Hello there! Are you a business owner looking for a card that goes beyond just earning points, offering a suite of luxury travel and business benefits? Then you're in the right place! The American Express® Business Platinum Card is designed for businesses that have significant spending and value premium perks. It's a charge card, not a credit card, which means you're generally expected to pay your balance in full each month, though it does offer some flexibility.
Let's dive deep into how this card works and how you can maximize its value for your business.
Step 1: Understanding the Foundation - It's a Charge Card!
First things first, it's crucial to grasp that the American Express Business Platinum Card is primarily a charge card. This is a key differentiator from traditional credit cards.
What Does "Charge Card" Mean?
No Pre-Set Spending Limit: Unlike credit cards that come with a fixed credit limit, the Business Platinum Card has no pre-set spending limit. This means your purchasing power adapts dynamically to your card usage, payment history, and financial resources. This can be incredibly beneficial for businesses with fluctuating expenses or large, infrequent purchases.
Pay in Full Each Month (Generally): The core principle of a charge card is that you are expected to pay your balance in full each month. This promotes financial discipline and helps avoid carrying debt.
Flexible Payment Option: While the general expectation is to pay in full, American Express does offer a "Flexible Payment Option" on eligible purchases. This allows you to pay certain balances over time with interest, providing some breathing room for larger expenditures. However, it's essential to understand the interest rates and use this feature judiciously.
Why is this important? It means the card is best suited for businesses that have strong cash flow and can comfortably pay off their monthly statements. If your business often carries a balance, a traditional credit card with a lower APR might be a more suitable option.
Step 2: Unlocking the Value - Earning Membership Rewards® Points
One of the primary ways the Business Platinum Card works for you is by earning Membership Rewards® points. These points are incredibly versatile and form the backbone of the card's rewards program.
How You Earn Points:
5X Points on Flights & Prepaid Hotels: You'll earn a generous 5 Membership Rewards® points per dollar spent on flights and prepaid hotels booked through AmexTravel.com. This is a significant earning rate for businesses with substantial travel expenses.
1.5X Points on Large Purchases: For eligible purchases of $5,000 or more, you'll earn 1.5 Membership Rewards® points per dollar, up to $2 million in spending per calendar year. This is excellent for businesses making substantial equipment purchases, inventory buys, or other large expenditures.
1X Point on Other Eligible Purchases: All other eligible purchases will earn 1 Membership Rewards® point per dollar.
Think of it this way: Every business expense, from office supplies to marketing campaigns, can contribute to your point balance, which you can then leverage for various benefits.
Step 3: Maximizing the Perks - Statement Credits and Premium Benefits ✈️
This is where the American Express Business Platinum Card truly shines and often justifies its premium annual fee. The card comes packed with various statement credits and luxury benefits designed to enhance your business operations and travel experience.
Key Statement Credits:
Up to $200 Airline Fee Credit: Each calendar year, you can select one qualifying airline and receive up to $200 in statement credits for incidental fees charged by that airline (e.g., checked bags, in-flight refreshments, seat upgrades). Enrollment is required.
Up to $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings made through American Express Travel. The Hotel Collection requires a minimum two-night stay.
Up to $400 Dell Technologies Credit: Receive up to $200 in statement credits annually for U.S. purchases directly with Dell Technologies. This credit is often split into two $200 credits, one for January-June and another for July-December. Enrollment is required.
Up to $120 Wireless Credit: Get up to $10 in statement credits per month (up to $120 annually) on eligible purchases for wireless telephone services purchased directly from U.S. wireless telephone providers. Enrollment is required.
Global Entry or TSA PreCheck Credit: Receive a statement credit for either the application fee for Global Entry (up to $100 every 4 years) or TSA PreCheck (up to $85 every 4.5 years).
CLEAR® Plus Credit: Get up to $189 back in statement credits per calendar year for a CLEAR Plus membership, which helps you expedite security at select airports and stadiums.
These credits alone can significantly offset the card's annual fee if utilized effectively.
Premium Travel Benefits:
Extensive Airport Lounge Access: This is a major highlight! The Business Platinum Card grants you access to the American Express Global Lounge Collection®, which includes:
The Centurion® Lounge: Exclusive, premium lounges with complimentary food, drinks, and often other amenities.
Delta Sky Club®: Access when flying on a Delta-operated flight.
Priority Pass™ Select: Enrollment required for access to thousands of lounges worldwide.
Lufthansa Lounges, Escape Lounges, and more.
This benefit can transform your travel experience, providing a quiet and comfortable oasis before your flights.
Fine Hotels + Resorts® Program: When booking through Amex Travel, enjoy benefits like daily breakfast for two, room upgrades when available, late checkout, and a unique amenity (often a property credit) at participating luxury hotels.
The Hotel Collection: For stays of two nights or more booked through Amex Travel, receive a $100 experience credit to use on qualifying dining, spa, or other activities, plus a room upgrade when available.
Complimentary Elite Status: Enroll for complimentary Gold Elite Status with Marriott Bonvoy™ and Hilton Honors™. These statuses offer perks like late checkout, bonus points, and potential room upgrades.
International Airline Program: Access to lower fares on international first class, business class, and premium economy tickets when booked through American Express Travel.
Car Rental Privileges: Enjoy complimentary premium status with select car rental programs (e.g., Hertz Gold Plus Rewards Five Star Tier, Avis Preferred).
Travel Insurance: The card often includes various travel protections, such as trip delay insurance, baggage insurance, and car rental loss and damage insurance. Always review the specific terms and conditions for coverage details.
No Foreign Transaction Fees: Use your card abroad without incurring additional fees on international purchases.
Step 4: Redeeming Your Membership Rewards® Points
Earning points is only half the battle; knowing how to redeem them effectively is key to maximizing their value.
Redemption Options:
Transfer to Airline & Hotel Partners: This is often where you'll find the highest value for your points. American Express has a vast network of airline and hotel transfer partners (e.g., Delta SkyMiles, Marriott Bonvoy, British Airways Executive Club). Transferring points to these programs can yield significantly more value than other redemption methods, especially for business or first-class flights.
Book Travel Through AmexTravel.com: You can use your points to book flights, hotels, cruises, and rental cars directly through the American Express Travel portal. The value here is typically 1 cent per point for flights.
Pay with Points for Charges: You can apply Membership Rewards points as a statement credit to cover eligible charges on your card. However, this usually offers a lower redemption value (often 0.6 cents per point), so it's generally not the most advised option for maximizing value.
Redeem for Deposits (Business Checking): If you have an American Express Business Checking account, you can redeem points for deposits into that account, often at a rate of 1 cent per point for up to 1 million points per calendar year.
Gift Cards & Merchandise: While available, these options usually provide the lowest value for your points and are generally not recommended for strategic point utilization.
The key to smart redemption is often transferring points to airline and hotel loyalty programs to unlock premium travel experiences.
Step 5: Leveraging Business Tools & Services ️
Beyond rewards and travel, the Business Platinum Card offers a suite of services designed to support your business operations.
Business-Centric Features:
Employee Cards: You can add employee cards to your account, allowing your team to make purchases while you earn points on their spending. You can set spending limits and track expenses for each employee.
Account Management Tools: Access robust online tools to track spending, view statements, and manage your account.
Amex Offers: Get targeted offers for statement credits or bonus points when you use your card at specific merchants. These can be valuable for everyday business expenses.
Business Platinum Concierge: A dedicated concierge service can assist with various business-related tasks, such as booking reservations, finding event tickets, or making travel arrangements.
Global Dining Access by Resy: Platinum Card Members get special access to exclusive reservations and experiences at top restaurants.
These tools can help streamline your business's financial management and provide valuable assistance.
Step 6: Understanding the Costs
While the benefits are plentiful, it's important to be aware of the associated costs.
The Annual Fee:
The American Express Business Platinum Card comes with a significant annual fee, typically around $695 (as of current information, always check the latest rates & fees on the Amex website).
This fee is substantial, but as you've seen, the various statement credits and premium benefits can often offset or even exceed this cost if you fully utilize them.
Foreign Transaction Fees:
Fortunately, the Business Platinum Card has no foreign transaction fees, making it an excellent choice for international business travel and purchases.
Step 7: Who is the American Express Business Platinum Card For?
Considering all its features, the Business Platinum Card is ideal for:
Businesses with high annual spending, particularly on travel and large purchases.
Business owners and employees who travel frequently and value luxury travel perks like airport lounge access and elite hotel status.
Companies that can consistently pay their balance in full each month.
Businesses looking for premium customer service and a robust rewards program that offers significant value through point transfers.
If your business spending is modest or you frequently carry a balance, other business credit cards with lower annual fees or different reward structures might be a better fit.
10 Related FAQ Questions
How to Apply for the American Express Business Platinum Card?
You can apply online through the American Express website. The application will typically require information about your business, including its legal name, industry, and annual revenue, as well as your personal financial details.
How to Get Approved for the American Express Business Platinum Card?
Approval generally requires a strong personal credit score (usually excellent credit is recommended), a well-established business with solid revenue, and a good payment history. Amex also considers your relationship with them if you're an existing customer.
How to Use the $200 Airline Fee Credit on the Business Platinum Card?
First, you must select a qualifying airline through your Amex online account. Then, when you incur incidental fees (like baggage fees, seat selection fees, or in-flight food/beverages) with that airline, the credit will automatically be applied as a statement credit, usually within 2-4 weeks.
How to Access Airport Lounges with the Business Platinum Card?
For Centurion Lounges, Delta Sky Clubs (when flying Delta), and most other lounges in the Global Lounge Collection, you typically just need to present your Business Platinum Card, a government-issued ID, and a same-day boarding pass. For Priority Pass Select lounges, you'll need to enroll and receive your Priority Pass card first.
How to Transfer Membership Rewards Points to Airline Partners?
Log in to your American Express online account, navigate to the Membership Rewards section, and select the option to transfer points. You'll then choose your desired airline partner and link your loyalty program account to your Amex account before initiating the transfer.
How to Maximize the Dell Technologies Statement Credit?
Enroll in the benefit through your Amex online account. Plan your Dell purchases to align with the semi-annual credit periods (January-June and July-December) to ensure you utilize both parts of the credit each year.
How to Add Employee Cards to the Business Platinum Account?
You can add authorized users (Employee Cards) to your account through your online American Express dashboard or by calling customer service. You can set individual spending limits for each employee card.
How to Use the Fine Hotels + Resorts Program?
Book your eligible stay through American Express Travel (online or by phone). The benefits, such as daily breakfast, room upgrades (subject to availability), and late checkout, will be automatically applied to your reservation.
How to Get a Higher Spending Limit on the Business Platinum Card?
Your spending power adjusts dynamically based on your payment history, account usage, and financial profile. Consistently paying your balance in full and on time, and having a strong financial standing, can contribute to increased purchasing power over time.
How to Determine if the Annual Fee is Worth It?
Calculate the potential value you can receive from the statement credits (airline, hotel, Dell, wireless, CLEAR, Global Entry/TSA PreCheck) and factor in the value of lounge access, elite statuses, and travel insurance benefits based on your usage. If the total value of these benefits exceeds the annual fee, it's likely worth it for your business.
