The Business Platinum® Card from American Express Review
March 20, 2020
Best for: Small business owners who travel often and in style.
The Business Platinum® Card from American Express is the gold standard of premium travel rewards cards for small businesses. Penny pinchers and casual travelers might balk at the $595 annual fee, but adventurous business people will be showered in perks that make their travels much more enjoyable. If your business ventures take you away from home often, you’ll find the Business Platinum Card might quickly become a preferred travel companion.
Best way to use this card
The Business Platinum Card is not for businesses with tight budgets and low monthly spending. This card is built for small businesses that travel often and use their credit or charge card to make it happen. While this card features some fantastic rewards and perks, you’ll have to spend to earn them all, starting with the sign up bonus.
At 75,000 Membership Rewards points, the sign up bonus will cover some significant travel expenses — if you can earn it. To see this valuable bonus reward hit your account, you’ll need to spend $20,000 on your card ($10,000 to earn the first 50,000 points and another $10,000 to earn the additional 25,000 points) within the first three months of card membership. That’s a hefty minimum spend to earn a sign up bonus. Treat this bonus as the barometer for determining if the Business Platinum is right for your company. If you’ll struggle to reach this threshold, you’ll probably struggle to take full advantage of all the other benefits as well.
Once you earn the sign up bonus, you’ll need to put this travel rewards card to good use at the airport. Start by choosing your favorite airline from the list of qualifying partners and try to be as loyal to it as possible. You’ll be able to take advantage of the $200 travel fee credit as well as the 35% rewards bonus when you book a ticket on your chosen airline. However, don’t book your flights directly with the airline. Use the American Express travel portal to book your flights and prepaid hotel nights so you can earn 5x points on every dollar you spend.
Finally, enjoy yourself while you travel. The Business Platinum Card gives you access to many luxurious airport lounges around the world. Get to the airport early, sit down and enjoy a drink while you wait for your flight to board. You earned it with your Business Platinum Card.
In a nutshell
If you run a low-overhead business that keeps you and your team (if you have one) close to home, the Business Platinum Card’s $595 annual fee is probably enough to make you scoff — and rightly so. You almost certainly will not be able to use its perks enough to make the membership fee worth it every year. Instead, a cash back business card like the Capital One Spark Cash will still reward you for your spending without an exorbitant annual fee.
The Business Platinum card is for business owners who spend a lot of time and money traveling to grow their business and enjoy perks while they do it. Thanks to its premium travel reward perks like a TSA Precheck or Global Entry credit, airline fee credit and global lounge access, you’ll be able to travel efficiently and in style. If your business can handle the spending necessary to earn the sign up bonus while having enough cash flow to pay your balance in full every month, it’s hard to go wrong with a card that rewards you as well as the Business Platinum.