Amex Business Platinum - worth the fee?

It’s renewal time, and I’m just not convinced it is worth it ($450 renewal fee). Yes, I like the lounges, but they are getting pretty lame, with most having only soda, celery, crackers, and anything else you have to purchase. WAY cheaper than they used to be. Free wi-fi is not a huge benefit anymore either, since most airports now have it.

The $200 credit for ONE airline is decent, if you actually use it, and aren’t just forcing yourself to spend that money on the one airline. You are locked in to one airline per calendar year, so it’s a bit more difficult if you don’t use primarily one airline, and travel quite a bit. Can’t use it on airfare, of course, just baggage fees, in-flight meals, drinks, etc.

Concierge services seems to have fallen a bit as well - used to be they could get some crazy deals, but no longer.

The rewards system is great, and the 25% bonus you get back on your account when you use points to redeem for travel is pretty fantastic, but how often can one use points? Once a year, at most?

Thoughts? Anyone know a secret on how to get the membership fee down?

I don’t know of a way to get the fee down… It’s never been waived in any promo…
Theo only time i’ve seen it is with an old job, where the company will pay for $100 of the fee (you pay the rest).
(edit: Since you’re renewing, you can call the cancellation line and either ask for a reduction of annual fee or get bonus MR points).

http://www.flyertalk.com/forum/milesbuzz/1328936-targetted-amex-plat-100k-prg-50k-mail-offers.html
targeted promo so not public, but if you get 100K bonus MR (member reward) points, it’s MORE than worth $495.
(edit: saw that u’re renewing so this would not apply regardless of target or not… )

Oh and Lounges - useless if u don’t fly a lot… gold if you fly often (especially if you have to connect a lot in hubs).

I no longer have one, as Citi AAdvantage Executive card works better for me. Same price ($450/yr), but that includes Admiral’s Club membership ($300-350/yr), no foreign transaction fees (a huge benefit to me that pays for the cost of the card several times over), has a smart-card chip (helpful for traveling in Europe), purchases count toward million miler status, at least this year, and there is no other way than ass-in-seat on AA anymore, and a pretty good concierge service that I don’t tend to use. If you fly AA, it is worth looking at, especially if you travel overseas and have significant foreign transaction fees. Otherwise, not so much.

I’m often on the fence about this as well every year at renewal time, but I keep renewing for these reasons (in no particular order):

  • lounges; depending on if there are lounges convenient to where you usually fly. Priority Pass is great overseas.
  • FHR program- excellent rates, room upgrade, breakfast included, late checkout, credit of $100 or so at each property toward food/services/spa etc.
  • Platinum travel- Usually excellent agents. My wife and daughter just spent the weekend at La Quinta Resort and agent called the property to get the full FH&R package for them even though the card is only in my name.
  • concierge- I use this for restaurant reservations at tough restaurants, but also for other help when necessary.
  • Starwood Gold membership- I don’t travel enough to get to Gold or Platinum on my own so this takes that “pressure” off.
  • $200 airline credit- I bought a gift card on Continental in December for what remained of my $200 (about $100). It was deposited directly into my United/CO credit bank and can be used against airfare on future travel.
  • No FX transaction fees.
  • Car rental coverage (though my car insurance provides this as well).
  • Option to pay with Cash & Points; 20% rebate on points,etc.

All in all, every year it works for me, though the $200 airline credit made it easier (especially when I learned of the gift card option).

That gift card option is a great one! Thanks for the tip!

One benefit that Amex provides that I forgot about is their add-on rental car insurance $24.95 per rental for $100,000 of coverage, not CDW, but coverage, which is fantastic and worth checking out: https://www295.americanexpress.com/premium/car-rental-insurance-mvt/home.do. Nothing else comes close, as far as I know, and a major reason why I keep my Starwood Amex.