Annual fee increases are a reality of travel rewards credit cards and a trend I don’t see going away any time soon.
The good news is more often than not, they come with a refreshed slate of perks and benefits — and sometimes, that refresh can really work in your favor.
That was the case for me when American Express announced it would level up The Business Platinum Card® from American Express, retaining all the benefits I’ve been enjoying over the last several months as a cardholder and debuting new ones, too.
While the annual fee is jumping to $895 (see rates and fees), I’ll easily get enough value out of the revamped product to justify keeping it in my wallet — so easily, in fact, that I anticipate squeezing $1,000 out of just three of its many benefits next year. Here’s how.
New $600 in hotel statement credits
To me, the most exciting new addition to the Business Platinum is a semiannual up-to-$300 statement credit on prepaid nights at hotels booked through American Express Travel® that are part of American Express Fine Hotels + Resorts or The Hotel Collection. The Hotel Collection requires a minimum two-night stay for reimbursement.
That’s a total of up to $600 in new statement credits per year, which is a huge improvement for the card’s value proposition. Plus, booking this way will get you access to some serious perks:
- Room upgrade upon arrival, when available at check-in (properties may exclude some room types, and some may only give you a room with a better view)
- Experience credit valued at $100, usually consisting of a property, dining or spa credit
- Complimentary daily breakfast for two people
- Guaranteed 4 p.m. late checkout
- Noon check-in, when available
- Complimentary Wi-Fi*
*When a property includes Wi-Fi in a mandatory resort fee, you’ll receive a daily credit equal to the property’s standard Wi-Fi cost.
As for how I’ll use the credits, I recently got a great tip from my colleague Giselle Gomez, senior credit cards editor at TPG, who pointed out that there are several affordable Las Vegas hotels in The Hotel Collection. I go to Las Vegas at least a couple of times per year (I’m already up to three trips in 2025), and I’ve been short on affordable points options since Marriott replaced Hyatt as MGM’s loyalty partner for its U.S. resorts.
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Thanks to these new credits, I see heavily discounted stays at properties like the Park MGM Las Vegas in my future.
Related: Hotels where your Amex Platinum hotel credit covers half (or more) of your stay
$200 Hilton statement credit
Before I took out the Business Platinum, its up to $200 (up to $50 per quarter) in Hilton statement credits on eligible purchases made directly with a property in the Hilton portfolio (enrollment required, Hilton for Business program membership also required) per calendar year was a benefit I knew I’d easily maximize — and that won’t be changing next year.
My husband and I are both holders of the Hilton Honors American Express Aspire Card and the Hilton Honors American Express Surpass® Card, and we stay at Hilton hotels and resorts frequently to maximize the benefits and statement credits we get from these cards.
Since taking out the Business Platinum this summer, I’ve had no problem finding ways to spend the extra up to $50 I get on the card each quarter. In the second quarter, I used it to offset the dog fee we incurred at Seattle’s Hotel 1000, a member of Hilton’s LXR Hotels & Resorts portfolio. Since we love traveling with our pitbull, this is an expense we encounter often and expect to use the Business Platinum for in future quarters.
In the third quarter, I used it to cover a valet parking charge at the Boeira Garden Hotel Porto Gaia, part of the Curio Collection by Hilton. Parking is another cost we frequently run up against as avid road-trippers. My daughter is 11 months old, so taking her on vacation means transporting a ton of gear and supplies. Having a car at our disposal makes it much easier to visit multiple locations, as we did on that Portugal trip between Porto and the Algarve. Of course, hotels aren’t exactly known for their affordable parking, so I foresee using the credit this way again, too.
Related: How to maximize the statement credits on Hilton’s cobranded credit cards
$200 airline fee statement credit
The $200 airline fee statement credit is another perk I love and expect to use in full next year.
Cardholders can select one qualifying airline to receive up to $200 back per year on baggage fees and other incidentals. I have the same benefit on The Platinum Card® from American Express, and I’ve always selected Alaska Airlines as my qualifying airline.
I live in Portland, Oregon, an Alaska hub, so I fly with the carrier at least a few times a year — but as a United Airlines loyalist, I don’t fly Alaska often enough to secure elite status that would confer free checked bags. Instead, I use the airline fee credit to get reimbursed for checked baggage charges, which I rack up often, given how much I have to pack to bring my baby (and let’s be honest, my shoe collection) along on trips.
While a combined up to $400 may sound like a lot to spend on checked bags in a year, Alaska charges a fee of $100 for overweight bags — and that’s on top of the normal $35 charge. That means that just a single 51-pound checked bag can eat up more than half of the yearly airline fee credit. Ask me how I know.
Related: 9 things to do when you get the Amex Business Platinum Card
Bottom line
When choosing a new credit card or evaluating the existing cards in your wallet, it’s critical to look at your spending and travel habits to make sure you’re getting enough value to justify the annual fees you’re paying.
But just because a card’s fee is high doesn’t mean the math won’t work out in your favor. In my case, my Business Platinum will get me more than enough back in statement credits to offset the annual fee.
The fact that the refreshed card will retain my current favorite benefits as well as introduce new ones makes hanging on to it a no-brainer.
To learn more, read our full review of the Amex Business Platinum.
Apply here: The Business Platinum Card from American Express
For rates and fees of the Amex Business Platinum card, click here.