INTRODUCTION / MAVEN NOTE:

The Business PlatinumCard® from American Express is one of the top credit cards on the market, witha large sign-up bonus and excellent benefits. No other card offers suchextensive travel benefits – including global lounge access, travel schemerebates, and hotel and car rental elite status. The card is designed forbusinesses– but this includes small businesses and sole proprietors.

Earnings rates with thecard are excellent – especially for businesses and travelers. It features amarket leading rate of five Membership Rewards® points per dollar spent onflights and hotels, plus 1.5 or 1 points per dollar on all other spending. Commonvaluations of Membership Rewards® points are around two cents per dollar,making this better than most cashback rates on the market.

These benefits, however,come with a high fee. This is not a card for the casual user, but higherspending users or frequent travelers can certainly receive enough to justifythis higher fee.

MAIN CARD BENEFITS:

Earnings rate of fiveMembership Rewards® points per dollar spend on flights and hotels (when bookedat AmexTravel.com).

All purchases over $5,000earn 1.5 Membership Rewards® points per dollar.

All spending at US-basedconstruction material and hardware suppliers, electronic goods retailers andsoftware / cloud system providers, and shipping providers earns 1.5  Membership Rewards® points per dollar.

All other spending earns 1point per dollar.

A very high sign-up bonusof 150,000 Membership Rewards® points when spending $20,000 in three months.

The sign-up bonus can beeven higher with special offers, or if referred by an existing card holder. Abonus of up to 250,000 Membership Rewards® points is often available.

Global airport loungeaccess with multiple lounge operators. These include American Express Centurionlounges, Priority Pass, Delta Sky Clubs (10 visits per year), Escape lounges,Plaza Premium, Airspace lounges, and Lufthansa operated lounges.

Rebates for Global Entryor TSA PreCheck, and Clear Plus.

Complimentary hotel elitestatuses – Gold with Marriott Bonvoy and Gold with Hilton Honors.

Complimentary car rentalprogram statuses – including Avis Preferred Plus, Hertz Gold Plus RewardsPresident's Circle, and National Car Rental Emerald Club Executive.

Annual statement credit ofup to $200 for charges with one chosen airline (most major US airlines areincluded). It covers incidentals and purchases including seat and bag fees,lounge access, and onboard purchases.

Business spending creditswith several companies – including $150 with Dell Technologies, $360 withIndeed, $250 with Adobe, and $120 with US wireless providers.

Insurance cover includescar rental loss and damage insurance, baggage insurance when travelling, andtrip delay insurance.

TheAmerican Express business cards are charge cards, meaning that balances need tobe paid in full each month. The card does also offer a Pay Over Time feature,allowing a balance to be carried and interest charged.

No foreign transactionfees on overseas purchases.

WHO IS THE CARD BEST FOR:

This is a card for thosethat travel. It offers the highest rewards rate for flight bookings. And theextensive travel benefits can easily save more than the annual fee for frequenttravelers.

With such a high sign-upbonus however, it could also be a great choice for high spending individuals orbusinesses looking to make the most of it in the first year.

PROS:

Unbeatable premium travelbenefits, including the widest range of lounge access benefits of any card.

Total credits on offerexceed $1500 annually. This alone can make the card fee worthwhile.

High earning rates of fiveMembership Rewards points for travel, and at least one point on all otherspending.

Membership Rewards offersplenty of airline and hotel transfer partners and ways to maximize value ofpoints.

Complimentary hotel elitestatuses are mid-tier and offer good benefits for regular users.

CONS:

High annual fee of $695 –you need to be sure of the benefits you will use.

The spending requirementf or the sign-up bonus is a high $20,000 in just three months. This could be outof reach for some small businesses.  

A high credit score is usually required for acceptance.

The points earning bonus categories (outside of travel) are limited.

No 0%APR introductory offer on purchases or balance transfers.

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