American Express is known for offering premium rewards cards at a cost, but for some users, the perks make up for the price. Show
The Business Platinum Card® from American Express is no exception. This small business card comes with a hefty fee, but for frequent travelers, it might be worth the expense. This American Express Business Platinum review will help you decide if this business card is right for you. Who should get the Business Platinum Card from American Express?As you’ll see in this Business Platinum Card from American Express review, this card is aimed mainly at business owners who make big purchases throughout the year — and can take advantage of the travel perks. Some of the travel perks include Gold Elite status with Marriott Bonvoy and Gold Status with Hilton Honors, premium airport lounge access, airline fee redemption, and more. Select benefits require enrollment. If you don't have a lot of business expenses yet still want the Amex Platinum travel perks, you may want to consider the The Platinum Card® from American Express card as well. Understanding how the Amex Platinum vs. Amex Business Platinum cards compare with each other can help you make the best decision for your particular needs. The Business Platinum Card from American Express is designed for those with good to excellent credit and is meant for business owners likely to use the card to pay for business travel and other expenses. If you don’t travel very much, the travel perks won’t matter as much, and the hefty annual fee won’t be worth the cost. If that sounds like you, consider getting a less expensive cash back card. Card basics
Amex Business Platinum benefits and perksThere are a few card benefits that can make the Business Platinum Card from American Express worth the cost. Carefully consider whether you’d use them, though, before you commit to the card.
Drawbacks to the Amex Business PlatinumWhile this card offers some fantastic travel benefits, it does have some drawbacks, including a high annual fee. Carefully consider if this card is worth it for you before you apply.
Earning & redeeming Membership Rewards pointsNo card review is complete without taking a look at earning and redeeming your rewards. The rewards program with this card is a little complex, so it’s important to understand some of the ins and outs if you want the best possible value. Best ways to earnWith the Amex Business Platinum, it’s all about the specific travel purchases. You’ll earn 5X Membership Rewards points for each dollar spent on flights and prepaid hotels on Amextravel.com. You must book through the American Express travel portal to earn those points on airfare and hotel stays. All other spending nets you one point per dollar. However, on eligible purchases at U.S. suppliers of construction materials and hardware, U.S. retailers of electronic goods, U.S. providers of shipping, software and cloud systems, and eligible purchases of $5,000 or more (up to $2 million per year, then 1X), you receive 1.5X points, up to one million extra points per year. You can also get 35% of your points back when you use them to book flights.
Maximizing your redemptionsBecause of the 35% point return when you use points to book flights, this is the best way to get the most out of your rewards redemptions. However, Membership Rewards points are also flexible in their redemption with partners. These flexible rewards make it easy to earn points through your spending and then use them for what works best for you. You can use Membership Rewards points to redeem gift cards and make Amazon.com purchases, but the redemption value isn’t as high. Using your rewards for travel makes the most sense and will give you the best bank for your buck. Amex Business Platinum transfer partnersIf you enjoy the flexibility of booking through another rewards program, Amex Membership Rewards has several hotel and airline transfer partners, including partners across the Star Alliance, Oneworld, and SkyTeam programs. Most partners will allow you to transfer your Membership Rewards points at a 1:1 ratio, with some exceptions. Here's a complete list of current partners.
In general, you'll likely need to have good to excellent credit to qualify for the Business Platinum Card from American Express. Numbers wise, you’re likely to have better approval odds if you have a FICO score of at least 700. Whether this card is worth it to you depends on your situation. For small business owners who have a lot of expenses and who travel a lot, the hefty annual fee can be worth it. There are a lot of travel-related perks that can easily make up for the fee as well, especially if you do a lot of business travel and book through AmexTravel.com. However, if you don’t travel much or make many
business-related purchases, this card might not be the best choice for you. Yes, the Business Platinum Card from American Express is a metal card. If you're approved for the Amex Business Platinum Card, the credit limit you receive will likely vary based on a variety of factors, including your creditworthiness and business
financials. This is up to Amex's discretion. Other cards to considerWhile the Business Platinum Card from American Express is jam-packed with benefits, you may want to compare it to the Ink Business Preferred® Credit Card or Capital One Spark Cash Plus before finalizing your decision. Both offer valuable rewards for business owners with a lower annual fee. If you prefer a travel rewards card, the Ink Business Preferred is a decent option. You can earn 3X points on the first $150,000 spent each year on travel, shipping, internet, cable, or phone services, and advertising purchases with social media and search engines; and 1X points per $1 on everything else. Plus, it's annual fee is just $95. By comparing the Ink Preferred vs. Amex Platinum Business cards directly, you can determine which is the best fit for you and your business. If your goal is to earn cash back for your business, the Capital One Spark Cash Plus Card may be a better option. It offers 2% cash back on every purchase, every day; plus 5% cash back on hotels and rental cars booked through Capital One Travel and
a $150. Author Details
Miranda Marquit Miranda Marquit has been covering money for more than a decade and is a nationally-recognized financial expert and journalist, appearing on CNBC, NPR, Forbes, Yahoo! Finance, FOX Business, and numerous other outlets. Is it hard to get American Express Business Platinum?It's not hard to get the Business Platinum Card from American Express if you have a 740 credit score and a history of earning business income. This card can be most beneficial if you're a business traveler who will use the travel benefits often.
Is American Express Platinum status worth it?Make no mistake — the Amex Platinum card is a premium card with a premium price tag. With amazing benefits like best-in-class airport lounge access, hotel elite status, and tremendous value in annual card credits, it can easily prove to be one of the most lucrative cards in your wallet year after year.
What are the benefits of AMEX Business Platinum?21 Benefits of the Amex Business Platinum Card [$5,000+ Value]. A Huge Welcome Bonus [$1,100 to $2,000+]. Free Access to Thousands of Airport Lounges Worldwide [$1,000+]. Earn 5x Points per Dollar Spent on Flights and Prepaid Hotels on Amex Travel [$100]. Earn 1.5x on Eligible Purchases and Purchases Over $5,000 [$50]. How does AMEX Business Platinum work?This card offers an unlimited 2% cash back on every purchase, and it comes with a good welcome bonus — but it's a charge card, so you can't carry a balance. Dining rewards, in particular, are a weak spot for The Business Platinum Card® from American Express.
|