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If having a business card with premium benefits and loads of perks is on your radar, look no further than The Business Platinum Card® from American Express. High-end benefits are available to those who travel often. This Amex Business Platinum Card review will help you can decide if this American Express Platinum business card deserves a spot in your wallet.

This Amex Business Platinum Card Review can show you how you can visit the swanky dining and bar area at the Centurion Lounge at HKG. Credit: American Express

Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.

New The Business Platinum Card® from American Express cardholders have the opportunity to earn 100,000 Membership Rewards as part of the welcome offer. To earn the 100,000 bonus points, they need to spend $15,000 on eligible purchases on their card in the first 3 months of Card Membership.

In addition to the points, 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 card. These are some of the benefits available to you:

Cardholders earn 5x points on flights and prepaid hotels booked on AmexTravel.com. Additionally, cardholders can get a 35% airline bonus when using their points to pay for all or part of a flight with a qualifying airline booked on amextravel.com, up to 500,000 bonus points annually. They also get a 50% bonus (1.5 points per $1) on eligible purchases of $5,000 or more (up to 1 million points annually).

They also get up to $200 airline fee credit (in the form of statement credits—enrollment required) at one qualifying airline annually for baggage fees and other incidentals charged by the airline to your Business Platinum Card. Also, cardholders can take advantage of the Pay Over Time Option, a flexible payment option to help manage cash for purchases of $100 or more (terms apply).

This is one of the best business miles cards for these reasons.

Additional benefits include:

  • Complimentary airport lounge access to Centurion, Priority Pass, and other networks (enrollment may be required)
  • Global Entry or TSA PreCheck application fee credit
  • 1:1 airline and hotel point transfers

Another business perk you may appreciate is a Dell Small Business statement credit. To get the credit, cardholders must enroll to get up to $200 in annual Dell statement credits (cardholders get up to $100 semi-annually for U.S. Dell purchases – terms apply).

If you aren’t interested in so many benefits or want a rewards card but don’t think the Amex Business Platinum card is the option for you, check out the best small business credit cards for comparison.

Still, the Amex Business Platinum can be worthwhile, depending on your needs.

Additional Limited Time Offers

Eligible Business Platinum Card® from American Express cardholders can now earn 5x Membership Rewards points on U.S. purchases made across wireless, shipping, advertising, gas, and office supplies categories, through June 30, 2021, after they enroll in these Amex Offers. That’s four additional points on top of the one already earned per dollar spent in these select categories, up to 80,000 points per category.

Eligibility for this offer is limited. Enrollment is required in the Amex Offers section of your account before redeeming.

As you can see, the Business Platinum Card is a premium rewards card at its core. You will benefit the most from this card if you can regularly use the key benefits.

Welcome Offer for the Amex Business Platinum Card

New The Business Platinum Card® from American Express cardholders have the opportunity to earn 100,000 Membership Rewards as part of the welcome offer. To earn the 100,000 bonus points, they need to spend $15,000 on eligible purchases on their card in the first 3 months of Card Membership.

The minimum spend requirements are a lot higher than many other business cards. But if you know you will have big purchases, that may make it easier to earn the bonus.

Earning Membership Rewards

Every purchase earns up to 5x American Express Membership Rewards per $1 spent:

  • 5x points on airfare and prepaid 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 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 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, 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.

Travel Benefits

These complimentary frequent flyer benefits help make the $595 annual fee (See Rates & Fees) worth it.

$200 Airline Fee Credit

This credit reimburses incidentals like checked baggage fees or in-flight purchases with one airline of your choice. These come in the form of annual statement credits. Enrollment is required.

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.

Enrollment is required for some lounges.

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

Owning The Business Platinum Card® from American Express also means you get Hilton Honors Gold Status and Marriott Bonvoy Gold Elite status (enrollment required).

Staying at Fine Hotels and Resorts lets you get a $100 amenity credit, free WiFi, daily breakfast for two, and space-available room upgrades (terms apply).

Travel Protection

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 Statement Credit

Amex gives you a statement credit for the first $100 spent at Dell Small Business in the first six months and the second six months of each calendar year. Enrollment is required and terms do apply. This only applies to U.S. purchases.

Card Fees of the Business Platinum Card from American Express

As this is a premium card loaded with benefits, the annual fee for the primary card is $595 per year but there are no foreign transaction fees (See Rates & Fees).

Additional Platinum Cards cost $300 each or you can opt for Business Gold Cards which cost $45 each.

If you use all of the benefits that come with this card, the annual fee can be easily offset.

Positives and Negatives

Here are some of the pros and cons of The Business Platinum Card® from American Express.

Pros

  • Earn up to 5x points per $1 spent
  • Get 35% points back when booking award flights
  • 1:1 point transfers to airline and hotel partners
  • Up to $200 airline fee credit
  • Complimentary airport lounge access (enrollment may be required)

Here’s how hard it is to get The Business Platinum Card from American Express.

Cons

  • 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 or want something without such a high fee, 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*). The 4x points earned apply to the first $150,000 in combined purchases from these 2 categories each calendar year. 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). Learn more in our American Express Business Gold Card review.

*Terms apply.

The Business Platinum Card from American Express is one of the most luxurious business 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.

Where will you go with the Business Platinum Card® from American Express? Credit: American Express

Business Platinum Card from American Express Changes Coming

Editor’s Note: Most of the changes listed below have taken place. This post has been updated to reflect the current offer. While the annual fee has increased, the perks can help offset the fee and there’s a bonus offer worth noting. Keep reading to learn more.

If you’re thinking about getting The Business Platinum Card® from American Express, you might want to do it soon to take advantage of the large welcome bonus. No, this card isn’t going away. Yes, the $450 annual fee increased and is currently set at $595 (See Rates & Fees). 

While we never like to see an annual fee increase, the American Express Business Platinum card is offering more card benefits to offset the rate hike.

If you’re a big spender or have a big purchase to make and want travel rewards, you will like The Business Platinum Card® from American Express.

New The Business Platinum Card® from American Express cardholders have the opportunity to earn 100,000 Membership Rewards as part of the welcome offer. To earn the 100,000 bonus points, they need to spend $15,000 on eligible purchases on their card in the first 3 months of Card Membership.

Two American Express Business Platinum Card Benefits

The $145 annual fee increase is quite a jump for some people. But, maybe these additional benefits can convince you to keep your Business Platinum. Two benefits started in February 2019.

Also, Fine Hotels and Resort’s $75 on-site credit are now worth $100.

$200 Statement Credit with Dell

If you enjoy using Dell laptops and equipment, you will now get a $200 statement credit. To redeem the credit, you must purchase directly from Dell. This benefit is called “Shop Dell with Business Platinum.”

You must enroll to get up to $200 in statement credits annually by getting up to $100 semi-annually for U.S. purchases with Dell. This means you can get up to $100 in statement credits between January and June and up to $100 in statement credits between July and December for U.S. purchases with Dell on your enrolled Business Platinum Card (equal to up to $200 in statement credits annually). Terms do apply so be sure to check the fine print.

Shop with Dell can be similar to one of the Amex Platinum benefits, a $100 Saks Fifth Avenue shopping credit. Amex divides this credit into two $50 statement credits to shop at Saks in the first and second half of the year.

Benefits That Aren’t Going Away from the Business Platinum Card from American Express

While some cards have reduced their card benefits, the remaining Business Platinum Card benefits remain intact. These are some of the benefits you will continue to enjoy.

5x Membership Rewards Points on Airfare and Hotels

You earn 5 Membership Rewards points per $1 spent on airfare and hotels booked through Amex Travel. This is one of the highest reward rates you’ll earn from a flexible travel rewards card.

When you make large purchases of at least $5,000, you also earn 1.5 points per $1 spent instead of the base award rate of 1 point per $1.

Flexible Point Options

You can also transfer American Express points (known as Membership Rewards Points) on a 1:1 basis to many of the largest airline loyalty programs. Some of these programs include Delta Airlines, Emirates, Avianca LifeMiles, and JetBlue.

You might also find a better deal redeeming your miles for award flights on Amex Travel. You get a 35% redemption bonus (up to 500,000 points annually) when you book first-class and business class award flights. Since premium cabin flights usually have a better redemption value, point transfers should still be your first choice.

But, this is a good way to maximize your points when award flights aren’t available or if you fly an airline that isn’t a Membership Rewards transfer partner.

$200 Airline Fee Credit

Each year, American Express covers the first $200 in baggage fees and in-flight purchases for the airline of your choice.

Global Lounge Collection Access

Air travelers wanting to live the lifestyle of the rich and famous will also enjoy the free airport lounge access. As The Business Platinum Card® from American Express cardholder, you have access to several lounge networks including:

  • The Centurion
  • International American Express
  • Priority Pass (enrollment required)
  • Delta SkyClub

Enrollment may be required. Lounge locations will continue to open, so you will have more places to relax when waiting to catch your next flight.

Global Entry or TSA PreCheck Application Fee Reimbursement

Your application fee for Global Entry or TSA PreCheck is also reimbursed each time you apply for clearance. This is one benefit of The Business Platinum Card® from American Express that you’ll appreciate if you travel often for business.

Accelerated Hotel Loyalty Status

You can also get Marriott Status and Hilton Honors Gold Status (enrollment required). Benefits include space-available room upgrades, point earning bonuses, and other on-site perks.

Alternatives to the American Express Business Platinum

Don’t feel like you will get enough mileage from the upcoming benefits to justify the fee hike? What makes The Business Platinum Card® from American Express unique is that it’s a premium business rewards card. Most business cards charge an annual fee of $100 or less but don’t offer the same level of benefits.

For that reason alone, you might decide to go with the Business Platinum. Or, you can try one of these cards instead.

American Express Business Gold Card

The American Express® Business Gold Card earns 4x points on the 2 select categories where your business spent the most each month* (the 4x points apply to the first $150,000 in combined purchases annually, all other purchases earn 1x per $1 spent). Your bonus category options include:

  • Airfare purchased directly from airlines
  • Gas stations (U.S. purchases)
  • Shipping purchases (U.S. purchases)
  • Restaurants (U.S. purchases)
  • TV, radio, and online advertising (U.S. purchases)
  • Computer hardware, software, and cloud solutions technology provider (U.S. purchases)

Cardholders also have access to a Pay Over Time Option, which is a flexible payment option, with interest, to help manage cash flow on purchases of $100 or more (terms apply).

New American Express® Business Gold Card cardholders can earn 70,000 points after spending $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.* 

*Terms apply.

You can compare the Amex Business Gold vs Amex Business Platinum if you want more information.

Chase Ink Business Preferred Credit Card

You might decide to switch card rewards programs altogether. The Ink Business Preferred® Credit Card earns up to 3 points per $1 on travel and business purchases. It also has 1:1 transfer partners. Many partners overlap with Membership Rewards but you may find the Chase offers more suitable for your needs. You have exclusive access to United Airlines and Southwest Airlines too.

Compare the American Express Business Platinum vs Chase Ink Business Preferred if this sounds like something that may be of interest.

Summary

Here’s a quick summary. The American Express Business Platinum comes with many perks that can be helpful for your business needs, especially if you also will use it for travel. Hopefully, this The Business Platinum Card® from American Express review has helped you determine whether this card is right for your business.

Related articles:

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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