Back in June, American Express announced that big changes were coming to both *amex platinum* and *biz platinum* sometime this fall. While we don't know for certain what exactly Amex has in store for these cards (or when), we do know that one of the Business Platinum's best perks is getting cut next week.

On Thursday, Sept. 18, cardholders will no longer get 35% of their points back when booking any business or first class ticket – on any carrier – through American Express Travel®. Instead, that rebate will only be eligible for flights on just one U.S. airline – the carrier you've selected for your card's up to $200 annual airline fee credit.

 

Amex terms to cut the business platinum rebate on any first and business class booking

 

This has long been one of our favorite benefits on the Business Platinum Card, and a major blow to cardholders who use their American Express Membership Rewards to book flights at the front of the plane.

For one more week, Business Platinum cardholders can book first or business class flights on virtually any airline – plus tickets in any cabin on their selected carrier – and get a 35% rebate within a few weeks. So while a $1,800 business class flight on United, Lufthansa, SWISS, or other carriers would cost 180,000 Amex points upfront, you'd get 63,000 points back to your account soon after, reducing the net cost to just 117,000 points.

That made it one of the most cost-effective ways to book premium cabins using points – particularly when you could find reasonable fares through Amex's International Airline Program (IAP). But by limiting it to just the one U.S. airline cardholders choose this September, that benefit is getting neutered big time. 

 

Why Amex Is Making This Change

This move is sad, but not entirely unexpected … with even bigger changes likely on the horizon soon. While we know very little about what Amex has planned for the “refreshed” Platinum Cards, this cut likely has something to do with it. 

Last month, Amex leaked (and quickly deleted) details about a new $600 per year Fine Hotels + Resorts® credit coming to the Business Platinum (and personal Platinum) that included an effective date of Sept. 18. In isolation, that date might not have seemed too significant – but when you pair it with this previously disclosed change to point rebates, it seems likely we'll see a total refresh of both cards next week. 

And this isn't the first time we've seen Amex make cuts to this benefit … or a similar one, at least. Just over a year ago, American Express gave its *biz gold* a major overhaul, raising the annual fee from $295 to $375 (see rates & fees) and completely axing its 25% Pay With Points rebate in the process. While the Business Platinum is keeping the rebate (for now), it's clearly being scaled back.

But it's not just Amex that's changing the way travelers redeem their points.

When the “refreshed” *chase sapphire reserve* debuted back in June – along with the launch of a brand new Sapphire Reserve for Business card – the bank axed a longtime benefit that allowed Sapphire Reserve cardholders to get increased value out of their points. As a part of that rollout, Chase revealed that Ultimate Rewards points would no longer be redeemable at a flat 1.5 cents each through Chase Travel℠. Instead, cardholders need to hunt for limited-time “Points Boost” offers to get more value. 

Meanwhile, Amex has already tightened other Business Platinum benefits. On July 1, new restrictions went into effect for the card's Dell and Adobe credits. When you add it all up, these cuts point to a broader strategy shift and all but solidifies that a vastly different Business Platinum Card is on the way. 

 

Bottom Line

Starting next Thursday, Sept. 18, the 35% Pay With Points rebate on the Amex Business Platinum card will be limited only to flights booked on your selected U.S. airline – no more getting points back on first or business class flights across all airlines. 

If you've got big travel plans and a healthy stash of Membership Rewards points, you've got just one week left to book premium cabin flights and get a kickback. Be sure to lock in one of the card's best benefits while you still can.