AwardWallet receives compensation from advertising partners for links on the blog. Terms Apply to the offers listed on this page. Enrollment is required for select Amex benefits. The opinions expressed here are our own and have not been reviewed, provided, or approved by any bank advertiser. Here's our complete list of Advertisers.
Few small business cards are quite like The Business Platinum Card® from American Express. With a plethora of travel perks and business service credits, there is no question that the card can benefit you. But, does it justify the $695 annual fee? (Rates & Fees)
We will help you answer that for yourself by walking through all the benefits, earning rates, welcome offer, and annual credits to see if the card justifies its cost in our full review of the Business Platinum Card.
- Limited Time Travel Offer: Earn 150,000 Membership Rewards® points after you spend $20,000 on eligible purchases on your Business Platinum Card® within the first 3 months of Card Membership. Plus, earn a $500 statement credit after you spend $2,500 on qualifying flights booked directly with airlines or through American Express Travel with your Business Platinum Card® within the first 3 months of Card Membership. You can earn one or both of these offers. Offer ends 6/30/25.
- 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 10/2024.
- Unlock over $1,000 in statement credits on select purchases, including tech, recruiting and wireless in the first year of membership with the Business Platinum Card®. Enrollment required.
- Fly like a pro with a $200 Airline Fee Credit. Select one qualifying airline to receive up to $200 back per year on baggage fees and other incidentals.
- NEW! Make the Business Platinum Card® work even harder for you. Hilton For Business members get up to $200 back per calendar year when you make an eligible purchase at Hilton properties across the globe. Benefit enrollment required.
- Earn 5X Membership Rewards® points for flights, prepaid hotels, and short-term rentals and prepaid flight + hotel packages booked at AmexTravel.com. 1X points on other 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, 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.
- $199 CLEAR® Plus Credit: Use your card and get up to $199 in statement credits per calendar year on your CLEAR® Plus Membership (subject to auto-renewal) when you use the Business Platinum Card®.
- $695 Annual Fee.
- Terms Apply.
- Rates & Fees
- Earn 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com.
- Earn 1.5X Membership Rewards® points on each eligible purchase of $5,000 or more.
- Earn 1.5X Membership Rewards® points on each eligible purchase with U.S. construction material and hardware suppliers.
- Earn 1.5X Membership Rewards® points on each eligible purchase with U.S. electronic goods retailers and software & cloud system providers.
- Earn 1.5X Membership Rewards® points on each eligible purchase with U.S. shipping providers.
- 1.5X earning rates are subject to a cap of $2 million in purchases per calendar year.
Page Contents [show]
Business Platinum Card Pros
- Access to Centurion Lounge locations and Priority Pass lounge membership.
- Solid travel insurance protections.
- Over $1,400 in valuable annual credits.
- Highly valuable welcome offer.
- Points are transferable to a great array of travel partners.
Business Platinum Card Cons
- $695 annual fee.
- Poor return for everyday spending.
- Not all credits may be useful.
Business Platinum Card Welcome Offer
The Business Platinum Card currently offers the following welcome bonus: 150,000 after you spend $20,000 on eligible purchases within your first 3 months of Card Membership, plus a $500 statement credit after you spend $2,500 on qualifying flights within the first 3 months of Card Membership (offer ends 6/30/25). This is the best publicly available offer we've seen in this card's history.
Based on the redemption value of actual bookings made by AwardWallet users, Membership Rewards have provided 1.96¢ in value. At this rate, a 150,000-point welcome offer is worth over $2,900. In total, with the $500 statement credit, the value of the welcome offer can exceed $3,400. That means the welcome bonus alone is worth the annual fee for multiple years of card membership. Plus, you should be able to get plenty of value out of the various credits.
Related: The Best Small Business Credit Card Bonus Offers This Month
Business Platinum Card Benefits
The travel benefits and annual credits you get with the Business Platinum Card are numerous. We cover each of the primary perks in detail.
No preset spending limit
The Business Platinum Card is not a traditional credit card. Instead, it has no preset spending limit. There are positives and negatives to this.
With a traditional credit card, you'll get a credit limit (for example, $15,000) and can't spend past that amount until you pay off some of the balance. With no preset spending limit, the amount you can spend adapts based on factors such as your purchase, payment, and credit history. This doesn't mean unlimited spending capacity, but it does mean you aren't likely to hit a wall with spending the way you would with traditional credit cards.
However, you need to pay your full balance each month on this card — unless you enroll in Pay Over Time and have eligible purchases that you can opt to pay later, in exchange for paying interest on the balance you carry.
Note: Eligible charges can be included in a Pay Over Time balance, up to the Pay Over Time Limit. All charges not added to a Pay Over Time balance or monthly payment plan or Cash Advance balance must be paid in full each month by the payment due date. Pay Over Time only applies to eligible charges meeting minimum transaction amounts for certain cards.
Lounge access
American Express operates its own Centurion Lounge network with 14 U.S. locations and 11 international locations. Business Platinum Card members enjoy complimentary access to Centurion locations within three hours of flight departure. Sadly, Amex ended the complimentary guest access policy in early 2023. You can still bring guests into the Centurion Lounge, but you'll have to pay $50 per guest or earn guest privileges by spending $75,000 or more on purchases with your card each year.
In addition to offering access to Centurion Lounges, eligible Business Platinum Card holders get access to additional lounges through the Global Lounge Collection®. Cardholders can visit Delta Sky Club® lounges but must have a boarding pass for a same-day flight with Delta Air Lines to access Delta Sky Club locations. Your card doesn't provide free guest access, but you can purchase Sky Club access at $50 per person for up to two travel companions.
The Business Platinum Card also gives you a Priority Pass Select membership. This provides complimentary access to lounge locations within that network, with guest policies subject to each individual lounge (typically two guests). Complimentary access to AirSpace and Escape lounges is also a perk provided by your Business Platinum Card. Enrollment is required for select Amex benefits.
Get 35% back when redeeming Membership Rewards for flights
One of the best Business Platinum Card benefits is the 35% “points bonus” (read: rebate) you receive on eligible flight bookings made through Amex Travel®.
Business Platinum Card members receive 3.5 Membership Rewards points back for every 10 points redeemed for a first-class or business-class ticket on any airline. The same is true for any flight on their selected qualifying airline (the same airline that receives the $200 airline incidental credit, discussed later). Cardholders can receive up to one million bonus points per calendar year with this benefit.
You must redeem a minimum of 5,000 Membership Rewards points to receive the 35% rebate. American Express takes up to 10 weeks to deposit the rebated points back into your rewards account. It's required that you enroll in advance, including choosing your preferred airline.
One of the best aspects of this perk is that it lets you take advantage of first-class or business-class fare deals. Paying for cash fares using Membership Rewards with a 35% rebate is sometimes a better deal than transferring to airline miles and booking an award ticket.
After factoring in the rebate, you get an effective redemption rate of 1.54 cents per point. This is less than the average value AwardWallet users receive from their Membership Rewards points (currently 1.96¢ per point). However, factoring in the miles you earn on a cash fare can change the math substantially.
Hotel elite status and car rental savings
The Business Platinum Card lets you enjoy elite status with two hotel chains and benefits with select car rental partners, including:
- Hilton: Enroll for complimentary Hilton Honors Gold elite status
- Marriott: Enroll for complimentary Marriott Bonvoy® Gold elite status
- Avis, Hertz, and National: Enroll to receive status and perks, such as discounts, car upgrades, and even grace periods on late returns
Enrollment in hotel and car rental partner programs is required. Also, you will have to visit the benefits section of the Amex website to activate your hotel elite benefits. Additionally, you can use your card to earn rental car elite status for free, even matching this status to additional programs.
Amex Fine Hotels + Resorts® and The Hotel Collection
Between Amex Fine Hotels + Resorts and The Hotel Collection, Amex provides a suite of benefits at over 2,000 luxury hotels around the world. Benefits through Fine Hotels + Resorts include:
- Room upgrade, based on availability at check-in
- Daily breakfast for two guests
- Check-in as early as noon, when available
- Guaranteed 4 p.m. late checkout
- Complimentary Wi-Fi
- Property credit, worth at least $100 per stay. Depending on the property, it may be for dining, spa, or some other experience.
The Hotel Collection benefits aren't as great, and these stays require a minimum of two nights. Perks include:
- Room upgrade, based on availability at check-in
- Property credit, worth at least $100 per stay.
You must book through Amex to receive these benefits.
Save up to $1,400 annually on business expenses with the Business Platinum Card
The Business Platinum Card offers several valuable annual credits with specific merchants. Fully using these credits ensures you get the maximum value each year from your card. The issue is that not all the credits are useful to everyone. In fact, some credits are more difficult to use than others.
Here is a summary of all the credits, which provide over $1,400 in annual value:
- $400 Dell Technologies credit
- $360 Indeed credit
- $150 Adobe credit
- $120 wireless telephone service credit
- $200 airline incidental fee credit
- $199 CLEAR® credit
Enrollment is required for select Amex benefits.
It's worth pointing out that Amex is considering removing the Adobe, Dell, and Indeed credits in 2025.
Get $400 off Dell purchases
The Business Platinum Card provides twice-yearly $200 statement credits for purchases from Dell Technologies every calendar year. The first $200 credit will be applied against eligible purchases from January through June, and the second credit is valid from July through December. This is a total benefit of $400 annually. Enrollment is required in advance.
If your business routinely makes purchases from Dell, this credit alone makes up for more than half the annual fee.
Related: How To Use Your Dell Credits, Plus Ideas on What To Buy
Enjoy quarterly credits with Indeed
Your Business Platinum Card provides a quarterly statement credit of up to $90 when you purchase Indeed services. Quarters are defined as January through March, April through June, July through September, and October through December. This is up to $360 in annual savings. Enrollment is required to use this benefit.
This is likely less useful than the Dell credit for most businesses. However, if your company already uses Indeed for hiring, this is straight savings.
Save $150 on an annual Adobe plan
Lots of businesses use Adobe services, and this annual credit should be useful for many. American Express will provide a $150 statement credit when you pay for an annual prepaid plan for eligible Creative Cloud for teams and Acrobat Pro DC with e-sign for teams using your Business Platinum Card. Enrollment is required.
Related: How To Get a Business Credit Card in 3 Steps
Save $120 per year on your wireless bill
The Business Platinum Card provides a credit of up to $10 per month when you pay for your wireless service with your card. Enrollment is required to enjoy this benefit.
Purchases must be made directly with a wireless provider. Service through wireless resellers will not qualify. Even factoring in the credit, it's possible to find a cheaper service through a reseller than directly from a major carrier and getting $10 back. Make sure that you do your due diligence on this one.
Related: First Steps After Your New Business Platinum Card Arrives
Get reimbursed up to $200 each year for airline incidentals
The Business Platinum Card offers a credit of up to $200 each year that reimburses you for common incidental expenses with your airline of choice. The options include 11 airlines (all based in the U.S.), including all the major carriers.
Airline incidental expenses include baggage fees, seat selection fees, lounge day passes, in-flight entertainment purchases (not always), and in-flight food and beverage purchases. You can select your airline after initial approval for the card and change your carrier of choice every year in January. Enrollment/choosing a preferred airline is required in advance. Make sure you select an airline! Otherwise, you won't be reimbursed for any incidentals.
Enrollment is required for select Amex benefits.
Use the CLEAR credit to speed through airport security
Pay for the $199 annual CLEAR® Plus membership using your Business Platinum Card and the fee will be fully reimbursed as a statement credit. CLEAR provides an efficient security experience at select airports and stadiums across the United States through the use of your biometrics.
Related: Should You Register For CLEAR?
Enroll in a Trusted Traveler Program for free
Unlike the other Business Platinum Card credits, the trusted traveler program credit applies once every four years for Global Entry or 4.5 years for TSA PreCheck. You can enroll in either TSA PreCheck (up to $85 application fee) or Global Entry ($120 application fee). Simply use your card to pay the application fee for either program. A statement credit reimbursing you for the full amount will be automatically applied by American Express.
Global Entry provides all TSA PreCheck benefits, but it also lets you skip the main airport immigration line when returning to the U.S. from abroad. The catch is the more rigorous approval process. You have to interview with a Customs and Border Patrol agent at an airport, which can be inconvenient. However, if you have an upcoming international trip, you may be able to perform the Global Entry interview on arrival. This isn't available at all airports, however.
Related: Is Global Entry Better Than PreCheck?
Business Platinum Card travel insurance coverage
The travel insurance and other protections offered by the Business Platinum Card are excellent. Here's a quick rundown on what is offered:
- Rental car damage protection: The car rental coverage provided by the Business Platinum Card is secondary, which means it isn't as good as other cards that provide primary coverage. However, you have the option of purchasing very affordable premium insurance.
- Trip cancellation/interruption insurance: You can be reimbursed for nonrefundable travel expenses charged to your card in the event of accidental injury or sickness, inclement weather, jury duty, quarantine, or other covered reasons.
- Trip delay reimbursement: Get reimbursed for expenses during a delay of at least six hours caused by inclement weather, common carrier equipment failure, or lost/stolen travel documents. Coverage is limited to $500 per trip. There's a maximum of two claims per 12-month period.
- Baggage insurance plan: Your baggage is covered against loss or damage up to $2,000 per checked bag and $3,000 per carry-on bag per covered person per trip.
- Extended warranty protection: Receive up to one additional year of warranty protection for eligible items with an original manufacturer's warranty of five years or less, up to $10,000 per covered purchase.
- Purchase protection: Eligible items are covered against loss, damage, or theft of items for 90 days from the date of purchase, up to $10,000 per item and $50,000 annually.
Consult the Business Platinum Card guide to benefits for a full rundown of all insurance protections. Enrollment is required for select Amex benefits.
Cell phone protection coverage
Receive cell phone protection coverage when you pay your cell phone bill using your Business Platinum Card. This benefit applies automatically as long as you've paid your previous month's bill using your card. Coverage is up to $800 per incident (with a $50 deductible) for up to two claims per 12-month period per card account.
Coverage may include either repair cost or replacement cost, depending on the incident. The surprising aspect is that Amex cell phone protection even covers a cracked screen, which is often excluded from cell phone protection coverage.
Business Platinum Card Earning Rates
Put simply, the Business Platinum Card falls short of other American Express products for earning points. Instead, the card is focused on business travelers looking for luxury perks and benefits. It provides a decent return for flights and hotel through amextravel.com, but not much else captures attention.
- Earn 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com.
- Earn 1.5X Membership Rewards® points on each eligible purchase of $5,000 or more.
- Earn 1.5X Membership Rewards® points on each eligible purchase with U.S. construction material and hardware suppliers.
- Earn 1.5X Membership Rewards® points on each eligible purchase with U.S. electronic goods retailers and software & cloud system providers.
- Earn 1.5X Membership Rewards® points on each eligible purchase with U.S. shipping providers.
- 1.5X earning rates are subject to a cap of $2 million in purchases per calendar year.
These earning rates are less than what you could earn using the The Blue Business® Plus Credit Card from American Express for daily spending. This card earns 2x Membership Rewards per dollar on the first $50,000 in purchases each year, then 1X on further purchases.
Even the American Express® Business Gold Card also has the potential to earn more points. This card earns 4X Membership Rewards points on the 2 eligible categories where your business spent the most each month, 1X on other purchases. 4X points apply to the first $150,000 in combined purchases from these 2 categories each calendar year.
If you're purely looking for a high return on spending, either of these cards is likely a better choice for business owners.
Related: All of the Cards That Earn American Express Membership Rewards Points
Redeeming Points With the Business Platinum Card
No matter how you earn them, American Express Membership Rewards are valuable. Amex partners with 21 airline and hotel transfer partners, and redeeming points through transfer partners will nearly always get you the best value.
Based on recent redemption data from AwardWallet, Membership Rewards points have an average value of 1.96¢ per point when redeeming through travel partners. American Express has 21 airline and hotel partners that you can send points to, including Delta, Air Canada, British Airways, Hilton, Marriott, and more. Generally, you get better value redeeming points for business- or first-class flights:
- Domestic and short-haul international business and first class: 2.52¢ per point
- Long-haul international business and first class: 2.95¢ per point
You can redeem your points in other ways — from gift cards to Amazon purchases. But, we strongly recommend you use them for travel, as this provides the best value. If you find reasonable premium cabin fares, redeeming points through Amex Travel with the 35% back benefit can also be a solid choice.
Related: 5 Excellent Redemption Strategies for Amex Membership Rewards
Application Restrictions
Know the American Express application rules so you can understand if you're eligible for a welcome bonus on the Business Platinum Card. The following terms apply to the welcome offer:
“You may not be eligible to receive a welcome offer if you have or have had this Card or previous versions of this Card. You also may not be eligible to receive a welcome offer based on various factors, such as your history with credit card balance transfers, your history as an American Express Card Member, the number of credit cards that you have opened and closed and other factors. If you are not eligible for a welcome offer, we will notify you prior to processing your application so you have the option to withdraw your application.”
Luckily, Amex has a pop-up window to tell you if you're ineligible for the welcome offer before submitting your application. That way, you can decide if you still want to apply without the bonus offer.
There are other rules to note, as well. Amex only allows each person to have five traditional credit cards an 10 cards with no preset spending limit at any time. Moreover, you're unlikely to be approved for more than two cards in a 90-day window.
Related: Understanding Rewards Credit Card Application Rules and Restrictions
Cards That Compete With the Business Platinum Card
- 10X miles per $1 on hotels and rental cars booked via Capital One Travel
- 5X miles per $1 on purchases through Capital One Entertainment (through 12/31/2025)
- 5X miles per $1 on flights booked via Capital One Travel
- 5X miles per $1 on vacation rentals booked via Capital One Travel
- 2X miles per $1 on other eligible purchases
(Terms apply)
- U.S. purchases for advertising in select media (online, TV, radio)
- U.S. purchases made from electronic goods retailers and software & cloud system providers
- U.S. purchases at gas stations
- U.S. purchases at restaurants, including takeout and delivery
- Transit purchases including trains, taxicabs, rideshare services, ferries, tolls, parking, buses, and subways
- Monthly wireless telephone service charges made directly from a wireless telephone service provider in the U.S.
- 3X points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year
- 1X point per $1 on all other purchases
- If you want a card with lounge access with a lower annual fee, consider the Capital One Venture X Business. This card still provides a Priority Pass membership and access to both Capital One and Plaza Premium Lounges with an annual fee of just $395. It also has a $300 annual travel credit and a better everyday earning rate, but you lose the $1,400 in other credits. Learn more in our full Venture X Business review. Conversely, check out our Venture X Business versus Business Platinum Card comparison.
- If you want to earn American Express Membership Rewards at a better rate, look into the American Express® Business Gold Card. This card earns 4X Membership Rewards points in the top two eligible categories each month, up to $150,000 of annual spending (then 1X earning). It also earns 3X points for flights and prepaid hotels booked through Amex Travel, but this falls short of the Business Platinum Card. You'll likely earn more points and have access to the same transfer partners, but you lose most of the ancillary benefits. Our Amex Business Gold review has further details.
- If you want solid earnings at another bank with a lower fee, the Ink Business Preferred® Credit Card is a solid option. For a $95 annual fee, you'll earn 3x points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, and advertising purchases made with social media sites and search engines each account anniversary year plus 1X on other purchases. Chase Ultimate Rewards points transfer to 14 airline an hotel programs, including some of the same options as Amex: Air Canada, Marriott, British Airways, Air France, and more. You won't get lounge access or hundreds of dollars in spending credits, but you can earn a lot of points at a lower annual fee and still get valuable insurance protections. Consult our Chase Ink Preferred review for more information.
Bottom Line
Amex increased the Business Platinum Card annual fee to $695 (Rates & Fees) in 2022. That is a hefty fee — even for a premium travel and business credit card. To justify the increase, Amex added additional spending credits and increased the value of some existing credits. Amex touts that the card offers over $1,400 in benefits.
Given the list of benefits, I feel that the annual fee is justified. Plus, you also enjoy a wealth of travel perks. Make sure you don't forget to factor in perks like travel insurance protections and the potential savings from the 35% rebate when paying with Membership Rewards points. The excellent welcome offer on the Business Platinum Card shouldn't be ignored, either.
Ultimately, you'll have to decide whether the Business Platinum Card is worth it for you. The annual fee is quite high, but the card offers excellent savings if you can use the bulk of its various perks and credits. If you don't find the card compelling, there are plenty of other great business credit cards out there. I'm sure you can find one that meets your business needs.
- Limited Time Travel Offer: Earn 150,000 Membership Rewards® points after you spend $20,000 on eligible purchases on your Business Platinum Card® within the first 3 months of Card Membership. Plus, earn a $500 statement credit after you spend $2,500 on qualifying flights booked directly with airlines or through American Express Travel with your Business Platinum Card® within the first 3 months of Card Membership. You can earn one or both of these offers. Offer ends 6/30/25.
- 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 10/2024.
- Unlock over $1,000 in statement credits on select purchases, including tech, recruiting and wireless in the first year of membership with the Business Platinum Card®. Enrollment required.
- Fly like a pro with a $200 Airline Fee Credit. Select one qualifying airline to receive up to $200 back per year on baggage fees and other incidentals.
- NEW! Make the Business Platinum Card® work even harder for you. Hilton For Business members get up to $200 back per calendar year when you make an eligible purchase at Hilton properties across the globe. Benefit enrollment required.
- Earn 5X Membership Rewards® points for flights, prepaid hotels, and short-term rentals and prepaid flight + hotel packages booked at AmexTravel.com. 1X points on other 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, 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.
- $199 CLEAR® Plus Credit: Use your card and get up to $199 in statement credits per calendar year on your CLEAR® Plus Membership (subject to auto-renewal) when you use the Business Platinum Card®.
- $695 Annual Fee.
- Terms Apply.
- Rates & Fees
- Earn 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com.
- Earn 1.5X Membership Rewards® points on each eligible purchase of $5,000 or more.
- Earn 1.5X Membership Rewards® points on each eligible purchase with U.S. construction material and hardware suppliers.
- Earn 1.5X Membership Rewards® points on each eligible purchase with U.S. electronic goods retailers and software & cloud system providers.
- Earn 1.5X Membership Rewards® points on each eligible purchase with U.S. shipping providers.
- 1.5X earning rates are subject to a cap of $2 million in purchases per calendar year.
For rates and fees of the cards mentioned in this post, please visit the following links: The Business Platinum Card® from American Express (Rates & Fees), American Express® Business Gold Card (Rates & Fees), and Ink Business Preferred® Credit Card (Rates & Fees)
Show me how
The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
