American Express has increased the annual fee to $695 for Business Platinum cardholders and added new benefits. New cardholders have until 1/13/22 to apply and get the old annual fee of $595 for the first year but we didn’t know what would happen to existing cardholders.
American Express has now sent out e-mails to existing cardholders advertising the new benefits and it also states ‘Starting at your next renewal on or after January 13, 2022, the annual fee for your enhanced Business Platinum Card will increase from $595 to $695’. Meaning if your renewal is before January 13, 2022 you’ll pay the $595 annual fee.
In my experience when American Express increases the annual fees like this they are extremely generous with retention offers to keep cardholders. So remember to call the retention department to get a deal for keeping your card.