The Business Platinum Card® from American Express Review

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ByGrace Pilling
Edited byLukas Velunta
ByGrace Pilling
Edited byLukas Velunta

Updated: June 13, 2024

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The Business Platinum Card® from American Express

Rewards Rate5X Membership Rewards® points on flights and prepa...
APR19.49% - 28.49% variable
Annual Fee$695
Recommended Credit670-850 (Good to Excellent)

The Business Platinum Card® from American Express is a powerhouse for discerning business owners. Its attractive welcome offer provides an auspicious beginning, especially for businesses with sizable upfront expenses. However, the rich rewards across key spending areas set this card apart, turning every purchase into a strategic advantage. The card also boasts an array of statement credits for varied business essentials, elevating operational value. Travel enthusiasts will find its travel-related benefits unparalleled, blending luxury with reassurance. Despite its premium annual fee, its myriad rewards and benefits position this card as a compelling proposition for businesses that spend robustly.

The Business Platinum Card® from American Express Overview

When selecting a credit card, meticulously evaluating its features is paramount to ensuring it aligns with individual financial and lifestyle needs, because every card brings a unique blend of benefits and potential drawbacks.

  • Rewards rate: 5X points on flights and prepaid hotels through AmexTravel.com, 1.5X points from qualifying purchases of $5,000 or more and on eligible purchases in key business categories (on up to $2 million in combined spending per calendar year) and 1X points on general purchases
  • Welcome offer: Earn 150,000 points if you spend $20,000 in first three months
  • Regular APR: 19.49% - 28.49% Variable (See rates and fees)
  • Annual fee: $695 (See rates and fees)
  • Intro APR offer: None

Important Card Details

Navigating the maze of business expenditures while optimizing for rewards and savings can be a multifaceted challenge. The Business Platinum Card® from American Express presents a compelling toolkit of financial benefits and functional perks designed to cater to the eclectic needs of businesses. However, it brings a suite of considerations that prospective cardholders should evaluate carefully amidst its striking offers and notable investments.

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    Impressive Welcome Offer

    The Business Platinum Card® from American Express jumps out of the gate with an enticing 150,000-point welcome offer after spending $20,000 in the first three months. This generous welcome offer holds immense value, especially for businesses with significant upfront costs. Depending on redemption, these points can offset travel expenses or be utilized towards business rewards, offering an excellent return on investment early on.

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    Great Rewards on Business Spending

    With carefully tailored reward tiers, this card allows businesses to earn more points on high-volume categories. Notably, when booking through AmexTravel.com, you can earn 5X Membership Rewards® points on flights and prepaid hotels. You'll also earn 1.5X on qualifying purchases of $5,000 or more in a variety of sectors, including electronic goods, retailers, software, cloud service providers, construction materials, hardware supplies and shipping providers (on up to $2 million in combined spending each year). This reward structure provides an exceptional return on expenses already crucial for many businesses, turning necessary spending into an investment.

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    Significant Statement Credits

    The Business Platinum Card® from American Express provides substantial statement credits on various business essentials, acting as a valuable cashback mechanism. From tech and recruitment to telecoms, and even luxury travel expenses, these credits offer direct savings. These benefits can notably mitigate operational costs, and their value will align with each business's unique spending habits. These credits contribute substantially to operational efficiency and heighten the card's overall worth.

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    Travel Perks

    For frequent business travelers, the free access to over 1,400 airport lounges globally through the American Express Global Lounge Collection is almost unbeatable. The card also offers hotel credits and onboard cruise credits, complementing its point system to deliver a comprehensive travel rewards package. Plus, travel insurance protections offer peace of mind, making business travel not just more rewarding, but also more comfortable and secure.

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    High Annual Fee

    While the annual fee of $695 may initially seem steep, when balanced against the card's extensive rewards, credits, and benefits, it's a worthwhile investment for businesses with high spending and travel frequency. However, if your business has lower spending or less frequent travel, you should carefully consider whether the benefits will sufficiently offset this fee.

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    No Intro APR Offers

    The absence of introductory APR offers means this card might not be the best fit for businesses seeking to leverage credit for initial growth or to manage cash flow. The card's regular variable APR ranges from 19.49% to 28.49%, which could add up over time. Therefore, this card is most suitable for businesses capable of paying off the balance in full each month to avoid accruing interest.

How the The Business Platinum Card® from American Express Compares

A side-by-side comparison of two credit cards offers a clear lens to discern their strengths, weaknesses, and best-fit scenarios for potential cardholders.

How This Card Compares

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The Business Platinum Card® from American Express

  • Rewards rate: 5X points on flights and prepaid hotels through AmexTravel.com, 1.5X points qualifying purchases of $5,000 or more and on eligible purchases in key business categories (on up to $2 million in combined spending per calendar year) and 1X points on general purchases
  • Welcome offer: Earn 150,000 points if you spend $20,000 in first 3 months
  • Regular APR: 19.49%–28.49% Variable (See rates and fees)
  • Annual fee: $695 (See rates and fees)
  • Intro APR offer: None
  • Best for: bigger businesses with high expenses that can maximize travel benefits
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American Express® Business Gold Card

  • Rewards rate: Earn 4X Membership Rewards® points on two select categories where you spend the most each billing cycle (on up to $150,000 combined spending per year, then 1X points), 3X Membership Rewards® points on flights and prepaid hotels booked on amextravel.com using your Business Gold Card and 1X points on all other spending
  • Welcome offer: Earn 70,000 Membership Rewards® points after spending $10,000 on eligible purchases within the first three months
  • Regular APR: 19.49%–28.49% (variable Pay Over Time APR)
  • Annual fee: $375
  • Intro APR offer: None
  • Best for: high spending in specific categories

About Grace Pilling


Grace Pilling headshot

Grace Pilling was the Senior Content Manager for Credit Cards at MoneyGeek. She previously led personal finance teams at Bankrate, CreditCards.com and MoneyUnder30.

Pilling has a bachelor's degree in English from Western Sydney University and a diploma in book editing, proofreading and publishing. She is focused on empowering readers to make informed financial choices that support their best lives, not a company’s bottom line.


*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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