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The Business Platinum Card® from American Express offers an impressive array of benefits, making it an ideal option for frequent business travelers. This ultra-premium card comes with a generous welcome bonus, airport lounge access, a high earnings rate for certain travel bookings through American Express Travel and a slew of other benefits that could make it a valuable addition to your wallet.
While the Amex Business Platinum has numerous benefits, it also comes with a hefty annual fee of $695 (terms apply, see rates & fees), a cost that could be too high for certain small business owners. Still, it’s possible to offset this cost fairly easily if you access many of this card’s benefits—just be realistic when assessing which benefits you’ll use.
If you’re in the market for a new business card, here’s an in-depth look at the Business Platinum Card’s benefits to help you decide if it’s right for you.
Amex Business Platinum Card Points and Travel Perks
Welcome Bonus
New Amex Business Platinum cardholders can earn 120,000 Membership Rewards® points after spending $15,000 on eligible purchases with the card within the first 3 months of card membership. While the minimum spend to earn the bonus might seem high, if you’re using the card to cover all your business expenses, it may be easier to meet that threshold than you think.
As long as you can hit the spending target and earn the welcome bonus, you can easily beat the cost of the Business Platinum Card’s annual fee the first year. The value of Membership Rewards points depends on how you redeem them. If you book a flight through Amex Travel, points are worth 1 cent each. So, for example, 120,000 points would be worth $1,200.
You can also transfer points to a wide variety of airline and hotel partners (more on that later) and redeem them for bookings through those loyalty programs at potentially outsize value.
Earning Rates
Besides the welcome bonus, cardmembers earn 5 Membership Rewards® points per dollar on flights and prepaid hotels through American Express Travel, 1.5 points per dollar on eligible purchases at U.S. construction material & hardware suppliers, electronic goods retailers and software and cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year and 1 point per dollar on other eligible purchases.
If you often book travel through the Amex portal, you could earn a significant number of points on flights and prepaid hotels. And if you opt to use points to book flights through the Amex portal, you’ll get 35% of your points back—up to 1 million points back per calendar year.
Lounge Access
Business Platinum cardholders also get free access to over 1,400 lounges through The American Express Global Lounge Collection, including the following:
- The Centurion Lounge
- The International American Express Lounges
- Priority Pass (enrollment required)
- Delta Sky Club
- Plaza Premium
- Escape Lounges
- Airspace
To offer some context on the value of these benefits, if you were to purchase a Priority Pass membership on your own, you’d pay from $99 to $469 depending on the membership tier you chose. And you’d pay $695 annually, as an individual member, for Delta Sky Club access.
Travel and Business Credits
As an Amex Business Platinum cardholder, you’ll get several travel credits that can help you save time and money, including an up to $200 annual statement credit for airline incidentals (when you select one qualifying airline), an up to $189 CLEAR® Plus credit per year, and a fee credit for TSA PreCheck or Global Entry.
Beyond travel credits, you’ll also get several annual credits that can offset the cost of certain business expenses, including an up to $400 Dell statement credit ($200 between January and June and $200 between July and December), an up to $360 Indeed statement credit, an up to $150 Adobe statement credit and an up to $120 wireless in statement credits per year for wireless telephone service purchases made directly with a wireless provider in the U.S.
Enrollment is required to access certain benefits.
Elite Status
Some premium travel cards provide elite status with certain hotel programs—and the American Express Business Platinum delivers that. With this card and enrollment, you’ll get complimentary Marriott Bonvoy Gold Elite and Hilton Honors Gold status, and access to benefits like late checkout, room upgrades, bonus points in the respective hotel company’s loyalty program and more (exact benefits will vary depending on whether you’re staying at a Marriott or Hilton property).
Fine Hotels & Resorts
You’ll get additional value when you book with a Fine Hotels & Resorts property through Amex Travel using your Business Platinum Card. Benefits include complimentary breakfast for two, late checkout, early check-in and an up to $100 credit that can be used for food, drinks, or spa visits. There are over 2,000 hotels and resorts to choose from, which means you’ll probably be able to upgrade your travel experience no matter your destination.
Rental Car Upgrades
In addition to elite status in certain hotel programs, you’ll also get premium status in popular rental car programs (when you enroll), including Hertz, Avis, and National Car Rental with this card. As a premium member, you’ll enjoy free upgrades when available and perks such as priority access.
Travel Insurance
If you’ve booked a trip using your Amex Business Platinum, you have some extra peace of mind thanks to the card’s travel protections—including trip cancellation and interruption insurance¹, trip delay insurance¹ and coverage for lost or damaged baggage². These benefits can compensate you if your trip is canceled, cut short or delayed for a covered reason, or if you need to replace checked or carry-on luggage lost or damaged due to a covered reason.
Other Protections
The Business Platinum from American Express also offers other protections beyond travel insurance. Its cell phone protection will reimburse you up to $800 for a covered incident (subject to a $50 deductible), while its purchase protection coverage provides up to $10,000 worth of protection for covered purchases from 90 days of your purchase date³ . You’ll also get extended warranty protection².
Can I Transfer My Amex Membership Rewards Points?
Apart from its array of benefits, the Amex Business Platinum offers the flexibility to transfer your Membership Rewards points to several different partners, including 17 airlines and three hotel programs. Your points will typically transfer at a 1:1 ratio, though you could net a few extra points by transferring to certain partners, such as AeroMexico or Hilton Honors.
Amex travel partners and transfer ratios include:
| Partner | Transfer Ratio |
|---|---|
| Aer Lingus AerClub | 1:1 |
| AeroMexico Club Premier | 1:1.6 |
| Air Canada Aeroplan | 1:1 |
| Air France/KLM Flying Blue | 1:1 |
| All Nippon Airways Mileage Club | 1:1 |
| Avianca LifeMiles | 1:1 |
| British Airways Executive Club | 1:1 |
| Cathay Pacific Asia Miles | 1:1 |
| Choice Privileges Rewards | 1:1 |
| Delta Air Lines SkyMiles | 1:1 |
| Emirates Skywards | 1:1 |
| Etihad Guest | 1:1 |
| Hawaiian Airlines HawaiianMiles | 1:1 |
| Hilton Honors | 1:2 |
| Iberia Plus | 1:1 |
| JetBlue TrueBlue | 0.8:1 |
| Marriott Bonvoy | 1:1 |
| Qantas Frequent Flyer | 1:1 |
| Singapore Airlines KrisFlyer | 1:1 |
| Virgin Atlantic Flying Club | 1:1 |
Is the Amex Business Platinum Card Worth the Annual Fee?
The Amex Business Platinum may be worth the $695 annual fee if you travel often and you’re able to tap into the many benefits the card offers. While earning the welcome bonus alone can offset the annual fee the first year, to recoup the cost on an ongoing basis, you’ll need to turn to the high earnings rate for Amex travel purchases, the complimentary lounge access and the generous credits for travel and various business services.
But, for small businesses that don’t require frequent travel, a cheaper alternative may be better. For instance, less frequent travelers might consider the American Express® Business Gold Card. This card comes with a lower annual fee than the Business Platinum—$295 (terms apply, see rates & fees)—but still offers a generous welcome bonus, a high earnings rate on certain spending and benefits such as a baggage insurance plan² and trip delay coverage¹.
With the Amex Business Gold, new cardholders can earn 70,000 Membership Rewards® points after spending $10,000 on eligible purchases within the first 3 months of opening an account.
And, for ongoing rewards, you’ll earn 4 Membership Rewards® points per dollar on the 2 select categories where a business spends the most each month. 1 point per dollar is earned for other purchases. The 4 point per dollar earning rate applies to the first $150,000 in combined purchases from the 2 eligible categories each calendar year.
How To Maximize Amex Business Platinum Benefits
The first step to maximize the value you can get with the Amex Business Platinum is to make sure you can realistically meet the spend requirement to earn the welcome bonus: 120,000 Membership Rewards® points after spending $15,000 on eligible purchases with the card within the first 3 months of card membership.
If you’re concerned about your ability to meet the high minimum spend required to earn the bonus, a different business credit card might be a better option.
On an ongoing basis, those who travel often for business will likely get the most value from this card, as it offers an array of travel credits, premium statuses in hotel and rental car programs and multiple travel insurance protections. For instance, consider the annual up to $200 airline incidentals statement credit, the annual up to $189 CLEAR® Plus statement credit and the fee credit for Global Entry or TSA PreCheck (available every four years for the former or every four-and-a-half for the latter).
When paying for travel bookings (as opposed to redeeming points for award travel) you’ll want to use Amex Travel whenever possible, to take advantage of the Business Platinum’s rate of 5 points per dollar spent: 5 Membership Rewards® points per dollar on flights and prepaid hotels through American Express Travel, 1.5 points per dollar on eligible purchases at U.S. construction material & hardware suppliers, electronic goods retailers and software and cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year and 1 point per dollar on other eligible purchases.
If you want to book travel with points, the Membership Rewards program has a wealth of airline and hotel partners. With most partners, points transfer at a 1:1 rate—and it’s possible to get exceptional value for your points if you’re sharp about looking out for good award travel deals.
Bottom Line
Overall, the American Express Business Platinum is a valuable tool for business owners seeking premium travel benefits and protections, and willing to shell out $695 per year for the annual fee. But make sure you will actually use the benefits before hitting that apply button.
To view rates and fees for the The Business Platinum Card® from American Express please visit this page.
To view rates and fees for the American Express® Business Gold Card please visit this page.
¹Eligibility 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.
²Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
³Coverage 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.
FAQs
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.
How much income do you need for Amex Business Platinum? ›What does your credit score need to be for the Amex Platinum card? While there is no set score needed, we recommend you have a credit score of at least 670, 2 years of clean credit history, and an income of at least $50,000 per year to apply for the Amex Platinum card.
How do I get the most out of Amex Business Platinum? ›- Score the sizeable welcome offer. ...
- Earn maximum points for regular spending. ...
- Turn your points into miles for higher redemption values. ...
- Take full advantage of the $200 airline fee credit. ...
- Access airport lounges.
- 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]
While American Express probably won't ask to verify your income, it's not a good idea to lie about your income on an application. In fact, providing false information on a credit card application is against federal law. Therefore, you're much better off being honest when applying for an American Express credit card.
Does Amex run your credit for a business card? ›Amex will perform a credit check with consumer and business credit bureaus when you apply for an Amex business card. Your small businesses may not have any business credit history, but that's okay.
Does Amex business Platinum pull personal credit? ›Since this is a business credit card, the credit and payment history you build is tied to your business credit report. However, when you apply for the Amex Business Platinum card, you may see a hard inquiry or hard pull on your personal credit report.
Does Amex Platinum business get lounge access? ›Platinum Card Members can enjoy access to more than 1,400+ airport lounges across 140 countries and counting, including flagship locations through The Centurion® Network which includes Centurion Lounges and Escape Lounges- The Centurion® Studio Partner.
How many Amex business Platinum cards are there? ›The four Amex Platinum cards are rich in benefits, but not wide in scope. For frequent travelers, perks like lounge access, hotel and car rental status and travel credits could more than make up the cost of the annual fee.
Does Amex Business Card get you into lounge? ›Yes, you can. Guests will be charged at $32 each. How can I enter? Present your valid Priority Pass card (or digital Card), a boarding pass with a confirmed reservation for same-day travel and a government issued ID.
Does Amex Platinum increase your credit limit? ›
Yes, Amex increases credit limits automatically. This might happen if you have excellent creditworthiness and make all your payments on time. Paying your balances in full each month or maintaining a low credit utilization ratio might also work in your favor.
Are Amex business cards hard to get? ›Summary. Getting the American Express® Business Gold Card isn't difficult if you have a credit score of at least 670, consistent income, and positive payment history with at least one other card.
Do you have to pay off Amex Business Platinum every month? ›Platinum cards must be paid off in full every month. Gold card owners can carry over certain balances with interest.
How does the American Express Business Platinum Card work? ›The Business Platinum Card® from American Express earns 5 Membership Rewards® points per dollar on flights and prepaid hotels through American Express Travel, 1.5 points per dollar on eligible purchases at U.S. construction material & hardware suppliers, electronic goods retailers and software and cloud system ...
Is the American Express Business Platinum Card metal? ›Metal card — Both the Business Gold and the Business Platinum feature heavy metal cards. Pay Over Time — These cards have no preset spending limit. You can, however, use Amex's Pay Over Time feature to extend payment on certain purchases.
Can I lie on annual income for credit card? ›What happens if you're caught lying on a credit card application? Lying on a credit card application can be a costly mistake, as it constitutes fraud and can result in up to $1 million in fines and/or 30 years in prison.
What is the average income of an American Express card holder? ›According to this, the average Departures reader (and therefore average Amex Platinum cardmember): Has a net worth of $4.3 million. Has a household income of $474,000.
Does Amex look at your bank account? ›They will request tax returns and bank statements. What they're looking for is to make sure the income you reported on the application is true. The process typically takes 2-3 weeks, and you're assigned a specialist to talk to.
What is the easiest Amex card to get? ›Which Amex card is the easiest to get? The easiest Amex cards to get are ones with a lower minimum spending requirement for rewards, as well as a low annual fee or no annual fee. Examples include the Blue Cash Everyday Card from American Express and the American Express Cash Magnet Card.
Does Amex business have a limit? ›American Express Small Business Cards give you either a set credit limit based on financial details and information we receive in your application, or a No Preset Spending Limit*.
Is American Express business line of credit a hard pull? ›
Yes, as part of the application process, American Express will perform a hard credit pull on your personal and business credit scores.
Is Amex Platinum same as business Platinum? ›Amex Platinum Card — Overview. First, let's take a look at a side-by-side comparison of the overall value of each card's benefits. Just be aware that the Amex Platinum card is a consumer card while the Amex Business Platinum card is an Amex business card.
What credit score do you need for Amex Platinum? ›The Platinum Card® from American Express requires good to excellent credit to qualify. This is typically defined as a credit score of 690 or better.
Can I have both Amex Platinum and business Platinum? ›Using both the personal Amex Platinum Card and the Business Platinum Card can get you the maximum value on both your rewards-earning and redemptions, in addition to some great cardholder perks.
Does Business Platinum have Priority Pass? ›One of the benefits of the Amex Business Platinum card is membership with the world's largest lounge network, Priority Pass. Priority Pass operates 1,300+ airport lounges worldwide, including over 110 lounges in the U.S. alone.
What is the 3 hour rule for Centurion Lounge? ›If your same-day outbound flight departs after the lounge closes for the day, we will admit you as early as 3 hours prior to the lounge closing, subject to available capacity. Select lounges may allow access to eligible Card Members with a confirmed reservation for any same-day travel (departure or arrival).
Does Amex Platinum get you into Delta lounge? ›Platinum and Centurion American Express Card Members may enter the Club with up to two guests or their immediate family (spouse/domestic partner and children under 21 years of age) for a per-visit rate of $39 per person, per location.
Is Amex Platinum impressive? ›The Platinum Card® from American Express is one of the top premium travel cards available. It comes with travel credits, hotel elite status, access to an impressive lounge collection, travel protections and other luxury perks. Terms apply.
Can you have 2 Amex business Platinum cards? ›Can you have multiple Platinum cards? In general, you can have multiple Amex Platinum cards, but you'll only be able to earn 1 welcome bonus.
How much is 120 000 Amex points worth? ›These points are worth a whopping $2,400 based on TPG's most recent Membership Rewards valuation of 2 cents apiece.
Which Amex gets you into airport lounges? ›
Your Amex Platinum card and Amex Business Platinum card come with complimentary lounge access to over 1,400 different lounge properties worldwide, including the vast network of Priority Pass lounges.
What is the new rule for Amex lounge? ›As of Feb. 1, 2023, the ability to bring in two guests at no additional cost went away for most cardholders. Now, unless you otherwise spend $75,000 or more each calendar year on your card, you'll need to pay $50 to bring an adult guest ($30 for children ages 2 through 17) into the Centurion Lounge. Terms apply.
What Amex card do you need for lounge access? ›Not to mention, American Express Platinum Cardmembers and up to two guests receive complimentary access as part of the American Express Global Lounge Collection. Airspace Lounge is a network of airport lounges in the U.S. which are open to Platinum Cardmembers flying on any airline.
Can I get Amex Platinum with 700 credit score? ›To apply for The Platinum Card® from American Express, you need to have a good or excellent credit score. This means you need a credit score of at least 700. The average applicant has a score of 715. Although, some applicants have been approved with a credit score as low as 643.
What credit card has the highest credit limit? ›On our list, the card with the highest reported limit is the Chase Sapphire Preferred® Card, which some say offers a $100,000 limit. We've also seen an advertised maximum credit limit of $100,000 on the First Tech Odyssey Rewards™ World Elite Mastercard®, a credit union rewards card.
Can I buy a car with a credit card? ›In general, car dealerships accept credit cards. You might even be able to use a card to buy a vehicle. However, it's more likely that the dealership will take a credit card for a down payment or a part of the down payment up to a certain amount. For you, using a credit card is a convenience or maybe a necessity.
What is the most difficult Amex to get? ›The hardest Amex card to get is the Centurion® Card from American Express. Also known as the “Black Card,” this Amex card is hard to get because it is available by invitation only, and potential candidates are rumored to need an annual income of at least $1 million.
What Amex card is the most hard to get? ›The Centurion® Card from American Express is one of the hardest credit cards to get because it requires an invitation, at least $1 million in annual income, and a significant amount charged to other Amex cards each year.
How do I increase my Amex business limit? ›You can request a credit limit increase from American Express online or over the phone. To make your request online, log in to your credit card account and select Account Services > Card Management > Increase Your Credit Limit. Or you can call the number on the back of your credit card to request an increase.
What happens if you don't pay Amex business in full? ›Interest charges accrue when you don't pay the bill off in full. Pay Over Time charges an interest rate that is the same across the Green, Gold and Platinum products. As of August 2020, cardholders who use the feature will pay an APR between 15.99% to 22.99%, depending on creditworthiness.
Can you pay rent with Amex Platinum? ›
If you are making residential rent payments, you can essentially use any payment method, including Visa, Mastercard, American Express, Discover, Diners Club International, and JCB.
What happens if you don't pay Amex Platinum in full? ›If you don't pay Amex Platinum in full, you will be charged interest on any purchases added to a Pay Over Time balance. With Pay Over Time, you can add eligible charges to a Pay Over Time balance, up to a limit.
How much income do you need for Amex business Platinum? ›What does your credit score need to be for the Amex Platinum card? While there is no set score needed, we recommend you have a credit score of at least 670, 2 years of clean credit history, and an income of at least $50,000 per year to apply for the Amex Platinum card.
What is the minimum income for Amex business Platinum? ›Salary Needed for Amex Platinum Credit Card
If you make nearly $100,000 a year and have good credit, you should have no issue getting approved. But, applicants with annual incomes as low as $40,000 have also been approved if they have a low debt-to-income ratio and pay their other credit cards in full every month.
- Score the sizeable welcome offer. ...
- Earn maximum points for regular spending. ...
- Turn your points into miles for higher redemption values. ...
- Take full advantage of the $200 airline fee credit. ...
- Access airport lounges.
| American Express Credit Card Eligibility Criteria | |
|---|---|
| Criteria | Details |
| Minimum Income | For: Salaried: Annual income of Rs. 4.5 Lakhs or above Self Employed: Annual income of Rs. 6 Lakhs or above | Company trading for more than 12 months *The minimum income requirement may vary from card to card. Click to check. |
How much do you have to make to get Amex's black card? There aren't any income requirements per se, but you most likely need to be a high spender on your Amex cards. If you're in the ballpark of $250,000 to $500,000 in annual spending across all your open Amex cards, you may qualify for the Centurion card.
Is Amex business a hard pull? ›American Express® Business Line of Credit loans are issued by American Express National Bank. Is a full credit report or “hard pull” obtained from the consumer credit bureau for the application process? Yes, American Express obtains reports from consumer reporting agencies.
Does Amex report to Dun and Bradstreet? ›No, American Express business cards don't normally report to the consumer credit bureaus. However, they may report your account information to TransUnion, Experian, and Equifax if your account reaches delinquent status. Instead, your financial activity will be reported monthly to Dun & Bradstreet.
What FICO does Amex pull? ›American Express appears to primarily pull credit reports from Experian, but this doesn't mean it doesn't occasionally pull from one or both of the other major consumer credit bureaus as well.
Does Amex Platinum have a limit? ›
If you have a Consumer or Business Green, Gold or Platinum Card, your Card does not have a credit limit. Instead, your Card has no preset spending limit unless you have been previously notified otherwise.