Premium rewards credit cards with large annual fees typically come with lots of great perks that make them worth keeping in your wallet. The Business Platinum® Card from American Express OPEN is a great example!
There’s much more to the AMEX Business Platinum card than just a lucrative sign-up bonus (75,000 AMEX Membership Rewards points after meeting tiered minimum spending requirements). Cardholders can easily save money on purchases by taking advantage of AMEX Offers.
Don’t forget, AMEX small business credit cards do NOT appear on your personal credit report. That’s one of the reasons several Million Mile Secrets team members got this card. Because it doesn’t count toward card limits other banks have (like Chase)!
I’ll share my review of the AMEX Business Platinum. And help you decide if it’s a good fit for your wallet!
The AMEX Business Platinum Has a Larger Sign-Up Bonus and Lower Annual Fee Than the Personal Version!
For many folks, the AMEX Business Platinum can be a better pick than the personal version (The Platinum Card® from American Express). The sign-up bonus is larger and the annual fee is $100 cheaper. Keep in mind, you’ll have to spend more with the business version to unlock the sign-up bonus.
When you sign-up for the AMEX Business Platinum card, you’ll earn:
- 50,000 AMEX Membership Rewards points after you spend $10,000 on purchases in the first 3 months of account opening.
- 25,000 AMEX Membership Rewards points after you spend an additional $10,000 on qualifying purchases within the same timeframe
That brings the total sign-up bonus to 75,000 AMEX Membership Rewards points vs. 60,000 points on the personal version.
AMEX Membership Rewards points are popular transferable points to collect. Because you get flexibility to redeem points for award travel with any of the 20 AMEX airline or hotel partners. You can also use points to buy gift cards to popular stores and restaurants.
With the Business Platinum card, you’ll also get:
- 1.5X AMEX Membership Rewards points on single purchases of $5,000+
- 5X AMEX Membership Rewards points when you book airfare and hotels through the AMEX travel portal
- 35% of your points back for ALL First Class or Business Class flights booked through the AMEX travel portal using Pay With Points
- 35% of your points back for all flights, including coach tickets, booked with your selected airline through the AMEX travel portal using Pay With Points
- Up to $200 in statement credits per calendar year for airline incidentals with your selected airline (luggage fees, in-flight food & drink, etc.)
- Ability to book hotel stays through AMEX Fine Hotels & Resorts
- AMEX Premium Roadside Assistance
- Access to airport lounges (Delta, Priority Pass, Airspace, and American Express Centurion Lounges)
- Bonus points or statement credits when taking advantage of an AMEX Offer
- Elite car rental status with Avis, Executive status with National Car Rental, and Gold Plus Rewards with Hertz
- Free Hilton HHonors Gold elite status (free breakfast and upgrades when available)
- Free Starwood Gold elite status, which you can use to instantly match to Marriott Gold elite status
- 10 free Gogo in-flight Wi-Fi passes each calendar year
- Statement credit for Global Entry or TSA PreCheck
- Terms & limitations apply
This card has a $450 annual fee, which is NOT waived. But it’s not hard to offset the fee by taking advantage of a few perks (like annual statement credits) on the above list!
What’s the AMEX Business Platinum Sign-Up Bonus Worth?
It depends! After meeting the tiered minimum spending requirements, you’ll have at least 95,000 AMEX Membership Rewards points (75,000 points from sign-up bonus + at least 20,000 points from minimum spending).
You can redeem these points to get $950 worth of gift cards through the AMEX portal. But AMEX Business Platinum cardholders can get nearly $1,400 worth of airfare by using the Pay With Points rebate benefit.
And points can be even more valuable if you transfer them directly to any of the 20 AMEX airline or hotel partners to book award travel. And airline alliances and partnerships make it easier to find award flights to your desired destination. For example, you can transfer AMEX Membership Rewards points to Air Canada to book an award flight on Lufthansa, a Star Alliance partner airline.
The AMEX Business Platinum sign-up bonus can be worth thousands of dollars if you transfer points to airline partners for Business Class or First Class award tickets. For example, team member Keith once transferred 70,000 AMEX Membership Rewards points to Air Canada to book a First Class award flight on Lufthansa from Frankfurt to Los Angeles. This same ticket typically costs $11,000+ if you pay cash!
You can check out our Ultimate Guide to American Express Membership Rewards points to learn how you can redeem points for travel to destinations like Hawaii and Europe.
Drawbacks and Alternatives to Consider
To earn the total sign-up bonus on the AMEX Business Platinum card, you’ll have to meet a steep minimum spending requirement ($20,000 in 3 months). This is one of the largest requirements I’ve seen on a card.
Keep in mind, you might still consider applying even if you can’t meet the the total minimum spending requirement. Because you can still earn 50,000 valuable AMEX Membership Rewards points after you spend $10,000 on purchases in the first 3 months of account opening.
Don’t forget, you can also use services like Plastiq to pay bills that don’t normally accept credit cards. You’ll pay a small convenience fee, but it might be worth it to unlock the huge sign-up bonus on the Business Platinum card.
Another potential drawback is only business owners can qualify for the AMEX Business Platinum. But it’s easier than you might think to qualify for a business card. I’ve written about 7 quick small business ideas that can make you eligible!
For many folks, the perks on the Business Platinum card can easily justify paying the card’s $450 annual fee. You can actually make a profit (like team member Meghan did) by taking advantage of certain AMEX Offers you get as a cardholder.
But if you’re looking for a card with a lower annual fee or prefer a more straightforward rewards program, you might consider applying for one of these cards:
|Card Name||Sign-Up Bonus|
|Ink Business Preferred℠ Credit Card||80,000 Chase Ultimate Rewards points (worth $800 in cash back or $1,000 in travel) after you spend $5,000 on purchases in the first 3 months from account opening|
|Capital One® Spark® Miles for Business||50,000 Capital One Spark miles (worth $500 in travel) after you spend $4,500 on purchases in the first 3 months from account opening|
|Capital One® Spark® Cash for Business||$500 cash back after you spend $4,500 on purchases in the first 3 months from account opening
When you sign-up for the AMEX Business Platinum card and meet the tiered minimum spending requirements, you’ll have enough points to get you $950 in gift cards or $1,400 worth of airfare. Or potentially more value when you transfer points to 20 airline and hotel partners.
Besides the valuable sign-up bonus, you also get terrific ongoing perks that make the AMEX Business Platinum worth considering. For example, you get up to $200 in statement credits per calendar year for airline incidental purchases. Plus, free elite status with Hilton and Starwood.
Don’t forget, AMEX small business credit cards do NOT appear on your personal credit report. That’s one of the reasons several Million Mile Secrets team members got this card!