The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.
American Express is pulling out all the stops to keep cardholders from canceling accounts as coronavirus wreaks havoc on the U.S. economy. And now it's going even farther for the American Express Business Platinum card.
After adding a handful of new, non-travel benefits to the Business Platinum (and other top travel cards) last week, American Express is sweetening the deal for cardmembers whose renewals are coming due soon. They are offering a one-time $200 statement credit which will be applied to accounts after annual fee renewal. That effectively lowers the annual fee to $395.
This offer seems to be targeted. Some cardholders are receiving the email pictured below this morning.
However, my account renewed in March and I called Amex to see if I would be receiving the credit. The customer service representative indicated I would be and made it sound like this would be available to all cardholders.
It's not clear at this time if this offer is just for Business Platinum cardholders or if personal Platinum cardholders are included as well. So far, we haven't seen reports of personal Platinum cards receiving a similar offer.
This comes after Amex added $320 in statement credits for wireless phone service for providers like Verizon and AT&T, as well as U.S. purchases for shipping. Amex also added another $200 in additional statement credits for U.S. purchases with Dell (for $400 total).
With the new cellular phone service and shipping credits, plus the additional $200 of credits to use at Dell.com, Amex is making it hard for business Platinum cardholders to cancel their account. If you were targeted for this new $200 statement credit, renewal almost becomes a no-brainer.
With an annual fee of $595, just these new benefits alone should make the card worth it for 2020. If you can use up all those credits, it's easy to come out ahead.
If you are a Business Platinum cardholder with an account renewal coming soon, check your account. You may have a $200 credit waiting for you in addition to the new benefits announced last week.
It isn't clear yet if this offer is available for personal Platinum cardholders.