American Express Platinum Business Card

Roland Bleyer

Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. Ask Roland a Question about this card.

The Big Review: American Express Business Platinum

Designed to reward businesses that want to maximise their points-earning potential while enjoying extensive travel features and practical business tools, the American Express Platinum Business Card now delivers a range of new and enhanced extras, with up to 150,000 bonus Membership Rewards points on offer to new cardholders.

Known for its exceptional service and excellent travel and lifestyle benefits, the American Express Platinum Business Card has further elevated its membership experience with all-new extras such as Accor Plus membership, Dedicated Account Management and 55 cash flow days, while enhancing existing features by adding Hotel Elite tier status, and access to more than 1,200 airport lounges across 130 countries.

• BONUS OFFER: Earn 150,000 bonus Membership Rewards points
• NEW FEATURE: Accor Plus membership, valued at $399 per year
• NEW FEATURE: Dedicated Account Management
• NEW FEATURE: 55 cash flow days
• ENHANCED FEATURE: Hotel Elite tier status - Hotel Elite Status partners include Radisson Hotel Group, Marriott Bonvoy™, Shangri-La and Hilton
• ENHANCED FEATURE: Access to more than 1,200 airport lounges across 130 countries with the Global Lounge Collection for primary and supplementary cardholders
• Premium digital subscription to the Australian Financial Review
• More than $700 included average value with every Fine Hotels and Resorts stay
• Complimentary Travel Insurance for both primary and supplementary cardholders
• Earn 2.25 points per $1 spent excluding government spend in Australia where you’ll earn 1 point per $1 spent
• Flexible redemption options, including Qantas frequent flyer
• Platinum Concierge service
• Up to 99 additional cardholders at no extra cost
• To be eligible for the bonus points offer, you must apply by 7 October 2020 and be approved, and spend $5,000 on your card within 3 months of card approval.
• Offer is only available to new American Express cardholders. Anyone who has held any other card issued by American Express within the previous 18 months is ineligible for this offer.
• Annual fee: $1,750

This Card: The Lowdown

Aimed at small and medium-sized businesses, the American Express Platinum Business Card is the ideal option for business owners who want to earn more points on travel and business expenses, while also benefiting from an extensive range of travel and lifestyle features, and a range of useful business tools.

As it is a charge card, not a credit card, the American Express Platinum Business Card has no pre-set spending limit as long as the balance is paid in full each month. Businesses can apply for up to 99 supplementary cardholders on the account, with 55 days to pay. This can offer a flexible cashflow arrangement to businesses that want an alternative to a business credit card.

Digging Deeper

With the basics covered, it’s time to dig a little deeper into what’s on offer with the American Express Platinum Business Card, so you can decide whether this card is right for you.

This Card: As a Rewards Card

Currently on offer to new cardholders, the American Express Platinum Business Card provides 150,000 Membership Rewards points after a minimum card spend of $5,000 within the first 3 months from card approval.

Helping to offset that annual fee – in the first year, at least – these bonus points could get you to London and back, with a return Economy Classic Flight Reward from Sydney to London (plus taxes, fees and carrier charges of $630.84).

To be eligible for this offer, you must apply and be approved, and then make the minimum $5,000 spend in the first 3 months. After that spend criteria has been met, the 150,000 bonus Membership Rewards points will be credited to your account within 8-10 weeks.

However, if you currently hold or have previously held any other card issued by American Express (not including bank-issued American Express cards), you will not be eligible for the offer.

Earning Points

As a Platinum Business cardholder, you can earn points on all your Business Card spend:

• Earn 2.25 points per $1 spent excluding government spend in Australia where you’ll earn 1 point per $1 spent

Spending Points

What attracts many cardholders to the American Express Platinum Business Card is the flexibility of its rewards program. Used to reward yourself, your clients, your employees or to reinvest within your business, the Membership Rewards points you earn can be redeemed within a number of categories.

If you want to earn points within a certain frequent flyer program, the Membership Rewards points you earn can be transferred to Qantas, Asia Miles or KrisFlyer, and many more, with the on-demand transfer of your points to the frequent flyer program of your choosing, at your request.

To give you an idea of redemption value, Membership Rewards points can be converted to Qantas Points. Of course, to transfer your Membership Rewards points to a frequent flyer program, you must be a member of that frequent flyer program, and you must also be enrolled in Membership Rewards Ascent Premium.

Aside from frequent flyer redemption, there are many other redemption options open to you as a cardholder. You can use your points for travel, booking directly through American Express Travel Online. Here, you can book your next flight, hotel, cruise or car rental using your points to pay, while enjoying no restrictions, no block-out dates, and no booking fees (T’s & C’s apply).

You can also save money on accommodation when booking with hotel partner programs, including Radisson Hotel Group, Marriott Bonvoy™, Shangri-La and Hilton. You can use your Membership Rewards points to pay when booking on Webjet, or a combination of points and pay when booking at Helloworld Travel.

You may also choose to boost your cashflow by paying off your eligible purchases with your American Express Membership Rewards points or a combination of points and payment, or you could enjoy some retail therapy using your points to shop at David Jones.

This Card: As a Travel Rewards Card

For most businesses, the American Express Platinum Business Card sells itself on its travel features. Here are some of the travel extras you can benefit from as a card member.

Accor Plus Membership

As a new feature for cardholders, the American Express Platinum Business Card is now offering Accor Plus membership, valued at $399 per year. Perfect for business travel, this valuable feature provides a complimentary night’s accommodation each year, up to 50% off dining within the Asia Pacific region, 15% off beverages within Asia, plus Silver Status in Le Club Accorhotels (only available to the primary cardholder, not supplementary cardholders).

Lounge Access

This enhanced feature now offers access to more than 1,200 airport lounges across 130 countries within the Global Lounge Collection. American Express have added access to an additional 400 lounges in the past five years, including the American Express Lounges at Sydney and Melbourne International Airports, and The Centurion Lounge at Hong Kong International.

Happily, this feature is available to both primary and supplementary cardholders, so all cardholders travelling on business can enjoy access to selected airport lounges.

Luxury Hotel Benefits

Another enhanced feature now offered provides Hotel Elite tier status to cardholders, which includes Hilton Honors Gold Status, in addition to existing access to the Small Hotels of the World and Fine Hotels and Resorts Programs.

With the American Express Platinum Business Card, you can benefit from over $700 of included average value with every Fine Hotels and Resorts stay. These extras can include:

• An on-property benefit, often $100 USD in credit per stay
• 12pm check-in
• Room upgrade, if available
• Free breakfast
• 4pm late checkout
• Free Wi-Fi

Travel Insurance

The American Express Platinum Business Card provides complimentary travel insurance that extends not only to primary cardholders, but to supplementary cardholders as well. Another unusual feature of this card is that you don’t need to use the card for the travel purchase to be covered, you’re covered simply because you have the card.

In terms of travel-related insurance, this card offers Travel Insurance and Travel Inconvenience Cover, which will cover you for flight delays, missed connections and delayed luggage. It’s also nice to know that alongside supplementary cardholders, your spouse and dependent children (up to age 24) are also covered.

Of course, you should always check a credit card’s insurance PDS for terms, conditions and exclusions before you travel.

American Express Travel

While American Express Travel is available to all American Express cardholders, with the American Express Platinum Business Card in your wallet, you will receive additional value. For example, using American Express Travel, you will have access to competitive pricing on Business Class fares, and a wide range of discounts that may not be publicly available elsewhere.

Discounts are primarily seen across the card’s partner airlines, including British Airways, Delta, Emirates, Etihad, Singapore Airlines and South African Airways. You can also benefit from exclusive benefits from partner hotel chains, such as onsite extras to enjoy during your stay.

Golf Club Membership

If you enjoy a round or two of golf, you will no doubt enjoy complimentary membership to the elite Preferred Golf Club, which boasts more than 85 overseas world-renowned golf resorts and hotels.

This Card: Extras on Offer

Yes, there is still more on offer from the American Express Platinum Business Card. Aside from the new feature, Dedicated Account Management, you can also enjoy 55 cash flow days (extended from 51 days previously), which may make managing your business cashflow somewhat easier.

There is also a Platinum Business Concierge service available 24/7, acting as your ‘personal assistant’ and offering access to premium services. In terms of business tools, the card provides transaction data feeds to MYOB accounting software, as well as tools to easily keep track of expenditure using Quicken, MYOB® or Microsoft® Excel, and American Express Access Line.

As for insurance covers, the card offers Monthly Business Expenses Insurance, offering protection in the event you're temporarily unable to run your business, to a maximum of $12,000, alongside Refund Protection and Purchase Protection, and Vehicle Loss/Damage Waiver providing cover for loss or damage to your rental vehicle up to $125,000.

On top of all that, you have access to Platinum's By Invitation Only program’s range of exceptional events and experiences not available to the general public, plus extras such as emergency card replacement, and American Express’s award-winning support.

This Card: The Essentials

One of the main factors to consider on the American Express Platinum Business Card is its annual fee. At $1,750 per year, this is not an insubstantial amount. However, as with any new card consideration, you need to think about the value of the features on offer, and whether they are worth more to you than the amount you pay out in annual fees.

As it is a charge card, not a credit card, you also need to be able to deal with it as such. You have no pre-set spending limit, but you have to be able to pay back the entire expenditure each month. It’s also worth noting that having no pre-set spending limit does not mean unlimited spending. Your purchases will be approved on a variety of factors, including your credit records and financial resources, your spending patterns and your payment history.

As for eligibility, you must be:

• Over 18 years of age,
• Have a good credit history and no payment defaults,
• Be an Australian citizen or permanent resident,
• Earn a personal gross (pre-tax) annual income of $75,000 or more,
• Registered for GST,
• Have a valid ABN.

Decision Time

There’s no denying the fact that the American Express Platinum Business Card has an abundance of features. As a new cardholder, you can benefit from 150,000 Membership Rewards points, while enjoying a high points earn, backed by an incredibly flexible rewards program. American Express has added some nice new features to card, while enhancing others, making this a very valuable card, not just for primary cardholders, but for supplementary cardholders as well.