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Premium business credit cards can offer valuable (and even money-saving) rewards and privileges for business owners. One of the top cards in this category is The Business Platinum Card® from American Express, which comes with airline fee credits, top-of-the-line exclusive lounge access, and more. But is the Amex Business Platinum worth having, or is another card better?

Lounge access, 1:1 flight transfer options, & more: The Business Platinum Card® from American Express

JW Marriott Desert Springs living room. Credit: Johnny Jet

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit to learn more.

Is The Amex Business Platinum Worth It? What Is The Annual Fee?

Let’s just get this out of the way: the annual fee is $695 (See Rates & Fees), making it one of the priciest small business credit cards.

However, despite the high annual fee, there is a silver lining. Cardholders have a premium credit card with exclusive travel and retail benefits. Maximizing these perks can provide more value than the fee.

There are also $0 foreign transaction fees (See Rates & Fees).

Let’s recap some of the benefits of this card before we look at how hard it is to get it.

Earning Points

You may like this card if you have other American Express credit cards that earn Membership Rewards® points. You can pool your points between your various cards for larger redemption amounts.

The Amex Business Platinum earns up to 5x Membership Rewards® points on purchases:

  • Flights booked on
  • Prepaid hotels booked on

Earn 1x points for each dollar spent on eligible purchases.

Cardholders earn 1.5x points (that’s an extra half point per dollar) on these eligible purchases (on up to $2 million of these purchases per calendar year):

  • U.S. construction material
  • Hardware suppliers
  • Electronic goods retailers
  • Software & cloud system providers
  • Shipping providers
  • Purchases of $5,000 or more everywhere else

Point Redemption Options

The Business Platinum’s points are most valuable when redeemed for award flights on AmexTravel. Each point is worth 1.35 cents.

The redemption value is 1 cent each when booking the award flight. Then, Amex reimburses 35% of the redeemed points for future redemption (up to 500,000 points per year).

Gift card redemptions are worth 1 cent each. Other award travel and cash redemptions are not the best options. Points are worth 0.8 cents each or less.

Points can be worth more when transferring to airline and hotel partners, including Delta, JetBlue, Avianca, and Hilton Honors. Most transfer partners have a 1:1 transfer ratio, and you can transfer in 1,000-point increments.

Many of the airline partners are international airlines, but you can redeem points for domestic flights.

Additional Card Benefits

The Business Platinum Card from American Express can be worth it if you can employ the additional travel and retail card benefits.

Travel Perks

Most of the additional card perks are for business travelers (enrollment may be required):

  • American Express Global Lounge Collection (Centurion, Priority Pass, Delta Sky Club, etc.; enrollment may be required)
  • Gold tier Hilton Honors and Marriott Bonvoy Elite status
  • Preferred rental car privileges (Avis, Hertz, and National)
  • Cruise Privileges Program discounts

Cardholders can also unlock over $1,000 in annual statement credits for business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.

Travel perks include up to $200 in statement credits per calendar year for incidental fees charged by your one selected, qualifying airline to your Card.

Cardholders can also get up to $189 in statement credits per calendar year on their CLEAR® Plus Membership (subject to auto-renewal). Access to the American Express Global Lounge Collection® is also included. Enrollment is required for some lounges.

When booking Fine Hotels + Resorts properties with American Express Travel, receive an average total value of $550 in perks at over 1,100 properties.

The travel perks are valuable if you’re a frequent business flyer.

Retail Perks

There are several retail benefits that can save money.

  • Extended warranty (on select warranties of 5 years or less)
  • Purchase protection (up to 90 days on qualifying purchases)
  • Cell phone protection
  • Pay Over Time (carry a balance with interest on purchases larger than $100)

While this card gives cardholders flexibility and has no preset spending limit, the amount you can spend adapts based on factors such as your purchase, payment, and credit history. Cardholders are expected to pay their card balance in full each month.

Additionally, the Pay Over Time option on the card lets you carry a balance with interest on purchases of $100 or more. The Pay Over Time feature can be worth it for lean months (terms apply). Purchases of $100 or more are eligible to be paid over time, up to the amount of your Pay Over Time limit on your account. You can choose to pay for these purchases over time with interest, or you can pay your full balance, whichever is best for your business. All purchases under $100 are due in full each month.

Cardmembers must pay in full any charges not included in a Pay Over Time balance.

Welcome Offer

New The Business Platinum Card® from American Express cardholders can earn 150,000 Membership Rewards® points after spending $20,000 in eligible purchases on their Card within the first 3 months of Card Membership. 

This welcome bonus has a higher spending requirement than cards with lower annual fees. Like other American Express credit cards, you can only earn this bonus once.

Minimum Credit Score Needed

Applicants will need excellent credit to have the best approval odds for this card. Having a minimum 740 credit score is recommended, but a score above 700 can likely qualify.

Having an incorporated business (i.e., LLC, C-Corp, S-Corp) or an existing relationship with Amex can also boost your approval odds. Sole proprietors can also qualify, but the review process might be more rigorous.

Related: How Hard Is It to Get the Amex Business Platinum?

When The Amex Business Platinum Is Worth It

You may consider having The Business Platinum Card® from American Express for these reasons:

  • Are a frequent flyer
  • Can use the travel perks
  • Have other cards that earn Membership Rewards
  • Want to earn 5x points on AmexTravel bookings
  • You can use the 35% point redemption bonus on award flights

Business travelers who can use the air travel, hotel, and car rental perks can easily squeeze more rewards value from this card.

When To Avoid The Amex Business Platinum

You should avoid the Amex Business Platinum for these reasons:

  • Don’t travel often
  • Cannot maximize the air travel perks (up to $200 annual airline fee credit, lounge access, etc.)
  • Won’t meet the welcome offer minimum spend bonus
  • Want more flexible point redemption options
  • Book business travel directly from a travel provider instead of AmexTravel
  • Cannot afford the annual fee
  • Don’t want to earn Membership Rewards

The Amex Business Platinum offers some amazing travel perks. Being able to earn 5x points on travel purchases is impressive, too, but you must book your flights and hotel stays on AmexTravel to earn the bonus points. Other business credit cards have more flexible rewards programs.

You should also avoid the Business Platinum if you don’t travel enough to justify the annual fee. Once your business travel schedule returns to its pre-pandemic levels, the Business Platinum may be an attractive option.

Business Platinum Alternatives

You may get more mileage from these small business credit cards with lower annual fees and different card features.

American Express Business Gold

The American Express® Business Gold Card is similar to the Business Platinum but has a more digestible $375 annual fee (See Rates & Fees).

You can earn 4x Membership Rewards® points on the 2 categories where your business spent the most each billing cycle from the list below, up to $150,000 in annual spending, then 1x point.

Only the top two categories in each billing cycle will count towards the $150,000 cap. Categories include:

  • U.S. purchases at electronic goods retailers and software & cloud system providers
  • Monthly wireless telephone service charges that are made directly from a wireless telephone service provider in the U.S.
  • Transit purchases, including trains, taxicabs, rideshares, ferries, tolls, parking, buses, and subways
  • Purchases at U.S. media providers for advertising in select media (online, TV, and radio)
  • U.S. purchases at gas stations
  • U.S. purchases at restaurants, including takeout and delivery

Additionally, American Express Travel purchases through earn 3x points per $1.

You don’t get free airport lounge access or automatic elite hotel loyalty status. But you can choose your 4x rewards categories for purchases.

Ink Business Preferred Credit Card

The Chase Ink Business Preferred® Credit Card is another top contender. Its annual fee is $95, and it earns points that can be worth 1.25 cents each (25% more) on any award travel booking.

  • Earn 3x points on travel and qualifying business purchases (up to $150,000 in combined annual spending)
  • Earn 1x points on non-bonus spending
  • 25% redemption bonus for award travel booked through Chase Travel℠
  • 1:1 airline and hotel point transfers
  • Primary rental car collision damage waiver (Amex Cards only have secondary coverage)

New Ink Business Preferred® Credit Card cardholders can earn 120k bonus points after spending $8,000 on purchases in the first 3 months from account opening. That’s $1,200 cash back or $1,500 toward travel when redeemed through Chase Travel℠.

The Ink Business Preferred also has a different set of 1:1 travel partners, including United Airlines, Southwest Airlines, and World of Hyatt. There are several overlapping partners.


In conclusion, The Business Platinum Card® from American Express can be an awesome card to have in your business wallet if you’re a frequent flyer and can use the travel credits and lounge access benefits. However, the annual fee and relatively restrictive point redemption options will deter occasional business travelers.

Lounge access, 1:1 flight transfer options, & more: The Business Platinum Card® from American Express


Does the Amex Business Platinum have a spending limit?

No, the Amex Business Platinum does not have a preset spending limit, providing more flexibility for cardholders. However, unlike a traditional card with a set limit, the amount you can spend adapts based on factors such as your purchase, payment, and credit history.

It’s important to pay your card balance in full each month to avoid hefty interest charges. Paying also helps to maximize the value of the points earned during each statement period.

Additionally, the Amex Business Platinum offers the Pay Over Time feature. This allows cardholders to set up a payment plan for purchases over $100 (terms apply).

How do you qualify for the American Express Business Platinum?

Below are the minimum qualifications to qualify for The Business Platinum Card® from American Express:

  • At least 18 years old
  • Are a sole proprietor or own an incorporated business
  • U.S. resident
  • Earn small business income
  • Have an excellent credit score (low 700s or above)

Applicants may need to provide documents showing proof of income, such as recent tax returns. Currently, having a small business credit card or a personal credit card can boost the approval odds, too.

Related Articles

For rates and fees of The Business Platinum Card® from American Express, please click here.

For rates and fees of the American Express® Business Gold Card, please click here.

Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

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