Updated at 10:50am PT on 12/5: According to the New York Times, Netflix paid $100 million to keep “Friends” for 1 more year. That is the power that “Friends” fans have over Netflix.
Good morning everyone. I am not sure if you heard the 2 big stories that broke Monday morning: Netflix was planning on removing the TV show “Friends” from their service beginning January 1 and American Express announced BIG changes to the American Express Business Platinum Charge Card. Not surprising, Netflix users freaked out and started complaining on Facebook and Twitter. Here are a few complaints from this USA Today article. After a few hours, Netflix reversed course and granted users’ wishes: “Friends” would be on Netflix through 2019. That’s one win for the little guys! But what about the second big story from Monday?
According to this Doctor of Credit post, the American Express Business Platinum Charge Card annual fee is increasing from $450 to $595 beginning in February 2019. In exchange for a $145 higher annual fee, here are the new benefits coming to the card (Frequent Miler also has some great insights about these new features):
- One year of complimentary Platinum Global Access from WeWork ($2,700 value), a network of premium workspaces around the world. With Platinum Global Access, enjoy over 300 workspaces in 75+ cities and 20+ countries.
- Up to $200 in statement credits annually for U.S. purchases with Dell on your Business Platinum Card.
- $100 hotel credit on qualifying charges at hundreds of properties in The Hotel Collection (up from $75) for new reservations made after January 1, 2019 when you book through Amex Travel.
Those 3 new features are worth approximately $0 to me and I hate going out of my way to get value for these new features. Even though my home PC and laptop are both Dell Computers, I do not have an immediate need to spend $200 a year at Dell. I have a full time job with a permanent office and I work on my blog when I am at home, so I do not need a WeWork membership (even though I have attended several SF Travel Hackers Meetups at WeWork locations and they are pretty cool locations). Lastly, I don’t want to book hotels through The Hotel Collection – I just don’t want to!
If you annual fee posts before February 2019, you will continue to pay the $450 annual fee. If your annual fee posts after February 2019, you will pay the $595 annual fee. Luckily, my $450 annual fee literally posted 2 days ago, so I don’t have to worry about the higher annual fee until December 2019, at which point I can evaluate how much value other American Express Business Platinum Charge Card holders have gotten out of the new features and decide if I want to keep the card open.
This brings me back to the beginning of this blog post. If “Friends” fans can complain to Netflix on social media and get Netflix to change their minds in a few hours, why can’t “small business owners” complain to American Express about the short notices and unnecessary changes to the American Express Business Platinum Charge Card? I’m sure our voices aren’t as loud as “Friends” fans, but we should at least try, what do we have to lose (except for an extra $145 for unwanted new features)?
If you have any questions or comments about
“Friends” the higher annual fee coming soon to the American Express Business Platinum Charge Card, please leave a comment below. Thank you and have a great day.