American Express Business Platinum Card Credit Card: Expert Review & Considerations

Many credit card users do not mind the high annual fee that banks charge. But at $595, the annual fee for this card is high even by such standards. Our review of the American Express Business Platinum Card provides a comprehensive perspective of all its benefits and features along with the various charges that come with it.

Card Details to Know Up Front

Bonus, Fee or Feature
Has or Not
Has Annual Fee
Has Balance Transfer Offer
Has APR Offer
Cash Back Rewards
Travel Rewards
Hotel Benefits
Airline Benefits
Has Rewarding Welcome Offer
Has Foreign Transaction Fee
Credit Needed
Good–Excellent

Click to see this card’s rates, fees and how they compare to other cards in our dataset.

American Express Business Platinum Card at a Glance

The card currently offers a sign-up bonus of 100,000 rewards points. You will be eligible for these rewards points once you spend $15,000 within the first three months of account activation.

If you travel often, this card could be a perfect choice to make your journeys easier and more rewarding. This card is a stellar choice for those who spend a lot and expect to reap benefits for their frequent usage.

American Express Business Platinum Card
A good business card for premium travel benefits
- Good–ExcellentCredit Needed
- $595Annual Fee
- 1–5 Points per $1*Rewards Rate
- 5xRewards Rate on Air Travel
- 5xRewards Rate at Hotels
Pros
Bonus points through a spend-based welcome offer
5x points on flights and prepaid hotels booked through Amex Travel
Get 35% points back when paying with points for eligible fares through Amex Travel
Statement credits for payments toward multiple service providers
Airport lounge access
No foreign transaction fees
Complimentary Marriott Bonvoy Gold Elite status and Hilton Honors Gold status
Complimentary travel insurance
Simplified expense management through employee cards, integration with QuickBooks and year-end-summaries

Cons
$595 annual fee
Low reward earn rate outside of bookings made through Amex Travel
Penalty APR may apply in cases of late/returned payments
Earn 100,000 bonus points if you spend $15,000 on purchases in three months from account opening.
Earn 5x points per $1 on flights and prepaid hotels that you book through Amex Travel.
Earn 1.5x points on eligible purchases of over $5,000.
Earn 1x points on all other purchases.
Earn points quicker through employee cards.
Redeem your points for flight and hotel bookings through Amex Travel.
Transfer points to frequent flyer/loyalty programs of partner airlines such as Aer Lingus, Air Canada, British Airways, Emirates, JetBlue, Singapore Airlines and Virgin Atlantic.
Use your points to cover for charges on your card, shop online or get gift cards.
Pay with points for all or part of eligible air travel and get 35% of those points back, up to 500,000 points back per year.
Get airport lounge access through the American Express Global Lounge Collection.
Get a $200 airline fee credit every year.
Get a $179 statement credit for payments toward CLEAR each year.
Get a $200 statement credit for Dell Technologies annually.
Get a $100 credit toward Global Entry fees every four years or an $85 credit toward TSA PreCheck fees every four and a half years.
Stand to receive discounts through the Premium Private Jet Program.
Pay no foreign transaction fees when you use this card outside of the U.S.
Get elevated to Marriott Bonvoy Gold Elite status and Hilton Honors Gold status automatically.
Get perks such as complimentary breakfast, Wi-Fi access and late check-out when you book hotels through the Fine Hotels + Resorts Program.
Stand to benefit through travel coverage in the form of trip delay insurance, trip cancellation and interruption insurance, car rental loss and damage insurance and baggage insurance plan.
Safeguard your business purchases through extended warranty, purchase protection and cell phone protection.
Connect with QuickBooks for auto-expense categorization.
Get category-based year-end summaries.
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
Terms, rates and fees apply
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Pros & Cons Explained

Although the card offers many perks such as a sign-up bonus and extensive rewards for purchases made with the card, you must also fulfill certain criteria to be eligible for the bonus. The card also comes with charges that you must keep in mind.

Pros

Benefits
Description
High Rewards
The American Express Business Platinum card provides 5x rewards points on flights and hotels booked through Amex Travel.
Sign-Up Bonus
The card offers a phenomenal sign-up bonus of 100,000 rewards points.
Transferable Rewards Points
You can redeem rewards points by transferring them to other loyalty programs or partners that American Express has agreements with.
Lounge Access
This card offers access to a host of lounge services such as Centurion, American Express Global, Airspace, Escape and Plaza Premium. It includes access to more than 1,300 Priority Pass lounges worldwide, including Delta Sky Club lounges when you’re flying Delta.
No Foreign Transaction Fees
The card does not charge any international transaction fees which makes it ideal for foreign purchases made online or when you travel abroad.

Cons

Drawbacks
Description
High Annual Fee
The American Express Business Platinum card charges an annual fee of $595, which makes it one of the most expensive business cards.
No Intro APR
The card does not provide an intro APR offer. This means that purchases made using it will attract interest from the date of the transaction if you don’t pay your balance monthly.
Charges for Authorized Users
While some cards allow you to add authorized users at a reasonable cost, this card charges $300, which is steep.
Eligibility for Sign-Up Bonus
Although the card offers a generous welcome bonus of 100,000 rewards points, you are eligible to utilize this only if you spend $15,000 within the first three months after your account is activated.

LOOKING FOR THE BEST CREDIT CARDS OF 2021?

MoneyGeek has curated a list of the best business credit cards, but the American Express Business Platinum did not make the cut. You can check the other cards in this category and what they offer in our detailed review.

Bonuses & Rewards Explained

The American Express Business Platinum card offers a welcome bonus of 100,000 rewards points, although you will have to spend $15,000 within the first three months to be eligible.

You can also get statement credits up to $200 per year when you use this card to purchase computers directly from Dell stores or the Dell website.

Leverage this card for your business expenses by charging purchases that are over $5,000. Each transaction above $5,000 will fetch you an additional 0.5 points for every dollar.

1

5x Rewards

The American Express Business Platinum Card provides 5x rewards points on flights and hotels.

2

1 million points per year

Earn 1.5x points on eligible purchases of $5,000 or more, up to 1 million bonus points per year.

3

1 point per dollar

You get 1 point for every dollar spent on all other purchases.

Other Features Explained

The American Express Business Platinum card offers a host of other benefits, which are immensely useful if your business involves frequent travel for you or your employees.

Card Feature
Description
Airport Lounge Access
This card gives you complimentary access to more than 1,300 airport lounges across 140 countries. You can also add additional cardholders to the lounge access program (you may incur a fee when you add cardholders to your account).
Elite Hotel Status
When you enroll for the Hilton Honors and Marriott Bonvoy loyalty programs, you will automatically qualify for a Gold membership with these hotel chains courtesy of the Business Platinum card. This will allow you to enjoy additional perks and complimentary stays.
Airline Fee Reimbursement
If your business involves frequent travel, you can receive up to $200 in statement credits per year for incidental expenses made on this card. Expenses made by your employees also count. Eligible expenses include fees for checked bags and in-flight refreshments. Keep in mind that seat upgrades are not eligible for reimbursement.
Trip Cancellation or Interruption Coverage
If you had to cut short or cancel a trip for any covered reason, you will be covered up to $10,000 per trip and $20,000 per year, provided you paid for the trip with this card.
Coverage for Lost or Damaged Luggage
You get coverage up to $2,000 for checked baggage and a combined limit of up to $3,000 for checked and carry-on baggage. You can utilize this protection if you have booked your trip with this card.
Global Entry/TSA PreCheck Application Fee Reimbursement
The card offers statement credits for expedited airport screening programs from Global Entry and TSA PreCheck. You can choose to receive these credits every four years for Global Entry or every 4.5 years for TSA PreCheck.

MONEYGEEK EXPERT TIP

If you hold an American Express Business Platinum card, you will receive 3.5 extra points for every 10 points you redeem for a first-class or business-class flight on any airline. For the second option, you must pay using your American Express points. This is valid for up to 500,000 bonus points each calendar year.

Understanding the Fine Print

Although the rewards points and travel benefits offered by the card are noteworthy, you must also keep in mind the other charges the card comes with.

Card Feature
Amount or Rate
APR
14.24%–22.24%
Annual Fee
$595
Cash Back Rewards
Rewards Rate
1–5 Points per $1*
Airline Benefits
Rewards Rate on Groceries
1x
Rewards Rate on Gas
1x
Rewards Rate on Dining
1x
Rewards Rate on Entertainment
1x
Rewards Rate on Online Shopping
1x
Rewards Rate on TV, Phone, Internet Services
1x
Rewards Rate on Air Travel
5x
Rewards Rate at Hotels
5x
Balance Transfer Fee
Unspecified
Balance Transfer APR
Unspecified
Late Fees
$39.00
Cash Advance Fee
Unspecified
Cash Advance APR
N/A
Foreign Transaction Fee
None

Annual Fee
There is a $595 annual fee for this card.
Regular APR
The American Express Business Platinum Card offers a variable regular APR between 14.24%–22.24% for purchases. Since there is no intro APR offer, purchases made using this card will attract interest from the date of the transaction if you don’t pay your balance monthly.
Rewards Rate
You can earn 5x points in certain spending categories (air travel and hotel) and 1.5x points for every dollar for purchases exceeding $5,000. All other purchases earn 1x points.
No Foreign Transaction Fee
This card does not charge any fees for international transactions. Many competing cards charge up to 3% of each transaction.

FINDING YOUR CARD'S RATES AND FEES

When comparing this card with other cards for small businesses, it is important to consider the various charges such as annual fees and APR. If you want to compare the benefits of this card with one that you already have, you can check the last billing statement of your existing card. Alternatively, you can check your card provider's website or app.

The Consumer Financial Protection Bureau (CFPB) maintains an exhaustive credit card agreement database which you can refer to.

Who Should & Shouldn’t Consider American Express Business Platinum Card?

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Other Considerations for American Express Business Platinum Card

The American Express Business Platinum Card offers some serious benefits and redemption options. To know whether this card is suitable for you, you must first decide whether you will use it as a standalone card or in combination with other cards.

Things to Consider if This is Will Be Your First or Only Credit Card

If the American Express Business Platinum is going to be your first or the only card, you must keep in mind that this is a charge card, which means that the entire balance has to be paid off in full every month before the due date.

This card could be of immense value if you can maximize the spending categories that earn you 5x rewards points.

Things to Consider if This is Will Be an Additional Card in Your Wallet

As an additional card with no international transaction fees, the American Express Business Platinum card is perfect for international travel. Shift your spending habits to maximize this card’s rewards by making all flight and hotel purchases with it instead of another card.

WHY TRUST OUR REVIEWS

MoneyGeek’s tried and tested methodology and review process is exhaustive and includes collecting important information and meticulous comparison of factors that will have an important bearing on your budget.

How American Express Business Platinum Card Compares to Other Cards

Although the American Express Business Platinum Card offers many benefits, business owners can consider other available options in the market. We compared other credit cards in this category to give you an idea of how this card stacks up against the competition.

Quick Comparison of American Express Business Platinum Card

American Express Business Platinum Card

Annual Fee: $595
Regular APR: 14.24%–22.24%
Rewards rate on travel & hotels: 5x
Transfer balance from existing card: No
Mini verdict: Best for bigger businesses with high expenses that can maximize travel benefits

Chase Ink Business Preferred Card

Annual Fee: $95
Regular APR: 15.99%–20.99%
Rewards rate on travel & hotels: 3x
Transfer balance from existing card: Yes
Mini verdict: Best for small businesses that involve travel but also want a low annual fee

Other Helpful Decision-Making Q&As

Choosing one card from several formidable options can be tiresome. Knowing what other users frequently ask about the American Express Business Platinum Card can help you make the right decision.

Still not sure about this card? Consider these options.

If you’re still not certain about the card you want, you can check what other business credit cards have to offer. If you are not looking for a business card, you can check our guides to the best travel cards or balance transfer cards.