Why I Value the No Preset Spending Limit Perk on the Amex Business Platinum Card

The Business Platinum Card^® from American Express stands out as one of the most, if not the most, premium cards available for business owners. That said, the card comes with an annual fee of $695 (rates & fees), which means it requires an upfront investment.

However, the Amex Business Platinum card boasts a distinctive feature (among its other extensive benefits) that sets it apart from the competition: no preset spending limit*. This feature is the main reason I plan to keep it in my wallet for many years to come.

Here’s why the Amex Business Platinum card’s no preset spending limit feature stands out as my top benefit.

*No Preset Spending Limit means your spending limit is flexible. Unlike a traditional card with a set limit, the amount you can spend adapts based on factors such as your purchase, payment, and credit history

1. Essential During Tax Season

Many of us are familiar with the impressive travel benefits of the Amex Business Platinum card, such as up to $200 airline incidental fee credit, complimentary hotel and rental car elite status, and access to a vast lounge network, among other perks that may require enrollment. Though sometimes I find that some of these perks overlap with other cards I have, or I don’t want to feel pressured to make the most out of every credit.

However, when tax season arrives annually, the Amex Business Platinum card reminds me why I keep it year after year, as there is no other card that is consistently better at paying taxes due to the lack of a preset spending limit.

Last April, I filed my taxes and received a huge tax bill. Before paying it, I decided it would be wise to apply for a new card and earn a welcome bonus offer. I would be making this significant transaction anyway, so I might as well get something in return.

I applied for the Capital One Venture X Business Card*×Information collected independently. Not reviewed by Capital One. because, at that time, the Capital One Venture X Business card was offering a massive 300k-point welcome bonus after meeting the minimum spend requirements.

I tried to pay taxes using my new card, but unfortunately, the transaction failed. I made several attempts, but I kept running into an error message on the third-party payment processors’ websites. I reached out to the number on the back of my Capital One Venture X Business card and chatted with an agent. They mentioned that since Capital One isn’t aware of my spending power and what I can manage to pay off just yet, they couldn’t approve the transaction.

This created a challenge for me since the main reason I applied for a new card was to earn a big chunk of travel rewards on my tax bill. Instead of worrying about this further, I completed the payment using my Amex Business Platinum card and the transaction went through smoothly.

I was also able to earn 1.5x Membership Rewards points for every $1 spent on my tax bill, since this card provides a higher rate on purchases of $5,000 or more (up to $2 million in purchases each calendar year).

2. Recurring Life Expenses

Besides being an excellent travel companion, the Amex Business Platinum card is tailored to business owners who frequently make large purchases and seek spending power.

As a dad with a small business, a mortgage, car payments, school expenses, and various other bills, I can make larger purchases on my Amex Business Platinum card without the concern of being held back by a fixed credit limit, making it simpler to handle business expenses or cover unexpected life costs. This really makes me feel at peace, especially when things get hectic or during emergencies.

Just last month, I bought a pre-owned vehicle and had a positive experience negotiating with the dealer to allow me to put a significant part of the car purchase on my Amex Business Platinum card.

It gave me peace of mind to know that my payment would go through smoothly with my Amex Business Platinum card without needing to call Amex for pre-authorization on a large upcoming purchase, unlike my experiences with cards from other issuers.

Since the Amex Business Platinum card requires cardmembers to pay their balance in full to avoid interest charges, I always settle my balance right after making any large purchases. This approach allows me to manage those common life expenses while also earning Membership Rewards points.

3. Earn Thousands of Points

ELEVATED OFFER

Terms Apply / Rates & Fees

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!

Learn More(at Amex's secure site)

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

In simple terms, a higher spending limit means more opportunities to earn more rewards. This is even more true when you can relax without worrying about a set spending credit limit.

With a card like the Amex Business Platinum card, I can earn an infinite number of Membership Rewards points because the earning potential is exponential with no credit limit.

Furthermore, as I mentioned before, I can earn 1.5x points per $1 on purchases of $5,000 or more anywhere, with a maximum of $2 million in purchases every calendar year. While the earning rate on such purchases is limited, the number of points I can earn from non-bonus category spending is limitless.

And, while I also have The Blue Business^® Plus Credit Card from American Express, it earns 2x points on every purchase up to $50,000 per year (then it’s 1x). Therefore, the Amex Business Platinum card is truly the only card in my wallet that I have unlimited rewards-earning potential.

Final Thoughts

The Amex Business Platinum card comes packed with wonderful perks for travelers and business owners, plus a hefty welcome bonus offer that can be worth thousands of dollars. Although I appreciate all these qualities, the main reason I hold onto the card each year is that I really enjoy having no preset spending limit.

The opportunity to make purchases of any amount with little to no limits, as well as the potential to earn a substantial amount of points each year, are why I value this card so highly.