Is the Amex Business Platinum Worth It?
The Business Platinum Card® from American Express is a premium travel rewards cards tailored towards business owners who are frequent travelers with a high number of annual expenses.
With a steep annual fee of $595, you may be asking yourself, “Can a card really be worth paying that?” But when you factoring in the travel rewards and the large number of perks and benefits you receive for being a cardholder, it’s easy to see why this card can be a fantastic option for business owners.
Applying For the Amex Business Platinum and Credit Score Requirements
You can click here to apply directly on Amex’s website. To maximize your chances of qualifying / being approved for the Amex Business Platinum card, we recommend having a credit score of 720+.
In addition to a credit score of 720+, you’ll want to meet other important requirements which include a) reporting all eligible income on your application form and b) being prepared to either wait a few weeks for a final decision from Amex (or having to call their reconsideration line.)
- 5x Membership Rewards points per $1 on flights and prepaid hotels at Amex Travel
- Earn 5x points on shipping, wireless, advertising, gas, and office supplies through June 30, 2021, for cardholders prior to November 1, 2020, and for the first 3 months of card membership for new cardholders
- Earn 2x points on eligible cruise bookings with American Express Travel
- Up to $200 annual Airline Fee Credit
- Get up to $200 in statement credits annually by getting up to $100 semi-annually for U.S. purchases with Dell (terms apply)
- 35% Airline Bonus when using Pay With Points
- Access to the American Express Global Lounge Collection that includes:
- Airspace Lounges
- Centurion Lounges
- Delta Sky Clubs (when flying Delta the same day)
- Escape Lounges
- International American Express Lounges
- Plaza Premium Lounges
- Priority Pass lounges (Priority Pass memberships from U.S.-issued American Express cards no longer include restaurants (“non-lounge airport experiences”))
- Global Entry/TSA PreCheck application fee credit
- No foreign transaction fees
- Hilton Honors and Marriott Bonvoy Gold status
- Get 50% more Membership Reward points (1.5 points per $1) on eligible purchases of $5,000 or more
- Access to Amex’s Fine Hotels & Resorts program
- Travel Protection
- Purchase Protection
- $595 annual fee
- Airline fee credit does not cover airfare, only incidentals like checked bags
Amex Business Platinum Card — Snapshot
- Welcome Bonus & Info (Partner Content)
- Earn 85,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Platinum Card plus earn 5x points on eligible purchases in 5 select business categories, up to 80,000 bonus points per category, all within the first 3 months of Card Membership.† Terms Apply.
- Get 50% more Membership Rewards® points. That's an extra half point per dollar, on each eligible purchase of $5,000 or more. You can get up to 1 million additional points per year.
- 35% Airline Bonus: Use Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline, and you can get 35% of the points back, up to 500,000 bonus points per calendar year when you book on amextravel.com.
- Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com.
- Enroll to get up to $200 in statement credits annually by getting up to $100 semi-annually for U.S. purchases with Dell. Terms apply.
- Pay Over Time Option: A flexible payment option to help manage cash flow on purchases of $100 or more.
- Terms Apply.
- See Rates & Fees
- Card Categories:
- Rewards CenterAmerican Express Membership Rewards
- Customer Service Number1-800-519-6736
- Login Link
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The Ideal Cardholder
The Amex Business Platinum card is made for small business owners who travel frequently enough to take advantage of the luxury travel perks that come with the card. Prior to February 2019, the annual fee for the Business Platinum was $450 but was increased to $595 thereafter. However, even though that is a steep annual fee — the card comes with perks like airport lounge access, hotel elite status, a $200 airline incidental credit, a 35% rebate with Amex Pay With Points, and 5x points per $1 on all your airfare purchases.
If your business has turned you into a road-warrior, you’ll be hard-pressed to find a business card that comes with better travel-related perks than the Amex Business Platinum card.
$200 Annual 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.
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 card.
The American Express Global Lounge collection offers over 1,300 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 card. Plus this benefit extends to additional cards on your account!
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 to 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.
$200 Annual 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.
Amex 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
Trip Delay Insurance
When you purchase a round-trip ticket with your card, and the flight is delayed by more than 6 hours, you’re covered for up to $500 in reasonable expenses like meals, lodging, and personal use items.
Trip Cancellation and Interruption Insurance
Flights purchased with your card that are canceled or interrupted due to a covered reason, like inclement weather or accidental injury, are covered up to $10,000 per trip and $20,000 per year.
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 card 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.
Car Rental Insurance
When you pay for your entire rental with your Amex Business Platinum card 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 card 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.
Rental Car Elite Status
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 1-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: You’ll receive a complimentary upgrade to Emerald Club Executive status and can choose your own car from the Executive Aisle when picking up your rental.
When you purchase an item with your Amex Business Platinum card, that purchase is covered for up to 90 days from the purchase date, up to $10,000 per item and $50,000 per year, in the event of theft, loss, or damage.
Extended Warranty Protection
Any items purchased with your Amex Business Platinum card that have a manufacturer’s warranty of 5 years or less can be extended up to 1 additional year.
Great Card if
- You travel often enough to take advantage of the many travel benefits provided to cardholders
- You want a card with luxury perks like hotel elite status and airport lounge access
- You want a card with purchase protection
- You want a card that earns transferable rewards
Don't Get if
- You cannot afford the $595 annual fee
- You prefer a cash-back card
- You don’t travel often
Amex Business Platinum Card — Fees
- Annual Fee
- Foreign Transaction FeesNone
- Interest Rates
- Pay Over Time Feature: 14.24% to 22.24% variable
- Late fees
- Penalty APR: 29.24% variable
- $39 or 2.99% of any past due Pay in Full amount, whichever is greater.
- Additional Info
How To Earn More Amex Points
This is a fantastic perk, as any card that offers a 5x category for airfare can be hugely beneficial for frequent travelers.
So, naturally, if you hold this card you will want to make it your go-to-card for all of your airfare purchases to take advantage of that big return of 5x per $1.
A major benefit of being an American Express cardholder is having access to its monthly Amex Offers. Each month, dozens of offers from a wide variety of merchants give you the opportunity to earn additional Membership Rewards points or cash-back just for attaching the offer to your card.
Hot Tip: Cardholders prior to November 1, 2020, can activate Amex Offers bonuses to earn 5x points on shipping, wireless, advertising, gas, and office supplies (through June 30, 2021). New cardholders can take advantage of the bonus earnings for 3 months.
Amex Offers couldn’t be simpler to use. Each month you just need to scroll to the bottom of your card’s homepage to find all of the new offers. Then simply click to add your desired offers to your card, then use your Amex Business Platinum card to make the purchase.
Purchases Over $5,000
Your Amex Business Platinum card will allow you to earn a 50% bonus in points earned for every purchase amounting to $5,000 or more, up to 1 million extra points per year. This makes your earnings on these large purchases 1.5x per $1 spent instead of the standard 1x.
So if your business frequently makes purchases of $5,000 or more, this is an excellent way for you to rack up even more Membership Rewards points.
If you’re a business owner, it’s likely you know some other business owners who might find the Amex Business Platinum card beneficial, too. Luckily, when you refer your friend to apply for the card, you will receive a point bonus for doing so.
Each account holder is provided with a unique referral link that you can send to friends, family, or colleagues. Then, when your friend applies through your link and is approved, you’ll get a bonus and they get an awesome card. Win-win!
Hot Tip: American Express allows you to receive a bonus for referring friends even if they don’t apply for the same card that you hold. After sending your referral, your friend will have the option to click through and see each card available that has the referral option attached. If a different card ends up being a better fit for them, you will still get your bonus for referring their business to American Express.
Adding Additional Membership Rewards Cards
Adding other Membership Rewards cards with different bonus categories that meet your needs is a great way to push your earning potential even further.
Consider the American Express® Business Gold Card that earns 4x points per $1 spent on 2 categories where your business spent the most from the previous billing cycle. You’ll earn 4x up to the first $150,000 in combine spend; after that, earn 1x.
- Airfare (purchased directly with airlines)
- Advertising select media (online, TV, radio)
- Computer hardware/software
- Gas stations
- Shipping purchases
Seeing as you would already be earning 5x on airfare with your Amex Business Platinum card, you could use the Amex Business Gold card to earn 4x on 2 other categories, allowing you to earn big where you’re already spending the majority of your expenses.
How To Use Amex Points for Max Value
There is a reason that American Express Membership Rewards points are considered some of the most valuable points you can acquire — their ability to be redeemed with transfer partners.
Through transfer partners, you can receive huge value for your Membership Rewards points by redeeming for first and business class flights that would others cost several thousands of dollars.
Hot Tip: Many people feel that trying to make sense of transfer partners and award charts is just too complicated and not worthy of your time. But we’ve got you covered! Check out our guide to Amex transfer partners and how to use them.
You’ll also have the option to redeem your points through Amex Travel with a 35% rebate when you opt to pay with points from your Amex Business Platinum card.
This may seem like a fantastic option, and it certainly can be, but there are a few things you’ll want to keep in mind.
Your 35% rebate with Pay With Points from Amex is good for all flight options with 1 carrier of your choosing — this is the same carrier that you’ll be limited to using your $200 incidental credit with.
You can still earn the 35% rebate with other carriers booked through Amex Travel, but only on business and first class tickets — and the 35% rebate is capped at 500,000 points per calendar year.
Due to this, you’d likely be better off just using transfer partners, unless you find an exceptionally great deal on a business or first class fare.
You’re also able to use your points to cover purchases you’ve made with your card via a statement credit.
However, you should really think twice before doing so as your points can only be redeemed this way at 0.6 cents per point. This is much lower than most other redemption options you have available to you.
American Express has partnered with dozens of retailers to give you the option to redeem your points for gift cards with said stores.
While this may seem convenient, when you select this option you’ll receive just 0.7 to 1 cent per point in value depending on the retailer you’ve chosen — which is not great value out of your hard-earned Membership Rewards points.
Shop With Points
If you have your Amex Business Platinum card linked with accounts like Amazon or Apple, you’ll have the option to use your Membership Rewards points at checkout instead of charging the item to your card.
Keep in mind if you decide to do this you’ll be receiving 1 cent per point in value or less, so this is not the optimal use of your points.
Amex Airline Transfer Partners
|The Business Platinum Card® from American Express - Right now, there's a new welcome bonus of |
See how we get $4,000+ in value per year by leveraging many of the benefits & perks, including access to 1,300+ airport lounges worldwide. For rates & fees of the Business Platinum, click here.
|American Express® Business Gold Card - one of our favorite Amex business cards because we earn 4x points across the top 2 select categories that we spend the most money in each month, such as Facebook or Google ads. The 4x points applies to the first $150,000 in combined purchases from these 2 categories each calendar year. After that, you earn 1x. Terms Apply. |
The current welcome bonus is 70,000 Membership Rewards points after spending $10,000 on eligible purchases within the first 3 months of Card Membership. You can also earn up to $300 in statement credits on eligible U.S. advertising and U.S. shipping purchases. Terms and cap apply. For rates and fees of the Business Gold Card, click here.
|The Blue Business® Plus Credit Card from American Express - A super simple, no annual fee card that earns you 2x points on everyday business purchase, up to $50,000 annually. After that, then 1x. That makes for an easy 100,000 points per year. For rates and fees of the Blue Business Plus, click here.|
Amex Hotel Transfer Partners
|Amex Hotel Transfer Partner||Min Transfer||Transfer Ratio|
(Amex > Partner)
|Choice Privileges||1,000||1:1||Almost Instant|
|Hilton Honors||1,000||1:2||Almost Instant|
|Marriott Bonvoy||1,000||1:1||Almost Instant|
Alternatives to the Amex Business Platinum Card
Similar to the Ink Business Cash® Credit Card, the Amex Blue Business Cash card offers 2% cash-back on all eligible purchases on up to $50,000 per calendar year, then 1%.
Cash-back earned is automatically credited to your statement. Cardholders also receive 0% intro APR on purchases and balance transfers for 12 months, then a variable rate, 15.49%, 18.49%, or 21.49%, based on your creditworthiness and other factors as determined at the time of account opening.
This card is a great choice for those looking for a more well-rounded option.
While it doesn’t feature any of the luxury perks that come with the Amex Business Platinum card, it has a fantastic earn rate of 3x points per $1 on up to $150,000 in combined purchases on travel, shipping, ad purchases made with social media sites or search engines, and internet, cable, and phones services.
Given that the annual fee is just $95, it makes for a compelling option for those who just want a strong point earning card without any extras.
We’ve compared the Amex Business Platinum card to a couple of other popular cards:
Frequently asked questions
Is the Amex Business Platinum card worth it?
Truthfully, the answer is — it depends. At Upgraded Points, we definitely believe the card is worth it given the large number of benefits that come with it. $595 is certainly a large annual fee and can be hard to stomach.
However, when you factor in your $200 airline incidental credit, access to over 1,300 airport lounges, Gold status with Hilton Honors and the Marriott Bonvoy program, and much more, you’re coming out way ahead if you’re able to utilize those benefits often.
Does the Amex Business Platinum card have an annual fee?
The annual fee on the Amex Business Platinum card is $595. It’s important to consider whether all of the perks and benefits offered with the card will give you more than $595 in value. For most cardholders, the answer to that is unequivocally yes.
Do the Membership Rewards points earned from the Amex Business Platinum card ever expire?
Your Membership Rewards points will never expire as long as your account with American Express remains open.
How do you qualify for the Amex Business Platinum card?
If you’re a business owner, even just as a sole-proprietor or freelancer, you’re eligible to apply for a business card. Whether or not you will be approved depends on your credit worthiness which is determined by your credit score as well as other factors like your income.
There is no guaranteed way to know for certain whether or not you’ll be approved. But any business owners with a great credit score will be strong applicants.
Does the Amex Business Platinum card have a credit limit?
You will still have a spending limit on the card — it just isn’t pre-set in advance. American Express will still limit your spending month-to-month based on your spending habits and will begin declining charges if they believe your balance is becoming higher than you can afford to pay.
What are the differences between the personal and business Platinum Cards from American Express?
While their names are similar, there are lots of differences between The Platinum Card® from American Express and the Amex Business Platinum card. They have different bonus categories and offer different perks. For an in-depth comparison, check out our head to head matchup: The Amex Business Platinum Card vs. the Amex Platinum Card.