Why It Makes Sense To Apply for an Amex Business Platinum Card by the End of 2024

Updated: November 14, 2024, 8:30am CST

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Earn Double the Statement Credits
Score a Targeted Welcome Bonus Offer
Final Thoughts

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We’re approaching the final weeks of the year, and right now could prove to be a lucrative time to apply for a rewards card. In particular, The Business Platinum Card^® from American Express provides a substantial welcome bonus offer that, after meeting the minimum spending requirements, can give your points balance a boost.

As one of Amex’s premier cards, it’s loaded with numerous benefits and statement credits, though several require prior enrollment.

Some of the Amex Business Platinum card’s benefits are structured in a way that allows you to double-dip on perks, getting you twice the amount of value during your first year of card membership. Let’s go over the reasons you may want to apply before the end of 2024.

ELEVATED OFFER

Terms Apply / Rates & Fees

The Business Platinum Card^® from American Express

U.P. Rating

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 OfferEarn 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

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

Earn Double the Statement Credits

The Amex Business Platinum card is most advantageous for business owners looking for premium travel benefits. Though it charges a $695 annual fee (rates & fees), the combined value of the welcome offer, potential rewards earnings and ongoing benefits can far outweigh the cost.

Upon opening the account, most benefits become immediately accessible. These perks are independent of the welcome bonus offer points, which require meeting minimum spending requirements.

Furthermore, a few of the card’s statement credits are issued annually based on the calendar year rather than your membership year. If there’s ever been an ideal time to apply for the Amex Business Platinum card, it’s now. By applying, you can use some credits before the end of 2024, and they’ll reset on January 1, 2025, for the new calendar year.

2 annual-based statement credits offer wide appeal for potential applicants:

Airline Incidental Fee Credit: Up to $200 annually
Dell Credit: Up to $400 annually — up to $200 can be used from January to June, and up to $200 can be used from July to December

If you were to make use of the above statement credits by the end of the year, you can unlock upwards of $400 in value from the benefits. Then, at the beginning of 2025, these credits reset to give you another up to $400 in value.

Bottom Line:

The Amex Business Platinum card also comes with statement credits to Adobe and Indeed that are doled out annually, though these are more difficult to use than the airline incidental fees and Dell. On the other hand, the wireless phone services statement credit offers up to $120 in value, but it is doled out up to $10 per month.

1. Airline Incidental Fee Credit

Every calendar year, Amex Business Platinum cardholders can earn up to $200 in reimbursements for eligible charges on an airline of your choice. You’ll have to select the airline on your Amex account, which includes Alaska Airlines, American Airlines, Delta Air Lines, JetBlue, Spirit Airlines, Southwest Airlines, and United Airlines.

American Airlines A321T first class seat looking back — Award taxes and fees count toward the airline incidental fee credit! Image Credit: James Larounis

Note that this benefit is specifically designed for “incidental fees,” so merely purchasing flights with your designated airline likely wouldn’t count. Airport lounge day passes, checked baggage fees, and even domestic award ticket fees (which usually cost $5.60 per one-way flight) will all trigger this airline incidental fee credit.

No matter how you use this benefit, frequent fliers encounter pesky fees from airlines all the time, even if you’re an elite status holder. With this benefit, you can receive up to $200 in reimbursements, potentially doubling your savings by taking advantage at the end of 2024 and again in early 2025.

Hot Tip:

There are also unofficial ways to trigger this airline incidental fee credit, according to reports from cardholders. Airfare below the $99 mark (or in conjunction with an e-credit) on carriers like Delta, Southwest, and JetBlue can sometimes trigger the credit, but your mileage may vary.

2. Dell Credit

After enrolling in the benefit online, you can earn up to $400 in annual statement credits for U.S. purchases with Dell. The first credit, up to $200, applies from January through June, while the second credit is available from July through December.

Whether you need to upgrade your workspace with a new monitor or want to purchase new travel headphones, Dell’s website has a lot to offer. Even if you can’t make use of this benefit for yourself, buying a product on Dell for up to $200 before the end of 2024 would make for a great present for the holidays.

Score a Targeted Welcome Bonus Offer

Double-dipping on 2 of these annual statement credits is just the tip of the iceberg with the Amex Business Platinum card. Other perks include elite status with Marriott Bonvoy and Hilton Honors upon enrollment, airport lounge access (upon enrollment), and generous rewards on business and travel purchases. Furthermore, the current welcome offer is:

ELEVATED OFFER: Earn 150,000 points after spending $20,000 in eligible purchases within the first 3 months.

However, American Express has recently raised the stakes for targeted welcome offers after meeting minimum spending requirements. (These targeted offers are independently researched and may not be available to all applicants.) As you can see, the targeted welcome bonus offers can vary greatly:

The best welcome offer we’ve seen — 250,000 bonus points — is worth approximately $5,500 for travel based on our points and miles valuations. If you do stumble across this incredible (but rare) opportunity, read up on all the great ways to redeem Amex Membership Rewards points for maximum value.

Final Thoughts

The Amex Business Platinum card offers significant value, especially with 2 particular credits that can be maximized by applying toward the end of the calendar year. If you come across a targeted welcome bonus offer, the timing to apply becomes even more lucrative.

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