Update 1/13/22: This change has been made and the fee is now $695.
A few months ago, American Express announced that the annual fee on the Business Platinum card would be increasing by $100 from $595 to $695.
Rather than implementing that change with immediate effect, they thankfully gave a few months advanced warning of that change. The annual fee increases tomorrow (January 13), so you’ll need to apply today if you want to save yourself a Benjamin by locking in the lower fee for the next year.
Your application only has to be received by January 12 rather than approved, so in the unlikely event that you don’t get an immediate decision from Amex, you’ll still only be charged $595 if your application is subsequently approved.
Although you can normally only receive a welcome bonus once per card from Amex, they sent out a bunch of invitations in 2021 to add a Business Platinum card to your membership. The notable thing with these applications is that they had No Lifetime Language (NLL) which meant you could earn the welcome bonus again even if you’d had the card in the past.
Some of those invitations expired on December 31, 2021, but more recent invitations are valid through March 31, 2022. My wife and I both received emails a couple of weeks ago with that March 31 expiry date, but we both applied in the last few days to get our applications in before the annual fee goes up on January 13. My application was approved, but unfortunately it was just under three months since my wife was last approved for a NLL Business Platinum card and so they declined her application for having gotten the card so recently.