American Express Business Platinum Annual Fee To Increase Tomorrow, Should You Apply Now?

Update: Annual fee has been increased to $695, but only on applications after received 1/13/21.

Earlier we posted a rumor surrounding new benefits for the American Express Business Platinum, we’ve now had other sources confirm that the annual fee will be increasing tomorrow (no idea if the rumored benefits are accurate but I suspect so).

We also unfortunately do not know what the annual fee will be increased to, the personal platinum recently increased from $550 to $695 ($145 increase). The business platinum is currently $595 so I could see an increase to $695 or even $745.

The best bonus on the Business Platinum card is currently 150,000 points. My guess is that when the annual fee increases we will see a similar bonus but with an additional spending component (e.g the personal platinum offers 125,000 points + 15x on restaurants and small businesses).

It’s hard to know if signing up now before the annual fee increase comes into effect or not makes sense, but it’s something to at least consider if you’re eligible. My gut feel is that signing up now makes sense if you’re not confident you’ll be able to spend big in any possible bonus categories (my guess is that these would be construction/hardware stores, electronic goods, and shipping) and to hold off if you can spend big in those potential categories.
    William Charles
  • On October 13, 2021, 19:07
Tags: american expressamerican express business platinumrumor

View Comments (37)

  • Looks like annual fee is to become $695 if application is received on or after 1/13/2022).
    @will @chucksithe

    Screenshot: https://imgur.com/OJXEbmZ
    Source: amex public link is updated to 120k with $595 AF (and $695 after 1/13/2022)

    • You use your SSN as a sole proprietorship and create a business bank account with it. You can register an EIN at the IRS without problems as well.

        • LOL. No you can’t do that as sole proprietor. How would you save taxes if you paid yourself 80k you would still have to pay taxes on the 80k. You are just talking nonsense.

          • Why am I talking nonsense? Need to find a way to avoid paying very high taxes to Sam. Who is not making profit with gravy train to Wall Street these days. I Need to do some research or talk to experts, I hope DoC can write a post on this.

  • T/C have been updated to provide for the increased benefits but the fee is still listed at $595. Will probably change in a few hours.

  • Could only get a 120k to come up so ended up getting a Delta biz card instead. $595 fee plus $15k spend seemed pretty steep.

  • i opened MS Plat on 7/1 but I was only charged $550 AF and still got the 100k+10x. Maybe there's a grace period/system update cycle in the first few days so applying the day of the increase might be smarter?

  • I decided to jump on the 150k NLL expand your membership offer and lock in the $595 annual fee. I’d been thinking about it anyway and I’m not confident the NLL offer will last till 12/31. We’ll see if it was a wise move or not…

    If I didn’t need a NLL offer, I likely would have waited to see what happens tomorrow.

    • Looks like we could've waited, but probably still the right decision to remove the uncertainty.

      • I hedged my bets and used my expand your membership 150k offer last night too. No way we could have known the fee increase would be delayed unlike the personal plat which increased the AF right away for new applications. Also no guarantee our offers would have stuck around until December like Avi said.

    • Same boat. I’m planning on signing up before I go to bed tonight. To be clear, you got an offer not a mailer, right?

      • Sitting on one of those mailers hoping to apply for my second in December... I'm aware of the call in shutdowns, are these not considered safe? Thanks

        • I was hoping to wait until December too. I just signed up. I haven’t heard of anyone getting shut down from these. Only people who got cards through that one rep or if they used a NLL mailer. Although, I don’t know for sure if the latter is even true. I’m seeing people reporting it without someone actually saying it happened to them…
          I mean, you never know what the Amex RAT team will do, but it seems as though these offers are safe.

      • Correct, I didn’t get a mailer. About a month ago I got the offer through my online account, but then it was replaced with the Gold offer and I couldn’t see the Plat offer anymore. But I went to one of the DoC links where you have to log in to see if you’re eligible, and I was.

  • I would hold out. There is likely to be an increased offer as well. I bet we see public 150k.

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