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If having a business card with premium benefits and loads of perks is on your radar, look no further than The Business Platinum Card® from American Express. High-end benefits are available to those who travel often. This Amex Business Platinum Card review will help you decide if this American Express Platinum business card deserves a spot in your wallet. Now is a great time of the year to apply for credit card offers since banks usually increase welcome bonuses end of the year.
Plus, there’s an incredible welcome offer (more on that below). It is one of the best credit card offers available now.
120,000 Membership Rewards® points: The Business Platinum Card® from American Express
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.
The Business Platinum Card from American Express Review
Let’s start with some exciting stuff. Here’s what you need to know about The Business Platinum Card from American Express.
New The Business Platinum Card® from American Express cardholders have the opportunity to earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
The annual fee is $695 (See Rates & Fees).
In addition to the points, you can enjoy free airport lounge access, travel credits, and flexible point redemption options as well.
Key Features of the Business Platinum Card from American Express
The Business Platinum is a benefit-rich business card. These are some of the benefits available to you:
Cardholders earn 5x points on flights and prepaid hotels booked on AmexTravel.com. This is one of the best business miles cards for these reasons. Earn 1x points for each dollar spent on eligible purchases.
Cardholders earn 1.5x points (that’s an extra half point per dollar) on eligible purchases at US construction material, hardware suppliers, electronic goods retailers, and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
Additionally, cardholders can get a 35% airline bonus when using their points to pay for all or part of a flight with a qualifying airline booked on amextravel.com, up to 500,000 bonus points annually.
Cardholders can take advantage of the Pay Over Time Option, a flexible payment option to help manage cash for purchases of $100 or more (terms apply).
Additional Benefits
Additional benefits include:
- Complimentary airport lounge access to Centurion, Priority Pass, and other networks (enrollment may be required)
- Global Entry or TSA PreCheck application fee credit
- 1:1 airline and hotel point transfers
Plus, get up to $200 in statement credits per calendar year for checked baggage fees, lounge day passes, and more at one selected airline.
Additionally, unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
Cardholders can get up to $189 back per year on their CLEAR® Plus membership. CLEAR® lanes are available at 100+ airports, stadiums, and entertainment venues.
If you aren’t interested in so many benefits or want a rewards card but don’t think the Amex Business Platinum card is the option for you, check out the best small business credit cards for comparison.
Still, the Amex Business Platinum can be worthwhile, depending on your needs.
Welcome Offer for the Amex Business Platinum Card
New The Business Platinum Card® from American Express cardholders have the opportunity to earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
The minimum spend requirements are a lot higher than many other business cards. But if you know you will have big purchases, that may make it easier to earn the bonus.
Earning Membership Rewards
Every purchase earns up to 5x American Express Membership Rewards per $1 spent:
- 5x points on airfare and prepaid hotels booked through AmexTravel.com
- 1x point on everything else that is eligible
Cardholders earn 1.5x points (that’s an extra half point per dollar) on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
This card is one of the fastest ways to earn bonus points on airfare purchases. When most cards award up to 3 points per $1 at best, you get 5 points per $1. You can easily book award flights through American Express or transfer to one of the airline transfer partners.
Redeeming Points With the Amex Business Platinum Card
The most valuable point redemptions are for award travel. Specifically, they are best for award flights either through AmexTravel.com or the airline transfer partners.
You should avoid redeeming your points for cash rewards as they will most likely be worth less than 1 cent each.
35% Points Back
Your points are essentially worth 1.35 cents each when booking award flights through AmexTravel.com. Each point is worth 1 cent each when booking the flight and you get 35% of them back for your next redemption. For example, redeeming 10,000 points books a $100 flight and Amex puts 350 points back into your account.
This redemption bonus applies to one airline of your choice. Any first-class and business-class ticket booked on another airline can also earn points back.
It’s possible to get up to 500,000 points back each year.
Airline Point Transfers
There are currently several airline transfer partners where you can transfer your Membership Rewards and book award flights directly through the airline. Most partners let you transfer on a 1:1 basis in 1,000-point increments.
Domestic airline partners include Delta, Hawaiian, and JetBlue. Some of the top international partners include Asia Miles, British Airways, Etihad, and Singapore Airlines.
Point transfer can make your points valuable as airlines typically offer the best award redemption rates. However, you will need a flexible travel schedule and exert more effort to find award space.
120,000 Membership Rewards® points: The Business Platinum Card® from American Express
Travel Benefits
The annual fee is $695 (See Rates & Fees).
$200 Airline Fee Credit
Plus, get up to $200 in statement credits per calendar year for incidental fees charged by your one selected, qualifying airline to your Card.
Global Lounge Collection
The American Express Global Lounge Collection® can provide an escape at the airport. You have complimentary access to several airport lounge networks. The Centurion, International American Express, and Priority Pass lounges might be the most common ones you visit. Delta Sky Clubs are an option with an active Delta itinerary. Escape, Plaza Premium, and Air Space are also part of the Global Lounge Collection.
With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market as of 03/2023.
Enrollment is required for some lounges.
Global Entry or TSA PreCheck Fee Credit (and now CLEAR)
Save up to $100 the next time you apply for Global Entry or TSA PreCheck. Amex will reimburse your application fee.
Cardholders can get up to $189 in statement credits per calendar year on your CLEAR® Plus Membership (subject to auto-renewal) when they use their Business Platinum Card®.
Upgraded Hotel Elite Status
Owning The Business Platinum Card® from American Express also means you get Hilton Honors Gold Status and Marriott Bonvoy Gold Elite status (enrollment required).
Staying at Fine Hotels and Resorts lets you get a $100 amenity credit, free WiFi, daily breakfast for two, and space-available room upgrades (terms apply).
Travel Protection
You will also enjoy up to $3,000 in lost or damaged baggage protection. Secondary rental car collision damage waiver coverage and premium roadside assistance can also save you money when renting a car.
120,000 Membership Rewards® points: The Business Platinum Card® from American Express
Business Benefits of the Amex Business Platinum Card
The Amex Business Platinum Card can make it easy to maximize your air and hotel travel. This card also offers several business benefits.
Small Business Statement Credits
Additionally, unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
Card Fees of the Business Platinum Card from American Express
The annual fee is $695 (See Rates & Fees).
Additional Platinum Cards cost $300 each, or you can opt for Business Gold Cards which cost $45 each.
If you use all of the benefits that come with this card, the annual fee can be easily offset.
Amex Business Platinum Positives and Negatives
Here are some of the pros and cons of The Business Platinum Card® from American Express.
Amex Business Platinum Pros
- Earn up to 5x points per $1 spent
- Get 35% points back when booking award flights
- 1:1 point transfers to airline and hotel partners
- Up to $200 airline fee credit
- Complimentary airport lounge access (enrollment may be required)
Here’s how hard it is to get The Business Platinum Card from American Express.
Amex Business Platinum Cons
- Welcome offer has a high minimum spend
- $695 annual fee (See Rates & Fees)
If you can’t benefit from the travel perks or want something without such a high fee, the American Express® Business Gold Card lets you earn 4x points on your business spend (you earn on 2 select categories in which you spend the most monthly). The 4x points earned apply to the first $150,000 in combined purchases from these 2 categories each calendar year. The Business Gold Card also has a more reasonable $295 annual fee ($375 if the application is received on or after 2/1/24; See Rates & Fees). Learn more in our American Express Business Gold Card review.
The Business Platinum Card from American Express is one of the most luxurious business cards you can own. It’s worth it if you travel often and you can use the various air travel benefits. The flexible award flight redemption options also make it easy to redeem your points and save a small fortune on business travel.
120,000 Membership Rewards® points: The Business Platinum Card® from American Express
Alternatives to the American Express Business Platinum
Don’t feel like you will get enough mileage from the upcoming benefits to justify the fee hike? What makes The Business Platinum Card® from American Express unique is that it’s a premium business rewards card. Most business cards charge an annual fee of $100 or less but don’t offer the same level of benefits.
For that reason alone, you might decide to go with the Business Platinum. Or, you can try one of these cards instead.
American Express Business Gold Card
The American Express® Business Gold Card earns 4x points on the 2 select categories where your business spent the most each month (the 4x points apply to the first $150,000 in combined purchases annually, all other purchases earn 1x per $1 spent).
Only the top two categories in each billing cycle will count towards the $150,000 cap. Categories include:
- U.S. purchases at electronic goods retailers and software & cloud system providers
- Monthly wireless telephone service charges that are made directly from a wireless telephone service provider in the U.S.
- Transit purchases including trains, taxicabs, rideshares, ferries, tolls, parking, buses, and subways
- Purchases at U.S. media providers for advertising in select media (online, TV, and radio)
- U.S. purchases at gas stations
- U.S. purchases at restaurants, including takeout and delivery
Additionally, American Express Travel purchases through amextravel.com will now earn 3x points per $1.
All annual spending above $150,000 for the bonus categories and all non-bonus spending earns an unlimited 1x point per $1.
Business Gold cardholders also have access to a Pay Over Time Option that lets cardholders decide whether they want to pay for their eligible purchases in full each month or pay over time with interest (terms apply).
New American Express® Business Gold Card cardholders can earn 70,000 points after spending $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.
You can compare the Amex Business Gold vs Amex Business Platinum if you want more information.
Chase Ink Business Preferred Credit Card
You might decide to switch card rewards programs altogether. The Ink Business Preferred® Credit Card earns up to 3 points per $1 on travel and business purchases. It also has 1:1 transfer partners. Many partners overlap with Membership Rewards but you may find the Chase offers more suitable for your needs. You have exclusive access to United Airlines and Southwest Airlines too.
Compare the American Express Business Platinum vs Chase Ink Business Preferred if this sounds like something that may be of interest.
Summary
In conclusion, here’s a quick summary. The American Express Business Platinum comes with many perks that can be helpful for your business needs, especially if you also will use it for travel. Hopefully, this The Business Platinum Card® from American Express review has helped you determine whether this card is right for your business.
120,000 Membership Rewards® points: The Business Platinum Card® from American Express
Related articles:
- Best Business Credit Cards With No Annual Fees, Advertising Perks, & More
- 7 Best Business Credit Cards for Office Supplies
- The Best Business Credit Cards for Shipping Purchases
- Business Credit Cards for Cell Phones
And for rates and fees of The Business Platinum Card® from American Express, please click here.
For rates and fees of the American Express® Business Gold Card, please click here.
