American Express Business Platinum Card® Review for 2023
This article is part of a larger series on Best Small Business Credit Cards.
Editor’s note: This is a recurring post with regularly updated card details.
The American Express Business Platinum Card® is designed for business owners who travel frequently and appreciate luxury travel perks, including access to more than 1,400 airport lounges worldwide. While it comes with a high annual fee of $695, cardholders can enjoy exclusive benefits and over $1,000 in special discounts for selected business tools. Keep in mind that balance transfers and cash advance transactions are not allowed.
If you wish to compare one card over another, simply choose a maximum of three cards on this page and click Add to compare to view the details in a side-by-side comparison.
The Business Platinum Card® from American Express
BEST FOR:
Gaining access to unrivaled travel rewards and luxury travel perks like airport lounge access
Intro APR
N/A
Regular APR
19.49% - 27.49% Variable
Annual Fee
$695
Credit Needed
Good, Excellent
- Welcome Offer: Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
- 5X Membership Rewards® points on flights and prepaid hotels on AmexTravel.com, and 1X points for each dollar you spend on eligible purchases.
- Earn 1.5X points (that’s an extra half point per dollar) on each eligible purchase at US construction material, hardware suppliers, electronic goods retailers, and software & 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.
- Unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
- $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year for incidental fees charged by your one selected, qualifying airline to your Card.
- $189 CLEAR® Plus Credit: Use your card and get up to $189 in statement credits per calendar year on your CLEAR® Plus Membership (subject to auto-renewal) when you use your Business Platinum Card®.
- The American Express Global Lounge Collection® can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market as of 03/2023.
- $695 Annual Fee.
- Terms Apply.
Pros
- Premium travel rewards
- Free access to more than 1,300 airport lounges worldwide
- No foreign transaction fees
Cons
- Balance is due in full monthly
- High annual fee
- American Express lounges: Free access to American Express’ network of Centurion lounges located in slightly less than a dozen United States airports.
- Other airport lounges: Priority Pass Select membership, which gets you free access to more than 1,300 lounges worldwide for you and two guests.
- Airport screening: Either a $100 statement credit for Global Entry every four years or an $85 statement credit for TSA PreCheck® once every 4 1/2 years.
- Travel credit: Up to $200 annual statement credit toward air travel expenses like baggage fees and inflight food and drink.
- Rental status: Elite status at a number of car rental agencies.
- Free Wi-Fi: 10 annual free Gogo inflight Wi-Fi passes.
- Rebate for redeemed points: 35% points rebate if you book a business or first-class flight, up to 500,000 bonus points per calendar year.
- Dell statement credit: Up to $400 in statement credits annually for Dell purchases.
Intro APR
N/A
Regular APR
19.49% - 27.49% Variable
Annual Fee
$695
Credit Needed
Good, Excellent
- Welcome Offer: Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
- 5X Membership Rewards® points on flights and prepaid hotels on AmexTravel.com, and 1X points for each dollar you spend on eligible purchases.
- Earn 1.5X points (that’s an extra half point per dollar) on each eligible purchase at US construction material, hardware suppliers, electronic goods retailers, and software & 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.
- Unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
- $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year for incidental fees charged by your one selected, qualifying airline to your Card.
- $189 CLEAR® Plus Credit: Use your card and get up to $189 in statement credits per calendar year on your CLEAR® Plus Membership (subject to auto-renewal) when you use your Business Platinum Card®.
- The American Express Global Lounge Collection® can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market as of 03/2023.
- $695 Annual Fee.
- Terms Apply.
Pros
- Premium travel rewards
- Free access to more than 1,300 airport lounges worldwide
- No foreign transaction fees
Cons
- Balance is due in full monthly
- High annual fee
- American Express lounges: Free access to American Express’ network of Centurion lounges located in slightly less than a dozen United States airports.
- Other airport lounges: Priority Pass Select membership, which gets you free access to more than 1,300 lounges worldwide for you and two guests.
- Airport screening: Either a $100 statement credit for Global Entry every four years or an $85 statement credit for TSA PreCheck® once every 4 1/2 years.
- Travel credit: Up to $200 annual statement credit toward air travel expenses like baggage fees and inflight food and drink.
- Rental status: Elite status at a number of car rental agencies.
- Free Wi-Fi: 10 annual free Gogo inflight Wi-Fi passes.
- Rebate for redeemed points: 35% points rebate if you book a business or first-class flight, up to 500,000 bonus points per calendar year.
- Dell statement credit: Up to $400 in statement credits annually for Dell purchases.
When grading travel rewards business credit cards like the American Express Business Platinum Card®, we first consider the ongoing and introductory rewards. We also take into account the travel perks offered, annual fee, introductory and ongoing annual percentage rates (APRs), and other fees.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 25 | 25 |
Introductory Rewards | 25 | 25 |
Features | 10 | 10 |
Annual Fee | 3 | 10 |
Other Fees | 8 | 10 |
Introductory APR | 0 | 10 |
Ongoing APR | 5 | 10 |
Total Score | 76 | 100 |
Who the American Express Business Platinum Card® Is Best For
- Business owners who travel frequently: It offers premium rewards points on travel and hotel bookings.
- Business owners who need luxury travel perks: You can enjoy travel perks like airport lounge access, airline fee credits, and upgraded status for Marriott BonvoyTM and Hilton Honors.
- Business owners who can pay their monthly balances in full: Unless you’re eligible for the Pay Over Time feature, you must pay your balance in full each billing cycle.
American Express Business Platinum Card® is our top business credit card with airport lounge access. If this card is not right for you, check out our recommended alternatives below to find a more suitable option.
American Express Business Platinum Card® Rewards
- 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases within the first three months after opening an account
- 5x Membership Rewards® points on flights and prepaid hotels booked through amextravel.com
- 1.5x Membership Rewards® points per dollar for eligible purchases in key business categories, including:
- U.S. construction material and hardware suppliers
- Electronic goods retailers
- Software and cloud system providers
- Shipping providers
- 1.5x Membership Rewards® points per dollar on every purchase of $5,000 or more everywhere else (on up to $2 million of these purchases per calendar year)
- 1x Membership Rewards® point on all other eligible purchases
American Express Business Platinum Card® Rewards Calculator
Use our rewards calculator below to figure how much you can earn from American Express Business Platinum Card®. You can calculate your potential rewards based on your projected annual expenses—just enter your expected expenditures, and our calculator will do the rest.
The value of American Express Membership Rewards® points ranges from $0.005 to $0.01 per point, depending on how they are redeemed. For this calculator, we compute points rewards based on the minimum value of $0.005.
How To Redeem American Express Business Platinum Card® Rewards
To redeem your points, visit American Express’s website, choose your preferred rewards from the redemption options (listed below), and then follow the prompts to complete your redemption. Alternatively, you may call (888) 721-1046.
The value of points varies based on how they are redeemed. Typically, points are worth around half a cent to one cent each.
You can redeem your points as a statement credit—you need at least 1,000 points in your account so that you can apply them to pay for charges on your credit card statement. You can use your points at checkout to pay for purchases made with American Express Travel, Amazon.com, Ticketmaster, Best Buy, and other retailers.
You can also redeem your rewards for gift cards from different merchants or transfer points to American Express partner loyalty programs, such as those offered by airlines and hotels.
American Express Business Platinum Card® Additional Features
- The Global Lounge Collection: Access more than 1,400 airport lounges across 140 countries.
- Airline fee credit: Receive up to $200 airline fee credit per year for baggage and other expenses on your selected qualifying airline.
- CLEAR® Plus credit: Pay your CLEAR Plus membership using the card and receive up to $189 in statement credits per year.
- Airline bonus: Use the Pay With Points feature for all or part of a First or Business class flight booked with American Express Travel and receive 35% points back, up to 1 million bonus points back per calendar year.
- Fine Hotels + Resorts® program: Receive an average total value of $600 in perks with Fine Hotels + Resorts®.
- Global Entry or TSA PreCheck®: Receive a statement credit every four years after you apply for Global Entry ($100) or every four-and-a-half years after you apply for TSA PreCheck® ($85).
- Marriott BonvoyTM Gold Elite Status: Upgrade to Marriott BonvoyTM Gold Elite status automatically without meeting any stay requirements.
- Hilton Honors Gold Status: Become an automatic Hilton Honors Gold Status member, enjoy benefits at hotels and resorts within the Hilton Portfolio, and earn reward stays with Hilton Honors Bonus Points.
- Dell Technologies: Get up to $400 statement credit per year when you use your card to purchase Dell Technologies.
- Indeed: Receive up to $360 in statement credits per year for purchases with Indeed using your card.
- Adobe Creative Solutions: Enjoy up to $150 in statement credits per year for eligible annual prepaid business plan purchases with Adobe on Creative Cloud for teams or Acrobat Pro DC with e-sign for teams.
- Wireless Credit: Take advantage of up to $120 credits per year for wireless telephone services purchased directly with a United States wireless provider.
- Account management tools: Take advantage of the account management tools available with your card, including mobile device apps, desktop programs, and QuickBooks integration. They can help enhance your cash flow operations and let you manage your cards from your desktop and mobile devices.
- Year-end summary: Receive online year-end summaries and view your purchases made from January 1 to December 31 of the prior year.
- Vendor pay by BILL: Take advantage of the waived monthly fee for the first user with the Basic plan—the second user can use the system for free for the first six months, then a fee of $15 per month will be charged. Learn more about the billing and invoicing solution through our review of BILL.
- Car rental loss and damage insurance: Receive car rental loss and damage insurance of up to $50,000 per rental agreement for the first 30 days of a vehicle rental.
- Purchase protection: Get reimbursed for items purchased using the card in case they’re damaged or stolen within 90 days of the date of purchase, up to $10,000 per claim and $50,000 per card member per year.
- Extended warranty protection: Receive extended warranty for one additional year, which applies to items with original manufacturer warranties of five years or less.
- Baggage insurance plan: Get protected with baggage insurance for lost, damaged, or stolen baggage—receive up to $2,000 for checked baggage and up to a combined maximum of $3,000 for checked and carry-on baggage.
- Trip delay insurance: Get covered if your trip is delayed for more than 6 hours if you purchase a round-trip entirely using your card.
- Trip cancellation and interruption insurance: Purchase your round-trip entirely using your card and get covered when your trip is canceled or interrupted due to an eligible reason.
- Cellphone protection: Get reimbursed for the repair or replacement costs of your mobile device following damage or theft for a maximum of $800 per claim, with a limit of two approved claims per 12-month period. To be eligible, your cell phone line should be listed on a wireless bill, and the prior month’s wireless bill should’ve been paid by your American Express credit card. Note that a $50 deductible will apply to each approved claim.
American Express Business Platinum Card® Fees
APR
- Introductory: None
- Ongoing: 19.49% to 27.49% variable, which adjusts based on Prime Rate (this only applies to purchases eligible for the Pay Over Time feature)
- Penalty: 29.99% variable, which adjusts based on prime rate—will be applied to your account if you do one of the following:
- Make two or more late payments within a 12-month period
- Don’t pay the minimum payment due by the closing date of the billing period and still don’t pay it by the closing date of the next billing period
- Make a returned payment
Fees
- Annual: $695
- Balance transfer: Transfers not allowed
- Foreign transaction: None
- Cash advance: Cash advances not allowed
- Late payment: $39 or 2.99% of any past due pay in full amount, whichever is greater
- Returned payment: $39
- Direct bank payment: Pay your bills automatically via direct debits, so you don’t have to worry about missing due dates. Provide your bank account details to American Express and let them know the monthly amount you’d like to pay.
- AutoPay: Enroll in AutoPay through your American Express online account. Note that your first AutoPay payment may not be applied to your current billing cycle, and you would need to make your usual payments until your AutoPay begins.
- Online: Make a payment through your American Express online account anytime. Simply choose your payment account and select your bank account and payment date. Note that credit cards and debit cards cannot be accepted as a form of payment.
- Mobile app: Download the Amex Mobile App and enjoy the convenience of paying your bills on the go, anytime.
- Mail: Mail your payment either by check or money order made payable to American Express. Ensure to include your account number at the front of your payment.
Class Mail
American Express
PO Box 650448
Dallas, TX 75265-0448
Express Mail
American Express
Attn: Express Mail Remittance Processing
20500 Belshaw Ave.
Carson, CA 90746
When To Consider American Express Business Platinum Card® Alternatives
You Don’t Want to Pay a High Annual Fee
The American Express Business Platinum Card® charges a high annual fee at $695, which can greatly add up over the years. If you travel frequently and don’t want to pay a high annual fee, you should consider another business travel credit card, like the Chase Ink Business Preferred®.
- Charges a low annual fee and has no international transaction fee
- Offers 3x points on the first $150,000 spent in combined purchases in four categories—including travel, shipping purchases, advertising, and internet, cable, and phone services
- Lets you earn 100,000 bonus points after spending only $8,000 in the first three months of opening an account—this is almost half the spending requirement of American Express Business Platinum Card®
- Offers 25% more points value when redeemed for travel
You can redeem your points for cash back, gift cards, travel, and merchandise through Chase Ultimate Rewards®. It is our leading business credit card for travel due to its generous rewards.
You Don’t Need Premium Travel Perks
If you want to earn travel rewards but don’t need premium travel perks like what’s being offered by American Express Business Platinum Card®, you may benefit more from a fixed-rate rewards card that doesn’t charge an annual fee and offers other ways to save money. Our recommendation is the Bank of America® Business Advantage Travel Rewards World Mastercard®.
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
BEST FOR:
Earning top rewards on travel purchases booked through Bank of America Travel Center
Intro APR
0%
9 billing cycles
9 billing cycles
Regular APR
18.49% - 28.49% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Earn 30,000 online bonus points after you make at least $3,000 in purchases in the first 90 days of your account opening which can be redeemed for a $300 statement credit towards travel or dining purchases.
- Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time-no matter how much you spend.
- No limit to the amount of points you can earn and points don't expire.
- You can earn up to 75% more points on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to an unlimited 2.62 points per $1 spent on all purchases.
- No annual fee and no international transaction fees.
- Choose how to redeem points for a statement credit to offset travel and dining purchases, travel with no blackout dates at the Bank of America® Travel Center, for cash back or gift cards.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 18.49% to 28.49% will apply.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.
Pros
- No annual fee: By not having to pay an annual fee, you can reduce your overall credit card cost while earning unlimited rewards on your expenses.
- No blackout dates on travel: You can redeem your points for travel or travel credits through the Bank of America® Travel Center anytime, with no blackout dates.
- 3x points on travel: You can earn 3x points for every dollar spent when you book your travel (car, hotel, or airline) through the Bank of America® Travel Center.
- Welcome bonus points: If you can spend $3,000 in net purchases within 90 days of opening an account, you will earn 30,000 bonus points.
Cons
- Low ongoing rewards on nontravel: While you can earn high rewards points on travel, you can only earn 1.5x points on all other purchases.
- Short 0% APR introductory period: This is a disadvantage if you need a longer 0% APR period.
- No 0% APR on balance transfers: The introductory APR only applies to purchases
- Bank of America doesn’t disclose details of its additional card features. To find out more about these additional features, review your guide to benefits when you receive your card in the mail.
Intro APR
0%
9 billing cycles
9 billing cycles
Regular APR
18.49% - 28.49% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Earn 30,000 online bonus points after you make at least $3,000 in purchases in the first 90 days of your account opening which can be redeemed for a $300 statement credit towards travel or dining purchases.
- Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time-no matter how much you spend.
- No limit to the amount of points you can earn and points don't expire.
- You can earn up to 75% more points on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to an unlimited 2.62 points per $1 spent on all purchases.
- No annual fee and no international transaction fees.
- Choose how to redeem points for a statement credit to offset travel and dining purchases, travel with no blackout dates at the Bank of America® Travel Center, for cash back or gift cards.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 18.49% to 28.49% will apply.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.
Pros
- No annual fee: By not having to pay an annual fee, you can reduce your overall credit card cost while earning unlimited rewards on your expenses.
- No blackout dates on travel: You can redeem your points for travel or travel credits through the Bank of America® Travel Center anytime, with no blackout dates.
- 3x points on travel: You can earn 3x points for every dollar spent when you book your travel (car, hotel, or airline) through the Bank of America® Travel Center.
- Welcome bonus points: If you can spend $3,000 in net purchases within 90 days of opening an account, you will earn 30,000 bonus points.
Cons
- Low ongoing rewards on nontravel: While you can earn high rewards points on travel, you can only earn 1.5x points on all other purchases.
- Short 0% APR introductory period: This is a disadvantage if you need a longer 0% APR period.
- No 0% APR on balance transfers: The introductory APR only applies to purchases
- Bank of America doesn’t disclose details of its additional card features. To find out more about these additional features, review your guide to benefits when you receive your card in the mail.
- Charges no annual fee and no foreign transaction fees
- Comes with 0% APR on purchases for nine billing cycles
- Offers 30,000 bonus points when you make at least $3,000 in net purchases within three months of opening an account, which can be redeemed for $300 statement credit toward travel purchases
- Lets you earn unlimited 1.5x points per dollar spent on all purchases
Rewards are worth 75% more if you have a business checking account with Bank of America (read our review of Bank of America business checking) and qualify for the Preferred Rewards for Business program. It is our leading business credit card with no foreign transaction fee.
You Check Bags Often
While American Express Business Platinum Card® provides up to $200 airline fee credit, including for checked baggage fees, the card does not offer free checked bags. If you often need to check bags, you may find the Southwest Rapid Rewards® Premier Business Credit Card more beneficial.
- Lets you check your first and second bags for free
- Offers up to 120,000 bonus points when you meet the spending requirements within the first nine months of card ownership
- Lets you earn up to 3x points per dollar on Southwest Airlines purchases
- Provides two complimentary early bird check-in per year
- Offers $500 fee credit for points transfers per year
- Charges no foreign transaction fees and a low annual fee
This card is best for those who prefer to fly Southwest Airlines. You can redeem your points for any Southwest Airlines flight, and the number of points needed varies depending on your origin and destination.
Frequently Asked Questions (FAQs)
You can redeem your points rewards for travel by booking your travel through amextravel.com. You can also transfer your points to participating frequent flyer or hotel loyalty programs. On top of that, you can redeem your points for gift cards from more than 100 restaurants, retailers, and travel partners. Plus, you can use your points to cover the travel expenses you already charged on your card.
The Pay Over Time option is a feature that lets you carry a balance with interest on eligible purchases. You will have a Pay Over Time limit, which determines how much charges you can carry to the next billing cycle. Balances that are excluded from Pay Over Time should be paid in full.
The American Express Business Platinum Card has no preset spending limit, which means your spending limit is flexible. The amount you can spend adapts based on your purchase history, payment behaviors, and credit score.
Bottom Line
The American Express Business Platinum Card® is optimal for business owners who travel frequently and enjoy premium travel rewards and perks. These perks justify the high annual fee of $695. However, note that balance transfers and cash advance transactions are not allowed. If this card is not right for your business, see our lists of the best small business credit cards and leading American Express business credit cards for additional options.