Take the new $600 annual hotel credit, which sounds generous, but only works on prepaid stays booked through Fine Hotels & Resorts or The Hotel Collection via American Express Travel. The Hotel Collection requires a minimum two-night stay, and the rates are often higher than booking directly or using other travel portals. Additionally, as someone who values hotel elite status and the flexibility to modify reservations, I find prepaid bookings through Amex Travel unappealing.

The Dell credit is similarly frustrating. Sure, you can get up to $1,150 annually in statement credits, but only if you spend at least $5,000 on Dell purchases. My business doesn’t need $5,000 worth of Dell products every year. When I do need electronics, I don’t like having to limit myself to one vendor just to maximize a credit.

The Amex Business Platinum now offers credits that reset either semi-annually or annually, with some requiring a spending threshold to unlock. And many require enrollment to activate. I’ve concluded that, for an $895 annual fee (see rates and fees), I shouldn’t need to work this hard to break even. The mental overhead of optimizing these benefits has started to outweigh the value I’m getting from them.

Additionally, like many small business owners, I am in a growth phase. Every hour I spend optimizing credit card benefits is an hour I’m not spending on revenue-generating activities. The return on investing those hours into my business is exponentially higher than squeezing out an extra few hundred dollars in statement credits.

Despite all the recent changes, the Business Platinum still earns just 1X points on most purchases. Yes, they bumped certain categories to 2X points, but only on purchases of $5,000 or more and purchases in select categories.

I can get 2X points or 2% cash back on everything with rewards cards like the Capital One Spark Cash Plus ($150 annual fee) or the Wells Fargo Signify Business Cash Card (no annual fee). That’s a better return for how my business actually operates.

I understand inflation and added benefits, but at some point, the value proposition breaks down. And for me, paying nearly $900 annually for a card that requires this much effort to optimize just doesn’t make sense anymore.

For all the random business expenses that don’t fall into my other cards’ bonus categories, I’m earning twice the points I was getting with the Business Platinum.

Plus, it keeps my Membership Rewards account active, so I don’t lose any points I’ve already earned or forfeit the ability to transfer to Amex partners. I can still move points to some of my favorite airlines and hotels, like Delta and Hilton. I get the best parts of the Amex Membership Rewards points program, without any of the Business Platinum’s baggage.

Chase Sapphire Reserve for premium travel benefits

The $300 annual travel credit applies automatically to any travel purchase. It just works. I’ve used it on rental cars, Ubers, parking and transit without thinking about it.

The Priority Pass membership gives me access to airport lounges, and more importantly, Chase’s Sapphire Lounges are genuinely excellent. 

Most importantly, the Sapphire Reserve provides primary rental car insurance that recently saved me over $1,000 when I was charged for windshield damage in Paris. That single benefit more than offset the annual fee.

Chase Ink Business Preferred for everyday business spending

I earn 3X points on the first $150,000 spent annually on travel, shipping, internet, cable, phone services and advertising purchases on social media and search engines. These are categories where I genuinely spend money every month—not hypothetical spending I’d need to manufacture to maximize credits.

The Ink Business Preferred also has the same Chase Ultimate Rewards® ecosystem as my Sapphire Reserve, so I can transfer points to airline and hotel partners at a 1:1 ratio.

The 35% points back on flights

Centurion Lounge access

I’ll admit, when Centurion Lounges aren’t mobbed, they’re genuinely wonderful. The food quality is a cut above most airport lounges, with made-to-order options and occasionally local restaurant partnerships.

I’ve spent many a morning at the Centurion Lounge in the Denver International Airport, which is my home base. But I have access to other lounges thanks to cards like my Chase Sapphire Reserve and Capital One Venture X Rewards Credit Card.

The $200 airline fee credit 

Unlike some cardholders who struggle to use incidental fee credits, I never had trouble maximizing this one. Between checked bag fees, seat selection fees and in-flight purchases, I consistently used the full $200 every year.

What made this credit particularly valuable was its flexibility for family travel. Using the fee credit for my family enhanced their travel experience and made it more comfortable. These are not expenses I would typically cover out of pocket, but the credit significantly improved our travel experience.

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