The American Express Business Platinum Card is a premium travel rewards card designed for frequent business travelers. With a hefty annual fee of $695, it’s a card that promises a suite of luxury perks and benefits to help make business travel more rewarding and comfortable. In this comprehensive review, we’ll explore the card’s offerings, analyze its value proposition, and help you determine if it’s the right fit for your business needs.
Elevated Rewards for Travel Spending
One of the primary selling points of the American Express Business Platinum Card is its generous rewards program for travel-related purchases. Cardholders earn a whopping 5 Membership Rewards points per dollar spent on flights and prepaid hotels booked through AmexTravel.com. This translates to a 5% reward rate, assuming a conservative value of 1 cent per Membership Rewards point.
Furthermore, the card offers a 35% points rebate when redeeming points for eligible flights through AmexTravel.com with your selected qualifying airline. This boost effectively increases your reward rate to 6.75% on travel spending – an exceptional value for frequent flyers.
Beyond travel-related purchases, the card earns 1.5 Membership Rewards points per dollar spent on eligible purchases in certain business categories, such as construction materials, hardware supplies, electronic goods retailers, software and cloud system providers, shipping providers, and eligible purchases of $5,000 or more (up to $2 million per calendar year). All other eligible purchases earn a flat 1 point per dollar spent.
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Lavish Travel Benefits and Perks
While the rewards program is undoubtedly appealing, the true value of the American Express Business Platinum Card lies in its extensive suite of travel benefits and perks. Here are some of the standout offerings:
- Lounge Access: The card provides complimentary access to more than 1,400 airport lounges across 140 countries, including Amex’s own Centurion Lounges, Escape Lounges, Priority Pass lounges, Plaza Premium Lounges, select Virgin Clubhouses, and Delta Sky Clubs when flying with Delta. This is arguably one of the most comprehensive lounge access privileges offered by any credit card.
- Hotel Elite Status: Cardholders automatically receive Marriott Bonvoy Gold Elite status and Hilton Honors Gold status. These elite tiers offer perks like room upgrades, late check-out, bonus points, and more, enhancing your hotel stays.
- Fine Hotels & Resorts Program: Exclusive to American Express, this program provides benefits like room upgrades, early check-in, late check-out, daily breakfast for two, and unique amenities when booking eligible stays through AmexTravel.com.
- Airline Fee Credits: Each calendar year, you’re eligible for up to $200 in statement credits for incidental fees charged by the airline you select, such as checked baggage fees, in-flight refreshments, and more.
- CLEAR® Membership Credit: Enroll and receive an annual statement credit of up to $189 for your CLEAR® Plus membership, allowing you to breeze through security checkpoints.
- Travel Protections: The card offers comprehensive travel protections, including trip cancellation and interruption insurance, trip delay insurance, baggage insurance plan, and car rental loss and damage insurance.
- Purchase Protections: Enjoy purchase protection, extended warranty protection, and cell phone protection for eligible purchases made with the card.
- Business Perks: The American Express Business App, Connect to QuickBooks integration, employee cards, and the ability to set employee spending limits can help streamline your business operations.
Annual Credits and Statement Credits
In addition to the travel perks, the American Express Business Platinum Card offers a range of annual credits and statement credits that can help offset the card’s steep $695 annual fee. Here are some of the most notable ones:
- Dell Statement Credit: Receive up to $400 in statement credits annually for U.S. purchases made directly with Dell – $200 from January to June, and another $200 from July to December. Ideal for businesses that frequently purchase Dell products.
- Adobe Statement Credit: Cardholders can get up to $150 in statement credits annually for select prepaid Adobe subscriptions upon enrollment.
- Indeed Statement Credit: Enroll and receive up to $360 in statement credits annually for eligible purchases with Indeed, a popular job search platform, to assist with your staffing needs.
- Wireless Telephone Services Credit: Get up to $120 in statement credits annually for wireless telephone services purchased directly from a U.S. provider.
These statement credits can substantially offset the annual fee, especially if you can maximize them based on your business needs.
Conclusion
The American Express Business Platinum Card is a premium travel rewards card that caters to frequent business travelers seeking luxury perks and elevated travel experiences. While the $695 annual fee is undoubtedly steep, the card’s generous rewards program for travel spending, extensive lounge access, hotel elite status, and various annual statement credits can potentially offset the cost, especially if you can maximize these benefits.
However, it’s important to evaluate your business travel patterns and spending habits carefully. If you don’t travel frequently or can’t fully utilize the card’s perks, the high annual fee may not be justified. In that case, consider alternative business credit cards with lower fees or rewards structures better suited to your spending habits.
Ultimately, the American Express Business Platinum Card is a premium offering designed for those who prioritize luxury travel experiences and are willing to pay a premium for the associated benefits. If you’re a frequent business traveler who values these perks, the card could be a worthwhile investment for your business.
Frequently Asked Questions (FAQs)
Q: What credit score do I need to get approved for the American Express Business Platinum Card?
A: While American Express doesn’t disclose specific credit score requirements, you’ll generally need a good to excellent credit score, typically in the 670-850 range, to qualify for the American Express Business Platinum Card.
Q: Is the American Express Business Platinum Card a credit card or a charge card?
A: The American Express Business Platinum Card is technically a charge card, meaning that the entire balance is due each month. However, American Express introduced a “Pay Over Time” feature that allows cardholders to carry a balance for certain purchases, much like a traditional credit card.
Q: Can I add authorized users or employee cards to my American Express Business Platinum Card account?
A: Yes, you can add one complimentary Business Platinum employee card to your account, as well as multiple complimentary American Express Business Gold Cards for additional employees.
Q: What are the travel insurance benefits provided by the American Express Business Platinum Card?
A: The card offers various travel insurance benefits, including trip cancellation and interruption insurance, trip delay insurance, baggage insurance plan, and car rental loss and damage insurance.
Q: Can I transfer my Membership Rewards points to airline and hotel partners?
A: Yes, American Express Membership Rewards points can be transferred to a variety of airline and hotel loyalty programs, often at a 1:1 ratio. This can potentially increase the value of your points when redeemed strategically.
Q: How do I qualify for the annual Dell statement credit?
A: To receive the annual $400 Dell statement credit, you must make eligible purchases directly from Dell’s U.S. website or through Dell’s Premier Portal.
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