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The The Platinum Card® from American Express has a $550 annual price — one of many highest amongst all private bank cards — however in case you journey continuously you may get sufficient worth for it to be worthwhile. Over the previous few years, Amex has added new advantages and perks to each the Amex Platinum and the Learn extra on Personal Finance Insider (with a $595 annual price) to maintain them aggressive with different premium rewards playing cards.
While the non-public and enterprise variations used to have just about equivalent advantages and phrases (with just a few exceptions), they’re not practically equivalent. While they do have many overlapping advantages, there are some key variations. Keep studying to see how the Platinum Card and the Amex Business Platinum Card differ, and to decide if either is right for you.
We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.
|Platinum Card||Amex Business Platinum Card|
|Welcome bonus||60K points after spending $5,000 in the first three months of account opening||75K points after spending $15,000 im the first three months of account opening|
5x points on flights booked directly with the airline or Amex Travel
5x points on prepaid hotels booked through Amex Travel
1 point per dollar on everything else
5x points on flights and prepaid hotels booked through Amex Travel
1.5x points on purchases of $5,000 or more*
1 point per dollar on everything else
|Annual airline fee credit||Up to $200||Up to $200|
|Airport lounge access||Yes||Yes|
|Global Entry/TSA PreCheck application fee credit||Yes||Yes|
Up to $200 in annual Uber credits
Up to $100 in annual Saks credits
Gold elite status with Hilton and Marriott
35% Pay With Points rebate for booking flights through Amex
Up to $200 in annual Dell credits
Gold elite status with Hilton and Marriott
|Limited-time COVID-19 statement credits||
Up to $320 in statement credits for select streaming and wireless telephone services purchased directly from US service providers (through December 2020)
Up to $320 in statement credits for wireless telephone services purchased directly from US service providers and shipping purchases in the US (through December 2020)
Up to $200 in additional annual Dell credits
*Up to 1 million additional points per year
Platinum Card: The personal Platinum Cardoffers new members 60,000 Membership Rewards points when they spend $5,000 in the first three months of card membership. Points can be redeemed for various products, to book travel through Amex, or, representing one of the best options, transferred to various airline frequent flyer partners.
Keep in mind that that valuation is subjective and an “average” of all of the different ways you can use points. Membership Rewards points are worth a different amount depending on whether you use them for shopping, purchase travel through Amex, or transfer them.
Amex Business Platinum Card: The Amex Business Platinum Card offers a bigger bonus of 75,000 points after you spend $15,000 in the first three months of account opening.
Obviously, that’s a lot of money to spend in three months. Unless you own a a small-to-medium-sized business and realistically expect to spend $25,000 in a single quarter, the personal Platinum Card might be a better option for you.
Both cards offer a whopping 5 points per dollar spent on flights booked through Amex Travel — the personal version of the Platinum Card also earns 5x points on flights booked directly through the airline — and 1 point per dollar on everything else.
However, the Amex Business Platinum Card offers a 50% point bonus on purchases of $5,000 or more, meaning you’ll earn 1.5x points per dollar, up to 1 million extra points per year (after that, the rate drops back to 1x point per dollar for the rest of the year).
Read more: Amex Platinum card review and the Amex Business Platinum card review
Previously, both versions of the Platinum Card had the same $450 annual fee. However, the fee on the personal card was raised to $550 in 2017, and more recently the Amex Business Platinum Card’s fee increased to $595.
Uber credit on the personal Amex Platinum
The personal Platinum Card offers up to $200 a year in Uber credits. The credit is broken down by month: You’ll get a monthly $15 credit, with an extra $20 in December (for a total of $35 that month). That’s up to $200 in credits each year in exchange for the $100 annual fee increase — definitely a win for consumers. The Amex Business Platinum Card doesn’t have an equivalent Uber credit.
Saks credit on the personal Amex Platinum
In mid-2018, Amex added a Saks statement credit to the personal Platinum card. Each year, cardholders can get up to $100 back in the form of statement credits for Saks Fifth Avenue purchases. This is divided into two $50 credits: You’ll get up to $50 toward Saks purchases made with the Platinum Card from January to June, and another $50 toward those purchases from July through December.
60,000 points after your spend at least $5,000 in your first 3 months of account opening
35% factors rebate on the Business Platinum
This is an extremely priceless perk that is solely accessible with the Amex Business Platinum Card.
One of the methods to redeem Membership Rewards factors is by utilizing them to ebook flights, motels, cruises, or extra by means of Amex Travel. When you try this, factors are usually price 1 cent every.
However, when you’ve the Amex Business Platinum Card and use factors to ebook any flight on one airline that you simply pre-select — or enterprise or top notch flights on any airline — you may get 35% of your factors again (as much as 500,000 factors per calendar yr). Because reserving by means of Amex Travel is the simplest approach to make use of factors for flights, this represents an important choice to make use of fewer factors to get extra.
Dell credit score on the Business Platinum
While the Business Platinum card does not provide any assertion credit for Saks or Uber, it does provide as much as $200 in assertion credit yearly for US purchases with Dell.
This is split into two semi-annual credit of as much as $100. However, in gentle of the coronavirus pandemic, which has made it troublesome for cardholders to make use of many travel-related perks, Amex added as much as $200 in extra Dell credit in 2020.
Other limited-time advantages for the Platinum Card and the Amex Business Platinum Card embody assertion credit for choose streaming companies (on the non-public Amex Platinum) and wi-fi phone companies bought instantly from US service suppliers (on each playing cards).
75,000 Membership Rewards® factors after you spend $15,000 inside your first three months of account opening
Airline price credit score
Every calendar yr, the Platinum Card and the Amex Business Platinum Card provide as much as a $200 credit toward incidental fees on one airline (that you can choose at the beginning of each year). While it doesn’t cover tickets, it applies to a wide variety of charges and fees, such as checked bags, change fees if you need to change your flight, in-flight food and drinks, fees for traveling with a pet, airport lounge day passes (if you don’t already have complimentary access), and sometimes even things like seat assignments and extra legroom upgrade fees.
The best part of the airline credit is that because you get it each calendar year, not cardmember year, you could get it twice in your first year of having the card. Say you opened the card in February — you can earn the full $200 credit before the calendar year ends, then once the credit resets on January 1, get it again before your next annual fee posts, meaning you can get up to $400 in value from this credit each year.
Airport lounge access
Both cards offer identical access to airport lounges.
Lounges are exclusive areas where you can enjoy seats, an internet connection, food, drinks, and sometimes other amenities. Although lounges were traditionally reserved for first class and business class passengers, many are accessible to any traveler who holds either a lounge membership or certain credit cards — and the Platinum cards offer access to three different kinds of lounge.
The first type is Amex’s own proprietary Centurion lounges, located at nine airports in the United States — and in Hong Kong. These chic venues offer an oasis in the middle of the main terminal’s chaos, featuring comfortable seating, complimentary cocktails and food created by award-winning mixologists and chefs, respectively, and other amenities. Access to these lounges is limited to holders of the Amex Platinum or Amex Centurion cards.
Read more: I held off on opening the Business Platinum card until I discovered Amex Centurion lounges. This benefit alone is worth the annual fee to me.
If you’re flying with Delta and carry a Platinum card, you can also access any Delta Sky Club lounge. With more than 30 locations, Sky Clubs offer snacks, complimentary soft and alcoholic drinks (with more “premium” drinks available for purchase), fast Wi-Fi, and a place to unwind. Some locations also feature showers.
Finally, the Platinum Card from American Express comes with a Priority Pass membership. Priority Pass is a network of more than 1,200 airport lounges around the world. With the membership provided by your Platinum card, you and two guests can access any location (as long as there’s room) to enjoy free snacks, drinks, newspapers and magazines, showers, and more, all separate from the hustle and bustle of the main terminal. If you have an international version of the card, instead of the US version, be sure to double check the guest policy for your card’s Priority Pass benefit.
Global Entry/TSA PreCheck application fee credit
Both cards offer up to a $100 credit that you can use to apply for Global Entry or TSA PreCheck. The credit renews every four years, so it covers you when it’s time to reapply.
Gold status with Hilton and Marriott
When you hold either card, you’ll receive Gold elite status with Hilton hotels, as well as Marriott hotels, without having to meet any stay requirements. Elite status comes with benefits including more points earned on stays, early check-in and late check-out, room upgrades, and more.
Both cards also offer access to Amex’s exclusive Fine Hotels & Resorts program. When you book a stay at a participating hotel through Amex Travel, you’ll get benefits like even earlier check-in, a priority room upgrade, free breakfast during your entire stay, and a special amenity, such as a credit to use at the hotel bar or spa.
Like several other card issuers, Amex has made some adjustments to its card perks in light of the coronavirus pandemic. With cardholders largely unable to use the Platinum and Business Platinum card’s travel benefits, the following limited-time features are available through December 2020:
- Up to $320 in statement credits when you use the card for select streaming services and wireless telephone services purchased directly from US service providers (up to $20 each month from May to December)
Amex Business Platinum:
- Up to $320 in statement credits when you use the card for wireless telephone services purchased directly from US service providers and shipping purhases in the US (up to $20 each month from May to December)
- Up to $200 in additional statement credits for US purchases at Dell — for a total of up to $400 in statement credits for eligible purchases in 2020.
For most consumers, the personal Platinum Card offers a fantastic suite of premium travel perks and benefits, all of which add up to more than enough value to make up for the annual fee.
If you have a small business, there might be reasons to go for the Amex Business Platinum Card instead. Although you’ll give up the Uber credits, you’ll get perks like the points rebate when booking flights through Amex Travel, plus Dell statement credits. If your business regularly makes purchases of $5,000 or more — and you can put them on the card — or you think you can get value from the 35% points rebate, then the business card might be a better option.