Credit card showdown: Amex Platinum vs. Amex Business Platinum

Apr 4, 2020

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Editor’s note: This post has been updated with new information. 

Update: If you are a new Amex cardholder, you will get more time to meet required welcome-offer spending because of the effects of the coronavirus pandemic.

Premium credit cards continue to evolve to try to attract and retain customers. Two of the top cards for luxury travel benefits are The Platinum Card® from American Express and The Business Platinum Card® from American Express. Over the years, both have revamped benefits and raised annual fees as more perks were added.

Related reading: The different flavors of American Express Platinum — which one is right for you?

Although a number of the benefits offered by the Amex Platinum and the Amex Business Platinum are the same, there are important differences to consider when deciding which one is right for you.

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In This Post

The basics

Before we dive into the details, here’s a simple comparison of the two cards:

Benefit/Perk Amex Platinum Amex Business Platinum
Welcome bonus 60,000 points after you spend $5,000 on purchases in the first three months of account opening. 75,000 points after you spend $15,000 on qualifying purchases within the first three months of account opening.
Total spend requirement for welcome bonus $5,000 $15,000
Earning rates 5x on flights booked directly with airlines or with American Express Travel

5x on prepaid hotels booked on amextravel.com

1x on everything else

Terms apply

5x on airfare and prepaid hotels booked on amextravel.com

1.5x on purchases of $5,000 or more (up to one million additional points per year)

Terms apply

Annual fee $550 (see rates & fees) $595 (see rates & fees)

Let’s take a closer look.

Welcome bonus

Each card comes with a solid welcome bonus, but the minimum spend required to earn the bonus is where they really differ. You can earn the full 60,000 Membership Rewards points after spending just $5,000 on the Amex Platinum, but the Business Platinum requires a much steeper minimum spend of $15,000 to earn its 75,000-point bonus.

Based on TPG’s valuation of Membership Rewards points at 2 cents each, the full Business Platinum bonus is worth $1,500, making it one of the most valuable offers on the market.

However, some TPG readers have even been targeted for a 100,000-point welcome bonus on the personal Amex Platinum by using the CardMatch tool (offer subject to change at anytime). This targeted offer also requires $5,000 of spending and is better than the publicly available offer on either Platinum card.

Winner: Amex Platinum. Although you’re getting 15,000 more points (worth $300, according to TPG valuations) with the full Amex Business Platinum bonus, it requires a significantly higher spend ($15,000 versus $5,000) to get there. Considering that some cardholders will have the chance to earn up to 100,000 points with the Amex Platinum after just $5,000 in spend (targeted offer; subject to change at any time), it comes out ahead.

delta-wing-airplane-view-mountains-window-landscape
No matter which card you choose, the welcome bonus alone can get you to some fantastic places around the world. (Photo by Darren Murph/The Points Guy)

Rewards structure

Both cards earn 5x points when you purchase airfare and prepaid hotel rooms from amextravel.com, but the personal Amex Platinum also earns 5x on airfare purchased directly with airlines and airfare purchased with American Express Travel over the phone. On the other hand, the Business Platinum card is great for business owners who regularly make large purchases with the card, since all purchases of at least $5,000 earn 1.5x points per dollar, up to 1 million extra points per year.

Related reading: Redeeming American Express Membership Rewards for maximum value

Winner: Amex Platinum. This is a close one, and you might opt for the Business Platinum if you frequently make purchases of more than $5,000, but most people and companies will get more value out of the expanded 5x earnings on airfare, specifically tickets purchased directly with the airline.

Travel perks

Both of these cards excel when it comes to travel perks.

Benefits offered by both cards

Each card offers a credit of up to $100 for the fee for either Global Entry or TSA PreCheck every four years. This saves you a lot of time navigating security prior to your flight and upon your return from international trips.

Another great benefit offered by both cards is the credit of up to $200 for airline fees, which covers baggage fees as well as other incidental charges. There are two important points to remember about this benefit. First, you must select an airline prior to using the credit. Second, it will not cover inflight internet purchases or airfare, so make sure you have a plan to use the card for an eligible expense such as bag fees or seat selection.

As a holder of either card, you’ll also receive Gold status with Hilton Honors and Marriott Bonvoy, which can help you earn more points for your hotel stays as well as offering benefits during your stays.

Speaking of hotels, you’ll also have access to Amex’s Fine Hotels & Resorts (FHR) program with either card. When you book a stay at one of these hotel properties through Amex Travel, you’ll receive benefits such as guaranteed 4 p.m. late check-out, a room upgrade if available, daily breakfast for two and an amenity or credit worth at least $100 for your stay. Prepaid FHR stays booked online will also earn 5x points.

Arizona Biltmore, A Waldorf Astoria Resort (Photo courtesy of the hotel)
The Arizona Biltmore, a Waldorf Astoria Resort, is part of Amex Fine Hotels & Resorts. (Photo courtesy of the hotel)

Both cards also offer a $100 hotel credit on qualifying charges, plus a room upgrade upon arrival when available, when you book a hotel stay of two nights or longer through the American Express Hotel Collection at americanexpress.com/hc. Previously the Business Platinum only offered a $75 credit for Hotel Collection stays, but the credit jumped to $100 in February 2019 to match the personal card.

For those who want lounge access when they travel, both cards come with the American Express Global Lounge Collection. It includes Centurion Lounges, the International American Express lounges, Delta Sky Clubs when flying Delta and Priority Pass Select, Airspace and Escape lounges.

Both of the cards added new trip delay and trip cancellation/interruption protection as of Jan. 1, 2020, and the coverage is identical across both cards. Existing insurance benefits such as purchase protection, extended warranty, secondary rental car coverage, roadside assistance, baggage insurance, travel accident insurance and premium global assist are also virtually identical across both cards. Plus, both cards allow you to add primary rental car coverage through American Express’ Premium Car Rental Protection.

Neither card charges a foreign transaction fee (see Amex Business Platinum rates and fees; Amex Platinum rates and fees).

Differences

Although both cards offer a shopping credit, they are for different retailers. With the personal Amex Platinum, you’ll get up to $100 in statement credits at Saks Fifth Avenue ($50 to use between January and June; $50 to use between July and December). The Business Platinum, on the other hand, comes with up to $200 in Dell statement credits for U.S. purchases ($100 to use January and June; $100 to use between July and December) each year.

Related reading: 10 gifts you can buy using your Amex Platinum $50 Saks Fifth Avenue credit

(Photo by Michael Brochstein/SOPA Images/LightRocket via Getty Images)
The Amex Platinum and Amex Business Plat both come with annual credits on shopping purchases, but for different retailers. (Photo by Michael Brochstein/SOPA Images/LightRocket via Getty Images)

Related reading: 9 Dell items to buy with the Amex Business Platinum credit

With the personal Amex Platinum, you’ll also receive up to $200 in Uber credits each year. Each month, the card provides $15 in credit to use on Uber rides, with an additional $20 for the month of December. Keep in mind that if you don’t use the full credit in one month, it won’t roll over to the next month. Also note that Uber now adds the monthly credits to your Uber Cash balance and you need to select Uber Cash as your payment method to redeem your credits.

Related reading: 3 ways to use your Amex Platinum Uber credit while stuck at home

Winner: Again this one will depend on where you shop the most, but the personal Amex Platinum offers up to $300 in annual credits while the Business Platinum only offers $200. Assuming you can use the Saks and Uber credits, that gives the personal Platinum an edge, although businesses might get more value with the Dell credit instead.

Redemption values

American Express Membership Rewards is one of the most valuable loyalty currencies out there. According to TPG’s valuations, Amex points are worth 2 cents apiece. With 22 transfer partners, Membership Rewards points can help you travel to just about anywhere in the world.

Amex Platinum Amex Business Platinum
Redeeming for flights via Amex Travel 1 cent per point about 1.54 cents per point
TPG valuation 2 cents per point 2 cents per point

One benefit that’s exclusive to the Business Platinum card is that when you book any flight directly with points through Amex Travel on your preselected airline — or business or first class on any airline — you’ll receive a 35% rebate of the points you used (up to 500,000 points each calendar year). This is particularly useful if you don’t have flexible travel dates and award space isn’t available. You will need to have the full amount of points in your account at the time of booking.

Related reading: When to transfer and when to Pay with Points with Amex Business Platinum

If you plan to transfer your Membership Rewards points to one of the program’s airline or hotel partners, you should try to get at least 2 cents per point in value when booking award flights or nights. Of course, if you book business- or first-class flights such as Etihad Apartments, you can expect to get even more value out of these points.

Winner: Tie. No matter which card you get, you know you’re getting excellent value out of your Membership Rewards points. The Business Platinum card may have a small edge thanks to the flexibility of the Pay with Points redemption option.

Which card is right for you?

Photo by The Points Guy
(Photo by The Points Guy)

If you’re looking for a premium credit card loaded with travel perks and you don’t have a business or the substantial expenses that come with one, the personal Amex Platinum should be just what you need. The annual $200 airline-fee credit and $200 Uber credit really take the sting out of the $550 annual fee (see rates and fees). Throw in access to lots of airline lounges, substantial travel benefits and the Membership Rewards you can earn with the card (especially when you book airfare and get 5x), and this looks even better. And remember that you can add up to three authorized users to your Amex Platinum for just $175 per year (see rates and fees).

For business owners, the decision isn’t quite so simple. The Business Platinum card is currently offering a welcome bonus of 75,000 points after spending a total of $15,000 in the first three months, making it an incredibly attractive choice. However, the exact set of perks differs slightly.

Both the personal and business versions of the Platinum come with the airline-fee credit, Global Entry/TSA PreCheck credit, Hilton and Marriott elite status and more. But business owners and employees who travel a lot will appreciate the the 35% points rebate.To make the best choice for your situation, you’ll also want to consider whether you’ll use the 1.5 points per dollar on purchases of at least $5,000 that comes with the Business Platinum. If your business frequently makes larger purchases, this will be a boost.

Also remember that the annual fees differ by $45, with the Amex Platinum carrying a $550 annual fee (see rates and fees) and the Business Platinum a $595 annual fee (see rates and fees). Neither is cheap, but the benefits and the annual credits offset much of the fee on either card, making either one a solid choice for the frequent traveler.

Of course, for some cardholders, it makes sense to have both in their wallet. A small-business owner who wants to maximize travel for both business and pleasure and take advantage of the full range of Platinum benefits can hold both cards. Just make sure your professional and personal spending habits make both annual fees worth it. Combined, these cards come with almost $1,200 in total fees.

Here’s the link to apply for the The Business Platinum Card from American Express with up to a 75,0000-point bonus or The Platinum Card from American Express with a 60,000-point bonus.

For rates and fees of the Amex Platinum, click here.
For rates and fees of the Amex Business Platinum, click here.

Chase Sapphire Preferred® Card

WELCOME OFFER: 80,000 Points

TPG'S BONUS VALUATION*: $1,600

CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners

*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.

Apply Now
More Things to Know
  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
  • 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel.
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn on travel.
Intro APR on Purchases
N/A
Regular APR
15.99%-22.99% Variable
Annual Fee
$95
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Recommended Credit
Excellent/Good

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.