Was this the first year renewal or second year? I believe for first year renewal it has to go by the initial term but after that it would be on the raised fee, if there is a raised fee. That was how my AMEX Gold card works - my card is on its 2nd year, i.e. after first anniversary from the original Premium Reward Gold auto-converted to just Gold, the fee was $195 instead of $250. Next May it will be at $250.

That said, since AMEX no longer issues personal BonVoy card since it and Chase split the BonVoy card market, may be the $95 fee will stay until the card is sunset.

This year there were enough AMEX Offers with statement credit hence offset the annual fee. One of the 2 BonVoy business cards got a reasonable retention offer. Both cards rec'd a spend bonus offer that required enrollment though we only did it on one card as the spend bonus required a threshold which wasn't low. All in all the AFs were offset so we keep both for another year. Will re-valuate the situation when Nov comes again, since we still have one Chase BonVoy business card.