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Business Platinum Card® from American Express

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The Business Platinum Card® from American Express is a well-rounded charge card with a heavy focus on travel benefits.

With a $595 annual fee, this is not the cheapest business card available. But it offers travel perks and other benefits that can be a huge help to your business.

The card’s slogan is “traveling for business doesn’t have to feel like work,” a likely attempt to appeal to seasoned business travelers. You get access to an extensive collection of airport lounges — more than 1,200 across 130 countries. You also get a chance to earn up to 75,000 Membership Rewards® points after meeting the spending requirements. You also get up to a $200 airline fee credit at a qualifying airline.

The Business Platinum Card® from American Express comes with many other travel-related benefits, such as a fee credit for Global Entry or TSA Pre✔®. If business travel is high on the list of your expenses, The Business Platinum Card® from American Express can make your travel more enjoyable and save you some serious money.

Where The Business Platinum Card® from American Express stands out

Earn Earn 75,000 Membership Rewards® points after you spend $15,000 on qualifying purchases within your first 3 months of Card Membership. You can transfer your points to 18 partner airlines or three hotel programs. Or you can use them to book a flight and get 35% of your points back.

You get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com. Get 50% more Membership Rewards® points. That's an extra half point per dollar, on each eligible purchase of $5,000 or more. You can also earn 1X points per $1 you spend on eligible purchases.

Making air travel more civilized is something that The Business Platinum Card® from American Express does exceptionally well. While there are several premium credit cards providing airport lounge benefits, the access offered by this card is outstanding. Here are the airport lounges to which you can get access:

  • The Centurion® Lounge
  • International American Express Lounges
  • Delta SkyClub® (when flying on Delta)
  • Priority Pass Select (if enrolled)
  • Airspace
  • Escape Lounges

Other major benefits include up to $200 in air travel statement credits per calendar year for incidental fees, such as checked bags, in-flight food and beverages, and more. You can also receive a statement credit worth up to $100 every four years for Global Entry or TSA Pre✔.

The Business Platinum Card® from American Express offers a few elite statuses for hotel loyalty programs. Cardholders receive complimentary Marriott Rewards Gold status. You will also receive Gold status with Hilton Honors, which gets you free breakfast and upgrades to executive rooms if available.

Where it falls short

Aside from the $595 annual fee, The Business Platinum Card® from American Express is so heavily focused on travel benefits that it might feel sometimes that it neglects everything else.

Aside from travel rewards, there is not a ton you can do with the Membership Rewards® points. You can’t directly redeem them for cash, although you can use them to cover your charges at 0.6 cents per point. If you shop on Amazon, you’ll get 0.7 cents per point. Gift cards? Up to 1 cent per point.

The point is that Membership Rewards® points work best for two purposes: to book your flights or prepaid hotels on American Express’ travel site and get 35% of your points back (on one eligible airline) or to transfer your points to airline mile programs.

Earning rates present another issue. The 5X earning rate per $1 spent on flights and prepaid hotels is great, but the only other elevated earning category is 1.5X on business purchases of $5,000 or more. As a business owner, you might want to earn more on spending in other categories, such as office supplies, advertising or telecommunications. It’s also strange that the card, which is so focused on travel, doesn’t offer better earning rates on dining and gas purchases.

But the most troubling aspect of The Business Platinum Card® from American Express is the sky-high spending requirement for earning the bonus points — Earn 75,000 Membership Rewards® points after you spend $15,000 on qualifying purchases within your first 3 months of Card Membership.

What type of business owner the card is best for

If you travel plenty for business and have large expenses — and if you prefer to earn and redeem rewards on travel — you’re likely to benefit from this card quite nicely. If you’re less inclined to travel frequently and more interested in earning better returns on spending in other categories, this card might not be for you.

Additional card benefits

The Business Platinum Card® from American Express is so feature-rich that listing all its benefits would take a lot of space. Here are the most appealing benefits that we haven’t mentioned yet:

  • No foreign transaction fees
  • Fine Hotels & Resorts privileges
  • 10 flight segment passes for Gogo Inflight Internet
  • Boingo American Express Preferred Plan — complimentary Wi-Fi access at one million-plus hot spots worldwide
  • Premium Roadside Assistance (get help with your car four times a year)
  • Complimentary concierge assistance
  • Pay Over Time (even though it’s a charge card that you’re supposed to pay in full every month, you can enroll in this feature if that suits your business needs better)
  • Extended warranty and purchase protection
  • Premium Global Assist Hotline, including emergency medical transportation and evacuation protection

How does it compare to the Ink Business Preferred℠ Credit Card from Chase?

The annual fees

The Chase Ink Business Preferred℠ Credit Card would be much easier on your wallet with these annual fees: $95 vs. $595.

The rewards

Chase’s Ultimate Rewards® and American Express’ Membership Rewards® programs are somewhat similar. Both are heavily focused on travel, and both offer points transferable to airline and hotel programs.

The welcome bonus

Both cards offer comparable welcome bonuses. The Business Platinum Card® from American Express lets you Earn 75,000 Membership Rewards® points after you spend $15,000 on qualifying purchases within your first 3 months of Card Membership. While the Chase Ink Business Preferred℠ Credit Card lets you Earn 100,000 bonus points after you spend $15,000 on purchases in the first 3 months from account opening..

Earning opportunities

Unlike The Business Platinum Card® from American Express , the Chase Ink Business Preferred℠ Credit Card doesn’t have a 5% category, but it does better in well-rounded earning opportunities in terms of business expenses. Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.

Redemption opportunities

Both cards allow cardmembers to transfer points to partner airline programs, but The Business Platinum Card® from American Express offers better redemption rates for booking flights with 35% of your points back. Having said that, the American Express card limits this benefit to only one eligible airline. With Chase, points are worth 25% more when redeemed via the Ultimate Rewards portal (80,000 points equal $1,000 toward travel), and it’s valid on multiple airlines and hotels. The Ink Business Preferred℠ Credit Card also allows straightforward cash redemptions.

Additional perks and benefits

In terms of perks, The Business Platinum Card® from American Express is a clear winner. The Chase Ink Business Preferred℠ Credit Card doesn’t offer lounge access, hotel elite status, free in-flight Wi-Fi, premium roadside assistance or most other perks offered by The Business Platinum Card® from American Express . But it has its moments, too. Here are the benefits offered by the Chase card that the American Express card is lacking.

Trip cancellation/trip interruption insurance

Inclement weather — or getting sick — can happen. If your trip is canceled or cut short, you can be reimbursed up to $5,000 per trip for prepaid, nonrefundable travel expenses. That includes hotels, tours and passenger fares.

Auto Rental Collision Damage Waiver

This provides reimbursement up to the actual cash value of the vehicle for theft and collision damage. It covers most cars in the U.S. and abroad.

Cellphone protection

Pay your monthly cellphone bill with your Chase Ink Business Preferred℠ Credit Card and you can get up to $600 per claim in cellphone protection against covered theft or damage for you and your employees listed on that bill.

The Business Platinum Card® from American Express Ink Business Preferred℠ Credit Card
Sign-up bonus/welcome offer Earn 75,000 Membership Rewards® points after you spend $15,000 on qualifying purchases within your first 3 months of Card Membership. Earn 100,000 bonus points after you spend $15,000 on purchases in the first 3 months from account opening.
Rewards rate 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com. Get 50% more Membership Rewards® points. That's an extra half point per dollar, on each eligible purchase of $5,000 or more. Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.
Regular purchase APR N/A 15.99%-20.99% Variable
Airport lounges Yes, more than 1,200 worldwide No
Free emergency evacuation Yes No
Trip cancellation/trip interruption insurance No Yes
Annual fee $595 $95
Foreign transaction fee None None

The information related to The Business Platinum Card® from American Express  and Ink Business Preferred℠ Credit Card has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to American Express credit card offers. See americanexpress.com for more information.

 

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