American Express Business Platinum Card® Review for 2023

The American Express Business Platinum Card® is designed for business owners who travel frequently. Cardholders can enjoy luxury travel perks, including access to more than 1,400 airport lounges worldwide. The perks and rewards it offers justify the high annual fee of $695. While it requires you to pay your balance in full every month, it offers a Pay Over Time feature to eligible account holders.

If you wish to compare one card over another, choose a maximum of three cards on this page and click Add to compare to view the details in a side-by-side comparison.

The Business Platinum Card® from American Express

?Fit Small Business’s ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card’s rates, fees, rewards, and additional features like insurance.

Gaining access to unrivaled travel rewards and luxury travel perks like airport lounge access

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on The Business Platinum Card® from American Express’s secure website.

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Regular APR

17.99% – 25.99% Variable

Credit Needed

Good, Excellent

• Welcome Offer: Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
• Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com, and 1X points for each dollar you spend on eligible purchases.
• Earn 1.5X points (that’s an extra half point per dollar) on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
• Unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
• $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year for checked baggage fees, lounge day passes, and more at one selected airline.
• $189 CLEAR® Credit: Use your Card and get up to $189 back per year on your CLEAR® membership. CLEAR® is available at more than 50 U.S. airports and stadiums.
• The American Express Global Lounge Collection® can provide an escape at the airport. With more than 1,400 airport lounges across 140 countries and counting, you have more lounge location options than any other credit card on the market as of 9/2021.
• $695 Annual Fee.
• Terms Apply.

Pros

• Premium travel rewards
• Free access to more than 1,300 airport lounges worldwide
• No foreign transaction fees

Cons

• Balance is due in full monthly
• High annual fee

• American Express lounges: Free access to American Express’ network of Centurion lounges located in slightly less than a dozen United States airports.
• Other airport lounges: Priority Pass Select membership, which gets you free access to more than 1,300 lounges worldwide for you and two guests.
• Airport screening: Either a $100 statement credit for Global Entry every four years or $85 statement credit for TSA PreCheck® once every 4 1/2 years.
• Travel credit: Up to $200 annual statement credit toward air travel expenses like baggage fees and inflight food and drink.
• Rental status: Elite status at a number of car rental agencies.
• Free Wi-Fi: 10 annual free Gogo inflight Wi-Fi passes.
• Rebate for redeemed points: 35% points rebate if you book a business or first-class flight, up to 500,000 bonus points per calendar year.
• Dell statement credit: Up to $400 in statement credits annually for Dell purchases.

Regular APR

17.99% – 25.99% Variable

Credit Needed

Good, Excellent

• Welcome Offer: Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
• Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com, and 1X points for each dollar you spend on eligible purchases.
• Earn 1.5X points (that’s an extra half point per dollar) on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
• Unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
• $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year for checked baggage fees, lounge day passes, and more at one selected airline.
• $189 CLEAR® Credit: Use your Card and get up to $189 back per year on your CLEAR® membership. CLEAR® is available at more than 50 U.S. airports and stadiums.
• The American Express Global Lounge Collection® can provide an escape at the airport. With more than 1,400 airport lounges across 140 countries and counting, you have more lounge location options than any other credit card on the market as of 9/2021.
• $695 Annual Fee.
• Terms Apply.

Pros

• Premium travel rewards
• Free access to more than 1,300 airport lounges worldwide
• No foreign transaction fees

Cons

• Balance is due in full monthly
• High annual fee

• American Express lounges: Free access to American Express’ network of Centurion lounges located in slightly less than a dozen United States airports.
• Other airport lounges: Priority Pass Select membership, which gets you free access to more than 1,300 lounges worldwide for you and two guests.
• Airport screening: Either a $100 statement credit for Global Entry every four years or $85 statement credit for TSA PreCheck® once every 4 1/2 years.
• Travel credit: Up to $200 annual statement credit toward air travel expenses like baggage fees and inflight food and drink.
• Rental status: Elite status at a number of car rental agencies.
• Free Wi-Fi: 10 annual free Gogo inflight Wi-Fi passes.
• Rebate for redeemed points: 35% points rebate if you book a business or first-class flight, up to 500,000 bonus points per calendar year.
• Dell statement credit: Up to $400 in statement credits annually for Dell purchases.

How We Evaluate Travel Rewards Business Credit Cards

Who the American Express Business Platinum Card® Is Best For

• Business owners who travel frequently: It offers premium rewards points on travel and hotel bookings.
• Business owners who need luxury travel perks: Cardholders receive luxury travel perks like airport lounge access, airline fee credits, and upgraded status for Marriott Bonvoy^TM and Hilton Honors.
• Business owners who can pay their monthly balances in full: This business credit card requires that you pay your balance in full every month—unless you’re eligible for the Pay Over Time feature.

If this card isn’t right for your business, see our recommended alternatives below.

American Express Business Platinum Card® Fees

APR

• Introductory: None
• Ongoing: 17.99% to 25.99% variable, which adjusts based on prime rate
• Penalty: 29.99% variable, which adjusts based on prime rate—will be applied to your account if you do one of the following:
  • Make two or more late payments within a 12-month period
  • Don’t pay the minimum payment due by the closing date of the billing period and still don’t pay it by the closing date of the next billing period
  • Make a returned payment

Fees

• Annual: $695
• Balance transfer: Transfers not allowed
• Foreign transaction: None
• Cash advance: Cash advances not allowed
• Late payment: $39 or 2.99% of any past due pay in full amount, whichever is greater
• Returned payment: $39

How To Make Payments on the American Express® Business Platinum Card

• Direct bank payment: Direct debits let you pay bills automatically, so you don’t have to worry about missing due dates. Provide your bank account details to American Express and let them know the amount you’d like to pay every month.
• AutoPay: You can enroll in AutoPay through your American Express online account. Note that your first AutoPay payment may not be applied to your current billing cycle and would need to make your usual payments until your AutoPay begins.
• Online: You can make a payment through your American Express online account anytime. Simply choose your payment account and select your bank account and payment date. Note that credit cards and debit cards cannot be accepted as a form of payment.
• Mobile app: Download the Amex Mobile App and enjoy the convenience of paying your bills on the go, anytime.
• Mail: You can opt to mail your payment either by check or money order made payable to American Express. Ensure to include your account number at the front of your payment.

First Class Mail
American Express
PO Box 650448
Dallas, TX 75265-0448

Express Mail
American Express
Attn: Express Mail Remittance Processing
20500 Belshaw Ave.
Carson, CA 90746

American Express Business Platinum Card® Rewards

• 120,000 Membership Rewards^® points after you spend $15,000 on eligible purchases within the first three months after opening an account
• 5x Membership Rewards^® points on flights and prepaid hotels on amextravel.com
• 1.5x Membership Rewards^® points per dollar for eligible purchases in key business categories and on every purchase of $5,000 or more everywhere else (on up to $2 million of these purchases per calendar year)
• 1x Membership Rewards^® points on all other purchases
• $200 airline fee credit per calendar year for baggage fees and other eligible incidental expenses with a qualifying airline you choose
• Up to $400 statement credit per year on purchases with Dell, equivalent to up to $200 back semi-annually
• Up to $360 statement credit per year on purchases with Indeed, equivalent to up to $90 per quarter
• Up to $179 statement credit on your Clear membership per year, equivalent to up to $10 per quarter
• Up to $150 statement credit per year for select subscription purchases with Adobe
• Up to $120 statement credit per year for wireless telephone service purchases, equivalent to up to $10 per month

You can redeem your points as a statement credit—you need at least 1,000 points in your account so that you can apply them to pay for charges on your credit card statement. You can also redeem your points for gift cards through amexgiftcard.com, Amazon purchases, and select taxi fares and tips in New York City. You can redeem a minimum of 5,000 points to book travel on American Express Travel and receive 35% of your points back.

American Express Business Platinum Card® Additional Features

Travel

• Global Entry or TSA PreCheck^®: The American Express Business Platinum Card® lets you receive a statement credit every four years after you apply for Global Entry ($100) or every four-and-a-half years after you apply for TSA PreCheck^® ($85).
• Delta Sky Club: You must be at least 18 years old to access a Delta Sky Club and 21 years old to access locations that have a self-service bar. To enter a Delta Sky Club, you must present a valid American Express card, your government ID, and your airline ticket for that day.
• Marriott Bonvoy^TM Gold Elite Status: You can upgrade to Marriott Bonvoy^TM Gold Elite status automatically without meeting any stay requirements.
• Hilton Honors Gold Status: You’ll be an automatic Hilton Honors Gold Status member. Enjoy benefits at hotels and resorts within the Hilton Portfolio, and earn reward stays with Hilton Honors Bonus Points.

Expense Management

• Account management tools: Account management tools—such as mobile device apps, desktop programs, and QuickBooks integration—are available to enhance your cash flow operations and let you manage your cards from your desktop and mobile devices. Employees can also upload photos of their receipts to make for easier expense reporting.
• Year-end summary: American Express offers online year-end summaries, listing all of your purchases made from January 1 to December 31 of the prior year.

Insurance Protection

• Purchase protection: This is eligible for purchased items that are damaged or stolen within 90 days from the date of the Covered Purchase. American Express will reimburse the amount charged to your card, up to $10,000 per claim and $50,000 per card member each year.
• Extended warranty protection: The American Express Business Platinum Card® extends the warranty for up to one additional year on items with an original manufacturer’s warranty of five years or less.
• Cellphone protection: This provides reimbursement for the repair or replacement costs of your mobile device following damage or theft for a maximum of $800 per claim, with a limit of two approved claims per 12-month period. To be eligible, your cellphone line should be listed on a wireless bill, and the prior month’s wireless bill should’ve been paid by your American Express credit card. Note that a $50 deductible will apply to each approved claim.

American Express Business Platinum Card® Alternatives

Bank of America® Business Advantage Travel Rewards World Mastercard®

Bank of America® Business Advantage Travel Rewards World Mastercard® credit card

?Fit Small Business’s ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card’s rates, fees, rewards, and additional features like insurance.

Earning top rewards on travel purchases booked through Bank of America

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on Bank of America® Business Advantage Travel Rewards World Mastercard® credit card’s secure website.

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Intro APR

0% for 9 billing cycles

Regular APR

14.49% to 24.49% Variable APR on purchases

• Earn 30,000 bonus points when you make at least $3,000 in net purchases within 90 days of your account opening, which can be redeemed for a $300 statement credit toward travel purchases.
• Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time―no matter how much you spend. Points don’t expire.
• Earn 3 points per every dollar spent on travel purchases like car, hotel, and airline booked through the Bank of America® Travel Center.
• No annual fee and no international transaction fees.
• 0% Introductory APR on purchases for your first nine billing cycles.
• Redeem points for travel with no blackout dates, cash back or gift cards.
• Get 75% more points on the base earn of every purchase you make when you’re a Preferred Rewards for Business Platinum Honors tier member. That means you will earn 2.62 points for every $1 you spend and 4.12 points per every $1 you spend at the Bank of America® Travel Center.

Pros

• No annual fee: By not having to pay an annual fee, you can reduce your overall credit card cost while earning unlimited rewards on your expenses.
• No blackout dates on travel: You can redeem your points for travel or travel credits through the Bank of America® Travel Center anytime, with no blackout dates.
• 3x points on travel: You can earn 3x points for every dollar spent when you book your travel (car, hotel, or airline) through the Bank of America® Travel Center.
• Welcome bonus points: If you can spend $3,000 in net purchases within 90 days of opening an account, you will earn 30,000 bonus points.

Cons

• Low ongoing rewards on nontravel: While you can earn high rewards points on travel, you can only earn 1.5x points on all other purchases.
• Short 0% APR introductory period: The Bank of America Business Advantage Travel Rewards World Mastercard® offers 0% APR for the first nine billing cycles from opening an account—this is a disadvantage if you need a longer 0% APR period.
• No 0% APR on balance transfers: The introductory 0% APR only applies to purchases—if you need to transfer a balance from another credit card, you’ll need to pay an APR ranging from 12.24% to 22.24%.

• Bank of America doesn’t disclose details of its additional card features. To find out more about these additional features, review your guide to benefits when you receive your card in the mail.

Intro APR

0% for 9 billing cycles

Regular APR

14.49% to 24.49% Variable APR on purchases

• Earn 30,000 bonus points when you make at least $3,000 in net purchases within 90 days of your account opening, which can be redeemed for a $300 statement credit toward travel purchases.
• Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time―no matter how much you spend. Points don’t expire.
• Earn 3 points per every dollar spent on travel purchases like car, hotel, and airline booked through the Bank of America® Travel Center.
• No annual fee and no international transaction fees.
• 0% Introductory APR on purchases for your first nine billing cycles.
• Redeem points for travel with no blackout dates, cash back or gift cards.
• Get 75% more points on the base earn of every purchase you make when you’re a Preferred Rewards for Business Platinum Honors tier member. That means you will earn 2.62 points for every $1 you spend and 4.12 points per every $1 you spend at the Bank of America® Travel Center.

Pros

• No annual fee: By not having to pay an annual fee, you can reduce your overall credit card cost while earning unlimited rewards on your expenses.
• No blackout dates on travel: You can redeem your points for travel or travel credits through the Bank of America® Travel Center anytime, with no blackout dates.
• 3x points on travel: You can earn 3x points for every dollar spent when you book your travel (car, hotel, or airline) through the Bank of America® Travel Center.
• Welcome bonus points: If you can spend $3,000 in net purchases within 90 days of opening an account, you will earn 30,000 bonus points.

Cons

• Low ongoing rewards on nontravel: While you can earn high rewards points on travel, you can only earn 1.5x points on all other purchases.
• Short 0% APR introductory period: The Bank of America Business Advantage Travel Rewards World Mastercard® offers 0% APR for the first nine billing cycles from opening an account—this is a disadvantage if you need a longer 0% APR period.
• No 0% APR on balance transfers: The introductory 0% APR only applies to purchases—if you need to transfer a balance from another credit card, you’ll need to pay an APR ranging from 12.24% to 22.24%.

• Bank of America doesn’t disclose details of its additional card features. To find out more about these additional features, review your guide to benefits when you receive your card in the mail.

• Bank of America® Business Advantage Travel Rewards World Mastercard® is great for those wanting to earn bonus points but can’t meet the purchase requirement of the American Express Business Platinum Card®
• Offers 30,000 bonus points when you make at least $3,000 in net purchases within three months of opening an account, which can be redeemed for a $300 statement credit toward travel purchases
• Lets you earn unlimited 1.5x points per dollar spent on all purchases everywhere
• Offers 0% APR for nine billing cycles
• Comes with no annual fee and no foreign transaction fees
• Is one of our best business credit cards for the self-employed

Chase Ink Business Preferred®

Ink Business Preferred® Credit Card

?Fit Small Business’s ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card’s rates, fees, rewards, and additional features like insurance.

Maximizing travel rewards at a lower annual fee

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On Chase’s Secure Website

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Regular APR

19.74% – 24.74% Variable

• Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That’s $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®
• Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
• With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
• With Zero Liability you won’t be held responsible for unauthorized charges made with your card or account information.
• Redeem points for cash back, gift cards, travel and more – your points don’t expire as long as your account is open
• Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
• Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.

Pros

• Reward points are worth 25% more when you redeem for travel through the Chase Ultimate Rewards® card
• Comprehensive travel and purchase protection
• No foreign transaction fees

Cons

• No interst-free financing option on both purchases and balance transfers
• With annual fee
• Need to make extremely large purchases to qualify for the sign-up bonus

• Cellphone protection: Get up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees listed on your monthly cellphone bill
• Purchase protection: Can cover your new purchases for 120 days against damage or theft of up to $10,000 per claim and $50,000 per account
• Extended warranty protection: You can extend the period of the US manufacturer’s warranty by an additional year, on eligible warranties of three years or less.
• Fraud monitoring: Chase will help keep your accounts safe with account alerts – and you can choose how you’d like to receive them
• Free employee cards: You can create employee cards at no additional cost, and lets you set individual spending limits―helping you earn rewards even faster

Regular APR

19.74% – 24.74% Variable

Credit Needed

Good, Excellent

• Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That’s $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®
• Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
• With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
• With Zero Liability you won’t be held responsible for unauthorized charges made with your card or account information.
• Redeem points for cash back, gift cards, travel and more – your points don’t expire as long as your account is open
• Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
• Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.

Pros

• Reward points are worth 25% more when you redeem for travel through the Chase Ultimate Rewards® card
• Comprehensive travel and purchase protection
• No foreign transaction fees

Cons

• No interst-free financing option on both purchases and balance transfers
• With annual fee
• Need to make extremely large purchases to qualify for the sign-up bonus

• Cellphone protection: Get up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees listed on your monthly cellphone bill
• Purchase protection: Can cover your new purchases for 120 days against damage or theft of up to $10,000 per claim and $50,000 per account
• Extended warranty protection: You can extend the period of the US manufacturer’s warranty by an additional year, on eligible warranties of three years or less.
• Fraud monitoring: Chase will help keep your accounts safe with account alerts – and you can choose how you’d like to receive them
• Free employee cards: You can create employee cards at no additional cost, and lets you set individual spending limits―helping you earn rewards even faster

Capital One® Spark® Miles for Business

Capital One® Spark® Miles for Business

?Fit Small Business’s ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card’s rates, fees, rewards, and additional features like insurance.

Unlimited 2x miles with every swipe

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on Capital One® Spark® Miles for Business’s secure website.

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Regular APR

22.49% (Variable)

Annual Fee

$0 intro for first year; $95 after that

Credit Needed

Excellent, Good

• Introductory reward worth $500 in travel after you spend $4,500 within the first three months
• 2x miles per $1 spent
• Issue employee cards for free

Pros

• No foreign transaction fees
• TSA PreCheck® or Global Entry application fee credit

Cons

• You’ll pay an annual fee after the first year
• Doesn’t offer interest-free financing

• Airport security screening reimbursement: Either a $100 statement credit for Global Entry or an $85 statement credit for TSA PreCheck® once every four years.
• Purchase assurance:  Most purchases made entirely with your card are covered if damaged or stolen within 90 days from the date of purchase. Coverage is limited to $10,000 per claim and $50,000 per cardholder account per 12 month period.
• Extended warranty coverage: Doubles the original warranty time period and duplicates the coverage of the original manufacturer’s warranty up to a maximum of 12 months on most items you purchase. 
• Travel medical emergency assistance: Provide referrals to medical services if you have a medical emergency while traveling. You’re covered if you’re 100 or more miles away from home and from the day you leave until midnight of the 60th day of your trip, or the day you return to your city of residence, whichever is sooner.

Regular APR

22.49% (Variable)

Annual Fee

$0 intro for first year; $95 after that

Credit Needed

Excellent, Good

• Introductory reward worth $500 in travel after you spend $4,500 within the first three months
• 2x miles per $1 spent
• Issue employee cards for free

Pros

• No foreign transaction fees
• TSA PreCheck® or Global Entry application fee credit

Cons

• You’ll pay an annual fee after the first year
• Doesn’t offer interest-free financing

• Airport security screening reimbursement: Either a $100 statement credit for Global Entry or an $85 statement credit for TSA PreCheck® once every four years.
• Purchase assurance:  Most purchases made entirely with your card are covered if damaged or stolen within 90 days from the date of purchase. Coverage is limited to $10,000 per claim and $50,000 per cardholder account per 12 month period.
• Extended warranty coverage: Doubles the original warranty time period and duplicates the coverage of the original manufacturer’s warranty up to a maximum of 12 months on most items you purchase. 
• Travel medical emergency assistance: Provide referrals to medical services if you have a medical emergency while traveling. You’re covered if you’re 100 or more miles away from home and from the day you leave until midnight of the 60th day of your trip, or the day you return to your city of residence, whichever is sooner.

Bottom Line

The American Express Business Platinum Card® is optimal for business owners who can pay their balance in full every month. This business credit card offers premium travel rewards and perks ideal for those who travel frequently. It’s important to note that it comes with a high annual fee of $695 and that balance transfers and cash advance transactions aren’t allowed.