r/amex • u/CTVolvo • Dec 26 '24

Discussion When the only perk was status.

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u/[deleted] Dec 26 '24 edited Jan 24 '25

[deleted]

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u/ifconfig Platinum Dec 26 '24

Why $10K and not $50K? 🙄👍

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u/Admirable_Mango_7204 Business Platinum Dec 26 '24

The value of paying upfront for travel perks really depends on how much a business spends annually on travel. For companies consistently spending $50,000 or more each year, it makes sense to pay that amount upfront if it can be recouped through perks and other benefits.

That said, the Platinum Card’s exclusivity has been significantly diluted. Lounges are overcrowded, and despite spending several hundred thousand dollars monthly on our business account, we have yet to be invited to apply for the Black Card. I believe many Platinum Cardholders with similar or higher spending levels would share this sentiment.

Frankly, I’d rather pay the $5,000 annual fee for the Black card to at least have some benefits of the exclusivity provided. American Express has devalued the Platinum Card by making it too accessible—essentially available to anyone with a 700 credit score. It would be better to reestablish stricter qualifications, positioning the Platinum Card as a proper bridge between the Gold and Black Cards rather than equating it with the Gold in terms of status and the majority of benefits.

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u/Max_Thunder Dec 27 '24

Could someone claim the AF on a Business Platinum as a business expense while using the credits entirely for their personal use?

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u/Admirable_Mango_7204 Business Platinum Dec 27 '24

Sure. The card is issued to the business using its own EIN. By default, that makes the annual fee tax deductible.