The Business Platinum® Card from American Express OPEN from American Express OPEN, a GET.com advertiser, is a charge card for those of you who are business owners who have a strong business credit history, and are often flying for business. This business card offers a myriad of benefits, such as airport lounge access, plus a generous welcome offer. However, this card has an annual fee of $450. Considering that some business credit cards out there do not have any annual fees, the question to ask is, is this card a good choice of card for your business needs? Read on to find out if the benefits outweigh the cost, and if the The Business Platinum® Card from American Express OPEN is right for your business.
Things We Like About The Business Platinum® Card from American Express OPEN
Earn up to 75,000 Membership Rewards® points. You can earn 50,000 Membership Rewards points after you spend $10,000, plus an extra 25,000 points after you spend an additional $10,000 all on qualifying purchases within your first 3 months of Card Membership. Only people who haven't had a Business Gold or Green Card in the last 12 months will be eligible to receive these bonus points.
No pre-set spending limit. Since this is a charge card, you won't be capped by a spending limit, thus giving you more spending flexibility. Purchasing power adjusts with your use of the card, your payment history, credit record and other factors. Remember that you must pay off your balances in full each month.
Access to over 900 airport lounges worldwide. Enjoy two complimentary airport lounge programs - Priority Pass Select and the Airport Club Access Program. Once enrolled in the Priority Pass Select Program, you can access participating Priority Pass Select lounges, and if you bring an accompanying guest to the lounge, you will be charged $27 per guest to your card after you have signed for the visit and it has been reported to Priority Pass by the participating lounge. These two programs allow you access to more than 900 airport lounges worldwide and in the US, including the Delta Sky Club and American Express CenturionSM lounges. We think this is a generous benefit for the frequent flyer since a comparable Priority Pass Prestige membership alone costs $399.
Enjoy $200 airline fee credit each year. You must enroll and select a qualifying airline to be able to enjoy this benefit (you may change your airline of choice in January of each year). This credit can cover incidental fees, such as checked bags and in-flight refreshments, incurred on the airline of your choice, and each card account may get up to a total of $200 in statement credit per calendar year. Do note that claimable amounts must be charged by the airline company itself onto your Business Platinum Card® from American Express OPEN. You may receive your credit 2-4 weeks after the qualifying incidental air travel fee is charged to your account.
Global Entry Fee Credit. Want quick clearance when going through US customs? As a card member, you can apply for Global Entry, a US government program that allows expedited clearance for travelers who have been approved, pay a $100 application fee (this must be paid whether you are approved or not), and then receive the $100 statement credit 6-8 weeks after the transaction is charged to your card account.
Earn points through the Membership Rewards® program. You will automatically be enrolled in this program, and you won't have to pay any enrollment fee. You will earn 1 point for every dollar spent on eligible purchases under $5,000 with your Business Platinum Card® from American Express OPEN. Get 50% more Membership Rewards® points, that's 1.5 points per dollar, on each qualifying purchase of $5,000 or more. You will be pleased to know that there is no limit to the points you can earn and points don't expire.
Redeem points in many different ways. The American Express Membership Rewards® program is one of our best rated rewards programs in the US. Rewards can be redeemed towards the cost of purchases charged to your Card, transferred to many popular frequent travel programs, used to book travel through American Express, redeemed right at the counter or online checkout at partner merchants, or redeemed for merchandise and gift cards. You can even redeem points towards Airbnb stays and Uber rides.
Receive a 50% airline bonus when you use Membership Rewards® Pay with Points to make your airfare purchase through American Express Travel.
No foreign transaction fees. When using this card to pay for purchases in a non-US currency, you won't be charged with a foreign transaction fee, which some credit cards charge a 3-5% for.
Enjoy unlimited complimentary Boingo Wi-Fi at over 1,000,000 Boingo hotspots worldwide and get 10 Gogo inflight internet passes annually. You must first create a Boingo American Express Preferred Plan account and be authenticated to enjoy this benefit. This way you can get connected to the Internet at over 1,000,000 locations around the world. You may also receive alerts and connect seamlessly to Boingo by downloading the Wi-Finder App to your mobile device, laptop or tablet. Enroll your Card with Gogo to get 10 Gogo inflight internet passes annually.
Purchase Protection. Your purchases can be covered if they get accidentally damaged or stolen within 90 days of your purchase being made.
Concierge services with Business Platinum Concierge. You can have access to 24/7 concierge service to help you when planning events, shopping or whenever you need help both personally and professionally.
Enjoy Extended Warranty. You can enjoy extended warranty on your purchases which can double the original warranty period to a maximum of one additional warranty year.
Our Least Favorite Things About The Business Platinum® Card from American Express OPEN
Annual fee of $450. You must pay this annual fee each year for this card. If you frequently fly for business, this card's many benefits can more than outweigh its cost. For example, if you are in the habit of paying $40-$100 for airport lounge access several times a year, use Global Entry, and spend around $200 or more every year on checked bags and in-flight refreshments with your preferred airline, the annual savings you get can easily cover the annual fee (and then some).
How Other Cards Compare With The Business Platinum® Card from American Express OPENThe Business Gold Rewards Card from American Express OPEN may seem to be the next on down the line when it comes to benefits and price. At $0 introductory annual fee for the first year, then $175, it certainly costs less than The Business Platinum® Card from American Express OPEN. But the fact is, this card is all about earning rewards on your business spending, rather than showering you with prestigious travel and business benefits. When you use this card to pay, you get 3x points in your choice of 1 out of 5 categories, and you get 2X points on the 4 remaining categories. All other purchases earn 1X point per $1 spent. The spending categories are relevant to most businesses (U.S. purchases at gas stations, U.S. purchases for advertising in select media, airfare purchased directly from airlines, U.S. purchases for shipping and purchases of U.S. computer software, hardware, and cloud computing services directly from select providers). Compare that to the 1 point per $1 of purchases which you get with The Business Platinum® Card from American Express OPEN, and it becomes obvious that this is the more rewarding card. However, it doesn't give you the same potential travel savings which you get with The Business Platinum® Card from American Express OPEN, such as complimentary access to over 900 airport lounges worldwide, complimentary internet access when you enroll your Card with Gogo and Boingo (10 Gogo inflight internet passes annually, unlimited Wi-Fi at Boingo hotspots), the 50% airline bonus and many more. You do get complimentary travel insurance coverages and no foreign transaction fees, which are benefits you also get with The Business Platinum® Card from American Express OPEN. And The Business Platinum® Card from American Express OPEN has a larger welcome offer of 40,000 Membership Rewards® points after you charge $5,000 in purchases to the Card within your first 3 months of Card Membership, compared to The Business Gold Rewards Card from American Express OPEN which gives you 25,000 Membership Rewards® points after you charge $5,000 of purchases to the Card within the first 3 months of Card Membership. If you travel a lot, the benefits you get with The Business Platinum® Card from American Express OPEN are worth the annual fee, in our opinion. But The Business Platinum® Card from American Express OPEN is a more rewarding card for everyday business spending.
The Business Platinum® Card from American Express OPEN is a prestigious business charge card with almost unparalleled travel and lifestyle benefits that will serve the traveling business person well.
The Business Platinum® Card from American Express OPEN is an excellent choice of charge card to get if you are a small business owner who fly frequently for work and want to enjoy travel-related privileges whether you are in the US or overseas. The standout benefit of this The Business Platinum® Card from American Express OPEN is that you get to earn 75,000 Membership Rewards points as signing bonus after meeting the minimum spend requirements. You'll earn 50,000 points after you spend $10,000, plus an extra 25,000 points after you spend an additional $10,000 all on qualifying purchases within your first 3 months of Card Membership. This offer will only apply to those who haven't had a Business Gold or Green Card in the last 12 months.
Although this card has an annual fee of $450 that you must pay each year, if you travel often, you can enjoy airport lounge access when you travel, as well as up to $200 in statement credit to cover your selected airline incidental charges. What I particularly like is that it gives you a $100 statement credit if you pay $100 for Global Entry, a government program that allows expedited clearance for travelers who have been approved.
You will earn 1 point per eligible dollar spent on this card. You can also enjoy additional benefits such as Purchase Protection, Extended Warranty and Travel Accident Insurance. Terms and restrictions apply.
If your business has a strong credit history with a positive cash flow, and you are looking for a charge card with travel-related perks, the The Business Platinum® Card from American Express OPEN might be a good choice of card for your business needs.
Pedro Pla is co-founder of GET.com. He has been around the globe several times and considers collecting air miles and points from credit cards to be a hobby, if not, an obsession. Email: email@example.com.Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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