For premium travel rewards and luxury lifestyle perks, The Platinum Card® from American Express and The Business Platinum Card® from American Express are two of the most popular options. Both cards come with robust benefits and an array of annual credits, but there are key differences that may make one a better choice depending on your spending habits and needs.
In this comprehensive comparison, we’ll dive deep into the welcome offers, earning rates, annual credits, lounge access, elite status, and other benefits of the personal and business versions of the Amex Platinum card. We’ll also cover FAQs to help you decide which premium metal card deserves a spot in your wallet.
Welcome Bonus Showdown
A lucrative welcome bonus can provide an instant influx of points to kickstart your travel rewards journey. Here’s how the current public offers stack up:
- The Platinum Card from American Express: Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases within the first 6 months of card membership.
- The Business Platinum Card from American Express: Earn 120,000 Membership Rewards® Points after you spend $15,000 on eligible purchases within the first 3 months of card membership.
Based on TPG’s valuations, the personal Platinum’s 80,000-point bonus is worth $1,600, while the Business Platinum’s 120,000-point bonus is worth a whopping $2,400.
However, the minimum spending requirements differ significantly. The personal Platinum requires $8,000 in spending within 6 months (an average of $1,333 per month), while the Business Platinum demands a hefty $15,000 within just 3 months (an average of $5,000 per month).
For individuals, the personal Platinum’s welcome offer may be more attainable, but business owners with substantial expenses could find the higher spending threshold on the Business Platinum more manageable.
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Earning Amex Membership Rewards® Points
Both the personal and business versions of the Amex Platinum card earn flexible, transferable Amex Membership Rewards Points, which can be redeemed for travel, merchandise, gift cards, or transferred to over 20 airline and hotel partners.
Here’s a look at the earning rates:
The Platinum Card from American Express:
- 5X points on flights booked directly with airlines or through Amex Travel (on up to $500,000 per calendar year, then 1X)
- 5X points on prepaid hotels booked through Amex Travel
- 1X points on all other eligible purchases
The Business Platinum Card from American Express:
- 5X points on flights and prepaid hotels booked through Amex Travel
- 1.5X points on eligible purchases of $5,000 or more, and in key business categories (U.S. construction materials and hardware suppliers, electronics goods retailers and software & cloud system providers, and shipping providers), on up to $2 million in combined purchases per calendar year, then 1X
- 1X points on all other eligible purchases
While both cards offer a generous 5X earning rate on flights and prepaid hotels booked through Amex Travel, the personal Platinum also earns 5X on flights booked directly with airlines (up to $500,000 per year). This may be more convenient for frequent flyers who prefer booking directly with the airline.
On the other hand, the Business Platinum provides a bonus earning rate of 1.5X points on large purchases of $5,000 or more, as well as in key business categories like U.S. construction materials, electronics retailers, software providers, and shipping services (on up to $2 million in combined purchases per year). This can be incredibly valuable for businesses with substantial expenses in these areas.
Annual Credits and Statement Credits
One of the key ways the personal and business versions of the Amex Platinum card offset their hefty annual fees is through a wide range of annual credits and statement credits. Here’s a breakdown of what each card offers:
The Platinum Card from American Express:
- Up to $200 annual credit for hotel bookings through Amex Travel
- Up to $200 annual airline fee credit
- Up to $189 annual credit for CLEAR® membership
- Up to $100 credit for Global Entry or TSA PreCheck application fees (every 4.5 years)
- Up to $20 monthly credit for digital entertainment subscriptions like The New York Times, Audible, Peacock, and more
- Up to $25 monthly credit for Equinox fitness club memberships or the Equinox+ app
- Up to $15 monthly Uber credit (plus an extra $20 in December)
- Up to $100 annual Saks Fifth Avenue credit ($50 semi-annually) Up to $155 annual credit for Walmart+ membership
The Business Platinum Card from American Express:
- Up to $200 annual airline fee credit
- Up to $189 annual credit for CLEAR® membership
- Up to $100 credit for Global Entry or TSA PreCheck application fees (every 4 years)
- Up to $400 annual Dell credit ($200 semi-annually)
- Up to $360 annual Indeed credit ($90 quarterly)
- Up to $150 annual Adobe credit Up to $120 annual wireless service credit ($10 monthly)
The personal Platinum card offers more lifestyle credits like Uber, Saks Fifth Avenue, digital entertainment, and Equinox, while the Business Platinum focuses on business-relevant credits for Dell, Indeed, Adobe, and wireless services.
Both cards provide up to $200 in annual airline fee credits, which can cover incidental charges like checked bags, inflight purchases, and more (enrollment required). They also offer the same CLEAR, Global Entry/TSA PreCheck, and Marriott/Hilton Gold elite status benefits.
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Lounge Access and Hotel Elite Status
A major perk of both the personal and business Amex Platinum cards is extensive lounge access. Cardholders receive complimentary access to:
- Amex Centurion Lounges
- Priority Pass Select lounges (excluding restaurants)
- Delta Sky Clubs (when flying Delta the same day)
- Airspace lounges
- Escape lounges
- Plaza Premium lounges
This benefit alone can offset a significant portion of the annual fee for frequent travelers. Amex’s growing network of stylish Centurion Lounges provides a premium experience with complimentary food, beverages, and amenities.
Both cards also confer complimentary Hilton Honors Gold and Marriott Bonvoy Gold Elite status for a suite of hotel benefits like room upgrades, late checkout, bonus points, and more.
Other Benefits of the Amex Platinum Cards
In addition to the perks mentioned above, both the personal and business versions of the Amex Platinum card offer a range of other valuable benefits:
- Travel Protections: Coverage like trip delay insurance, trip cancellation/interruption insurance, baggage insurance, car rental loss and damage insurance, and more.
- Shopping Protections: Benefits like return protection, purchase protection, and extended warranty.
- No Foreign Transaction Fees: Save money when making purchases abroad.
- Premium Car Rental Privileges: Complimentary elite status with Avis, Hertz, and National car rentals.
- Fine Hotels & Resorts Benefits: Perks like room upgrades, free breakfast, early check-in, late checkout, and more at select luxury hotels.
- International Airline Program: Access to discounted premium international airfare (Business Platinum only).
- 35% Points Rebate for Premium Flights: Get 35% of your points back when booking first or business class flights, or any fare class on your selected airline, through Amex Travel (up to 1 million points per calendar year, Business Platinum only).
Both cards provide a comprehensive suite of travel and shopping protections, along with premium car rental privileges and elite-like benefits at luxury hotels when booking through Fine Hotels & Resorts.
The Business Platinum also offers an International Airline Program for discounted premium international airfare and the valuable 35% points rebate for booking premium flights or flights on your selected airline through Amex Travel.
Conclusion: Which Amex Platinum Card Is Right for You?
Both The Platinum Card from American Express and The Business Platinum Card from American Express provide tremendous value through robust travel benefits, annual credits, lounge access, elite hotel status, and flexible Membership Rewards points.
For individuals without substantial business expenses, the personal Amex Platinum is likely the better choice due to its more attainable welcome bonus spending requirement and array of lifestyle credits.
However, for business owners and those with hefty expenses in categories like construction materials, electronics, software, and shipping, the Business Platinum card’s higher earning rates and business-focused credits could make it the more valuable option.
Frequent premium travelers who can maximize benefits like lounge access, the 35% rebate on premium flights (Business Platinum), and hotel elite status may even consider holding both cards simultaneously.
Ultimately, evaluating your spending patterns, travel habits, and ability to utilize each card’s respective benefits is crucial in determining which premium Amex Platinum product deserves a spot in your wallet.
FAQs About the Amex Platinum Cards
Is the Amex Platinum worth it for the average person?
The personal Amex Platinum may not be worth it for the average person due to its high $695 annual fee. However, if you can maximize the card’s annual credits for airline fees, hotel bookings, Uber rides, digital entertainment, and more, the benefits can easily outweigh the fee. Frequent travelers who will utilize the lounge access and other travel perks are also excellent candidates.
Can I have both the personal and business Amex Platinum cards?
Yes, it is possible to hold both the personal and business versions of the Amex Platinum simultaneously. However, you’ll need to pay two separate annual fees and meet the respective welcome bonus spending requirements.
What credit score do I need for the Amex Platinum cards?
Both the personal and business Amex Platinum cards require excellent credit, generally considered a FICO score of 700 or higher. The higher your credit score, the better your chances of approval.
What is the 35% airline bonus on the Business Platinum?
The Business Platinum card offers a 35% rebate when you use Membership Rewards points to book flights on your selected airline, or any first or business class flight, through Amex Travel. This benefit is capped at 1 million points per calendar year.
Are there any downgrades or credits for military members?
Yes, active-duty military members can receive a waiver on annual fees for the personal and business Amex Platinum cards, per the Military Lending Act (MLA).
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