Amex Business Platinum card review: Big bonus and luxury benefits

The Business Platinum Card® from American Express is a top-tier business rewards card with a range of valuable perks and benefits. While it does come with a high annual fee of $695, the card’s extensive statement credits and travel benefits go a long way in offsetting that cost. In addition, the card is currently offering a generous welcome bonus of 120,000 Membership Rewards points after meeting the spending requirement.

The welcome offer is certainly enticing, as the 120,000 points can be worth around $2,400 towards travel based on The Points Guy’s valuations. However, the spending requirement of $15,000 in the first three months may be a challenge for smaller businesses. It’s important to assess your cash flow and determine if you can meet this requirement or if a card with a lower spending threshold would be a better fit.

One of the standout features of the Amex Business Platinum Card is its range of statement credits. These credits can total over $1,500 per year and can be used for various purchases such as Dell products, Indeed hiring and recruiting services, Adobe software, wireless telephone services, Clear membership for expedited airport security, and more. These credits can significantly offset the annual fee and provide additional savings for cardmembers.

In terms of travel perks, the Amex Business Platinum Card offers access to the American Express Global Lounge Collection, which includes over 1,400 lounges worldwide. Cardmembers also receive complimentary Gold status with Hilton Honors and Marriott Bonvoy, as well as elite car rental status with Avis, Hertz, and National. These benefits enhance the travel experience and provide additional value for frequent travelers.

The card also offers purchase protection and extended warranty protection, which can be valuable for business purchases. Cardholders can also benefit from cellphone protection, a 35% rebate on Pay with Points bookings for flights, and access to the Cruise Privileges Program and International Airline Program. These perks make the Amex Business Platinum Card a comprehensive option for business owners looking to maximize their rewards and benefits.

In terms of earning points, cardholders earn 1.5 points per dollar on up to $2 million in eligible purchases in select categories, and 5 points per dollar on airfare and prepaid hotel purchases made through American Express Travel. All other purchases earn 1 point per dollar. These points can be redeemed for merchant gift cards or used to cover charges on the card, but the best value is achieved by using the Pay with Points feature, which offers a 35% rebate on select flights.

Additionally, cardholders have the option to transfer their Membership Rewards points to any of Amex’s 21 airline and hotel partners. Transferring points can potentially increase their value and provide more flexibility in redeeming them for travel.

Overall, the Business Platinum Card® from American Express is a top choice for business owners who can take full advantage of its perks and benefits. While the high annual fee may deter some, the extensive statement credits, travel perks, and earning potential make it a valuable tool for maximizing rewards and saving on business expenses.

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