Why You Should Get the Amex Business Platinum Now Before the Annual Fee Increases

We know for certain that The Business Platinum Card^® from American Express will get an update by the end of the year, but all we really know right now is that the $695 annual fee (rates & fees) will go up.

Until we know an exact date and the official benefits, we can only speculate about the new annual fee. While we wait, there’s a unique window to apply for the card and lock in the current annual fee for your first year of card membership — all while “double dipping” on a few perks.

Let’s talk more about why applying for the Amex Business Platinum card before the changes roll out could be a strategic move.

1. Lock in the $695 Annual Fee for a Year

American Express confirmed recently that it will refresh the perks on The Platinum Card^® from American Express and the Amex Business Platinum card. We can expect a larger annual fee and more benefits and credits, though each cardmember will have to decide for themselves whether this added value is worth paying a higher cost.

American Express tends to refresh its most premium cards every 5 years or so. With the 2025 version, we don’t know what to expect just yet.

However, based on previous overhauls of the cards, it can be a smart idea to apply before the updates are officially made public. If you apply for the Amex Business Platinum card now, you’ll pay the current $695 annual fee and lock in that membership rate for the next 365 days or so.

That’s because annual fees are charged yearly on the date you applied for the card, not by calendar year.

2. Test Out New Perks (Without a Higher Annual Fee)

When Amex rolls out new card benefits, they are typically available to all cardholders immediately — including existing cardholders. By applying now, you’ll lock in the current lower annual fee and still gain access to new perks immediately, without paying the higher fee for at least a year.

The annual fee is charged to your first statement upon opening the account, and paying that membership fee will lock in that rate for the first year of card membership. For example, applying now (in August 2025) will mean that you won’t have to pay the higher annual fee until August 2026 — giving you plenty of time to assess whether the card is worth keeping once the fee is hiked.

3. Double-Dip on Some Card Benefits

While the annual fees are based on your specific card membership year, some card benefits are based on the calendar year. By applying for the Amex Business Platinum card now, you can actually get twice the perks within your same card membership year.

With the airline incidental fee statement credit, cardmembers earn up to $200 back annually for one qualifying airline of their choice (enrollment required). For example, I chose Delta, and eligible charges throughout the calendar year, like baggage fees and seat selection, will be eligible for this credit.

By applying for the Amex Business Platinum card now, you’ll get up to $200 back to use before the end of 2025, and a fresh new credit valued at up to $200 at the start of 2026.

Not only that, but the Amex Business Platinum card comes with a Dell credit (enrollment required). Each calendar year, you receive up to a $150 statement credit on U.S purchases directly with Dell Technologies on your Amex Business Platinum card and an additional $1,000 in Dell statement credits after you spend $5,000 or more on Dell Technology purchases on your card per calendar year.

Even if you don’t reach the spending threshold for the second part of the credit, that still means you’ll get up to a $150 statement credit on eligible Dell purchases to use by the end of 2025. Then, on January 1, 2026, you’ll receive a second, up to $150 Dell statement credit.

4. Secure the Current Welcome Offer

Another thing that’s uncertain is the welcome bonus offer that new applicants are eligible for. Any card refresh could be subject to new application rules that make it harder to qualify for a welcome bonus offer, so applying now allows you to score the current bonus offer.

By applying now, you can take advantage of the current welcome bonus offer while it’s still available. The Amex Business Platinum card’s current offer is:

• Earn 150,000 points after spending $20,000 in eligible purchases within the first 3 months.

BEST LOUNGE ACCESS

Terms Apply / Rates & Fees

The Business Platinum Card^® from American Express

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

This card is ideal for business travelers who enjoy luxury travel and are looking for a card loaded with benefits!

Apply Now(at Amex's secure site)

The Business Platinum Card^® from American Express

This card is ideal for business travelers who enjoy luxury travel and are looking for a card loaded with benefits!

Welcome Offer

Earn 150,000 Membership Rewards^® points after you spend $20,000 in eligible purchases on the Card within the first 3 months of Card Membership.

150,000 points

UP's Offer Valuation*:

Up to $3,300

Annual Fee

$695

APR

18.49% - 29.24% Variable

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.

Good to Excellent

Why We Like This Card

The Business Platinum Card^® from American Express is a premium travel rewards card tailored toward business owners who are frequent travelers with a high number of annual expenses.

When you factor in the large number of perks that the card offers like the best airport lounge access at over 1,400 lounges, along with tons of annual credits, it’s easy to see why this card can is a top option for frequent traveling business owners.

Pros & Cons

Pros

• 5x Membership Rewards points per $1 on eligible travel purchases like flights, prepaid hotels, and prepaid short-term rentals booked through AmexTravel.com
• Access to over 1,400 worldwide airport lounges as part of the American Express Global Lounge Collection (as of 10/2024).
• Get 50% more Membership Rewards points (1.5 points per $1) on eligible purchases in key business categories, as well as on purchases of $5,000 or more (on up to $2 million per calendar year)

Cons

• High annual fee of $695 (rates & fees)
• Airline fee credit does not cover airfare, only incidentals like checked bags

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Card Highlights

• Welcome Offer: Earn 150,000 Membership Rewards^® points after you spend $20,000 in eligible purchases on the Card within the first 3 months of Card Membership.
• The American Express Global Lounge Collection^® can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market as of 10/2024.
• Unlock over $2,000 in statement credits with business and travel benefits annually* on the Business Platinum Card. Terms apply. Learn more. *After meeting qualifying spend thresholds
• New! Enroll and get up to $150 in statement credits on U.S purchases directly with Dell Technologies on the Business Platinum Card and an additional $1,000 statement credit after you spend $5,000 or more on that same Card per calendar year.
• New! Enroll and get a $250 statement credit after you spend $600 or more on U.S. purchases directly with Adobe per calendar year on the Business Platinum Card.
• Fly like a pro with a $200 Airline Fee Credit. Select one qualifying airline to receive up to $200 back per year on baggage fees and other incidentals.
• Make the Business Platinum Card^® work even harder for you. Hilton For Business members get up to $200 back per calendar year when you make an eligible purchase at Hilton properties across the globe. Benefit enrollment required.
• 5X points on flights and prepaid hotels booked on AmexTravel.com
• 1.5X points (that’s an extra half point per dollar) on purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on each eligible purchase of $5,000 or more, up to $2 million of these purchases per calendar year. Purchases eligible for multiple additional point bonuses will only receive the highest eligible bonus.
• 1X points on other eligible purchases
• Use the Business Platinum Card^® and get up to $209 back per calendar year on your CLEAR^® Plus Membership (subject to auto-renewal).
• $695 Annual Fee.
• Terms Apply.

Financial Snapshot

• APR: 18.49% - 29.24% Variable
• Foreign Transaction Fees: None

Rewards Center

American Express Membership Rewards

While the minimum spend requirements are pretty high, the Amex Business Platinum card targets business owners who have a lot to spend.

Amex Membership Rewards points are best used for travel — specifically with its airline and hotel transfer partners — which is why we value them at 2.2 cents apiece. In other words, this bonus offer is worth up to $3,300 for travel.

Final Thoughts

If you’ve been considering the Amex Business Platinum card, now might be the best time to apply. While the exact launch date of the refresh is still unknown, the window to lock in the current lower annual fee before it increases is closing quickly.