Is the American Express Business Platinum Card Worth the Annual Fee for YOU?

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Is the American Express Business Platinum Card Worth the Annual Fee for YOU?

DevonIs the American Express Business Platinum Card Worth the Annual Fee for YOU?Million Mile Secrets Team

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The Business Platinum® Card from American Express  is offering up to a 75,000 AMEX Membership Rewards point welcome bonus after meeting tiered minimum spending requirements.

The AMEX Business Platinum has an annual fee of $450 and it is NOT waived for the first year (See Rates & Fees).  BUT it is easy to offset the annual fee from the welcome bonus, perks, and benefits!

Everyone will find different value from the benefits of this card, so let’s look at each one to see if this card is worth it for you.

Is the American Express Business Platinum Card Worth the Annual Fee for YOU?
Offset the Annual Fee by Flying to Paris in First Class

AMEX Business Platinum 75,000-Point Offer

Apply Here:   American Express Business Platinum Card

Our Review of the AMEX Business Platinum

The AMEX Business Platinum card offers the following welcome bonus when you meet the tiered minimum spending requirements.

You’ll earn:

The card also comes with perks like:

There are so many great benefits that come with this card!  Let’s walk through them so you know how much value you could get from each one!

The Welcome Bonus Can Take You Nearly Anywhere!

You can travel almost anywhere in the world with the 75,000 AMEX Membership Rewards points you’ll earn from the welcome bonus after meeting the tiered minimum spending requirements!  You could:

It’s effortless to find valuable ways to use the welcome bonus that far offset the annual fee.  If you have a bucket list item you want to check off, chances are you can get wherever you need to go using AMEX Membership Rewards directly through Pay with Points or by utilizing transfer partners.  Use our series of articles above for inspiration and ideas of how you could use your well earned welcome bonus!

The Value From Perks and Benefits Easily Offset the Annual Fee!

Priority Pass and Centurion Lounge Access

Our team members and readers love Priority Pass!  They’ve been able to get free meals and beverages by taking advantage of access to over 1,200 lounges and 8 restaurant partnerships.  There are even new restaurant partnerships that offer up to a $28 discount on your meal!

Priority Pass Prestige, which is complimentary with your card, is worth $399 each year on its own.  But you get this membership free as long as your AMEX Business Platinum is active.  Being a cardholder even allows 2 free guests so it’s actually better than the Priority Pass Prestige!

Priority Pass gives you great value and enrollment is automatic.  Your card should arrive in 10 to 14 business days.  If not, call customer service on the back of your card or visit this website for help.

Is the American Express Business Platinum Card Worth the Annual Fee for YOU?
Get Free Priority Pass Membership to Over 1,200 Lounges Globally

Having the AMEX Business Platinum also gives you access to Centurion Lounges.  There are 8 open and 3 more opening soon!  Even with some recent restrictions, Centurion Lounges offer a myriad of services and amenities for free.  Subject to availability, you can get free Wi-Fi, signature cocktails, and food prepared by locally renowned chefs.

Million Mile Secrets team members save hundreds each year by eating and drinking free in lounges because airport terminals generally have inflated prices for food and drinks.  So if you visit Centurion Lounges often, it’s easy to offset the card’s annual fee.

Centurion Lounges are only accessible by global AMEX Platinum Card® and Centurion® Members so you’ll get a more intimate experience here than in Priority Pass Lounges.

Is the American Express Business Platinum Card Worth the Annual Fee for YOU?
The Centurion Lounge Offers Free Food and Beverages as Well as Other Amenities!

35% Points Back Using Pay With Points and $200 Statement Credits With a Select Airline

The biggest direct offset to the annual fee is the $200 statement credit each calendar year for incidentals (luggage fees, in-flight food & drink, etc.) purchased directly through an airline of your choice.  Select 1 of 9 major domestic airlines from the AMEX online benefits page when logged into your account.  You can choose from:

  • Alaska Airlines
  • American Airlines
  • Delta
  • Frontier Airlines
  • Hawaiian Airlines
  • JetBlue
  • Southwest
  • Spirit
  • United Airlines

By receiving the full $200 statement credit, you’ll have essentially only spent $250 on the annual fee ($450 annual fee – $200 incidental credit).  Some people report that smaller gift cards under $50 may initiate the statement credit, but according to the rules, gift cards do not count as incidentals.

Is the American Express Business Platinum Card Worth the Annual Fee for YOU?
Use Pay With Points to Get 35% of Your Points Back

35% of your points spent will also be returned for ANY First Class or Business Class flight booked through the AMEX travel portal using Pay With Points.  Additionally, you’ll get 35% of your points back for all flights booked with your selected airline through the AMEX travel portal using Pay With Points.  You’ll get reimbursed up to 500,000 points per calendar year!  You can change your selected airline once in January each calendar year.

AMEX Membership Rewards points are worth 1 cent each when you Pay with Points.  Every flight purchased through the AMEX travel portal also earns you points with the airline loyalty program you’re booking.  The 35% rebate can easily boost your points value to effectively ~1.5 cents each from initial 1 cent they were worth!

Receive up to $100 in Statement Credits Applying for Global Entry or TSA PreCheck

The AMEX Business Platinum offers a Global Entry or TSA PreCheck statement credit every 4 years when you pay using your card.  Each program membership lasts 5 years so you can always be part of one of the programs, if not both!

Global Entry costs $100 and TSA PreCheck costs $85.  Global Entry is generally preferred over than TSA PreCheck because with Global Entry, you’ll usually get TSA PreCheck anyway.  Plus Global Entry gets you shorter lines and faster screening when you return to the US on an international trip.

Is the American Express Business Platinum Card Worth the Annual Fee for YOU?
Use Your Statement Credit From TSA PreCheck or Global Entry Every 4 Years to Balance Out the Annual Fee

If you already have Global Entry or TSA PreCheck, you can use your card to pay for a family member or friend’s application and still get the credit!

Activate Complimentary Elite Status for Extra Perks and Savings

You’ll need to head to directly to the AMEX benefits tab in your online account to register for complimentary elite status with 6 hotel and rental programs!  As an AMEX Business Platinum cardholder, you’re eligible for:

  • Hilton Honors Gold
  • Marriott Gold
  • Starwood Gold Elite
  • Hertz Gold Plus Rewards
  • National Executive Club
  • Avis Preferred

Hotel elite status offers perks such as late checkout, in addition to free breakfast at most hotels and upgrades when available.  Team member Jasmin was able to get an upgrade to a better room, breakfast worth $140, and other welcome amenities with her Hilton Honors Gold status at the Conrad Tokyo!

With Complimentary Hilton Gold Status, You Could Enjoy an Incredible Free Breakfast at Hotels Like the Conrad Tokyo. Team Member Jasmin and Her Kids Saved $140 Here

Your AMEX Business Platinum also earns you rental car status that provides free upgrades when available, grace periods for late returns, discounts, and more!  For example, National offers a product called the Executive Aisle where you can pick any car from the aisle and you only pay the midsize rental rate.  I recently went to Minnesota where I picked a small SUV in the Executive Aisle so I saved ~$10 per day with this feature!

Free Internet Passes, Access to Global Hotpots, and Free 2-Day Shipping

Gogo has a one-of-a-kind partnership with AMEX cardholders.  AMEX Business Platinum cardholders receive 10 free inflight internet passes each calendar year!  An all-day pass from Gogo costs $19 and the 1-hour pass is $7.  Your Gogo pass will last from takeoff to landing of 1 flight segment so we’d peg the value of each free inflight pass between $7 and $14.

So long as you have your card, you’ll also get ShopRunner membership.  ShopRunner is like Amazon Prime but for over 100 retail stores!  You get free 2-day shipping and free returns with your online orders through participating retailers.  An annual membership for ShopRunner is $79.

Is the American Express Business Platinum Card Worth the Annual Fee for YOU?
Boingo Has a Specific Plan Just for AMEX Platinum Cardholders

Boingo Wi-Fi has more than 1,000,000 global hotspots, free for AMEX Business Platinum cardholders!  There’s an AMEX sponsored Boingo page where you’ll need to sign-up for this service.  Boingo sells a similar service for $39 per month but you’ll get this complimentary with your card!

Exclusive Hotel Perks Booked Directly Through AMEX

AMEX has 2 different exclusive hotel programs that give great value as an AMEX Business Platinum cardholderThe Hotel Collection and The Fine Hotels & Resorts program.

Is the American Express Business Platinum Card Worth the Annual Fee for YOU?
The Benefits of Booking With AMEX Fine Hotels & Resorts

Amex’s Fine Hotels & Resorts program benefits include noon check-in, a room upgrade if available, daily breakfast, and a $100 credit for your unique property amenity.  Team member Keith was able to get a $200 room upgrade$100 credit toward dinner, and free breakfast (worth $75!) by booking through the AMEX Fine Hotels & Resorts portal.  Complimentary 3rd or 4th nights free are available at certain locations like the Conrad Hong Kong!

The Hotel Collection offers a smaller but similar suite of perks as AMEX Fine Hotels & Resorts.  Each booking of 2 consecutive nights or more through the AMEX Hotel Collection portal will get you a $75 credit towards a qualifying dining, spa, or resort activity.  You can also get room upgrades at check-in when available.

Travel Insurance, Extended Warranty, and Purchase Protection

AMEX Premium Roadside Assistance offers emergency services up to 4 times a year complimentary with AMEX Business Platinum.  These services include towing up to 10 miles, changing a flat, or jump-starting a battery.  A similar AAA membership in the Northeast costs $52 per year but only covers with towing up to 3 miles.

Is the American Express Business Platinum Card Worth the Annual Fee for YOU?
AAA Memberships Can Be Costly…But You’ll Get Comparable Features to the Basic Membership for Free With Your AMEX Business Platinum!

AMEX even provides Travel Accident Insurance and a Baggage Insurance Plan.  Just note that you have to charge the entire fare to your card to be eligible for these services.

AMEX is improving its Extended Warranty and Purchase Protection features.  Starting August 1, 2018, you’ll get extended warranty coverage for 2 years instead of the current 1 year as well as 120 days to file a purchase protection claim, up from 90 days.  A 2-year extended warranty on an electronic product from Target valued at $450 to $499, costs $63.

No Foreign Transaction Fees

You will never incur any foreign transaction fees with the AMEX Business Platinum card (See Rates & Fees).  While this is the norm for most high-end travel credit cards, some major banks still charge ~3% for foreign transactions.

Dining Experiences and The AMEX Concierge

The American Express Platinum Service, also known as the AMEX Concierge, can assist you with just about anything.  Their number is 800-525-3355.  The concierge can help you with many tasks, including buying tickets, finding restaurants, booking travel reservations, finding a perfect gift, or for travel research.

The concierge can also help you explore The AMEX Global Dining Collection.  This is a unique program for Platinum and Centurion cardholders that gives you the opportunity to enjoy once-in-a-lifetime culinary experiences.

Bottom Line

Everyone will find different value from the AMEX Business Platinum card because it offers so many different perks and benefits to the cardholder.  The $450 annual fee is not waived for the first year, so if you find that you’re not getting the best value from this card, you can cancel hassle free by calling the bank.

The more you can take advantage of the these great benefits and find value in the perks, the more you can offset the annual fee.

For rates and fees of the Amex Business Platinum card, click here.

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Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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