Who should (and shouldn’t) get the Amex Business Platinum?

Editor’s note: This is a recurring post, updated regularly with new information and offers.

Few cards — intended for consumers or small business owners — capture the “wow” factor quite like it American Express Business Platinum® Card.

ONE welcome bonus worth three times the card’s annual fee? Check. Special rewards on general business expenses, airline tickets, and prepaid hotel reservations? Check. Great travel perks, incl Annual airline fee credit And Exclusive airport lounge access? Review.

It’s no surprise that this is one Must-have card for business travelers. However, that doesn’t mean every small business owner can justify carrying this card. It’s a great card but not one that’s right for everyone. So let’s see who should – and shouldn’t – hold out Amex Business Platinum.

The Business Platinum card is offering 150,000 Member Rewards® points after you spend $20,000 on qualifying purchases within the first three months of card membership. Based TPG’s valuationThis reward is worth $3,000.

Minimum spending can be a tall order for many small business owners. However, if you have high inventory turnover or are growing your business, this card can make your regular business operations much more rewarding.

The welcome offer isn’t the only reason to consider this card. Here are some of the perks you can get, including some benefits not listed above American Express Platinum® Card (personal version of this card):

• Earn 1.5 points for every dollar above Purchase from 5,000 USD or more and qualifying purchases in the US for electronics retailers, software, cloud service providers, building materials, hardware supplies, and shipping providers ( on these purchases up to $2 million per calendar year, then 1 point per dollar)
• 35% discount when you pay with points for first or business class tickets on a selected eligible airline booked through amextravel.com (up to 1 million points per calendar year)
• Annual statement credits — worth over $1,000 combined — with Dell, Indeed, Adobe, Clear and wireless phone services. registration required

Like the personal version of this card, you will also enjoy the following benefits:

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For all these benefits, you’ll have to pay a $695 annual fee (see exchange rates and fees).

This is a no-brainer, especially with all the perks this card has for global travelers. One benefit not mentioned above is There are no foreign transaction fees (see exchange rates and fees), meaning you won’t be affected by purchases made outside the United States

Businesses have large expenses

Most cards offer 1 point per dollar on non-rewards spending. But if your business regularly makes large purchases of $5,000 or more, the 1.5 points per dollar bonus on large purchases is better than what you’ll find elsewhere . And if your business earns thousands of dollars from monthly card purchases, asking to spend that on a welcome bonus won’t seem daunting.

Owners value flexibility points

The most profitable way to redeem Membership Rewards points is to transfer them to one of Amex’s many points Partner airline or hotel program. If you’re willing to put in the time and research, going the transfer route can increase your points value even higher than our valuation.

For example: Brian Kelly, founder of The Points Guy transfer 68,000 points to British Airways flying first class from London (LHR) to Accra (ACC) Plus under $500 in taxes/fees – a flight could cost him more than $11,000 in cash. That redemption is worth 16 cents per point.

Holders of an American Express® Business Gold Card

If you already have American Express® Business Gold Card, which can provide unique benefits when earning Membership Rewards. Use Business Gold Amex to fill in the blanks on your Business Platinum card. With Business Gold, you’ll earn 4 points per dollar on the two categories where you spend the most each month from the following list (terms and limits apply):

• The United States buys advertising in selected media
• Americans buy goods at gas stations
• Buy American products at the restaurant
• US purchases are made from select technology vendors
• Monthly wireless phone service charges are made directly from the wireless phone service in the United States
• Transit purchases include trains, taxis, ride-sharing services, ferries, tolls, parking, buses and subways

While you’re limited to $150,000 in combined purchases per calendar year to earn 4 points per dollar (you only earn 1 point per dollar after reaching that cap), but that 8% return (based on TPG valuation) is quite attractive.

Plus, Amex will even recalculate your top spending categories each month to ensure you earn the maximum points possible.

Related: Card review: American Express Business Gold Card

If you can’t meet the spending requirement for the welcome bonus or justify paying the $695 annual fee, there are better options for you, including a free annual fee Ink Business Cash® Credit Card from Chase.

The person has a personal version of the card

Because there are so many Many similarities between the business and personal versions of this card, it’s hard to justify having both. First, you need to determine whether you can spend enough to earn both rewards. Besides the bonus, another important consideration in whether to get the business version is keep your personal and business expenses separate and whether you can afford to pay the nearly $1,400 annual fee for your card (see exchange rates and fees for individual Amex Platinum).

Businesses need many employee cards

While you can get up to 99 Platinum employee cards, Amex says it will charge you $350 annually for each additional Business Platinum card you request (See rates and fees) and $50 annually if you request an Amex Business Gold card for your employees to use (see exchange rates and fees).

That’s a pretty hefty price to pay, as there are other business card options that offer free employee cards, like Capital One Spark Miles for Business (see exchange rates and fees).

TPG reviews Amex Business Platinum become the one best business card with good reason: It’s a great value for frequent business travelers, and it’s currently offering one of the best value welcome offers on the market. If you can meet the hefty spending requirement, you probably don’t need much more convincing to get this card.

On the other hand, it’s a much riskier proposition (okay, maybe a bad idea) for a determined business owner—especially when there are so many great options out there for earning points, miles and expense reimbursement that matter most to you.

Register here: American Express Business Platinum® Card

For rates and fees on the Amex Business Platinum card, click This.
For Amex Business Gold rates and fees, click This.
For Amex Platinum rates and fees, click This.