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Amex Platinum vs. Amex Business Platinum

Amex Platinum vs. Amex Business Platinum

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Aug 28, 2020. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

If you’re in the market for a premium travel rewards card with a slew of valuable benefits, The Platinum Card® from American Express and The Business Platinum Card® from American Express are tough to beat.

When deciding between the two cards, know that The Platinum Card® from American Express is marketed to consumers who travel frequently and plan to take advantage of the card’s extensive benefits. And if you’re a small business owner, The Business Platinum Card® from American Express allows you to earn an influx of valuable rewards to help offset the cost of business travel.

Comparing The Platinum Card® from American Express and The Business Platinum Card® from American Express

While The Platinum Card® from American Express and The Business Platinum Card® from American Express both come with hefty annual fees, the value you can get from their rewards and elite benefits can help offset that amount each year. See how the cards compare side by side in the table below.

The Platinum Card® from American Express vs. The Business Platinum Card® from American Express

 The Platinum Card® from American ExpressThe Business Platinum Card® from American Express
Annual fee$695$595 (10/14-1/12/22)
Welcome offer100,000 Membership Rewards® Points after you spend $6,000 on purchases on the Card in your first 6 months of Card Membership. Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
Rewards rate5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel on up to $500,000 on these purchases per calendar year and 5X Membership Rewards® points on prepaid hotels booked with American Express Travel. Terms apply. 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com. Get 50% more Membership Rewards® points. That's an extra half point per dollar, on each eligible purchase of $5,000 or more.
Intro APR on purchasesN/ASee Pay Over Time APR
Regular purchase APRSee Pay Over Time APRTo see rates & fees for The Business Platinum Card® from American Express please click here.
Foreign transaction feesNoneNone

The Platinum Card® from American Express pros and cons

The Platinum Card® from American Express

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on American Express's secure site

Terms Apply

Rates & Fees

  • Earn 100,000 Membership Rewards® Points after you spend $6,000 on purchases on the Card in your first 6 months of Card Membership.

  • Earn 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of Card Membership.

  • Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only.

Highlights
  • Earn 100,000 Membership Rewards® Points after you spend $6,000 on purchases on the Card in your first 6 months of Card Membership.
  • Plus, earn 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of Card Membership.
  • Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
  • $200 Hotel Credit: Get $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when you pay with your Platinum Card®.
  • $240 Digital Entertainment Credit: Get up to $20 in statement credits each month when you pay for eligible purchases with the Platinum Card® at your choice of one or more of the following providers: Peacock, Audible, SiriusXM, and The New York Times. Enrollment required.
  • $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership with a statement credit after you pay for Walmart+ each month with your Platinum Card. Cost includes $12.95 plus applicable local sales tax.
  • American Express has expanded The Centurion® Network to include 40+ Centurion Lounge and Studio locations worldwide. Now there are even more places your Platinum Card® can get you complimentary entry and exclusive perks.
  • $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year in baggage fees and more at one select qualifying airline.
  • $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only.
  • $300 Equinox Credit: Get up to $25 back each month on select Equinox memberships when you pay with your Platinum Card®. Enrollment required.
  • $179 CLEAR® Credit: Use your Card and get up to $179 back per year on your CLEAR® membership.
  • $695 annual fee.
  • Terms Apply.
  • See Rates & Fees

See additional details for The Platinum Card® from American Express

More Info

Pros

Welcome offer. The Platinum Card® from American Express offers 100,000 Membership Rewards® Points after you spend $6,000 on purchases on the Card in your first 6 months of Card Membership.

If you redeem Membership Rewards points for airfare, flight upgrades or hotel stays through American Express Travel, points will be worth 1 cent each — making the current welcome bonus worth $750 in travel.

If you redeem those same points for other types of travel through American Express Travel, such as prepaid hotels or cruises, or to pay with points at participating merchants, including Amazon.com and Best Buy, they will be worth 0.7 cents each — bringing the value of the welcome bonus to $525.

Rewards rate. Cardholders earn 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel on up to $500,000 on these purchases per calendar year and 5X Membership Rewards® points on prepaid hotels booked with American Express Travel. Terms apply.

In addition to redeeming points for travel, gift cards, merchandise, covering card charges and paying with points at checkout, Membership Rewards points can be transferred (mostly at a rate of 1:1) to 22 airline and hotel partners, including AeroMexico, Air France KLM, British Airways, Delta Air Lines, JetBlue Airways and more.

Global Lounge Collection®. Access more than 1,200 airport lounges across 130 countries, including The Centurion® Lounge,The International American Express lounges, Delta Sky Club® and Priority Pass™ Select lounges.

Best Airport Lounge Access: The Platinum Card® from American Express

Airline fee credit. Choose one qualifying airline and receive up to $200 in statement credits per calendar year to cover incidental fees, such as checked bags and in-flight refreshments. Enrollment required.

You may change your qualifying airline one time each year in January here or by calling the number on the back of your card.

Up to $200 in Uber credit. Upon enrollment, receive $15 in Uber Cash for rides or eats orders in the U.S. each month, plus a $20 bonus in December — for a total of up to $200 per year. You also get automatic Uber VIP status.

Shop with Saks benefit. Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue or saks.com. Enrollment is required.

Global Entry or TSA Precheck credit. Get up to $100 every four years to cover your Global Entry or TSA Precheck application fee.

Additional benefits. Automatic Marriott Bonvoy Gold Elite Status and Hilton Honors Gold Status once enrolled, car rental loss and damage insurance, trip interruption and delay insurance, trip cancellation insurance, purchase and return protection, baggage insurance, Global Assist, cellphone protection, preferred seating for select events, extended warranty, complimentary American Express Gold card and more. As for foreign transaction fees, there are none.

Cons

Annual fee. The Platinum Card® from American Express charges a pricey annual fee of $695. However, if you take advantage of the card’s valuable benefits, including the $200 airline fee credit, $200 Uber credit and airport lounge access, those can easily offset much of that fee each year.

Modest rewards on general purchases. While The Platinum Card® from American Express offers an elevated rewards rate on select travel purchases, all other purchases, including dining, gas, groceries, car rentals and cruises, only earn 1 point per dollar.

To see rates & fees for The Platinum Card® from American Express please click here.

The Business Platinum Card® from American Express pros and cons

  • Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.

  • Complimentary access to over 1000+ airport lounges*

  • Get 50% more Membership Rewards® points. That's 1.5 points per dollar, on each eligible purchase of $5,000 or more*

Highlights
  • Welcome Offer: Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
  • Plus, 0% Intro APR for 12 months from the date of the account opening on purchases eligible for Pay Over Time. After that, your APR will be 14.24% to 22.24% based on your credit worthiness and other factors as determined at the time of account opening.
  • Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com.
  • Earn 1.5X Membership Rewards® points on eligible purchases in key business categories, as well as on purchases of $5,000 or more everywhere else. Cap applies. 
  • Unlock over $1,000 in value per year for statement credits on select purchases with your Card, including up to $400 with Dell Technologies, up to $360 with Indeed, up to $150 with Adobe and up to $120 on wireless telephone purchases. Enrollment required.
  • $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year toward baggage fees and more at one qualifying airline.
  • $179 CLEAR® Credit: Use your Card and get up to $179 back per year on your CLEAR® membership.
  • Access to more than 1,300 airport lounges across 140 countries and counting with The American Express Global Lounge Collection®. More lounge options than any other credit card on the market as of 8/2020.
  • $595 Annual Fee ($695 if application is received on or after 01/13/2022).
  • Terms Apply.
  • See Rates & Fees

See additional details for The Business Platinum Card® from American Express

More Info

Pros

Welcome bonus. The Business Platinum Card® from American Express offers the following welcome bonus: Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.

The Business Platinum Card® from American Express shares the same rewards value as The Platinum Card® from American Express — meaning, its welcome bonus is worth $1,000 when redeemed for airfare, flight upgrades and hotel stays through American Express Travel, $700 when used to pay with points at checkout and $600 when used to over previous charges.

Rewards rate. Cardholders earn 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com. Get 50% more Membership Rewards® points. That's an extra half point per dollar, on each eligible purchase of $5,000 or more.

For example, if you spend $10,000 on office equipment, you’ll earn 15,000 points on that purchase (instead of 10,000 points). You can get a maximum of 1,000,000 extra points associated with this benefit per calendar year, per account.

Airline bonus. When you use Membership Rewards Pay with Points for all or part of an eligible fare, receive 35% of those points back — up to 500,000 points back per calendar year.

$200 airline fee credit. Choose one qualifying airline and receive up to $200 in statement credits per calendar year to cover incidental fees, such as checked bags and in-flight refreshments. Enrollment required.

You can change your qualifying airline one time each year in January here or by calling the number on the back of your card.

Global Lounge Collection®. Once enrolled, access more than 1,200 airport lounges across 130 countries, including The Centurion® Lounge, The International American Express lounges, Delta Sky Club® and Priority Pass™ Select lounges.

Credit Cards with Unlimited Lounge Access

Additional benefits. Up to $100 Global Entry or TSA Precheck application fee credit, automatic Marriott Bonvoy Gold Elite Status and Hilton Honors Gold Status, car rental loss and damage insurance, trip delay insurance, trip cancellation and interruption insurance, baggage insurance, return protection, preferred seating for select events, extended warranty, purchase protection, Global Assist and cellphone protection. As for foreign transaction fees, there are none.

Cons

High spend threshold to earn bonus. The Business Platinum Card® from American Express offers a higher welcome bonus than The Platinum Card® from American Express; however, the card also requires a much higher spend threshold to earn the bonus. Cardholders are required to spend $15,000 in the first three months of card membership with the business card, compared to $5,000 in the first three months with the consumer card.

Annual fee. The Business Platinum Card® from American Express also comes with a slightly higher annual fee than The Platinum Card® from American Express. That said, the value you can get from The Business Platinum Card® from American Express’s credits, lounge access and other benefits can help offset the $595 (10/14-1/12/22) annual fee each year.

To see rates & fees for The Business Platinum Card® from American Express please click here.

Is the Amex Business Platinum Worth It? A List of Benefits

Which credit card is right for you?

The Platinum Card® from American Express and The Business Platinum Card® from American Express are impressive cards if you’re in the market for a premium travel rewards card, since they both offer generous travel rewards, a variety of redemption and transfer options and extensive benefits, such as Global Entry or TSA Precheck credits and lounge access.

Ultimately, the right card for you comes down to whether or not you ‘re a small business owner. Applicants for The Business Platinum Card® from American Express will need to provide their business tax ID, business revenue and business name on the application form. If you’re not a business owner, you can apply for the consumer version of the card.

Also, know that both cards require that you have excellent/good credit in order to be approved.

Chase Sapphire Reserve vs. The Platinum Card® from American Express: Is It Foolish to Have Both Cards?


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