American Express Platinum Business Credit Card

The Platinum Business card from American Express is highly coveted amongst medium to large-sized business owners due to the extensive rewards and high end perks it gives cardholders. To find out if this card is a good fit for your business, read on for our independent review.

Benefit of the Card’s Best Features?

There are so many benefits to the American Express Platinum Business card that you will constantly be surprised by the many perks such as automatic discounts, generous rewards, instant upgrades, free covers, travel luxuries, event planning, and your personal concierge – to name just a few.

Perhaps the most beneficial feature of this card is the rewards program, allowing you to turn what was just a business expense into a reward. For each $1 spent with your card, you earn 1.5 points up to $250,000 yearly. From then on you earn 1 point for each $1. You have the opportunity to earn up to 10 points per $1 on certain purchases. All supplementary cards can earn points and points are not capped and never expire. As part of the free Ascent Premium program, you can redeem points for flights (no blackout dates), gift certificates, shopping, or even for paying off your balance.

This card also packs a lot of useful travel benefits, which is going to make your business trips more pleasurable. The Platinum Business Concierge will take care of your travel needs, even making reservations or recommending restaurants. Your concierge is available 24/7 for helping you with any travel arrangements. While travelling, you get VIP treatment with instant upgrades, spa treatments, special discount rates, and access to exclusive airport lounges. At Starwood hotels and resorts, you will get preferential treatment like late check out – pretty handy if you’ve had a late night after a meeting or conference.

It is easy to take care of important clients thanks to the Amex Platinum Business card. You get access to in-demand events with exclusive ticket offers and discounts and the concierge will even make reservations for you, often getting tickets before they are available to the general public.

The amount of insurance cover you get is well worth the $1,200 p.a. annual fee. You are covered for monthly expenses in case you are unable to run your business temporarily. The travel insurance covers medical expenses, emergencies, vehicle rentals, inconveniences and much more. The purchase and refund protection is also generous on select items purchased with your card.

Like with all Amex business cards, you will get access to a range of business tools to make accounting easier. Statements will appear with GST itemisation, statements downloadable into accounting programs, and instant alerts free of charge.

The list of perks doesn’t stop there. You can have up to 99 supplementary cards free of charge. As the primary cardholder, you have power to put restrictions on these cards. Customer service is available 24/7 to help you with any issue. There is no pre-set spending limit with the American Express Platinum Business card so you can make necessary purchases as your business grows.

Are There Any Drawbacks?

This is a charge card, so you must pay your bill in full each month. Some long term payment options are available, but they will be at very high interest rates. As expected, the late fees for missed payments are also quite high.

Unless you have a high-spending business, then this card probably isn’t worth the high annual fee. It will also take a long time to accrue enough points to redeem for something of value if you aren’t spending a lot on your card. Also, you may have to contend with the lower acceptance rate for American Express credit cards at other businesses, which may limit your ability to earn points.

Who is it Suited for?

The Platinum Business card is ideal for established or large businesses, especially those with a lot of travel needs who can put a lot of purchases through the card to earn points.

Who is Eligible?

To be eligible for the Amex Platinum Business card, you must be at least 18 years old, a permanent resident or citizen of Australia, have very good credit with no payment defaults, and an income of at least $75,000.