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Earlier I wrote about how some major changes are being made to one of my favorite benefits of The Enhanced Business Platinum® Card from American Express. A 50% rebate on select Pay With Points redemptions was introduced as a perk as of last October, and it allows you to get up to two cents of value out of each point.
Unfortunately it looks like this was too generous, as this perk is being changed as of June 1, 2017:
- The Amex Business Platinum Card Pay With Points benefit will be reduced from a 50% refund to a 35% refund (meaning you’re getting ~1.54 cents per point of value, rather than 2 cents per point)
- There will be a cap of 500,000 rebated points per year
- The rebate is already taking 6-10 weeks to post, rather than just a day, as was the case before
If you only recently got the card, there’s at least some good news. Per Doctor of Credit, if you opened your Amex Business Platinum Card between October 2016 and May 31, 2017, Amex will honor the 50% refund, with unlimited points, for one full year from the date your card was issued.
It’s not surprising to see this move, given that credit card issuers are often required to give advance notice of changes to new cardmembers. Unfortunately this isn’t of any benefit to longtime cardmembers, who won’t get this benefit beyond June 1, 2017. So while the extension isn’t terribly exciting, it’s at least worth being aware of, in light of how lucrative the benefit is.
Too bad the rest of us get just over a month of advance notice of these changes. Oh well, I guess it’s a benefit we only had for a few months anyway…