I Manage My Business Finances With 3 Amex Accounts — Here’s My Setup

As a freelance writer and travel consultant, I’m my own boss. This might sound glamorous on paper — and sometimes it is — but self-employment means you have to do your job and run the backend of your business. This includes things like accounting, expense management, and everything else a W2 employee takes for granted at work.

Because of this, I make it a point to keep my business and personal transactions separate. This makes it easier to track expenses and business income, which makes my life simpler at tax time.

To help with this, I use 3 key American Express products to run the financial side of my business: The Business Platinum Card^® from American Express, The Blue Business^® Plus Credit Card from American Express, and the American Express^® Business Checking account.

Here’s how they work together seamlessly.

1. Amex Business Platinum Card

The Amex Business Platinum card is among the most popular premium business cards. It’s packed with benefits (some require prior enrollment), including business-friendly statement credits, extensive airport lounge access, and other travel perks.

As someone who travels at least once a month for work or pleasure, I can take advantage of these benefits when I’m on the road, making the large $695 annual fee (rates & fees) worthwhile.

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 ins and outs 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!

Apply Now(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 Offer Valuation*:

Up to $3,300

Annual Fee

$695

APR

18.49% - 29.24% 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

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, prepaid hotels, and short-term rentals and prepaid flight and hotel packages booked through Amex Travel
• Access to over 1,400 worldwide airport lounges as part of the American Express Global Lounge Collection (as of 10/2024).
• 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 (on up to $2 million per calendar year)

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.
• 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 10/2024.
• Unlock over $2,000 in statement credits with business and travel benefits annually* on the Business Platinum Card. Terms apply. Learn more. *After meeting qualifying spend thresholds
• New! Enroll and get up to $150 in statement credits on U.S purchases directly with Dell Technologies on the Business Platinum Card and an additional $1,000 statement credit after you spend $5,000 or more on that same Card per calendar year.
• New! Enroll and get a $250 statement credit after you spend $600 or more on U.S. purchases directly with Adobe per calendar year on the Business Platinum Card.
• Fly like a pro with a $200 Airline Fee Credit. Select one qualifying airline to receive up to $200 back per year on baggage fees and other incidentals.
• Make the Business Platinum Card^® work even harder for you. Hilton For Business members get up to $200 back per calendar year when you make an eligible purchase at Hilton properties across the globe. Benefit enrollment required.
• 5X points on flights and prepaid hotels booked on AmexTravel.com
• 1.5X points (that’s an extra half point per dollar) on purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on each eligible purchase of $5,000 or more, up to $2 million of these purchases per calendar year. Purchases eligible for multiple additional point bonuses will only receive the highest eligible bonus.
• 1X points on other eligible purchases
• Use the Business Platinum Card^® and get up to $209 back per calendar year on your CLEAR^® Plus Membership (subject to auto-renewal).
• $695 Annual Fee.
• Terms Apply.

Financial Snapshot

• APR: 18.49% - 29.24% Variable
• Foreign Transaction Fees: None

Rewards Center

American Express Membership Rewards

For example, I’m based in New York City and regularly fly out of both New York (LGA) and New York (JFK). Both airports have American Express Centurion Lounges and Delta Sky Clubs, which I can access with the Amex Business Platinum card. This benefit has saved me thousands of dollars compared to buying food and drink at the airport.

The Amex Business Platinum card comes with unlimited visits to the Centurion Lounges and 10 annual visits per year to Delta Sky Clubs when flying with Delta on the same day. However, you can score guest access and unlimited Sky Club access by spending $75,000 on eligible purchases in a year.

That said, I don’t spend much on the card these days. The card earns American Express Membership Rewards points, with a handful of bonus spending categories:

• 5x points on flights and prepaid hotels booked with AmexTravel.com
• 1.5x points on U.S. purchases in these categories (up to $2 million per year):
  • Construction materials and hardware suppliers
  • Shipping providers
  • Electronics retailers, software retailers, and cloud providers
  • Any single purchase of $5,000 or more 
• 1x points on all other eligible purchases  

In terms of earnings, the Amex Business Platinum card usually falls short compared to the Amex Blue Business Plus card.

2. Amex Blue Business Plus Card

The second American Express card that helps power my business is the Amex Blue Business Plus card. In many ways, it’s the polar opposite of the Amex Business Platinum card.

The Amex Blue Business Plus card has virtually no travel benefits and a $0 annual fee (rates & fees) — but it’s a great card for business spending.

You’ll earn 2x points on all eligible purchases, up to $50,000 per year. After this, the rate drops to 1x points. This can be anything from notebooks at the office supply store to my monthly Airtable subscription. The beauty is that I don’t have to think about it — I can charge a purchase to the card and know I’ll earn double the Membership Rewards points.

Terms Apply / Rates & Fees

The Blue Business^® Plus Credit Card from American Express

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs 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.

Earn Membership Rewards for your business spending the easy way: get 2x points for the first $50,000 in purchases per year.

Apply Now(at Amex's secure site)

The Blue Business^® Plus Credit Card from American Express

Earn Membership Rewards for your business spending the easy way: get 2x points for the first $50,000 in purchases per year.

Welcome Offer

Earn 15,000 Membership Rewards^® points after you spend $3,000 in eligible purchases on the Card within your first 3 months of Card Membership.

15,000 points

UP's Offer Valuation*:

Up to $330

Annual Fee

No annual fee

APR

0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 17.49% - 27.49%.

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

Why We Like This Card

As a business owner, getting a credit card that maximizes each dollar you spend does not have to be complicated or expensive. Especially when you opt for The Blue Business^® Plus Credit Card from American Express.

With the Amex Blue Business Plus card, you’ll earn 2x Membership Rewards points on everyday business purchases throughout the year (up to $50,000; 1x thereafter) and receive purchase protections and no-additional-charge employee cards all for no annual fee (see rates and fees).

The simple and straightforward earning structure makes it a great fit for those looking to earn flexible rewards, without having to fixate on which purchases earn the most points.

Let’s take look at all that the Amex Blue Business Plus card has to offer.

Pros & Cons

Pros

• 2x Membership Rewards points per $1 on everyday business purchases (up to $50,000; 1x thereafter)
• Purchase protection and extended warranty protection
• No annual fee and employee cards at no additional cost

Cons

• No unique bonus categories and 2x earnings are capped at $50,000 in annual spend
• No elite travel benefits like lounge access or elite status

Read Full Review

Card Highlights

• Earn 15,000 Membership Rewards^® points after you spend $3,000 in eligible purchases on the Card within your first 3 months of Card Membership.
• 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 17.49% - 27.49%, based on your creditworthiness and other factors at account opening. APR will not exceed 29.99%
• Earn 2X points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter. Terms and limitations apply.
• You’ve got the power to spend beyond your credit limit* with Expanded Buying Power. *The amount you can spend above your credit limit is flexible, so it adapts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors. Just remember, the amount you can spend with Expanded Buying Power is not unlimited.
• No Annual Fee
• Terms Apply.

Financial Snapshot

• APR: 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 17.49% - 27.49%.
• Foreign Transaction Fees: 2.7% of each transaction after conversion to US dollars.

Rewards Center

American Express Membership Rewards

I put most of my business expenses on this card to keep things simple while maximizing my earnings. However, avoid charging international purchases to this card since it charges a hefty 2.7% foreign transaction fee.

3. Amex Business Checking Account

When I was in the market for a business checking account, I compared dozens of options. In the end, I landed on the American Express^® Business Checking account. Here are the perks I scored when I applied:

• No monthly fee
• Earns 1.30% APY on balances up to $500,000
• Seamlessly integrates with Quickbooks
• Doesn’t charge for incoming wire transfers

Put simply, it does everything I need a business checking account to do.

The account includes a free debit card that earns 1 Membership Rewards point per $2 spent on most purchases. It’s nice to have in case you have to pay for a purchase that charges fees for using a credit card.

Speaking of rewards, you can combine the Membership Rewards points earned from your other Membership Rewards-earning cards. Alternatively, you can cash out points at 1 cent per point if you have this checking account and an Amex Business Platinum card.

How These Amex Accounts Work Together

Each of these 3 American Express products has a specific (and very different) use in my financial stack.

The Amex Business Platinum card is reserved for travel benefits (enrollment may be required) like airport lounge access, complimentary hotel and rental car elite status, and the 35% Pay With Points rebate for select flights booked through AmexTravel.com. I also use the card to book flights for work trips through AmexTravel.com and earn 5 points per dollar.

Meanwhile, the Amex Blue Business Plus card is my workhorse for business spending. This card covers all my software subscriptions, equipment, and other business expenses. The only exceptions are hotels, flights booked directly, and dining, which go on other business cards that earn bonus points on these purchases.

Meanwhile, the Amex Business Checking account is my accounts receivable for client payments. This keeps my business and personal finances separate, which keeps me (and my accountant) sane during tax season.

Final Thoughts

These 2 business cards and 1 business checking account from Amex are the backbone of my business’s finances. They span everything from travel benefits to rewards, earning, and managing finances.

If you’re also self-employed, use this as inspiration if you’re looking for a new financial stack for your business. You don’t need to open the same cards, but you can use my general format of a travel benefits card, an earner card, and a business checking account, and swap in the cards and bank accounts that work best for your needs.