Business credit cards account for less than 4% of the cards in existence. Yet they represent $430 billion in spending by business owners. If you’re looking for a charge card for your business, you should take a look at the American Express business platinum.
This business travel card can give you elite status to your small business. So read this guide and learn if your business expenses make the travel perks for this card worth it.
American Express Business Platinum Benefits
If you make qualifying travel expenditures, then you can benefit from the generous perks and welcome offer. There are also no foreign transaction fees, which is perfect for international travelers. Plus cardholders get airport lounge access, TSA PreCheck, and airline fee credits.
- 75,000 Membership Rewards welcome bonus after you spend $15,000 on qualifying purchases within your first 3 months of card membership
- 5X Membership Rewards points on flights and prepaid hotels on amextravel.com
- 1.5 points on each eligible purchase of $5,000 or more
- 35% Airline bonus points on qualifying airline purchases
- Enroll to get up to $200 in statement credits per calendar year
What Are The Cons?
The biggest con of this card is the $595 annual fee. You’ll also find cards that have better rewards for spending that isn’t travel related.
How To Get Amex Business Platinum
The easiest way to get your own American Express Business Platinum card is to apply online. You’ll fill out an application that requests your personal and financial information.
American Express typically approves within minutes of submitting your application. Some applications get flagged for further review and require proof of income.
How to Qualify for American Express Business Platinum
The first thing you need is to have an EIN for your corporation or partnership. If you’re a sole proprietor, then you can use your EIN or social security number.
To have the best odds of approval, you should have a credit score that is 740 or better. If your credit score is on the low side, you can bolster this with a higher annual income or previous relationship with American Express.
Is It Worth It?
As with any rewards card, the answer to whether this card is worth it will depend on your specific circumstances. This is the card to consider if you’re more interested in the travel benefits that come with it, rather than earning a return on expenditures.
The bottom line is that if your business consistently spends over $5,000 in travel purchases, then this card can be a smart pick. Anything under this and the benefits may not be worth the expense. Keep in mind that you’ll be required to pay the $595 annual fee.
Does Amex Business Platinum Get Uber Credit?
No, you do not get an Uber credit with the Business Platinum card. Only the Amex Platinum gives an Uber credit of $200 per year.
Does Amex Business Platinum Report to Credit Bureaus?
Yes, just like other credit card issuers, American Express will report to the credit bureaus if your account falls out of good standing. This means that even though your card is a business card, failing to make in full on-time payments can result in a negative report to the credit bureaus.
Get Your Own American Express Business Platinum Card
Does the American Express business platinum sound like the perfect travel rewards credit card for your business? Then check your credit score and apply. Fill out an application and wait for approval.
Check out the credit cards section of our blog for more reviews and helpful advice.