The Business Platinum Card from American Express Review 2024

The American Express Business Platinum Card is a hefty premium credit card filled with numerous perks and features intended for business owners who spend thousands of dollars every month on business expenses, services, and travel. To be eligible for this card, you’ll need to have good to excellent credit. Your exact credit limit, APR, and card approval will depend on your personal credit as well as the credit history of your business or startup:

• Credit score ranging from 690–850 (i.e., good to excellent)
• Active business or startup under which you’ll be opening the card
• Ability to pay the $695 annual fee

Although the annual fee and overall carrying costs of the American Express Business Platinum Card may seem significant at first glance, the following few sections will show you why this is an excellent card that has the potential to pay for itself if used properly in a way that maximizes your perks and rewards. 

If you’ve been holding off on obtaining a premium credit card for your business and meet the qualification requirements outlined above, this may be an excellent card to start with.

• Access to American Express Global Lounge Collection Centurion Network of Lounges
• Airline fee credit every year for a selected qualifying airline of your choice
• Clear credit annually to breeze through security at select airports and stadiums in the United States
• Airline bonus points after you use points to book flights on AmEx Travel
• Fine Hotels & Resorts Program
• American Express Points
• Automatic elite status
• Bonus categories for additional point rewards
• Premium travel protections

• High annual fee carrying costs
• Requires good to excellent credit to be approved for and obtain this card
• Complicated rewards program that can be challenging to navigate at first glance

Since the Business Platinum Card is one of the highest premium credit cards offered by American Express, the features, perks, and rewards offered to cardholders are significant and potentially worth the annual fee. Let’s discuss some of the best rewards and benefits offered by this card, as well as typical interest rates and fees you should be aware of when applying for this card for your own startup or business. 

• Centurion Lounge Access through the prestigious American Express Global Lounge Collection
• Access to premium luxury resorts and hotels through the Fine Hotels & Resorts Program
• $200 credit every year that can be applied to airline fees for a specific airline you select
• 35% bonus points back if you book travel using the Amex Travel system
• $189 Clear credit every year for expedited screening and quick security
• 5x points on prepaid hotels and flights
• 1.5x points on eligible purchases within key business categories; this includes construction suppliers, software providers, electronic retailers, and more
• 1.5x points on eligible purchases that are worth $5k or more in a single transaction
• 1x points on all other eligible purchases on the Business Platinum Card
• Over $1,000+ in business value perks, rewards, and features

• Variable APR: 17.99%–25.99% based on your creditworthiness
• Penalty APR: 29.99% if you make more than two late payments in a 12-month period, do not pay the minimum payment by the closing date, or make a payment that is later returned

• Annual Fee: $695
• Late Payment Fee: $39 or 2.99% of past due amount (whichever is greater)
• Returned Payment Fee: $39
• No foreign transaction fees

The American Express Business Platinum Card is jam-packed with features ranging from Centurion Lounge Access to premium credit card rewards and extensive point multipliers when you use your card for select business expenses.

This is arguably one of the best premium business rewards cards available on the market today and one that more than makes up for its annual fee if you take advantage of all of the included perks. If you’re a business owner who travels frequently and spends thousands of dollars every month on business expenses, then this card will put money in your pocket when you use it as its intended to be used and don’t rack up late fees or significant interest charges. 

The American Express Business Platinum Card is one of the best premium credit cards your business or startup company can get when it comes to maximizing rewards, perks, and premium credit card offerings. 

If you spend thousands of dollars on your business every single month, you should consider obtaining this card due to the significant amount of points and premium perks you may be able to obtain in short order. To determine whether you’ll be able to maximize points in the first few months of ownership, remember that American Express requires your business to spend $15,000 in the first three months in order to qualify for 120,000 Membership Rewards Points. This is a significant point value that can be used on business travel, cash back, or other American Express rewards as soon as it's obtained.

Even though the $695 annual fee may seem high initially, you’d likely get most of this annual fee back in the form of perks and obtained rewards. With the annual fee refund perk and the Clear security screening credit, those two perks by themselves already cover almost half of this card’s annual fee. 

All in all, the American Express Business Platinum Card is an excellent choice for business owners and startup founders who have hefty business expenses on a monthly basis and would like to maximize their rewards and perks when on the go and traveling.