Earn a Welcome Bonus of 35,000 points when you charge $7,000 in purchases to your Card in your first three months of Cardmembership
In addition to the welcome offer, card holders earn five times the membership rewards points when they spend on flights and prepaid hotels purchased through AMEX’s travel website. When card holders spend on eligible purchases, you’ll earn 50% more points with a cap of one million points per year. Finally, card holders earn one point per dollar on all other purchases.
This American Express card has a lot of other perks in addition to the lucrative rewards points earnings. Business Platinum card holders receive a $200 airline fee credit, 35% of points back when eligible flights are purchased through AMEX, discounts on Global Entry and TSA PreCheck memberships, global airport lounge access and gold status at Marriott and Hilton hotels loyalty programs. There are also no foreign transaction fees on this credit card. Keep in mind that the cost of all these benefits is $595 per year, but you certainly get your money’s worth.
Points can be used to purchase anything through American Express’ rewards center. This includes travel purchases, statement credits, event tickets among many others. You definitely won’t have trouble finding something to redeem your points on as there’s something for everyone! Although, the most value will go to businesses who incur a lot of travel. Not only will you earn more points, you’ll also get better deals when redeeming points.
In terms of disadvantages, there are a few. First, this is a charge card which means that the balance is due in full at the end of every month. If your cash flow isn’t the greatest, paying the full balance every month can be problematic, particularly if you incur the high interest hikes by missing a payment. Second, if you don’t travel much, this card doesn’t make a lot of sense, especially when you consider the annual fee. Lastly, if you’re not into all the snazzy travel perks and prefer simplicity, you’re best going with another travel-based credit card.
In summary, the American Express Platinum card is ideal for business owners who have a high spending volume, travel a lot and have ample cash flow. If you’re none of those things, or simply want a more basic credit card, then consider one of AMEX’s other travel credit cards or another credit card issuer.