As credit card companies continue to hike up their fees, point savvy individuals have been awaiting what would American Express do to their premium cards. Now we have the answer.
American Express has significantly refreshed its flagship Business Platinum Card, raising the annual fee from $695 to $895, a nearly 30% increase, while adding over $3,500 in potential annual benefits to justify the premium price tag.
The company said that consumer and business versions of its refreshed Platinum card now carry an $895 annual fee, about 29% higher than the current fee of $695. The changes went into effect on September 18, 2025, representing the most significant refresh to the Business Platinum portfolio in recent years.
Fee Increases Across the Board
The primary card isn’t the only cost going up. The cost to add authorized users to the card has also increased, from $350 per person to $400 per person. This represents a substantial jump from the previous $300 fee that was in place until earlier in 2025.
For existing cardmembers, there’s a grace period: Existing Business Platinum cardmembers will not see the higher annual fee until their next renewal date or after December 2, 2025. However, all the new benefits are available immediately.
Major New Hotel Credit Addition
The standout addition is a substantial hotel benefit. The Amex Business Platinum Card now offers up to $600 in hotel credits annually. This is a semi-annual credit, so you receive up to a $300 credit in January through June, and up to a $300 credit in July through December.
This credit is valid for prepaid Amex Fine Hotels & Resorts or The Hotel Collection bookings through American Express Travel. For The Hotel Collection, stays must be at least two nights, while a single night stay is valid with Fine Hotels & Resorts.
Enhanced Points Earning Structure
The card has upgraded its bonus earning categories. Business owners now earn 2x Membership Rewards points on select business categories limited to $2 million per calendar year, including:
- Construction material and hardware suppliers
- Electronic goods retailers
- Software & cloud system providers
- Shipping providers
- Purchases of $5,000 or more (any category)
The card continues to earn 5x points on flights and prepaid hotels booked through American Express Travel, and 1x points on all other purchases.
Exclusive $250,000 Spending Bonus
For ultra-high spenders, American Express has introduced an unprecedented tier. 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.
The One AP credit applies to American Express’s automated accounts payable platform—a niche but compelling benefit for large companies managing significant vendor payments.
Complete Benefits Breakdown
Annual Credits & Benefits: • $600 Hotel Credit (semi-annual: $300 every 6 months) • $250 Adobe Credit (after spending $600+ annually) • $1,150 Dell Credit ($150 base + $1,000 after spending $5,000+) • $360 Indeed Credit ($90 quarterly) • $200 Airline Fee Credit • $120 Wireless Credit ($10 monthly) • $209 CLEAR Credit (annual membership)
Premium Perks: • American Express Global Lounge Collection (1,550+ lounges) • Marriott Bonvoy Gold Status • Hilton Honors Gold Status • Leaders Club Sterling Status • Global Entry/TSA PreCheck Credit
High-Spender Bonuses (after $250,000 annual spend): • $1,200 Amex Travel Flight Credit • $2,400 One AP Credit
Welcome Offer: • Up to 200,000 Membership Rewards points after spending $20,000 in first 3 months
Is the $895 Fee Worth It?
The math works if you can use the major credits:
Best-case scenario: A business owner who maximizes the hotel credit ($600), Adobe credit ($250), and Dell credit ($1,150) would receive $2,000 in value from just these three benefits—more than doubling the annual fee.
Realistic scenario: 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.
Poor fit: If your business doesn’t spend much on travel or technology, this card is probably not a fit.
The Verdict: Worth It for the Right Business
The refreshed Business Platinum represents exceptional value for businesses that can utilize its tech-focused credits and travel frequently. The addition of the $600 hotel credit alone nearly offsets the $200 annual fee increase for travelers who book two luxury hotel stays per year.
However, this card requires active management. Unlike simple cash-back cards, the Business Platinum demands that cardholders track quarterly and annual credits, plan purchases around benefit categories, and optimize spending to maximize value.
Bottom line:
For tech-savvy businesses with significant travel and software expenses, the enhanced Business Platinum delivers compelling value despite the premium price. For businesses seeking simpler rewards or those without substantial technology spending, lower-fee alternatives like the Chase Ink Business Preferred ($95 annual fee) may provide better value.
The card’s transformation into a comprehensive business travel and technology platform, rather than just a premium lounge pass, makes it more valuable for its target audience, but that audience is decidedly narrower than mass-market business cards.
American Express is clearly betting that business owners will pay premium prices for premium benefits, and early indications suggest the market is responding positively to this credit-heavy approach to justifying higher fees.
