Is it still worth it?

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Is Amex Business Platinum Worth It?

The American Express Business Platinum Card® is packed with benefits for its cardholders. With travel benefits including incredible access to airport lounges, travel insurance, great concierge services, and expense credits for your business, there is an almost endless list of ways to extract value from. the map.

However, some may argue that the Amex Business Platinum is only worth the first year to score the big welcome bonus. Although the bonus is lucrative, your business may benefit from holding the card for a longer period.

Here is a list of the benefits you will enjoy during your first year of membership with the card:

Amex Business Platinum Benefits

Benefit from Potential value Benefit details Is this a new advantage?
Welcome Offer: Earn 120,000 Membership Rewards points after spending $ 15,000 on purchases with your new card during your first three months of card membership. $ 2,700 (Points are valued at 2 cents per point. This assumes you earn the full welcome bonus plus an additional 15,000 points when you charge $ 6,000 in order to meet the spend requirement, assuming a rate of gain of 1 point per dollar) As you spend with the Card, you’ll earn the following: 5X per $ 1 on prepaid flights and hotels booked with Amex Travel; 1.5X per $ 1 on commercial categories and purchases over $ 5,000 (up to $ 2 million per year); 1x per $ 1 on other purchases No, however, this welcome offer is high.
$ 400 Dell Technologies Spend Credit $ 400 Get $ 200 semi-annually for purchases made with Dell No, however, this benefit was only $ 200 per year before the most recent update.
$ 360 of Indeed Spend Credit $ 360 Get $ 90 per quarter to spend on recruiting fees through Indeed.com Yes
$ 150 Adobe credit $ 150 Get $ 150 per year for Adobe purchases such as Adobe Creative Cloud Yes
$ 120 Wireless Phone Service Credit $ 120 Get $ 10 per month for wireless cell phone service Yes
Access to the airport lounge Variable You will have access to the American Express Global Lounge Collection, which includes: Priority Pass membership, Delta Sky Club access and Centurion lounges. No
$ 200 Airfare Credit $ 200 You will receive $ 200 per year for incidental airline charges such as checked baggage fees. No
Cell Phone Protection Varied When you put your cell phone bill on Amex Business Platinum, your phone will be covered for up to $ 800 per claim (a $ 50 deductible will apply). Yes
$ 100 TSA PreCheck / Global Entry credit $ 100 You will receive up to $ 100 every 4 years after your request for Global Entry or TSA PreCheck. No
$ 179 credit DELETE $ 100 * You will receive up to $ 179 per year in credit on your statement to request CLEAR, a biometric security program located at airports and stadiums across the United States. . Yes
Free Hilton Honors Gold Status Variable You’ll receive complimentary Gold status benefits when you book directly at Hilton properties. Gold status includes: daily food / drink credit, upgrades when available, fifth night free when using points, and free Wi-Fi. No
Free Marriott Bonvoy Gold Elite Status Variable You will receive the free benefits of Gold Elite status when you book directly at Marriott properties. Gold status includes: upgrades when available, late check-out, and improved Wi-Fi. No

With over $ 4,100 in value in the first year, it’s easy to justify the annual fee. After the first year you will no longer be able to count the welcome bonus, the perks could be worth $ 1,430. And none of those numbers capture the value of robust airport lounge access and the hotel’s elite status with Marriott and Hilton.

However, many of the above values ​​are estimates. And with several spending credits like Indeed, Adobe, and Dell, you have to ask yourself if you can take advantage of these benefits without forcing yourself to spend more than you normally would. Are these services already in use or have you just signed up because you can get a discount with a credit card?

Plus, it’s worth considering how much you’ll actually be using the airport lounge and the benefits of the hotel’s elite status. These are extremely valuable perks, as a single airport lounge membership can easily cost hundreds of dollars, but if you don’t travel regularly the perks may not be worth as much for you. The same applies to the hotel’s elite status – if you’re not using it, it’s probably not worth much.

With so many perks and features available, the best way to determine if the Amex Business Platinum fits into your wallet is to list each perk (possibly with an associated dollar value) and ask yourself which ones you will use in a way. realistic.

Keep in mind that you can still get the current annual fee of $ 595, as long as your application is received by January 13, 2022. However, when your second year of membership with the card arrives, you will need to pay $ 695. $.

Alternatives to Amex Business Platinum

If you’re not sure whether the Amex Business Platinum card is worth it for you, there are dozens of other options available. You can consider another American Express credit card or another travel credit card with a lower annual fee.

If you prefer to have a business credit card to separate your business and personal expenses, consider the American Express® Business Gold card. With this card, you will still earn Membership Rewards points, but with an annual fee of $ 295 (see rates and fees). It currently offers a welcome bonus where you can earn 70,000 Membership Rewards points after spending $ 10,000 on qualifying purchases during the first three months of card membership. When you spend with the Amex Business Gold card, you’ll earn 4x more points per dollar spent (up to $ 150,000 per calendar year) in two of the following categories where you spend the most each billing cycle:

  • Purchase of airline tickets directly from airlines

And purchases in the United States on:

  • Online, television and radio advertising
  • Computer hardware, software and cloud systems from selected technology providers
  • Petrol stations
  • Restaurants, including take-out and delivery
  • Shipping

If you don’t mind having a consumer credit card for your business purchases, consider the Chase Sapphire Reserve®. It’s a premium travel credit card with perks including: $ 300 travel credit, airport lounge membership, and DoorDash credits. It also offers great expense categories, including the ability to earn 3X on all travel and dining expenses. However, it has an annual fee of $ 550.

If you prefer a lower annual fee without giving up the opportunity to earn valuable rewards, consider the Chase Sapphire Preferred® card or the American Express® Gold card.

Sapphire Preferred currently has a welcome bonus of 60,000 points that you will earn after spending $ 4,000 in the first three months of card membership. These points are worth $ 750 for travel when booking through Chase. The card has a modest annual fee of $ 95.

The Amex Gold Card is a great credit card for dining out and shopping for groceries. He earns 4X points for every dollar spent on restaurants, including restaurants, take-out and delivery and 4x points for every dollar spent in US supermarkets up to $ 25,000 (then 1x point). It also offers monthly credits for Uber and restaurants, which offsets the annual fee of $ 250 (see rates and fees).

At the end of the line

When you evaluate the Amex Business Platinum card, it is important to remember that a large part of the value of the card depends on your use of the benefits. But it should never be about spending the money and doing everything possible to reap the benefits. This is equivalent to spending $ 1 to save 25 cents. Carefully evaluate each benefit to see how it can benefit you and your business, and from there, decide if the card is right for you.

Remember, you still have time to take advantage of the annual fee of $ 595 for the first year of membership, provided your request is received by January 13, 2022.

That being said, even with the increase in annual fees, the Amex Business Platinum remains a great credit card for small business owners who travel. The long list of perks, spending credits, and convenient services could be worth thousands of dollars, if you can use them.

The American Express Business Platinum Card®

On the secure American Express site

  • Awards

    Earn 5 times more Membership Rewards® points on prepaid flights and hotels on amextravel.com

  • Welcome bonus

    Earn 120,000 Membership Rewards® points after spending $ 15,000 on qualifying purchases in the first 3 months of card membership

  • Annual subscription

    $ 595 (10/1/2021 to 1/12/2022)

  • Intro APR

  • Regular APR

  • Balance transfer fees

  • Foreign transaction fees

  • Credit needed

Advantages

  • Sign up to receive up to $ 400 in annual statement credits on Dell purchases (up to $ 200 semi-annually), up to $ 360 with Indeed, up to $ 150 with Adobe, and up to $ 120 on wireless phone purchases
  • Get 35% points back when you use points to purchase all or part of a plane ticket, up to 500,000 bonus points per calendar year
  • American Express International Lounge Collection
  • Gain security with CLEAR® where it’s available and get up to $ 179 per year on your subscription when you use your card
  • Up to $ 200 in statement credits per calendar year for baggage charges and more with an eligible airline

The inconvenients

  • Annual fee of $ 595 ($ 695 if application is received 1/13/2022 or after)
  • No 0% introductory finance offer for balance transfers

For pricing and fees for the American Express Platinum Card®, click here.

For pricing and fees for the American Express Business Platinum Card®, click here.

To find out the rates and fees for the American Express® Business Gold card, click on here.

To find out the rates and fees for the American Express® Gold card, click on here.

Editorial note: Any opinions, analysis, criticism or recommendations expressed in this article are the sole responsibility of the editorial staff of Select and have not been reviewed, endorsed or otherwise approved by any third party.


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