The Business Platinum Card® from American Express is one of the most — if not the most — premium charge cards for businesses. It provides a slew of benefits for businesses, like lounge access, a WeWork subscription if you enroll by December 31, 2019, and a huge points bonus on Amex Travel purchases. With that, though, the card carries a hefty annual fee, which is definitely a large up-front investment.
Despite a hefty fee, the Amex Business Platinum card is still worth considering, especially for business owners that travel frequently. Here are all of the benefits of the card and the cash value of each benefit. This will allow you to see the value of the card compared to the annual fee.
All of the values here are based on realistic usage of the benefits for business owners that travel moderately and have significant business spending. By the end of the article, you’ll be able to use this information to make an informed decision on if the Amex Business Platinum card is right for your business
Table of Contents
- The Amex Business Platinum Card’s Travel and Points Benefits
- Access to Thousands of Airport Lounges Worldwide [$1,000+]
- 5x Points per Dollar Spent on Amex Travel Purchases [$100]
- 1.5 Points per Dollar on Purchases Over $5,000 [$50]
- 35% Rebate When Redeeming for Airfare with Pay With Points [$50]
- Save Money with the International Airline Program [Wild Card]
- $200 Airline Incidental Fee Credit [$200]
- 10 Gogo Inflight Internet Flight Passes [$100+] (benefit ends 1/1/20)
- Complimentary Hilton Honors and Marriott Bonvoy Status [$200+]
- American Express Fine Hotels and Resorts Access [$150+]
- Complimentary Rental Car Status and Benefits [$200+]
- Global Entry Application and Renewal Fee Reimbursement [$100]
- $200 Dell Statement Credit [$200]
- Complimentary ShopRunner Membership [$25+]
- 1 Year of WeWork Platinum Global Access [$2,700]
- A Huge Welcome Bonus [$1,100+]
- Amex Business Platinum Card Purchase Protection Benefits
- Final Thoughts
The Amex Business Platinum Card’s Travel and Points Benefits
Each of these perks makes your travel experience smoother, more luxurious, and in some cases, cheaper! Remember, though — the valuations you see below are based on moderate use, so you may get more or less value depending on how often you travel and how much you spend on your card.
Access to Thousands of Airport Lounges Worldwide [$1,000+]
One of the most valuable Amex Business Platinum card perks is that the card has access to thousands of airport lounges worldwide. This is due to American Express’ vast lounge network — named the American Express Global Lounge Network — having partnerships with different lounge networks worldwide as well as some of its own lounges at major hubs.
Amex Business Platinum Cardholders have access to the following airport lounges:
- Airspace Lounges
- The Centurion Lounge Network
- Delta SkyClub
- Escape Lounges
- The International American Express Lounges
- Lufthansa Lounges
- Plaza Premium Lounges
- Priority Pass Select
Do note that each of these lounges has different entry rules, though. Some will only allow entry when flying a specific airline, some allow guests, and others only allow the primary cardholder to enter the lounge. This affects how we value each lounge, so we’ll give you a breakdown of the 8 different lounge networks below and assign each their own value.
Airspace Lounges [$50]
Airspace is a small lounge network with 2 locations worldwide: Cleveland Hopkins International (CLE) and San Diego International (SAN). Each of these lounges provides complimentary beverages, snacks, and Wi-Fi.
There is food and premium beverages for purchase, too, and you’ll receive a voucher on the way in that can be used towards anything on the menu. The value of this voucher varies by location, though.
We value Airspace Lounge access at $50. You can bring up to 2 guests with you to the lounge, but with such a limited number of lounges, you’re not likely to actually use them unless you live in Cleveland or San Diego. Regardless, it’s a nice perk to have, so make sure to bring your Amex Business Platinum card next time you travel through CLE or SAN.
The Centurion Lounge Network [$250]
The Centurion Lounge Network is 1 of 2 of American Express’ in-house lounge networks. The Centurion Lounge is American Express’ premium lounge offering, with each lounge offering free chef-inspired meals, high-end local cocktails, and carefully designed seating areas with posh furniture and aesthetics.
Even cooler, each of these lounges takes a cue from its locale. For example, if you’re at the LaGuardia Centurion Lounge, you’ll find local New York craft beer at the bar and food curated by a local chef. Likewise, at the Dallas-Fort Worth Centurion Lounge, you can often find BBQ at the buffet. Since each Centurion Lounge has such a unique feel, you’ll undoubtedly want to visit them all.
Make sure to have your Amex Business Platinum card, government-issued ID, and valid boarding pass in-hand when entering a Centurion Lounge as you’ll need them to enter. Additionally, Amex Business Platinum cardholders can bring up to 2 guests into the lounge with them per visit, with additional guests costing $50 per day.
We value Centurion Lounge access at $250 for anyone that travels with moderate frequency. Many U.S. hubs already have Centurion Lounges, and more are in the process of being built worldwide, so there’s no doubt that you can use them at least a few times per year. This perk is worth even more if you have a Centurion Lounge at your home airport or somewhere you travel to and from frequently.
Delta Sky Club [$200]
Amex Business Platinum cardholders also get access to all Delta Sky Clubs, but only when traveling on a Delta Air Lines flight. There are over 50 Delta Sky Clubs worldwide, with most of them being located at Delta hubs and other major airports in North America. You, unfortunately, can’t bring a guest with you into the Delta Sky Club for free — you’ll have to pay $29 per guest.
All Delta Sky Clubs have complimentary food, alcoholic and non-alcoholic beverages, and Wi-Fi. Some of the newer Sky Clubs even have rooftop access and premium beverages for sale (think Champagne, etc.). So if you’re on a layover between Delta flights, or just need a place to relax before a big trip, the Delta Sky Club is a nice place to hang out.
We value Delta Sky Club access at $200. Despite there being a Sky Club at almost every major U.S. airport, you can only access it alone and when flying on a Delta ticket. However, those who often fly Delta anyway will get much more than $250 in value, especially when you consider that a Delta Sky Club subscription is well over $500 when purchased outright.
Escape Lounges [$50]
Escape Lounges have been slowly popping up around the world, with the U.S. being one of the lounge network’s main focus markets.
Nowadays, you can find Escape Lounges at midsized U.S. airports like Cincinnati/Northern Kentucky International (CVG), Oakland International (OAK), and Phoenix Sky Harbor International (PHX), amongst others. American Express and Escape Lounges have partnered to offer Amex Business Platinum cardholders access to all U.S. lounges — all you need is your boarding pass and Amex Business Platinum card to enter.
Even better, you can bring up to 2 guests with you into the Escape Lounge, making it a good alternative for Delta Sky Clubs when traveling with a friend or family member. However, with such a limited number of lounges, we value the Escape Lounge benefit at $50 per year.
While there are Escape Lounges in the U.K., Amex Business Platinum cardholders can only access U.S. lounges. We hope this changes in the future as Escape Lounges has locations at Manchester (MAN), London-Stansted (STN), and East Midlands (EMA) in the U.K.
The International American Express Lounges [$50]
American Express has another network of in-house lounges dubbed International American Express Lounges. These aren’t quite as posh as the Centurion Lounges discussed earlier, including more basic food, drink, and amenities. However, the lounges still look nice and give you a great place to relax or get work done before a long flight.
American Express Lounges worldwide include:
- 1 Centurion Lounge in Argentina
- 2 American Express Lounge in Australia
- 2 American Express Lounges in India
- 6 Centurion Clubs in Mexico
You can access these lounges during open hours with a valid boarding pass, government-issued ID, and your Amex Business Platinum. According to American Express, guest access varies by lounge location, so make sure to get in touch with the lounge beforehand if you’re traveling with friends and family.
With such a limited number of locations, we value this perk at $50. However, you’ll get much more benefit if you travel to and from airports with one of these lounges on a frequent basis.
Lufthansa Lounges [$50]
Amex Business Platinum cardholders can access Lufthansa business class lounges in Terminal 2 in Munich Airport (MUC) and Terminal 1 in Frankfurt Airport (FRA). If the member is flying business class, he or she can access the more premium Lufthansa Senator Lounges.
Unfortunately, you can only access these lounges if you’re flying on a Lufthansa group flight. This includes flights on Austrian Airlines, Lufthansa, and SWISS. Because of this — and the fact that only “select locations” allow guest entry — we value Lufthansa lounge access at a modest $50 per year.
Further, Lufthansa lounge access is a temporary benefit, so be sure to check the current status of the promotion before using the lounge. As of publishing this article, the promotion is set to end on October 31, 2019. However, it’s been extended a number of times in the past, so there’s a good chance you’ll be able to enter after this date.
Plaza Premium Lounges [$100]
Plaza Premium is a Hong Kong-based lounge network with locations in various airports around Asia, Europe, the Middle East, and North America. These lounges are known for having solid food and beverage options, sleek interior design, and fast internet, making them a dependable place to stop before a flight abroad.
All Amex Business Platinum cardholders can access Plaza Premium Lounges with their card and a valid boarding pass. Even better, you can bring up to 1 guest with you, letting you share the benefit with a lucky friend, family member, or co-worker.
We value this benefit at $100.While there are no locations in the U.S., those who travel abroad frequently will be able to make good use of the Canadian, Hong Kong, and various European lounges at least once a year. In many cases, these are better than standard airport lounges, too, so make sure to stop by if you stumble upon a Plaza Premium lounge during your travels.
Priority Pass Select [$250]
Priority Pass Select is the world’s largest lounge network. Priority Pass has thousands of airport lounges worldwide, spanning every inhabited continent. Further, there are Priority Pass lounges at major U.S. airports like Hartsfield-Jackson Atlanta International (ATL) and John F. Kennedy International (JFK), giving economy passengers and those without airline status access to a pre-departure lounge.
All Amex Business Platinum cardholders are eligible for a complimentary Priority Pass Select membership. You can request this on the Benefits page of your American Express account. When you do this, Priority Pass will mail you a physical Priority Pass membership card that you can use at any lounge in its network. Note that you must have your physical Priority Pass card or a digital card in the mobile app to access the lounge.
Note that American Express Priority Pass members are no longer allowed access to Priority Pass restaurants or other airport experiences, so you can only access traditional airport lounges with your included membership.
We value the Priority Pass Select benefit at $250 for most travelers. You’ll find Priority Pass lounges at most airports when traveling abroad, meaning that you’ll almost always have a place to work, relax, or eat before a long flight.
5x Points per Dollar Spent on Amex Travel Purchases [$100]
Another awesome Amex Business Platinum perk is earning 5 Membership Rewards points per dollar spent on flights and hotels booked through Amex Travel. You can book nearly every commercial flight and hotel through this portal, so depending on how often you travel, you can rack up some serious points.
There are a few downsides to booking with Amex Travel, though. Hotels booked through Amex Travel aren’t usually eligible for earning hotel points or using elite benefits. This isn’t a big deal for independent hotels but can make a difference if you have hotel status. Further, booking through an online travel agent (like Amex Travel) can make flight changes harder than if you booked directly through an airline.
We value this benefit at $100, but the value will vary depending on how much you spend on travel. Just make sure to compare the downsides to the elevated earning rate before booking through Amex Travel.
1.5 Points per Dollar on Purchases Over $5,000 [$50]
Further, all purchases over $5,000 earn 1.5 points per dollar spent, meaning a $5,000 purchase would earn 7,500 Membership Rewards points. If you make large purchases frequently, this can help you rack up points quickly.
However, note that there are other Amex cards — namely The Blue Business℠ Plus Credit Card from American Express — that earn more points on all purchases no matter the cost. In the case of the Amex Blue Business Plus card, you earn 2x points on all purchases up to $50,000 per year (then 1x).
With that in mind, we value this benefit at $50. While the elevated earning ratio for large purchases is nice to have, we recommend using another business credit card for most large purchases. In the end, a card that earns bonus points in specific categories or more points on all purchases will give you a better return on your business expenses.
Hot Tip: Interested in how this card stacks up against the standard Platinum Card® from American Express? This review pits these two cards head to head: The Amex Business Platinum Card vs. The Amex Platinum Card.
35% Rebate When Redeeming for Airfare with Pay With Points [$50]
All American Express cardholders can redeem Membership Rewards points at 1 cent per point towards paid flights through Amex Travel. We generally don’t recommend this, however, as you can get more value by redeeming through American Express’ various transfer partners. However, Amex Business Platinum cardholders get a 35% rebate when using miles to book flights on Amex Travel.
This means that booking a $1,000 flight from New York (JFK) to London (LHR) would cost 100,000 Membership Rewards points. However, you’d get 35,000 Membership Rewards points back as a rebate. Unfortunately, you must have the full amount of points required in your Membership Rewards account in order to redeem for this award.
We value this benefit at $50.Even with the 35% rebate, it’s still a poor use of points if you take into account our valuation of over 1 cent per point for Membership Rewards. This benefit can still come in handy if you need to book a flight with no award space, though.
Save Money with the International Airline Program [Wild Card]
Amex Business Platinum cardholders can access the American Express International Airline Program. This program offers Amex Business Platinum (and its personal counterpart) cardmembers discounted airfare on international flights booked in premium economy, business, and first class through Amex Travel on select airlines.
|Participating Airlines in the American Express International Airline Program|
|Air China||Brussels Airlines||Iberia||Qatar Airways|
|Air France||Cathay Pacific||Japan Airlines||Singapore Airlines|
|Air New Zealand||China Airlines||KLM||South African Airways|
|Alitalia||Delta Air Lines||LATAM||SWISS|
The discount you’ll receive depends on the flight you’d like to book. To illustrate this, we ran a few sample searches in different classes of service.
The first search was for a round-trip flight from New York (JFK) to Tokyo (NRT) in business class. We found a Newark (EWR) to Toyko (NRT) via Detroit (DTW) ticket on Delta for $3,578 with the International Airline Program discount. The original cost of this ticket through Amex Travel was $4,371, meaning that that you save just over 18% by using this benefit.
We also searched for a premium economy ticket from New York (JFK) to Madrid (MAD). We found a non-stop option on Iberia that priced at $857 through the International Airline program, bringing it down from $1,291 without the discount. This is a massive 44% discount, making the premium economy ticket nearly as cheap as flying standard economy on the route.
It’s hard for us to give this benefit a solid valuation based on how variable it is. After all, if you rarely book paid premium airfare, you will get significantly less value than someone that books it frequently. However, it’s clear that — based on the sample discounts presented here — there’s a ton of value to be had in this program, especially if you’re often booking premium international airfare for employees or contractors.
$200 Airline Incidental Fee Credit [$200]
The Amex Business Platinum card — like The Platinum Card® from American Express — includes an up to $200 airline incidental credit. This can be used to cover things like baggage fees, seat assignment costs, and lounge passes for an airline of your choice.
Just charge your eligible purchase to your Amex Business Platinum card to use this credit. It will automatically be refunded to your account in the form of a statement credit within 4 weeks. However, you may need to call American Express if it takes longer. Just make sure to activate the benefit on your card’s Benefits page on the American Express dashboard before you make a qualifying charge.
We value this benefit at its face value of $200. While it isn’t as flexible as the Chase Sapphire Reserve® card’s $300 travel credit, frequent travelers should have no problem using this credit every year.
Hot Tip: This benefit isn’t available with The American Express® Business Gold Card. Wondering how else these two cards differ? Check out our piece: The Amex Business Platinum vs. The Amex Business Gold Card.
10 Gogo Inflight Internet Flight Passes [$100+] (benefit ends 1/1/20)
All Amex Business Platinum cardholders receive 10 Gogo inflight internet passes annually. These can be used on any Gogo-enabled flight, giving you free internet access for the duration of the flight. Some airlines that have Gogo internet include Air Canada, Alaska Airlines, and Delta Air Lines. Note that Gogo is only available on flights within North America.
Gogo flight passes usually cost between $10 and $25 per flight, so the value you’ll get from this benefit depends on the length of your flight. For the purpose of this article, we’ll value it on the low-end of the spectrum ($100) as moderate travelers may not use all of the included passes.
You can claim your Amex Business Platinum passes on Gogo’s website.
Complimentary Hilton Honors and Marriott Bonvoy Status [$200+]
Amex Business Platinum cardholders are entitled to complimentary Hilton Honors Gold and Marriott Bonvoy Gold Elite status with their card membership. Both of these complimentary mid-tier elite statuses give cardholders nice benefits like complimentary space-available upgrades, late checkout, and bonus point earning.
Here’s a look at what benefits both statuses include:
Hilton Honors Gold Benefits:
- 80% points bonus
- Room upgrades (subject to availability)
- Continental breakfast at most full-service properties
Marriott Bonvoy Gold Elite Benefits:
- 25% points bonus
- Welcome gift at check-in (points, etc.)
- Room upgrades (subject to availability)
- Complimentary in-room internet, even when not booking directly with Marriott
- Priority 2 p.m. late checkout
These benefits can be super valuable to road warriors, especially when you score an upgrade and can take advantage of free breakfast at Hilton properties. Further, it lets you switch between Hilton and Marriott hotels without worrying about losing status benefits or not re-qualifying for the next year.
We value this Amex Business Platinum benefit at $200. If you stay at Hilton or Marriott hotels more than a couple of times per year though, you’ll easily find more than $200 in value from this benefit.
American Express Fine Hotels and Resorts Access [$150+]
Speaking of hotel benefits, you can use your Amex Business Platinum card to book hotels through American Express’ Fine Hotels and Resorts program.
This is an offshoot of Amex Travel for Amex Business Platinum cardholders that includes an array of exclusive benefits. In most cases, these benefits are either Amex-exclusive or similar to what you’d get with top-tier hotel elite status.
When you book through this portal, you’ll earn 5 points per dollar on your purchase and be entitled to the following benefits:
- Complimentary Wi-Fi
- Daily breakfast for 2 people
- Guaranteed 4 p.m. late checkout
- Noon check-in (subject to availability)
- Room upgrade upon arrival (subject to availability)
- A unique property amenity valued at $100
Just note that when you book through this portal, you won’t earn traditional hotel points on your stay. Further, you likely won’t be able to use your hotel elite status benefits, so make sure to compare those benefits with what’s included with your Fine Hotels and Resorts booking.
All in all, we value this benefit at $150 per year, but it can be much higher if you frequently book hotel stays through the portal. These benefits are particularly beneficial when staying at independent hotels that aren’t tied to a traditional hotel status program.
Hot Tip: Have you heard about Amex’s Fine Hotels and Resorts but also the Hotel Collection? Explore our comparison of the Amex Fine Hotels and Resorts vs. the Hotel Collections to see the differences and make sure you’re getting the most value out of both.
Complimentary Rental Car Status and Benefits [$200+]
Your Amex Business Platinum includes car rental privileges at 3 major car rental companies: Avis, Hertz, and National. Some of these companies will give you full-blown rental car status and others will give you elite-like benefits and a hefty discount when you pay for your rental with your Amex Business Platinum card.
Here’s a look at all of the Amex Business Platinum card’s rental car benefits:
National Emerald Club Executive Status
- Executive Area Access — Choose any car class (full-size and above) and only pay the mid-size rate.
- Guaranteed Upgrades — Guaranteed upgrades on mid-sized vehicle rentals in the U.S. and Canada.
- No Second Driver Fees — Add a second driver for no additional charge.
- Upgrades in Europe — Free 1-class upgrades at participating National locations in the U.K., Ireland, France, Spain, and Germany.
- Special Pricing on Premier Selection Cars — Get preferred pricing on upgrades to the Premier Selection cars at the rental lot.
- Faster Free Rentals — a free rental credit after 6 car rentals.
Avis Preferred American Express Benefits
- Complimentary 1-Car Class Upgrade — Use coupon code #UUNA007 when making a reservation and you’ll get a 1-class upgrade when available. Unfortunately, this is not a guaranteed benefit.
- 25% Off Base Rates — Book directly with Avis and use Avis Worldwide Discount (AWD) code #756900 for the discount.
Hertz Gold Plus Rewards Benefits
- 20% Off Standard Rates — You must use code #633306 to take advantage of this discount and other benefits.
- 25% off Premier Rentals When a Saturday Night is Included — Available for U.S., Canada, and European Hertz Premier rentals.
- 4-Hour Grace No-Charge Period — You can return a rental up to 4 hours late with no penalty in most countries; select countries only offer a 2 hour grace period.
- 1-Car Class Upgrade — This benefit is based on availability, but unfortunately, it’s not guaranteed.
Our favorite set of benefits is the complimentary National Emerald Club Executive Status. This benefit essentially gives you free rein to choose whatever rental car you’d like from National. So if you need a minivan or pickup truck for a special event, you’ll only pay the mid-sized price. And if you fancy a sports car, you can rent 1 so long as it’s available in the Emerald Aisle.
The other benefits can be helpful as well. 20-25% off at Avis and Hertz can give you incredible savings, especially if you need to rent for an extended period of time. And depending on how often you rent cars for your business, these discounts can have a real impact on your business’ bottom line.
Because of this, we value these perks at $200 for moderate users. However — like most benefits we’ve outlined — it can quickly become worth much more with heavy use.
Global Entry Application and Renewal Fee Reimbursement [$100]
Your Amex Business Platinum card will reimburse your Global Entry or TSA PreCheck application and renewal fees. The card grants you statement credit for Global Entry once every 4 years, and TSA PreCheck once every 4.5 years. If you already have either of these services, you can use your credit to cover a coworker, family member, or friend’s application fee, too — just make sure to use your Amex Business Platinum card when paying the application or renewal fee.
Hot Tip: We highly recommend using this benefit to cover Global Entry, not TSA PreCheck. When approved for Global Entry, you’ll automatically be eligible for TSA PreCheck when you add your known traveler number to your ticket.
Again, we’ll value this benefit at its face value of $100. Just note that you’ll only receive this benefit once per 4 or 4.5 years.
$200 Dell Statement Credit [$200]
You’ll receive 2 $100 Dell statement credits per year. The first credit is valid January through June and the other is valid July through December. Once you activate the benefit on your card’s Benefits page, you can shop on Dell.com, pay with your Amex Business Platinum, and you’ll be automatically credited in the form of a statement credit.
Nowadays, Dell sells more than computers and monitors on its website, too. It has a huge selection of electronics from various brands, including products like Xbox, headphones, and printers. So whether you’re buying for business or pleasure, you should have no problem making the most of this credit twice a year.
With that in mind, we also value this benefit at face value of $200 annually. Just make sure to activate it on your card’s Benefits page.
Complimentary ShopRunner Membership [$25+]
ShopRunner is a subscription service that gives members access to free 2-day shipping from hundreds of online merchants, including Saks Fifth Avenue, Soma, and Neiman Marcus. A subscription usually costs $79 per year, but Amex Business Platinum cardholders get an ongoing subscription free of charge with their card membership.
You can enroll in this benefit from the Benefits page on your American Express dashboard. We value this benefit at $25 as you’re unlikely to use it often, but it can be helpful for the times when you’re shopping at a participating merchant.
1 Year of WeWork Platinum Global Access [$2,700]
American Express recently added WeWork access as an Amex Business Platinum benefit. All Amex Business Platinum primary cardholders can enroll in 1 year of unlimited, worldwide access to WeWork coworking spaces.
Amex Business Platinum cardholders can access all 720+ WeWork locations between the hours of 9 a.m. and 6 p.m. from Monday to Friday. Unfortunately, after hours and weekend coworking is not included.
Just note that you can only enroll in this benefit once, and it must be before December 31, 2019. Once you enroll on WeWork’s website, you’ll be able to access WeWork for 1 year. After this period, you’ll need to resubscribe as a standard “hot desk” member.
We value this benefit at $2,700 as a standard WeWork hot desk subscription is $220 per month. However, only remote workers, freelancers, and other people that frequently work from home or remotely will get the full value of this benefit. After all, if you already have an office, there’s little reason for you to visit a WeWork.
A Huge Welcome Bonus [$1,100+]
The Amex Business Platinum card is notorious for having a high welcome bonus for new cardholders. In short, American Express offers a lump sum that’s awarded to new cardholders when they meet a certain spend threshold within a certain amount of time after opening an Amex Business Platinum card.
This welcome bonus fluctuates frequently, but we’ve seen it go as high as 100,000 Membership Rewards points in the past.
See the current Amex Business Platinum card welcome bonus below:
|The Business Platinum Card® from American Express|
Since the welcome bonus often fluctuates between 50,000 and 100,000 Membership Rewards points, we’ll value the welcome bonus at $1,100 for the purpose of this article. This is based on a 50,000 Membership Rewards welcome bonus and our October 2019 valuation of 2.2 cents per point.
For the most up-to-date valuation, check our our monthly points and miles valuations.
Amex Business Platinum Card Purchase Protection Benefits
In addition to travel and points benefits, the Amex Business Platinum card comes with a number of purchase and travel protection benefits. These benefits give you peace of mind when buying new tools and products for work, oftentimes protecting them against damage and loss.
Here’s a look at all of the Amex Business Platinum’s included purchase protection benefits:
Purchase Protection [$100+]
All purchases you make with your Amex Business Platinum card come with free purchase protection.
If your item is accidentally damaged, stolen, or lost within 90 days of purchase, American Express will reimburse you for the full purchase price. So if you buy an employee a $1,500 new laptop and he or she spills a cup of coffee on it, American Express will pay for you to buy a new laptop.
Just note that all claims must be filed within 30 days of the product being lost or damaged. Further, there is a maximum of $10,000 in reimbursements per occurrence, and you can claim up to $50,000 in reimbursements per cardmember account per calendar year.
One last thing: this coverage is secondary to any personal insurance policies that may apply to your purchased items. You will be reimbursed by American Express for the amount remaining between what’s covered by your primary insurance and the actual purchase price of the product.
However, if you don’t have insurance on the product in question, American Express will reimburse the full amount.
We value this benefit modestly at $100 because you likely won’t use it often. However, when you do use it, it can be worth up to $10,000 per use, which can have a real impact on your business’ bottom line.
Return Protection [$100+]
All purchases made with your Amex Business Platinum card are eligible for return within 90 days of purchase. If the merchant won’t accept your return within this 90-day window, American Express will cover up to $300 per item, up to $1,000 in reimbursements per calendar year.
We value this benefit at $100 if used at least once, but it can be worth up to $1,000 if you make returns often.
Extended Warranty [$100+]
Even better, all purchases made with your Amex Business Platinum are eligible for a complimentary extended warranty. So long as the product purchased with your card has a standard warranty of 5 years or less, American Express will add a year of coverage on top of the product’s standard warranty.
There are some limits on this benefit though. This warranty will cover up to $10,000 per item with a maximum of $50,000 in claims annually. This can be super helpful for big-ticket business purchases like computers, servers, and tools, possibly saving you thousands of dollars from a claim alone.
For the purpose of this article, we’ll value the extended warranty benefit at $100. This is because you’re not super likely to have to use this benefit often, but it can save you a lot of money when you do. Just make sure to keep your card open and in good standing so you can use it when the time comes.
Car Rental Loss and Damage Insurance [$50]
Further, rental cars booked with your Amex Business Platinum receive free secondary car rental loss and damage insurance. If you incur damage to a rental car, American Express will pay out whatever your primary insurance won’t pay. Just note that it will not pay out for damage to other vehicles, property damage, or injuries to you or a passenger.
For coverage to apply, you must decline the collision damage waiver when you rent your car. There are certain location and vehicle-type exclusions that can be found in the coverage terms, too. You can find these exclusions on American Express’ website or by calling the number on the back of your credit card.
Because this coverage is secondary, we value this benefit modestly at $50. However, it could come in handy if your primary insurance has low coverage on rental cars. Consider getting a card with primary damage and loss insurance if you want primary as compared to secondary coverage.
Checked And Carry-On Baggage Insurance [$100+]
When you book a plane ticket with your Amex Business Platinum card, your baggage is insured against loss for the cardmember, the cardmember’s spouse, and the cardholder’s children under 23 years old.
The coverage limits are as follows:
- Up to $3,000 in reimbursements for your baggage while you are traveling to and from your carrier’s terminal.
- Up to $3,000 in reimbursements for the cost of carry-on baggage.
- Up to $2,000 in reimbursements for the cost of checked baggage.
- Up to $1,000 in reimbursements for high-risk items such as jewelry, precious metals, electronics, etc.
If your loss includes both carry-on and checked baggage, a maximum of $3,000 total will be paid. Because you’re unlikely to use this benefit often, we’ll value it at $100 for the purpose of this article, but the peace of mind can be invaluable.
Travel Accident Insurance [$100+]
Finally, travel booked with your Amex Business Platinum card is covered by American Express’ Travel Accident Insurance plan. This benefit pays out up to $500,000 if a covered person is killed or dismembered while riding as a passenger on, boarding, exiting from, or being struck by a common carrier.
Coverage is also available for passengers who suffer exposure or disappearance due to a common carrier’s vessel disappearing, wrecking, or sinking.
Just note that this coverage only applies if the entire fare for the trip was paid with your Amex Business Platinum card, and a loss of life occurs within 100 days after the accident or injury.
We value this benefit at $100 as you’re unlikely to ever have to use it. However, it can provide serious peace of mind when booking adventures and other types of risky travel.
The Amex Business Platinum’s various benefits are worth $5,525 — and that’s not factoring in the hefty welcome bonus.
With this in mind, the card’s various benefits significantly outweigh the card’s hefty annual fee, making it a great deal for business owners and employees that travel frequently.
Further, businesses that make frequent large purchases can take advantage of the card’s purchase protections and elevated points-earning rate on purchases that are $5,000 or larger.
If you decide to apply for an Amex Business Platinum card, make sure to activate your airline incidental benefit, hotel statuses, Dell credit, and Priority Pass benefits on the card’s Benefits page when your card arrives. Further, you’ll need to call to activate your complimentary National car rental status, so don’t delay!