The Amex Business Platinum Card has some updated features for 2022, including expanded rewards and valuable fee credits. This card could be worth it if you regularly spend on business travel.
If you run a business, opening a business credit card could make sense for managing cash flow. At the same time, you could pick up some valuable rewards or enjoy some premium benefits.
The Business Platinum Card® from American Express is designed to deliver top-shelf rewards and benefits for business owners who charge travel or everyday spending. It rates as one of the best small business rewards credit cards, leading the luxury travel perks category.
This card could be a good fit for your business – if you’re comfortable paying a higher annual fee. Here’s a closer look at the Amex Business Platinum Card benefits and features to help you decide if it’s worth it.
American Express Business Platinum card’s benefits in 2022
With the updated American Express Business Platinum benefits in 2022, cardmembers have new benefits worth up to $1,000 a year, like:
- Dell statement credit from $200 to $400 per year
- $90 per quarter statement credit for Indeed and recruiting services
- $150 annual statement credit on select Adobe purchases, including Adobe Creative Cloud and Acrobat Pro DC with e-sign
- $120 annual statement credit for purchases made directly with any U.S. wireless telephone provider, up to $10 per month
- Charges over $5,000 also earn 1.5X points, and all other purchases earn 1X points
- $189 annual statement credit for CLEAR® membership
Aside from statement credits, the Amex Business Platinum Card updated its rewards program. You can now earn 1.5X Membership Rewards points on purchases, up to $2 million per calendar year, in these new categories:
- Electronics goods, retailers, software and cloud service providers
- Construction materials and hardware suppliers
- Shipping providers
Furthermore, cardmembers enjoy some existing benefits, including:
- 5X points on flights and prepaid hotels booked through AmexTravel.com
- $200 annual airline fee credit for incidental fees at one qualifying airline
- 35% points back when you use Pay with Points to purchase all or part of airline fares with American Express Travel (up to 1 million points back per calendar year)
- Cell phone protection of up to $800 per claim for two approved claims per 12-month period
- Up to $100 credit toward Global Entry or $85 for TSA PreCheck every five years
Payment flexibility with Pay Over Time
As far as travel benefits go, cardmembers still have premium airport lounge access, though you now have access to more airport lounges worldwide. The American Express Global Lounge Collection includes more than 1,200 airport lounges in more than 500 airports and 130 countries worldwide.
If you prefer to fly privately, you can get a 20% discount on Wheels Up Connect and a 40% discount on Wheels Up Core memberships. You can also get a $500 or $2,000 credit added to your Wheels Up account to use toward an initial flight within the first year of membership.
Amex Business Platinum benefits also include Global Dining Access by Resy. This feature lets you book exclusive reservations at some of the top restaurants around the globe. You can also get other extras, such as VIP status. All of these updated benefits are things you may not get with a personal or corporate credit card.
The Amex Business Platinum Card vs. other business cards
The Business Platinum Card from American Express could be ideal if you regularly spend on business travel or you want to take advantage of the card’s wide variety of features.
Here’s how the Business Platinum Card from American Express compares to similar business credit cards.
|Business Card||Introductory Bonus||Rewards Rate||Annual Fee||Average yearly rewards value|
|The Business Platinum Card® from American Express||$695||$1,843|
|CitiBusiness® / AAdvantage® Platinum Select® Mastercard®*||65,000 AAdvantage miles if you spend $4,000 in first 4 months||$99 (waived first 12 months)||$1,352|
|Ink Business Preferred® Credit Card||100,000 points if you spend $15,000 in the first 3 months||$95||$918|
|Southwest® Rapid Rewards® Premier Business Credit Card*||60,000 points if you spend $3,000 in the first 3 months||$99, applied to first billing statement||$1,681|
|Delta SkyMiles® Reserve Business American Express Card||Earn 60,000 bonus miles and 10,000 MQMs after spending $4,000 in the first 3 months||$550||$1,616|
Is the American Express Business Platinum Card the best business card?
Whether the American Express Business Platinum Card is the best business rewards card depends on how your business spends. If you frequently spend on flights and hotels, you might appreciate the 5X points on those purchases. The introductory welcome bonus is also quite generous compared to other business rewards cards.
On the other hand, if you don’t charge travel as often or you don’t think you’ll take full advantage of this card’s features and benefits, then the annual fee may not be worth it to you. As you consider applying for the Amex Business Platinum Card, here are a few things to keep in mind.
The Amex Business Platinum Card offers the largest introductory welcome bonus of the business rewards cards compared above. The trade-off, of course, is that you’ll have to spend $15,000 in purchases during the first three months to qualify for the bonus.
But that’s on par with the minimum spending requirement for the Ink Business Preferred Card, which offers a 100,000-point welcome bonus. So consider your typical spending habits to see if the Amex Business Platinum Card is within reach.
If you spend $5,000 per month on average already, you may find it relatively easy to qualify for the introductory bonus. If you don’t spend that much, you may want to consider a card with a lower sign-up bonus spending requirement.
As far as travel rewards go, the Amex Business Platinum Card excels for earning points on flights. With the Delta SkyMiles Reserve Business American Express Card and the Southwest Rapid Rewards Premier Business Credit Card, you’re only earning 3X miles, which only apply to flights booked with Delta or Southwest, respectively.
However, the Amex Business Platinum Card earns 5X points on flights and hotels booked through AmexTravel, so you have more flexibility when it comes to choosing which airlines or hotels you want.
Some cards may offer a higher rewards rate on everyday purchases, however. For example, the Ink Business Preferred Card offers 3X points on shipping, cable, internet service, phone services and travel, up to the first $150,000 in combined purchases each year. If those expense categories make up a big part of your budget, you might appreciate a card that pays you a higher rewards rate on those purchases.
The Amex Business Platinum Card has the highest annual fee overall than the other business rewards cards mentioned here.
So is the annual fee worth it? Again, it depends on how you spend. If you’re regularly taking advantage of the various statement credits this card offers, then that could cancel out the fee and then some. And the more you spend on travel, the faster you could earn back the fee in rewards value.
But you may prefer a card with a lower annual fee if you’re trying to trim costs. However, it’s important to remember that a lower annual fee may also mean fewer features and benefits.
In terms of helping you manage operational costs, the Amex Business Platinum Card offers benefits that other cards do not. For example, you won’t find Dell, Indeed, Adobe or cell phone credits with the other cards mentioned here.
While some of the cards included here offer airline fee credits or credits toward Global Entry or TSA PreCheck, those are travel-focused. If you want a card that can save you money on the cost of doing business, then the American Express Platinum Business Card fits the bill.
American Express Business Platinum travel benefits are some of the best around if you’re looking for a luxury travel experience. Airport lounge access alone sets it apart, as that’s something you won’t find with every business rewards card. The $200 airline fee credit also enhances the card’s value, as does the opportunity to get up to 35% of your points back each year when you pay with points for travel.
Aside from that, you also get travel benefits such as Marriott Bonvoy Gold Elite Status, Hilton Honors Gold Status and the Fine Hotels + Resorts program. Then there are the fee credits for Clear membership and Global Entry or TSA PreCheck.
Should you get a business credit card? The Amex Business Platinum Card appeals to business owners who spend heavily on travel and want to enjoy an extensive range of benefits with a rewards card. It can also offer more purchasing power if you’re looking for a high-limit business card option. Calculating your estimated annual spending can help you determine what you might earn in rewards each year with this card. That can help you decide if the Amex Business Platinum is best suited to your business’ needs.
*All information about the CitiBusiness® / AAdvantage® Platinum Select® Mastercard® and Southwest® Rapid Rewards® Premier Business Credit Card has been collected independently by CreditCards.com. The issuer did not provide the content, nor is it responsible for its accuracy.