American Express Business Platinum Axes Monthly Bonus: What UK Cardholders Need to Know

I've just received an email from American Express that's going to change the game for UK business owners who've been maximising their Membership Rewards points with the Business Platinum card. From 1st April 2026, the monthly 10,000-point bonus is disappearing—and whilst Amex is introducing new benefits to replace it, the maths tells a different story for most cardholders.

Currently, Business Platinum cardholders who spend over £10,000 in any calendar month receive a bonus of 10,000 Membership Rewards points. At its maximum, this could net you an extra 120,000 points per year—essentially doubling your earn rate to 2 points per £1 on those first £10,000 each month.

That ends on 31st March 2026. If you're a current cardholder and you manage to spend £10,000 in March, you'll receive your final monthly bonus. After that, it's gone.

The standard earning rate of 1 Membership Rewards point per £1 spent remains unchanged, but the opportunity to boost that to 2x on your first £10,000 monthly spend disappears entirely.

American Express isn't leaving cardholders empty-handed. From 1st April 2026, three new benefits will be added:

This is the most valuable of the new additions. Currently, Business Platinum cardholders receive £200 annually to spend at Amex Travel (which must be used in a single transaction). That stays, but now:

The catch? These are travel credits, not flexible points. You're locked into booking through Amex Travel, which doesn't always offer the most competitive rates. It's useful, certainly, but it's not as flexible as Membership Rewards points that can transfer 1:1 to British Airways Avios, Virgin Points, or any of Amex's other transfer partners.

Spend £60 or more with Enterprise in any month, and you'll receive a £20 statement credit. Do this every month, and that's £240 annually.

My take? This is incredibly niche. Unless you're regularly renting cars with Enterprise specifically, this benefit offers little value. It requires enrolment, and you need to remember to use it monthly. If you're not in the market for rental cars, it's essentially worthless.

You'll receive a 15% statement credit on your first transaction with Superscript each calendar year. Superscript sells business insurance—professional indemnity, public liability, that sort of thing.

The problem? Early reports suggest Superscript's quotes are running significantly higher than competitors. If their base rates are 3x what you'd pay elsewhere (as one forum user discovered), a 15% discount doesn't suddenly make them competitive. This feels like a benefit that sounds good on paper but delivers little real-world value for most cardholders.

Here's the crucial question: for someone spending £120,000 annually on the Business Platinum (the level needed to maximise both the old and new benefits), are you better or worse off?

To make a fair comparison, we need to value those missing 120,000 points. I typically value Membership Rewards points at around 0.75p-1p each when transferred to airline partners. Let's be conservative and use 0.75p:

In return, you're receiving:

Even if you maximise every new benefit, you're looking at roughly £640 in value versus £900 in lost points. That's a net loss of £260 annually for high spenders—and it gets worse if you're someone who values points closer to 1p each.

The monthly bonus was a game-changer for business owners with consistent monthly spending. Someone spending £10,000-£15,000 monthly was earning 2x points on a significant portion of their spend without needing to hit the stratospheric thresholds required for some premium cards.

These new benefits are clearly designed to push cardholders towards much higher annual spending thresholds (£60k or £120k) to unlock value. But they're less flexible, more restrictive, and ultimately worth less than the points they're replacing.

If you're a current Business Platinum cardholder, you've got until 1st April 2026 to decide:

Do nothing, and the changes will happen automatically. The card still offers excellent lounge access, hotel status benefits, and solid earning rates. But the value proposition at £650 annually has definitely weakened.

If you don't accept the changes, you can close your account before 1st April 2026. American Express will provide a pro-rata refund of your unused annual fee. Importantly, this doesn't affect your Membership Rewards points—they'll remain available as long as you hold another Membership Rewards-earning card.

The American Express Business Gold is free for the first year and has a much more palatable ongoing fee. It's losing its quarterly bonus too (10,000 points when spending £20,000 per quarter), but given both cards are losing their bonus structures, the lower-fee option might make more sense.

For business owners primarily interested in earning Avios, Capital on Tap offers straightforward 1 Avios per £1 with no annual fee on the standard card. The Pro version (£299 annually) offers 1.25 Avios per £1. It's not as feature-rich as the Business Platinum, but for pure points earning, it's become increasingly competitive—especially now that Amex has gutted the Business Platinum's earning potential.

You can see our full breakdown of the best UK business credit cards for Avios earning for more alternatives.

I currently hold the Business Platinum alongside Business Gold, and this change has me seriously reconsidering the value proposition of keeping both cards. The monthly bonus was genuinely valuable - it rewarded consistent business spending without requiring you to jump through hoops or hit unrealistic thresholds.

The new benefits feel like a poor substitute. Travel credits are useful if you regularly book through Amex Travel, but they lack the flexibility of points. The Enterprise benefit is so niche it'll be worthless to most cardholders. And the Superscript discount appears to be window dressing rather than genuine value.

For someone like me who values the airport lounge access (via Priority Pass and the Global Lounge Collection), hotel elite status benefits, and travel insurance, there's still value in keeping the card. But the gap between what you're paying (£650) and what you're receiving has definitely narrowed.

If you're on the fence, my advice is this: calculate your actual usage of the card's benefits beyond the points earning. If you're regularly using Priority Pass, staying at hotels where Gold status matters, and making use of the travel insurance, then £650 might still represent fair value. But if you were primarily holding the card for the points earning potential? It might be time to look elsewhere.

If you've been considering applying for the Business Platinum and haven't yet, now might actually be the time to do it. You can still qualify for the current welcome bonus (50,000 points after £6,000 spend), and you'll have the opportunity to earn the monthly bonuses through March 2026. Just be prepared for the significantly reduced value proposition once April rolls around.

Also worth noting: American Express changed the eligibility requirements in January 2026. You now must be a Director of a Limited Company or a Member of a Limited Liability Partnership. Sole traders and unlimited partnerships are no longer accepted.

This is a significant devaluation, no matter how American Express tries to dress it up. The monthly bonus was one of the Business Platinum's standout features - a genuine competitive advantage that made the £650 fee palatable for many business owners.

The new benefits simply don't offer equivalent value, especially for points collectors who value flexibility. If you're a current cardholder, now's the time to run the numbers on your own spending patterns and usage of the card's other benefits. And if you're considering applying, be clear-eyed about what you're signing up for beyond April 2026.

The UK points and miles game just got a bit less rewarding.

What are your thoughts on these changes? Are you keeping your Business Platinum, or is this the final straw? Let me know on Instagram.

Jack