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Possibly the most luxurious business credit card is The Business Platinum® Card from American Express. If you travel often and want some high-end benefits, this can be one of your best options. This Amex Business Platinum Card review will help you can decide if this card deserves a spot in your wallet.
You will have the opportunity to earn 75,000 Membership Rewards as part of the welcome offer by spending $20,000 total in the first 3 months of account opening. Plus, you can enjoy free airport lounge access, travel credits, and flexible point redemption options as well.
Here’s what you need to know about The Business Platinum® Card from American Express.
Key Features of the Business Platinum Card from American Express
The Business Platinum is a benefit-rich business credit card. These are some of the benefits available to you:
- $200 airline fee credit
- $200 in annual Dell Small Business statement credits
- Complimentary airport lounge access to Centurion, Priority Pass, and other networks
- Global Entry or TSA PreCheck application fee credit
- Earn 5x point on flights and hotels booked on AmexTravel.com
- 50% bonus (1.5 points per $1) on purchases larger than $5,000
- 35% points back when booking award flights
- 1:1 airline and hotel point transfers
As you can see, the Business Platinum Card is a premium rewards credit card at its core. You will benefit the most from this card if you can regularly use the key benefits.
If you aren’t interested in so many benefits or want a rewards credit card but don’t think the Amex Business Platinum card is the option for you, check out the best rewards credit cards 2019 or the best credit cards for travel purchases posts. If you are looking for business credit cards, you may want to review the best Chase business credit cards for comparison.
Still, the Amex Business Platinum can be worthwhile, depending on your needs.
Welcome Offer for the Amex Business Platinum Card
New The Business Platinum® Card from American Express cardmembers can earn up to 75,000 bonus Membership Rewards points worth $750 in award travel. You earn the full bonus amount by reach these two spending milestones:
- 50,000 bonus points by spending $10,000 in the first 3 months
- Remaining 25,000 bonus points by spending an additional $10,000 (for a $20,000 total) in the first 3 months of card membership
The minimum spend requirements are a lot higher than many other business credit cards. But if you know you will have big purchases, that may make it easier to earn the bonus. You may wait to apply once you can at least spend $10,000 in the first 3 months to earn the standard 50,000-point bonus.
In addition to the bonus points, you also get one year of Platinum Global Access at WeWork. This benefit alone is a $2,700 value. Instead of finding the local cafe, you can use WeWork mobile office space as soon as your application is approved. You will need to enroll before December 31, 2019, to enjoy this promotion.
Earning Membership Rewards
Every purchase earns up to 5 American Express Membership Rewards per $1 spent:
- 5x points on airfare and hotels booked through AmexTravel.com
- 1.5x points on purchases larger than $5,000 (up to a million points annually)
- 1x point on everything else that is eligible
All bonus categories earn unlimited points so you don’t have to worry about quarterly or annual spending caps.
This card is one of the fastest ways to earn bonus points on airfare purchases. When most credit cards award up to 3 points per $1 at best, you get 5 points per $1. You can easily book award flights through American Express or transfer to one of the airline transfer partners.
The 50% bonus also makes The Business Platinum® Card from American Express one of the best credit cards for large purchases.
Redeeming Points With the Amex Business Platinum Card
The most valuable point redemptions are for award travel. Specifically, they are best for award flights either through AmexTravel.com or the airline transfer partners.
You should avoid redeeming your points for cash rewards as they will most likely be worth less than 1 cent each.
35% Points Back
Your points are essentially worth 1.35 cents each when booking award flights through AmexTravel.com. Each point is worth 1 cent each when booking the flight and you get 35% of them back for your next redemption. For example, redeeming 10,000 points books a $100 flight and Amex puts 350 points back into your account.
This redemption bonus applies to one airline of your choice. Any first-class and business class ticket booked on another airline can also earn points back.
It’s possible to get up to 500,000 points back each year.
Airline Point Transfers
There are currently 19 airline transfer partners where you can transfer your Membership Rewards and book award flights directly through the airline. Most partners let you transfer on a 1:1 basis in 1,000 point increments.
Domestic airline partners include Delta, Hawaiian (who is having their own Hawaiian Airline credit card bonuses), and JetBlue. Some of the top international partners include Asia Miles, British Airways, Etihad, Singapore Airlines.
Point transfer can make your points more valuable as airlines typically offer the best award redemption rates. However, you will need a flexible travel schedule and exert a little more effort to find award space.
These complimentary frequent flyer benefits help make the $595 annual fee worth it.
$200 Airline Fee Credit
This credit reimburses incidentals like checked baggage fees or in-flight purchases with one airline of your choice.
Global Lounge Collection
You have complimentary access to several airport lounge networks. The Centurion, International American Express, and Priority Pass lounges might be the most common ones you visit. Delta Sky Clubs are an option with an active Delta itinerary.
Escape, Plaza Premium, and Air Space are also part of the Global Lounge Collection.
Global Entry or TSA PreCheck Fee Credit
Save up to $100 the next time you apply for Global Entry or TSA PreCheck. Amex will reimburse your application fee.
Upgraded Hotel Elite Status
Staying at Fine Hotels and Resorts lets you get a $100 amenity credit, free WiFi, daily breakfast for two, and space-available room upgrades.
You will also enjoy up to $3,000 in lost or damaged baggage protection. Secondary rental car collision damage waiver coverage and premium roadside assistance can also save you money when renting a car.
Business Benefits of the Amex Business Platinum Card
The Amex Business Platinum Card can make it easy to maximize your air and hotel travel. This card also offers several business benefits.
$200 Dell Small Business Statment Credit
Amex gives you a statement credit for the first $100 spent at Dell Small Business in the first six months and second six months of each calendar year.
Vendor Pay by Bill.com
The first user gets free Basic Plan access at Bill.com to pay vendors.
You can monitor your spending by each employee through QuickBooks.
Card Fees of the Business Platinum Card from American Express
The annual fee for the primary card is $595 per year (See Rates & Fees).
Additional Platinum Cards cost $300 each or you can opt for Business Gold Cards which cost $45 each.
Positives and Negatives
- Earn up to 5 points per $1 spent
- Get 35% points back when booking award flights
- 1:1 point transfers to airline and hotel partners
- $200 airline fee credit
- Complimentary airport lounge access
- Welcome offer of up to 75,000 bonus points
- Welcome offer has a high minimum spend
- No bonus points for daily business purchases less than $5,000
- $595 annual fee
If you can’t benefit from the travel perks, the American Express® Business Gold Card lets you earn 4x points on your business spend (you earn on 2 select categories in which you spend the most monthly). You can also get 25% points back on award flights booked through AmexTravel.com. The Business Gold Card also has a more reasonable $295 annual fee (See Rates & Fees).
Its welcome offer is the ability to earn $500 back in the form of statement credits with the purchase of qualifying services at FedEx within the first 3 months of account opening. This offer expires on November 06, 2019, making it one of the best credit card offers 2019 if your business uses FedEx regularly.
Summing Up the Amex Business Platinum Card Review
The Business Platinum Card from American Express is one of the most luxurious business credit cards you can own. It’s worth it if you travel often and you can use the various air travel benefits. The flexible award flight redemption options also make it easy to redeem your points and save a small fortune on business travel.
For rates and fees of The Business Platinum® Card from American Express, please click here.
For rates and fees of the American Express® Business Gold Card, please click here.
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Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.