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Why the Amex Business Platinum Is the Ultimate Business Travel Card
August 30, 2024
Introduction
In today's fast-paced business world, choosing the right credit card can be a game-changer. Whether you're a solo entrepreneur hustling from your home office, a small business owner juggling multiple roles, or a corporate executive managing a large team, the right business credit card can be your secret weapon. Ready to level up your business finances? Enter the Business Platinum Card® from American Express, a premium travel card designed to elevate your business trips and provide unparalleled perks. In this comprehensive guide, we'll explore everything you need to know about this powerful card and help you decide if it's the right fit for your business.
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Key Features
- Annual Fee: $695. See rates & fees.
- Rewards:
- 5x points on flights & prepaid hotels booked on AmexTravel.com
- 1.5x points per $1 spent in business categories and eligible purchases of $5K or more everywhere else on up to $2 million per calendar year
- 1x point per $1 spent on all eligible purchases
- These points can be redeemed for travel, statement credits, gift cards, or transferred to Amex's 17 airline and hotel partners for potentially even greater value.
- 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
- Statement Credits and Benefits: Up to $200 airline fee statement credits per calendar year, up to $150 Statement Credit at Adobe Creative Solutions, up to $199 CLEAR statement credit, up to $360 statement credit at Indeed.com, up to $100 Experience Credit at The Hotel Collection (must book a two-night minimum The Hotel Collection stay through American Express Travel. Experience credit varies by property), up to $120 credit for TSA PreCheck or Global Entry application fee, up to $120 in statement credits per year for wireless telephone service purchases made directly with a wireless provider in the U.S. on the Business Platinum Card, and up to $400 in statement credits per year toward U.S. purchases with Dell Technologies
- Credit Score: Good to Excellent (670-850)
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. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
Who Is the Amex Business Platinum Card Best For?
The American Express Business Platinum Card shines brightest for business owners who frequently travel for work and want to enjoy luxury perks while earning valuable rewards. This card is ideal for:
- Frequent business travelers
- Those who value airport lounge access
- Businesses with high annual spending
- Entrepreneurs seeking premium travel benefits
Where the Amex Business Platinum Card Really Shines
The American Express Business Platinum Card is packed with premium benefits:
- 35% Airline Bonus: Receive 35% Membership Rewards® points back (up to 1,000,000 bonus points per calendar year) after you use the Pay With Points feature for all or part of a flight booked with American Express Travel if the flight is either First or Business class or on your selected qualifying airline
- Airport Lounge Access: Enjoy access to over 1,400 airport lounges worldwide, including Centurion Lounges, American Express Global Lounge Collection®, and Delta Sky Clubs (when flying Delta)
- Up to $200 Airline Fee Credit: Annual statement credit for incidental fees on your selected airline
- Global Entry or TSA PreCheck Statement Credit: Up to $120 credit every 4 years for application fees for Global Entry or up to $85 for TSA PreCheck
- CLEAR® Plus Credit: Up to $199 CLEAR credit
- Dell Technologies Credit: Up to $400 in statement credits annually for U.S. purchases
- Indeed Credit: Up to $360 in statement credits annually for recruiting and hiring services
- Adobe Credit: Up to $150 in statement credits annually for select Adobe purchases
- Wireless Credit: Up to $120 in statement credits annually for wireless telephone services
- Fine Hotels & Resorts Program: Enjoy elite-like benefits at luxury hotels worldwide (must book a two-night minimum The Hotel Collection stay through American Express Travel. Experience credit varies by property)
How Hard is it to Get an American Express Business Platinum Card?
While not the easiest card to qualify for, the American Express Business Platinum Card is attainable for many business owners with good to excellent credit (typically a FICO score of 670 or higher). Factors like your business revenue, personal income, and credit history are considered in the application process. American Express doesn't disclose a specific income requirement for the Business Platinum Card. However, given its premium nature and high annual fee of $695, it's generally recommended that your business has a strong, established income to justify the cost and maximize the card's benefits.
Can I Get Amex Platinum Business Card Without a Business?
Technically, you need to have a business to qualify for the American Express Business Platinum Card. However, American Express has a broad definition of what constitutes a business. This can include sole proprietorships, freelance work, or even a side hustle. You don't necessarily need to have a registered company or full-time business to apply.
Is the American Express Business Platinum Worth It?
The value of the American Express Business Platinum Card largely depends on your business spending habits and travel frequency. For many business owners, the card's benefits can far outweigh its annual fee:
- Frequent travelers can easily recoup the fee through lounge access and travel credits
- High-spending businesses can earn substantial rewards on large purchases
- The card's prestige and concierge services can enhance business relationships
However, if your business doesn't involve much travel or high-value purchases, you might find it challenging to justify the annual fee.
What are Excellent Alternatives to the American Express Business Platinum Card?
American Express® Business Gold Card
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The American Express® Business Gold Card packs a punch without breaking the bank. At $375 annually (see rates and fees), it's a steal compared to its pricier sibling. You'll earn 4X Membership Rewards points per dollar on the two categories where your business spends the most, on up to the first $150,000 in combined purchases, then 1 point per dollar:
- Airfare purchases directly from airlines
- U.S. purchases on online, TV and radio advertising
- U.S. purchases on computer hardware, software and cloud systems from select technology providers
- U.S. gas stations
- U.S. restaurants, including takeout and delivery
- U.S. shipping
If you redeem your points for flights through the Amex Travel portal, you'll get a 25% points rebate, up to 250,000 points back per calendar year.
The card also offers valuable benefits like no foreign transaction fees, purchase protection, and access to The Hotel Collection. While it carries a $375 annual fee, the potential for high rewards earnings and business-centric perks make it an attractive option for many small to medium-sized businesses looking to optimize their spending and travel experiences (see rates and fees).
Capital One Venture X Business
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The Capital One Venture X Business offers a compelling blend of premium travel benefits and straightforward rewards for business owners. Cardholders earn 2X miles on every purchase, with elevated earnings of 10X miles on hotels and rental cars booked through Capital One Travel, and 5X miles on flights booked through the same platform. The card features a $395 annual fee (see rates and fees), which is offset by a $300 annual travel credit for bookings made through Capital One Travel.
Additional perks include complimentary access to Capital One Lounges and Priority Pass lounges worldwide, a Global Entry or TSA PreCheck credit, cell phone protection, and the ability to add employee cards at no extra cost.
Ink Business Premier® Credit Card
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The Ink Business Premier® Credit Card, offered by Chase, is a premium business credit card designed for high-spending enterprises. It features a unique rewards structure, offering 2% cash back on all purchases with no limit, and an elevated 2.5% cash back on purchases of $5,000 or more. The card also provides 5% cash back on travel booked through Chase Travel℠. With a $195 annual fee, it offers benefits like travel and purchase protections, no foreign transaction fees, and employee cards at no additional cost. The Ink Business Premier stands out for its straightforward earning potential, making it particularly attractive for businesses with significant expenses or those preferring cash back over travel rewards. However, it's important to note that the rewards earned are cash back only and cannot be transferred to Chase's travel partners.
Capital One Spark Miles for Business
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The Capital One Spark Miles for Business is a straightforward and versatile travel rewards card designed for business owners who value simplicity and flexibility. It offers a flat-rate earning structure of 2X miles on every purchase, with no caps or category restrictions, making it ideal for businesses with diverse spending patterns. Cardholders also earn 5X miles on hotel and rental car bookings made through Capital One Travel. The miles earned can be redeemed for travel at a rate of 1 cent per mile or transferred to Capital One's airline and hotel partners for potentially greater value.
With a $0 intro annual fee, then $95 (see rates and fees), the card provides additional benefits such as no foreign transaction fees, purchase protection, and the ability to add employee cards at no extra cost. The Spark Miles for Business is particularly appealing to business owners who want to earn travel rewards without the complexity of tracking bonus categories or navigating a tiered rewards system.
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Conclusion: Is the American Express Business Platinum Card Right for You?
The American Express Business Platinum Card offers unparalleled travel benefits and rewards for business owners who frequently hit the road (or skies). While its high annual fee might seem daunting, the card's extensive perks and rewards potential can provide significant value for the right user. Before applying, carefully consider your business's spending habits and travel needs. If you're a frequent business traveler who values luxury perks and can take advantage of the card's credits and benefits, the American Express Business Platinum Card could be a game-changer for your business travel experience. Happy travels and smart spending!
FAQ: American Express Business Platinum Card
What is the annual fee for the American Express Business Platinum Card?
The card has an annual fee of $695.
What is the current Welcome Offer for the American Express Business Platinum Card?
You'll 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.
What is the spending limit of the American Express Business Platinum Card?
The card doesn't have a preset spending limit, but the amount you can spend adjusts based on factors like your payment and credit history, and spending habits.
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