6 Benefits of the Amex Business Platinum Card I’ve Used for the First Time This Year

The Business Platinum Card^® from American Express is widely regarded as the most benefit-laden business card in the industry. Cardmembers enjoy a wide range of attractive perks and benefits, including airport lounge access, hotel elite status, and a variety of statement credits. These features make it easy to see the value of the card, despite its high annual fee.

Being a cardmember myself, I have utilized numerous perks to maximize the value of my card. However, I’ve recently realized that I’ve missed out on significant value until this year.

This year, I took advantage of several of my Amex Business Platinum card’s lesser-known and underutilized benefits. Let’s analyze the benefits of the Amex Business Platinum card I used for the first time this year.

Card Overview

If you’ve been considering applying for the Amex Business Platinum card, here’s a quick overview of the card:

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The Business Platinum Card^® from American Express

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

This card is ideal for business travelers who enjoy luxury travel and are looking for a card loaded with benefits!

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The Business Platinum Card^® from American Express

This card is ideal for business travelers who enjoy luxury travel and are looking for a card loaded with benefits!

Welcome Offer

Earn 150,000 Membership Rewards^® points after you spend $20,000 in eligible purchases on the Card within the first 3 months of Card Membership.

150,000 points

UP's Bonus Valuation*:

$3,300

Annual Fee

$695

APR

18.74% - 27.74% Variable

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.

Good to Excellent (670-850)

Why We Like This Card

The Business Platinum Card^® from American Express is a premium travel rewards card tailored toward business owners who are frequent travelers with a high number of annual expenses.

When you factor in the large number of perks that the card offers like the best airport lounge access at over 1,400 lounges, along with tons of annual credits, it’s easy to see why this card can is a top option for frequent traveling business owners.

Pros & Cons

Pros

• 5x Membership Rewards points per $1 on flights and prepaid hotels at Amex Travel
• Access to over 1,400 worldwide airport lounges as part of the American Express Global Lounge Collection
• Get 50% more Membership Rewards points (1.5 points per $1) on eligible purchases in key business categories, as well as on purchases of $5,000 or more (cap applies)

Cons

• High annual fee of $695 (rates & fees)
• Airline fee credit does not cover airfare, only incidentals like checked bags

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Card Highlights

• Welcome Offer: Earn 150,000 Membership Rewards^® points after you spend $20,000 in eligible purchases on the Card within the first 3 months of Card Membership.
• 5X Membership Rewards^® points on flights and prepaid hotels on AmexTravel.com, and 1X points for each dollar you spend on eligible purchases.
• Earn 1.5X points (that’s an extra half point per dollar) on each eligible purchase at US construction material, hardware suppliers, electronic goods retailers, and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more, on up to $2 million per Card Account per calendar year. Purchases eligible for multiple additional point bonuses will only receive the highest eligible bonus.
• Unlock over $1,000 in statement credits on select purchases, including tech, recruiting and wireless in the first year of membership with the Business Platinum Card^®. Enrollment required. See how you can unlock over $1,000 annually in credits on select purchases with the Business Platinum Card^®, here.
• $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to the Card.
• $199 CLEAR^® Plus Credit: Use your card and get up to $199 in statement credits per calendar year on your CLEAR^® Plus Membership (subject to auto-renewal) when you use the Business Platinum Card^®.
• The American Express Global Lounge Collection^® can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market as of 03/2023.
• $695 Annual Fee.
• Terms Apply.

Financial Snapshot

• APR: 18.74% - 27.74% Variable
• Foreign Transaction Fees: None

Rewards Center

American Express Membership Rewards

Hot Tip: Check to see if you’re eligible for a welcome bonus offer of up to 250k points with the Amex Business Platinum card. The current public offer is 150,000 points. (This targeted offer was independently researched and may not be available to all applicants.)

1. Making an Amex Fine Hotels + Resorts Reservation

I seldom pay cash for hotel stays. My free nights are paid for with hotel points that I transfer from American Express Membership Rewards and Chase Ultimate Rewards.

However, there are instances where it’s more logical to forego using points and instead pay in cash for hotel accommodations. For instance, booking rooms via the Amex Fine Hotels + Resorts (FHR) program can make sense if you want to stay at a luxury property or a non-chain boutique hotel where you might not have elite status.

Fine Hotels + Resorts is available only to cardholders of The Platinum Card^® from American Express, the Amex Business Platinum card, or the Centurion^® Card from American Express.

When you book an FHR stay through Amex, you’ll receive all of the following valuable benefits:

• Room upgrade upon arrival, when available
• Daily breakfast for 2 people
• Noon check-in, when available
• Guaranteed 4 p.m. late checkout
• Complimentary Wi-Fi
• Unique property amenity, such as a spa or food and beverage credit valued at a minimum of $100

I decided to use the Amex FHR benefit from my Amex Business Platinum card and get a room at the JW Marriott Miami Turnberry Resort & Spa in Miami for my twin daughters’ birthday.

With the Amex FHR rate, we got breakfast for 2, a room that was more conveniently situated within the resort, a $100 on-site credit, and late checkout at 4 p.m. — and the room rate was actually cheaper than booking directly with Marriott.

Hot Tip:

Our guide comparing Amex’s The Hotel Collection and Fine Hotels + Resorts dives deep into each program and examines how they both could save you money.

2. Paying Taxes To Earn 1.5x Points

I pay quite a bit in taxes each year as a self-employed writer, and if I’m not working toward achieving minimum spending requirements to earn another card’s welcome bonus, I choose to charge a part of my tax bill to my Amex Business Platinum card.

On purchases of $5,000 or more, Amex Business Platinum cardmembers earn 1.5 points per dollar. Because my tax bill is usually much higher than $5,000, I max out my credit limit on The Blue Business^® Plus Credit Card, which earns me 2x Membership Rewards points on all purchases throughout the year (up to $50,000; 1x thereafter), and then put the remainder of my tax bill on the Amex Business Platinum card.

I always pay my card bills in full, which helps me accumulate a significant number of points without incurring interest charges. When using a credit card to pay taxes, a minimum fee of 1.85% will be charged on the purchase.

However, I value Amex Membership Rewards points at 2.2 cents per point and sometimes even higher when redeemed for travel, so paying the fee seems justified to me.

Charging one’s tax bill and paying a fee to do so isn’t for everyone, but the substantial travel rewards I earn make it worthwhile for me.

3. Booking an Exclusive Members-Only Dining Experience

Access to Amex’s network of Centurion Lounges is one of the most prized benefits for Amex Business Platinum cardholders.

These lounges are available for cardholders of the Amex Business Platinum card, the Amex Platinum card, or the Centurion card to enjoy a variety of amenities, such as regionally-inspired food, a premium bar, a and a dedicated family area.

But Centurion New York in the heart of Midtown Manhattan is thought to be the most exclusive lounge space for select Amex cardholders to go.

Gaining access to this uber-exclusive club is notoriously challenging, even for eligible cardmembers. As soon as this private space opened in March 2023, I knew I had to make a visit one day.

While the club is reserved only for those who have the Centurion card (also known as “the Black card”), fortunately, Amex Business Platinum cardholders can make reservations for lunch or dinner on the 55th floor. The menu is by Chef Daniel Boulud, the chef-owner of 2-Michelin-starred restaurant DANIEL, so you know you’re in for an amazing meal.

After many failed attempts through Resy and persistent calling, I was finally able to get a dinner reservation. Thanks to my Amex Business Platinum card, I was fortunate to be able to partake in the incredible culinary experience.

4. Monthly Wireless Credit

Every year, Amex Business Platinum cardmembers get up to $120 in statement credits for wireless telephone service purchases made directly from a wireless provider in the U.S. This comes in the form of $10 monthly credits that can be applied toward paying off a portion of your monthly cell phone bill.

I use my Amex Business Platinum card to make a $10 monthly contribution toward my T-Mobile account, which essentially saves me $120 a year on my cellphone bill.

Despite the fact that this benefit was launched during the start of the COVID-19 epidemic, I’ve regrettably just now gotten around to being conscientious about leveraging the $10 savings each month by manually paying off my mobile phone bill with this card.

5. Purchase Protection on an Ottoman

The Amex Business Platinum card not only offers business owners valuable rewards and robust travel benefits, but it also includes a purchase protection benefit that’s often overlooked.

If your item is accidentally damaged, stolen, or lost within 90 days of purchase, American Express will reimburse you for the full purchase price.

I bought an expensive ottoman for my home office earlier this year, and within a week, my toddler daughter had spit up all over it. While I made the mistake of buying a white ottoman in the first place, considering that I have 3 children, I wisely placed the purchase on my Amex Business Platinum card so that I would be protected if anything went wrong with my new piece of furniture.

I went ahead and filed a claim for purchase protection with Amex, and 2 weeks later I received an email stating that my claim was approved. Within a few days, Amex refunded me the cost of the ottoman, and I ultimately purchased a replacement.

6. U.S. Open Centurion Lounge Access

The U.S. Open is the most important tennis tournament in the U.S., and it’s usually recognized as one of the most enjoyable sporting events to witness in person, regardless of whether you’re a serious tennis fan or a casual spectator.

Having an Amex Platinum card or an Amex Business Platinum card grants you access to the Centurion Lounge at the U.S. Open, as well as other perks at this major tennis tournament. As the lounge is extremely popular among U.S. Open attendees, reservations are required and must be made through Resy.

As an Amex Platinum cardholder, I had previously visited the U.S. Open and enjoyed the Centurion Lounge on-site, but I had since closed my consumer card. Thankfully, I still have access to the coveted lounge thanks to my Amex Business Platinum card.

I was able to escape the oppressive summer heat of New York City while indulging in some delectable snacks and hand-crafted beverages.

Final Thoughts

The Amex Business Platinum card comes with a slew of perks, including access to thousands of airport lounges worldwide, a $200 airline incidental credit, and a generous welcome offer, in addition to several other annual statement credits.

I’ve held the Amex Business Platinum card for several years, but I have to admit that I’ve only recently started to fully use and explore all of the perks and benefits it offers. My goal is to extract as much value as possible from the card and enjoy its robust benefits for years to come.

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For the purchase protection benefit of the Amex Business Platinum card, purchase protection is an embedded benefit of your card membership and requires no enrollment. It can help protect covered purchases made on your eligible card when they’re accidentally damaged, stolen, or lost, for up to 90 days from the covered purchase date. The coverage is limited up to $10,000 per occurrence, up to $50,000 per card member account per calendar year. Coverage limits apply. Eligibility and benefit level varies by card. Terms, conditions, and limitations apply. Visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.