The Business Platinum Card from American Express
Overview of The Business Platinum Card®
The Business Platinum Card® from American Express is designed for business owners who seek premium rewards and unparalleled benefits. It provides a suite of features that cater to frequent travelers and those who often make significant business expenditures. With a generous welcome offer, this card sets the stage for earning rewards quickly. Business owners can take advantage of travel perks, premium customer service, and extensive purchase protections, making it a compelling choice for entrepreneurs looking to maximize their spending efficiency.
Key Features and Benefits
The Business Platinum Card® comes with a multitude of benefits that can significantly enhance your business travel and expenditure experience. Here’s a quick breakdown of its key features:
- Welcome Offer: Earn a substantial number of Membership Rewards® points after meeting the spending requirement within the first few months.
- Rewards Structure: Earn 5x points on flights and prepaid hotels booked through AmexTravel.com, and 1.5x points on eligible purchases of $5,000 or more.
- Travel Benefits: Access to over 1,300 airport lounges worldwide through the Global Lounge Collection, complimentary upgrades, and the ability to earn 35% points back on eligible flights booked with points.
- Purchase Protection: Coverage for eligible purchases against theft or damage for up to 90 days, as well as extended warranty and return protection.
- Expense Management Tools: Access to tools that help you track and manage your business expenses efficiently.
Cost and Fees
While the Business Platinum Card® offers a myriad of valuable features, it does come with a significant annual fee. As of 2023, the annual fee is $695. This may seem steep, but for many business owners, the benefits can far outweigh the costs. To further illustrate the value, consider the potential savings and earnings from rewards and travel perks. For example, if a business owner spends $30,000 annually on flights and hotels, they could earn upwards of 150,000 Membership Rewards® points, which can be redeemed for travel, merchandise, or statement credits.
Comparing The Business Platinum Card® with Other Business Cards
When evaluating the Business Platinum Card®, it’s essential to compare it against other business credit cards. Below is a comparison chart that highlights how it stacks up against two popular alternatives: the Chase Ink Business Preferred® Credit Card and the Capital One Spark Miles for Business.
| Feature | The Business Platinum Card® | Chase Ink Business Preferred® | Capital One Spark Miles for Business |
|---|---|---|---|
| Annual Fee | $695 | $95 (waived first year) | $95 (waived first year) |
| Welcome Offer | Up to 100,000 points | 100,000 points | 50,000 miles |
| Rewards Rate on Travel | 5x points | 3x points | 2x miles |
| Airport Lounge Access | Yes | No | No |
| Purchase Protection | Yes | Yes | No |
Travel Perks and Advantages
The travel perks associated with The Business Platinum Card® are among the most impressive in the industry. Cardholders enjoy complimentary access to a wide range of airport lounges, including those within the Centurion Lounge network, which offers a luxurious experience complete with gourmet food and beverages. Additionally, the card provides benefits like complimentary upgrades with select airlines, travel insurance, and no foreign transaction fees, making it a top choice for international business travelers.
Customer Service and Support
American Express is renowned for its customer service, and the Business Platinum Card® is no exception. Cardholders benefit from 24/7 customer support, allowing them to resolve issues or inquire about benefits whenever needed. Furthermore, the concierge service can help manage travel arrangements, making it easier for busy entrepreneurs to focus on their business rather than logistical details. This level of support is a significant advantage for those who travel frequently and require assistance on-the-go.
Conclusion: Is The Business Platinum Card® Right for You?
Ultimately, the Business Platinum Card® from American Express is a premium card that offers a wealth of benefits tailored for business owners who travel frequently and spend significantly. While the annual fee is high, the potential rewards, perks, and extensive support could provide excellent value for many businesses. If your business requires travel and you can leverage the card's benefits effectively, it may be a worthwhile investment. However, it’s essential to assess your business spending habits and travel frequency to determine if this card aligns with your financial needs.