Amex Business Platinum card review: A 120,000-point bonus and premium benefits worth far more than the annual fee

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Bottom line: The The Business Platinum Card® from American Express is a premium small-business card with an elevated bonus and top-notch benefits (with a premium annual fee to match). It’s an excellent offer if you like earning Membership Rewards points and you can maximize the bonus spending categories and perks – but be sure to assess whether the annual fee is worth it for you before you commit.

The Business Platinum Card® from American Express

Review: Is the Amex Business Platinum the best card for you?

If you’re a small-business owner looking for a premium card with valuable benefits and rewards that are easy to earn and redeem, The Business Platinum Card® from American Express is an excellent choice.

The Amex Business Platinum card just got a makeover, adding statement credits for wireless, Indeed, and Adobe purchases and new 1.5x bonus categories. There’s an increased welcome bonus as well – you can earn The Business Platinum Card® from American Express.

In addition, new cardholders receive a 0% APR for the first 12 months from account opening on purchases eligible for Pay Over Time, then a The Business Platinum Card® from American Express APR.

While the card currently comes with a $595 annual fee (See Review), this will increase to $695 on January 13, 2022, for new and existing cardholders. That said, it could be well worth it if you can make the most of perks like up to $400 per calendar year in statement credits toward U.S. Dell purchases** (increased from up to $200 a year), up to $120 per calendar year in wireless credits, up to $200 in airline incidental fee credits**, and airport lounge access.

Read more: The best American Express cards available right now

The minimum spending requirement to unlock the bonus is significant, but it’s doable for lots of small businesses – and once you’ve completed it, you’ll have at least 135,000 American Express Membership Rewards points (from the bonus and spending).

Based on Insider’s points and miles valuations, Amex Membership Rewards points are worth, on average, 1.8 cents apiece – so with 120,000 points, you could potentially get $2,160 or more in value, depending on how you redeem them.

When you’re evaluating the The Business Platinum Card® from American Express, be sure to compare it to other small-business cards that offer good welcome bonuses and spending categories. Depending on your typical business expenses and need for premium perks, cards like the Ink Business Preferred® Credit Card, Ink Business Cash® Credit Card, or Ink Business Unlimited® Credit Card could be a better fit.

We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

Comparison: Amex Business Platinum vs other premium Amex cards

The Business Platinum Card® from American Express

The Platinum Card® from American Express

American Express® Gold Card

Annual fee

The Business Platinum Card® from American Express

The Platinum Card® from American Express The Platinum Card® from American Express – Rates & Fees

American Express® Gold Card American Express® Gold Card – Rates & Fees

Rewards rate

5x points on flights and prepaid hotels booked through Amex Travel

1.5x points on each eligible purchase of $5,000 or more, and on eligible purchases in the US at electronics goods retailers, software, and cloud service providers, shipping providers, and on construction materials and hardware supplies (on up to $2 million in combined purchases per year, then 1x)

1 point per dollar on everything else

5x points on airfare purchased directly through the airline, and on flights and hotels booked through Amex Travel***

1 point per dollar on everything else (Note: New cardmembers can earn 10x points on eligible purchases at U.S. Gas Stations and U.S. Supermarkets, on up to $15,000 in combined purchases, during the first 6 months of card membership)

4x points at restaurants, and at U.S. supermarkets*

3x points on flights booked directly through the airline or Amex Travel

1 point per dollar on everything else

Welcome bonus

The Business Platinum Card® from American Express

The Platinum Card® from American Express

American Express® Gold Card

Statement credits

Up to $200 in airline fee credits each calendar year

Up to $400 in U.S. Dell credits each calendar year

Global Entry or TSA PreCheck application fee credit

Up to $120 in credits for U.S. wireless providers each calendar year

Up to $360 in Indeed credits each calendar year

Up to $150 in Adobe credits each calendar year

$179 per year in credits for CLEAR membership

Up to $200 in airline fee credits each calendar year

Up to $100 in Saks credits** each calendar year

Global Entry or TSA PreCheck application fee credit

$179 per year in credits for CLEAR membership

Up to $200 in credits per year toward prepaid hotel bookings through Amex Fine Hotels and Resorts or The Hotel Collection

Up to $240 in annual credits (up to $20 per month) toward eligible digital subscriptions*****

$12.95 in credits each month toward Walmart+ membership

$300 statement credit toward a purchase of SoulCycle At-Home Bike online

Up to $120 in dining credits each calendar year**

Other benefits

35% points rebate when you redeem points for first- or business-class tickets, or for any fare with your selected airline, through Amex Travel (up to 500,000 points back per calendar year)

Gold elite status with Hilton and Marriott**

Airport lounge access (Priority Pass**, Centurion lounges, and more)

Amex Fine Hotels and Resorts (benefits at exclusive luxury properties)

The Hotel Collection (property credits and upgrades)

Cell phone protection

Secondary car rental insurance

Trip cancellation/interruption insurance

Baggage insurance

Trip delay insurance

Return protection

Purchase protection

Extended warranty

Premium Global Assist Hotline

Discounts and bonuses through Amex Offers**

Premium Private Jet access

Global Dining Collection by Resy

Up to $200 in Uber cash** each calendar year

Gold elite status with Hilton and Marriott (enrollment required)

Airport lounge access (Priority Pass, Centurion lounges, and more)

Amex Fine Hotels and Resorts (benefits at exclusive luxury properties)

The Hotel Collection (property credits and upgrades)

Cell phone protection

Secondary car rental insurance

Trip cancellation insurance

Baggage insurance

Trip delay insurance

Return protection

Purchase protection

Extended warranty

Premium Global Assist Hotline

Discounts and bonuses through Amex Offers**

Up to $120 in Uber Cash each calendar year****

The Hotel Collection (property credits and upgrades)

Secondary car rental insurance

Baggage insurance

Trip delay insurance

Purchase protection

Extended warranty

Global Assist Hotline

Discounts and bonuses through Amex Offers**

Foreign transaction fee

No The Business Platinum Card® from American Express – Rates & Fees

No The Platinum Card® from American Express – Rates & Fees

No American Express® Gold Card – Rates & Fees

Review

Amex Platinum card review

Amex Gold card review

*on up to $25,000 spent at U.S. supermarkets per calendar year, then 1x

**up to $10 in statement credits per month when you use the Amex Gold card at Grubhub, Seamless, The Cheesecake Factory, Ruth’s Chris Steak House, Boxed, and participating Shake Shack locations. Enrollment required.

***Note: Starting January 1, 2021, the 5x points will apply up to $500,000 on flights booked directly with airlines or with American Express Travel per calendar year

****up to $10 in Uber Cash per month (this is only applicable to U.S. Eats orders and Rides, and the Gold Card needs to be added to the Uber app to receive the Uber Cash benefit)

Comparison: Amex Business Platinum vs other small-business cards

The Business Platinum Card® from American Express

Ink Business Preferred® Credit Card

Capital One Spark Miles for Business

Annual fee

The Business Platinum Card® from American Express

Ink Business Preferred® Credit Card

Capital One Spark Miles for Business

Rewards rate

5x points on flights and prepaid hotels booked through Amex Travel

1.5x points on each eligible purchase of $5,000 or more, and on eligible purchases in the US at electronics goods retailers, software, and cloud service providers, shipping providers, and on construction materials and hardware supplies (on up to $2 million in combined purchases per year, then 1x)

1 point per dollar on everything else

3x points on shipping purchases, advertising purchases on social media sites and search engines, internet, cable, and phone services, and travel*

1x points on all other purchases

2x miles on every purchase

Welcome bonus

The Business Platinum Card® from American Express

Ink Business Preferred® Credit Card

Capital One Spark Miles for Business

Statement credits

Up to $200 in airline fee credits each calendar year

Up to $200 in U.S. Dell credits each calendar year

Global Entry or TSA PreCheck application fee credit

Up to $120 in credits for U.S. wireless providers each calendar year

Up to $360 in Indeed credits each calendar year

Up to $150 in Adobe credits each calendar year

$179 per year in credits for CLEAR membership

N/A

Up to $100 credit toward the Global Entry or TSA PreCheck application fee

Other benefits

35% points rebate when you redeem points for first- or business-class tickets, or for any fare with your selected airline, through Amex Travel (up to 500,000 points back per calendar year)

Gold elite status with Hilton and Marriott**

Airport lounge access (Priority Pass**, Centurion lounges, and more)

Amex Fine Hotels and Resorts (benefits at exclusive luxury properties)

Cell phone protection

Secondary car rental insurance

Trip cancellation/interruption insurance

Baggage insurance

Trip delay insurance

Return protection

Purchase protection

Extended warranty

Premium Global Assist Hotline

Discounts and bonuses through Amex Offers**

Premium Private Jet access

Global Dining Collection by Resy

Cell phone protection

Primary car rental insurance (when renting for business purposes)

Trip cancellation/interruption insurance

Extended warranty

Purchase protection

Travel and emergency assistance services

Roadside dispatch

Car rental insurance (primary when renting for business purposes)

Extended warranty

Purchase protection

Roadside assistance

Foreign transaction fee

No

No

No

Review

Ink Business Preferred card review

Capital One Spark Miles for Business card review

*the Ink Business Preferred® Credit Card earns 3x points on the first $150,000 in combined purchases spent each account anniversary year in these categories (then 1x)

How to earn points with the Amex Business Platinum card

The The Business Platinum Card® from American Express earns Membership Rewards points, and its earning structure offers bonus points for large purchases and in categories that appeal to small businesses. You’ll earn:

5x points on flights and prepaid hotels booked through Amex Travel1.5x points on each eligible purchase of $5,000 or more1.5x points on eligible purchases in the US at electronics goods retailers, software, and cloud service providers 1.5x points at eligible US shipping providers1.5x points on eligible US purchases of construction materials and hardware supplies1 point per dollar on everything else

The 1.5x category is capped at a total of $2 million in purchases combined each year – after that, you’ll earn 1 point per dollar in these categories.

What counts as an eligible purchase in the bonus categories?

Electronics goods retailers, software, and cloud service providers

Amex defines electronics retailers as those in the primary business of selling a range of electronic goods (like Dell Technologies or NewEgg), and software and cloud service providers as in the primary business of selling programs and data storage (such as Adobe and Salesforce).

However, some merchants that sell electronics, software, and cloud services along with other items will not qualify. These include:

Online marketplaces that provide a variety of products outside of electronic goods (like Amazon and eBay)Superstores (such as Target and Walmart)Purchases from wireless telephone and cellular service providers (like AT&T and Verizon)Application purchases via aggregator platformsConsulting and management services

Shipping providers

Shipping providers include US courier, postal, and freight shipping services, so merchants like FedEx, UPS, and the United States Postal Service all count.

However, you won’t earn bonus rewards for shipping costs attached to retail purchases or on moving services, local trucking, or trash removal.

Construction materials and hardware supplies

To earn bonus points in this category, you must make your purchase directly at US construction material or hardware supplier. These are retailers in the primary business of selling a range of items like raw materials (lumber, concrete, metals) and building supplies (hardware, flooring, paint, plumbing, AC/heating, electrical).

Example merchants that qualify include Builders FirstSource, Lowe’s, Northern Tool, and Sherwin-Williams. Superstores like Walmart and Target or warehouse clubs like BJ’s and Costco are not included.

How to use Amex Membership Rewards points

The The Business Platinum Card® from American Express earns flexible American Express Membership Rewards points – and while the Membership Rewards program is usually associated with travel, there are plenty of other ways to redeem your points.

Read more: How to earn, redeem, and maximize Amex Membership Rewards points

You’ll typically get the most value from your points when you transfer them to Amex’s airline and hotel partners, like Delta, Marriott, and British Airways. If you’d rather not fuss with award charts and blackout dates, you can also use your points to book airfare, hotels, rental cars, and more through American Express Travel. Cardholders also receive access to airfare discounts through the Amex International Airline Program.

There’s one The Business Platinum Card® from American Express benefit that can be very lucrative for award travelers. Cardholders receive a 35% points rebate when they redeem points for first- or business-class tickets, or for any fare with their selected airline through Amex Travel (up to 500,000 points back per calendar year). Normally, Amex points are worth 1 cent each toward airfare booked through the Amex portal, so this rebate effectively boosts their value to 1.54 cents apiece.

Read more: You can use Amex Pay with Points to book flights without blackout dates – and some cardholders can receive up to 35% of their points back

If you’re staying close to home, you can still use Amex Membership Rewards points for lots of non-travel redemptions, including:

Statement credits to cover charges on your account (0.6 cents per point)Merchandise – pay at checkout with Amazon, Best Buy, Walmart, and other merchants (0.7 cents per point)Food delivery with GrubHub and Seamless (0.7 cents per point)New York City taxi fare (1 cent per point)Charity donations (0.7 cents per point)Gift cards (1 cent per point)Merchandise (point value varies – usually around 0.5 cents per point)

Benefits and features

The The Business Platinum Card® from American Express is packed with valuable benefits that can help offset its annual fee – including statement credits, purchase protections, and travel perks that can make your journey more comfortable. Here are some of the card’s major features:

Up to $400 in Dell statement credits each calendar year

The Business Platinum Card® from American Express members are eligible for up to $400 in statement credits toward U.S. Dell purchases each calendar year once they enroll their card. This is divided into two $200 credits: up to $200 between January and June, and up to $200 between July and December.

Read more: How to use the Amex Business Platinum Dell credit

Up to $200 in annual airline incidental fee credits

Like the personal Platinum Card, the The Business Platinum Card® from American Express comes with up to $200 in airline incidental fee credits each calendar year on an airline you choose. You can use the airline fee credit toward expenses like checked bag fees, seat selection, pet fees, and inflight food and drink, but airfare is excluded.

Read more: 6 reasons why I have both the Amex Platinum and Amex Business Platinum – despite their high annual fees

Up to $120 per year in wireless credits

The Business Platinum Card® from American Express cardholders can receive up to $10 per month in statement credits toward purchases made from any US wireless telephone provider (up to $120 per calendar year).

Using the The Business Platinum Card® from American Express to pay your cell phone bill is already a smart move, because it’s one of the Amex cards that offer cell phone protection when you use it to pay your monthly bill.

Up to $360 per year in Indeed credits

If your small business spends money on finding new employees, a new Indeed credit on the The Business Platinum Card® from American Express can save you up to $360 per year.

Cardholders can receive up to $90 per quarter in statement credits toward all Indeed hiring and recruiting products and services.

Up to $150 per year in Adobe credits

The The Business Platinum Card® from American Express offers up to $150 per calendar year in statement credits toward select Adobe purchases, including Adobe Creative Cloud and Acrobat Pro DC.

$179 CLEAR credit

CLEAR is an expedited security screening program that can save you time waiting in line at select US airports and stadiums. A CLEAR membership normally costs $179 per year ($119 for members of the United or Delta frequent flyer programs, and further discounts are available for elite status members), but if you pay with your The Business Platinum Card® from American Express, you’ll receive a statement credit toward the cost.

Read more: TSA Precheck isn’t worth your money – and there’s a better alternative few people consider

The downside is that CLEAR screening is only in select locations, so if the airports you travel through don’t participate, this benefit won’t be of much use to you. However, the program is also available at a handful of stadiums, so if you’re a sports fan who likes to attend live games, this could be a good deal.

Airport lounge access

The The Business Platinum Card® from American Express comes with access to the American Express Global Lounge Collection, so when you’re traveling you’ll have a comfortable place to relax and unwind, away from the hustle and bustle of the terminal. The airport lounges you can visit include:

Amex Centurion lounges: Located at more than 10 airports in the US and with one location in Hong Kong, these lounges offer complimentary cocktails, quality food created by award-winning chefs, and an upscale vibe. Delta Sky Club lounges: If you’re flying with Delta that day, you can also access over 30 Delta Sky Club locations, and enjoy snacks, complimentary soft and alcoholic drinks, premium Wi-Fi, and a quieter place to work and relax.International American Express lounges (with locations in countries like Argentina, Australia, and Mexico)Escape Lounges, with locations in the US and UKPriority Pass Select**: This is a network of more than 1,300 airport lounges around the world. When you activate the complimentary membership you’ll receive with the The Business Platinum Card® from American Express, you and two guests can access any lounge location (subject to capacity limits). At a minimum, lounges typically offer free snacks, drinks, newspapers and magazines, and Wi-Fi.

Hotel elite status with Hilton and Marriott

The The Business Platinum Card® from American Express comes with Marriott Bonvoy and Hilton Honors Gold elite status. Once you enroll, you’ll receive perks like upgrades, late checkout, and in Hilton’s case, free breakfast. If you stay with either chain frequently, it’s easy to get a ton of value from the status boost.

Up to $100 toward the Global Entry or TSA PreCheck application fee

TSA PreCheck and Global Entry are massive time-savers for travelers. Once approved, members can use faster airport security lanes, and you won’t have to remove shoes and light coats or remove your laptop from your bag. With Global Entry, you can use a special lane when you return to the US from overseas for faster immigration and customs clearance.

Enrolling in Global Entry is, by far, the better strategy for travelers – because when you have Global Entry, you also get TSA PreCheck benefits.

TSA PreCheck costs $85 for a five-year membership, and Global Entry charges $100. American Express will provide a credit for those fees every four years (four and a half years for TSA PreCheck).

Amex Fine Hotels & Resorts and The Hotel Collection

The Business Platinum Card® from American Express members have access to the Amex Fine Hotels & Resorts program through Amex Travel. These luxury properties offer perks including room upgrades, free breakfast, late checkout, free Wi-Fi, and a unique amenity at each hotel, like a property credit to use at spas or restaurants.

Cardholders can also book upscale properties through The Hotel Collection and receive benefits that include property credits and room upgrades.

Cell phone protection

Amex recently added cell phone protection to a number of premium cards, including the The Business Platinum Card® from American Express.

Read more: More credit cards than ever offer complimentary cell phone insurance – here are the best options for paying your wireless bill

When you use the card to pay your wireless bill, you’re covered for the cost of repair or replacement if your phone is damaged or stolen, up to $800 per claim and up to two claims per 12-month period. There’s a $50 deductible, and you must file your claim within 90 days of the incident.

Car rental insurance

The The Business Platinum Card® from American Express offers secondary rental car insurance when you use the card to pay for your rental in full and decline the rental company’s collision damage waiver. Coverage is for theft or damage only (not liability) and some rentals, vehicle types, and countries are excluded, so be sure to read the terms.

Trip cancellation and interruption insurance

If you paid for a covered trip with the The Business Platinum Card® from American Express and it’s canceled or cut short for a covered reason, you could be reimbursed up to $10,000 per trip and up to $20,000 per card per consecutive 12-month period.

Baggage insurance

When you pay for a covered trip with your The Business Platinum Card® from American Express, you can be covered for baggage loss or damage, up to $2,000 per person for checked bags and $3,000 per person for carry-on luggage.

Read more: The best credit cards with travel insurance

There are exclusions for high-risk items and some states have different limits, so check the terms and conditions for specific details.

Trip delay insurance

You can get reimbursed up to $500 for meals, lodging, toiletries, medication, and other personal items if you’ve paid for a covered trip with your The Business Platinum Card® from American Express and it’s delayed by six hours or more, up to two times per consecutive 12-month period.

Return protection

If you purchased an eligible item with the The Business Platinum Card® from American Express and the merchant won’t accept your return, you’re may get a refund of the full purchase price (excluding shipping and handling), up to $300 per item and a maximum of $1,000 per calendar year.

Read more: Amex Platinum vs. Amex Business Platinum: Both offer an excellent welcome bonus and top-notch perks -here’s how to decide which is best for you

Purchase protection

When you pay for an eligible item with the The Business Platinum Card® from American Express, you can be covered for loss or damage up to 90 days from the date of purchase, up to a maximum of $1,000 per occurrence and $50,000 per year.

Extended warranty

Cardholders can also get an extended warranty on eligible items when they use their The Business Platinum Card® from American Express to pay – up to one additional year added to eligible US manufacturers warranties of five years or less.

Premium Global Assist Hotline

The The Business Platinum Card® from American Express comes with an underrated perk that can be a lifesaver if you have an emergency while you’re away from home. Cardholders get access to Amex’s Premium Global Assist Hotline, which can help arrange things like passport replacement, medical referrals, and translation services.

Read more: An emergency flight to the hospital could set you back $40,000 – unless you have one of 2 credit cards with medical evacuation coverage

The service itself is complimentary, but you may be responsible for any third-party costs. One big difference from the regular (versus premium) Global Assist Hotline is emergency medical evacuation coverage – Amex may provide emergency medical transportation assistance at no cost if it’s approved and coordinated by Premium Global Assist Hotline.

Premium Private Jet access

Cardholders are eligible for up to 40% off a Premium Private Jet Program membership with Wheels Up, a private jet charter company. You can also get up to $2,000 in initial year flight credits toward private charters.

Exclusive Global Dining Access by Resy

If you’re a foodie and enjoy dining at high-end establishments, the The Business Platinum Card® from American Express offers exclusive reservations at some of the world’s most coveted restaurants. Amex says Resy will also offer cardholders access to premium events and other perks.

Amex Offers

Like other American Express cards, the The Business Platinum Card® from American Express includes targeted discounts and bonus rewards at participating merchants through Amex Offers**.

The Business Platinum Card® from American Express

Fees and costs

Although the card carries a $595 annual fee right now, this will increase to $695 on January 13, 2022, for new and existing cardholders.

However, you can effectively offset the yearly cost just by maximizing the Dell, airline incidental fee, and wireless credits (up to $720 total combined). Beyond that, other credits and perks like airport lounge access and hotel elite status can be worth hundreds if you make use of them.

You won’t pay foreign transaction fees with the The Business Platinum Card® from American Express, which can translate into big savings if your business frequently makes international purchases or if you travel overseas. Like most cards, there are fees for late and returned payments (See Review).

Read more: The best credit cards with no foreign transaction fees

With the The Business Platinum Card® from American Express, you’re required to pay your balance in full each month. However, the card offers a Pay Over Time option which allows you to carry a balance, with interest, on purchase amounts of $100 or more. If you’re a new cardholder, you’ll get a 0% APR for the first 12 months from account opening on purchases eligible for Pay Over Time, then a The Business Platinum Card® from American Express APR.

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