Amex Business Platinum: The Ultimate Power Card or Just an Overpriced Perk?

Introduction

The American Express Business Platinum Card is one of the most prestigious business credit cards available, packed with premium travel perks, business-friendly rewards, and statement credits designed to offset its hefty $695 annual fee. But is it the right card for your business? In this review, we’ll break down the pros, cons, and key features to help you decide if the Business Platinum is a smart investment for your company.

Key Benefits of the Amex Business Platinum

Massive Welcome Offer: A Strong Incentive to Apply

New cardholders can earn a staggering 150,000 Membership Rewards points after spending $20,000 within the first three months. While the spending requirement is high, for businesses with significant operating expenses, this bonus can translate into thousands of dollars in travel value. Depending on how you redeem them, Membership Rewards points can be worth anywhere from $1,500 to over $3,000, especially when transferred to airline and hotel partners. This welcome bonus makes the card especially appealing for businesses looking to leverage travel rewards.

Premium Travel Perks: Best-in-Class Airport Benefits

Frequent business travelers will find the Business Platinum’s airport perks hard to beat. Cardholders get access to over 1,400 airport lounges worldwide through the American Express Global Lounge Collection, which includes Centurion Lounges, Priority Pass (enrollment required), Delta Sky Clubs (when flying Delta), and more. The card also offers an annual $200 Airline Fee Credit, which reimburses incidental charges like checked bags and seat selection on a selected airline. Additionally, the Business Platinum covers the cost of Global Entry or TSA PreCheck, reimbursing the application fee every four years. These perks can make business travel significantly more comfortable and efficient.

Strong Earning Potential for Travel & Business Spending

The Business Platinum Card is built for companies that spend heavily on travel and large purchases. It earns 5X Membership Rewards points on flights and prepaid hotels booked through AmexTravel.com, making it one of the highest-earning business cards for airfare. Additionally, it offers 1.5X points on eligible business categories and any purchase of $5,000 or more, up to $2 million in spending per year. Compared to other top business cards like the Chase Ink Business Preferred, Capital One Venture X Business, and Amex Business Gold, the Business Platinum stands out for travel rewards and large business purchases.

High-Value Business-Focused Credits

To help justify the high annual fee, the Business Platinum offers several statement credits designed for business expenses. Cardholders receive up to $400 in Dell Technologies credits, split into $200 for the first half of the year and $200 for the second. For businesses hiring through Indeed, the card provides up to $360 in credits annually, which can be crucial for recruiting talent. Additionally, users receive up to $150 in Adobe credits for eligible purchases and up to $120 in wireless telephone credits ($10 per month), making it a strong choice for businesses relying on creative software and phone services.

Additional Perks for Business Owners

Beyond rewards and travel perks, the Business Platinum offers several features designed to support business owners. Unlike traditional credit cards, it has no preset spending limit, meaning purchasing power adapts based on your spending habits and payment history. This flexibility can be a game-changer for businesses with fluctuating expenses. The card also comes with built-in expense management tools, including integration with QuickBooks and detailed tracking to streamline financial reporting. Additionally, cardholders receive elite status with Marriott Bonvoy Gold and Hilton Honors Gold, which provide room upgrades and bonus points on hotel stays. For frequent travelers, the CLEAR Plus Credit covers up to $189 per year for expedited airport security, helping save time at busy checkpoints.

With its combination of luxury travel perks, business-focused credits, and powerful rewards structure, the Amex Business Platinum is a powerhouse for high-spending entrepreneurs. However, its value depends on whether you can fully utilize the benefits—making it crucial to analyze your business’s spending and travel needs before applying.

Where the Amex Business Platinum Falls Short

High Annual Fee: Does It Justify $695?

At $695 per year, the Amex Business Platinum is one of the most expensive business credit cards on the market. While its perks and credits can easily outweigh the fee for the right business owner, not every company will maximize these benefits. Businesses that spend heavily on travel, technology, and hiring services will find the card’s credits particularly valuable. The combination of $400 in Dell credits, $360 for Indeed, $150 for Adobe, and $120 for wireless services adds up to over $1,000 in potential value—more than covering the annual fee. However, this assumes the business is already spending in these areas. If your company doesn’t use these services, the value of these credits diminishes significantly, making it harder to justify the high cost.

Expensive Authorized User Fees

Adding employees to the Amex Business Platinum account comes at a steep price—$350 per additional cardholder. While this grants them access to travel perks like Global Lounge Collection and elite status at Marriott and Hilton, not every business will find this worthwhile. If employees frequently travel for work and can take advantage of airport lounges, it may be a valuable investment. However, for businesses that simply need spending power for team members, a no-fee or lower-fee business card might be a better solution. The best approach is to reserve authorized user cards for key employees who will use the benefits while issuing a separate, lower-cost card for general spending.

Complex Credit Redemption: Hard to Use All Perks

One of the biggest challenges with the Amex Business Platinum is the effort required to maximize its value. Unlike a straightforward cash-back card, where rewards accumulate passively, this card requires active management. The statement credits for Dell, Indeed, Adobe, and wireless services are issued in increments—such as $200 for Dell every six months and $10 per month for wireless services—which means businesses need to track and use them consistently. While these perks are fantastic for companies that naturally spend in these categories, businesses that don’t will find themselves leaving money on the table.

Limited Acceptance: The Amex Issue

Although American Express has made strides in expanding its merchant network, it still isn’t as widely accepted as Visa or Mastercard. This can be a problem for businesses that need to make payments to suppliers or vendors who don’t take Amex. Companies that rely on flexibility in payment options may find themselves needing a backup business card. The best strategy is to pair the Amex Business Platinum with a widely accepted Visa or Mastercard business card—such as the Chase Ink Business Preferred or Capital One Spark Cash Plus—to ensure full coverage for all business expenses.

Who Should Get the Amex Business Platinum?

Best for These Business Owners

The Amex Business Platinum is ideal for frequent business travelers who can take full advantage of its premium travel perks, including lounge access, CLEAR membership, and airline fee credits. It also works well for companies that frequently make large purchases—especially those over $5,000—since the 1.5X earning rate on these transactions can add up quickly. Additionally, businesses that regularly use Dell, Indeed, and Adobe services will find the statement credits highly valuable, making it easier to justify the annual fee.

Who Should Skip It?

Small business owners who won’t fully utilize the statement credits or premium travel benefits may find the Amex Business Platinum too expensive. If your business prioritizes cash-back rewards over travel points, a card like the Chase Ink Business Unlimited or the Capital One Spark Cash Plus may be a better fit. Additionally, companies that prefer to keep overhead costs low may want to opt for a business card with little to no annual fee, such as the Amex Blue Business Plus, which still earns valuable Membership Rewards points without the high cost of the Business Platinum.

Final Verdict: Is the Amex Business Platinum Worth It?

The American Express Business Platinum Card is a top-tier business credit card designed for entrepreneurs who prioritize travel perks and high-end business benefits. With lounge access, airline credits, elite hotel status, and a generous welcome bonus, the card delivers exceptional value for frequent business travelers. Additionally, its statement credits for Dell, Indeed, Adobe, and wireless services can easily offset the $695 annual fee—if your business already spends in these categories.

However, this is not a one-size-fits-all card. Business owners who don’t travel frequently or who prefer straightforward cash-back rewards may struggle to justify the high cost. Likewise, those who don’t use the various statement credits may find that a lower-fee business card, such as the Chase Ink Business Preferred or Capital One Spark Cash Plus, is a better fit.

Ultimately, the Amex Business Platinum is a powerhouse for the right business owner. If your company can maximize its benefits, this card can more than pay for itself. But if you prefer simplicity or lower costs, there are other great options to consider.

FAQ: Common Questions About the Amex Business Platinum Card

Does the Amex Business Platinum have foreign transaction fees?
No, the card has no foreign transaction fees, making it ideal for international business travelers.

Can you carry a balance on the Amex Business Platinum?
Yes, the Pay Over Time feature allows cardholders to carry a balance on eligible purchases, though it comes with interest charges.

How do the Dell, Indeed, and Adobe credits work?
These are annual credits, but they are often split into semi-annual or monthly increments. Careful tracking is required to maximize them.

Is the Amex Business Platinum better than the Chase Ink Business Preferred?
It depends on your business needs. The Amex Business Platinum is best for premium travel perks, while the Chase Ink Business Preferred offers lower fees and more flexible points for small businesses.

Should I get the Amex Business Platinum if I already have the personal Amex Platinum?
It depends on whether you can use the business-specific benefits. If you travel often for work and can use Dell, Indeed, and Adobe credits, having both cards may be worth it.

The Amex Business Platinum Card offers exceptional rewards and benefits for business owners. It's a game-changer for managing expenses and earning travel perks.

John Doe

★★★★★