The Business Platinum Card^® from American Express Review [2024]: A Hefty Annual Fee Best for Travelers

Card basics

Card type	Business
Star rating	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.
FinanceBuzz value calculation3	Year one earnings: $2,062 Year two earnings: $562
Annual fee	$695
Welcome bonus	Earn 150,000 Membership Rewards points after spending $20,000 on eligible purchases in the first 3 months of account opening
Reward 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 (purchases eligible for multiple additional point bonuses will only receive the highest eligible bonus)
Recommended credit score	Excellent, Good
Foreign transaction fee	None

The Business Platinum Card^® from American Express card has a hefty annual fee, but if you travel often or have large business expenses, it can pay for itself quickly. The card includes a large number of luxury benefits for travelers, and savings options for business owners that gives you the best of both worlds when trying to maximize rewards and savings simultaneously.

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

The Business Platinum Card^® from American Express card has a distinct audience: business owners who travel frequently. If you own a business but don’t travel, I don’t think you’ll get enough out of this card to make it worth it.

But, if you travel for business frequently and your business has a lot of expenses, you can quickly make back the annual fee and enjoy plenty of luxury rewards, such as complimentary access to the Global Lounge Collection® and instant Marriott® Bonvoy Elite status.

Top benefits and perks

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 before committing.

• Generous welcome offer: Earn 150,000 Membership Rewards points after spending $20,000 on eligible purchases in the first 3 months of card membership.
• Global Lounge Collection® access: Enjoy exclusive and complimentary access to 1,400 airport lounges across 140 countries.
• $200 airline fee credit: Receive up to $200 per year in statement reimbursements of fees paid to a qualifying airline of your choice. The Amex airline credit covers checked bags and in-flight refreshments charged to your card. You must 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. This benefit requires activation.
• CLEAR® Plus membership credit: In addition to its Global Entry or TSA PreCheck credit, cardholders can also get a $199 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 you use your The Business Platinum Card^® from American Express card to pay for a trip and it’s canceled for a covered reason, you may receive reimbursement. ⁴
• Trip delay and baggage insurance: If your flight is delayed more than 6 hours, or your baggage is lost, damaged, or stolen, you may be reimbursed for your losses. ⁵
• 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.
• Marriott Bonvoy® and Hilton Honors™ elite status: Cardholders automatically get upgraded status with Marriott Bonvoy® and Hilton Honors™ without meeting the stay requirement, which provides access to exclusive benefits at each hotel.
• Rental car insurance and premium car rental privileges: If you pay for a rental car with your American Express card, you are covered for damage or theft. You can also receive upgraded status with various rental car programs. Benefits include upgrades, discounts, and priority service.⁶
• Business tools: Receive free employee cards to stay on top of expenses and earn rewards on employee purchases, receive year-end summaries, and access Vendor Pay by Bill.com free for one user.

Earning & redeeming Membership Rewards points

Potential earnings in years one and two

Here's a look at how your earnings can add up with The Business Platinum Card^® from American Express. To calculate these values, we used estimated spending by businesses in a variety of categories.

Remember, this is an estimation. The actual value will be determined by how much you spend and in which categories you spend.

Year one earnings: $2,062

Year two earnings: $562

These values are based on the FinanceBuzz Credit Card Rewards Valuation Model, which takes a look at points earned via spending, the welcome offer, and the annual fee.

Best ways to earn

To maximize your earnings with The Business Platinum Card^® from American Express, you should book your travel purchases through AmexTravel.com. You’ll earn 5X Membership Rewards points for each dollar spent on flights and prepaid hotels on Amextravel.com. However, you must book through the American Express travel portal to earn those points on airfare and hotel stays.

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.

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.

I know it can get a little confusing, but if you focus this card on your travel purchases and spending in key business categories, you’ll maximize your earnings. If you choose to use it for any other purchases, you’ll still earn 1x points, but you may find a better offer on other business credit cards for those categories.

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 as there are many Amex travel partners. These flexible rewards make it easy to earn points through your spending and then use them for what works best for you whether you redeem through AmexTravel.com or go through a travel partner.

You can also use Membership Rewards points to redeem gift cards and make Amazon.com purchases, but the redemption value isn’t as high. I suggest using your rewards for travel as it 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.

FAQ

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 Plus before finalizing your decision. Both offer valuable rewards for business owners with a lower annual fee.

Ink Business Preferred^® Credit Card

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, its annual fee is just $95. Like with Amex, if you book through the Chase Travel portal, you get 25% more in redemption value than if you booked elsewhere. The card also has a 1:1 points value with 14+ travel partners. You can compare the Ink Preferred vs. Amex Platinum Business cards directly to determine which is the best fit for you and your business.

Capital One Spark Cash Plus

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 unlimited 2% cash back on every purchase, every day; plus unlimited 5% cash back on hotels and rental cars booked through Capital One Travel and a $150 annual fee. This can be a good choice if you don’t travel frequently and won’t take full advantage of the travel benefits the Amex card offers for its hefty annual fee.

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 150,000 Membership Rewards points after spending $20,000 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 (purchases eligible for multiple additional point bonuses will only receive the highest eligible bonus)

Benefits and Drawbacks

Benefits

• Option to pay a portion of eligible charges over time, rather than in full monthly
• Seamlessly connects to QuickBooks® for easy reporting
• Includes cell phone insurance up to $800 per claim for damage or theft²

Drawbacks

• High annual fee that isn’t worth it if you don’t travel frequently
• High spend requirement to earn the welcome bonus

Card Details

• Welcome Offer: Earn 150,000 Membership Rewards® points after you spend $20,000 in eligible purchases on the 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, on up to $2 million per Card Account per calendar year. Purchases eligible for multiple additional point bonuses will only receive the highest eligible bonus.
• Unlock over $1,000 in statement credits on select purchases, including tech, recruiting and wireless in the first year of membership with the Business Platinum Card®. Enrollment required. See how you can unlock over $1,000 annually in credits on select purchases with the Business Platinum Card®, here.
• $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to the Card.
• $199 CLEAR® Plus Credit: Use your card and get up to $199 in statement credits per calendar year on your CLEAR® Plus Membership (subject to auto-renewal) when you use the 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.