American Express is known for offering premium 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. The card comes with a hefty fee, but for frequent travelers, it might be worth the expense. This American Express Business Platinum review will help you decide if this card is right for you.
Premium Business Rewards
- 75,000 point welcome offer
- 5X points on qualifying flight and hotel purchases
- 1.5X points on eligible purchases of $5,000 or more
- Up to $200 statement credit per year for airline incidental fees
- Terms apply
- High annual fee
- Requires good to excellent credit
Who should get this card?
As you’ll see in this Business Platinum Card from American Express review, this card 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 automatic Gold Elite status with Marriott Bonvoy and Gold Status with Hilton Honors, premium airport lounge access, airline fee redemption, and more.
This is a premium charge card, so unless you enroll in the Pay Over Time feature, you’re required to pay off the balance at the end of each month.
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.
|Welcome Bonus||Earn 75,000 Membership Rewards points after you spend $15,000 on purchases within the first 3 months|
|Recommended Credit Score||Excellent, Good|
|Foreign Transaction Fee||None|
Top card benefits
There are a few card benefits that can make 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 75,000 Membership Rewards points after you spend $15,000 on purchases within the first 3 months
- 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.
- $200 airline fee credit: Receive up to $200 per year in statement reimbursements of fees paid to an airline of your choice. The credit covers checked bags and in-flight refreshments charged to your card.
- Credit for Global Entry or TSA Precheck: After you apply for Global Entry or TSA PreCheck and pay the fee using your 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.
- Trip cancellation and interruption insurance: Starting Jan. 1, 2020, 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.
- Trip delay insurance: Starting Jan. 1, 2020, if your flight is delayed more than 6 hours, you can also be reimbursed for up to $500 in unexpected expenses per trip.
Earning & redeeming
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
Travel. With this credit card, it’s all about the specific travel. You’ll earn 5X points for each dollar spent on flights and prepaid hotels booked through AmexTravel.com. You must book through the American Express travel portal to earn those points.
All other spending nets you one point per dollar. However, on eligible purchase of $5,000 or more, you receive an extra half-point, up to one million extra points per year. You can also get 35% of your points back when you use them to book flights.
|Travel booked through AmexTravel.com||5X|
|Purchases of $5,000 or more||1.5X|
|Use points to book flights||35% points return|
|All other eligible spending||1X|
Maximizing your redemptions
Because of the 35% point return when you use points to book flights, this is the best way to get the most out of your rewards redemptions.
However, Membership Rewards points are also flexible in their redemption with partners. There’s a 1:1 ratio with partners like Delta, British Airways, Hilton, and Marriott. These flexible rewards make it easy to earn points through your credit card 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 bank for your buck.
Here are some common questions about the Business Platinum Card from American Express.
How do you qualify for the American Express Business Platinum Card?
In general, you need to have good to excellent credit to qualify for the Business Platinum Card from American Express. Numbers wise, you’re likely to have better approval odds if you have a FICO score of at least 700.
Is the American Express Business Platinum Card a credit card?
Technically, no — it’s a charge card. As a result, you’re supposed to pay off the entire balance each month. However, American Express does offer a Pay Over Time option on this particular business card. Realize, though, that the interest rate for enrolling in this option is high, and you’re likely better off paying the balance each month.
Is the American Express Business Platinum Card worth it?
Whether this card is worth it to you depends on your situation. For small business owners who have a lot of expenses and who travel a lot, the hefty annual fee can be worth it. There are a lot of travel-related perks that can easily make up for the fee as well, especially if you do a lot of business travel and book through AmexTravel.com.
However, if you don’t travel much or make many business-related purchases, this card might not be the best choice for you.
Other cards to consider
While 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 for Business Card before finalizing your decision. Both offer valuable rewards for business owners with a lower annual fee.
Premium Business Rewards
Earn 75,000 Membership Rewards points after you spend $15,000 on purchases within the first 3 months
See how these cards compare:
Capital One® Spark® Cash for Business
- $500 cash welcome bonus
- 2% unlimited cash back
- Free employee cards
- No foreign transaction fee
Chase Ink Business Preferred Credit Card
- 100,000 point sign-up bonus
- 3X points on travel and common business spending categories
- Flexible redemption options
- Additional employee cards at no extra cost