In business, travel is often an indispensable part of the game. As businesses continually evolve and look for ways to maximize their efficiency and value, selecting the right business credit card becomes a critical decision. One card that continually stands out as a go-to for frequent business travelers is the Business Platinum Card® from American Express. However, the hefty $695 annual fee (terms apply, see rates & fees) leaves some contemplating its value.

Welcome Bonus and Reward System

The American Express Business Platinum card welcomes new members with an impressive bonus: 120,000 Membership Rewards® points, available after spending $15,000 on qualifying purchases within the initial three months. Despite the high spending prerequisite, it is achievable for those covering all their business expenses with the card.

Apart from the welcome bonus, the card also offers an attractive reward structure. The card provides 5 Membership Rewards® points per dollar spent on flights and prepaid hotels booked through American Express Travel, 1.5 points per dollar spent on selected U.S. suppliers and large purchases, and 1 point per dollar on other eligible expenses. If frequent bookings through the Amex portal form part of your regular business operations, you stand a chance of accumulating a substantial amount of points. Moreover, if used to book flights through the portal, a 35% points rebate applies, up to a maximum of 1 million points per year.

Airport Lounge Access

American Express Business Platinum cardholders enjoy complimentary access to an extensive network of over 1,400 airport lounges through The American Express Global Lounge Collection. This includes The Centurion Lounge, The International American Express Lounges, Priority Pass lounges (enrolment required), Delta Sky Club, Plaza Premium, Escape Lounges, and Airspace. Individually, memberships for these lounges can range from $99 to $469 or even $695 annually for the Delta Sky Club.

Practical Credits for Travel and Business Expenses

Travel becomes smoother and more efficient with the various credits provided to the Amex Business Platinum cardholders. These include up to $200 annual airline incidental credit for a selected airline, up to $189 CLEAR® Plus credit, and credit for TSA Precheck or Global Entry fees.

In addition to travel-related credits, the card also bestows several credits for business services that can help mitigate the cost of operating a business. These include up to $400 Dell credit, up to $360 Indeed credit, up to $150 Adobe credit, and up to $120 wireless credit for telephone service purchases from U.S. providers. However, enrolment is required to avail of these benefits.

Elite Status and Luxurious Stays

This American express business platinum benefits 2023 card not only provides points but also offers its members elite status with Marriott Bonvoy and Hilton Honors. After enrolling, cardholders receive benefits such as late checkout, room upgrades, and bonus points from these hotel loyalty programs.

Furthermore, booking with a Fine Hotels & Resorts property through Amex Travel using the Business Platinum Card opens up a world of benefits like complimentary breakfast for two, late checkout, early check-in, and up to $100 credit for food, drinks, or spa visits at over 2,000 participating hotels and resorts.

Rental Car Upgrades

Driving around becomes a breeze as the card offers premium status in popular car rental programs such as Hertz, Avis, and National Car Rental, offering free upgrades and priority access when available.

Comprehensive Insurance

Travel protections offered by the Amex Business Platinum card bring added peace of mind when you’re on the move. These protections include trip cancellation and interruption insurance, trip delay insurance, and lost or damaged baggage coverage.

Protection Beyond Travel

The card also provides additional protective features, such as cell phone protection, offering up to $800 for covered incidents and purchase protection, which gives up to $10,000 worth of coverage for eligible purchases within 90 days of your purchase date. Extended warranty protection is also part of the package.

Flexible Point Transfers

One of the defining attributes of the Amex Business Platinum is its flexibility in transferring Membership Rewards points to multiple partners, including 17 airlines and three hotel programs, typically at a 1:1 ratio. Some partners, such as AeroMexico and Hilton Honors might offer an even more favourable conversion rate.

Is the Amex Business Platinum Worth It?

Weighing the benefits against the $695 annual fee can be tricky. Frequent travelers who are able to fully utilize the benefits can easily offset the fee, especially considering the high earnings rate for Amex travel purchases, the complimentary lounge access, and the generous credits.

For businesses with less travel frequency, a more economical choice could be the American Express® Business Gold Card. Despite a lower annual fee—$295—it still offers an attractive welcome bonus and rewards rate, and it provides features like a baggage insurance plan and trip delay coverage.

Optimizing the Amex Business Platinum Benefits

To truly get the rewards of the Amex Business Platinum, you'll need to take full advantage of the features it offers. Ensure you can meet the initial spending requirement to qualify for the welcome bonus and consider your business travel frequency. Regular travelers will find the card exceptionally valuable due to its suite of travel credits, premium statuses, and insurance protections.

Remember to make your travel bookings through Amex Travel to maximize points earned, and consider transferring points to one of the many partner programs to capitalize on potential deals.