Editor’s note: This is a recurring post, regularly updated with new information and offers.
The Business Platinum Card® from American Express overview
The Business Platinum Card® from American Express is one of the best business rewards cards around, thanks to its large welcome bonus and the sheer number of value-added perks it offers cardmembers. While it requires some work to take full advantage of them, the effort can pay off with savings of hundreds or even thousands of dollars per year. Card rating*: ⭐⭐⭐⭐
* Card rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.
With premium cards becoming the norm these days, many people are getting more comfortable paying annual fees of over $400. The Business Platinum Card® from American Express stands out above even that, though, with a $695 annual fee (see rates and fees) — although its annual statement credits and benefits go above and beyond to mitigate that yearly cost.
Between its high annual fee and a handful of business-focused perks, this card certainly won’t be suitable for every small business — especially ones that don’t log major travel expenses or ones with primary spending areas more in line with the bonus categories offered by other business cards. Still, it has some valuable perks, making it a strong choice for many businesses.
This card has a recommended credit score of 670 and above. Let’s dive into the card details so you can decide if it’s a good fit for your business.
Related: How to apply for a business credit card
Amex Business Platinum pros and cons
| Pros | Cons |
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Amex Business Platinum welcome offer
New Amex Business Platinum applicants can earn 120,000 points after spending $15,000 in the first three months. Based on TPG’s valuations, the Membership Rewards points this card earns are worth 2 cents apiece. So, if you can manage the $15,000 spending requirement, you’ll earn points worth about $2,400 toward travel. This is the card’s standard welcome offer, but it still meets our criteria for when to apply.
While $15,000 in three months might not be hard for businesses with a lot of cash flow, if your enterprise is smaller, you could consider prepaying as many expenses as you can afford during your first three months to help earn your welcome offer.
On the other hand, if this type of spending is out of your league, another business card with a lower bonus threshold, a smaller annual fee and more targeted earning categories might be a better fit for you in the long run.
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Related: How to achieve the Amex Business Platinum’s spending requirement
Amex Business Platinum benefits
Amex’s bevy of statement credits, easily totaling over $1,500 in annual benefits, can help cardmembers potentially offset the initial shock of that high annual fee. Here’s a close look at all of them (enrollment is required for select benefits):
| Statement credit | Annual amount | How it works |
|---|---|---|
| Dell | Up to $400 | Statement credit on U.S. Dell purchases up to $200 semiannually (enrollment required) |
| Indeed | Up to $360 | Statement credit on Indeed hiring and recruiting products and services to post open positions and find talent, up to $90 per quarter (enrollment required) |
| Adobe | Up to $150 | Statement credit on select annual purchases, including Adobe Creative Cloud and Acrobat Pro DC (enrollment required) |
| Wireless telephone services | Up to $120 | Statement credits for purchases made directly from any U.S. wireless telephone provider, up to $10 per month (enrollment required) |
| Clear Plus | Up to $189 | Statement credit toward an annual Clear membership for expedited airport security (subject to auto-renewal) |
| Airline fee | Up to $200 | Annual airline fee credit of up to $200 on charges by the airline you select per calendar year |
| Global Entry or TSA PreCheck | Up to $100 | Statement credit for Global Entry ( up to $100) or TSA PreCheck (up to $85) every four years (4.5 years for PreCheck) |
It is important to note that the Amex Business Platinum will lose the Adobe, Dell and Indeed statement credits at the end of this year.
Alongside the plethora of statement credits you may (or may not) be able to use, the Amex Business Platinum shines through with its other travel perks.
Aside from access to Amex’s Centurion Lounges, your card will open the door to the extensive American Express Global Lounge Collection, which was crowned the best credit card perk at the 2021 and 2022 TPG Awards. It is comprised of more than 1,400 lounges worldwide, including Delta Sky Clubs that you can enter when you have an eligible same-day flight on that airline, Priority Pass lounge access (excluding restaurant locations), Escape Lounges and Lufthansa Lounges when you have a same-day flight on that airline.
However, it’s worth noting that you’ll be limited to 10 total Sky Club visits per year starting Feb. 1, 2025 — unless you spend $75,000 in a calendar year to unlock unlimited access.
Enrollment is required for select benefits.
As for benefits that come in handy once you reach your destination, this card allows you to register for complimentary Gold status with Hilton Honors and Gold Elite status with Marriott Bonvoy, which provide better earnings and benefits during stays with these two brands.
Cardmembers also enjoy complimentary elite car rental status with multiple programs, including Avis Preferred, Hertz Gold Plus Rewards and National Emerald Club. Enrollment is required for these benefits.
The Amex Business Platinum Card is also great for business purchases, as you might imagine. It features extended warranty protection* that prolongs eligible U.S. manufacturer warranties of five years or less by an additional year, saving business owners time and money if something happens to an item they buy.
Additionally, the card’s purchase protection covers accidental damage or theft for up to 90 days after purchase, up to $10,000 per covered purchase and $50,000 per cardmember account per calendar year, so it’s a great choice for expensive items.*
Aside from these two specific benefits, the card’s other notable perks include:
- Cellphone protection, for a maximum of $800 per claim with a limit of two approved claims per 12-month period. Coverage for a stolen or damaged eligible cellphone is subject to the terms, conditions, exclusions and limits of liability of this benefit.**
- Access to the Cruise Privileges Program and the International Airline Program.
- A 35% rebate when you use Pay with Points to cover a first- or business-class ticket on any airline or an economy ticket on one airline of your choice (up to 1 million points back per calendar year).
*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.
**Eligibility and benefit level varies by card. Terms, conditions and limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
Related: Is the Amex Business Platinum worth the annual fee?
Earning points on the Amex Business Platinum
Amex Business Platinum cardholders will earn 1.5 Membership Rewards points per dollar on up to $2 million in eligible purchases in the U.S. per calendar year in the following categories:
- Electronic goods retailers
- Software
- Cloud service providers
- U.S. construction materials and hardware supplies
- Shipping providers
- Purchases of $5,000 or more
Cardmembers earn 5 points per dollar on airfare and prepaid hotel purchases with American Express Travel (including Amex Fine Hotels + Resorts).
All other purchases earn 1 point per dollar.
Related: Everything you need to know about Amex Membership Rewards
Redeeming points on the Amex Business Platinum
We recommend transferring your Membership Rewards points to any of Amex’s hotel and airline partners for maximum value. You can also redeem your points for merchant gift cards or to cover charges on your bill. However, these options significantly devalue your rewards to 1 cent per point or less, so we don’t recommend using your points this way.
The easiest redemption option that still offers decent value is American Express Travel’s Pay with Points feature, which allows you to receive a 35% rebate when you use points toward first- and business-class flights on any airline, as well as economy-class flights on your selected airline. This boosts your redemption value for these purchases from 1 cent to 1.54 cents per point.
Just note that the 35% rebate is capped at 1 million points back per calendar year, and you must have the full number of points for the standard redemption in your account at the time of booking. You’ll then receive the rebate within one or two billing cycles.
Transferring points on the Amex Business Platinum
Again, you can unlock even more value from your earnings by transferring your Membership Rewards points to any of Amex’s 21 airline or hotel partners. Most transfers occur at a ratio of 1:1 and process instantly. Going this route may take a bit of sleuthing, but a little work can help increase the value of your points significantly above the TPG valuation.
You’ll also want to watch for Amex’s regular transfer bonuses, which can further increase the value of your points.
TPG credit cards writer Chris Nelson receives outstanding value frequently by utilizing Amex’s generous transfer bonuses with Avianca LifeMiles to redeem for lie-flat seats, such as United Polaris flights to Europe.
Related: The best ways to use Amex Membership Rewards points
Which cards compete with the Amex Business Platinum?
If you feel that your business might not be able to get the full value out of the Business Platinum Card, you might want to consider other options.
- If you want a lower annual fee but higher earning rates: The American Express® Business Gold Card offers similar redemption options to the Business Platinum but at a lower annual fee of $375 (see rates and fees). It earns 4 points per dollar on the two categories you spend the most on each month (on up to $150,000 in combined purchases for these two categories per calendar year, then 1 point per dollar after that). For more information, please read our full review of the Amex Business Gold.
- If you don’t want business-specific benefits: The Platinum Card® from American Express has perks less tailored to small businesses. You’ll still earn valuable Membership Rewards points, receive up to $1,500 in annual statement credits (as long as you can take advantage of them) and gain access to the same extensive network of airport lounges worldwide. For more information, please read our full review of the Amex Platinum.
- If you want to earn Chase Ultimate Rewards points: The Chase Ink Business Preferred Credit Card is a TPG favorite. It earns 3 points per dollar on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, cable and phone services, and advertising purchases made with social media sites and search engines. For more information, read our full review of the Ink Business Preferred.
For additional options, check out our full list of the best business credit cards.
Read more: Practicality vs. luxury: Chase Ink Business Preferred vs. Amex Business Platinum
Bottom line
The Amex Business Platinum Card is an excellent choice for business travelers with expenses in bonus categories and those that offer statement credits. While it might not be worth the money for all business owners, its travel perks are difficult, if not impossible, to beat. With a plethora of travel benefits, the Amex Business Platinum is a must-have card for those looking to maximize their travel.
Apply here: The Amex Business Platinum card with 120,000 Membership Rewards points after you spend $15,000 on eligible purchases in the first three months of card membership
For rates and fees of the Amex Business Platinum, click here.
For rates and fees of the Amex Business Gold, click here.
For rates and fees of the Amex Platinum, click here.
