MoneyGeek’s Take
The Business Platinum Card® from American Express Review
The Business Platinum Card® from American Express is one of the most expensive business cards in the market, but also offers an enviable list of luxury travel and lifestyle benefits that can help you recover the cost. This card is a good choice if you incur high expenses, which is the best way to leverage the perks offered.

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Many credit card users do not mind the high annual fee that banks charge. But at $695, the annual fee for this card is high even by such standards. Our review of The Business Platinum Card® from American Express 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 FeatureHas or Not
- Has Annual Fee
- Has Balance Transfer Offer
- Has APR Offer
- Cash Back Rewards
- Travel Rewards
The Business Platinum Card® from American Express at a Glance
The card currently offers a sign-up bonus of 120,000 reward 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.
- The Business Platinum Card® from American Express
A good business card for premium travel benefits
- Good–ExcellentRecommended Credit
- $295Annual Fee
- 1–5 Points per $1*Rewards Rate
- 5xRewards Rate on Air Travel
- 5xRewards Rate at Hotels
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
- BenefitsDescription
- High RewardsThe American Express Business Platinum card provides 5X rewards points on flights and hotels booked through Amex Travel.
- Sign-Up BonusThe card offers a phenomenal sign-up bonus of 120,000 reward points after spending $15,000 in qualifying purchases in the first three months.
- Transferable Rewards PointsYou can redeem rewards points by <a href="https://www.moneygeek.com/credit-cards/advice/american-express-membership-rewards-transfer-partners/">transferring them to other loyalty programs or partners</a> that American Express has agreements with.
- Lounge AccessThis 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 FeesThe card does not charge any international transaction fees which makes it ideal for foreign purchases made online or when you travel abroad.
Cons
- DrawbacksDescription
- High Annual FeeThe American Express Business Platinum card charges an annual fee of $695, which makes it one of the most expensive business cards.
- No Intro APRThe 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 UsersWhile some cards allow you to add authorized users at a reasonable cost, this card charges $300, which is steep.
- Eligibility for Sign-Up BonusAlthough the card offers a generous welcome bonus of 120,000 rewards points, you are eligible to utilize this only if you spend $15,000 within the first three months after your account is activated.
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 120,000 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 $400 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.
5X Rewards
The Business Platinum Card® from American Express provides 5X rewards points on flights and hotels.
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.
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 FeatureDescription
- Airport Lounge AccessThis 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 StatusWhen 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 ReimbursementIf 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.
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 FeatureAmount or Rate
- APR18.49% – 26.49% Variable
- Annual Fee$295
- Cash Back Rewards
- Rewards Rate1–5 Points per $1*
- Airline Benefits
Annual Fee
There is a $695 annual fee for this card.
Regular APR
The Business Platinum Card® from American Express offers a variable regular APR between 18.49% – 26.49% 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.
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 The Business Platinum Card® from American Express?
Other Considerations for The Business Platinum Card® from American Express
The Business Platinum Card® from American Express 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 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 Will Be an Additional Card in Your Wallet
As an additional card with no international transaction fees, The Business Platinum Card® from American Express 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.
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 The Business Platinum Card® from American Express Compares to Other Cards
Although The Business Platinum Card® from American Express 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.
In-Depth Credit Card Comparisons:
Quick Comparison of Business Platinum Card® from American Express
The Business Platinum Card® from American Express
- Annual Fee: $695
- APR: 18.49% – 26.49% variable
- 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
Ink Business Preferred® Credit Card
- Annual Fee: $95
- APR: 20.24% – 25.24% Variable
- 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 Business Platinum Card® from American Express 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.
The Blue Business® Plus Credit Card from American Express
American Express Cash Magnet® Card
American Express® Gold Card
Marriott Bonvoy Business® American Express® Card
Journey Student Rewards from Capital One
Capital One Platinum Credit Card
Capital One Quicksilver Cash Rewards Credit Card
Capital One Spark Cash Plus
Chase Freedom® Student Credit Card
Chase Freedom Unlimited®
Ink Business Cash® Credit Card
Ink Business Unlimited® Credit Card
Chase Sapphire Preferred® Card
World of Hyatt Credit Card
Citi® Diamond Preferred® Card
Credit One Bank® Platinum Visa®
Credit One Bank® Platinum Visa® for Rebuilding Credit
Deserve® EDU Mastercard for Students
Mastercard® Black Card™
Mastercard® Titanium Card™
Simmons Rewards Visa Signature®
Simmons Visa®
U.S. Bank Altitude® Go Visa Signature® Card
U.S. Bank Visa® Platinum Card
American Express Blue Business Cash™ Card
Blue Cash Everyday® Card from American Express
Learn more about credit cards in general
sources
- American Express. "Business Platinum Card from American Express." Accessed September 8, 2021.
- Consumer Finance Protection Bureau. "Credit card agreement database." Accessed September 8, 2021.
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