American Express Changes 50% Rebate On Business Platinum Cards

One of the best enhancements for the Amex Business Platinum cards has been the 50% rebate on Membership Rewards when booking business class flights or economy on your selected airline. This great benefit made MR points automatically worth 2 cents each.

amex business platinum rebate

Changes To MR Points Rebate

Apparently American Express didn’t think this through and they’ve announced that they will lower the rebate rate to 35% beginning June 1, 2017. This change effectively drops the value of Membership Rewards points from 2 cents each to just 1.54 cents when redeemed for paid flights, which is a big drop.

There will also be a cap of 500,000 rebated points per calendar year.

American Express hasn’t made any change for for now to the Business Centurion card. Those cardholders will continue to earn the 50% rebate, and Amex will provide a 30-days notice if it opts to make a change to that benefit in the future.

New Cardmembers Will Earn 50% Rebate Longer

According to an Amex Travel rep (and several reader reports), if you signed up for your card between October 2016 and May 31, 2017, you’ll still receive the 50% rebate with no cap for one year from the date your card was issued.

For any other customers, you’ll need to purchase (but not fly) your flight before June 1, 2017 in order to receive the 50% rebate.

The rebate extension referenced below only applies to new accounts, so if you upgraded your card within that window you’ll only receive the 50% rebate through May 31, 2017.

Slower Rebate

Another piece of bad news is that Amex has slowed down the rebate. The 50% back in points used to post usually within 24 hours of making a redemption. Now we will need to wait 6-10 weeks.

This is a devaluation on its own since it makes it significantly harder to use those rebated points for the same trip. For a few people flying together, you would need to have enough MR points for all of them, without relying on the rebate.

Guru’s Wrap-Up

This is definitely a big blow for many who have applied for the Business Platinum card only for this benefit. The somewhat good news is that new members will be able to use the benefit for a bit longer.

HT: DoC and TPG

Advertisements

2 thoughts on “American Express Changes 50% Rebate On Business Platinum Cards

  1. Bummer. I haven’t gotten around to this benefit yet, but was thinking of using it for a couple of trips this summer. I guess I’d better book those trips before June 1. Lowering the rebate percentage is a devaluation of the card, but makes sense if it was costing Amex too much. Still sucks though… 😦

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s