Is the Amex Business Platinum worth the new $595 annual fee. Why it’s a likely yes for me.

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A few new benefits and $145 more a year…

Earlier today Amex sent out a round of emails notifying current American Express Business Platinum cardholders that some things would be changing as of February 2019. Let’s take a look at the new benefits, the existing benefits, and when you’ll get hit with paying the new $595 annual fee.

The new $595 annual fee will go into effect in February.

If you’re a lucky duck and your annual fee is due in January…you’ll still pay the current $450 and will stave off the extra $145 until 2020. For the rest of use…whenever our fee hits post 2/19 – we’re gonna pay up.

The New Benefits:

• WeWork – 1 year of comped Platinum Global Access ( Amex values at $2700 )
  • WeWork offers 300 workspaces in 75+ cities and 20+ countries around the world
• $200 in statement credits for U.S. purchases with Dell
• Increased $100 hotel credit ( from $75 ) at properties in “The Hotel Collection”
  • On new reservations after 1/1/19 booked through Amex Travel

The Existing Benefits:

1. $200 annual airline fee reimbursement –
   • The airline reimbursement is per calendar year vs the cardmember year of which the annual fee is based.
     • This means you’d get $400 in reimbursement for the first cardmember year.
   • A lot of airline gift cards often register as incidental. Alaska even refunds flights under $50.
2. 35% refund on points when redeemed via AmexTravel ( on your select airline or premium cabins )
3. 1.5x points on qualifying purchases over $5000
4. Global Entry fee reimbursement – worth $100
5. Priority Pass Select membership – worth ~ $400
6. Delta Sky Club lounge access – when flying on Delta
7. Centurion Lounge access – network expanding and very worthwhile
   • I do love these clubs! Check out SFO, MIAMI,Las Vegas, Hong Kong, Houston,
8. Access to Fine Hotels and Resorts
   1. Amazing benefits such as free breakfast, resort credits, room upgrades, early check in, late check out, etc
      • Using Amex FHR has earned me $100s per stay each time I use it.
9. Over 20 transfer partners: like Singapore Air, Aeroplan, Air France, British Airways, and Avianca
   • I love the transfers to Singapore and Aeroplan.
10. SPG Gold status – which you can use to get Marriott Gold
11. Hilton Honors Gold status
12. Boingo free wi-fi at more than 1,000,000 hotspots around the globe
13. The Hotel selection
    1. slightly different that Fine Hotels and Resorts, but provides great benefits, credits, and upgrades
14. Return protection on goods a store won’t take back, you get reimbursement up to $1000/year $300/item
15. 10 Free GOGO in flight WIFI passes. Per Year
    • Valued at just $10/piece this is another $200
16. 5x points on flights booked through Amex Travel

Is the American Express Business Platinum worth $595 a year?

I’ll be crunching the numbers myself later this year when my fee hits, but I’m leaning towards yes because of 3 things:

1. $200 Airline Fee credit
2. 10 Gogo In flight Wifi passes
   • Worth at the minimum $10 and more like $15
3. Referrals
   • You can now refer from any Amex to any other Amex
   • That’s 55k points right there

*4 – The 35% refund is great too – making Amex MR worth over 1.5c when redeemed via Amex Travel. That’s a great perk, but for me personally, doesn’t tip the scales like the 3 above because I almost always transfer to partners.

If you take the first two items from above and add them together you’ll get: $300 to $350.

Do I value 55k Membership Rewards more than $295 ( or the $145 premium)? Absolutely.

And friends, family, etc don’t need to pick up an Amex Business Platinum for me to earn those points. They can literally apply for any Amex card and I’ll earn those points.

Amex changed the game with any card referrals

Look, I make a commission when you apply for a card via my affiliate links ( AND GREATLY APPRECIATE IT 🙂 )  so even talking about your referrals undermines my cash flow, but we want you to do the best you can for yourself.

55k points a year is huge and one of the biggest incentives Amex has announced in the last couple of years for long term card holds.

Yes, $595 a year is a lot, but for me…It’ll more than likely stay in my wallet.

In addition to the feature image of United Polaris ( a 55k Aeroplan redemption from South America to US ) Here’s what 55k miles can do…Lufthansa Business Class on the upper deck of a 747-8i.

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Avianca is selling their miles with up to a 125% bonus. That’s roughly 1.54 cents a piece ••• What does that mean? ••• You can fly from the States to Europe in business for roughly $1k each way. One of the best for avail is Lufthansa business class – featured here, upstairs on the 747-8i ••• #travel #instatravel #atlantic #pushyourlimits #invest #in #travel #travelholic #eurotrip #bucketlisttravel #deals #points #lifemiles #youcandoittoo #wanderers #wanderlust #businessclass #lieflat #lufthansabusinessclass #747 #boeing #lufthansa

A post shared by Monkey Miles Travel (@monkey_miles) on Sep 5, 2018 at 8:25am PDT