Why are we calling this a “devaluation”?

Well, the credits now have some minimum spend requirements to them which make them over so much harder to use…

What’s Changing About The Business Platinum Dell Credit?

Traditionally, the The Business Platinum Card® from American Express gave up to $400 in Dell credits each calendar year, divided into two semiannual portions of up to $200 each (January – June, July – December). The key here was there was no minimum spend requirement to extract the full value of these credits.

This meant that you could (in theory) spend exactly $200 in the first half of the year and then $200 in the second half to get the full $400 back without needing to spend another dollar on Dell.

However, the new credits are not structured this way.

Until June 30, 2025:

• Up to $400 in Dell credits each calendar year:

  • Up to $200 January to June

  • Up to $200 July to December

• Enrollment required.

After July 1, 2025:

• Up to $1,150 in Dell credits each calendar year

  • Up to $150 in statement credits on US purchases directly with Dell

  • Get an additional $1,000 back when you spend $5,000 or more with Dell in a calendar year

• Enrollment required.

So, while the credits are technically “more,” you now need to spend $5,000+ on Dell in a calendar year to get the full value from this credit.

In the last 4 years since I’ve had the card, I don’t think I’ve even spent $5,000 cumulatively on Dell purchases.

This new credit structure is a clear filter against small businesses and sole proprietors who don’t put a significant amount of spend onto Dell purchases. If you can only get $150 of Dell credits out of the card, I can see the card being a tough value proposition for many.

However, if you spend enough to get the full Dell credits, then this new structure is incredible. It effectively provides a ~23% rebate on your Dell purchases, which is awesome, especially if you’re spending thousands on Dell every calendar year.

Of course, enrollment is still required to activate these benefits & terms apply.

What’s Changing About The Business Platinum Adobe Credit?

The standard Business Platinum Adobe credit has always been an up to $150 per calendar year statement credit on certain annual Adobe purchases (eg Adobe Pro DC).

Unfortunately, with the new credit structure, you can’t even access the credit unless you spend $600 or more per calendar year on Adobe purchases:

I’ve never used my Adobe credits before since the cost of the annual subscription always cost more than what the credits gave me; that is to say, I never actually truly needed an Adobe subscription and would have spent unnecessary money just to get the credit.

Now, with the new credit, I have been completely priced out. I don’t have any business that would use this credit effectively, and I am definitely not spending anywhere close to $600 a year on Adobe right now.

Again, I get the sense that this new credit is specifically attempting to filter out sole proprietors and smaller businesses. $600/year in Adobe is only going to be relevant for some bigger businesses.

Then again, if you are an individual purchasing Creative Cloud, then this will actually turn out to be a pretty effective discount for you. Creative Cloud costs ~$800/year for an annual prepaid plan, so the $250 credit turns out to be around a 30% discount.

What Should You Do With Your Business Platinum (If You Got It Before July 01, 2025)?

If you got the card prior to July 01, 2025, I think you should wait a little bit to evaluate the credits. If you were smart and used your prior Dell credits, then you’ll be able to get an effective up to $350 in statement credits this year ($200 from January – June, $150 for the rest of the calendar year).

With the rest of the Business Platinum’s credit, you should be able to come out on top pretty easily despite its $695 annual fee:

• Up to $200 Hilton Statement Credit: I value these at mostly face value since I have been staying at Hiltons for work and I can prepay in advance to use the credits for an upcoming stay in a different quarter

• Up to $120 Wireless Statement Credit: I use my Business Platinum to pay for a wireless bill, so I get good value out of this alongside the cell phone insurance provided by the card

• Up to $200 Airline Fee Statement Credit: I also value these close to face value since I use it to fulfill my United Travelbank

With just these credits (enrollment required) alone alongside the up to $350 from Dell, you’re extracting more than $695 out of the card.

When faced with your renewal, you’ll need to realistically consider if the new structure of the Dell & Adobe benefits are worth it to you.

Should I Get A Business Platinum Right Now?

I actually think it might be an ok time to wait before getting a Business Platinum right now.

The card is rumored to be undergoing a massive revamp/restructuring in the latter half of 2025. The card feels like it is in the middle of a “transitionary” period, given that some of the credits keep changing.

It might be best to wait a little bit until more news about what the new version of the Business Platinum card is going to look like. You can always apply closer to the card change date so you can lock in the old benefits of the card for a bit before the new card changes kick in.