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The Business Platinum Card® from American Express Review
Updated: December 19, 2024
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The Business Platinum Card® from American Express
On Issuer's Site
Rewards Summary
Earn 1X – 5X pointsEarn 5X Membership Rewards® points on flights and prepaid hotels on AmexTravel.com, 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, on up to $2 million per Card Account per calendar year. Purchases eligible for multiple additional point bonuses will only receive the highest eligible bonus. And 1X points for each dollar you spend on eligible purchases.
APR
18.49%-27.49% variableAnnual Fee
$695Recommended Credit
670-850 (Good to Excellent)Moneygeek.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
The Business Platinum Card® from American Express is a powerhouse for discerning business owners. Its attractive welcome offer provides an auspicious beginning, especially for businesses with sizable upfront expenses. However, the rich rewards across key spending areas set this card apart, turning every purchase into a strategic advantage. The card also boasts an array of statement credits for varied business essentials, elevating operational value. Travel enthusiasts will find its travel-related benefits unparalleled, blending luxury with reassurance. Despite its premium annual fee, its myriad rewards and benefits position this card as a compelling proposition for businesses that spend robustly.
The Business Platinum Card® from American Express Overview
When selecting a credit card, meticulously evaluating its features is paramount to ensuring it aligns with individual financial and lifestyle needs, because every card brings a unique blend of benefits and potential drawbacks.
- Rewards rate: Earn 5X Membership Rewards® points on flights and prepaid hotels on AmexTravel.com, 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, on up to $2 million per Card Account per calendar year. Purchases eligible for multiple additional point bonuses will only receive the highest eligible bonus. And 1X points for each dollar you spend on eligible purchases.
- Welcome offer: Earn 150,000 points if you spend $20,000 in the first three months
- Regular APR: 18.49% - 27.49% variable See rates and fees.
- Annual fee: $695 See rates and fees.
- Intro APR offer: None
- Terms Apply
- See rates and fees.
Important Card Details
Navigating the maze of business expenditures while optimizing for rewards and savings can be a multifaceted challenge. The Business Platinum Card® from American Express presents a compelling toolkit of financial benefits and functional perks designed to cater to the eclectic needs of businesses. However, it brings a suite of considerations that prospective cardholders should evaluate carefully amidst its striking offers and notable investments.
Impressive Welcome Offer
The Business Platinum Card® from American Express jumps out of the gate with an enticing 150,000-point welcome offer after spending $20,000 in the first three months. This generous welcome offer holds immense value, especially for businesses with significant upfront costs. Depending on redemption, these points can offset travel expenses or be utilized towards business rewards, offering an excellent return on investment early on.
Great Rewards on Business Spending
With carefully tailored reward tiers, this card allows businesses to earn more points on high-volume categories. Notably, when booking through AmexTravel.com, you can earn 5X Membership Rewards® points on flights and prepaid hotels. You'll also 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, on up to $2 million per Card Account per calendar year. Purchases eligible for multiple additional point bonuses will only receive the highest eligible bonus. And 1X points for each dollar you spend on eligible purchases. This reward structure provides an exceptional return on expenses already crucial for many businesses, turning necessary spending into an investment.
Significant Statement Credits
The Business Platinum Card® from American Express provides substantial statement credits on various business essentials, acting as a valuable cashback mechanism. From tech and recruitment to telecoms, and even luxury travel expenses, these credits offer direct savings. These benefits can notably mitigate operational costs, and their value will align with each business's unique spending habits. These credits contribute substantially to operational efficiency and heighten the card's overall worth.
Travel Perks
For frequent business travelers, the free access to over 1,400 airport lounges globally through the American Express Global Lounge Collection is almost unbeatable. The card also offers hotel credits and onboard cruise credits, complementing its point system to deliver a comprehensive travel rewards package, and up to a $120 credit for Global Entry or $85 credit for TSA PreCheck every 5 years. Plus, travel insurance protections offer peace of mind, making business travel not just more rewarding, but also more comfortable and secure.
High Annual Fee
While the annual fee of $695 may initially seem steep, when balanced against the card's extensive rewards, credits, and benefits, it's a worthwhile investment for businesses with high spending and travel frequency. However, if your business has lower spending or less frequent travel, you should carefully consider whether the benefits will sufficiently offset this fee.
No Intro APR Offers
The absence of introductory APR offers means this card might not be the best fit for businesses seeking to leverage credit for initial growth or to manage cash flow. The card's regular variable APR ranges from 18.49% - 27.49%, which could add up over time. Therefore, this card is most suitable for businesses capable of paying off the balance in full each month to avoid accruing interest.
Amex Business Platinum Membership Rewards® Points Estimator
Estimate the value of the rewards you could earn with the Amex Business Platinum card. Use this calculator to see how your spending translates into Membership Rewards® Points. To use the calculator, enter your estimated spending in each category. The calculator will then show you the total points you could earn annually.
Important Disclaimers:
- This calculator is for planning and evaluation purposes and is not sponsored or endorsed by American Express.
- Some of your purchases may not be eligible for earning points.
- The value of points at redemption will vary.
1
Monthly spending on eligible purchases at U.S. construction material, hardware suppliers, electronic goods retailers, software & cloud system providers, and shipping providers (1.5X points)
$
2
Monthly spending on purchases of $5,000 or more (1.5X points)
$
3
Monthly spending on other eligible purchases (1X points)
$
Points Earned From the Card:0
Estimated Points Value:0 cents
Value of Points:$0
How the The Business Platinum Card® from American Express Compares
A side-by-side comparison of two credit cards offers a clear lens to discern their strengths, weaknesses, and best-fit scenarios for potential cardholders.
How This Card Compares
The Business Platinum Card® from American Express
- Rewards rate: Earn 5X Membership Rewards® points on flights and prepaid hotels on AmexTravel.com, 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, on up to $2 million per Card Account per calendar year. Purchases eligible for multiple additional point bonuses will only receive the highest eligible bonus. And 1X points for each dollar you spend on eligible purchases.
- Welcome offer: Earn 150,000 points if you spend $20,000 in the first 3 months
- Regular APR: 18.49% - 27.49% Variable See rates and fees.
- Annual fee: $695 See rates and fees.
- Intro APR offer: None
- Terms Apply
- See rates and fees.
- Best for: bigger businesses with high expenses that can maximize travel benefits
American Express® Business Gold Card
- Rewards rate: Earn 4X Membership Rewards® points on the top two eligible categories where your business spends the most each month from 6 eligible categories. While your top 2 categories may change, you will earn 4X points on the first $150,000 in combined purchases from these categories each calendar year (then 1X thereafter). Only the top 2 categories each billing cycle will count towards the $150,000 cap. 3X Membership Rewards® points on flights and prepaid hotels booked on amextravel.com using your Business Gold Card. And 1X is earned for other purchases.
- Welcome offer: Earn 100,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.*
- Regular APR: 18.49%-27.49% (variable Pay Over Time APR) See Rates and Fees
- Annual fee: $375 See Rates and Fees
- Intro APR offer: 0% Intro APR for 6 months on purchases eligible for Pay Over Time, then a variable APR of 18.49%-27.49% after that. See Rates and Fees
- Terms Apply
- See Rates and Fees
- Best for: high spending in specific categories
Eligibility and benefit levels vary by card. Terms, conditions and limitations apply. For more details, please visit americanexpress.com/benefitsguide. Underwritten by Amex Assurance Company.
For rates and fees of The Business Platinum Card® from American Express, please click here.
For rates and fees of the American Express® Business Gold Card, please click here.
About Grace Pilling
Grace Pilling was the Senior Content Manager for Credit Cards at MoneyGeek. She previously led personal finance teams at Bankrate, CreditCards.com and MoneyUnder30.
Pilling has a bachelor's degree in English from Western Sydney University and a diploma in book editing, proofreading and publishing. She is focused on empowering readers to make informed financial choices that support their best lives, not a company’s bottom line.
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.