American Express Business Platinum Credit Card Review

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From Seek Capital - Best for Travel

Welcome Offer

Earn 75,000 Membership Rewards® points

Earn 75,000 Membership Rewards® points after you spend $15,000 on qualifying purchases within your first 3 months of Card Membership.

Earn

5xPoints
Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com.
50%More Points
Get 50% more Membership Rewards® points.
35%Airline Bonus
35% Airline Bonus: Use Membership Rewards® Pay with Points for all
$200Statement Credits
Enroll to get up to $200 in statement credits annually by getting up to $100 semi-annually for U.S. purchases with Dell.

American Express Platinum for Business

If you have this credit card for your business, you know that you have made it. This is the standard. The king among cards.

With the American Express Business Platinum card, you can get $1,425 worth of airfare or hotel rooms with the sign-up bonus, $3,000 or more in yearly rewards if you keep using the card, a $200 airport fee credit, access to some of the best airport lounges in the world, all by earning rewards on your business purchases.

That’s $4,625 or more in value from this card in the first year if you know how to put it to work.

This is unbelievable and if you use this card properly can take your business to a whole new level of success. Here is exactly how you do it.

Rewards Highlights

  • Earn 75,000 Membership Rewards® points after you spend $15,000 on qualifying purchases within your first 3 months of Card Membership.
  • Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com.
  • Get 50% more Membership Rewards® points. That's an extra half point per dollar, on each eligible purchase of $5,000 or more. You can get up to 1 million additional points per year.
  • 35% Airline Bonus: Use Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline, and you can get 35% of the points back, up to 500,000 bonus points per calendar year when you book on amextravel.com.
  • Enroll to get up to $200 in statement credits annually by getting up to $100 semi-annually for U.S. purchases with Dell. Terms apply.
  • Terms Apply

Expert Review

The Pros

  • Earn 75,000 Membership Rewards® points after you spend $15,000 on qualifying purchases within your first 3 months of Card Membership.

Recommended Credit Profile

Rates & Fees

  • Annual Fee$595
  • Great ForAirlinesHotelsShopping
  • Foreign Transaction FeeNone

Fantastic Sign-Up Bonus

The people at American Express know that racking up rewards quickly is important to someone looking for a business and travel card, and they’ve made sure the Business Platinum card delivers. If you put this card to work right away, you can earn up to 75,000 Membership Rewards points — or a $1,425 value. If you spend $15,000 on qualifying purchases within your first 3 months of Card Membership, you automatically get 75,000 points.

Fifthteen thousand in three months may sound like a lot, but for the average business owner it’s easily done. Let’s take the $20,000 and break it down by month, which is about $6,667. So how do you make it work? Let’s look at a hypothetical to check it out. Assume your monthly spending looks something like this:

  • Business utilities: $2,000
  • Internet and phone expenses: $600
  • Advertising: $1,000
  • Client lunches: $800
  • Supplies and incidentals: $550
The American Express Business Platinum card is all about travel perks, so let’s say you also take one business trip a month that breaks down as:
  • Round-trip flight: $750
  • Hotel: $750
  • Rental car: $300

All of that adds up to $6,750. Do that for three months, and you’ve easily earned the full 75,000 points in the sign-up offer for things you’re already spending money on anyway. You can get there even faster by using the Business Platinum card to fund a big-ticket purchase, such as new furniture or computers for the office.

Rack Up Points Quickly

The American Express Business Platinum card is a little different from your normal credit card. Instead of making payments on the balance over a course of a few months, the balance on the card is expected to be paid in full each month. And that means that this card has to offer some serious rewards. Luckily, it does.

While you can earn points on nearly all your business purchases, the best payoff for your spending dollar is on prepaid flights and hotels. If you use this card to pay for your flight and travel accommodations through Amextravel.com, you earn a huge five points per dollar. You also get 1.5 points for every dollar spent on other eligible business purchases that total at least $5,000 and 1 point per dollar for purchases under $5,000. This means a $6,000 custom executive desk for the office nets you 9,000 points, but a $4,000 option only gets you 4,000. There is a limit on how many points you can earn every year, but it’s set at a cool 1 million, so there’s plenty of earning potential here.

To see how this pans out, let’s use our example from above plus assume you bought the $6,000 desk. So you would get all these points:

  • Business utilities: $2,000 = 2,000 points
  • Internet and phone expenses: $600 = 600 points
  • Advertising: $1,000 = 1,000 points
  • Client lunches: $800 = 800 points
  • Supplies and incidentals: $550 = 550 points
  • Round-trip flight: $750 = 3,750 points
  • Hotel: $750 = 3,750 points
  • Rental car: $300 = 300 points
  • Desk: $6,000 = 9,000 points

That’s 21,750 in points for that month!

You’re probably not going to buy pricey executive office furniture every month, but if you spend on everything else at a fairly consistent rate for the other 11 months, that’s a total of 162,000 points for the year. That’s a value of $3,078 in travel rewards!

Redeem for Big Rewards

Now that you have all those points, what are you going to do with them? With the American Express Business Platinum card, you’ll get the most value for your points if you use them to pay for your flight. When you use your Membership Rewards points to book your flight on a qualifying airline, you get 35 percent of the points back. That means for every 1,000 points you redeem on a qualifying flight, you’ll get 350 back, helping you get to your next reward even faster. You can use this perk to get up to 500,000 points back annually.

You can also use your points to:

  • Pay online at stores like Amazon and Staples
  • Buy gift cards
  • Get a statement credit

You can even transfer your points to a participating loyalty program like Delta Air Lines and Hilton Honors.

Plenty of Perks

The American Express Business Platinum card already offers a lot of value for business owners, but the travel perks take it to another level. Here are just a few of the bonuses you get as a cardholder:

  • $200 airline fee credit. Every year you can get up to $200 back as a statement credit if you’ve charged any incidental fees — think in-flight food and drinks and checked bags.
  • Access to the American Express Global Lounge Collection. This gets you into some of the most exclusive and comfortable airport lounges around the world and is easily a couple hundred-dollar value. This perk is absolutely amazing. It includes the Centurion Lounge, Interntional American Express Lounges, Delta SkyClub's and Escape Lounges. It does not matter what airport you are flying through. American Express provides an amazing lounge experience for you. These lounges come with free WIFI and food. When you are travelling for business, what more do you want? You can kick back and work while you are served amazing food. And if you are entertaining, forget about it. When you are travelling with someone for business, just whip out this card and go into the lounge. You are sure to impress whoever you are travelling with. There are also meeting rooms so you can actually hold official meetings at the airport.
  • Complimentary services and upgrades via the Fine Hotels & Resorts program. This reward can literally be worth thousands of dollars on a trip. Imagine if you are going to Los Angeles for business and staying at the Fairmont hotel in Santa Monica. The room is going to cost you $350 per night and you are staying for 7 days. You arrive at the Fairmont and pull out your American Express credit card. The Fairmont upgrades you to a bungalow that costs $1,350 per night. In this situation, just for having this credit card in your wallet, you would be getting $7,000 worth of free hotel room upgrades just for this one trip to Los Angeles. These bungalows are on a whole new level. You do not need to be rich to travel like a king. That is one of the best advantages of this credit card. It makes you a king, regardless of how much money you are spending.
  • Access to a travel counselor who can help you create the perfect itinerary for your trip. With this credit card you do not need to waste your time combing through Expedia or Orbitz trying to find the cheapest flights and hotels. Just call AMEX concierge service and you will have an expert helping you book every part of your next business trip. This benefit is no joke. Traditionally, travel agents like this could cost you up to 10% of the cost of your trip. So, if you are going to NYC for business and going to spend $5,000, in order to get this type of support from a travel agent, it would cost you at least $500. AMEX has solved this problem for all of its platinum members by providing the ultimate concierge service for absolutely no extra money or cost to you.

How Much Does It Cost

One of the best things about this card is you still get a little extra time between swiping and actually having to pay the bill, but there’s no interest since you’re paying the balance off every month. It also doesn’t have any foreign transaction fees, which we think is an absolute must for a workhorse card. This way, you won’t be paying the usual 3 to 5 percent just for swiping your card outside of the United States, whether it’s for travel or just an online order.

The American Express Business Platinum card does come with a $450 annual fee, but as long as you’re using it appropriately, your rewards should cover the expense and then some. The $200 airline fee credit takes care of almost half of the annual fee every year, so as long as you’re using this card as your regular swiper and taking advantage of the 5x points on flight and hotel purchases at least a few time a year, it’s like getting paid to swipe. This card will take your business to a whole new level!

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