😮 There’s Been a Huge Shake-Up in the World of Business Cards - The Points Guy

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Greetings!

Since we were last in your inbox, there’s been lots of big news in the world of business rewards cards. And, in this sense, “big news” means both interesting changes in the landscape and big opportunities to capitalize on new, extremely lucrative offers.

Trust me — even if you’re not in the market for a new card at the moment, you’ll want to read this.

Here’s what we’re talking about today:

💳 This trailblazing business card’s big refresh
🤑 How this card saved TPG thousands of dollars on 1 small work trip
📈 Why rewards are essential to growing your small business
✈️ How this one card move (timed correctly) could get you two years of BOGO flights

BIG NEWS

It's a new day for this trailblazing business rewards card

There’s huge news on the granddaddy of premium business rewards cards, so let’s get right into it.

In case you missed it, The Business Platinum Card® from American Express got refreshed last week with new and expanded benefits, and is now offering its biggest public welcome bonus ever!

Here’s what you should know:

For a limited time, new cardmembers can earn a whopping 200,000 bonus Membership Rewards points after spending $20,000 on eligible purchases in the first three months of card membership. That’s the biggest publicly available offer in this card’s history, offering an incredible amount of first-year value.

How much value? Those 200,000 Membership Rewards points are worth $4,000, according to TPG’s September 2025 valuations.

Meanwhile, Amex’s impressive lineup of transfer partners for these points includes the most widely used programs for businesses (think Hilton Honors, Marriott Bonvoy, Delta Air Lines), plus some of our favorites for booking international business-class flights, like Virgin Atlantic Flying Club, JetBlue TrueBlue and Air France-KLM Flying Blue.

Keep in mind: This card has not lost any benefits in this refresh — it has only added new ones and expanded some old favorites. This goes a long way in helping you easily offset the now-$895 annual fee (see rates and fees). The full list of highly valuable benefits is far too big to unpack here, so here are some highlights:

Up to $600 in statement credits per calendar year on prepaid Fine Hotels + Resorts or The Hotel Collection bookings (with a minimum two-night stay) through Amex Travel
Up to $200 in annual statement credits to offset eligible airline fee charges
Up to $209 in annual statement credits toward Clear Plus membership (enrollment required; subject to automatic renewal)
Access to the fantastic Amex Centurion Lounge network, Delta Sky Club locations when flying Delta, and more

Want to know more? Check out all the details on this refresh and historic welcome offer. (And read on to learn why this is a must-have business card for us at TPG.)

POINTS AND MILES

How this card recently helped TPG save thousands of dollars on 1 small trip

Earlier this month, we had a problem. Three TPG staffers needed hotel rooms in New York City for an important strategy session — but paid rates were off the charts (we’re talking $700-plus a night for basic properties).

Thankfully, we had an ace in the hole — one that wound up saving the business nearly $4,500.

You see, we have The Business Platinum Card from American Express here at TPG, and over the years, we’ve racked up a healthy balance of Membership Rewards points. And it just so happened that Amex was offering a 25% transfer bonus to Hilton Honors (which expires today!) at the time we were booking.

So, here’s what we did:

Transferred 128,000 Amex points to book a pair of two-night reservations at a Manhattan Hampton Inn (cash price: $3,314.40)
Transferred 34,000 Amex points to book a one-night stay at a Manhattan Hilton property (cash price: $1,098.81)

All told, we redeemed 162,000 Amex points for $4,413.21 in stays — that’s over 2.7 cents per point, well above TPG’s valuation. Check out the full story for all the details.

And remember: Now’s a great time to consider adding the Business Platinum Card to your wallet, too, as it just launched a suite of new benefits and its highest-ever welcome bonus: 200,000 points after you spend $20,000 on eligible purchases within the first three months of card membership.

BUILDING YOUR BUSINESS

Small-business owner? Here's why rewards can be essential to your growth

Opening (or already running) a small business? The right credit cards can do more than just buy supplies — they can help you launch smarter, manage better and earn more.

If you find yourself wondering, what’s 2% or 3% back in rewards really going to do for me?

“It adds up!”

Take it from Dorie and Matthew, owners of the Shiny Sparkle Labs glass studio. They began with a simple, no-annual-fee card to fund their early operations — and then added additional cards as they built their business credit to diversify their rewards and enhance their earning potential.

Watch them tell The Points Guy founder, Brian Kelly, about how their credit card rewards have helped them:

Grow the business (and their credit)
Attend industry conferences
Save on supplies
Reinvest in the business

“Acquiring our first credit card for our business was essential for the business because it’s helped us grow. And as our business grows, so does our ability to grow our credit,” Matthew says.

CARD TIPS

You could lock in 2 years of BOGO flights with this best-ever offer — just don't rush it

One more big thing you should know:

Southwest Airlines has just dropped its best offer yet on the Southwest® Rapid Rewards® Performance Business Credit Card: Right now, new cardholders can earn 120,000 bonus points after $10,000 in purchases within three months.

With a welcome bonus that high, you could easily earn Southwest’s highly coveted Companion Pass — which lets a designated companion fly with you for just taxes and fees on nearly any Southwest flight.

But timing is everything. If you time your application and spending correctly, your Companion Pass could cover flights for nearly all of 2026 and 2027. We cannot understate how incredibly valuable that is — to say nothing of the huge pile of points you’ll have earned!

If you or your employees fly Southwest often, this could be one of the most cost-effective travel perks available — when planned correctly.

Want the details on this strategy? We’ve unpacked it for you here. Or keep an eye on TPG Business Brief — we’ll put the word out when it’s the right time to apply!

Today’s top stories

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The cards we feature here are from partners who compensate us when you are approved through our site, and this may impact how or where these products appear. We don’t cover all available credit cards, but our analysis, reviews, and opinions are entirely from our editorial team. Please view our advertising policy and product review methodology for more information.

Editorial Note: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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