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The Business Platinum Card® from American Express Review

overall rating

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The Business Platinum Card® from American Express is a premium travel card that offers luxury benefits and high rewards to big-spending small business owners. It has a $595 annual fee, but that’s offset by some statement credits and 5 points-per-dollar rewards on flights and hotel stays. It also comes with a 100,000-point bonus offer, albeit with a very high spending requirement.

The Business Platinum Card® from American Express

Overall Rating
The Business Platinum Card® from American Express
On American Express' Secured Site.
Current Offer

Earn 100,000 Membership Rewards(R) points after you spend $15,000 on eligible purchases with the Business Platinum Card within the first 3 months of Card Membership.

Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Regular APR (%) 14.24% - 22.24% variable
Annual Fee $595
Rewards Earning Rate Get 5X Membership Rewards points on flights and prepaid hotels on 1x for each dollar spent on other eligible purchases.
Cash Advance Fee This card does not offer cash advances.
how this card stacks up
When compared among all business cards in our database:
Low Fees
Security/Customer Experience
worst best

The Business Platinum Card from American Express is not one of our top-rated business credit cards. You can review our list of best business credit cards for what we feel are better options.

Full Review of the Business Platinum Card® from American Express

  • Excellent rewards value with certain travel partners

  • Impressive luxury travel benefits

  • Generous, if hard-to-earn, one-time offer

  • $595 annual fee

  • The ability to carry a balance is not assured

  • For best rewards, you must book travel with Amex

Pros Explained

  • Excellent Rewards Value with Certain Travel Partners: At 5 points per dollar spent on bookings through Amex Travel, this card presents a very compelling value on the points earning side. But with the points worth 1 cent each when used for booking travel purchases through Amex, according to Investopedia's valuation, this option doesn’t offer the highest value when redeeming. Certain Membership Rewards transfer partners offer better redemption value options, such as Hilton Hotels (2 cents per point) and British Airways (2.1 cents per point). However, that valuation of 1 cent per point doesn’t reflect a valuable plus to this card: the awarding of 35% of your points back when you use your points to book qualifying fares through the Amex travel portal, up to 500,000 Membership Rewards per year.
  • Impressive Luxury Travel Benefits: This card has a long, even unprecedented, list of luxury benefits and statement credits. Cardholders get an annual credit of up to $200 against incidental airline fees such as baggage charges on one eligible airline you must select each year, up to two $100 Dell statement credits, and a fee credit for the Global Entry or TSAPrecheck programs with enrollment. For traveling in style, you'll get access to the American Express Global Lounge Collection; Gold Elite and Honors Gold status, respectively, with the Marriott Bonvoy and Hilton Honors programs with enrollment; and complimentary benefits at fine hotels and resorts. There's also a travel service that provides custom itineraries and tailored recommendations.
  • Generous, if Hard-to-Earn, One-Time Offer: The one-time offer—a total of 100,000 points—is one of the highest available among small business cards. We value those points at $1,000 when rewards are used to book flights through American Express Travel, more than enough to justify the annual fee for the first year. But the spending required to earn the bonus could be daunting. To earn 100,000 Membership Rewards points, you'll need to spend $15,000 within the first three months. Spending that much in so little time—let alone paying it back—would be challenging indeed for many businesses.

Cons Explained

  • $595 Annual Fee: As one of the highest annual fees of any business card, this card’s $595 tab represents a major drawback for many small businesses. Unless your company spends heavily on travel, its most rewarding category, justifying the fee could require massive spending on other purchases, which earn only 1 point per dollar spent. 
  • Carrying a Balance Is Not Assured: As with the original Amex cards, the Business Platinum from American Express was ostensibly a charge card, with its balance due in full at the end of each billing cycle. There is now a Pay Over Time option, but that comes with caveats. Only expenditures of $100 or more are eligible to be carried over to the next cycle or beyond. You must apply to add Pay Over Time after you get the card, at which point a limit for the balance you can carry is determined—and it might be less than the card’s spending limit, Amex warns.
  • For Best Rewards, You Must Book Travel With Amex: Earning 5 points per dollar rewards on flights and prepaid hotel stays comes with the caveat that in order to earn those rewards, you’ll have to use for booking. You can't book, for instance, on a third-party site or directly with the airline or hotel and still earn 5 points per dollar rewards. 

This Card is Best For

  • Avatar for Rewards Strategist Persona
    Seeks to maximize points or miles earnings across spending categories
    Rewards Strategist
  • Avatar for Frequent Flyer Persona
    Flies often for business or leisure
    Frequent Flyer
  • Avatar for Frequent Diner Persona
    Dines out regularly while traveling or in home city
    Frequent Diner
  • Avatar for Business Owner Persona
    Earning a primary or side income from a small business
    Business Owner

The Business Platinum Card® from American Express is a good fit for regular business travelers with big budgets that match its big annual fee. Certainly, if you can afford to spend the required $15,000 within three months to earn its hefty one-time offer and to pay the balance off immediately, which is mostly likely necessary—the $595 annual fee probably isn’t much of a deterrent to getting this card.

It's also a good fit for business owners who prefer to avoid interest charges by paying their bill in full each month. There is an option to enroll in the Pay Over Time feature, and to carry over certain purchases but the program may not be available to you immediately, and may not cover your full spending limit.

In addition, it helps to be comfortable navigating the Amex Membership Rewards program and its redemption options. The closest thing you can get to earning cash back is by redeeming for gift cards, which results in a lower value per point than other options.

The Business Platinum Card® from American Express is also best used by a single company employee. That’s because cards for additional employees cost $300 each, a sum the business might be hard-pressed to justify based on the rewards from additional spending by those cardholders.    

Business Platinum Card® from American Express Bonus Offer 

New cardholders who spend $15,000 within the first three months of card membership receive 100,000 Membership Rewards points. 

We value this offer at $1,000, according to our most recent valuation of Membership Rewards points when redeemed for travel through Amex. That's one of the highest one-time offers available, but earning it all comes with a very high spending requirement. Charging $15,000—or $5,000 per month—to the card within three months may be out of reach for many cardholders.

Rewards Earning Details

Cardholders earn 5 points per dollar spent by booking flights and hotel stays through American Express Travel. 

Eligible purchases outside flights and hotels of $5,000 or more earn 1.5 miles per dollar spent up to $1 million per year, while all other purchases each 1 point per dollar.

Rewards Redemption Details

In order to redeem points, you must be enrolled in the Amex Membership Rewards program. After enrolling, American Express offers several ways to collect on your rewards. You can book travel through American Express, get gift cards, shop through the Ames portal, pay with points at select merchants, and transfer points to a partner loyalty program.

You'll generally get the best value by booking travel by transferring points to the loyalty program of certain Membership Rewards transfer partners, like Hilton or British Airways. However, according to our valuations, each Membership Reward point is only worth 1 cent when redeemed for travel through

That valuation doesn't take into consideration that with this card you can get 35% of your points back (up to 500,000 points per year) when used to book an eligible flight through American Express Travel. 

All other options can yield less value. You can use points, typically, at a value of 0.7 cents apiece, at the checkouts of Amazon, BestBuy, and others or you can use them, at 0.6 cents each, to erase charges from your account statement.

Transferring Points

Membership Rewards points can be transferred to the loyalty programs of any of Amex's airline and hotel partners. The list includes popular programs like Delta SkyMiles, Virgin Atlantic Flyingclub, Hilton Honors, Marriott Bonvoy, and more.

Transfers may come with a fee of $0.0006 per point, with a maximum fee of $99. That's an unusual levy among card issuers. However, American Express may offer you the option to redeem points to cover that cost. And even despite this expense, transferring points can be a worthwhile option that earns you greater value.

How to Maximize Your Rewards

Getting the most from this card begins with using it for all your spending on flights and hotel stays; it’s unlikely you’ll get a better rewards return than the 5 points per dollar you will earn on these purchases. In the event that you ever have to charge $5,000 or more to a business card, consider doing so to this card, where they will earn 1.5 points per dollar. While that isn’t the best rewards rate out there for general spending, it's better by half than the card’s default rate of 1 point per dollar.

Even if you can't sustain high spending on the card, try to charge at least $15,000 to it in the first three months of membership, if your business' finances permit it. That way, you'll earn the card's introductory bonuses of 100,000 points, which we estimate will easily justify the card’s annual fee for the first year if the points are used to buy travel from Amex.  

Take full advantage of this card's many travel benefits. Apply for either the Global Entry or TSA Precheck program with the provided credit. Check bags without worrying about the cost, at least up to the $200 annual statement credit for incidental airline fees. If you’re shopping for a PC, consider buying a Dell and using one of the two $100 statement credits for that brand.

Average Case

Since the Business Platinum Card® from American Express is primarily a card for business high rollers who travel a lot, our typical owner is a road warrior. Each month, in our scenario, she takes two round-trip domestic flights, which together cost about $8,400 per year, based on the average cost of such flights. 

Let's further assume those trips require staying four nights per month in a hotel, with bills that total about $7,200 per year. By our calculations, she'd earn 78,000 points in a calendar year. Those points, we estimate, are worth $780, provided they’re used to redeem for more flights, hotels, and other travel expenses from Amex. That's also more than enough to justify the steep annual fee.

Aspirational Case

In addition to your spending in the scenario above, let's say our road warrior also uses this card to pay for marketing, vehicle expenses, office supplies, professional fees, and other miscellaneous expenses that total $2,000 per month. Then let's add one major $20,000 purchase per year. 

Collectively, that further use would earn an additional 44,000 points to your annual total, worth $440. In total, along with the 78,000 points worth $780 in the first scenario, you'd have 120,000 points worth $1,220 for travel booked through Amex.

Adding employee member cards to your account, in some cases, can also help you boost your rewards. But this card charges $300 for each additional card. Before you add employee cards, make sure their users would spend enough to break even on the additional annual cost.

Platinum Business American Express Card's Outstanding Benefits

  • $200 airline fee credit with enrollment
  • Up to $200 in two annual $100 Dell statement credits
  • $100 credit to Global Entry or $85 to TSAPrecheck with enrollment
  • Access to the American Express Global Lounge Collection
  • Marriott Bonvoy Gold Elite Status with enrollment
  • Hilton Honors Gold Elite Status with enrollment
  • Business Platinum card concierge
  • 35% of points returned to you when using Membership Rewards Pay with Points for airline purchases

Standard Benefits

  • Global assistance hotline
  • Car-rental collision insurance (secondary to your own policy)
  • Baggage insurance plan

Cardholder Experience

American Express ranked second out of eight issuers in J.D. Power's 2020 U.S. Small Business Credit Card Satisfaction Study, ranking only below Discover.

The Amex customer service department can be reached 24/7 by phone at 800-528-4800. Customers also have the option to log into their account and live chat with a representative. Amex is also active on social media. Questions and comments can be sent to @AskAmex on Twitter. 

Security Features

American Express offers a host of security features that are standard in the industry. Those include a monitoring system that detects fraudulent activity and alerts you in the case that unusual activity is detected. 

Amex also provides security services like pre-purchase verification and personal security keys to safeguard your information and protect your account. For both card members and non-card members, American Express provides MyCredit Guide, a service that offers a free credit score and report.

Fees to Watch out For

This card charges a $300 annual fee for each additional cardmember, and there’s a penalty APR for its Pay Over Time feature of 29.99%. All other fees are in line with industry standards.  

Our Verdict

The Business Platinum Card® from American Express is built for big-spending business owners who travel nearly constantly. At $595, the card’s annual fee is steep, but it can still pay off for businesses that spend enough in its bonus categories. If your goal is to earn points while enjoying lush travel benefits, this card could be a good fit.

Outside of its bonus categories, this card pays a low rate of 1 point per dollar on all other purchases. It could be smart, then, to pair this card with a flat-rate rewards card to use for all other spending. The American Express Blue Business Plus card might be a good choice. It earns 2 Membership Rewards per dollar spent up to $50,000 per year and has no annual fee.

If your annual travel budget isn't quite where it needs to be in order to justify the Business Platinum Card’s® annual fee, consider a card like the Business Green Rewards card. It charges a $95 annual fee that's waived for the first year and offers 2 Membership Rewards points per dollar spent on travel booked through Amex.

Next Steps
For The Business Platinum Card® from American Express
on American Express' Secured Site.
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The Business Platinum Card® from American Express
overall rating
Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Regular APR (%) 14.24% - 22.24% variable
Annual Fee $595
Rewards Earning Rate Get 5X Membership Rewards points on flights and prepaid hotels on 1x for each dollar spent on other eligible purchases.
Investopedia Credit Card Rating Methodology
Investopedia is committed to delivering the best credit card recommendations in the industry. We’ll tell you when a card is good, we’ll tell you when a card is bad, and we’ll only call a card the best if we would recommend it to our friends or family members.
Overall Star Rating Explained
To rate credit cards we objectively assess, score and weight nearly 100 individual card features which roll up into five major feature sets: fees, interest, rewards, benefits and security/customer service. Here’s how we weighted those feature sets for the overall star rating of a card:
We have applied our proprietary rating methodology to every generally-accepted credit card in the U.S. domestic market to allow consumers to make fully informed choices. It’s important to note that for our overall score that we make a number of assumptions about how you would be using your credit card:
  1. While we make no assumption as to whether balances are carried on a given card we do assign varying weights to all credit cards’ introductory APR (if present) in addition to the regular, long term purchase and balance transfer interest rates.
  2. We utilize BLS (U.S. Bureau of Labor Statistics) income and average category spending data to calculate annual earnings rates for rewards cards that offer cash back, points or miles rewards at a set rate on all spending or in consideration of bonus rewards for certain spending categories, like gasoline, groceries, restaurants or travel.
  3. We determine the maximum points value of rewards cards by dividing the points, cash back or miles required to exchange for the retail price of the most valuable redemption option (for example, in the case of a card that offers a domestic roundtrip airline ticket as a redemption option vs. another redemption option of lesser value that requires the same amount of points or miles to acquire, we would base the rewards value on the airline ticket).
  • Cards that are selected best overall in their respective categories generally feature most if not all of the following attributes:
  • Low or Reasonable Fees Credit card fees come in many forms but the primary ones involve those for annual card membership and balance transfer. There are a myriad of reward and non-reward card options that charge no annual fee but for the many that do assess an annual fee the cost is often justified by their lucrative ongoing rewards and initial signup bonuses. Balance transfer fees are occasionally waived during introductory periods with certain cards, a factor which is heavily and positively weighted in our scoring model for cards offering this benefit. When charged, balance transfer fees range between 3% - 5%, which we grade accordingly. Other standard fees can generally be avoided, such as those for paying late or taking cash advances but we rate those relative to other cards in the market for reference, though with less weight assigned
  • Competitive Interest Many cards offer 0% introductory APR on purchases and balance transfers for varying lengths and then revert to a permanent or regular APR (based on a variable rate tied to the prime rate) that applies to any balances not paid in full. We rate both introductory APR percentage and length (in months) along with the midpoint of the variable regular APR interest rate range.
  • Valuable Rewards Credit card reward programs can be based on cash back, points or travel rewards (which can be generic or travel partner-specific, as with airline and hotel co-brand card programs). For cards that offer rewards we determine the value per dollar spent along with average redemption values and assign more favorable ratings to cards that offer superior consumer value. We also assign value to sign-up bonus offers and their initial spending requirements, when present.
  • Excellent Benefits Credit card benefits cover a range of offerings like concierge service, TSA Pre-check, auto rental coverage, travel accident insurance, lost luggage assistance and free credit scores. We rate cards on the number and level of over a dozen standard and upscale benefits and provide extra weighting emphasis for those travel-related perks that apply to premium travel cards when present.
  • Solid Security/Customer Service Security and customer service features like lost or stolen card replacement, being able to lock one’s card from an issuer app and 24 hour customer support are becoming more standard across the card market and we provide a significant amount of weighting to features in this area.
  • You can also read the full version of our methodology for a more in-depth look at how we assess cards and award them the best in various categories.