Well here’s a change that I’m not happy to see (thanks to Jay for flagging this)…
Amex Pay With Points 35% rebate will be more restrictive
As of September 18, 2025, the Amex Business Platinum has changed its 35% Pay With Points rebate, for the worse. selects for their airline fee credit)
With this change, the Pay With Points rebate no longer applies to first and business class tickets on any airline, but instead, only applies to your designated US airline.
For those who have no clue what I’m talking about, let me provide a bit more detail. Amex’s Pay With Points feature lets you book flights using Membership Rewards points, typically at the rate of 1.0 cents of value per point. That’s not a great deal, at least based on my valuation of points.
But this is where the Amex Business Platinum has historically been useful. Cardmembers have received a 35% rebate on Pay With Points bookings for select airfare, which has offered up to 1.54 cents of value per point. This doesn’t just apply to the points earned on this specific card, but instead, applies to all Membership Rewards points linked to your account (so you could redeem all your Amex points this way, including those earned on other cards).
The major limitation was that you could only receive that rebate for first or business class airfare, or for your designated airline. Now that has changed, so that it only applies to your selected US airline. I frequently used Amex points for first and business class tickets on international carriers, so I’m sad to see this change.
On the plus side, at least this feature is sticking around on the designated airline. So if you fly one US carrier frequently, you can still get good value with Amex points this way.
Bottom line
As of September 18, 2025, the Amex Pay With Points 35% rebate with the Amex Business Platinum has changed. The rebate no longer applies to first and business class tickets on all airlines, and will instead just apply for tickets on one designated US airline. I’m sad to see this change, as it’s a benefit I frequently used.
What do you make of this Amex Business Platinum 35% Pay With Points rebate being adjusted?
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