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The Business Platinum Card from American Express

in Business Credit Cards

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The Business Platinum Card from American Express

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in Business Credit Cards

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Overview

Who is The Enhanced Business Platinum Card Designed For?

The Enhanced Business Platinum Card from American Express® is a charge card designed for frequent international travelers with excellent credit who generally fly in business or first class and value luxury perks when traveling. This is also an iconic status symbol: the card equivalent of driving a Bentley, signing with a Montblanc fountain pen or casually checking the time on your Rolex.

The annual fee is expensive and hard to justify unless you are big spender and a frequent flyer. However, it more than pays for itself if you take advantage of the travel benefits included.

What are the Rates?

The Enhanced Business Platinum Card from AMEX is a charge card, so it doesn't have an APR attached to it. The balance on the account is payable in full when the statement is received. Members cannot roll over the balance from one billing cycle to the next. If you are late in paying the full balance of a statement, there are expensive penalty fees to consider.

What Are the Fees?

The Enhanced Business Platinum Card has a $450 annual fee: one of the most expensive annual fees in its class. There are no foreign transaction fees, which you would expect from a travel card with such a large annual fee.

It does have a late payment fee of $38 or 2.99% of any past due balance on your statement. This is a straight 2.99% charge, not an APR. Using this card to finance your business past the due date of a statement would be a particularly expensive form of credit. Remember this is a charge card not a credit card. It's not designed for users who plan to keep a balance.

What Is the Rewards Program Like?

The American Express® rewards program is flexible and easy to use. There are no expiration dates or spending limits and you can transfer points to many airline and hotel programs. The program offers 5 points for every dollar spent on the American Express® Travel website, 1.5 points for every dollar on eligible purchases of $5,000 or more, and 1 point for each dollar spent on all other purchases. There is also a bonus on travel expenses paid with points, which means you can get 35 percent of the points back on eligible airfare purchases.

What about the Signup Bonus?

The Enhanced Business Platinum Card comes with a signup bonus of 50,000 points for customers who spend $10,000 and an extra 25,000 points if a customer spends an additional $10,000 on the card within the first three months. The signup bonus has a value of over $750, which more than pays for the first year's annual fee. This is a great perk for people who are not sure whether they will use the card's benefits enough to justify its high annual fee and just want to try it out for a year.

Any Other Benefits?

Where to start. As well as the huge signup bonus, the Business Platinum also gives cardholders $200 in airline fee credit. Fancy an overpriced bottle of wine on your next flight, or you need to check an additional suitcase? No problem, AMEX will cover airline fees up to $200. The only catch is you have to choose a single airline from which to redeem your fee credit.

American Express® also gives members a $100 credit toward Global Entry or TSA pass, which can help reduce waiting time at US Customs.

As well as fee credits, the card also includes complimentary airport lounge access to a total of 1,000 domestic and international airport lounges, such as the Centurion Lounges, Delta Sky Clubs and Airspace Lounges. It also includes a comprehensive concierge service and travel insurance.

Going on a business trip and want to bring your spouse or a friend? This card includes a handy discount for a companion every time you buy a business or first class ticket. You also get to bypass lines, skip paperwork and qualify for free upgrades when renting a car with Hertz, Avis or National Car Rental or staying at a hotel in the Starwood Preferred Guest program.

How Is It Better Than Other Credit Cards?

The Enhanced Business Platinum Card from American Express® has one of the best travel benefits program around. It has a large signup bonus that more than pays for the first annual fee. However, the rewards program could be better. This doesn't mean it's not a good deal. If you travel abroad regularly and you like to do it in style, this card can provide huge savings. However, if you own a business and you're a big spender but don't enjoy traveling or care about luxury perks, there are better business charge cards to choose from.

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Feature Breakdown

Foreign Currency Transaction Fee
0%
No Foreign Transaction Fee
Annual Fee
$450
Late Payment Penalty
$38
Returned Payment Fee
$38
Credit Score Range
680 - 850
850 300 680
Minimum Age
18
Customer Type
Business
Card Type
  • Rewards
Card Network
  • American Express
Extended Warranty
Car Rental Insurance
Fraud Liability
Travel Insurance
Flight Insurance
Lost Luggage Insurance
Rewards Categories
  • Airfare
  • Car Rentals
  • Every Purchase
  • Hotels
  • Restaurants
  • Trains, Cruises, Other Travel
Every Purchase
1x
Bonus Rewards
5x

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American Express Bank Business Credit Cards

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Reviews

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1
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1
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2 total votes
Purchases APR 12.24% - 20.24% 10% 25%
Balance Transfer APR 12.24% - 20.24% 10% 22%
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Credit Score Range 700 - 850 600 850
Corporate Gold Card

Corporate Gold Card

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Purchases APR N/A Purchases APR
Balance Transfer APR N/A Balance Transfer APR
Annual Fee $125 Annual Fee
Credit Score Range N/A Credit Score Range
Gold Delta SkyMiles Business Credit Card
Purchases APR 16.24% - 20.24% 10% 25%
Balance Transfer APR N/A Balance Transfer APR
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Credit Score Range 640 - 850 600 850
Starwood Preferred Guest Business Credit Card

Starwood Preferred Guest Business Credit Card

 
 
1
1 total votes
Purchases APR 16.24% - 20.24% 10% 25%
Balance Transfer APR N/A Balance Transfer APR
Annual Fee $95 Annual Fee
Credit Score Range 680 - 850 600 850
The Business Gold Rewards Card

The Business Gold Rewards Card

 
1
 
1 total votes
Purchases APR N/A Purchases APR
Balance Transfer APR N/A Balance Transfer APR
Annual Fee $175 Annual Fee
Credit Score Range 680 - 850 600 850
Business Green Rewards Card

Business Green Rewards Card

 
1
 
1 total votes
Purchases APR N/A Purchases APR
Balance Transfer APR N/A Balance Transfer APR
Annual Fee $95 Annual Fee
Credit Score Range 680 - 850 600 850