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Card Review: AMEX Business Platinum [Jan. 2022 Update]
In the realm of premium credit cards, American Express (AMEX) certainly shines among competitors such as Citi and Chase, and this is especially true when it comes to business credit cards. If the AMEX Platinum Card is regarded as a pinnacle of personal credit cards, I argue the AMEX Platinum Business Card is at the top of the pyramid for business credit cards (of course, I am not including invite-only credit cards like the AMEX Centurion Card and the AMEX Centurion Business Card). With its high annual fee, the card sure does come with many benefits that will effectively reduce the fee. For a limited time, the deal has gotten even sweeter with a historic high welcome offer.
The AMEX Business Platinum Card comes with a hefty price tag but offers a plethora of benefits that can easily offset the annual fee.
Sign-Up Bonus & Multiplier: Worth $2,500 and More!
The AMEX Platinum Business Card is currently offering a sign-up bonus of 120,000 Membership Rewards (MR) points after spending $15,000 in the first three months of account opening. I personally value MR points at 2 cents per point, valuing this “normal” sign-up bonus at $2,400. However, if you use a referral link or search for the offer using Google’s Incognito Mode, you may be able to find a bonus offer of 150,000 MR points, which is worth up to $3,000. This is the highest offer I’ve seen, and I bet this is the best offer we will see for a while.
If you’d like to apply for the AMEX Platinum Business card, please consider using my referral link. It will continue to help fund my blog operations and help visitors make informed decisions to maximize their rewards. Thank you! Click HERE to access my referral link!
The historic high sign-up bonus can yield amazing return. Photo credit: www.americanexpress.com
The AMEX Platinum Business Card’s multipliers are fairly weak. The card earns 5X MR points on flights and hotels purchased directly on the AMEX travel portal. It also earns 1.5X MR points on all purchases of $5,000 or more, which is capped at 1 million MR points per calendar year. All other purchases earn 1X MR points.
Annual Fee & Benefits
If you thought the multipliers of the card were mediocre, prepare yourself because the annual fee of the card is $695. It is one of the most expensive cards to open, but thankfully, AMEX included valuable benefits to effectively offset the annual fee. Here are the following benefits included in the card membership:
$200 Airline Credit
The $200 airline credit is definitely harder to use since it is only supposed to cover airline incidental fees, which means that you cannot use the credit towards airfare. As of right now, it covers the following fees:
Overweight/oversize baggage fees
Checked baggage fees
Flight change fees
Phone reservation fees
Airport lounge day passes and annual memberships
Pet flight fees
In-flight food and beverages
In-flight entertainment fees (does NOT include wireless internet)
Seat assignment fees
This means cardmembers cannot use it towards upgrades, gift cards, anything mileage-related, and seat upgrades. Also, if you are a cardholder of the AMEX Platinum Card, there is a good chance that you are a frequent flyer, which means most of the items above are likely covered by your airline status. Adding to the already difficult usage, AMEX makes you choose an airline at the beginning of every year from the following airlines:
The airline incidental credit will only trigger when it’s used towards your airline of choice. Cardmembers are only allowed to change the airline in January, and because the airline incidental fee is so difficult to use, it has been the most criticized AMEX credit since issuers like Chase, Citi, and Bank of America utilize travel credits that cover anything travel-related. I personally think AMEX should switch the benefit so it reflects anything travel-related.
However, because of how transactions are coded differently in the backend, there are some loopholes, and you can use the credit towards airline tickets. The easiest one is United, and you can use United Travel Bank, which functions as an online gift card system. However, as of January 24, 2021, United Travel Bank seems to code as “gift certificate”, which means the airline incidental credit will not trigger. Some people reported that inexpensive flights (less than $100) from Southwest, JetBlue, and Delta trigger the credit but this may not work for everyone. Lastly, when a Delta flight is partially purchased with a Delta gift card, the transactional coding changes to “additional collections”, triggering the credit.
Cheap JetBlue fares may trigger the airline credit but brace for impact in case it doesn’t code as you hoped.
Be aware that rules change constantly and AMEX has the right to claw back your points or shut down your account if you were to defy their terms and conditions. I strongly advise that you do the research before using the airline credit alternatively.
$400 Dell Credit
Since this is a business credit card after all, cardholders receive $400 Dell credits instead of the usual airline credit you’d get with the personal Platinum Card. The $400 Dell credit can be used towards any purchases with Dell Technologies, and the credit is broken into two folds. You can get up to $200 in statement credits between January and June and the remaining $200 between July and December. Because of the global pandemic, I’ve been working from home, and Dell sells abundant tech equipment and supplies that you may find helpful for your home office setting. Be aware that products may not reflect the best available price points, but if you talk to a representative, they may be able to price match. Lastly, make sure to enroll in the benefit to use the credit.
I recently used my Dell credit towards a mobile speakerphone for my work-from-home setting.
$360 Indeed Credit
If you are looking to hire talented people or need to purchase recruiting products from Indeed, the AMEX Business Platinum card gives you up to $90 per quarter, totaling $360 per year. If you do not use all $90 each quarter, the benefit does not carry over and any unused amount will be forfeited. Be aware that enrollment is required for you to enjoy this benefit.
$150 Adobe Creative Solutions Credit
I used Adobe Lightroom for my photo editing, and with the AMEX Business Platinum card, you can set up to $150 each year towards select Adobe purchases for teams, which include Adobe Creative Cloud and Acrobat Pro DC. This may not be the most useful perk for some business owners, but anyone in the creative industry would welcome this bonus. Note that the $150 Adobe Creative Solution credit is only valid for annual prepaid plans for teams; this means monthly subscriptions do not trigger the credit, and only business plans for teams count towards the benefit. Also, alike the Indeed credit, you need to enroll in the benefit to take advantage of it.
Adobe Photoshop Lightroom is a great creative tool for photo editing.
$120 Wireless Credit & Cell Phone Protection
If you were to pay for purchases made from any U.S. wireless telephone provider with your AMEX Business Platinum card, you can get up to $10 per month, totaling $120 for a year. This may be great for those who don’t have other credit cards offering cell phone protection because the AMEX Business Platinum card comes with decent cell phone protection. As long as you pay the bill with your AMEX Business Platinum card, you can get up to $1,600 in cell phone protection against theft and damage, including cosmetic damage. You are limited to up to two claims per year, and each claim costs a $50 deductible and cannot exceed $800. Again, enrollment is required to trigger the monthly credit.
Save money and stay protected with the AMEX Business Platinum card’s wireless credit and cell phone protection perks!
$179 CLEAR Credit
CLEAR is a biometric screening membership that scans and stores your irises and fingerprints to dramatically reduce the time you spend waiting in airports, sports stadiums, and event venues. With CLEAR membership, travelers can bypass all TSA Pre passengers and CLEAR personnel will escort you straight to a TSA agent. Today, CLEAR is available in 34 airports and 31 stadiums across 21 states, as well as Washington D.C.
CLEAR can significantly speed up security check-ins at airports and event venues. Photo credit: www.clearme.com
As a Platinum cardholder, you can get up to $179 back per calendar year on your CLEAR membership. CLEAR’s default annual rate is $179, but with frequent promotions, this can be lowered to $149. Additionally, Delta and United members receive substantial discounts: Delta Diamond Medallion members receive complimentary membership, while Platinum, Gold, and Silver Medallion members, as well as cardholders of AMEX Delta co-branded cards, pay $109 a year. General SkyMiles members pay $119. The same rules generally apply to United members: United 1k members receive complimentary membership, while Platinum, Gold, and Silver members and cardholders of Chase United co-branded cards pay $109. General United MileagePlus members pay $119 annually. Plus, CLEAR offers a family plan which enables the primary account holder to add up to three adults for only $50. Therefore, if you have a frequent flyer status with either Delta or United, you can possibly squeeze your entire family into the membership at no additional cost.
35% Airline Bonus
One of the most distinct benefits of the AMEX Platinum Business Card is that those who book a flight on the AMEX Travel Portal using MR points can get a 35% rebate. The flight has to be a business class or a first-class flight, but if you wish to get your MR points back on economy flights, the carrier has to be your airline of choice - the same airline you chose for the $200 airline credit. The rebate can be earned up to 500,000 MR points per calendar year. Though the rebate rate is less than the AMEX Centurion Business Card’s rate of 50%, it is still a noteworthy benefit that can save you tons of valuable MR points. Just make sure to compare prices to see if using MR points to book flights is worth it so that you can maximize the redemption rate.
With the 35% rebate, you can further stretch your hard-earned MR points. Photo credit: www.americanexpress.com
Centurion Lounge Access & Priority Pass Membership
The Centurion Lounge is one of the main reasons why I hold the AMEX Platinum Business Card. There are a few international ones, but in the U.S. there are thirteen Centurion Lounges currently available. Additional lounges will open at Denver International Airport and LaGuardia International Airport in the near future. Centurion Lounges are known for amazing food from award-winning chefs, delicious top-shelf cocktails, and complimentary massages.
I enjoyed a great breakfast at the Centurion Lounge in London Heathrow (LHR).
As with almost all premium travel cards, the AMEX Platinum Card provides Priority Pass Lounge access. This means you can visit more than 1,200 airport Priority Pass lounges around the world. Priority Pass lounges offer basic food and beverages and are especially useful for travelers hoping to enjoy a few drinks before their flights.
Would you like to pay the annual fee for the Prestige level Priority Pass membership or get the AMEX Platinum Business Card? The answer is pretty clear. Photo credit: www.prioritypass.com
By holding the AMEX Platinum Business Card, you can gain access to other lounges such as Airspace lounges, Plaza Premium lounges, and Escape lounges.
Delta Sky Club Access When Flying Delta
On same-day Delta flights, Platinum, cardholders can visit Delta Sky Clubs for free. If you want to pay to visit, you can purchase an annual membership for $545 or 54,500 SkyMiles. If you were to hold the Platinum Card though, you can bring in a guest for a daily rate of $39. I don’t think a Delta Sky Club is worth $39 but if you like to drink and avoid crowded terminals, it may be worth it for you.
If you are a Delta loyalist, the Platinum Business Card can save you money and make your travel experience more enjoyable.
Hilton Honors Gold Status & Marriott Bonvoy Gold Elite Status
Hilton Honors Gold status opens a door to great benefits. I think the best perk is free breakfast. Even though the complimentary breakfast is only a continental breakfast when you stay for a couple of nights, charges can add up rather quickly. Hilton Honors Gold members receive an 80% point bonus, two complimentary water bottles per stay, and welcome bonus points or other welcome amenities.
Getting free breakfast every morning can add up pretty fast, especially if you are traveling with your friend or family members.
Marriott Gold Elite status is not as valuable as the Gold status from Hilton, but Gold Elite members can still benefit from receiving enhanced internet access, 2 pm late checkout when available, a 25% point bonus, a welcome gift at check-in, and enhanced room upgraded based on availability. Note that the enhanced room upgrade does not include suite upgrades.
Fine Hotels & Resorts Benefits
Cardmembers can also have access to AMEX’s Fine Hotels & Resorts (FHR) portal. FHR lives within the AMEX Travel portal, and it features major hotel brands like Hyatt and Marriott as well as small independent properties. Though FHR does not guarantee the cheapest rate, booking through AMEX’s FHR grants you lucrative perks such as:
Room upgrade upon arrival when available
Daily breakfast for two people
Guaranteed 4 pm late checkout
Noon check-in when available
$100 hotel credit such as a spa or food and beverage credit
Complimentary Wi-Fi
Want to stay at Amangiri in Utah? Use the FHR portal and make your stay even more luxurious. Photo credit: www.amextravel.com
The most notable caveat of using the FHR portal is that you may not earn elite status or loyalty benefits. I’ve had mixed experiences where one of the stays counted toward elite nights and some didn’t. However, you’d earn 5X MR points on the stay booked through the FHR portal, and that may even out the lost opportunity cost.
Reimbursed Global Entry or TSA PreCheck Application Fees
Cardmembers can get up to $100 in statement credit when the AMEX Platinum Card is used to pay for the application. I would highly suggest using this benefit for a Global Entry application since it includes TSA PreCheck. Global Entry can save you hours of waiting time in line over a year if you travel often internationally. You can use this credit every 4 years and apply it towards a friend or family member if your own Global Entry membership is covered by another card.
Get either Global Entry or TSA PreCheck and stop wasting time in line.
Summary
The AMEX Platinum Business Card is one of the most expensive business credit cards available on the market right now. Along with its high annual fee of $695, the card comes with an incredible sign-up bonus of 120,000 MR points and you may be able to land a sign-up bonus of 150,000 when using an Incognito browser. On top of that, the card has abundant benefits that will allow you to travel more seamlessly by granting you Hilton and Marriott statuses and lower the cost of travel by awarding you with the $200 airline credit and a CLEAR membership. For your business needs, you will receive credits towards Dell, Indeed, Adobe Creative Solution, and wireless bills. The card’s multipliers are weak, but with the historic high sign-up bonus and lucrative perks, the AMEX Platinum Business Card should be on the top of your list.
If you’d like to apply for the AMEX Platinum Business card, please consider using my referral link. It will continue to help fund my blog operations and help visitors make informed decisions to maximize their rewards. Thank you! Click HERE to access my referral link!
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