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Yesterday, I covered some data on how American Express is shutting down customer accounts. While that news itself may be unnerving, another unpleasant news broke in quick succession. Amex is going to nix benefits to one of its popular premium products, the Business Platinum Card.
Amex Business Platinum Card Changes
So which benefits are being cut? Are they real game changers or just minor changes?
Gogo In-flight Passes
One of the most valuable perks of this card is the fact that you get 10 complimentary Gogo inflight passes every year with the Business Platinum card. If you currently hold these passes, they expire on December 31, 2019. No new passes will be issued after that date. Gogo inflight internet is an extremely valuable benefit, so it really stinks that it’s being taken away.
Boingo Internet
In conjunction with Gogo, cardmembers will also lose access to Boingo Internet. With Boingo, you could get access to wi-fi hotspots worldwide. With this new change, cardmembers will lose access to this benefit on January 1, 2020.
It Gets Worse
A few weeks back, I wrote about Amex’s breakage strategy and the path they’re looking to take ahead. While they’ve increased the annual fee on the Business Platinum Card from $450 to $595, it hasn’t been compensated with lucrative benefits. On the other hand, Amex cutting even more benefits now signals yet another negative trend for the card. Keep in mind that it wasn’t long ago that Amex cut another valuable perk on this card. Amex reduced the highly lucrative 50% airline rebate to 35%.
The WeWork benefit is also going away. Also, please note the catch with the WeWork benefit on this card. The WeWork membership is only active for one year after you activate it by logging into your account. In effect, you don’t get a complimentary WeWork membership during each year of card membership. Also, you can no longer enroll for the WeWork benefit after December 31st, 2019.
If that wasn’t enough, Amex is also removing the premium roadside assistance benefit starting in 2020. In case you forgot, the gift card workaround for the airline fee credit benefit is also dead.
Keep or Cancel?
If you currently have this card, should you still renew it? I don’t see much value in doing so personally, since I really found the Gogo Inflight passes to be of great use. I don’t intend to keep this card long term after all the negative changes and the increase in annual fee to $595. The WeWork benefit isn’t of much value to me as I don’t live in the vicinity of a WeWork facility. I don’t find the Dell credit of much use since I primarily use Apple products.
110,000 Membership Rewards Points Offer
However, your situation may be different. If you still find the card valuable and intend to get it, you should apply for the card with this elevated bonus. If you apply through the incognito mode on your browser, you can currently apply for the 110,000 Membership Rewards points offer.
With this offer, you’ll earn 60,000 Membership Rewards points after you spend $10,000 in the first 3 months. If you spend an additional $15,000 in the same period, you’ll earn another 50,000 Membership Rewards points. In essence, you’ll have at least a total of 135,000 bonus Membership Rewards points after getting the sign-up bonus and meeting the minimum spend.
The Pundit’s Mantra
I really hope that Amex adds some more benefits to this card very soon. As a long time American Express customer, I’m a bit perturbed by the path that Amex’s currently taking. They’re increasing annual fees on one hand. On the other hand, they’re either cutting benefits or not adding benefits that are really useful to justify the steep annual fees.
Do you currently hold the Business Platinum Card? If yes, do you plan on renewing it for another year after all these changes? Let us know in the comments section.
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H/T: Doctor of Credit
