Business Platinum Card® from American Express Review

By: Heather Hanks Aug. 5, 2019

The Business Platinum Card® from American Express is the perfect card for those looking to get the most back from their business expenses. It offers 1.25 reward points for virtually every dollar you spend on purchases. You’ll also enjoy a 40,000 signing Welcome bonus offer when you spend $5,000 within the first three months of membership and the best travel coverage policies around.

With the Business Platinum Card® from American Express, you can use your points to pay for flights to anywhere in the world. Your points can also be applied toward statement credit and online purchases from Amazon. With a tax deductible annual fee, it’s the card your business can’t be without. Check out our review of the Business Platinum Card® from American Express below.

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Overall Rating

What is the Business Platinum Card® from American Express?

The Business Platinum Card® from American Express is one of the top business cards offered by American Express. It’s ideally suited for the busy traveling professional who wants the most back from their business card. The Amex Business Platinum card works by allowing you to earn points for all your purchases. You can redeem these points for future travel expenses, such as flights, hotel rooms, car rentals, dining, and more. With a wide range of cards to choose from, the Business Platinum Card® from American Express is designed to help you maximize your business expenses.

In addition to receiving rewards for purchases, the Business Platinum Card® comes with business solutions tools, such as cash flow management, expense management reports, and business servicing. You can manage your business account online at any time of day or night. There is also no preset limit on your spending, which means that your reward potential is limitless. The Business Platinum Card® from American Express is the only card you’ll need for all your business expenses. You’ll enjoy a number of rewards and benefits.

Here are some of the primary details of the Amex Business Platinum Card® :

  • Charge card (not a credit card), which means balance must be paid in full each month
  • $499 annual fee that may be tax deductible
  • $199 for supplementary card holders and $50 for Business Gold Cards
  • 40,000 Welcome bonus offer when you spend $5,000 within the first three months of membership
  • Earn 1.25 points for virtually every dollar spent on your card
  • Enjoy as many as 55 interest free days and power that grows as you spend
  • Gain access to over 1,200 airport lounges in over 130 countries around the world
  • Points can be redeemed for flights anywhere in the world, car rentals, dining, hotels and more
  • Business and purchase coverage protection
  • Extensive travel insurance

How Does the Business Platinum Card® from American Express Work?

The Business Platinum Card® from Amex card allows you to earn points every time you use it. These points can be redeemed for more travel related expenses, such as flights, car rentals, hotels, dining, and more. Earn 1.25 points for every dollar you spend on your card. Points can be redeemed for flights in Canada and anywhere in the world if you use fixed points. Refer a friend and you’ll earn as many as 25,000 bonus points for a maximum of 225,000 annual membership rewards points. The best part is that there is no cap on the amount of points that you can earn. Your points also never expire.

In addition to flights and hotel expenses, you can use your points toward statement credit, online purchases at Amazon, gift cards, merchandise, and to frequent flyer and hotel programs. You can also earn the same amount of points for every dollar spent on supplementary cards. Keep in mind that supplementary cards come with their own annual fee. But this is a small price to pay considering you’ll rack up your points on the primary account. Unlike other cards, the Platinum Business card is a charge card. This means that you’ll need to pay your balance off in full each month. Late fees are subject to a 30% interest fee.

Here are some of the business services that come with the Business Platinum Card Amex сard:

Cash flow management with 55 interest free days

Business, travel and purchase coverage

Manage expense reports with quarterly and annual expense reports

Online account access to service your business anytime and 24/7 customer service

Flexible purchasing power with no preset spending limits and power that grows as long as your account is in good standing

Business Platinum Card® from American Express Benefits

The Business Platinum Card® from American Express comes with a wide range of benefits that range from entertainment access to hotel programs. One of the things we like best about American Express is that they take great care of their members. Along with getting rewarded for using your card, you’ll enjoy front of the line access, a concierge service, and travel upgrades. Their insurance coverage is nothing to joke about. You’ll be covered no matter what comes your way.

Here are some of the key highlights of the Amex Business Platinum Benefits:

Extensive coverage

American Express excels when it comes to protecting you and your purchases. Their plans include business, travel, and purchase protection insurance.

Here’s a breakdown of each:

Business coverage: the American Express business coverage includes employee card misuse protection. Under the misuse protection plan, your card is covered for unauthorized charges of up to $100,000. You must terminate the supplementary card holder and cancel their account within two days.

Buyers assurance protection plan: this plan doubles the manufacturer's warranty on items you buy with your card. The maximum warranty extends one additional year and cannot extend five years. Items not eligible include jewelry, motorized vehicles, and parts for these vehicles. Approval is needed before repairs can be made. You will be capped at $10,000 per item for a maximum coverage of $25,000 for the year.

Trip cancellation insurance: you are covered for prepaid travel arranges up to $1,500 per insured person when you use your card to book. You’ll get up to $3,000 total for all insured persons if you cancel for covered reasons.

Trip interruption insurance: you will receive up at $1,500 per insured person for a total of $6,000 for all insured people when your trip is interrupted or delayed for a covered reason. You must use your card to book your travels to receive these benefits.

StandbyMD Travel Medical Concierge: this service allows you to look for medical assistance anywhere in the world. They are open 24/7 and can help you find hospitals, urgent care centers, and walk-in clinics.

Travel emergency assistance: this 24/7 telephone service provides referrals to out of town emergency medical facilities, legal referrals, and other travel related information, such as lost luggage or customs. You can call anywhere from in the United States or Canada.

$500,000 travel accident insurance: you’ll be covered for up to $500,000 in case of accidental death or dismemberment. This includes coverage for you, your spouse, and children under the age of 23. It only occurs if you travel by common carrier, such as bus, boat, plane or train, and you charged your tickets to your card.

Car rental theft and damage insurance: your rental car with an MSRP value of up ato $85,000 will be covered for theft and damage when you charge your expenses to your car. You must decline the loss damage waiver provided by the car rental company to be eligible. This will usually save you an additional $23 per day.

Emergency medical insurance: you’ll be covered for emergency medical expenses that occur while you are traveling outside of Canada for the first 15 days of your trip. You’ll receive $5,000,000 per insured person under the age of 65.

Lost and stolen baggage insurance: you’ll be covered for a maximum of $1,000 per trip when your baggage is lost or stolen. You must charge your airline tickets to your Business Platinum Card to be eligible.

Baggage delay insurance: You are eligible for up to $1,000 when your baggage is delayed by at least six hours. This money is to be used to purchase reasonable food and supplies such as clothing and sundry items.

Flight delay insurance: you’ll be eligible for up to $1,000 when your flight is delayed. This money is to be used on hotel expenses, food, and other reasonable purchases made within 48 hours of your flight being delayed. There must not be any other transportation available.

Hotel bulgurary insurance: you’ll receive up to $1,000 to replace the loss of personal items if your hotel is robbed. This is only available if you used your card to book the room.

Purchase coverage: your purchases will automatically be covered against physical damage and theft for up to $1,000 when you use your card to buy them. You must report your items at least 90 days after purchasing them. Your items cannot be covered by any other insurance.

Entertainment benefits

American Express offers several entertainment benefits to its cardholders. You’ll be invited to a number of special events that are exclusive to Platinum card holders. These may include concerts, films, food events, and more. Front of the line access includes tickets to popular events before they go on sale to the public. You’ll be given a special time period to buy these tickets. Seats will only be offered to American Express card holders during this time.

You can also rely on a 24 hour concierge service with personalized services made to fit your needs. Contact the concierge service to make restaurant reservations, purchase show tickets, and send gifts to clients. You can also use them to set up meeting places outside the office, entertain clients, and more.

Travel perks

Exclusive travel perks are one of the best reasons to become an American Express card holder. You’ll enjoy access to premium airport lounge access all over the world. This includes access for you and one travel companion. You’ll also get priority pass so you can relax with a drink before your flight in comfort. This service is available regardless of your cabin class or airline choice.

As an American Express card holder, you’ll have access to The Centurion® Lounge3. This is a lounge exclusively for American Express card holders only. You can two guests can access the lounge before or in between flights. Finally, you’ll enjoy Delta Sky Club®31, which is another lounge that can be accessed before or in between flight connections.

Hotel programs and car rental perks are also available. You’ll get to choose from over 900 properties across the world and enjoy free breakfast for two, check in at noon when available, late check out, and room upgrades when available. You’ll get spa credits, free food and drinks, and in room internet access. With the Hotel Collection from American Express, you’ll get access to 600 hotels and restores in 30 different countries when you book a two-night stay. This includes a $100 hotel credit that can be used on spas, dining, golf, and more.

Here are some more travel perks you’ll earn:

Benefits at Toronto Pearson International Airport, including free valet service at terminals one and three and a 15% discount on parking

Access to the international airline program, including discounts on tickets when applicable

Limousine and car rental services from Hertz, Avis, and Carey

Platinum card travel service available 24/7 anytime you have questions about your travels

Business Platinum Card® from American Express: Pros and Cons

All cards come with a list of good and bad. We’re confident that if you can’t find anything that suits your needs within the American Express lineup, then you won’t be able to find it at all. The only possible downside to the American Express Business Platinum card is the annual fee, but this is tax deductible. There is also an additional fee for supplementary cards of $199 and $50 for Business Gold cards. However, you’ll more than make up for this fee by cashing in on all the perks offered by American Express.

Here is what we like and don’t like about the Business Platinum Card from American Express:

Business Platinum Card® from American Express PROS

  • Earn 1.25 points for every dollar spent on your card
  • 40,000 welcome bonus when you spend $5,000 within three months of membership
  • No cap as to how many points you can earn and they never expire
  • Enjoy up to 55 interest free days
  • Access to airport lounges all over the world
  • Discounts on tickets, parking, valet services, and more
  • Redeem points for future travel expenses, statement credit, dining, Amazon purchases and more
  • Earn 25,000 points for referring a friend for maximum benefits of 225,000 per year
  • Business solutions tools that help you manage your business, such as expense reports, online access to your account, and purchasing power that adjusts as your account grows
  • Extensive business, travel and purchase coverage and insurance policies including $500,000 in travel insurance, employee card misuse protection, and more
  • Entertainment perks that include access to tickets before they go on sale to the public
  • 24/7 concierge service and online access to your account

Business Platinum Card® from American Express CONS

  • There is a steep annual fee of $499 that may turn some possible card holders off. But keep in mind that this fee may be tax deductible. There is also an annual fee of $195 for supplementary card holders. This might seem steep, but you can use supplementary cards to rack up points on your primary account and apply these points toward business expenses or statement credit.
  • The Business Platinum Card from American Express is a charge card. This means that you’ll have to pay your balance in full each month. Late payments are subject to a 30% interest fee. We suggest using this as motivation to pay all your bills on time! You can also use the American Expense expense reports to balance your bills and become better organized so that late fees don’t become a problem.

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Disclaimer

CreditNervana promises to keep our information as accurate and up-to-date as possible. However, you should always consult a financial advisor for specific questions about personal or business finances and investment opportunities, especially if you are looking in your area. Working with a trained professional who is familiar with your case is a safe and guaranteed way to make the best investment decision possible. Please review our terms and conditions before making any decision based on the information we provide. Financial institutions are constantly changing. Because of this, it’s a good idea to cross check the information you read here with any company you are considering working with.

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