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Amex Business Platinum Card refresh: More perks, more points — and a steeper price tag
Matt Moffitt is a contributing editor and expert in getting the most out of credit cards and points (he carries at least 25 cards in his wallet at any given time). Originally from Sydney, Australia, he won the Green Card Lottery and lived in Austin, Texas for 10 years before relocating to Spain in 2025.
September 18, 2025 • 11 min read
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Quick summary
A major small-business travel rewards card has undergone a refresh, increasing its fee and expanding its benefits and credits.
New perks include a substantial hotel credit, enhanced credits for technology and business services, and improved earning rates in key business categories.
The card now offers more value for companies with significant travel and operational expenses, though the fee increase is notable.
Some offers mentioned in the article are no longer available.
What to consider
The higher fee applies immediately for new applicants and from December 2 for renewals, with added credits and benefits available now.
Boosted earning rates apply to select business categories, and new credits require enrollment to activate.
The Pay with Points redemption option has been restricted to a selected airline, reducing flexibility for some users.
What you'll miss from the article
A detailed breakdown of how to maximize the new credits, boosted earning categories and travel perks to offset the increased fee.
Generated by AI with support from our editorial team.
Update: Some offers mentioned below are no longer available. View the current offers here.
American Express has refreshed its flagship small-business travel rewards card, The Business Platinum Card® from American Express. It has raised its annual fee from $695 to $895 (see rates and fees) and added perks, boosted earning rates and added a useful hotel credit.
The Business Platinum Card® from American Express — Earn 200,000 Membership Rewards points after spending $20,000 in eligible purchases on the card within the first three months of card membership.
This is the card’s first fee hike in four years, and it matches the refreshed personal version of the card, The Platinum Card® from American Express (see rates and fees for the consumer version).
Here’s what’s changed and whether this premium business card is still worth keeping or applying for in its updated form.
What’s changed in the Amex Business Platinum refresh?
Amex has added perks, increased the earning rate in key business categories and raised the annual fee. Most changes are live now for new and existing cardmembers, though the higher annual fee won’t kick in for renewals until Dec. 2.
Here’s how the card looks postrefresh:
Annual fee
Increase from $695 to $895 (a 29% jump)
Effective immediately for new cardmembers (Dec. 2 for existing cardmembers)
Now $100 higher than the Chase Sapphire Reserve for Business℠ (see rates and fees)
HOBO_018/GETTY IMAGES
Employee card fee
Increase from $350 to $400 (a 14% jump; see rates and fees)
Premium travel perks like lounge access and hotel elite status for employee cardmembers; still possible to add no-fee employee business expense cards (earn points but no travel perks; see rates and fees)
Up to $2,400 in statement credits for American Express One AP payments
Adobe credit
$150 annually on select purchases (limited selection)
$250 statement credit after spending $600 or more on U.S. purchases made directly at Adobe (from July 1 through Dec. 31, 2025, and for each calendar year after; subject to auto-renewal)
Dell credit
$200 biannually
Up to $150 in statement credits annually on U.S. purchases made directly at Dell
Up to $1,000 in statement credits after spending $5,000 or more at Dell (from July 1 through Dec. 31, 2025, and for each calendar year after)
*Enrollment is required for select benefits
Boosted earning rates
Key business categories are getting a 33% earning boost, now netting 2 (instead of 1.5) points per dollar spent (on up to $2 million per calendar year, then 1 point per dollar) on:
Purchases of $5,000 or more
U.S. cloud service and software providers
U.S. construction materials and hardware suppliers
U.S. electronics retailers
U.S. shipping providers
FG TRADE/GETTY IMAGES
There are no changes to earning:
5 points per dollar spent on flights and prepaid hotels booked through American Express Travel
1 point per dollar spent on most other eligible purchases
Pay with Points devaluation
American Express has devalued its Pay with Points bonus, which now gives a 35% points discount (up to 1 million points back per year) only on tickets with your selected U.S. airline — rather than on any airline in first or business class as before.
Announced in June, this change limits flexibility, though a work-around exists for codeshare flights (explained below).
Added hotel and dining perks
Leaders Club Sterling status (for stays at The Leading Hotels of the World properties) enrollment required
Platinum Nights by Resy (currently only available in Los Angeles, Miami and New York City)
Unchanged benefits
These statement credits are staying the same (enrollment required):
Airline (up to $200 in statement credits with selected airline)
Clear Plus (up to $209 statement credit per calendar year, subject to auto-renewal)
Global Entry/TSA PreCheck ($120 statement credit for Global Entry every four years or an up to $85 fee credit for TSA PreCheck every 4 1/2 years)
Hilton Honors (up to $200 in statement credits per calendar year for eligible purchases; allocated up to $50 per quarter; separate enrollment through Hilton for Business required)
Indeed (up to $360 in statement credits per calendar year; allocated up to $90 per quarter)
Wireless telephone services (up to $120 in statement credits per calendar year for U.S. services, allocated up to $10 per month)
As are these perks (enrollment required):
Cellphone protection (for a maximum of $800 per claim, with a limit of two approved claims per 12-month period; coverage for a stolen or damaged eligible cellphone is subject to the terms, conditions, exclusions and limits of liability of this benefit)**
**Eligibility and benefit level vary by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
Limited-edition card design
There’s also a limited-edition mirrored card design rolling out alongside the refresh.
Because these added perks are available immediately — and the higher fee won’t hit until renewals on or after Dec. 2 — cardmembers have a valuable window to lock in value before the price increase.
Here is my advice.
Enroll before spending
Activate the hotel credit and ensure you've enrolled in the other credits (for Adobe, Dell, Indeed, etc.) to make sure they trigger correctly.
Plan 2 hotel stays a year
The up to $300 hotel credit every six months is a standout. Even using just one $300 credit offsets the $200 fee hike.
Make sure to use the second half of 2025's credit on a stay before the end of this year.
HYATT
To maximize the credit, my recommendation is to book either a one-night stay at an American Express Fine Hotels + Resorts property (which tend to be more expensive) or a two-night stay at a Hotel Collection property (which tend to be cheaper but have a two-night minimum).
Max out the tech-focused credits
Adobe: Shift your Adobe subscriptions to this card to maximize the $250 credit.
Dell: Use the expanded $1,150 allotment to refresh your team's and your equipment before the end of the year.
Other credits: Continue using the monthly wireless and quarterly Indeed credits — though the up to $10 monthly wireless credit really needs an update.
(It’s an unusual inclusion since Leaders Club isn’t an American Express transfer partner, but the status can be useful if you often stay at these luxury properties.)
Use the Pay with Points bonus strategically
Remember, you’ll get 35% of your points back when you book eligible flights with your selected qualifying airline through American Express Travel.
BEN SMITHSON/THE POINTS GUY
Codeshare flights marketed by your selected airline (for example, a Virgin Atlantic flight marketed by Delta Air Lines) will still qualify for the 35% bonus, as long as you book through American Express Travel.
If you’ll spend at least $250,000 in 2025, you can unlock $1,200 in Amex Travel flight credits and $2,400 in One AP credits in 2026. (One AP is Amex's automated accounts payable platform; it's a niche but compelling benefit for large companies.)
What’s in it for new cardmembers?
With this refresh, the Business Platinum has been strengthened as a premium business rewards card focused on travel and high-spending categories — with a price tag to match. It can be a smart fit if you:
Spend heavily on $5,000-plus purchases or with cloud/software, construction, electronics or shipping providers
Travel often enough to use lounge access, hotel elite status and expedited security with Clear
Might eventually hit the $250,000 spending threshold for the additional up to $3,600 in credits
Unlock full value from the hotel, Adobe and Dell credits
If your business doesn’t spend much on travel or technology, this card is probably not a fit. But if you can tap its perks and bonus categories, it can deliver tremendous value.
MASKOT/GETTY IMAGES
If you're interested in applying, now is the time to do it, as Amex is currently offering its highest-ever publicly available bonus on this card: New Business Platinum applicants can earn 200,000 bonus points after spending $20,000 on eligible purchases within the first three months of card membership.
Based on our September 2025 valuations, those 200,000 Membership Rewards points are worth $4,000. That makes it one of the most valuable welcome offers we've ever seen on any card.
My take: Is it still worth it?
This refresh is subtler than the personal Platinum’s but arguably sharper: It makes the Business Platinum feel more like a comprehensive business travel and tech card rather than just a lounge pass for business owners (and their employees).
What works?
The hotel credit is a major addition, and even using one of the credits more than covers the $200 annual fee hike.
The boosted bonus categories now more richly reward large business-to-business purchases.
The 35% flight bonus still makes this card somewhat powerful for redeeming points.
The enhanced Dell and Adobe credits add real value for many businesses.
PIXELEFFECT/GETTY IMAGES
What's missing?
The $10 monthly wireless credit is too low to be meaningful.
There’s still no bonus on flights or hotels booked directly — only prepaid ones booked through Amex Travel.
I’d like to see broader bonus categories (such as advertising, gas/electric vehicle charging and office supplies).
This card has shifted over time from an executive travel card to a premium spending tool for businesses with large travel and recurring operational expenses. If you can leverage its credits and boosted earning categories, it can absolutely be worth the $895 price tag.
The refreshed American Express Business Platinum is more expensive but also more rewarding, especially for companies that spend heavily on travel and tech.
If you’re keeping the card, enroll in the perks now and plan at least one $300-plus hotel stay before the end of the year to lock in value ahead of your next renewal.
And if you’re considering applying, this refresh makes it a stronger proposition than it’s ever been, as long as you can fully maximize its benefits.
Apply here: The Business Platinum Card from American Express
For rates and fees of the American Express Business Platinum card, click here.
For rates and fees of the American Express Platinum card, click here.
Comments
By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
