topic Re: Amex Business Platinum -is it worth keeping a14 years old card for the annual fee of $450? in Business Credit

Amex Business Platinum -is it worth keeping a14 years old card for the annual fee of $450?

Anonymous — Mon, 06 Feb 2017 05:22:54 GMT

Hi,

This card is my oldest card.I like the fact that it does not report to my personal reports.Also they gave me 33000 + pay over time 0% apr till nov 2017.

This card has served me well in the past but now cannot find reason to pay 450 dollars in annual fees?

How do folks here justify the fees for this card?

Am i missing anything?

Which is the best no fee business card to replace it with at the end of the year?

Re: Amex Business Platinum -is it worth keeping a14 years old card for the annual fee of $450?

Anonymous — Mon, 06 Feb 2017 06:16:06 GMT

If AMEX's policies regarding Business Charge cards are the same as I'd imagine they'd be for personal cards, it doesn't look like AMEX has a no-fee Charge card you could PC it to. The other Small Business Charge Cards AMEX has available is the Plum card ($250 AF) and the Business Gold Rewards ($175 AF). AMEX might have a retention offer available or even a sign-up/switch bonus available for you. I've found their chat employees are super pleasant and easy to deal with. It couldn't hurt to see what options you'd have to PC your card to.

I had the personal Platinum for a year, only because I snagged a 100k MR sign up bonus. The AF I paid for the year was well worth the MR points. I closed the card right before the AF hit as the benefits didn't suit me to continue to carry the card. It did feel nice having it in the wallet, but not $450/year nice

Re: Amex Business Platinum -is it worth keeping a14 years old card for the annual fee of $450?

Anonymous — Mon, 06 Feb 2017 16:47:05 GMT

I have the Biz Plat and I justify the fees like this:

$200 Travel credit is easu to use. I take 2-3 business trips a year and between buying airline GCs, baggage fees and in flight snacks, I wish the credit was more.

$450-$200=($250)

The 50% travel points rebate had been great. I was able to purchase an airline ticket for travel back at christmas becuase of the rebate I got from another trip I booked earlier that month. while its hard to put a value on that, for 2017 I have allocating $125 in my mind for that. ( it was a $250 ticket that i paid 0 for, so I give half for justiciation)

450-200-125=($125)

For trips I have taken since getting the card, I have not paid for any refreshments in the airport, and on that most recent trip above, I had a meal in the Amex lounge in LAS and refreshments in the OPEN lounge at LVCC which I can easily chalk to $40. (LAS convention costs are crazy so free drinks and snacks are a godsend)

I will make a very similar trip in April that will yield more convenience so that's another $40.

450-200-125-80=($45)

I just reapplied for my Global entry $100, I dont do much intl travel, but it's an easy thing and paid for.

450-200-125-80-100=$55 +

Lastly, I do allocate value to some of the fringe benefits, like the free internet, ReceiptMatch and Conceirge. (Plat concierge helped me get tickets to the SO's favorite group that I coudlnt, for face value, so they won a lot of cred for that ;-) )

Another benefit that is hard to put a cash value on, is the points bonus for charges above $5k. I make a few purchases throughout the year for clients' projects that are well above that, and I just bill them. So I get the benefit of that, paired witht the airfare rebate, makes it an easy choice. Plus the AF is dedictible since its a business expense.

When I signed up, I got the 75K points bonus as well, so my AF justication is set for 3 years so long as they dont remove any benefits. Then in 2018 I'll revist the value prop.

As far as justifying keeping the card, if you still operate as a business and need a carrying around charge card, there might be some benefit in PC'g to the Gold card, lots of catagories and opportunies for points bonuses therem that you wouldnt see on Platinum. The gold would give you $100 annual credit and that leaves $75 of value you have determine. Much easier than $250...

I'd say a 14yr "relationship" with Amex would be hard to walk away from, if you value it. But I dont know how you'd quantify that.

Hope this helps.

Re: Amex Business Platinum -is it worth keeping a14 years old card for the annual fee of $450?

Anonymous — Mon, 06 Feb 2017 16:51:34 GMT

Thank you Ozix and Jodysmithavl.

I have taken many international flights but it never occured for me to use those benefits.

I remember when I originally got this card , it was for Price Match[ I dont think Amex does it any more] and Extended warranty[ Tried once without success] and cash back[staples etc]

I will definitely do Global Entry.

Is there a particular forum to research how maximise benefits on this card?

Re: Amex Business Platinum -is it worth keeping a14 years old card for the annual fee of $450?

Anonymous — Mon, 06 Feb 2017 17:21:21 GMT

Ive never used or thought to use the pricematch. I have used the purchase protection for an iphone that I dropped a week after buying it, iPhone 6S dropped down storm drain, destroyed, very freak accident. Filed claim w/Amex Assurance and they paid the claim..I just bought another one..

(you of course, have to have made the purchase on the card originally)

Never had a reason to use the warranty, but I guess I could be useful.

I just make sure to read the disclosures and benefits from time to time to make sure I am not missing anything, and I read these forums to ensure I havent missed anything.