American Express Announces Devaluation of Business Platinum Card Points Rebate

By Danyal Ahmed
June 18, 2025

Starting September 18, 2025, American Express will implement notable changes to the 35% Pay with Points rebate that is one of the most appealing features of the Business Platinum Card. This adjustment is set to significantly alter how cardholders can redeem points for airfare, particularly for those who frequently book premium cabin flights.

Changes to the 35% Pay with Points Bonus

Currently, cardmembers can enjoy a 35% points rebate when redeeming points for first- and business-class tickets purchased on any airline or for any cabin class on their selected airline for the annual airline fee credit. This benefit allows cardholders to reclaim up to 1 million points each calendar year. However, effective September 18, the eligibility for this bonus will change drastically. After this date, the rebate will only apply to flights booked through Amex Travel on the selected qualifying airline for the airline fee credit and will no longer include first and business-class tickets booked on airlines outside this selected airline category.

Qualifying Airlines

The qualifying airlines for the 35% bonus will include:

• Alaska Airlines
• American Airlines
• Delta Air Lines
• Hawaiian Airlines
• JetBlue Airways
• Southwest Airlines
• Spirit Airlines
• United Airlines

This restricted list consists solely of domestic carriers, which represents a major devaluation of the benefits previously enjoyed by Amex Business Platinum cardholders, especially for those who often traveled internationally on other airlines or premium classes.

Implications for Cardholders

The planned changes have raised concerns among users of the Business Platinum Card, as the 35% points bonus has been a significant incentive for business owners and frequent travelers. The recent trend of reducing benefits is noticeable, as just months earlier in October 2023, American Express also stripped the 25% points bonus from the American Express® Business Gold Card.

For those who hold multiple American Express cards, the 35% bonus has provided a valuable opportunity to accumulate points and maximize potential travel redemptions. However, with these upcoming restrictions, many users may find that the Business Platinum Card no longer offers the same level of value.

Possible Workarounds

While the loss of benefits associated with the card is disappointing, there may still be potential workarounds to utilize the 35% points bonus effectively. Current cardholders have until September 17 to make the most of the existing benefits. After the changes take effect, selecting specific airlines listed under the qualifying airlines may provide some additional flexibility for earning points.

It’s important to note that some domestic airlines are part of larger airline alliances, such as Oneworld, SkyTeam, and Star Alliance, allowing for codeshare flight options. For instance, a flight operated by British Airways but sold as an American Airlines ticket might still qualify for the 35% bonus if booked properly. As of this publication, American Express has not confirmed whether codeshare flights are eligible for the new rebate terms.

Conclusion

These changes from American Express reflect a broader pattern of devaluation that has potential implications for the card’s allure. While the Business Platinum Card still includes a range of advantages, the limitations imposed on redemption options may persuade existing and prospective cardholders to evaluate other business credit cards to find more favorable benefits.

For now, the focus remains on whether codeshare flights will be included in the new policy, which could soften the blow for frequent travelers. Until then, cardholders may want to reassess their travel strategies and consider the potential impacts of these changes on their future travel plans.