Good afternoon everyone. As part of my “Keep, Cancel or Convert?” series, I like to evaluate and reevaluate credit (and charge) cards to make sure they still deserve a spot in my wallet. 2 weeks ago, my $450 annual fee posted on my American Express Business Platinum Charge Card. I shared my outrage on the upcoming changes to the card and Shelli added her thoughts too. I am not going to go into all the nitty gritty details of the current card benefits and the upcoming card benefits, but I have decided to keep my American Express Business Platinum Charge Card until next December when the *gasp!* $595 annual fee posts to my account. Here is why this card is still worth the $450 annual fee I just paid…
I make good use of the $200 airline reimbursements each year, so that essentially drops the annual fee down to $250. I can justify the remaining $250 annual fee since I enjoy visiting the Centurion Lounges (especially the SFO Centurion Lounge). Getting free Marriott Gold Elite Status is nice, but Hilton Gold Elite Status is worthless to me, since I get Hilton Diamond Elite Status with the American Express Hilton Aspire Credit Card. I don’t rent many rental cars, but I appreciate the free National Emerald Club Executive Status, Avis Preferred Status, and Hertz Gold Plus Rewards Status. Also, if you have many friends or family members, you can add them as authorized users / employees and get each one an American Express Business Green Charge Card (no annual fee for Green cards). When you do that, each cardmember receives the $100 Global Entry reimbursement.
I don’t put much value on the free Priority Pass membership, since I have several memberships with other high end credit cards. I am cheap and don’t book Fine Hotels & Resorts. And I prefer to pay for travel with my Chase Sapphire Reserve Credit Card and earn 3x than earn 5x with the American Express Business Platinum Charge Card because I like the travel protections and benefits offered by Chase.
I am not looking forward to the upcoming changes and I am really not looking forward to the much higher annual fee. The only reason I keep my American Express Business Platinum Charge Card is for Centurion Lounge access, so it looks like I will have to get creative in order to access the Centurion Lounges after December 2019. I really wish American Express would offer a Centurion Lounge only card or membership, I would gladly convert to that card.
I know this post is not very useful for those of you who have annual fees posting after February, but if your annual fee posts before February, I say hold onto the card for 1 more year, go to the Centurion Lounges as much as possible, and try not to let the upcoming negative changes bring you down. If you have any questions, please leave a comment below. Have a great day everyone!
P.S. Check out other “Keep, Cancel or Convert?” blog posts here.