The Business Platinum Card^® from American Express Review [2024]: Is It Worth the Fee?

American Express is known for offering premium rewards cards at a cost, but for some users, the perks make up for the price.

The Business Platinum Card^® from American Express is no exception. This small business card comes with a hefty fee, but for frequent travelers, it might be worth the expense. This The Business Platinum Card^® from American Express review will help you decide if this business card is right for you.

Premium Business Rewards

The Business Platinum Card^® from American Express

4.8

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

The Business Platinum Card^® from American Express

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See rates and fees | Terms Apply

Current Offer

Earn 120,000 Membership Rewards points after spending $15,000 on eligible purchases in the first 3 months

Annual Fee

$695

Rewards Rate

5X points on flights and prepaid hotels on Amextravel.com; 1.5X points on eligible purchases at U.S. suppliers of construction materials and hardware, U.S. retailers of electronic goods, U.S. providers of shipping, software and cloud systems, and eligible purchases of $5,000 or more (up to $2 million per year, then 1X); and 1X points per $1 spent on all other eligible purchases

Benefits and Drawbacks

Benefits

• Earn 120,000 Membership Rewards points after spending $15,000 on eligible purchases in the first 3 months
• 5X points on flights and prepaid hotels on Amextravel.com
• 1.5X points on eligible purchases at U.S. suppliers of construction materials and hardware, U.S. retailers of electronic goods, U.S. providers of shipping, software and cloud systems, and eligible purchases of $5,000 or more (up to $2 million per year, then 1X)
• Up to $200 statement credit per year for airline incidental fees
• $695 annual fee

Drawbacks

• High annual fee
• Requires good to excellent credit

Card Details

• Welcome Offer: 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.
• 5X Membership Rewards® points on flights and prepaid hotels on AmexTravel.com, and 1X points for each dollar you spend on eligible purchases.
• Earn 1.5X points (that’s an extra half point per dollar) on each eligible purchase 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.
• 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.
• $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year for incidental fees charged by your one selected, qualifying airline to your Card.
• $189 CLEAR® Plus Credit: Use your card and get up to $189 in statement credits per calendar year on your CLEAR® Plus Membership (subject to auto-renewal) when you use your Business Platinum Card®.
• The American Express Global Lounge Collection® can provide an escape at the airport. 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.
• $695 Annual Fee.
• Terms Apply.

Who should get the The Business Platinum Card^® from American Express?

As you’ll see in this review, the The Business Platinum Card^® from American Express is aimed mainly at business owners who make big purchases throughout the year — and can take advantage of the travel perks. Some of the travel perks include Gold Elite status with Marriott Bonvoy and Gold Status with Hilton Honors, premium airport lounge access, airline fee redemption, and more. Select benefits require enrollment.

If you don't have a lot of business expenses yet still want the travel perks, you may want to consider the The Platinum Card^® from American Express card as well. Understanding how the Platinum vs. Business Platinum cards compare with each other can help you make the best decision for your particular needs.

The Business Platinum Card^® from American Express is designed for those with good to excellent credit and is meant for business owners likely to use the card to pay for business travel and other expenses. If you don’t travel very much, the travel perks won’t matter as much, and the hefty annual fee won’t be worth the cost. If that sounds like you, consider getting a less expensive cash back card.

Card basics

Business Platinum benefits and perks

There are a few card benefits that can make the The Business Platinum Card^® from American Express worth the cost. Carefully consider whether you’d use them, though, before you commit to the card.

• Generous welcome offer: Earn 120,000 Membership Rewards points after spending $15,000 on eligible purchases in the first 3 months of card membership.

• Centurion Lounge access: Centurion Lounges are among the nicest airport lounges in the U.S., so this is one of the perks most valued by many premium American Express cardholders. This benefit also comes with access to the American Express Global Lounge Collection and lounge access to Delta Sky Club and Priority Pass Select. You must activate these benefits before you can use them.

• $200 airline fee credit: Receive up to $200 per year in statement reimbursements of fees paid to a qualifying airline of your choice. The credit covers checked bags and in-flight refreshments charged to your card. You'll need to select an airline to enroll in this benefit.

• Credit for Global Entry or TSA Precheck: After you apply for Global Entry or TSA PreCheck and pay the fee using your The Business Platinum Card^® from American Express, you’ll receive a statement credit to cover the cost. You’ll regularly receive these credits when you renew — and the statement credit is available to those who have Additional Cards on your account. This benefit also requires activation.
• CLEAR® Plus membership credit: In addition to its Global Entry or TSA PreCheck credit, cardholders can also get a $189 annual credit for an eligible CLEAR® Plus membership. To access this credit, you need to use your Business Platinum Card to pay for CLEAR Plus. Activation is required for this benefit.
• Trip cancellation and interruption insurance: If your flight is canceled because of sudden illness, inclement weather, jury duty, or even terrorist activities, you’ll now be entitled to up to $10,000 of reimbursement.¹
  
• Trip delay insurance: If your flight is delayed more than 6 hours, you can also be reimbursed for up to $500 in unexpected expenses per trip.²
• Cell phone protection: Receive up to $800 per claim for stolen or damaged cell phones when you pay your cell phone bill in full with this card.  You can have up to two claims per card account per 12-month period. A $50 deductible per claim may apply.³
  
• Exclusive perks at Fine Hotels & Resorts: Business Platinum cardholders get special perks at properties in the Fine Hotels & Resorts portfolio. Perks may include early check-in, late check-out, room upgrades, and free Wi-Fi.
  
• Pay Over Time: Cardmembers who choose to activate this option will be rewarded with some payment flexibility, allowing you to choose how and when to pay. That said, the balance that carries over will be subject to the card's regular APR. 

Drawbacks to the Business Platinum

While this card offers some fantastic travel benefits, it does have some drawbacks, including a high annual fee. Carefully consider if this card is worth it for you before you apply.

• Annual fee: This card has a high annual fee of $695 . While this can be offset by its numerous perks, you need to make sure the benefits outweigh that cost for you. 
• Priority Pass restaurant credit: While you do get Priority Pass lounge access with this card, you will no longer get a credit for Priority Pass restaurants. Unfortunately, Amex did away with this perk in 2019. 
• High spend for welcome bonus: If you want to earn the 120,000 bonus points, you'll need to spend $15,000 in the first 3 months.

Earning & redeeming Membership Rewards points

No card review is complete without taking a look at earning and redeeming your rewards. The rewards program with this card is a little complex, so it’s important to understand some of the ins and outs if you want the best possible value.

Best ways to earn

With the The Business Platinum Card^® from American Express, it’s all about the specific travel purchases. You’ll earn 5X Membership Rewards points for each dollar spent on flights and prepaid hotels on Amextravel.com. You must book through the American Express travel portal to earn those points on airfare and hotel stays.

All other eligible purchases net you 1X points. However, on eligible purchases at U.S. suppliers of construction materials and hardware, U.S. retailers of electronic goods, U.S. providers of shipping, software and cloud systems, and eligible purchases of $5,000 or more (up to $2 million per year, then 1X), you receive 1.5X points. That's up to one million extra points per year in these categories. 

You can also get 35% of your points back when you use points to book eligible flights through American Express travel. Up to 1,000,000 points back per calendar year. Terms apply.

Maximizing your redemptions

Booking flights through American Express travel is the best way to get the most out of your rewards redemptions because you can get 35% of your points back when you use points to book eligible flights through American Express travel, up to 1,000,000 points back per calendar year. Terms apply.

However, Membership Rewards points are also flexible in their redemption with partners. These flexible rewards make it easy to earn points through your spending and then use them for what works best for you.

You can use Membership Rewards points to redeem gift cards and make Amazon.com purchases, but the redemption value isn’t as high. Using your rewards for travel makes the most sense and will give you the best bang for your buck.

Business Platinum transfer partners

If you enjoy the flexibility of booking through another rewards program, Amex Membership Rewards has several hotel and airline transfer partners, including partners across the Star Alliance, Oneworld, and SkyTeam programs. Most partners will allow you to transfer your Membership Rewards points at a 1:1 ratio, with some exceptions. Here's a complete list of current partners.

• AeroMexico
• Air Canada
• Alitalia
• Aer Lingus
• Air France
• All Nippon Airways
• Avianca LifeMiles
• British Airways
• Delta Air Lines
• EL AL Israel Airlines
• Emirates
• Etihad Airways
• Hawaiian Airlines
• Iberia Plus
• JetBlue Airways
• Singapore Airlines
• Qantas Airlines
• Virgin Atlantic Airways

• Choice Hotels

• Hilton Honors
• Marriott Bonvoy

Business Platinum FAQs

Other cards to consider

While the The Business Platinum Card^® from American Express is jam-packed with benefits, you may want to compare it to the Ink Business Preferred^® Credit Card or Capital One Spark Cash Plus before finalizing your decision. Both offer valuable rewards for business owners with a lower annual fee.

If you prefer a travel rewards card, the Ink Business Preferred is a decent option. You can earn 3X points on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year; and 1X points per $1 on all other purchases. Plus, it's annual fee is just $95. By comparing the Ink Preferred vs. Amex Platinum Business cards directly, you can determine which is the best fit for you and your business.

If your goal is to earn cash back for your business, the Capital One Spark Cash Plus Card may be a better option. It offers 2% cash back on every purchase, every day; plus 5% cash back on hotels and rental cars booked through Capital One Travel and a $150.

Premium Business Rewards

The Business Platinum Card^® from American Express

4.8

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

The Business Platinum Card^® from American Express

4.8

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

Apply Now

Why We Like It

Earn 120,000 Membership Rewards points after spending $15,000 on eligible purchases in the first 3 months

See rates and fees | Terms Apply

Apply Now

See how these cards compare:

Capital One Spark Cash Plus

• Earn $1,200 after spending $30,000 in the first 3 months
• 2% unlimited cash back on every purchase, every day
• Charge card with no preset spending limits
• $150 cash bonus every year you spend $150,000 or more

Ink Business Preferred® Credit Card

• Earn 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening
• 3X points on travel and common business spending categories
• Flexible redemption options
• Additional employee cards at no extra cost