The Business Platinum Card® from American Express
BEST FOR
Gaining access to unrivaled travel rewards and luxury travel perks like airport lounge access
- Welcome Offer: Earn 100,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Platinum Card within the first 3 months of Card Membership.
- 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.
- Get 5X Membership Rewards® points on flights and prepaid hotels 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.
- PAY OVER TIME OPTION: A flexible payment option to help manage cash flow on purchases of $100 or more.
- Terms Apply.
Pros
- Free access to over 1,200 airport lounges worldwide
- Global Entry or TSA Pre✓® membership fee reimbursements
Cons
- Balance is due in full monthly
- Steep $595 annual fee
- American Express lounges: Free access to American Express’ network of Centurion lounges located in slightly less than one dozen U.S. airports.
- Other airport lounges: Priority Pass Select membership, which gets you free access to more than 1,000 lounges worldwide for you and two guests.
- Airport screening: Either a $100 statement credit for Global Entry every four years or $85 statement credit for TSA Pre✓® once every 4½ years.
- Travel credit: A $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 $200 in statement credits annually for Dell purchases.
The American Express Business Platinum Card® is an excellent business card designed for business owners who travel frequently. Cardholders can enjoy luxury travel perks, including access to more than 1,200 airport lounges worldwide. This small business card does not charge any interest because you are required to pay your balance in full every month.
Who American Express Business Platinum Card® Is Best For
- Owners who are frequent travelers: The American Express Business Platinum Card® offers premium rewards points on travel and hotel bookings and other travel perks like airport lounge access and airline fee credit on qualifying incidental purchases.
How We Evaluate Points Rewards Business Credit Cards
When grading points rewards business credit cards like the American Express Business Platinum Card®, we weigh ongoing and introductory rewards the heaviest. We also consider the annual fee, introductory and ongoing annual percentage rates (APRs), and other card benefits.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 30 | 30 |
Introductory Rewards | 20 | 20 |
Annual Fee | 15 | 15 |
Features | 15 | 15 |
Introductory APR | 10 | 10 |
Ongoing APR | 5 | 10 |
Total Score | 95 | 100 |
American Express Business Platinum Card® Fees
- Introductory APR: None
- Ongoing APR: Needs to be paid in full monthly. However, if you use the Pay Over Time feature, the APR is 18.24%, which varies based on the prime rate. The penalty APR for Pay Over Time balances is currently 29.24% variable. The variable penalty APR will not exceed 29.99%.
- Annual fee: $595
- Balance transfer fee: Transfers are not allowed
- Foreign transaction fee: None
- Cash advance fee: Cash advances are not allowed
American Express Business Platinum Card® Rewards
- 5x membership rewards points on flights and prepaid hotels on amextravel.com
- 1.5x membership rewards points per dollar for eligible purchase transactions of $5,000 or more
- 1x points on all other purchases.
- 3.5 extra points for every 10 points you redeem for travel through American Express Travel (that’s 35% of your points back), up to 500,000 bonus points per year.
- $200 airline fee credit per calendar year for baggage fees and other eligible incidental expenses with a qualifying airline you choose.
- $200 statement credit on purchases with Dell. You can get up to $100 in statement credits every six months, for a total of $200 in credits every year.
Welcome offer: Welcome Offer: Earn 100,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Platinum Card within the first 3 months of Card Membership.
To 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 also redeem your points for gift cards through amexgiftcard.com or use them on your Amazon purchases. You can also redeem for select taxi fares and tips in New York City.
You can redeem a minimum of 5,000 points to book travel on American Express Travel and receive 35% of your points back. You are also allowed to transfer points to another frequent flyer program for a fee of 0.0006 cents per point, with a maximum fee of $99. Furthermore, if you have a minimum of 2,000 points, you can use them to purchase event tickets on Ticketmaster or AXS.
American Express Business Platinum Card® Features
Premium Roadside Assistance
Your American Express Business Platinum Card® gives you access to premium roadside assistance for up to four times per year at no additional charge. Available services include going up to 10 miles, winching, jumping your car, tire change if there is a spare, gas delivery up to two gallons, and lockout services. Some vehicles and services are not covered, including rental vehicles, taxis, unlicensed vehicles, and tractors and trucks weighing more than 10,000 pounds.
Purchase Protection
Purchased items that are damaged or stolen within 120 days of purchase―90 days for New York residents―are covered with purchase protection. American Express will reimburse the amount charged to your card, up to $10,000 per claim and $50,000 per cardmember each year. Purchase protection does not cover certain items such as motorized vehicles, medical equipment, rented items, permanent fixtures, animals, living plants, and consumables.
Return Protection
If you try to return an eligible item within 90 days from your purchase date and a store won’t take it back, American Express may refund the purchase price up to $300 per item and $1,000 per cardmember account every year. Items are eligible if they are in the original condition you bought them in, and they can’t be returned to the original store. Motorized vehicles, personal hygiene items, tickets, computer software, jewelry, books, and perishable items are not covered by this protection.
Extended Warranty Protection
The American Express Business Platinum Card® offers extended warranties on items with an original manufacturer’s warranty of five years or less. American Express will either match warranties that are less than two years or provide two extra years if the original warranty is between two and five years.
Travel Accident Insurance
Travel accident insurance up to $500,000 is available if you die or lose a limb, sight, speech, or hearing in regard to any travel fares that were paid for entirely using your American Express Business Platinum Card®. Self-inflicted injuries, certain ailments, and physical or mental infirmity are not included in the coverage.
Baggage Insurance Plan
The American Express Business Platinum Card® provides coverage between $1,000 and $3,000 for any lost bags while in transit, carry-on baggage, checked baggage, high-risk items, or both carry-on and checked baggage. High-risk items, such as jewelry, sporting equipment, and electronic equipment, are also included with the coverage. However, cash, tickets, prosthetics, documents, animals, and living plants are excluded.
Car Rental Loss & Damage Insurance
If you use your American Express Business Platinum Card® for a car rental, you are covered up to $75,000 per car rental agreement during the rental period. Vehicles rented from a car rental company within the first 30 days are eligible. Intentional damage by an authorized driver, manufacturing defects, confiscation by authority, theft of or damage to tires and to rental vehicles that are unlocked or not secured are not included with the coverage.
Account Management Tools
Account management tools, such as mobile device apps, desktop programs, and QuickBooks integration, are available to enhance your cash flow operations. These tools offer the ability to manage your cards from your desktop and mobile devices. Employees can also upload photos of their receipts to make for easier expense reporting.
Global Entry or TSA Pre✓®
American Express Business Platinum Card® lets you 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 Pre✓® ($85). If you’re approved for TSA Pre✓®, you will get expedited screening at participating airports. If you’re approved for Global Entry, you will also receive access to TSA Pre✓® at no additional charge.
Delta Sky Club
American Express Business Platinum Card® gives cardholders access to airport Delta Sky Clubs. You must be at least 18 years old to access a Delta Sky Club and 21 years old to access locations that have a self-service bar. To enter a Delta Sky Club, you must present a valid American Express card, your government ID, and your airline ticket for that day. In comparison, the Delta SkyMiles® Reserve Business American Express Card offers complimentary access to Delta Sky Clubs.
Gogo Preferred Program
Each American Express Business Platinum Card® is eligible for up to 10 complimentary single flight passes for Gogo inflight internet each year. A single flight is defined as one takeoff and landing on the same aircraft, with the same flight number, between two cities. To be eligible for this program, your card must be issued in the United States and must be currently active. This feature is unique to American Express and the American Express Business Platinum Card®.
American Express Business Platinum Card® Alternatives
Chase Ink Business Preferred®
Ink Business Preferred® Credit Card
BEST FOR
Maximizing travel rewards at a lower annual fee
- New Offer! Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That's $1,250 toward travel when redeemed through Chase Ultimate Rewards®
- Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
- Earn 1 point per $1 on all other purchases - with no limit to the amount you can earn
- Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
- Redeem points for travel, cash back, gift cards and more - your points don't expire as long as your account is open
- No foreign transaction fees
- Employee cards at no additional cost
- $95 Annual Fee
Note: The information related to the Chase Ink Business Preferred® Credit Card has been collected by fitsmallbusiness.com and has not been reviewed or provided by the issuer of this card.
Pros
- Opportunity to boost the value of reward points
- Offers cellphone protection and trip cancellation insurance
Cons
- Does not offer an interest-free financing period
- Charges an annual fee
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the U.S. and abroad.
- Cellphone protection: You and the employees named on the phone bill you pay for with your card are covered for up to $600 in theft or damages per claim. You are limited to three claims per 12-month period, with a $100 deductible per claim.
- Trip cancellation and delay insurance: If your trip is canceled, you can be compensated up to $15,000 for prepaid expenses such as airfare or hotels. If your trip is delayed for 12 hours or more, you can be reimbursed up to $500 for your hotel room, meals, and transportation.
U.S. Bank Business Select Rewards Card
U.S. Bank Business Select Rewards Card
BEST FOR
Earning points rewards in your choice in category spending
- Earn 20,000 bonus points after you spend $1000 in eligible net purchases during the first 90 days after opening your account
- Earn 3 points per dollar on eligible net purchases in one category of your choice: Day-to-Day Expenses, Automobile or Travel & Entertainment
- Earn 1 point per dollar on other eligible net purchases
- No cap on total points you can earn
- No annual fee*
- Net purchases are purchases minus credits and returns
- Variable APR currently at 11.99% - 22.99%* Variable
Pros
- Bonus category rewards on everyday business expenses
- Interest-free financing period
- Sign-up bonus offer
Cons
- Earns top rate in only one spending category
- Rewards expire after five years
- Points are non-transferrable
- Card Auto Rental Collision Damage Waiver: Waive the rental car merchant’s insurance and you’ll be covered in the event the rental vehicle is damaged or stolen, up to the vehicle’s value.
- Purchase Protection: U.S. Bank will repair or reimburse you for items that were damaged or stolen within 90 days of purchase.
- Extended Warranty Protection: Get double the warranty protection on manufacturer’s warranties of three years or less.
- Travel and Emergency Services: Access to 24-hour emergency, medical, travel, and legal assistance.
Capital One® Spark® Miles for Business
Capital One® Spark® Miles for Business
BEST FOR
Unlimited 2x miles with every swipe
- Introductory reward worth $500 in travel after you spend $4,500 within the first three months
- 2x miles per $1 spent
- 5x miles on hotel and rental car bookings through the issuer
- Issue employee cards for free
Pros
- No foreign transaction fees
- TSA Pre✓® or Global Entry application fee credit
Cons
- You’ll pay an annual fee after the first year
- Doesn’t offer interest-free financing
- Airport security screening reimbursement: Either a $100 statement credit for Global Entry or an $85 statement credit for TSA Pre✓® once every four years.
- Purchase assurance: Most purchases made entirely with your card are covered if damaged or stolen within 90 days from the date of purchase. Coverage is limited to $10,000 per claim and $50,000 per cardholder account per 12 month period.
- Extended warranty coverage: Doubles the original warranty time period and duplicates the coverage of the original manufacturer’s warranty up to a maximum of 12 months on most items you purchase.
- Travel medical emergency assitance: Provide referrals to medical services if you have a medical emergency while traveling. You’re covered if you’re 100 or more miles away from home and from the day you leave until midnight of the 60th day of your trip, or the day you return to your city of residence, whichever is sooner.
Bottom Line
The American Express Business Platinum Card® is best for business owners who charge all their monthly business expenses to their cards and have the ability to pay their balance in full every month. This business card offers premium travel rewards and perks ideal for business owners who need to travel frequently. If you think this card is not what you’re looking for, review other top card options.
Trevelino Keller
Cost to manage compared to other service providers.