Why You Don’t Have To Use Every Amex Business Platinum Credit To Find Lasting Value

The Business Platinum Card^® from American Express comes with a huge list of benefits. But let’s be real: They aren’t useful for everyone.

When you’re evaluating whether or not to apply for a card, just looking at the list of benefits and credits can be overwhelming. But there’s no need to beat yourself over the head over it, because you don’t have to maximize every benefit to make a card, specifically the Amex Business Platinum card, worth it.

In this post, I’ll show you how I evaluate the benefits of the Amex Business Platinum card and why it’s OK not to maximize every single perk.

Overview of the Amex Business Platinum Card

The benefits of the Amex Business Platinum card are plentiful. This card earns 5 points per $1 spent on flights and hotels through AmexTravel.com and 1.5 points per $1 on purchases in select business categories (electronic goods retailers, software and cloud system providers, U.S. shipping services, and U.S. construction material and hardware suppliers) and on purchases of $5,000 or more everywhere else, up to $2 million in purchases per calendar year.

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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

Cardholders also enjoy the following benefits, but keep in mind that some of them might require enrollment:

Wireless Statement Credit

Get up to $120 back each year — up to $10 per month — with the wireless statement credit by charging your cell phone bill to the Amex Business Platinum card.

Airline Incidental Fee Credit

Get up to $200 per year in statement credits to cover various airline fees, including checked baggage fees and lounge day passes. You must select 1 airline of choice before using the airline incidental fee credit.

Clear Plus Credit

Receive up to $199 back per calendar year when you pay for your CLEAR Plus membership with your card.

Airport Lounge Access

Get access to airport lounges including Centurion Lounges, Escape Lounges, Delta Sky Clubs (when flying same-day with Delta), Priority Pass lounges (upon enrollment), and more.

Dell Credit

Get up to $400 in statement credits ($200 from January to June and $200 from July to December) when you make purchases at Dell. (This Dell credit is scheduled to end on June 30, 2025, and we don’t know yet if it will be replaced or what will be replacing it.)

TSA PreCheck or Global Entry Fee Credit

Get up to $120 back as a statement credit after paying the application fee of TSA PreCheck or Global Entry with your card.

Indeed Credit

Get up to $360 back (up to $90 per quarter) after purchasing products or services with Indeed.

Adobe Credit

Get up to $150 back annually on purchases made with the card for prepaid Adobe subscriptions.

35% Rebate on Flights Booked Through AmexTravel.com

Cardholders get a 35% rebate when using Amex Membership Rewards points to book flights on their selected airline or business and first class flights on any airline through AmexTravel.com.

Hotel and Car Rental Elite Status

Get complimentary hotel and car rental elite status: Marriott Bonvoy Gold, Hilton Honors Gold, National Emerald Club, Avis Preferred, and Hertz Gold Plus, upon enrollment.

Travel Protections

The Amex Business Platinum card comes with trip delay and trip cancellation and interruption coverage, as well as secondary car rental loss and damage insurance.

Purchase Protections

Get cell phone protection as well as extended warranty and purchase protection.

Amex Offers

Get access to Amex Offers to earn bonus points and statement credits on various purchases.

Refer-A-Friend Program

One of the less talked about benefits of Amex cards is the Refer-A-Friend bonus, and these can be lucrative (I was recently targeted for a 35,000-point bonus for each friend I refer through my Amex Business Platinum card).

Pick and Choose the Credits That Work for You

That’s an enormous list of benefits and credits, but thankfully, you don’t have to maximize them all to get enough value to make the Amex Business Platinum card worth it. Even though some of its benefits offer zero value to me. That’s OK, because I get enough value from other credits to make the card worth it.

To evaluate the Amex Business Platinum card, I consider just the benefits that offer the most value to me (these may be different for you).

• Wireless credits of up to $120 per year
• Dell credits of up to $400 per year
• Airline incidental credits of up to $200 per year
• CLEAR Plus membership of up to $199 per year

Those 4 credits alone offer more value than the $695 annual fee (rates & fees). That means I’m getting enough value to keep the card, so it doesn’t matter that other benefits go unused each year. I don’t have any use for the Indeed or Adobe credits, for example.

That’s also without considering things like airport lounge access, travel insurance, TSA PreCheck or Global Entry fee credit, or referral bonuses. I don’t bother calculating the monetary benefit of those things, since I know I am already getting enough value to justify the annual fee.

Final Thoughts

When I’m evaluating whether or not to keep a credit card long-term, I like to keep it simple. As long as I’m getting good value, I don’t feel the need to maximize every single benefit a card offers. The Amex Business Platinum card has a huge list of benefits. As long as you’re getting enough value from some perks, you don’t need to worry about maximizing every benefit to get lasting value.

For the car rental loss and damage insurance benefit of The Business Platinum Card^® from American Express, car rental loss and damage insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the commercial car rental company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. geographic restrictions apply. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.

For the trip cancellation and interruption insurance benefit of The Business Platinum Card^® from American Express, the maximum benefit amount for trip cancellation and interruption insurance is $10,000 per covered trip and $20,000 per eligible card per 12 consecutive month period. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

For the trip delay insurance benefit of The Business Platinum Card^® from American Express, up to $500 per covered trip that is delayed for more than 6 hours; and 2 claims per eligible card per 12 consecutive month period. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

For the cell phone protection benefit of The Business Platinum Card^® from American Express, coverage for a stolen or damaged eligible cellular wireless telephone is subject to the terms, conditions, exclusions and limits of liability of this benefit. The maximum liability is $800, per claim, per eligible card account. Each claim is subject to a $50 deductible. Coverage is limited to two (2) claims per eligible card account per 12 month period. Eligibility and benefit level varies by Card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

For the extended warranty benefit of The Business Platinum Card^® from American Express, when an American Express^® card member charges a covered purchase to an eligible card, extended warranty can provide up to one extra year added to the original manufacturer’s warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your card for the item up to a maximum of $10,000; not to exceed $50,000 per card member account per calendar year. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

For the purchase protection benefit of The Business Platinum Card^® from American Express, 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. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.