Platinum showdown: Amex Platinum vs. Amex Business Platinum

Aug 24, 2021

This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.

Update: Some offers mentioned below are no longer available. View the current offers here – The Business Platinum Card® from American Express

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


Over the past several years, we have seen premium cards evolve to attract and retain customers.

Two of the top cards for premium travel and lifestyle benefits are The Platinum Card® from American Express and The Business Platinum Card® from American Express. Both have revamped their perks in recent months. In fact, the Platinum card received a major refresh in July with a host of additional benefits, alongside an increase to the card’s annual fee to $695 (see rates and fees).

Although there are some overlapping benefits offered by the Amex Platinum and the Amex Business Platinum, there are important differences to consider when deciding which one is right for you. The July refresh deepened the divide between these two cards.

Let’s take a closer look.

New to The Points Guy? Want to learn more about credit card points and miles? Sign up for our daily newsletter.

In This Post

An overview

Before we dive into more details, here’s a comparison of the two cards’ welcome offers, earning rates and major perks and credits.

Benefit/perk Amex Platinum Amex Business Platinum
Welcome offer Earn 100,000 points after you spend $6,000 on purchases in your first six months of card membership. Earn 100,000 points after you spend $15,000 on eligible purchases within the first three months of card membership.

 

Earning rates Earn 10x points at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first six months

5x on flights booked directly with airlines or with American Express Travel (up to $500,000 on these purchases per calendar year)

5x on prepaid hotels booked on Amex Travel

1x on all other eligible purchases

Terms apply.

5x on airfare and prepaid hotels booked on Amex Travel

1.5x on purchases of $5,000 or more (up to 1 million additional points per calendar year, then 1x)

Terms apply.

Prepaid hotel booking credit 

Up to $200 annual credit valid on prepaid bookings at Fine Hotels + Resorts or The Hotel Collection properties made through American Express Travel

Yes No
Lounge access

Access to the American Express Global Lounge Collection including Centurion Lounges, Delta Sky Clubs when flying same-day Delta flights and Priority Pass Select, Airspace and Escape lounges (enrollment required)

Yes Yes
Uber credit 

Up to $15 in credit to use on Uber rides or Uber Eats orders, with an additional up to $20 for the month of December

Yes No
Clear membership credit

Up to $179 annual statement credit for a Clear membership (enrollment required)

Yes Yes
Digital entertainment credit

Up to $20 monthly statement credits applicable only for Audible, The New York Times, SiriusXM and Peacock (enrollment required)

 

Yes No
Equinox credit

Up to $25 monthly statement credits to select Equinox memberships or a digital subscription to Equinox+ fitness app (enrollment required)

Yes No
Airline fee credit

Up to $200 annual statement credit which covers baggage fees as well as other incidental charges (enrollment required) 

Yes Yes
Dell credit 

Up to $100 on U.S. Dell purchases between January and June and another credit for up to $100 off between July and December (enrollment required)

No Yes
Saks Fifth Avenue credit

Up to $50 statement credit on Saks Fifth Aveune purchases between January and June and another credit for up to $50 between July and December (enrollment required)

Yes No
Annual fee $695 (see rates & fees) $595 (see rates & fees)

Welcome offer

Each card comes with a generous welcome offer, but the minimum spend required to earn the bonus is where they really differ. You can earn the full 100,000 Membership Rewards points after spending just $6,000 on the Amex Platinum, but the Business Platinum requires a much steeper minimum spend of $15,000 to earn its 100,000-point bonus.

Based on TPG’s valuation of Membership Rewards points at two cents each, the Platinum bonus is worth $2,000. In contrast, the Business Platinum bonus is worth $2,000, making them some of the most valuable offers on the market.

However, some TPG readers have been targeted for an up-to-125,000-point welcome offer on the personal Amex Platinum by using the CardMatch tool (note that offer is subject to change at any time).

Winner: Amex Platinum

delta-wing-airplane-view-mountains-window-landscape
No matter which card you choose, the welcome offer 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 Amex Travel. Still, the personal Amex Platinum also earns 5x on airfare purchased directly with airlines and airfare purchased with American Express Travel over the phone (up to $500,000 per calendar year).

Plus, new cardholders can earn a generous 10 points per dollar on eligible purchases at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first six months of card membership.

(Photo by Thomas Barwick/Getty Images)

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 1.5 points per dollar, up to 1 million extra points per year.

Winner: Amex Platinum

Related: Redeeming American Express Membership Rewards for maximum value

Travel and lifestyle perks

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

The 2021 updates added more benefits to both the personal and business variants of the Platinum.

Benefits offered to both cards

Enrollment required for select benefits.

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

Waldorf Astoria Maldives. (Photo by Brian Kelly/The Points Guy)

Major differences with credits

There are several major differences when it comes to credits with these two cards.

First, the consumer Amex Platinum offers these exclusive perks.

Perk  Annual amount   Notes
Prepaid hotel booking credit Up to $200 Statement credits valid on prepaid bookings at Fine Hotels + Resorts or The Hotel Collection properties made through American Express Travel
Uber credit Up to $200 Up to $15 in credit to use on Uber rides or Uber Eats orders, with an additional up to $20 for the month of December
Saks Fifth Avenue credit Up to $100 Up to $50 to use January through June and $50 to use July through December
Digital entertainment credit Up to $240 $20 monthly statement credits and applicable only for Audible, The New York Times, SiriusXM and Peacock
Equinox credit Up to $300 $25 monthly statement credits to select Equinox memberships or a digital subscription to Equinox+ fitness app

Meanwhile, the Business Platinum card has the following exclusive perk:

Perk  Annual amount   Notes
U.S. Dell credit Up to $200 Up to $100 to use January through June and $100 to use July through December


Winner:
This one will depend on where you shop the most. The Business Platinum’s Dell credits are nothing to sneeze at, but the winner will likely go to the personal Platinum for most.

Redemption values

American Express Membership Rewards points are 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.

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.

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, you can expect to get even more value out of these points.

Winner: Tie

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

A case for the Amex Platinum

If you’re looking for a premium 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.

While there are numerous credits on each of these cards, the personal Platinum comes out on top with a whopping eight credits (either monthly, annually, bi-annually or in the case of Global Entry credit, every four years). All of those credits help take the sting out of the card’s $695 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).

Apply here for the Amex Platinum.

Amex Centurion Lounge. (Photo by Zach Griff/The Points Guy)

A case for the Business Platinum

For small-business owners, the decision isn’t quite so simple. The Business Platinum card currently has a welcome offer of 100,000 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.

Also, remember that the annual fees differ by $100, with the Amex Platinum carrying a $695 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 both 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 $1,300 in total fees.

Apply here for the Amex Business Platinum card.

Additional reporting by Ethan Steinberg. 

Featured image by The Points Guy.

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

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.