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Premium business credit cards can offer some valuable and even money-saving rewards and privileges for business owners. You might be wondering if The Business Platinum Card® from American Express is worth having and whether or not it might even help your business grow. It comes with airline fee credits, lounge access, and more. But is the Amex Business Platinum worth it?

Anantara Dinner Cruise Bangkok Thailand Oct. 2015. 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.

The Business Platinum 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 no 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.

Related: Best Small Business Credit Cards for Travel

Earn 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 eligible purchases at US construction material, hardware suppliers, electronic goods retailers, and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.

Membership Rewards Redemption Options

The Business Platinum Card® from American Express 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 and then Amex reimburses 35% of the redeemed points for a 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 as 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:

  • 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

Additionally, unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.

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

Cardholders can get up to $189 in statement credits per calendar year on your CLEAR® Plus Membership (subject to auto-renewal) when they use their Business Platinum Card®.

With complimentary access to more than 1,400 airport lounges across 140 countries and counting, with The American Express Global Lounge Collection®. You have more airport lounge options than any other credit card issuer on the market as of 03/2023. Enrollment is required for some lounges.

When you’re ready to relax and need an escape, enjoy an unforgettable experience with Fine Hotels + Resorts. When you book with American Express Travel, you’ll 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. Air travel numbers are picking up but still remain below their pre-pandemic volumes.

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 have the opportunity to earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your 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:

  • You are a frequent flyer
  • You 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 that 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 ($200 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 $295 annual fee.

Card benefits include:

  • Earn up to 4x Membership Rewards on purchases*
  • 25% points back on award flight bookings (up to 250,000 points back per year)*
  • $100 credit for The Hotel Collection
  • 1:1 airline and hotel point transfers

You don’t get free airport lounge access or automatic elite hotel loyalty status. But you can choose your 4x rewards categories for purchases. Your points are most valuable for award flight bookings.

*Terms apply.

Related: Amex Business Gold Card Review

Chase Ink Business Preferred Credit Card

The Chase Ink Business Preferred® Credit Card is another top contender. Its annual fee is $95 and it earns Chase Ultimate Rewards 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 on Chase Ultimate Rewards
  • 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 100k bonus points after spending $8,000 on purchases in the first 3 months from account opening. That’s $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®.

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.

Related: Ink Business Preferred Review


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.


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 and to maximize the value of the Membership Rewards earned during each statement period.

The Amex Business Platinum offers the Pay Over Time feature that 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
  • Are a 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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