The Business Platinum CardĀ® from American Express Review

The Business Platinum CardĀ® from American Express ā€” all information about the credit card.

By Hanna Volkava
Updated November 24, 2023

Good Choose for Big purchase

Business Platinum CardĀ® American Express
Our Rating:
2.09 out of 5
scorer
Recommended credit score
Good to Excellent (670-799)
  • Rewards Rate:
    • 5x Points on flights and prepaid hotels on amextravel.com.
    • 1.5x Points on business categories and purchases of $5,000 or more. On up to $2 million of these purchases per calendar year.
    • 1x Points for each dollar you spend on eligible purchases.
  • Intro Offer:
    • 120,000x Points after you spend $15,000 on eligible purchases with your Card in the first 3 months.
  • Annual Fee:
    $695 annually ($695 if application is received on or after January 13, 2022)
  • Purchase Intro APR:
    None
  • Regular APR:
    19.49% - 27.49% Variable
  • Balance Transfer APR:
    None
Show more

We recommend more cards

The Business Platinum CardĀ® from American Express Rewards Calculator

How do you record your expenses?
Enter your monthly spendings on:
5X
Flights
$
5X
Hotels
$
1.5X
Purchase of more than $5,000
$
1X
All other purchases
$
Have you already recieved the American ExpressĀ® intro bonus?
How would you like to redeem points?
Calculate
Show less details

All benefits

  • Points
    • 5x On flights and prepaid hotels on amextravel.com.
    • 1.5x On business categories and purchases of $5,000 or more. On up to $2 million of these purchases per calendar year.
    • 1x On all other eligible purchases.
  • Travel
    • 5x Points on flights and prepaid hotels on amextravel.com.
    • 35% Airline Bonus:
    • Use Membership RewardsĀ® Pay with Points for all or part of an eligible fare and get 35% of those points back, up to 500,000 points back per calendar year. Eligible fares include First and Business Class tickets with all airlines available through American Express Travel, as well as any fare class with your selected qualifying airline.
    • American Express Global Lounge CollectionĀ®:
    • With more than 1,300 lounges across 140 countries and counting, the American Express Global Lounge CollectionĀ®* offers travelers more complimentary lounge options than any other card on the market.
    • Fee Credit for Global Entry or TSA Preāœ”:
    • Stay focused on getting where you need to go. Receive either a statement credit available every 4 years after you apply for Global Entry ($100) or a statement credit available every 4.5 years after you apply for a five-year membership through any Authorized Enrollment Provider for TSA Preāœ”Ā® (up to $85) with an eligible Card. If approved for Global Entry, at no additional charge, you will receive access to TSA Preāœ”Ā®. Each Additional Card on eligible Card accounts is also eligible for one statement credit for an application fee for a five-year membership every 4 years for Global Entry or every 4.5 years for TSA Preāœ”Ā®. To receive the statement credit, the application fee must be charged on the eligible Additional Card.
    • Fine Hotels + ResortsĀ® Program:
    • Receive this exclusive suite of benefits with each Fine Hotels + ResortsĀ® booking: Room upgrade upon arrival, when available, Daily breakfast for two people, Guaranteed 4pm late check-out, Noon check-in, when available, Complimentary Wi-Fi, Experience credit valued at US$100, such as a spa or food and beverage credit.
    • Marriott Bonvoy Gold Elite Hotel Status:
    • As a Business Platinum Card Member, you can upgrade to Marriott Bonvoy Gold Elite status without meeting any stay requirements.
    • Hilton Honors Gold Status:
    • With Hilton Honors Gold status, you can enjoy benefits at hotels and resorts within the Hilton Portfolio and earn reward stays faster with Hilton Honors Bonus Points.
    • Business Platinum Travel Service:
    • Platinum travel counselors specialize in providing custom itineraries and tailored recommendations to help you make the most of your travels.
    • Trip Delay Insurance:
    • Get up to $500 per trip in reimbursed expenses for covered trip delays of more than six hours.
    • Trip Cancellation and Interruption Insurance:
    • Reimburses non-refundable travel expenses of up to $10,000 per trip if the flight is cancelled for a covered reason.
    • Car Rental Loss and Damage Insurance:
    • As a Card Member, You can be covered for Damage to or Theft of a Rental Vehicle in a Covered Territory when You use your Eligible Card to reserve and pay for the Entire Rental and decline the collision damage waiver at the Rental Company counter. Please read important exclusions and restrictions. Not all vehicle types or rentals are covered. Coverage is not available for vehicles rented in Australia, Italy and New Zealand. This product provides secondary coverage and does not include liability coverage.
    • Baggage Insurance Plan:
    • Travel more comfortably knowing you can be covered for lost, damaged, or stolen Baggage when you purchase the Entire Fare for a Common Carrier Vehicle ticket (e.g. plane, train, ship, or bus) on an Eligible Card. Coverage can be provided for up to $2,000 for checked Baggage and up to a combined maximum of $3,000 for checked and carry-on Baggage. The coverage is also subject to a $3,000 aggregate limit per Covered Trip. For New York State residents, there is a $2,000 per bag/suitcase limit for each Covered Person with a $10,000 aggregate maximum for all Covered Persons per Covered Trip.
    • Premium Global AssistĀ® Hotline:
    • With Premium Global AssistĀ® Hotline, when you travel more than 100 miles from home, we can provide you with 24/7 medical, legal, financial or other select emergency coordination and assistance services. Emergency medical transportation assistance may be provided at no cost, if authorized and arranged by Premium Global Assist Hotline.
    • Premium Car Rental Privileges:
    • Enjoy complimentary membership in premium car rental programs, including special upgrades and discounts.

Rate and fee information

  • Purchase Intro APR
    • None
  • Purchase APR
    • 19.49% - 27.49% Variable
  • Intro Balance Transfer APR
    • None
  • Balance Transfers APR
    • None
  • APR for Cash Advances
    • None
  • How to Avoid Paying Interest
    • Your due date is at least 25 days after the close of each billing period. You will not be charged interest if you pay your entire balance by the due date each month.

Fees

  • Annual Fee
    • $695 annually ($695 if application is received on or after January 13, 2022)
  • Penalty Fees
    • 29.99%
  • Return Payment
    • Up to $39
  • Late Payment
    • Up to $39 or 2.99% of any past due Pay in Full amount, whichever is greater
View all Rates & Fees

Pros & Cons

Pros:
  • Impressive rewards
  • 35% airline bonus
  • Lounge access
  • No Foreign Transactions Fees
  • 0% Intro APR
Cons:
  • High annual fee
  • High spending required for earning the welcome bonus
  • Requires a good credit score
  • Balance transfers and cash advances are not available

Features

Platinum
American Express
  • No foreign transaction fees
  • Payment Flexibility
  • Fraud Protection
  • Rewards
  • Bonus points
  • Purchase Protection
  • Extended Warranty Protection
  • Travel
  • Airline
  • Baggage Delay Insurance
  • Lowest Hotel Rates Guarantee
  • Trip Cancellation
  • Auto Rental Insurance
  • 24/7 Travel Assistant
  • Airport Lounge Access
  • Good Credit
  • Excellent Credit

About the issuer

American ExpressĀ® has several card types depending on your needs.
Manage your Account & Pay your Bill
You can usually pay your bill online on your

Compare with other cards

Travel, Daily use
Venture Rewards Capital One
Capital One Venture Rewards Credit Card
3.43 out of 5
Recommended credit score
score
Good to Excellent (670-799)
  • $95
    Annual Fee
  • 19.99% - 29.99%
    Regular APR
  • 5x
    Miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options.
  • None
    Purchase Intro APR
Learn more
on our partnerā€™s site
Car rental
Venture X Rewards Capital One
Capital One Venture X Rewards Credit Card
3.53 out of 5
Recommended credit score
score
Excellent (740-799)
  • $395
    Annual Fee
  • 19.99% - 29.99%
    Regular APR
  • 10,000x
    10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary.
  • None
    Purchase Intro APR
Learn more
on our partnerā€™s site
Divvy Cross River Bank
Divvy
Cross River Bank
4.04 out of 5
Recommended credit score
score
Fair to Excellent (580-799)
  • None
    Annual Fee
  • None
    Regular APR
  • 2x - 7x:
    Points on restaurants.
  • None
    Purchase Intro APR
Apply now
On Cross River Bankā€˜s site

The Business Platinum CardĀ® from American Express Review

The Business Platinum CardĀ® from American Express is aimed at business owners who travel frequently and spend a lot. A combination of a generous rewards program and a suite of travel and shopping benefits can help make your trips easier and more rewarding, despite its hefty $695 annual fee.

Continue reading to discover all that this card has to offer and whether itā€™s a good choice for you.

The Business Platinum CardĀ® from American Express: pros and cons

Pros: Cons:
Impressive rewards. You get 5x points on flights and prepaid hotels booked through Amex travel, 1.5x points on select business categories and purchases of $5,000 or more (up to a maximum of 2 million dollars spent per year), and 1x points on all other eligible purchases. High annual fee. The Business Platinum CardĀ® from American Express has an annual fee of $695.
35% airline bonus. If you redeem points for a first or business class on any airline or an economy flight with your selected qualifying airline, you will get 35% of those points back. You can collect a maximum of 1,000,000 points back in a calendar year. High spending required for earning the welcome bonus. While the card offers a generous new-cardholder bonus, you need to spend big money soon after receiving it to earn all of it. You earn 120,000 membership rewards points after spending $15,000 on qualifying purchases within the first 3 months, challenging for small business owners.
Lounge access. The card gives access to over 1,400 lounges across 140 countries, including the International American Express Lounges, The Centurion Lounge, and Priority Pass lounges. Requires a good credit score. You are likely to need a good-to-excellent credit score to qualify.
No Foreign Transactions Fees. The Business Platinum CardĀ® from American Express lets you save on foreign transaction fees, which could quickly add up if you make purchases abroad.
0% Intro APR. The Business Platinum CardĀ® from American Express has a 0% intro APR period for 12 months from account opening. Variable APR from 19.49% - 27.49%, depending on your creditworthiness, is applied after the intro period.

Rewards system in a nutshell

Spending $15,000 on qualifying purchases within the first 3 months will earn you 120,000 reward points. For flights and prepaid hotels that you book through amextravel.com, you get 5 reward points per dollar. All other qualifying purchases earn 1 point per dollar. However, you receive 1.5 points (50% extra) for each dollar spent on qualifying business purchases (including construction material and hardware, electronic goods, shipping, software, and cloud system) and purchases of $5,000 or more, up to a maximum of 2 million dollars spent in a year.

The Business Platinum CardĀ® from American Express offers several redemption options, including transferring points to partner loyalty programs. You are likely to get the best value with this redemption option. The card has 15+ airlines (including Aer Lingus, British Airways, and Emirates) and three hotel loyalty program partners (Marriott Bonvoy, Hilton Honors, and Choice Privileges).

Cardholders can also redeem points for 1 cent per point by buying airfare through American Express Travel. Even better, booking a business or first class on any airline or any cabin on your selected airline through American Express Travel Pay with Points will get you 35% of those points back. In a calendar year, you can get up to a maximum of 1,000,000 points back using this redemption option.

icon-info

So, if you book a $2,000 ticket for 200,000 points, youā€™ll get 70,000 points back. That means, in effect, the airfare will cost you 130,000 points. Thatā€™s a value of approximately 1.54 cents per point.

You can also redeem points for upgrading flights, paying NYC taxis, booking Fine Hotels & Resorts, buying gift cards. Each option redeems your points for up to 1 cent per point.

Additionally, you can pay with points at Amex Express Checkout, Dell.com, Amazon, Best Buy, Walmart, JustGiving, Grubhub, Newegg, Rite Aid, PayPal, Boxed, Seamless, or Saks Fifth Avenue. At all these places, youā€™ll get 0.7 cents in value per point. You can use reward points to pay for tickets through Ticketmaster at 0.5 cents per point.

Lastly, you can cover your card charges with Amex points, reserve prepaid hotels, or simply Shop with Points.

Who can benefit from getting the Business Platinum CardĀ® from American Express?

The Business Platinum CardĀ® from American Express is ideal for business owners who are frequent travelers, spend a lot, and can take full advantage of all (or most) of its travel and shopping benefits. The benefits and earning rates can easily justify its steep $695 annual fee for such a user.

For example, you enjoy access to the issuerā€™s collection of airport lounges and 5x earning on flights and hotels booked through Amex Travel. Plus, a 35% rebate is there for the taking if you book a first- or business-class ticket or any class ticket with your chosen airline using reward points (up to 1,000,000 points in a calendar year).

The Business Platinum CardĀ® from American Express allows issuing additional employee cards. To better manage the companyā€™s spending, the business owner can set a spending limit or receive alerts if an employee uses the credit card for not approved categories.

Are there any other benefits?

Yes, there are quite a few of them.

  • Airline Fee Credit: You receive up to $200 in reimbursements for incidental fees, like in-flight refreshments and checked bags, each year with the selected airline.
  • Multiple business-related statement credits: every year, you can get up to $400 credit for purchases with Dell, $179 credit for CLEAR, $150 for purchases with Adobe, $360 credit for Indeed, and $120 credit for wireless telephone service.
  • Hilton Honors Gold Status: You receive exclusive perks when you stay at a Hilton hotel. Benefits include 80% points earning bonus on stays, preferred rooms, milestone bonuses, and more.
  • Marriott Bonvoy Gold Elite Status: You get to enjoy the complimentary Marriott Bonvoy Gold Status as long as you have the American Express Business Platinum Credit CardĀ®. The list of perks includes preferred rates, complimentary in-room internet access, and more.
  • Fine Hotels + Resorts Program: You receive elite-like benefits when you book through the program. Benefits include noon check-in, guaranteed 4 pm late check-out, room upgrade (when available), complimentary Wi-Fi, and breakfast for two.
  • Trip Cancellation and Interruption Insurance: The Business Platinum CardĀ® from American Express offers coverage in the event of travel cancellation, interruption, or delay for round-trip tickets paid for entirely with it. If a trip gets canceled or interrupted, you can get up to $10,000 in reimbursement. The maximum benefit amount is capped at $20,000 per 12 consecutive months. In the event of a delay of six hours or longer, you can get up to $500 in reimbursements per trip for necessary expenses, such as meals, hotels, and other expenses.
  • TSA Pre-Check/Global Entry Credit: The Business Platinum CardĀ® from American Express offers a Global Entry or TSA Pre-Check credit up to $100 every four years or 4.5 years, depending on the program.
  • Car Rental Loss and Damage Insurance: As a cardholder, you can receive secondary protection if your rental vehicle gets stolen or damaged.
  • Baggage Insurance Plan: You receive protection if your baggage, whether checked or carry-on, is lost, damaged, or stolen. You must pay the entire fare with your Business Platinum CardĀ® from American Express to be eligible for coverage.
  • Purchase Protection: Covers eligible purchases from loss, theft, or damage for up to 90 days from the purchase date. The benefit is capped at $10,000 per occurrence and $50,000 per year.
  • Extended Warranty: Add up to one year to the original manufacturerā€™s warranty.
  • No Preset Spending Limit: The Business Platinum CardĀ® from American Express does not have a fixed spending limit. The amount you can spend depends on the credit card use history, which means the limit changes automatically.
  • QuickBooks connection: You can easily connect your Business Platinum CardĀ® from American Express to the QuickBooks account, which helps manage your company finances more efficiently.
  • Terms Apply.

Conclusion

If you frequently travel for business, generous rewards and perks available with this credit card could make it an attractive option despite its steep annual fee. Not a frequent traveler? Youā€™re likely to struggle to get your moneyā€™s worth from this credit card.

FAQ

What is the customer service phone number for the Business Platinum CardĀ® from American Express?

If you are located in the US, contact 1-800-801-6564. If you are located outside the US, you can dial 1-954-503-8868.

How to check my application status for the Business Platinum CardĀ® from American Express?

You can check the status of your American Express credit card application online or by calling 877-239-3491.

What is the material of the Business Platinum CardĀ® from American Express?

The material of the Business Platinum CardĀ® from American Express is stainless steel.
Hanna VolkavaHanna Volkava

Financial and product expert

hv@myfin.us
Another popular cards for you
Best for Cash Back, No Annual Fee, Daily use
4.49 out of 5
Recommended credit score
scorer
Good to Excellent (670-799)
  • None
    Annual Fee
  • 19.99% - 29.99%
    Regular APR
  • 1.5%
    Cash Back on every purchase.
  • 0% Introductory APR for the first 15 months that your account is open
    Purchase Intro APR
Learn more
on our partnerā€™s site