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Savvy business owners know how to spend money wisely — including how to maximize credit card rewards.
If you’re looking for a premium business credit card and are willing to do the legwork to earn and redeem rewards, The Business Platinum Card® from American Express just might fit the bill.
However, this business card is not for everyone — its annual fee is high enough to exclude a large percentage of business owners. But in return for that fee, you get plenty of lucrative benefits.
The Business Platinum Card® from American Express
Rewards Rate
- 5x points on flights and prepaid hotels on AmexTravel.com
- 2x points on purchases at U.S. construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on each eligible purchase of $5,000 or more, up to $2 million of these purchases per calendar year (purchases eligible for multiple additional point bonuses will only receive the highest eligible bonus)
- 1x points on other eligible purchases
Welcome Offer
Elevated Welcome Offer: Earn 200,000 Membership Rewards® points after you spend $20,000 in eligible purchases on the Business Platinum Card® within the first 3 months of Card Membership.
Annual Fee
$895 (rates and fees)
Overview of The Business Platinum Card® from American Express
For businesses with fairly substantial annual spending, The Business Platinum Card® from American Express may be the ideal way to earn rewards while snagging great travel perks.
It has a steep annual fee, though, so you’ll need to analyze the card’s rewards program carefully before committing to it.
The card does offer numerous valuable benefits. You’ll get credits for expenses like TSA PreCheck®*, airline fees, and Dell purchases, all of which can help you recoup the annual fee.
However, unless you plan to book quite a bit of travel through American Express Travel®, you might think twice about this card. The highest rewards-earning category is on hotels and flights prepaid through amextravel.com.
Pay attention to your balance with this card as well. Certain purchases, up to a preset limit, can carry a balance. That’s your “Pay Over Time” option, which charges interest. Beyond that limit, you must pay all other balances in full (which can be a good feature as it minimizes how much you accumulate in interest).
Pros
- Bonus rewards for travel booked via amextravel.com
- Numerous travel benefits like lounge access, credits, and insurance protections**
- No foreign transaction fees
Cons
- High annual fee
- Very specific rewards categories
- High minimum spend to earn welcome bonus
Redeeming Rewards
Options for redeeming your Amex Business Platinum points include cash, gift cards, merchandise, and booking entertainment and travel.
One of the most lucrative ways to use your rewards, however, is by transferring points to a travel partner, which often yields the highest value per membership point.
American Express partners with brands like Air Canada Aeroplan, Delta SkyMiles, Hilton Honors, and Marriott Bonvoy.
You can check the full list of travel partners and their transfer rates on the Amex website, to determine how much your points could be worth. For example, 5 Membership Rewards® points equal 6 Marriott Bonvoy points.
READ MORE: How To Maximize Credit Card Rewards
American Express Platinum Business Card Benefits
If you’re big on travel benefits and premium experiences, that’s where this card really shines.
You’ll get a rich assortment of benefits, from reimbursement for TSA PreCheck® and certain airline fees to elite hotel status and valuable travel protections.
Most of these statement credits require you to enroll, so don’t ignore that step.
Business benefits
- Dell credit: Up to $150 in statement credits on U.S purchases directly with Dell Technologies and an additional $1,000 statement credit after you spend $5,000 or more on the card per calendar year (enrollment required)
- Indeed credit: Up to $360 annually in statement credits ($90 per quarter) for Indeed purchases on the card (enrollment required)
- Adobe credit: $250 statement credit after you spend $600 or more on U.S. purchases directly with Adobe per calendar year on the card (enrollment required)
- Wireless credit: Up to $120 annually ($10 per month) in statement credit for purchases made directly with U.S. wireless phone carriers on the card (enrollment required)
Travel benefits:
- Global Lounge access for over 1,550 airport lounges across 140 countries
- Maximum of $200 annual credit for eligible airline fees
- Up to $209 back per calendar year on your CLEAR® Plus Membership (subject to auto-renewal)
- Statement credit to help with the cost of TSA PreCheck® or Global Entry for expedited security passage
- Up to $300 in statement credits semi-annually on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel (The Hotel Collection requires a minimum two-night stay)
- Complimentary Marriott Bonvoy® Gold Elite Status and Hilton Honors™ Gold Status (enrollment required)
- Fine Hotels + Resorts® program for luxury hotel experiences with an average $600 value over a two-night stay (perks like late checkout, daily breakfast, and room upgrades)
- No foreign transaction fees
- Preferred Access for sporting and cultural events
- Global Dining Access by Resy for exclusive dining experiences
- Premium car rental privileges (upgrades, discounts, and priority service)
- Business Platinum Travel Service with access to travel counselors and customized itineraries
- Baggage insurance**
- Car rental loss and damage insurance**
- Trip delay insurance**
- Trip cancellation/interruption insurance**
As you can see, the card offers plenty of value to offset the annual fee, since the business-related credits are worth more than $1,000 alone, and other travel credits are worth hundreds of dollars more.
Who Should Get the Amex Business Platinum Card?
Business owners with larger budgets are the ideal cardholders for The Business Platinum Card® from American Express.
With such a high annual fee, your spending needs to keep up — especially in the top rewards categories of construction materials, electronic goods, software, and cloud system providers.
The amextravel.com portal allows you to maximize your rewards. Businesses that book hotels and flights primarily this way should consider this card, as well as those who enjoy perks like upgraded status on stays at Hilton and Marriott Bonvoy properties.
Who Shouldn’t Get the Amex Business Platinum Card?
The Amex Business Platinum isn’t the best option for those who want very flexible rewards. The highest rewards rate is only usable if you book travel through the American Express travel portal.
Businesses with lower overall spending and little need for premium travel perks can also find a card with more useful rewards and a much lower annual fee.
Amex Platinum Business Card vs. Personal Card
American Express offers two options for the Platinum Card: one for business use and one for personal use.
They both come with the same annual fee and similar earning rates. However, also earns boosted points on flights booked directly with airlines, while the business card focuses on business purchases such as software and shipping.
While it may be tempting to use your business card for personal expenses — say, to ship birthday presents to friends overseas so you can earn points or to tap into the higher welcome offer — it’s important to keep your personal and business costs separate.
Not only will it make your life easier come tax time, but you could avoid some nasty surprises.
Alternatives to The Business Platinum Card
For premium perks with more flexibility
Chase Sapphire Reserve®
Rewards Rate
- 8x points on all purchases through Chase Travel℠, including The Edit℠
- 4x points on flights and hotels booked direct
- 3x points on dining worldwide
- 1x points on all other purchases
Welcome Offer
Earn 125,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
Annual Fee
$795
If you’re fine with a relatively high annual fee but want greater rewards flexibility, the Chase Sapphire Reserve® is a solid alternative to the Amex Business Platinum.
In terms of travel rewards and perks, the Sapphire Reserve is equivalent or superior to the Amex Business Platinum. You receive travel accident coverage and medical, dental, and emergency services reimbursement.
Much like the Amex Business Platinum, the Chase Sapphire Reserve offers partner benefits from brands like DoorDash and Lyft, as well as premium hotel experiences and global airport lounge access.
For a lower annual fee
American Express® Business Gold Card
Rewards Rate
- 4x points on the top two eligible categories where your business spends the most each month from 6 eligible categories, up to $150,000 in combined purchases (1x thereafter)
- 3x points on flights and prepaid hotels booked on amextravel.com
- 1x points on everything else
Welcome Offer
Earn 100,000 Membership Rewards® points after spending $15,000 on eligible purchases within the first 3 months
Annual Fee
$375 (rates and fees)
The Business Gold Card now comes in three metal designs: Gold, Rose Gold and Limited Edition White Gold. White Gold design is only available while supplies last. Make your selection when you apply on Americanexpress.com.
Before deciding on the Amex Business Platinum, you might want to check out the American Express® Business Gold Card. For a lower annual fee, you’ll get many of the same rewards and benefits as the Amex Business Platinum.
The Business Gold card provides valuable credits for purchases at FedEx, Grubhub, and office supplies (flexible combined credit up to $240 annually) and a Walmart+ membership. You also receive baggage insurance,** car rental collision coverage,** and trip delay insurance.**
The lower annual fee has some downsides, though. Business Gold Card members don’t get airport lounge access, and hotel room upgrades are a bit less flashy than with the Platinum. The Gold also doesn’t offer trip cancellation coverage or the $200 in airline credits.
FAQs
What is the American Express Business Platinum Card credit limit?
The Amex Business Platinum has no preset spending limit. However, this doesn’t mean you can keep charging as much as you like to the card. The amount you can spend will adjust based on things like your payment history, credit score, and spending habits.
Is the Amex Business Platinum a Charge Card?
American Express has several charge cards, and The Business Platinum used to be one of them — but that’s now changed with Amex’s Pay Over Time feature.
While you still technically have no preset limit with The Business Platinum (like with a traditional charge card), you do now have a Pay Over Time limit, which is an amount that can be carried over month to month, like with a regular credit card. Also like with a regular credit card, you’ll be charged interest on that balance.
As such, it’s a smart idea to pay everything off in full each month, even if you don’t technically have to, to avoid paying out extra money in interest.
The Bottom Line
The Business Platinum Card® from American Express is best suited to businesses that have high annual spending and require frequent travel. Since it comes with a very high annual fee, you’ll want to make sure you’ll get the most you can out of its rewards and benefits to offset that cost.
But if your business spending matches up, then you can earn a lot of valuable perks for using this card to pay for company purchases and to book business travel.
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* Receive either up to a $120 statement credit for Global Entry or a credit of up to $85 for TSA PreCheck after you apply through any Authorized Enrollment Provider. Only one credit will be given in a 4 year period for Global Entry or in a 4.5 year period for TSA PreCheck, depending on whichever application fee is charged to your eligible American Express® Card first.
** Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
Disclosure: Opinions expressed here are the author's 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.
