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Premium business credit cards can offer amazing rewards and privileges for business travelers with significant business spending. You might be wondering if The Business Platinum Card® from American Express is worth the $595 annual fee (See Rates & Fees) and if it can help your business grow. It comes with airline fee credits, lounge access, and more. But is the Amex Business Platinum worth it?

The best metal credit cards can get you lounge access like at this Centurion Lounge at CLT. Photo by American Express

Business Platinum Annual Fee

The American Express Business Platinum has a $595 annual fee (See Rates & Fees), making it one of the priciest small business credit cards. Additional employee cards can cost up to $300 each but enjoy the Business Platinum benefits.

A Business Gold Rewards Card costs $45 per additional employee and a Business Green Rewards Card is free. The primary cardholder can get up to 99 additional cards.

Despite the high annual fee, there is a silver lining. Cardholders have a premium credit card with exclusive travel and retail perks. Maximizing these perks can provide more value than the fee.

There are no foreign transaction fees (See Rates & Fees).

Related: Best Small Business Credit Cards for Travel

Minimum Credit Score

Applicants will need excellent credit to have the best approval odds for this card. Having a minimum 740 credit score is recommended but a score above 700 can likely qualify.

Having an incorporated business (i.e., LLC, C-Corp, S-Corp) or an existing relationship with Amex can also boost your approval odds. Sole proprietors can also qualify but the review process might be more rigorous.

Related: How Hard Is It to Get the Amex Business Platinum?

Welcome Offer

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.

This welcome bonus has a higher spending requirement than cards with lower annual fees. Like other American Express credit cards, you can only earn this bonus once.

Earn Membership Rewards

You may like this card if you have other American Express credit cards that earn Membership Rewards. You can pool your points between your various cards for larger redemption amounts.

The Amex Business Platinum earns up to 5x Membership Rewards on purchases:

  • 5x points on flights and prepaid hotels on
  • 1.5x on each eligible purchase of $5,000 or more, up to 1 million additional points per calendar year
  • 1x points on all eligible non-bonus spending

Terms and limitations apply.

Membership Rewards Redemption Options

The Business Platinum Card® from American Express points are most valuable when redeemed for award flights on AmexTravel. Each point is worth 1.35 cents.

The redemption value is 1 cent each when booking the award flight and then Amex reimburses 35% of the redeemed points for a future redemption (up to 500,000 points per year).

Gift card redemptions are worth 1 cent each. Other award travel and cash redemptions are not the best options as points are worth 0.8 cents each or less.

Points can be worth more when transferring to airline and hotel partners including Delta, JetBlue, Avianca, and Hilton Honors. Most transfer partners have a 1:1 transfer ratio and you can transfer in 1,000-point increments.

Many of the airline partners are for international airlines but you can redeem points for domestic flights. Until international travel restrictions, ease the 35% redemption bonus can be the better option as it effectively makes each point worth 1.35 cents each.

Additional Card Benefits

The Business Platinum Card® from American Express can be worth it if you can employ the additional travel and retail card benefits.

Travel Perks

Most of the additional card perks are for business travelers:

  • American Express Global Lounge Collection (Centurion, Priority Pass, Delta Sky Club, etc.; enrollment may be required)
  • Gold tier Hilton Honors and Marriott Bonvoy Elite status
  • Preferred rental car privileges (Avis, Hertz, and National)
  • Cruise Privileges Program discounts

Cardholders can also enjoy a $200 airline fee credit (in the form of statement credits—enrollment required, terms apply). Additionally, cardholders can get a fee credit for Global Entry or TSA PreCheck. Trip cancellation and interruption insurance as well as trip delay insurance is also included.

Plus, cardholders can now breeze through security with CLEAR® (where available) and get up to $179 back per year on your membership when you use your Card. Terms apply.

When you’re ready to relax and need an escape, enjoy an unforgettable experience with Fine Hotels + Resorts. When you book with American Express Travel, you’ll receive an average total value of $550 in perks at over 1,100 properties.

The travel perks are valuable if you’re a frequent business flyer. Air travel numbers are picking up but still remain below their pre-pandemic volumes.

Retail Perks

There are several retail benefits that can save money.

  • Up to $200 Dell Technologies statement credits annually ($100 semi-annually, enrollment required)
  • Extended warranty (on select warranties of 5 years or less)
  • Purchase protection (up to 90 days on qualifying purchases)
  • Cell phone protection (starting April 1, 2021)
  • Pay Over Time (carry a balance with interest on purchases larger than $100)

While this card gives cardholders flexibility and has no preset spending limit, the amount you can spend adapts based on factors such as your purchase, payment, and credit history. Cardholders are expected to pay their card balance in full each month.

Additionally, the Pay Over Time option on the card lets you carry a balance with interest on purchases of $100 or more. The Pay Over Time feature can be worth it for lean months (terms apply). Purchases of $100 or more are eligible to be paid over time, up to the amount of your Pay Over Time limit on your account. You can choose to pay for these purchases over time with interest, or you can pay your full balance, whichever is best for your business. All purchases under $100 are due in full each month.

Card members must pay in full any charges not included in a Pay Over Time balance.

When the Amex Business Platinum is Worth It

You may consider having The Business Platinum Card® from American Express for these reasons:

  • Are a frequent flyer
  • Can use the travel perks
  • Can redeem the $200 Dell statement credit
  • Have other cards that earn Membership Rewards
  • Want to earn 5x points on AmexTravel bookings
  • Can use the 35% point redemption bonus on award flights

Business travelers that can use the air travel, hotel, and car rental perks can easily squeeze more rewards value from this card than the $595 annual fee.

When to Avoid the Amex Business Platinum

You should avoid the Amex Business Platinum for these reasons:

  • Don’t travel often
  • Cannot maximize the air travel perks ($200 airline fee credit, lounge access, etc.)
  • Won’t meet the welcome offer minimum spend bonus
  • Want more flexible point redemption options
  • Book business travel directly from travel provider instead of AmexTravel
  • Cannot afford the $595 annual fee
  • Don’t want to earn Membership Rewards

The Amex Business Platinum offers some amazing travel perks. Being able to earn 5x points on travel purchases is impressive too, but you must book your flights and hotel stays on AmexTravel to earn the bonus points. Other business credit cards have more flexible rewards programs.

You should also avoid the Business Platinum if you don’t travel enough to justify the $595 annual fee. Once your business travel schedule returns to its pre-pandemic levels, the Business Platinum may be an attractive option.

Business Platinum Alternatives

You may get more mileage from these small business credit cards with lower annual fees and different card features.

American Express Business Gold

The American Express® Business Gold Card is similar to the Business Platinum but has a more digestible $295 annual fee (See Rates & Fees).

Card benefits include:

  • Earn up to 4x Membership Rewards on purchases*
  • 25% points back on award flight bookings (up to 250,000 points back per year)*
  • $100 credit for The Hotel Collection
  • 1:1 airline and hotel point transfers

You don’t get free airport lounge access or automatic elite hotel loyalty status. But you can choose your 4x rewards categories for purchases. Your points are most valuable for award flight bookings.

*Terms apply.

Related: Amex Business Gold Card Review

Chase Ink Business Preferred Credit Card

The Chase Ink Business Preferred® Credit Card is another top contender. Its annual fee is $95 and it earns Chase Ultimate Rewards that can be worth 1.25 cents each (25% more) on any award travel booking.

  • Earn 3x points on travel and qualifying business purchases (up to $150,000 in combined annual spending)
  • Earn 1x points on non-bonus spending
  • 25% redemption bonus for award travel booked on Chase Ultimate Rewards
  • 1:1 airline and hotel point transfers
  • Primary rental car collision damage waiver (Amex Cards only have secondary coverage)
  • 100,000 Ultimate Rewards signup bonus ($1,250 value)

The Ink Business Preferred also has a different set of 1:1 travel partners including United Airlines, Southwest Airlines, and World of Hyatt. There are several overlapping partners.

Related: Ink Business Preferred Review


The Business Platinum Card® from American Express can be an awesome card to have in your business wallet if you’re a frequent flyer and can use the travel credits and lounge access benefits. However, the $595 annual fee and relatively restrictive point redemption options will deter occasional business travelers.


Does the Amex Business Platinum have a spending limit?

No, the Amex Business Platinum does not have a preset spending limit, providing more flexibility for cardholders. However, unlike a traditional card with a set limit, the amount you can spend adapts based on factors such as your purchase, payment, and credit history.

It’s important to pay your card balance in full each month to avoid hefty interest charges and to maximize the value of the Membership Rewards earned during each statement period.

The Amex Business Platinum offers the Pay Over Time feature that allows cardholders to set up a payment plan for purchases over $100 (terms apply).

How do you qualify for the American Express Business Platinum?

Below are the minimum qualifications to qualify for The Business Platinum Card® from American Express:

  • At least 18 years old
  • Are a sole proprietor or own an incorporated business
  • Are a U.S. resident
  • Earn small business income
  • Have an excellent credit score (low 700s or above)

Applicants may need to provide documents showing proof of income, such as recent tax returns. Currently have a small business credit card or a personal credit card can boost the approval odds too.

What is the Amex Platinum Business Card?

The Business Platinum Card® from American Express is the flagship small business card for American Express.

Its key benefits include:

  • Earn up to 5x Membership Rewards on purchases
  • Get up to 35% points back on award flight bookings (up to 500,000 points per year)
  • $200 annual airline fee credit
  • Complimentary airport lounge access
  • Global Entry or TSA PreCheck application fee credit
  • Fine Hotel and Resort on-site property credit ($100)
  • Hotel and car rental privileges
  • Annual $200 Dell statement credit ($100 semi-monthly)
  • Cell phone protection (starting April 1, 2021)

The annual fee is $595 and an annual fee can apply for additional employee cards. This card is best for frequent business travelers.

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.


Chase Sapphire Preferred® Card

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