Amex Business Platinum Card Review: 25,000 Bonus Ending- Worth It?
Update: Some offers mentioned below are no longer available. View the current offers here.
Offer expired October 29, 2012:
While 25,000 points isn't the most earth shattering sign-up bonus, for most of 2011 American Express' didn't even have a public sign-up bonus for the Business Platinum card. It's been 25,000 points after $5,000 spent within the first 3 months since February, but I just got an email that the current offer expires on October 29, 2012 and my gut tells me that it won't be increasing. I've been meaning to switch to a Business Platinum card, because it comes with more perks than the personal (including Open Savings and 20% rebate when using Pay With Points). The key benefits of the card are:
Discounts
The Business Platinum has most of the same perks as the personal Platinum, but it's also entitles cardmembers to the American Express Open Savings program, which gives automatic discounts with certain vendors, such as up to 10% at Hertz and Office Max, 5% at Courtyard by Marriott and 3% at Hyatt.
$200 Airline Credit
Cardmembers also get $200 a year in airline rebates on the airline of their choice. So if you select American Airlines, all fees like baggage and in-flight snacks/food will be refunded- up to $200. See this post for maximizing that benefit. The credit resets on January 1 so if you got the card now, you'd get $200 and then another $200 on 2013- almost completely outweighing the $450 annual fee. In my eyes, this brings the real cost of the card down to $250 a year- which is a steal for lounge access to American, Delta, US Airways and Priority Pass Select.
Lounge Access
Update: Beginning March 22, 2014, American Express Card Members will no longer have access to American Airlines Admiral Club and US Airways Club airport lounges through Airport Club Access / Airport Lounge Program. This means that Card Members will no longer be able to gain complimentary access to the American Airlines airport lounges (known as Admirals Club lounges) or the US Airways Club airport lounges as a benefit of their Platinum Card Membership. Cardmembers will continue to receive access to participating Delta Sky Club lounges, Priority Pass Select (enrollment is required), and Airspace lounges in JFK, CLE and BWI airports.
The card gives lounge access to American Airlines Admirals Clubs when flying American, Delta SkyClubs when flying Delta and US Airways Clubs- in addition to Priority Pass Select lounges, like the Oasis at JFK.
Points
Points earned on the Business Platinum are earned in Membership Rewards First, which means they can be transferred to partners like Delta, British Airways, Virgin America, Virgin Atlantic and Hilton- often at lucrative transfer bonuses, like the most recent 40% bonus to British Airways.
Points can also be used to purchase any flight with Pay With Points and Business Platinum cardholders will continue to get a 20% rebate (this benefits is being discontinued for personal Platinum cardholders), so points are worth 1.25 cents to purchase travel through Amex Travel. So the 25,000 point sign-up bonus would equate to $312.50. Amex purchases the airline tickets, so you earn miles and elite miles.
Other Benefits
-No foreign transaction fees
- Complimentary access to Regus office lounges
- $100 Global Entry fee rebate
- Fine Hotels & Resorts- premium perks like early check-in and upgrades at upscale hotels around the world
- 24/7 Concierge service
- National/ Avis/ Hertz preferred status
- Purchase protection of $10,000 per occurrence and up to $50,000 per calendar year. Good for up to 90 days from your date of purchase.
- Extended warranty extends the terms of the original manufacturer's warranty up to one year. Up to $10,000 per item, $50,000 per calendar year. Good for eligible U.S. purchases with warranties of 5 years or less.
- Roadside assistance
- Global Travel Assist (Emergency services)
Worth It?
If you were to get the card now, you'd get a $200 airline credit now, $200 on January 1 and the 25,000 points for the sign-up bonus are worth at least $312.50, so in my opinion it's a no brainer, at least for the first year. Going forward, if you value lounge access, in my opinion its worth the $250 out of pocket to get American, Delta, US Airways and Priority Pass coverage. If you value the $100 Global Entry credit as well, you are looking at $812.50 in value from the points and benefits/rebates in the first year.
I have the personal Platinum, but I'm thinking about getting the Business Platinum for the bonus and additional Open Savings benefits. However, the T&C state "Welcome bonus offer not available to applicants who have had this product or any other Business Gold or Green Card account within the last 12 months". I just got the Business Gold in February, so technically I wouldn't be eligible for this sign-up bonus, but I've heard of people still getting Amex bonuses even when they technically don't qualify, so I may roll the dice. Does anyone have any personal experience recently getting an Amex bonus, when they technically don't qualify?
TPG featured card
at American Express's secure site
Terms & restrictions apply. See rates & fees.
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 5X | New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App. |
| 3X | Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines. |
| 2X | Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Pros
- Valuable dining and food-related credits
- Flexible rewards with airline and hotel transfer partners
- Multiple travel and purchase protections
- No foreign transaction fees
- Access to Amex Offers for additional savings (enrollment required)
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App.
- Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines.
- Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You’ll know upfront exactly how much you’ll pay.
- Updated! $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That’s up to $50 in statement credits semi-annually. Enrollment required.
- $84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin’ locations. Enrollment required.
- $120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
- New! As an American Express® Gold Card Member, you can enjoy complimentary Hertz Five Star® Status. Enjoy benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
- Take advantage of a $100 credit towards eligible charges* at over 1,300 upscale hotels worldwide when you book The Hotel Collection through AmexTravel.com or the Amex Travel App **. *Eligible charges vary by property. **The Hotel Collection requires a two-night minimum stay.
- Book your travel through the Amex Travel App with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.