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The Business Platinum Card® from American Express Review: Premium Benefits for Business Owners
February 6, 2025
What Is The Business Platinum Card® from American Express?
The Business Platinum Card® from American Express is a premium business credit card designed for business owners who frequently travel and have significant business expenses. This card comes with a substantial annual fee but offers an extensive range of travel perks, statement credits, and rewards opportunities that can more than offset the cost for the right cardholder.
The card is built around American Express's Membership Rewards points system, which allows cardholders to earn points on various business purchases and redeem them for travel, merchandise, gift cards, or transfers to travel partners. The Business Platinum Card® from American Express stands out from other business credit cards due to its comprehensive travel benefits, including lounge access worldwide and elite status with hotel chains.
The Business Platinum Card® from American Express Pros & Cons
Before diving deeper into the card's features, let's examine the main advantages and disadvantages of the Business Platinum Card® from American Express.
Pros:
- Extensive Travel Benefits: Cardholders receive access to the American Express Global Lounge Collection, including Centurion Lounge access, Delta SkyClub access (when flying Delta), Priority Pass membership, Escape Lounges, Plaza Premium Lounges, and more.
- Valuable Statement Credits: The card offers numerous credits, including a $200 airline fee credit, $200 annual travel credit, $200 prepaid hotel credit, $120 wireless services credits, and up to $400 in Dell purchases credits annually.
- Hotel Elite Status: Automatic Hilton Honors Gold Status and Marriott Bonvoy Gold Elite Status can enhance your business travel with room upgrades, late checkout, and bonus points.
- Car Rental Benefits: Enjoy complimentary Avis Preferred Status and Hertz Gold Plus Rewards status.
- Flexible Rewards Program: Earn valuable Membership Rewards points that can be transferred to numerous airline and hotel partners, often with Amex transfer bonuses.
- Airport Security Benefits: Receive $120 Global Entry/TSA PreCheck fee reimbursement and a CLEAR credit to speed through airport security.
- Business-Specific Credits: Take advantage of up to $300 in Indeed statement credits and other business-focused benefits.
- Travel Insurance: Comprehensive coverage includes trip delay insurance, trip cancellation insurance, trip interruption insurance, baggage delay insurance, and lost or stolen baggage insurance.
Cons:
- High Annual Fee: The significant annual fee might be prohibitive for smaller businesses with limited expenses.
- Complex Benefits Structure: Maximizing value requires tracking and using multiple statement credits throughout the year.
- Minimum Spend Requirements: The welcome offer typically requires substantial spending within the first few months.
- Limited Bonus Categories: While the card offers 5x points on flights and prepaid hotels booked through Amex Travel, its everyday business spending bonus categories are somewhat limited compared to other business cards.
Who Is The Business Platinum Card® from American Express For?
Frequent Business Travelers:
If you or your employees regularly travel for business, the extensive travel perks—particularly lounge access and hotel status—can significantly enhance your travel experience.
Businesses with Substantial Expenses:
The card is most valuable for businesses that can easily meet minimum spend requirements for welcome offers and have enough regular expenses to generate significant Membership Rewards points.
Business Owners Who Value Premium Travel:
If you appreciate premium travel experiences and are willing to utilize the various credits and benefits, this card delivers exceptional value.
Sole Proprietorships and Larger Companies:
From sole proprietorships to larger corporations, businesses of various sizes can benefit, especially those with significant travel and technology expenses.
Comparing The Business Platinum Card® from American Express With Other Credit Cards
When considering Business Platinum Card® from American Express, it's helpful to compare it with other popular options in the business credit card category:
Capital One Venture X Business (rates & fees):
- Annual fee: $395
- Sign-up bonus: Substantial miles bonus after meeting spending requirements
- Key rewards: 10X miles on hotels and rental cars, and 5X on flights and vacation rentals booked through Capital One Travel
- Standout feature: 10,000 bonus miles each account anniversary
Ink Business Preferred® Credit Card:
- Annual fee: $95
- Sign-up bonus: Large points bonus after meeting spending requirements
- Key rewards: 3X points on travel, shipping, internet, cable, phone services, and advertising purchases made with social media sites and search engines on the first $150,000 spent
- Standout feature: Cell phone protection when you pay your monthly cell phone bill with your card
Each card offers unique benefits tailored to different spending habits and preferences. Consider your personal financial goals when choosing the best card for you.
Key Takeaways:
- Business Platinum Card® from American Express excels in offering an extensive range of travel perks, statement credits, and rewards opportunities
- Capital One Venture X Business offers high travel rewards
- Ink Business Preferred® provides strong points on business-related categories
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Consider Using Kudos
While the Business Platinum Card® from American Express offers exceptional benefits, savvy business owners can maximize their rewards even further by using Kudos, a free AI-powered browser extension that helps you get the most out of your credit cards whenever you shop online.
Kudos works with over 15,000 stores and automatically suggests which of your credit cards will earn the most rewards for each purchase. For Business Platinum cardholders, this is particularly valuable when making purchases across different bonus categories, ensuring you always use the right card at the right time.
During exclusive "Flash Boost" events, Kudos can help you multiply your rewards up to 5X, stacking with the already generous rewards from your Business Platinum Card. This combination can significantly increase your overall return on business spending.
If you're looking to get more out of your credit cards, Kudos is the best free shopping app to use when you shop online. And, they're currently offering $20 back after your first eligible purchase — just sign-up for free with code "GET20" and make a purchase at a Boost merchant.
Our Expert Takeaway
The Business Platinum Card® from American Express delivers exceptional value for businesses with significant travel needs and expenses. While the annual fee is substantial, the combined value of the statement credits, lounge access, hotel statuses, and rewards potential can far exceed the cost for businesses that can utilize these benefits.
The card especially shines for frequent travelers who value premium experiences, with the American Express Global Lounge Collection providing access to more airport lounges than any other card on the market. Additionally, the Fine Hotels + Resorts program offers valuable perks like room upgrades, early check-in, late checkout, and property credits.
For maximum value, business owners should develop a strategy to utilize the various statement credits throughout the year and leverage the Membership Rewards program by transferring points to travel partners when favorable transfer ratios are available.
Based on our analysis, businesses spending at least $10,000 monthly, with significant travel expenses, will find the most value in this premium business card. Smaller businesses with limited expenses may want to consider alternatives with lower annual fees unless the specific travel benefits are particularly valuable to their operations.
The Business Platinum Card® from American Express FAQ
What is the annual fee for The Business Platinum Card® from American Express?
The Business Platinum Card comes with a significant annual fee. Always check the American Express website for the current fee as it may change over time.
How do I qualify for the welcome offer?
To qualify for the welcome offer, you typically need to meet minimum spend requirements within the first few months of card membership. These requirements can be substantial, often in the five-figure range, so ensure your business has the spending capacity before applying.
Can I add authorized users to my Business Platinum Card?
Yes, you can add authorized users to your account. Additional cards come with an annual fee, but authorized users receive many of the same benefits, including lounge access.
How does the $200 airline fee credit work?
You must select one qualifying airline each year, and the credit applies to incidental fees like checked bags, seat upgrades, and in-flight purchases on that specific airline.
What lounges can I access with the card?
The American Express Global Lounge Collection includes Centurion Lounges, Delta SkyClubs (when flying Delta), Priority Pass lounges, Escape Lounges, Plaza Premium Lounges, and Lufthansa Lounges under certain conditions.
Can I use the $200 prepaid hotel credit and Fine Hotels + Resorts benefits together?
Yes, the $200 prepaid hotel credit can be used for Fine Hotels + Resorts bookings made through Amex Travel, potentially stacking both benefits.
Are there foreign transaction fees?
No, The Business Platinum Card® from American Express does not charge foreign transaction fees, making it an excellent choice for international business travel.
What types of travel insurance are included?
The card includes trip delay insurance, trip cancellation insurance, trip interruption insurance, baggage delay insurance, and lost or stolen baggage insurance. Some of these protections are underwritten by the New Hampshire Insurance Company, an AIG company.
How do I redeem Membership Rewards points for maximum value?
Typically, the highest value comes from transferring points to travel partners during Amex transfer bonuses. Redeeming points directly for travel through Amex Travel is also a good option, especially with the 35% points rebate on select bookings.
Do I need an established business to apply?
While having an established business helps, sole proprietorships can also qualify. American Express will consider your personal credit history, business revenue, and other factors during the application process. If initially declined, reconsideration is possible by providing additional information about your business.
Supercharge Your Credit Cards
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
