Both the Amex Business Platinum Card vs Amex Platinum Card are premium travel rewards cards loaded with luxurious benefits and perks. However, they cater to slightly different audiences and offer unique advantages. In this comprehensive guide, we’ll delve into the nitty-gritty details of each card, exploring their welcome offers, earning rates, redemption options, and extensive suite of travel and lifestyle benefits. By the end, you’ll have a clear understanding of which card aligns better with your specific needs and spending habits.
Amex Business Platinum vs. Amex Platinum: Welcome Offers
The welcome offer is often the initial draw for many prospective cardholders, and both the Amex Business Platinum and Amex Platinum cards don’t disappoint in this regard.
Amex Business Platinum Card Welcome Offer: Earn 150,000 Membership Rewards points after spending $20,000 on eligible purchases within the first three months of card membership.
Amex Platinum Card Welcome Offer: Earn 80,000 Membership Rewards points after spending $8,000 on eligible purchases within the first six months of card membership.
While the Amex Business Platinum Card offers a higher welcome bonus of 150,000 points, the minimum spending requirement of $20,000 within three months is significantly steeper compared to the Amex Platinum Card’s $8,000 spending requirement over six months.
Assuming a valuation of 2.2 cents per Membership Rewards point, the Amex Business Platinum Card’s welcome offer is worth a staggering $3,300, while the Amex Platinum Card’s offer is valued at $1,760.
Earning Rates: Amex Business Platinum vs. Amex Platinum
Both cards offer generous earning rates in various spending categories, catering to different types of spenders.
Amex Business Platinum Card Earning Rates:
- 5x points per dollar on flights and prepaid hotels booked through Amex Travel
- 1.5x points per dollar on eligible purchases in key business categories and purchases of $5,000 or more (up to $2 million in purchases per calendar year)
- 1x point per dollar on all other purchases
Amex Platinum Card Earning Rates:
- 5x points per dollar on flights booked directly with airlines or through Amex Travel (up to $500,000 per calendar year)
- 5x points per dollar on prepaid hotels booked through Amex Travel
- 1x point per dollar on all other purchases
While both cards offer 5x points on flights and prepaid hotels booked through Amex Travel, the Amex Platinum Card has the added advantage of earning 5x points on flights booked directly with airlines, up to $500,000 per calendar year. However, the Amex Business Platinum Card shines with its 1.5x earning rate on eligible purchases in key business categories (construction, hardware, electronics, software, cloud services, and shipping providers) and purchases of $5,000 or more, up to $2 million per calendar year.
Redemption Options: Amex Membership Rewards Program
Since both cards earn Membership Rewards points, the redemption options are identical. Cardholders can redeem their points for travel reservations through Amex Travel, transfer them to one of Amex’s 21 airline and hotel transfer partners, or use them for statement credits, gift cards, merchandise, and more.
However, the Amex Business Platinum Card offers a unique advantage: the 35% Pay with Points rebate. When using Membership Rewards points to book flights through Amex Travel on your preselected airline or any first or business-class flight, you’ll receive a 35% rebate on the points used, up to 1 million points per calendar year. This valuable perk can significantly stretch the value of your Membership Rewards points when redeeming for premium travel.
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Travel Benefits: Lounge Access, Hotel Status, and More
Both the Amex Business Platinum and Amex Platinum cards offer extensive travel benefits, making them ideal companions for frequent flyers and road warriors.
Lounge Access
Undoubtedly one of the most valuable perks of these cards is the access to the American Express Global Lounge Collection, which includes over 1,400 lounges worldwide, such as Amex’s renowned Centurion Lounges, Delta Sky Clubs (when flying Delta same-day), Priority Pass Select lounges, and more. This perk alone can easily justify the cards’ annual fees for frequent travelers.
Hotel Elite Status
Cardholders of both the Amex Business Platinum and Amex Platinum cards enjoy complimentary Marriott Bonvoy Gold Elite status and Hilton Honors Gold status, unlocking benefits like room upgrades, bonus points, late check-out, and more.
Global Entry or TSA PreCheck Credit
Both cards offer a statement credit for either the Global Entry ($100) or TSA PreCheck ($78) application fee every four or 4.5 years, respectively, making it easier to breeze through airport security and customs.
Fine Hotels & Resorts and The Hotel Collection
Cardholders have access to the Fine Hotels & Resorts program and The Hotel Collection, which provide valuable perks like room upgrades, complimentary breakfast, early check-in, late check-out, and unique amenities at participating hotels.
Travel Protections
Both cards come with a comprehensive suite of travel protections, including trip cancellation and interruption insurance, trip delay insurance, baggage insurance, and secondary rental car coverage.
Lifestyle Benefits: Statement Credits and More
While travel benefits are the primary focus of these premium cards, they also offer a range of lifestyle benefits and statement credits to enhance the overall value proposition.
Amex Platinum Card Lifestyle Benefits:
- Up to $200 annual Uber Cash credit (up to $15 per month, plus an additional $20 in December)
- Up to $240 annual digital entertainment credit (up to $20 per month for select streaming services)
- Up to $300 annual Equinox credit
- Up to $100 semi-annual Saks Fifth Avenue credit
- Up to $155 annual Walmart+ credit
- Complimentary access to the Platinum Concierge service
Amex Business Platinum Card Lifestyle Benefits:
- Up to $400 annual Dell credit (up to $200 semi-annually)
- Up to $360 annual Indeed credit (up to $90 per quarter)
- Up to $150 annual Adobe credit
- Up to $120 annual wireless credit (up to $10 per month)
- 35% Pay with Points rebate (up to 1 million points per calendar year)
While the Amex Platinum Card offers lifestyle credits tailored towards personal expenditures like Uber, digital entertainment, and gym memberships, the Amex Business Platinum Card focuses on business-related credits for services like Dell, Indeed, Adobe, and wireless providers.
Annual Fees and Additional Users
Both the Amex Business Platinum and Amex Platinum cards carry a hefty $695 annual fee (see rates and fees for Platinum and rates and fees for Business Platinum), reflecting their premium status.
However, the cost of adding additional users varies between the two cards. The Amex Platinum Card charges $195 per additional user (see rates and fees), while the Amex Business Platinum Card has a higher fee of $350 per additional user (see rates and fees).
Who Should Get the Amex Business Platinum Card?
The Amex Business Platinum Card is an excellent choice for business owners and entrepreneurs who frequently travel for work and can maximize the card’s travel benefits and business-oriented statement credits. Here are some key reasons to consider the Amex Business Platinum Card:
- You have substantial business expenses in eligible categories like construction, hardware, electronics, software, cloud services, and shipping providers, allowing you to earn 1.5x points per dollar spent (up to $2 million per calendar year).
- You frequently make large purchases of $5,000 or more, which also earn 1.5x points per dollar spent (up to $2 million per calendar year).
- You can take advantage of the 35% Pay with Points rebate when booking flights through Amex Travel, potentially saving you hundreds or thousands of points annually.
- Your business can benefit from the statement credits for services like Dell, Indeed, Adobe, and wireless providers.
- You need additional employee cards for your business, and the higher fee for additional users is justified by the card’s benefits and your business spending.
Who Should Get the Amex Platinum Card?
The Amex Platinum Card is an excellent choice for frequent travelers and luxury seekers who want to enjoy premium travel benefits and lifestyle perks. Here are some key reasons to consider the Amex Platinum Card:
- You frequently book flights directly with airlines and can maximize the 5x earning rate on airfare purchases (up to $500,000 per calendar year).
- You can take advantage of the valuable lifestyle credits for services like Uber, digital entertainment, Equinox, Saks Fifth Avenue, and Walmart+.
- You prefer the lower cost of adding additional users compared to the Amex Business Platinum Card.
- You don’t have substantial business expenses or large purchases that would justify the Amex Business Platinum Card’s higher earning rates and business-oriented credits.
Conclusion
The Amex Business Platinum Card and Amex Platinum Card are both premium travel rewards cards that offer exceptional value for frequent travelers and luxury seekers. While they share many similarities, such as lounge access, hotel elite status, and travel protections, they cater to slightly different audiences.
The Amex Business Platinum Card is tailored for business owners and entrepreneurs who can maximize the card’s higher earning rates on eligible business categories and large purchases, as well as take advantage of the 35% Pay with Points rebate and business-oriented statement credits.
On the other hand, the Amex Platinum Card is better suited for personal use, offering valuable lifestyle credits and a lower cost for adding additional users, making it an excellent choice for frequent travelers who don’t have substantial business expenses.
Ultimately, the decision between the Amex Business Platinum and Amex Platinum cards will depend on your specific needs, spending habits, and ability to maximize the unique benefits each card offers. Regardless of your choice, you’ll be rewarded with a luxurious travel experience and a comprehensive suite of premium benefits.
Frequently Asked Questions
Can I hold both the Amex Business Platinum and Amex Platinum cards?
Yes, it is possible to hold both the Amex Business Platinum and Amex Platinum cards simultaneously. However, keep in mind that American Express has strict rules regarding welcome bonuses, and you may not be eligible for the welcome bonus on the second card if you’ve already earned a welcome bonus on a similar product within the last 90 days.
Can I use the Amex Platinum Card for business expenses?
While the Amex Platinum Card is primarily designed for personal use, you can certainly use it for business expenses. However, you may miss out on the higher earning rates and business-oriented credits offered by the Amex Business Platinum Card.
Do the Amex Business Platinum and Amex Platinum cards have foreign transaction fees?
No, neither the Amex Business Platinum nor the Amex Platinum Card charges foreign transaction fees (see rates and fees for Platinum and rates and fees for Business Platinum), making them excellent choices for international travel and purchases.
Can I transfer Membership Rewards points between the Amex Business Platinum and Amex Platinum cards?
Yes, you can transfer Membership Rewards points between the Amex Business Platinum and Amex Platinum cards, as long as both accounts are in your name. However, keep in mind that American Express may occasionally impose restrictions or limitations on point transfers.
Do the Amex Business Platinum and Amex Platinum cards offer any purchase protection benefits?
Yes, both cards offer purchase protection benefits, including extended warranty coverage, return protection, and purchase protection against damage or theft. The specific terms and conditions may vary, so be sure to review the purchase protection terms for each card.
In another related article, Visa vs. Amex: Which is better for international travel?
