Business Platinum Card from American Express
130,000 MR points
The Primer to Avoiding Annual Fees
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Business Platinum Card from American Express
- Earn 90,000 MR points upon spending $15,000 in the first three months
- Plus, earn 40,000 MR points upon making a purchase in months 15–17 as a cardholder
- And, earn 1.25x MR points on all purchases
- Also, receive a $200 annual travel credit
- Transfer Membership Rewards points to Aeroplan, The British Airways Club, Flying Blue, and other frequent flyer programs for premium flights
- Unlimited airport lounge access for you and one guest at Priority Pass, Plaza Premium, Centurion, and other lounges
- Credits and rebates for business expenses throughout the year with Amex Offers
- Bonus MR points for referring family and friends
- Qualify for the card as a sole proprietor
- Annual fee: $799
6 Comments
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“override,”to get a promotional bank account from one of the Big 5 banks. THIS IS NOT TRUE FOR RBC, WHICH DOES NOT PROVIDE A MINIMAL FEE ACCOUNT TO WAIVE CREDIT CARD ANNUAL FEE. RATHER THEY REQUIRE THAT YOU HAVE A MULTI-PRODUCT REBATE BASED UPON HAVING 3 DIFFERENT PRODUCTS WITH THEM, INCLUDING AN INVESTMENT ACCOUNT AND ITS FEES AND WAIVERS IN ORDER TO WAIVE ANNUAL FEE FOR A CREDIT CARD.
The offers are very similar. Each account will require you to maintain a minimum monthly balance of $5,000–6,000, depending on the bank, lest they charge you $30 in monthly fees. In return, you get a slew of banking benefits and an annual fee waiver up to $120–150 for one credit card issued by that bank.
Top account from RBC offers $120 fee rebate towards c/c. Lower tier $39. But the bank accounts as you mention cost $30 or $16 a month, and there is no way to bring it to zero other then cancelling the checking account after receiving the c/c rebate.
Very interesting, it the first time I read something about that subject for the travel hacking. I do some strategy you mention. Year after year, we face those situation: keep or not to keep ?And right now with covid, it more about getting point then have advantage to travel. What is your feeling on this ? Thank for the perfect article !!!
In regards to dipping below the “maintain a minimum monthly balance” amount. You actually can dip below the required amount at 4am (assuming a business day). As long as you have the minimum monthly balance required in your account by end of the business day, you won’t be assessed the monthly fee.
You mentioned: “2019 TravelZoo exclusive offer for the American Express Platinum Card. This promo offered a free supplementary card (which could be used by the holder to register for Priority Pass and hotel statuses), and 5,000 bonus Membership Rewards points to boot.”
the 5k bonus MR … are you referring to the Annual Bonus of 5,000 MR when you charge $60k?
you know; funny thing happened .. amex put a (Credit limit) on one of my charge cards for the first time ever citing their concern about my spending and balances overall. (I do pay all balances in full each month however but my situation is unique). That said when it came time for the platinum annual fee renewal there wasn’t enough room on the strict limit (2,500) to put it through so it perhaps just wasn’t put through. Month 3 now and still hasn’t been charged.