For more than 10 years, Jon Nickel-D'Andrea has been a sought-after expert on how to travel the world using rewards points and miles. Jon has been featured in local and national publications and as a speaker at various seminars across the world. Comb.
Jon Nickel-D'Andrea Credit Cards Expert WriterFor more than 10 years, Jon Nickel-D'Andrea has been a sought-after expert on how to travel the world using rewards points and miles. Jon has been featured in local and national publications and as a speaker at various seminars across the world. Comb.
Written By Jon Nickel-D'Andrea Credit Cards Expert WriterFor more than 10 years, Jon Nickel-D'Andrea has been a sought-after expert on how to travel the world using rewards points and miles. Jon has been featured in local and national publications and as a speaker at various seminars across the world. Comb.
Jon Nickel-D'Andrea Credit Cards Expert WriterFor more than 10 years, Jon Nickel-D'Andrea has been a sought-after expert on how to travel the world using rewards points and miles. Jon has been featured in local and national publications and as a speaker at various seminars across the world. Comb.
Credit Cards Expert Writer Clint Proctor Lead Editor, Credit Cards & Travel RewardsClint Proctor is a lead editor with the credit cards and travel rewards team at Forbes Advisor. He has five years of experience in personal finance journalism and has contributed to a variety of leading national publishers including Business Insider.
Clint Proctor Lead Editor, Credit Cards & Travel RewardsClint Proctor is a lead editor with the credit cards and travel rewards team at Forbes Advisor. He has five years of experience in personal finance journalism and has contributed to a variety of leading national publishers including Business Insider.
Clint Proctor Lead Editor, Credit Cards & Travel RewardsClint Proctor is a lead editor with the credit cards and travel rewards team at Forbes Advisor. He has five years of experience in personal finance journalism and has contributed to a variety of leading national publishers including Business Insider.
Clint Proctor Lead Editor, Credit Cards & Travel RewardsClint Proctor is a lead editor with the credit cards and travel rewards team at Forbes Advisor. He has five years of experience in personal finance journalism and has contributed to a variety of leading national publishers including Business Insider.
| Lead Editor, Credit Cards & Travel Rewards
Updated: Aug 20, 2024, 3:53pm
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The Business Platinum Card® from American Express (Terms apply, see rates & fees) sports a hefty $695 annual fee, but small business owners who can take advantage of the card’s many statement credits and travel benefits could find value well beyond the price. You’ll earn the most rewards when booking airline tickets and at electronics and home improvement stores.
Partner Offer Rates & Fees / Terms Apply The Business Platinum Card® from American Express On American Express's Website Rates & Fees / Terms ApplyOur ratings take into account the card’s rewards, fees, rates along with the card’s category. All ratings are determined solely by our editorial team.
Welcome Bonus Earn 150,000 points Annual Fee Regular APR 19.49% - 28.49% Variable Credit Score Good,ExcellentCredit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Earn 150,000 Membership Rewards® points after you spend $20,000 in eligible purchases on the Card within the first 3 months of Card Membership.
Partner Offer Apply Now →
On American Express's Website Rates & Fees / Terms Apply Welcome Bonus Earn 100,000 points Annual Fee Credit Score Good,Excellent Regular APR 19.49% - 28.49% VariableCredit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Earn 100,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.
Ink Business Preferred® Credit Card On Chase Bank USA, NA's Website Welcome Bonus Earn 90,000 bonus points Annual Fee Credit Score Excellent, Good Regular APR 21.24%-26.24% VariableCredit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Earn 90,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening.
The Blue Business® Plus Credit Card from American ExpressPartner Offer Apply Now →
On American Express's Website Rates & Fees / Terms Apply Welcome Bonus Earn 15,000 points Annual Fee No annual fee Credit Score Excellent/Good Regular APR 18.49% - 26.49% VariableCredit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Earn 15,000 Membership Rewards® points after you spend $3,000 in eligible purchases on the Card within your first 3 months of Card Membership.
The Business Platinum Card® from American Express is a premier travel and American Express Membership Rewards®-earning card for small business owners. I’ve had this card now for more than five years. Each year, I find that the value I get from the card’s suite of travel and shopping benefits is worth much more than the card’s $695 annual fee.
The card’s statement credits also help offset the annual fee. I’ve personally found them quite easy to use, especially since earning those credits is mostly easy and automatic after you enroll.
Airport lounges are an essential part of my travel journey, and no card has access to more of them than the Amex Platinum. My first hotel chain elite status was thanks to the card’s elite status benefit. The special booking offers through the Fine Hotels & Resorts (FHR) program has also helped me save hundreds.
New cardholders can earn 150,000 Membership Rewards® points after spending $20,000 in eligible purchases with the card within the first 3 months of card membership. That’s a high minimum spending requirement for a welcome bonus, but it wasn’t hard to hit once I looked at what my business spent on a monthly basis. Membership Rewards points are especially valuable due to their flexibility, making them the points I use the most. Also, cardholders earn 5 Membership Rewards® points per dollar on flights and prepaid hotels through American Express Travel, 1.5 points per dollar on eligible purchases at U.S. construction material & hardware suppliers, electronic goods retailers and software and cloud system providers, and shipping providers, as well as on purchases of $5,000 or more, on up to $2 million per card account per calendar year and 1 point per dollar on other eligible purchases. Purchases eligible for multiple point bonuses only receive the highest eligible bonus.
Why you can trust Forbes Advisor
Our credit card editors are committed to bringing you unbiased ratings and information. Our editorial content is not influenced by advertisers. We use data-driven methodologies to evaluate financial products and companies, so all are measured equally. You can read more about our editorial guidelines and the credit card methodology for the ratings below.
The Business Platinum Card® from American Express ranks extremely well as one of the industry’s leading luxury and travel cards. The card’s features make it especially well-suited for:
The Amex Business Platinum is featured prominently on our site’s lists of the best credit cards:
As a business owner who travels well over 100 days a year, this card never leaves my wallet. While the lounge access alone is enough for me, the elite status with hotels and rental cars makes travel even more appealing.
New cardholders can earn 150,000 Membership Rewards® points after spending $20,000 in eligible purchases with the card within the first 3 months of card membership. That might be a lot for some small businesses to spend in a short time. However, small businesses meeting this requirement will be rewarded with a bounty of points.
Purchases on The Business Platinum Card® from American Express earn 5 Membership Rewards® points per dollar on flights and prepaid hotels through American Express Travel, 1.5 points per dollar on eligible purchases at U.S. construction material & hardware suppliers, electronic goods retailers and software and cloud system providers, and shipping providers, as well as on purchases of $5,000 or more, on up to $2 million per card account per calendar year and 1 point per dollar on other eligible purchases. Purchases eligible for multiple point bonuses only receive the highest eligible bonus.
I like using the Amex Travel portal to book flights and earn 5 miles per dollar. Amex’s International Airline Program (IAP) comes with discounts on airfare when traveling in first, business or premium economy class, all while earning the same 5 Membership Rewards per dollar spent.
Not many business cards earn bonuses for home improvement stores and electronic stores, so when I head out to renovate or update the tech for work, it’s a no-brainer to earn extra points along the way.
If there is one point currency that I always keep on hand, it’s Amex Membership Rewards. I prioritize these rewards mainly because of the Business card’s best-in-class redemption options. While there is a lot of talk about Chase Ultimate Rewards®’ ability to earn 1.5 points per dollar via the Chase Travel℠ portal with the Chase Sapphire Reserve®, Amex Membership Rewards can offer even more value—up to 1.54 cents per dollar—when redeeming points for specific flights.
However, the most valuable redemption options include transferring points to one of Membership Rewards’ multiple airline or hotel partners. Some of these redemptions can be complicated but incredibly valuable. While many business owners might want to stick to more familiar mileage programs like Delta SkyMiles or Marriott Bonvoy, some of the most valuable redemptions I’ve had recently include with Air France-KLM Flying Blue and Virgin Atlantic Flying Club.
I recently booked a trip from Seattle to Taipei on the new China Airlines service that just launched for 83,700 miles, but since there was a transfer bonus at the time for 25%, I only had to send over 67,000 Membership Rewards to snag the one way flight in business class. I also booked a trip from Spain to Argentina in KLM Business Class for 77,000 points. Using that same bonus, it cost just under 62,000 points for that nearly 16-hour trip in business class.
Some of the other ways you can redeem your rewards include:
If you don’t have any travel plans, you can always redeem your points for gift cards or through Pay with Points. However, these redemptions are typically valued at less than one cent per point. While I haven’t redeemed my points for gift cards, it’s around as an option if you need it. Gift card redemption options include:
The card is designed for travel redemptions, so it’s wiser to hold onto your points until your next trip.
The Business Platinum Card® from American Express earns 5 Membership Rewards® points per dollar on flights and prepaid hotels through American Express Travel, 1.5 points per dollar on eligible purchases at U.S. construction material & hardware suppliers, electronic goods retailers and software and cloud system providers, and shipping providers, as well as on purchases of $5,000 or more, on up to $2 million per card account per calendar year and 1 point per dollar on other eligible purchases. Purchases eligible for multiple point bonuses only receive the highest eligible bonus.
Forbes Advisor uses data from various government and industry reports to determine spending averages across various categories. Forbes Advisor estimates that an average small business has $39,337 in annual expenses that can be reasonably charged to a credit card.
The Business Platinum Card® from American Express Rewards Potential
Flights and Prepaid Hotels Booked Through Amex Travel Electronic Goods, Software, Construction Materials and Shipping All Other Purchases Total: 72,600 Amex Membership Rewards See More See LessCardholders can earn an estimated 72,600 Membership Rewards points annually, in addition to the first-year welcome bonus.
The Amex Business Platinum’s value comes mainly from the card’s statement credits. The best way to maximize the value you receive from the card is to take advantage of as many credits as possible. Without the use of several of the credits on an annual basis, you may have difficulty earning back the cost of the annual fee. Be sure to check that the card’s offerings make sense before applying.
The four easiest credits to use are the CLEAR® Plus credit, the wireless credit, the airline incidental credit and the Dell.com credit. These four alone save my business $909 yearly, well above the card’s annual fee.
One often overlooked way to maximize value is delegation. Amex Platinum Concierge offers significant value to those with little time to handle details and can offer a great way to regularly save yourself the hassle when seeking reservations, arranging a ride and more.
I’ve spent hours trying to find some hard-to-source gifts online—every time I would search, I kept getting “out of stock” messages. I decided to call the concierge and see if they would have any luck. About a week later, I got a message that my card had been charged and that the product would be in my hands in a couple of days. The final price was about $20 cheaper than I found online, as the concierge found one on sale via a third party I would have never thought to check. There was no fee for the service, only the charge for the actual gift itself.
Airline and hotel loyalty programs make up Amex’s list of reward transfer partners.
Airline Partners
Hotel Partners
Don’t pay for a service just to use a credit. If you don’t need the CLEAR Plus membership because you won’t ever use it, having it isn’t a value worth consideration. It may sound convenient, but if you wouldn’t pay for it otherwise, it probably isn’t worth paying for as part of a high annual fee.
The American Express Business Platinum Card has been integral to my business for quite some time. The biggest draw to this card is how it makes my life easier.
When traveling, I can get to the airport early and relax with a drink and a meal in a quiet place to catch up on work in the airport lounge. I won’t have to worry about paying pesky airline fees since the card credit covers incidentals. Once I get to where I’m going, I have elite status with hotels and rental cars to make the experience seamless.
When shopping for business gifts or just picking up supplies, I link my Membership Rewards account to my Rakuten online shopping account to earn even more Membership Rewards. Rakuten is an online shopping portal where you can earn cash back or Membership Rewards (with an eligible card) for your online purchases.
Finally, when it comes time to use the rewards I’ve earned, I know I’ll get one of the best points redemptions out there because of the Business Platinum card. While some travel portals offer up to 1.5 cents per point, with the Business Amex points rebate,, I’m getting a 35% rebate.
I recently came across a great deal in first class from San Diego to Seattle for only $243 one-way. Since I could redeem my Membership Rewards points and get a 35% rebate, this flight only cost 15,795 points. As a bonus, since the flight is considered a cash ticket by the airline when booked through Amex Travel, I still earned points with Alaska Airlines after I flew. This works out to a 1.54 cent per point value when using this redemption method.
One might expect the Business Platinum Card to be a better version of the American Express® Business Gold Card ($375 annual fee. Terms apply, see rates & fees). However, these two cards target different types of small business owners. While the Business Platinum card will be most useful to the traveling business owner, the Business Gold Card may be much more rewarding depending on your expenses.
The Business Gold Card earns 4 Membership Rewards® points per dollar on the two eligible categories where a business spends the most each month (up to $150,000 combined purchases per calendar year, then 1 point), 3 points per dollar on flights and prepaid hotels booked on Amex Travel and 1 point per dollar is earned for other purchases.
The bonus earning cap may seem restrictive, but that will be more than enough for many small businesses. To better understand these two cards and dive deep into which is best for your business, check out our comparison.
The Ink Business Preferred® Credit Card is Chase’s premier small business card, but it only has a $95 annual fee. In exchange for the lower annual fee, you’ll give up benefits like statement credits, lounge access and hotel elite status.
However, this card is much more valuable when earning rewards. The Ink Business Preferred earns 3 points per dollar on the first $150,000 spent on travel and select business categories each account anniversary year and 1 point per dollar on all other purchases. The Ink Business Preferred also comes with a welcome bonus: Earn 90,000 bonus points after spending $8,000 on purchases in the first 3 months from account opening.
Chase Ultimate Rewards® points are also extremely valuable. They can be transferred to airline and hotel programs (like United and Hyatt) at a 1:1 ratio, and they’re worth 25% more when redeemed for travel through Chase Travel℠ than when redeemed for cash back.
It might not seem obvious to compare the $695 annual fee Business Platinum Card to the no annual fee The Blue Business® Plus Credit Card from American Express (Terms apply, see rates & fees). However, the Blue Business Plus could be a much better option for many small businesses.
The Business Platinum makes up for its hefty annual fee with an impressive suite of travel benefits. However, these might not be valuable if you don’t travel much. If you glanced at the long list of benefits above and found that you can’t justify the annual fee, you might consider The Blue Business® Plus Credit Card from American Express instead.
What The Blue Business® Plus Credit Card from American Express lacks in benefits, it makes up for in simplicity. Earn 2 Membership Rewards points per dollar on everyday business purchases such as office supplies or client dinners up to the first $50,000 in purchases per year, then 1 point per dollar on all other purchases. That makes this card a winner for small businesses with modest spending, who don’t spend enough to earn the Business Platinum’s welcome bonus or care about the card’s travel benefits and statement credits.
The Business Platinum Card’s $695 annual fee will be a hefty expense for many small businesses. But for businesses that can take advantage of all the card’s travel and shopping benefits, that expense could pay off.
By maximizing the statement credits, lounge access and hotel elite status, small businesses can more than make up for the annual fee. But credits and perks only have value if you use them. If you don’t see yourself utilizing the Business Platinum’s suite of benefits, you should consider another of the best business credit cards.
Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors, including:
Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors come together to provide a star rating for each individual card.
To learn more about our rating and review methodology and editorial process, check out our guide on how Forbes Advisor rates credit cards.
Forbes Advisor Credit Card Rewards Expert Becky Pokora contributed to this article.
To view rates and fees for The Business Platinum Card® from American Express please visit this page.
To view rates and fees for American Express® Business Gold Card please visit this page.
To view rates and fees for The Blue Business® Plus Credit Card from American Express please visit this page.
¹Purchase Protection is an embedded benefit of your Card Membership and requires no enrollment. It can help protect Covered Purchases made on your Eligible Card when they’re accidentally damaged, stolen, or lost, for up to 90 days from the Covered Purchase date. The coverage is limited up to $10,000 per occurrence, up to $50,000 per Card Member account per calendar year. Coverage Limits Apply. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
²With Return Protection, you may return eligible purchases to American Express if the seller won’t take them back up to 90 days from the date of purchase. American Express may refund the full purchase price excluding shipping and handling, up to $300 per item, up to a maximum of $1,000 per calendar year per Card account, if you purchased it entirely with your eligible American Express® Card. Purchases must be made in the U.S. or its territories. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details.
³Up to $500 per Covered Trip that is delayed for more than 6 hours; and 2 claims per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
⁴The maximum benefit amount for Trip Cancellation and Interruption Insurance is $10,000 per Covered Trip and $20,000 per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
⁵Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
⁶Baggage Insurance Plan coverage can be in effect for Covered Persons for eligible lost, damaged, or stolen Baggage during their travel on a Common Carrier Vehicle (e.g. plane, train, ship, or bus) when the Entire Fare for a ticket for the trip (one-way or round-trip) is charged to an Eligible Card. Coverage can be provided for up to $2,000 for checked Baggage and up to a combined maximum of $3,000 for checked and carry-on Baggage, in excess of coverage provided by the Common Carrier. The coverage is also subject to a $3,000 aggregate limit per Covered Trip. For New York State residents, there is a $2,000 per bag/suitcase limit for each Covered Person with a $10,000 aggregate maximum for all Covered Persons per Covered Trip. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
⁷When an American Express® Card Member charges a Covered Purchase to an Eligible Card, Extended Warranty§ can provide up to one extra year added to the Original Manufacturer’s Warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your Card for the item up to a maximum of $10,000; not to exceed $50,000 per Card Member account per calendar year. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
American Express allows cardholders to carry a balance on the Business Platinum only after you activate the Pay Over Time * program. If eligible, you’ll see the option in your Account Services profile online or by calling the number on the back of your card. Balances that carry over will accrue interest charges.
American Express does not publish a set minimum credit score for its cards. However, as an ultra-premium card, you should expect American Express to look at your application carefully. It will weigh factors, including your revenue, assets, liabilities and credit history to decide and only approve qualified applicants.
To qualify for an American Express Business Platinum card, you must have an eligible business and a strong credit profile when submitting your application. When you apply, you’ll need to include all eligible income and assets and complete the application fully and correctly. Although you don’t have to have an existing relationship with American Express to qualify for the Business Platinum, it may help to already hold and use another American Express card responsibly, whether that’s a personal or business card.
Many Membership Rewards redemptions are instant, so you can enjoy your rewards immediately. Some types of redemptions may take a few days to post. This can include transfers to select travel partners and statement credits. Although the rewards are processed immediately, you may not see the changes updated on your balance for a few days.