Is The Amex Business Platinum Card Really Worth It? [2020]

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For UP's rating and in-depth analysis, see our The Business Platinum Card® from American Express review.

There are so many business credit cards out there. How are you supposed to figure out which one is best for you? And once you’ve found a card with benefits that will work for you, how do you know if the annual fee will be worth it? There’s a lot business owners should know about points and miles, and we’re here to make it easy on you.

In this post, here’s everything you need to know about the Business Platinum Card® from American Express, the card’s benefits, and weigh those benefits against the annual fee.

Amex Business Platinum Welcome Bonus

Amex Business Platinum is packed with benefits but also comes with a hefty price tag. One of the things that can take the sting out of the annual fee is the generous welcome bonus.

Key Benefits of Amex Business Platinum Card

Let’s take a look at some of the key benefits offered by this card so you can see if it’s worth it for you.

American Express Membership Rewards

The Amex Business Platinum is a powerhouse at earning Membership Rewards points that makes it a great choice for business owners who travel a lot or who make large purchases.

Here are the ways you can earn Membership Rewards points on the Amex Business Platinum.

  • Earn 5x points on flights and prepaid hotels booked through American Express Travel.
  • Earn 2x points on eligible cruise bookings with American Express Travel.
  • Earn 1.5x points on purchases of $5,000 or more (capped at 1 million extra points per year).
  • Earn 1x points on all other purchases.
  • Earn a 35% points rebate when you use Membership Rewards points to pay for all or part of a flight with your selected qualifying airline, up to 500,000 bonus points per calendar year when booked through Amex Travel.

Hot Tip: Want ideas on how to redeem your Membership Rewards points? Explore our best ways to redeem you Membership Rewards points.

American Express Transfer Partners

When you use your Membership Rewards points in the Amex Travel Portal, you’ll get about 0.7 cents per point in value. However, you can usually get lots more value out of them by utilizing one of American Express’ transfer partners.

American Express Airline Transfer Partners

Amex Airline Transfer PartnerMin TransferTransfer Ratio
(Amex > Partner)
Transfer Time
AeroMexico1,0001:1.62-12 days
Air Canada1,0001:1Almost Instant
Alitalia1,0001:1Almost Instant
Aer Lingus1,0001:1Almost Instant
ANA1,0001:13 days
Avianca LifeMiles1,0001:1Almost instant
British Airways
1,0001:1Almost Instant
Cathay Pacific1,0001:1Up to 1 Week
Delta Air Lines1,0001:1Almost Instant
EL AL1,00050:1Almost Instant
Emirates1,0001:1Almost Instant
Etihad Airways1,0001:1Almost Instant
FlyingBlue AirFrance/KLM1,0001:1Almost Instant
Hawaiian1,0001:1Almost Instant
Iberia1,0001:11-3 days
JetBlue2501:0.8Almost Instant
Qantas5001:1Almost Instant
Singapore Airlines1,0001:11-2 days
Virgin Atlantic1,0001:11-2 days

American Express Hotel Transfer Partners:

Amex Hotel Transfer PartnerMin TransferTransfer Ratio
(Amex > Partner)
Transfer Time
Choice Privileges1,0001:1Almost Instant
Hilton Honors1,0001:2Almost Instant
Marriott Bonvoy1,0001:1Almost Instant

Premium Travel Benefits

Up to $200 Airline Fee Credit

Each calendar year, you’ll be able to receive up to $200 in statement credits for incidental fees charged by your selected airline such as checked bags and in-flight refreshments. This fee credit does not apply to airfare.

Hot Tip: This is a lucrative benefit that isn’t available with the American Express® Business Gold Card. Wondering how else the two cards differ? Check out our piece: The Amex Business Platinum vs The Amex Business Gold Card. 

Airport Lounge Access

Having access to an airport lounge can do wonders on a busy travel day. Whether you enjoy having a quiet workspace, complimentary food and drink, or even premium amenities like a shower room, you’ll love the lounges you’ll be able to access with your Amex Business Platinum.

The American Express Global Lounge collection offers over 1,200 airport lounges across 130 countries worldwide including Centurion Lounges, the International American Express Lounges, and Delta Sky Clubs (when flying Delta). You’ll also enjoy a complimentary Priority Pass Select membership.

Access to these lounges could cost hundreds of dollars if purchased separately, so this benefit is incredibly valuable.

TSA PreCheck or Global Entry Fee Credit

Enjoying expedited security is a nice perk to have when traveling on business. It’s even better when it doesn’t affect your bottom line.

You’ll receive a fee reimbursement for a TSA PreCheck or a Global Entry fee that’s charged to your Amex Business Platinum. Plus this benefit extends to additional cards on your account!

Global Entry Kiosks
If you are planning to apply for Global Entry, you might as well let your credit card reimburse you for the fee. Image Credit: U.S. Customs and Border Protection

Hotel Elite Status

Having hotel elite status can make frequent business trips (or even leisure vacations) much more comfortable. As an Amex Business Platinum cardholder, you’ll receive elite status at 2 major hotel chains:

  • Marriott Bonvoy Gold Elite Status — With Marriott Bonvoy Gold Elite status you’ll receive a 25% points bonus on your stays, a room upgrade (subject to availability), 2 p.m. late checkout, and a welcome gift of 250-500 Marriott Bonvoy points.
  • Hilton Honors Gold Status — With Hilton Honors Gold status you’ll enjoy 2 bottles of water per stay, late checkout, and free breakfast daily.

Fine Hotels & Resorts

Amex Business Platinum gives you access to the Amex Fine Hotels & Resorts program. When you book one of these select properties you’ll receive perks like:

  • Room upgrade upon arrival (when available)
  • Daily breakfast for 2
  • Guaranteed 4 p.m. late checkout
  • Noon check-in (when available)
  • Complimentary Wi-Fi
  • A unique amenity valued at $100 like a food and beverage credit

Baggage Insurance

You’ll love knowing you’re covered if your baggage is lost, damaged, or stolen. To be eligible, you need to pay for your entire fare using your Amex Business Platinum or American Express Membership Rewards points. Coverage is capped at $2,000 for checked baggage and a combined maximum of $3,000 for checked and carry-on baggage.

Business Benefits

$20 Monthly Wireless Telephone Service Credit

From now through the end of December 31, 2020, cardholders receive a $20 monthly credit towards wireless telephone service providers like Verizon, AT&T, and Sprint.

Up to $200 Dell Shopping Credit

Each year you’re a cardmember you’ll be eligible to receive up to $200 in statement credits for all of your U.S. purchases from Dell. You can get $100 in statement credits from January to June and another $100 in statement credits from July to December.

Update: American Express is offering cardholders an additional $100 in Dell statement credits between May and June, plus an additional $100 in credits from July to December — for a total of $400 for the year. 

The Amex Business Platinum comes with great perks for business owners like Dell statement credits and a complimentary 1-year membership to WeWork. Image Credit: WeWork

Bottom Line: If you can utilize the $400 Dell credit, up to $200 airline fee credit, and the $100 Global Entry credit, your annual fee is almost covered without taking into account any of the other benefits!

Car Rental Benefits

Car Rental Loss and Damage Insurance

When you pay for your entire rental with your Amex Business Platinum and decline the coverage offered by the car rental agency, you’ll be covered if your rental car is damaged or stolen. This coverage doesn’t cover damage to other vehicles or any injuries.

The Amex Business Platinum comes with secondary car rental loss and damage insurance. That means you’ll need to file a claim with any other insurance you may have first.

This applies to cars rented in most countries but excludes cars rented in Australia, Italy, and New Zealand.

This coverage is capped at $75,000 per rental agreement.

Premium Car Rental Privileges

With the Amex Business Platinum, you’ll get automatic elite status and special privileges with Avis, Hertz, and National.

  • Avis Preferred: You’ll get a one-class upgrade when available, special savings, and a free weekend rental certificate when you rent twice in 6 months.
  • Hertz Gold Plus Rewards: You’ll get a complimentary upgrade when you rent an intermediate through full-size car (if available).
  • National Emerald Club: With the Amex Business Platinum you’ll receive a complimentary upgrade to Emerald Club Executive status. That means you’ll be able to choose your own car from the Executive Aisle when picking up your rental.

Who Should Get Amex Business Platinum?

Amex Business Platinum might be a good choice for you if you:

  • Need to rent a co-working space
  • Often stay in Marriott or Hilton hotels
  • Want access to premium airport lounges
  • Are planning to apply for TSA PreCheck or Global Entry
  • Need to make a large purchase from Dell

Amex Business Platinum might NOT be the card for you if you:

  • Don’t travel much
  • Can’t pay off your bills each month
  • Have bad credit (take a look at some of these tips to improve your credit score first)
  • Don’t have large business expenses
  • Spend a lot on business categories that are included as bonus categories on other cards (like office supplies or shipping)

Hot Tip: Not sure if the business benefits of this card are right for you? Check out our detailed review: The Amex Business Platinum vs. the Platinum Card® from American Express.  

Final Thoughts

As you can see the Amex Business Platinum comes with lots of benefits that make it a worthy contender for a space in your wallet.

If you’re still not sure if the Amex Business Platinum is right for you, you may want to take a peek at some of the other business cards out there or compare it to the personal version, the Amex Platinum Card.

For rates and fees of the Business Platinum Card® from American Express, click here.

Frequently asked questions

Is it hard to qualify for an Amex Business Platinum?

Not everyone will qualify for Amex Business Platinum. Generally speaking, you’ll need to have excellent credit — think mid 700s and up. You also won’t be approved for the Amex Business Platinum if you already have 4 or more other American Express cards open. Your chances also go down if you’ve recently opened another Amex card.

What are the differences between the personal and Business Platinum Card from American Express?

While their names are similar there are lots of differences between Amex Platinum and Amex Business Platinum. They have different bonus categories and offer different perks. For an in-depth comparison, check out our head to head matchup: The Platinum Card from American Express vs. The Business Platinum Card from American Express.

Katie Seemann

About Katie Seemann

Katie is an Ohio native who caught the travel bug after spending a semester in college in Nottingham, England. In addition to exploring England, she visited Ireland, Scotland and the Netherlands during that time and loved every minute of it (everything except the hostel in Scotland – that’s an experience she doesn’t intend on repeating!) In 2015, Katie discovered the world of points and miles, and since then she’s earned countless points and has an embarrassingly large number of credit cards in her wallet (which she needs a spreadsheet to keep track of!)

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