American Express refreshes its flagship Small Business Travel Reward Card, American Express’s Business PlatinumCard®. It has increased its annual fee from $695 to $895 and added new allowances, increasing revenue rates and increasing hotel credit.
This is the first rate hike in four years for the card, which matches the personal version of American Express’s PlatinumCard® refresh.
It’s new, and whether this premium business card is still worth keeping or applying in its new form.
What new features are there in Amex Commercial Platinum Refresh?
Amex adds new offers, increasing revenue rates for key business categories and increasing annual fees. Now, most changes have been made for new and existing cardholders, although higher annual fees will not be renewed until December 2.
Here is how the card looks like poStrefresh:
Annual fee
Employee card fee
- Increase from $350 to $400 (14% increase)
- Advanced travel allowances, such as lounge access for employee card members and hotel elite status; no-fee employee business fee cards can still be added (earn points but no travel allowance)
credit
The card is earning two new credits. (The changes in Adobe and Dell points will take effect in July.)
| category* | forward | Now |
|---|---|---|
| Hotel Credit | N/A. | Up to $300 Biennial Statement Credit (every six months) |
| Large Expenditure Credits | N/A. | Spend $250,000 in one calendar year to purchase qualified purchases to unlock for use in the following calendar year: |
| Adobe Credit | $150 per year to buy (limited options) | $250 stated credit is spent $600 or more on US purchases directly on Adobe (July 1 to December 31, 2025); while in each calendar year; if automatically renewed) |
| Dell Credit | $200 every two years |
|
*Admission is required to choose benefits
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Increase income rate
Key business categories are catching 33% revenue growth and are now netting per dollar (instead of 1.5 points) (up to $2 million per year, then 1 cent per dollar).
- Buy $5,000 or more
- US cloud service and software providers
- American building materials and hardware suppliers
- US e-retailers
- US Transportation Provider
Earn no changes:
- Prepaid hotels that cost 5 points per dollar on flights and book on American Express travel
- Spend 1 point per dollar on most eligible purchases
Pay with points depreciation
American Express has depreciated through points bonuses and now offers only a 35% discount on tickets to your chosen American Airlines (up to 1 million points per year) instead of on any airline that is first or business class as before.
Despite work barriers to codesharing flights, this change announced in June limits flexibility (explained below).
New hotel and dining offers
- Leaders Club Pound Status (stop at the major hotels of the World Property) requires admission
- Platinum Nights by Resy (currently for sale in Los Angeles, Miami and New York City only)
The benefits of unchanging
These declare points remain unchanged (registration is required):
- Airline (declared credit with selected airline up to USD 200)
- Clear Plus (declared credit of up to $209 per calendar year, but automatic renewal)
- Global Entry/TSA Precheck ($120 for global admission every four years declared credit of $120, or $85 fee credit per 4 1/2 years)
- Hilton Honors (declared credit of up to $200 per calendar year; maximum allocation of $50 per quarter; separate admission through Hilton, business required)
- Indeed (up to $360 per calendar year; up to $90 per quarter)
- Wireless Telephone Service (U.S. service for up to $120 per calendar year, up to $10 per month)
The same is true for these privileges (requires registration):
- Mobile phone protection (up to $800 per claim, with a limit of two approved claims per 12 months; coverage for qualified mobile phones suspected of being stolen or damaged is subject to the terms, conditions, conditions, conditions, conditions, conditions, exclusions and liability limitations of this benefit)** **
- Marriott Hotel and Hilton Honor Golden Status
- Lounge entry
**Qualifications and income levels vary from card to card. Terms, conditions and limitations apply. Please visit AmericaneXpress.com/benefitsguide for more details. Underwritten by AIG New Hampshire Insurance Company.
New limited edition card design
There is also a limited edition mirror card design that spreads out next to it with refresh.
Existing card members can request it by ordering a replacement card online.
How do these changes affect existing card members?
Since these new privileges are available immediately – higher fees can not be reached until December 2 or after renewal of higher fees – Card members have a valuable window to lock in value before prices rise.
This is my suggestion.
Register before spending
Activate new hotel credits and make sure you have registered for other credits (for Adobe, Dell, Indybled, etc.) to make sure they trigger correctly.
Plan 2 hotels for one year
Hotel credit lines that can reach up to $300 every six months are outstanding. Even if you only use a $300 credit to offset the $200 fee.
Ensure the use of the second half of 2025 credit line by the end of this year.
To maximize credit, my advice is to book a one-night stay at an American Express Premium Hotel + Resort property (often more expensive) or collect properties at a hotel (often cheaper, but minimum two nights).
Maximize technology-centric credits
- Adobe: Transfer your Adobe subscription to this card to maximize your $250 credit.
- Dell: Refresh teams and devices by the end of the year using the $1,150 allocation of the extension.
- Other credits: Continue to use monthly wireless and quarterly credit lines – although monthly wireless credits of up to $10 do require updates.
Activate Leaders Club Pound Status
Register for free at the Leadership Club and then register for Sterling identity.
(This is an unusual inclusion because the Leaders Club is not a transfer partner for the American Express, but identity will be useful if you stay in these luxury properties regularly.)
Strategically use salary with points bonuses
Remember that when you book a qualified flight through American Express Travel, you will receive 35% of your points.
CodeShare flights sold by the airline of your choice (for example, Virgin Atlantic Flight sold by Delta Air Lines) will still qualify for a 35% bonus as long as you book through American Express Travel.
Related: Everything you need to know about AMEX payments
Consider big spending bonuses
If you spend at least $250,000 in 2025, you can unlock $1,200 of AMEX Travel Flight Areds points and $2,400 of AP points in 2026. (One AP is AMEX’s automatic payment platform; it’s a niche for big companies, but the benefits for big companies are compelling benefits.)
What are the new card members?
With this refresh, Business Platinum has been strengthened as a premium business reward card focused on the travel and high consumption categories – price tags to match. If you can:
- Buy in bulk $5,000 or more purchase or cloud/software, construction, electronics or transportation providers
- Frequent travel, access using the lounge, hotel elite status and accelerate safety
- The spending threshold of $250,000 may end up reaching $3,600
- Unlock all value from Hotel, Adobe and Dell Points
- Stay in a luxury hotel twice a year
Registration required for selected benefits
If your business isn’t spending much on travel or technology, this card may not be suitable. However, if you can take advantage of its privileges and bonus categories, you can bring huge value.
If you are interested in applying, it’s time to do so, as AMEX currently offers its highest public reward ever on this card: New business Platinum applicants can earn $20,000 on qualified purchases for spending $20,000 in the first three months of a card member.
Based on our September 2025 valuation, these 200,000 membership reward points are worth $4,000. This makes it one of the most valuable welcome quotes we see on any card.
My opinion: Is it still worth it?
This refresh is subtle but arguably clearer than personal platinum: This makes commercial platinum feel more like a comprehensive business trip and tech card than just a lounge pass for business owners (and their employees).
What works?
- Hotel credit is a major addition, even using one of the credit lines exceeding $200 in annual charges.
- Now, the enhanced bonus category now rewards large businesses with more abundant purchases.
- The 35% flight bonus still makes this card a bit powerful for redemption points.
- Enhanced Dell and Adobe points add real value to many businesses.
What is missing?
- The $10 per month wireless credit is too low to make sense.
- Flights or hotels booked directly still have no rewards – prepayment only for bookings via Amex Travel.
- I would like to see a wider range of bonus categories (such as advertising, gasoline/electric vehicle charging and office supplies).
Over time, the card has transformed from an administrative travel card to an advanced spending tool for businesses with massive travel and regular operating expenses. If you can take advantage of its credits and boost your income category, it definitely deserves the new $895 price.
Bottom line
Refreshing American Express commercial platinum is more expensive, but makes more sense, especially for companies that spend a lot of money on travel and technology.
If you are keeping the card, sign up for new benefits now and plan to stay at least $300+ hotel by the end of the year to lock in value before the next contract renewal.
And, if you are considering applying, this refresh makes it stronger than ever, as long as you can make the most of its benefits.
Related: The Best Business Credit Cards to Add to Your Wallet
