The Business Platinum Card from American Express (Amex) is the company’s premium offering among business cards. The card is targeting the business owner who spends thousands of dollars on business-related travel every month. It is very similar to the American Express Platinum card for consumers. However, it does have some point-earning opportunities that are specifically geared to the business traveler.
By booking travel through the American Express travel portal (amextravel.com), cardholders can take maximum advantage of the benefits offered by this card. This is particularly important because the Business Platinum card carries a hefty $595 annual fee.
With that said, this is a card for frequent travelers. This is because the card has limited point earning opportunities for everyday purchases. In this article, we’ll take a closer look at the benefits and limitations of the Business Platinum card.
How Do Users Earn Points?
One of the best benefits of the Business Platinum card is the generous introductory offer. However, it comes at a cost. American Express will give new cardholders 75,000 Membership Rewards points if they spend $15,000 on qualifying purchases in the first three months of opening the account. See what we mean? This is not a card for the low-spending entrepreneur.
The Business Platinum card does offer other opportunities to earn points. The most lucrative way is when members book flights and prepaid hotels through amextravel.com. In these situations, cardholders will receive 5x Membership Rewards points. That’s an outstanding benefit when you consider that Membership Rewards points earned via travel expenses are redeemable at one cent a piece, which factors to a 5% rewards rate.
Cardmembers can also earn 1.5 points per dollar on other eligible purchases of $5,000 or more. This benefit is capped at 1 million extra points per year. After that they receive one point per dollar on all other purchases.
And points are transferrable to help cardmembers take advantage of special promotions being run by a select network of airlines and hotels.
What Other Member Benefits Are Included?
There are additional membership benefits that illustrate why the Amex Business Platinum is targeted at the frequent traveler. One of the best benefits for most cardholders is the access to the American Express Global Lounge Collection. This list includes Centurion Lounges, Priority Pass, Airspace and Escapes lounges and Delta Sky Clubs (for same-day Delta flights).
Another attractive benefit is the 35% airline bonus that is issued in the form of a rebate. In this case, members that book a flight through amextravel.com will receive a 35% rebate on their points. Rebates are capped at 500,000 points per year. Other benefits include up to $200 in annual statement credits on incidental fees charged by an airline you select (one airline only).
Travelers are eligible for up to $500 per covered trip for reasonable expenses if their trip is delayed by more than six hours for a covered reason. Furthermore, if cardholders have to cancel or interrupt their trip (for a covered reason) they are eligible for reimbursement of up to $10,000 per covered trip.
Beyond air travel, cardholders receive complimentary Gold status with both Hilton Honors and Marriott Bonvoy loyalty programs. Plus they receive complimentary memberships in Hertz Gold Plus Rewards, Avis Preferred, and National Car Rental Emerald Club Executive. And, users have access to Amex Fine Hotels & Resorts.
Cardholders also get a statement credit valued at $100 for Global Entry (once per four years) OR an $85 TSA PreCheck fee credit (once every 4.5 years). The credit cardholders receive is based on which application fee is charged to the card first.
Members are also eligible to receive up to $200 in statement credit (paid in $100 semi-annual increments) for purchases directly from Dell.
Other benefits include Uber VIP status including up to $200 in Uber credits for rides within the United States. These credits are split into monthly $15 monthly credit with a $20 bonus in December. A statement credit of up to $100 at Saks Fifth Avenue (one $50 statement credit for each half of the year). Cardholders are also eligible to earn points in the Nieman Marcus loyalty program, called inCircle.
Cardmembers also receive extended warranty protection that extends eligible manufacturer’s warranties of five years or less by up to one additional year. They also receive purchase protection against theft, accidental damage or loss (up to 90 days from purchase date) and return protection of up to $300 an item (excluding shipping and handling) on eligible items (up to 90 days from date of purchase when merchant will not take item back). Return protection is capped at $1,000 per calendar year per card account.
And these are the highlights. There are many additional benefits and services available to card members such as no foreign transaction fees.
What is the Annual Percentage Rate (APR)?
The Amex Business Platinum card is a “charge card”, not a credit card. The expectation is that cardmembers will pay their balance in full each month. With that in mind, the card does not have a preset spending limit. Cardholders have a general limit that will fluctuate based on purchase and credit history.
Do You Qualify?
The Amex Business Platinum card is for individuals with good to excellent credit defined as having a credit score between 690 and 850. The ability for some applicants with a credit rating in the high end of the good category is an advantage that other premium cards usually do not offer. Most business owners with established businesses likely already have a credit score that will qualify them for this card.
Does the Card Have Limitations?
Aside from the annual fee, the one limitation of the card may be its $20,000 per year minimum spending limit. However, if you’re a frequent traveler that will likely not be a problem.
Even if you hold this card for travel expenses, it is not a card that allows users to maximize points on everyday purchases. The ability to earn points with this card is largely focused on travel (airfare, hotels, etc.). But this limitation just means you may just want to supplement this card with another business credit card that has a better rewards structure for your everyday business purchases.
What Cards Are Similar to The Business Platinum Card?
The American Express Business Platinum card is similar in features to the Chase Sapphire Reserve card. Many of the benefits of the card are very similar, but the Sapphire Reserve card may be a better option for individuals looking for a card that lets them get maximum points for every purchase.
Business owners who want to stay in the Amex family of cards, but are not going to get the full value from the Business Platinum card, can choose the American Express Business Gold Card which offers similar benefits but with a lower annual fee of $295.
Frequent travelers will receive an assortment of benefits and other perks from the Amex Business Platinum card that easily outweigh the $595 annual fee. And that’s really what most users need to understand about this card. If your business regularly includes frequent travel, this card can make that travel more convenient and rewarding. In that way, membership has its privileges.
The Business Platinum Card from American Express
(Amex) is the company’s premium offering among business cards.
Earn 85,000 Membership Reward® points after you spend $15,000 on eligible purchases within first 3 months (see terms)
Premium Card for Frequent Travelers | Travel
The Chase Sapphire Reserve credit card is the premium offering in the Chase Trilogy of credit cards. This card is for frequent travelers only.
One of the Best Premium Travel Rewards Cards | Travel
The Platinum Card from American Express (Amex) is considered to be one of the premium travel rewards cards available.
Great card for frequent travelers | Travel
The Chase Sapphire Preferred
credit card is part of the Chase Trilogy of credit cards. The card is designed to appeal to frequent travelers who also want to maximize their opportunity to get points on everyday purchases
The Blue Business Cash Card from American Express
is a solid choice for small businesses and start-up companies that are looking for an easy way to maximize a cashback reward