The Business Platinum Card® from American Express has a fantastic welcome offer where new applicants can 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
Plus earn 5x points on eligible purchases in 5 select business categories, up to 80,000 bonus points per category, within the first 3 months.
Although this card comes with a $595 annual fee ($695 if application is received on or after 01/13/2022) (see Rates & Fees), business owners who travel often can benefit largely. This card allows you to earn up to 5X Membership Rewards points $1 spent on certain travel expenses. Plus, it comes with complimentary Gold status with Hilton Honors and Marriott Bonvoy along with many more perks!
With the Pay Over Time Option, you’re able to reap the benefits of a flexible payment option to help manage cash flow on purchases of $100 or more.
If this card interests you, then continue reading below to find out what more it has to offer!
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Amex Business Platinum Card Summary
The The Business Platinum Card® from American Express has a welcome offer of 120,000 Membership Rewards points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
Plus, 0% Intro APR for 12 months from the date of the account opening on purchases eligible for Pay Over Time. After that, your APR will be 14.24% to 22.24% based on your credit worthiness and other factors as determined at the time of account opening.
• 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com. In addition, you'll get 50% more Membership Rewards® points.
• 1.5X Membership Rewards points on eligible purchases in key business categories, as well as on purchases of $5,000 or more everywhere else. Cap applies.
Get $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year toward baggage fees and more at one qualifying airline.
This card does come with a $595 annual fee ($695 if application is received on or after 01/13/2022). (See Rates & Fees)
Amex Business Platinum Bonus
You’ll be able to earn 120,000 Membership Rewards® points after meeting the spend requirements. There are many ways to go about this. Down below are several options to acquiring these points.
• Plastiq - Using Plastiq allows you to pay for your personal expenses such as rent, tuition, mortgage, auto lease etc. Although they charge a 2.5% processing fee for using your credit card, this will contribute to the card bonus that you will receive. There is also a referral program that allows you to earn "Free-Free Dollars" that goes towards processing fees as well.
• Funding Checking Accounts - When it comes to funding a checking account, opening your initial deposit with a credit card is the usual way to go about it. However, if you want to have more opportunities, you should open a checking account that offers a sign-up bonus. This allows you to work towards bonuses from not one but two different sources instead. Banks like Chase, Huntington Bank, TD Bank and BBVA offers credit card funding, and for your opening deposit, you can often fund anywhere from $50-$1000 with a credit card, depending on what bank offers it.
• Gift Card Purchases With Using a Credit Card - Another way to acquire the bonus is using your credit card to purchase gift cards. Buying a a gift card or an individual merchant card typically do not require a purchase fee and are used towards leisure, so gift cards are ideal. However, gift cards such as a Visa or American Express do incur purchase fees because they can be spent anywhere, but gift cards that are specifically for a certain online shopping site such as Amazon or eBay don't.
As for a Citi Credit Card, you should call customer service and ask them to lower your Cash Advance limit to $0 before making any purchases because Citi tends to read gift card purchases as a Cash Advance.
Ideally, you should do this with any card just to be safe. Lastly, there is such thing as a discounted gift card which can be purchased on Raise or eBay. If you use a credit card often for everyday purchases, it can build your credit score that will contribute towards paying for things such as bills and taxes.
Earning Membership Rewards Points
The Amex Business Platinum Card earns 5X Membership Rewards points on flights and prepaid hotels when you book on the American Express Travel website.
In addition, most purchases earn 1 Membership Rewards point. For eligible purchases of $5,000 or more, enjoy 1.5X Membership Rewards points, up to 1 million additional points per year.
There is no limit to how much you can earn. Plus, points don’t expire as long as you have this card.
Redeeming Membership Rewards Points
Redeem your points for merchandise, transportation, travel, gift cards, and statement credits through the American Express Membership Rewards portal. Points are valued up to 1 cent apiece, but it can vary by redemption method. Statement credits have lower redemption values, while merchandise and transportation have higher values.
I recommend redeeming your points for airline travel for qualifying airlines. This is called “Pay With Points.” With this option, you get a 35% points bonus, payable as a rebate. For example, if you redeem 10,000 points for a flight, 3,500 points are returned back into your account.
Unfortunately, you can receive this benefit with one airline, so choose the carrier you fly with most often. This benefit is capped at 500,000 bonus points per calendar year.
With Amex’s many airline and hotel transfer partners–which includes major airline alliances SkyTeam, Star Alliance, and Oneworld–transferring your points to an airline partner is the best way to maximize the value of your points. Your points will generally transfer at a 1:1 ratio with the exception of a few partner programs, such as Aeromexico, JetBlue, and Hilton Honors.
You can get up to 2 cents per point when you use Amex’s travel partners. Below is a chart of Membership Rewards partners with American Express.
Membership Rewards Airline Partners
|Aer Lingus||AeroMexico||Air Canada|
|Air France/KLM||Alitalia||All Nippon Airways|
|Avianca||British Airways||Cathay Pacific|
|Delta Air Lines||El Al Israel Airlines||Emirates|
|Etihad Airways||Hawaiian Airlines||Iberia|
|JetBlue Airways||Qantas||Singapore Airlines|
Membership Rewards Hotel Partners
|Choice Privileges||Hilton Honors||Marriott Bonvoy|
The Business Platinum Card® from American Express is a great choice for business owners who often travel either for business or personally. The fantastic welcome offer is a two-step earning process that shouldn’t take too much effort if you use your card for all your expenses or make those big purchases for your business. There’s tons of earning power with this card, scoring you up to 5X Membership Rewards Points per $1 spent.
Additionally, you can possibly offset the high annual fee with the Global Lounge Collection. But, we’re going to be honest — most people don’t spend too much time in airport lounges. However, when they do get the chance, it’s definitely worth the time and money, especially in between long flights for business.
Overall, this card is designed for business owners who travel frequently, and who spend at least $4,000 doing so. Make sure to read the fine print when considering this card and justify the benefits vs. the annual fee!
Please provide feedback in the comment section below by telling us your thoughts and experience with this card. Make sure to visit BankDealGuy for more credit card bonuses
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• HSBC Bank Bonuses. HSBC has some big value offers available for their Checking accounts. Some require hefty deposits to qualify. They also have an online Savings account offering a very competitive rate.
• Huntington Bank Bonuses. Huntington has Consumer Checking and Business Checking accounts available throughout the year.
• Discover Bank Bonuses. As an online bank, Discover offers high and competitive rates on their Savings, CD, and Money Market accounts. Enjoy excellent customer service nationwide.
• TD Bank Bonuses. TD Bank consistently offers great Checking account bonuses all year long. Savings account offers are less frequently available.