Annual fee increases for travel rewards credit cards have become common, and this trend appears to be continuing. While these increases can be daunting, they often accompany a suite of enhanced perks that may benefit cardholders significantly. A prime illustration of this is the recent enhancements to The Business Platinum Card® from American Express.
With the annual fee rising to $895, many might question whether the card’s value justifies this cost. However, the revamped offerings certainly bolster the case for keeping this card. For instance, the newly introduced semiannual up-to-$300 statement credit on prepaid hotel stays booked through American Express Travel®, provided those hotels are part of the Fine Hotels + Resorts or The Hotel Collection, stands out as a remarkable new feature. This could translate to a total of $600 in statement credits each year, enhancing the card’s overall value proposition significantly.
Using these credits, cardholders can enjoy a plethora of amenities, including room upgrades upon arrival, experience credits typically worth around $100, complimentary daily breakfast for two, guaranteed 4 p.m. late checkout, and noon check-in when available. Additionally, if a property includes Wi-Fi as part of a mandatory resort fee, a daily credit equivalent to the standard Wi-Fi cost will be provided.
Given that Las Vegas is a frequent travel destination for many, affordable options like the Park MGM Las Vegas are likely to benefit greatly from these new credits, particularly for those who visit multiple times a year.
Another noteworthy feature of The Business Platinum Card is the $200 Hilton statement credit that cardholders can utilize for eligible purchases at Hilton properties. This benefit remains unchanged and is easy to capitalize on, especially for those who frequently stay at Hilton hotels. An example includes using the card to cover expenses such as pet fees or parking charges, which can rapidly accumulate during travels.
Furthermore, the $200 airline fee statement credit remains a significant advantage for users. By selecting a qualifying airline, cardholders can reclaim fees associated with checked baggage and other travel expenses. This offers practical financial relief, particularly for families traveling with young children and elevated luggage requirements.
In reviewing the costs associated with the card, one must consider their travel habits and how these align with the benefits provided. The potential for a cardholder to reclaim much or all of the increased fee through statement credits and enhanced perks makes the Business Platinum Card a compelling option
The combination of retained benefits and new features makes it a valuable addition to the wallets of those who engage in frequent travel. The math may favor cardholders, solidifying the Business Platinum as a viable choice despite its higher annual fee.
