The Business Platinum Card from American Express Review


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Earning Rewards

The Business Platinum Card from American Express earns five points per dollar when cardholders book with American Express Travel. Purchases of at least $5,000 will earn 1.5 points per dollar, and all other purchases earn one point per dollar. Cardholders are capped at 1 million additional bonus points per calendar year.

Reward earnings can offset the card’s annual fee. Say you spend about $12,000 on travel each year and book it on American Express Travel: You can earn $600, which is enough to cover your annual fee.

Redeeming Rewards

Cardholders have several options to redeem rewards, but not all of them provide the same value. You get 1 cent per point when you redeem points for gift cards or flights using American Express Travel, the issuer’s travel portal. You’ll also get back 35% of your points when you book a flight on the portal (up to 500,000 bonus points per year).

Other choices offer less value. Your points will be redeemed at 0.7 cent if you opt for cash back or pay using points at checkout with select retailers. Points are worth 0.5 cent when you use them to shop in the American Express catalog.

If you transfer your points to a travel partner, you might get more value when you redeem them. Most American Express Membership Rewards travel partners transfer points at a 1-to-1 value, and some may redeem points at a higher rate. Here’s the value you might be able to get with some of those partners, according to U.S. News research:

Chase travel partner Average value of points or miles
Aeromexico Club Premier 1.18 cents
British Airways Executive Club 2.51 cents
Delta Air Lines SkyMiles 1.21 cents
Hawaiian Airlines HawaiianMiles 1.71 cents
JetBlue Airways TrueBlue 1.22 cents
Virgin Atlantic Flying Club  5.29 cents

Benefits

The Business Platinum Card from American Express provides up to a $200 airline fee credit, which covers expenses such as checked bags or in-flight food and drinks. Cardholders can access the American Express Global Lounge Collection, which allows entry to more than 1,200 airport lounges worldwide.

The card offers a credit for your Global Entry or TSA Precheck application fee every four years, which means faster airport security. You’ll get perks at Fine Hotels & Resorts and receive Marriott Bonvoy Gold Elite Status, plus Hilton Honors Gold Status, which includes breakfast and late checkout.

Other benefits include car rental loss and damage insurance, baggage insurance, and roadside assistance.

APR

With The Business Platinum Card from American Express, cardholders are allowed carry a balance with interest on eligible charges of $100 or more. The card does not offer a 0% introductory rate.

Annual Fee

You’ll pay a $595 annual fee for The Business Platinum Card from American Express, but the welcome offer is worth $750. Based on your spending habits and ability to use card benefits, you might be able to offset the annual fee. Compare the fee with your annual budget and other top business cards to make sure the card is the right fit.

Should You Get The Business Platinum Card from American Express?

  • Can get enough value from the card to cover the annual fee
  • Spend a lot on travel or business expenses
  • Want premium travel benefits
  • Don’t plan to carry a card balance

Questions About The Business Platinum Card from American Express

Q: Is The Business Platinum Card from American Express worth it?
A: This card isn’t worth the price tag for everyone, but if your business requires frequent travel, it could be useful. Do the math, and consider your typical spending to find out if you can earn enough rewards to make up for the annual fee. It’s also a good idea to weigh the value of cardholder benefits, particularly if you travel often and can take advantage of them.

Q: How do you qualify for The Business Platinum Card from American Express?
A: The Business Platinum Card from American Express is a business card, which means it’s only for business owners. You’ll need to provide your business information, including your federal tax ID, to apply. Excellent credit is recommended.

Q: Is The Business Platinum Card from American Express metal?
A: Yes, the card is really metal, but it will cost you: The annual fee is $595.

For rates and fees of the The Business Platinum Card from American Express, please click here

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