Facing the Downgrade: American Express Business Platinum Card

All good things must come to an end; This was the case for the American Express business Platinum card earlier in the year. At an annual fee of $399, this card had initially boasted a minimum spend bonus of 75,000 points after $5,000 spend in the first three months. On top of this bonus was a 25,000 point referral bonus where many were able to capitalize on through both self and peer referrals.

Currently, the Business Platinum card stands on an annual fee of $499, a lowered 60,000 point bonus for a whopping $7,000 spend in the first three months. To top things off, the referral bonus dropped from 25,000 to 15,000.

What does this mean for churners?

For those who are familiar with the Amex Train, churners would begin the “train” by applying for the business platinum card, and upon meeting minimum spend, self refer to the Business Gold and Personal Platinum cards respectively. The increased fees and requirements will make this card a much harder sell compared to the other two. There is still plenty of value for those who can meet the minimum spend and have users to refer, but most (myself included) would write the card off as a churn-able option.