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Business Platinum Card from American Express Review 2024: Is It Worth It?

Dec 10, 2024The Business Platinum Card from American Express is loaded with travel perks and earns 1.25 reward points per eligible $1 spent.
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The metallic Business Platinum Card® from American Express, also called the Amex Business Platinum, is chock-full of enticing travel perks and features an uncomplicated rewards structure for everyday spending.

Annual fee$799
Regular APRVaries
Rewards rate1.25x Points
APPLY NOW
on American Express' website

Business Platinum Card® from American Express full review

The Business Platinum Card® from American Express is a rewards credit card for small businesses. It earns 1.25 American Express Membership Rewards points for each $1 spent on nearly everything, except fees, interest and cash equivalents.

Benefits of the Business Platinum Card® from American Express

The Business Platinum Card® from American Express has plenty going for it, including airport lounge access, business management tools, hotel upgrades, complimentary airport transfers at certain airports, sweeping travel insurance and more. Plus, small businesses can take advantage of flexible repayment via interest-free periods of up to 55 days and the option to break your balance into due-in-full and carried-balance categories.

Drawbacks of the Business Platinum Card® from American Express

The Business Platinum Card® from American Express does not have accelerated earn rates for specific spending categories, which may make it more challenging to rack up points. And despite its robust insurance offerings, there are coverage gaps: the card’s emergency medical insurance doesn’t cover people over the age of 65. But the biggest drawbacks may be its steep annual fee of $799 and the 30% APR applied to due-in-full balances that aren’t paid in full each month.

Who should get the Business Platinum Card® from American Express?

The Business Platinum Card® from American Express is well-suited for business owners who want a card with flexible repayment options, rewards on everyday spending and an extensive suite of travel benefits and insurance coverage. There’s wiggle room in the Business Platinum Card® from American Express’s spending limit and repayment options, and the card comes with a respectable lineup of travel perks and insurance. The card also earns a straightforward 1.25 reward points for every $1 spent. It’s likely most useful for business owners who frequently travel for work, who can make the most of the travel perks and benefits.

Is the Business Platinum Card® from American Express worth it?

Whether the Business Platinum Card® from American Express makes sense depends on your business’s needs when it comes to spending and travel. The Business Platinum Card® from American Express has a $799 annual fee, so ideally, you can squeeze at least this much value from the card annually to make carrying it worthwhile. Beyond its welcome offer, the card comes with airport lounge access, hotel freebies, car rental discounts, comprehensive insurance and more. We think the small businesses best positioned to take advantage of this card’s offerings are those that can make use of its travel extras. If your business doesn’t require you to travel much, there are likely better card options for you.

American Express customer ratings

  • Above average in customer satisfaction: American Express ranks second out of 13 issuers in J.D. Power’s 2024 Canada Credit Card Satisfaction Study.

  • Poor Trustpilot rating: 1.5 out of 5 possible stars based on more than 4,400 customer reviews at the time of this writing.

  • Poor Better Business Bureau rating: 1.09 out of a possible 5 stars, according to more than 500 customer reviews on the Better Business Bureau website, at the time of this writing.

  • Poor Customer Service Scoreboard rating: 36.46 out of a possible 200, based on over 330 ratings at the time of this writing.

Business Platinum Card® from American Express eligibility

Who qualifies for the Business Platinum Card® from American Express?

To qualify for the Business Platinum Card® from American Express, you must be:

  • A Canadian resident.

  • At least the age of majority for your province or territory.

While American Express doesn’t disclose this information on its site, there may be annual income requirements associated with the Business Platinum Card® from American Express.

Approximate credit score needed for approval

Canadian credit card issuers rarely disclose required credit scores, which makes it hard to know your chances of approval when comparing credit cards. We know that higher scores have better chances of approval — that’s true no matter what type of credit you’re applying for.

Want to learn more? Visit our “What Credit Score is Needed for a Credit Card?” page.

Business Platinum Card® from American Express rewards

Receive up to 150,000 American Express Membership Rewards points. Earn 110,000 Membership Rewards points after you charge $15,000 in net purchases to your card in your first three months of card membership. Plus, earn 40,000 points when you make a purchase between 14 and 17 months of card membership (limited-time offer, terms and conditions apply). Offer ends Jan 28, 2025.

Point value breakdown

The value of an American Express Membership Rewards point varies on the redemption method you choose, but you can expect to get around 0.6 to 11.52 cents per point, according to NerdWallet analysis.

  • 11.52 cents per point for hotel redemptions.

  • 1.74 cents per point for business class air fare redemptions.

  • 1.42 cents per point for economy class air fare redemptions.

  • 1 cent per point for statement credits.

  • 0.76 cents per point for gift cards.

  • 0.65 cents per point for merchandise.

How to apply for the Business Platinum Card® from American Express

  1. Click the “Apply Now” button from the Business Platinum Card® from American Express page on the American Express website.

  2. Review the card’s terms and conditions and select “Agree and Begin” to continue. 

  3. Enter your details, including your full name, date of birth, email address, business postal code, business phone number and residential address.

  4. Tell American Express about your business, including its industry, number of employees and annual revenue.

  5. Choose a four-digit PIN.

  6. Review the information you’ve supplied and submit your application.

Business Platinum Card® from American Express vs The Platinum Card® from American Express

Annual fee$799
Regular APR
Varies
Rewards rate
1.25x Points
Sign-up bonus
Up to 150,000 Points
Recommended credit score560-900
APPLY NOW
on American Express' website

Annual fee$799
Regular APR
Varies
Rewards rate
1x-2x Points
Sign-up bonus
Up to 140,000 Points
Recommended credit scoreN/A
APPLY NOW
on American Express' website

Reasons you might want a different card

The Business Platinum Card® from American Express may not be a practical fit for your small business if:

  • You don’t want to pay an annual fee of $799.

  • You don’t travel enough to enjoy the card’s travel extras.

  • You’d prefer a card that offers an accelerated rewards rate in specific spending categories.

Business Platinum Card® from American Express facts

Business Platinum Card® from American Express

Card type

Business credit card.

Fees and interest rates

Annual fee

$799

Additional cards

$50 - $199

Regular/purchase APR

N/A

Cash advance fee

$0.75 or 3% of the advanced funds, whichever is greater.

Foreign transaction fee

2.5% of the transaction amount.

Rewards and benefits

Intro offer

Earn 110,000 Membership Rewards® points after you charge $15,000 in net purchases to your Card in your first 3 months of Cardmembership. Offer ends Jan 28, 2025. Plus, earn 40,000 points when you make a purchase between 14 and 17 months of Cardmembership. Offer ends Jan 28, 2025.

Reward earn rates

Cardholders earn 1.25 American Express Membership Rewards points for each $1 spent on eligible everyday purchases.

Other perks

  • No pre-set spending limit. Card purchases are approved based on your credit and account history.

  • Flexible repayment with up to 55 interest-free days. Take advantage of an extended interest-free grace period to pay the minimum, more or total amount owing.

  • Handy business management tools. Tap into expense management reports, account alerts, billing information and more.

  • Sweeping airport lounge access. Step out of the airport hubbub and into Plaza Premium, Priority Pass, Delta Sky Club and American Express Global Lounge Collection lounges, including the illustrious Centurion Lounge.

  • Lavish hotel extras. Travel in luxury with complimentary daily breakfasts, early check-in, late check-out, room upgrades, and food, beverage and spa credits at partner hotels.

  • Pearson Airport perks. Enjoy complimentary valet service and discounted parking at Toronto Pearson Airport.

  • Less expensive airfare. Receive discounts on qualifying first, business and premium economy international airline tickets.

  • Complimentary airport transfers. Get to or from the airport with up to six one-way transfers annually in select Canadian and international cities.

  • Car rental upgrades and discounts. Save on vehicle upgrades, get rate discounts and skip the reservation counter when you book a rental vehicle through participating Hertz and Avis locations.

  • Amex Experiences™. Enjoy special access to food, theatre and entertainment events curated for Amex Platinum cardholders.

  • Amex Front of the Line. Nab tickets to popular events before they go on sale to the general public.

Insurance coverage

Travel accident

Up to $500,000.

Travel medical

Up to $5 million per insured person per trip.

Trip cancellation

Up to $3,000 for all insured persons combined.

Trip interruption

Up to $6,000 for all insured persons combined.

Flight delay

Up to $1,000 for necessary accommodations, restaurant expenses and sundries.

Baggage delay

Up to $1,000 for essential clothing and sundry items.

Lost or stolen baggage

Up to $1,000 of coverage per trip for all insured persons.

Hotel burglary

Up to $1,000 of coverage for personal items (excluding cash).

Rental car theft/damage

For up to 48 days.

Extended warranty

Up to one additional year.

Purchase protection

90 days.

Employee Card Misuse Protection

Up to $100,000 of coverage in the event of unauthorized charges due to employee card misuse.

Methodology

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NerdWallet Canada rates credit cards according to overall consumer value and their suitability for specific kinds of consumers. Factors in our evaluation methodology include annual and other fees, rewards rates, the earning structure (for example, flat-rate rewards versus bonus categories), redemption options, bonus offers for new cardholders, introductory and ongoing APRs, and other noteworthy features such as airline or hotel perks or the ability to transfer points.

Frequently asked questions


American Express doesn’t publicly disclose annual income requirements for its Business Platinum Card® from American Express. You must provide your annual income during the application process, which may be a factor during card approval.

American Express has three Platinum credit cards in its roster: The Platinum Card® from American Express (aka Amex Platinum), Business Platinum Card® from American Express (aka the Amex Business Platinum) and Amex Corporate Platinum.