(Update 1/12/22: Just a reminder that the annual fee increase on the business Platinum card goes into effect tomorrow. You can still apply now with the $595 fee.)
American Express has increased the annual fee to $695 for Business Platinum cardholders and added new benefits. New cardholders have until 1/13/22 to apply and get the old annual fee of $595 for the first year but we didn’t know what would happen to existing cardholders.
American Express has now sent out e-mails to existing cardholders advertising the new benefits and it also states ‘Starting at your next renewal on or after January 13, 2022, the annual fee for your enhanced Business Platinum Card will increase from $595 to $695’. Meaning if your renewal is before January 13, 2022 you’ll pay the $595 annual fee.
In my experience when American Express increases the annual fees like this they are extremely generous with retention offers to keep cardholders. So remember to call the retention department to get a deal for keeping your card.
I opened a Business Platinum in December 2021. The 2nd annual fee just posted (Dec 2022) and it was $595 again. That’s a nice surprise since I thought it would be $695.
So is it worth it (and allowed by Amex) to open a Biz Plat, overpay taxes, use POT 0% APR, get the refund and pay it back?
If you can’t afford to float it without the POT offer don’t do it. Some people have seen extraordinarily long delays getting their overpaid tax money back from the IRS from 2020 and the IRS has already said this year will be worse.
Off topic but related, DP regarding Amex Biz Platinum retention offer.
11/2021 annual fee billed
1/12/2022 called Amex Biz 866-376-4552 told them due to the pandemic I haven’t been able to fully utilize the benefits and perks this card allows. I advised the rep I’m aware of some of the benefits such as $200 airline fee credit, 35% point rebate, etc. this was to prevent them from rattling off ALL the benefits. I also told them I don’t care for spend X/receive X/90 days offers. He said he didn’t have any spend offers, however he did offer $695 statement credit with no spend required, as long as I keep the account open for 1 year. I agreed, he provided his name and reference #.
If this helps someone, please reply sharing your experience:
What did you say?
What was their response/counter offer?
Were you successful?
Applied for this card, and received the popup notification not eligible for a bonus for the first time.
Shocked, since I’ve had over 23 different Amex cards, have 7 currently open, and have never received a popup in the past. I put $50K on Amex cards each calendar year, and haven’t applied for an Amex card in a year. 3/24.
What would make Amex all of a sudden deny me for the bonus?
I had been approved for a NLL offer late last year. There was another App in my login for an NLL offer. I applied today and was declined because I had been approved for one already. Now the app has changed to a NLL Gold.
Both times I applied under my name. Maybe I should have put a business name for the second one?
You have to wait 90+ days between approvals on duplicate cards. Just wait the time out and call recon regarding your second app, they’ll push it through.
Hold the line. I bet they come out with a big offer after the annual fee increases.
I got a 150K points offer with 12month 0% APR purchases… Had never seen the 0% intro offer on Platinum card
Me too. We’re going to have a decision to make today!
Wonder if new Biz Plat applicants would get the 4x and 15,000 MRs for referral bonus?
Just curious, what do ppl do with Dell credit? What’s the best use for it?
Buy XBox GC (and then have your order cancelled)
So wouldn’t it get refunded to the plat card and then amex claws it back? Please explain.
I think that’s the chance you take. Usually they don’t claw back if you keep the card (hopefully with retention bonus) or downgrade.
I don’t think he was saying to intentionally cancel your order; it’s just a joke that Dell often cancels orders when you don’t want them to. And I think when Dell cancels an order, that’s before your card is ever charged.
If that’s the case, I am very interested in the card. I never found the need for Dell. It looks like all the gift cards are egift cards and I thought you can’t cancel those GC.
dell is a total joke of a crap company and amex sucks to have partnered with them. they probably did this on purpose . i have tried to buy 5 different times and different items…always get canceled for bs reason. one was shipped and then cancelled before it was delivered. horrible company and ill never buy anything from them without the amex credit even.
My experience was pretty good. I’ve ordered three Dell monitors so far and enjoyed $600 Amex Dell worth of credits.
I have had Dell computers for years and always had good service. Just got an amazing new machine and it was easy to order and arrived quickly.
Bose mainly… bought a new printer for the house this time around. I have 2 of them and Dell allows split payments so I can use $400. My AFs come up mid year so I’ll get one more out of it and then close them. It’s not worth the AF anylonger unless you can use the 35% MR points rebate for flights (which gives AMEX a great 1.5cpp value and is really easy to use). That being said, I’ll just bank up those points and reapply when the time to travel comes back
dang…wish I had thought about doing this. I only got the $200
FWIW, I got AF waived in September before this hit
Provide details and be the datapoint we need.
What is your annual spend per year?
Are you a long term American Express member?
Very low annual spend. Have had card a long time, got something off last year and i maximize benefits (have low breakage). I’ve always been “ahead”