The Business Platinum Card® from American Express has a fantastic welcome offer where new applicants can earn up to 100,000 Membership Rewards® points. Earn 50,000 Membership Rewards® points after you spend $10,000 and an extra 50,000 points after you spend an additional $15,000 all on qualifying purchases within your first 3 months of Card Membership.
Although this card comes with a $595 annual fee, 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!
If this card interests you, then continue reading below to find out what more it has to offer!
Table of Contents
- 1 Amex Business Platinum Card Summary
- 2 Amex Business Platinum Bonus
- 3 Earning Membership Rewards Points
- 4 Redeeming Membership Rewards Points
- 5 Amex Business Platinum Cardholder Benefits
- 6 Author’s Verdict
- 7 Alternative Credit Cards Options
Amex Business Platinum Card Summary
The The Business Platinum® Card from American Express has a welcome offer where you can earn up to 100,000 Membership Rewards® points. Earn 50,000 Membership Rewards® points after you spend $10,000 and an extra 50,000 points after you spend an additional $15,000 all on qualifying purchases within your first 3 months of Card Membership.
You'll also earn 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com. In addition, you'll get 50% more Membership Rewards® points. That's 1.5 points per dollar, on each eligible purchase of $5,000 or more. You can get up to 1 million additional points per year.
If you use your Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline, you can get 35% of the points back, up to 500,000 bonus points per calendar year.
This card does come with a $595 annual fee. Now, you can earn up to $200 in statement credits annually by getting up to $100 semi-annually for U.S. purchases with Dell. Terms apply.
Amex Business Platinum Bonus
You’ll be able to earn up to 100,000 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|
Amex Business Platinum Cardholder Benefits
The Amex Business Platinum Card comes with general travel benefits, such as complimentary car rental upgrades, complementary car rental insurance covering loss and damage. In addition, it comes with extended warranty and some general purchase protections. Some other notable benefits include:
- Airline Fee Credit: Get $200 annual airline fee credit with the airline of your choice. Offset incidental expenses like baggage fees and in-flight services. Note that the airline must be the same carrier you choose for your 35% points bonus.
- Complimentary Airport Lounge Access: Enjoy complimentary access to over 1,200 airport lounges in over 130 countries through the American Express Global Lounge Collection. You can also access partner lounges, such as Delta Sky Club and The Centurion Lounge.
- Complimentary WiFi: Enjoy free access at more than 1 million Gogo and Boingo WiFi hotspots worldwide including Gogo in-flight WiFi passes.
- Fine Hotels & Resorts Benefits: Enjoy many convenient benefits at 1,000 Fine Hotels & Resorts. These include 12pm check-in when available, a room upgrade upon arrival when available, daily breakfast for two people, complimentary WiFi, guaranteed 4pm late checkout, and special amenities unique to each property.
- Complementary Starwood Preferred Guest Gold Status: Get complementary SPG Gold Status with this card. Enjoy a 50% bonus on base Starpoint earnings, special welcome gifts at check-in, flexible check-out, and room upgrades when available.
- OPEN Savings Benefit: Choose from either 2 additional Membership Rewards points per $1 spent or 5% discounts on purchases with OPEN Savings partner merchants, such as FedEx and Hertz. A complete list of participating merchants is available at opensavings.com. The 5% discount option gives 5% credits directly to your billing statements for the month when the corresponding purchase was made.
- No Foreign Transaction Fee
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.
As a charge card, the Business Platinum requires that you repay your balance in full each month, with limited exceptions. Although it does not accumulate regular interest charges, cardholders who don’t pay in full for two consecutive statement cycles incur late charges and risk account closure.
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
Learn more about this card and its features here.
Alternative Credit Cards Options
If you don’t particularly travel often for business, then here are some alternative cards you should look into that have much more affordable annual fees. These include the Chase Ink Business Preferred, Capital One Spark Cash for Business and Capital One Spark Miles for Business
The Chase Ink Business PreferredSM Card offers 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
You'll earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year; 1 point per $1 on all other purchases - with no limit to the amount you can earn. Furthermore, points are worth 25% more when you redeem for travel through Chase Ultimate Rewards.
This card does come with a $95 annual fee but does not have any foreign transaction fees.
The Capital One® Spark® Cash for Business offers a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening.
You're able to earn an unlimited 2% cash back could mean thousands of dollars each year going back into your business. Use Spark Cash across all your business spend, with no categories to limit your purchasing.
This card does come with a $95 annual fee, however, there is a $0 intro annual fee for the first year.
The Capital One® Spark® Miles for Business offers a one-time bonus of 50,000 miles once you spend $4,500 on purchases within 3 months from account opening
Your miles won't expire for the life of the account, and there are no categories to limit where or what you buy and you can earn 2 miles per $1 on every purchase.
There is an annual fee of $95, however, there is a $0 intro annual fee for the first year. Enjoy no foreign transaction fees and fly on any airline, anytime, with no blackout dates or seat restrictions.
• Chase Bank Bonuses. Chase usually offers the most sign-up bonuses out of all the big banks. Read up and enjoy several promotions for their Checking, Savings and Business accounts.
• 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.
|Chase Total Business Checking®||$200 Cash||Review|
|Chase Total Checking® + Chase SavingsSM||$350 Cash||Review|
|Chase Premier Plus CheckingSM||$300 Cash||Review|
|Chase College CheckingSM||$100 Cash||Review|
|TD Bank Beyond CheckingSM||$300 Cash||Review|
|TD Bank Convenience CheckingSM||$150 Cash||Review|
|Huntington Bank Accelerated Business Checking||$750 Cash||Review|
|Huntington Bank Fast Track Business Checking||$400 Cash||Review|
|Huntington Bank Community Business Checking||$200 Cash||Review|