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How to achieve the Amex Business Platinum’s spending requirement to earn 150,000 points

Nov. 25, 2022
9 min read
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Credit card welcome bonuses are the fastest and easiest way to fund your upcoming vacation for (almost) free. They’re often relatively effortless to earn and they can be worth thousands of dollars. However, some of the most lucrative bonuses require you to meet high spending requirements.

The Business Platinum Card® from American Express is currently offering a TPG-exclusive welcome bonus on TPG of 150,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Platinum Card within the first three months of cardmembership. If your small business engages in high spending, this shouldn’t be a problem. For the rest of us, we might need a strategy to achieve this tempting bonus.

Plain and simple, when you’re trying to meet a minimum spending requirement, you should funnel all your spending through a single card. If you still don’t think you’ll be able to achieve the spending requirement, this post will help you get creative.

Why it’s worth getting the Amex Business Platinum

RYAN PATTERSON/THE POINTS GUY

The Amex Business Platinum is one of the most benefits-rich cards on the market — particularly with annual statement credits worth over $1,000. Here’s what you’ll get for its $695 annual fee (see rates and fees):

  • Up to $400 in annual statement credits on all U.S. Dell purchases, up to $200 semiannually.*
  • Up to $200 in annual airline fee credits on charges on one selected airline.*
  • Up to a $100 statement credit for either Global Entry or TSA PreCheck application every four years (or 4.5 years for PreCheck).
  • Amex Global Lounge Collection, which gives you access to airport lounges around the world — including Amex Centurion Lounges.
  • Up to $360 in annual statement credits on Indeed hiring and recruiting products and services (up to $90 per quarter).*
  • Up to $150 in annual statement credits on select Adobe purchases, such as Adobe Creative Cloud and Acrobat Pro DC.*
  • Up to $120 in annual statement credits for purchases made directly from any U.S. wireless telephone provider (maximum of $10 per month).*
  • Up to $189 in annual statement credits toward Clear, a trusted traveler program that expedites airport security.*
  • Amex Fine Hotels + Resorts, which provides elite benefits such as a room upgrade, free breakfast, late checkout, etc., with an extensive collection of luxury hotels.
  • Cellphone protection, with a maximum of $800 per claim and a limit of two approved claims per 12-month period. Note that a $50 deductible will apply.#
  • Access to the Cruise Privileges Program and the International Airline Program.
  • Upgrade with Points to request an airline ticket upgrade on select airlines.
  • A 35% rebate when you Pay with Points for a first- or business-class ticket on any airline or an economy ticket on one airline of your choice (up to 1 million points per calendar year).

*Enrollment is required for some benefits, and terms apply.
#Eligibility and benefit levels vary by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by New Hampshire Insurance Company, an AIG Company.

Here are the earning rates for the card:

  • 5 points per dollar when purchasing flights and prepaid hotel rooms through Amex Travel.
  • 1.5 points per dollar on electronic goods retailers and software cloud service providers, shipping providers, construction materials and hardware supplies.**
  • 1.5 points per dollar for all purchases of $5,000 or more.**
  • 1 point per dollar on other eligible purchases.
  • Terms apply.

**The 1.5 earning rates are subject to a combined cap of $2 million in eligible U.S. purchases per calendar year.

You can read our full Amex Business Platinum review to learn more about these benefits.

Current Amex Platinum welcome bonus

The Amex Business Platinum is currently offering a TPG exclusive of 150,000 Membership Rewards points after you spend $15,000 on eligible purchases with the card within the first three months of cardmembership.

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TPG estimates Amex points value to be 2 cents each. That makes this bonus worth $3,000 in travel — and potentially significantly more if you know how to redeem American Express Membership Rewards for maximum value.

Strategies for meeting minimum spending

If that minimum spending requirement of $15,000 within the first three months looks daunting, here are some creative ways you might be able to hit it — while remaining financially responsible, of course.

ANNA EFETOVA/GETTY IMAGES

Holiday gifts

Lots of points and miles enthusiasts open a new card or two before the holiday season. That’s because they know they’ll have a large bill for travel, gifts and other holiday-related expenses. If you know you’ll be spending a lot of money soon, you may as well alleviate the sting with a massive welcome bonus.

Prepay expenses

This may fail to move the needle significantly with a spending requirement of $15,000, but there are plenty of bills that you can pay in advance. Things like utilities, car or renters insurance may allow you to overpay. If it’s within your means, you might want to pay your utilities and other bills a few months in advance if it helps you meet the spending requirements for this card.

Add authorized users

The Amex Business Platinum is a small-business card. If you’ve got employees, help them help you by adding them as authorized users — at least during the first three months. Their spending will count toward satisfying the $15,000 spending requirement.

Authorized users on this card don’t actually have to be employees. You can add friends and family members, as long as you trust them. Remember, you are responsible for paying off any balances they rack up as the primary cardholder.

Pay taxes

Depending on the nature of your small business, the quarterly or yearly taxes you owe may alone fulfill your $15,000 minimum spending requirement. You can often pay state and property taxes with a card via ACI Payments, Inc. You can also take a glance at the list of IRS-approved tax payment service providers for more options.

Just note that paying taxes by card will draw some unwanted fees. For example, PayUSAtax currently charges 1.96% of your transaction amounts. If you were to pay $15,000 in taxes with this method, you’d pay $294 in fees. That sounds steep, but to earn a welcome bonus worth $3,000 (according to TPG valuations), it could be well worth it — especially if you don’t think you can hit the Amex Business Platinum minimum spending requirement any other way.

Pay rent

Some apartment buildings accept a card as payment for rent. This can be a useful aid for those struggling to meet a high minimum spending requirement, as this is likely your single biggest monthly expense. Some landlords may even allow you to prepay for future months of rent.

Paying for rent with a card almost always will incur a convenience fee and/or a transaction fee. That’s why you should avoid this method unless there’s a welcome bonus in your crosshairs. However, some real estate companies waive the fee. If you’re one of those lucky tenants, take full advantage.

Use Plastiq

You can pay more expenses by card than you think. Whether it’s a car payment, tuition or daycare — or even if you rent from a landlord that doesn’t accept cards — you can use a service called Plastiq. In short, Plastiq will charge your card for a stipulated amount and mail a check to whomever you desire.

There are two caveats:

  • You can’t pay your mortgage via Plastiq with an American Express card.
  • You’ll pay a fee for using Plastiq (2.85% at the time of writing).

You can read our review of how Plastiq works for more details.

Related: Your vendor doesn’t accept credit cards — what now?

Considerations

Don’t overspend

A trap into which you may unwittingly fall is overspending to achieve a welcome bonus. If you don’t remain strict with your budget, you might later realize that you spent more to earn that valuable bonus than it was worth in the first place.

Don’t carry a balance

Overdue balances are the arch-nemesis of card rewards. Interest charges and late fees will soon negate any miles and points you may accrue from spending if you carry a balance month to month. You could end up spending a small fortune in interest if you don’t pay off your bill in time and in full every month. With the Amex Business Platinum, you could even find your account frozen until you pay off any amounts owed, so be extra careful.

Wait to apply at the right time

Again, if you know you’ve got a big purchase in the near future, coordinate that with the Amex Business Platinum’s minimum spending window so that the purchases hit during its three-month time frame. If your big purchases aren’t within the next three months, there’s no harm in waiting to open the card.

Spend organically first

Whether or not you’re able to spend the full $15,000 organically, it’s worth holding off on utilizing any fee-laden methods above until necessary. Perhaps in the first two months of account opening, you were able to spend $1,000 more than you thought. You’ve then saved potentially $28-plus in fees that you would have otherwise spent.

Bottom line

A $15,000 spending requirement isn’t for everyone. But if you can swing it, this TPG-exclusive 150,000-point Amex Business Platinum welcome offer is currently one of the best on the market.

If you can’t achieve the spending organically, you could:

  • Use the card for upcoming holiday purchases.
  • Prepay expenses into the future, such as insurance, car payment and rent
  • Add authorized users to your card.
  • Pay taxes with your card.
  • Use Plastiq to pay bills that don’t normally accept cards with your Amex Business Platinum.

Official application link: Amex Business Platinum 150,000-point offer

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

Additional reporting by Emily Thompson.

Featured image by MORSA IMAGES/GETTY IMAGES
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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TPG featured card

TPG Exclusive Offer
TPG Exclusive Offer
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
Go to review

Rewards

1 - 5X points
5XGet 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com
1.5XEarn 1.5X points on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year
1X1X points for each dollar you spend on eligible purchases.

Intro offer

Earn 150,000 points120,000 points
The Points Guy Exclusive Offer: Earn 150,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Platinum Card® within the first 3 months of Card Membership.

Annual Fee

$695

Recommended Credit

670-850
Good, Excellent
Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Why We Chose It

It's hard to find a card that competes with the mile-long list of benefits that come with the Amex Business Platinum. While it's certainly not the card for the average consumer, a business owner with tons of expenses -- especially related to travel -- will find this card incredibly valuable. This card is similar to the consumer version that Amex offers, but with more business-oriented perks around statement credits and earning rates that are a better fit for business owners.

Pros

  • An up to $100 credit for Global Entry or TSA PreCheck application fee every four to five years
  • Up to $400 annual credit for eligible U.S. Dell purchases (enrollment required)
  • Gold status at Marriott and Hilton hotels (enrollment required)
  • Access to the Fine Hotels & Resorts program and Hotel Collection
  • Extended warranty protection
  • International Airline Program and Cruise Privileges Program

Cons

  • Steep annual fee
  • Difficulty meeting $15,000 welcome offer for smaller businesses
  • Limited high-bonus categories outside of travel
  • The Points Guy Exclusive Offer: Earn 150,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Platinum Card® within the first 3 months of Card Membership.
  • Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com, and 1X points for each dollar you spend on eligible purchases.
  • Earn 1.5X points (that’s an extra half point per dollar) on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
  • Unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
  • $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year for checked baggage fees, lounge day passes, and more at one selected airline.
  • $189 CLEAR® Credit: Use your Card and get up to $189 back per year on your CLEAR® membership. CLEAR® is available at more than 50 U.S. airports and stadiums.
  • The American Express Global Lounge Collection® can provide an escape at the airport. With more than 1,400 airport lounges across 140 countries and counting, you have more lounge location options than any other credit card on the market as of 9/2021.
  • $695 Annual Fee.
  • Terms Apply.
Apply for The Business Platinum Card® from American Express
at American Express's secure site
Terms & restrictions apply. See rates & fees
TPG Exclusive Offer
TPG Exclusive Offer
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
Go to review

Rewards Rate

5XGet 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com
1.5XEarn 1.5X points on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year
1X1X points for each dollar you spend on eligible purchases.
  • Intro Offer
    The Points Guy Exclusive Offer: Earn 150,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Platinum Card® within the first 3 months of Card Membership.

    Earn 150,000 points
    120,000 points
  • Annual Fee

    $695
  • Recommended Credit
    Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

    670-850
    Good, Excellent

Why We Chose It

It's hard to find a card that competes with the mile-long list of benefits that come with the Amex Business Platinum. While it's certainly not the card for the average consumer, a business owner with tons of expenses -- especially related to travel -- will find this card incredibly valuable. This card is similar to the consumer version that Amex offers, but with more business-oriented perks around statement credits and earning rates that are a better fit for business owners.

Pros

  • An up to $100 credit for Global Entry or TSA PreCheck application fee every four to five years
  • Up to $400 annual credit for eligible U.S. Dell purchases (enrollment required)
  • Gold status at Marriott and Hilton hotels (enrollment required)
  • Access to the Fine Hotels & Resorts program and Hotel Collection
  • Extended warranty protection
  • International Airline Program and Cruise Privileges Program

Cons

  • Steep annual fee
  • Difficulty meeting $15,000 welcome offer for smaller businesses
  • Limited high-bonus categories outside of travel
  • The Points Guy Exclusive Offer: Earn 150,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Platinum Card® within the first 3 months of Card Membership.
  • Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com, and 1X points for each dollar you spend on eligible purchases.
  • Earn 1.5X points (that’s an extra half point per dollar) on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
  • Unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
  • $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year for checked baggage fees, lounge day passes, and more at one selected airline.
  • $189 CLEAR® Credit: Use your Card and get up to $189 back per year on your CLEAR® membership. CLEAR® is available at more than 50 U.S. airports and stadiums.
  • The American Express Global Lounge Collection® can provide an escape at the airport. With more than 1,400 airport lounges across 140 countries and counting, you have more lounge location options than any other credit card on the market as of 9/2021.
  • $695 Annual Fee.
  • Terms Apply.