Editor's Note: This post has been updated with the latest offer.
American Express UK offers two different types of its famous Platinum Card: a personal version and a business version. As its name suggests, theAmerican Express Platinum Business CardIt's an ultra-premium card for big-spending businesses and is packed with benefits.
For the right small business, this card can be an absolute no-brainer, especially with such a nice welcome bonus. Let's discuss the card and its many benefits.
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Who is this card for?
This card is marketed to businesses that can handle a high annual fee, are looking for great earning potential and lots of travel benefits and protections, as well as the wow factor when opening their wallet.
There is no minimum income requirement to be approved for this card, although it is marketed to companies with a lot of money and purchasing power.
You might be surprised at how broadly American Express defines "business." Your company must have a current account with a UK bank or building society, have a permanent home address in the UK, be at least 18 years of age and have no county court judgments. for non-payment of debt against you.
Welcome bonus and annual fee
American Express offers a welcome bonus of 40,000 Membership Rewards points after spending ÂŁ6,000 in the first three months of membership to the card.
based onLatest TPG reviews, the 40,000 Membership Rewards points you can earn as part of this welcome bonus are worth ÂŁ560.
There is an annual fee of ÂŁ595, which is the highest of any publicly advertised business credit card in the UK. This fee is not waived in the first year or in subsequent years. But there are plenty of benefits to help offset that hefty fee, including the welcome bonus, which is worth more than double the annual fee itself.
You must not have any American Express membership reward cards in the last six months to receive this bonus, and commercial cards are not affected bythe tough new restrictionsin the American Express UK welcome bonus.
This is a charge card (rather than a credit card), which has no spending limit, but you'll need to pay off the balance in full each month. The card is made of metal instead of the plastic you might be used to with other cards.
winner
Considering how expensive this card is, the earn rate of just 1 Membership Reward point per pound spent is pretty disappointing. Fortunately, there's an additional spending category: you'll earn 2 Membership Rewards points for every ÂŁ1 you spend on flights, hotels, car hire or American Express Travel experiences, which can be very profitable if you or your team are doing a lot. . business trip
While you will still receive 1 Membership Rewards point for every ÂŁ1 (equivalent) spent in foreign currency, you will also be charged a 2.99% foreign transaction fee, which is approximately double the value of the Membership Rewards points you are receiving. Therefore, do not use this card abroad for the purpose of accumulating points, unless absolutely necessary.
It's frustrating that a card with such a high annual fee and comparatively low earning rate for normal purchases still imposes foreign transaction fees. If Amex were going to improve anything on this card, it should look at either either the awful earnings structure or the fact that it still charges an unnecessary foreign transaction fee.
For a card that offers supreme travel benefits, it's odd to impose a penalty for using it abroad.
redeemer
The Membership Rewards points you will earn with this card, including the 100,000 point welcome bonus, are one of the most valuable points currencies available in the UK.TPG UK Membership Rewards Value Pointsat 1.4p each.
The reason they're so valuable is that they're a transferable currency, meaning you're not tied to just one program. actually theMembership Rewards Programpartners with 13 different airlines (including household names like British Airways, Emirates, Singapore Airlines and Virgin Atlantic), as well as three hotel chains (Hilton, Radisson and Marriott) and two other partners (Club Eurostar andNectar).
Related: The Definitive Guide to American Express UK Membership Rewards
In other words, you're not just earning Avios, which can only be redeemed through British Airways. Instead, you're earning currency that you can transfer to Avios if you wish, but you can also transfer to one of 17 other partners. This flexibility is extremely important.
With all that said, there are some better redemptions for your hard-earned Membership Rewards points than others. To checkour complete guide to using Membership Rewards pointsto ensure you are getting the most value for your points.
Benefits
Now for the especially good news: the benefits ofPlatinum Business Card. You can issue a complimentary Platinum card to one of your employees, as well as up to 98 complimentary Gold cards, and still receive all points and all charges paid on all (up to) 100 cards issued to your company. If you are the business owner, remember that your business will still be responsible for all purchases made.
A second complimentary Platinum card can be issued for an additional ÂŁ295 annual fee, however they will enjoy all the benefits of the main cardholder.
In addition, you will receive a free annual digital subscription to The Times and the Sunday Times, worth ÂŁ312 per year.
If you like to travel, whether for business or pleasure, this card offers a long list of benefits.
HePlatinum Business Cardcomes with a free Priority Pass membership that also lets youbring a guestin the room with youmore than 1,300 lounges in the worldwide Priority Pass network, Includingrestaurants, you must have a salon within walking distance, no matter where you travel. There are dozens and dozens of Priority Pass lounges across the UK and across Europe.
If you travel frequently to the United States, thePlatinum Business Cardgives you access toBest National Salon Chain in the US - Centurion Salons. Amex spent a lot of resources building these rooms and they are worth every penny. With award-winning chef menus, world-class cocktails, complimentary massages, spa treatments and more, Centurion Lounges are a bright spot in America's national lounge network. travel for free.
There are 13 Centurion Lounges open across the United States: Charlotte (CLT), Dallas-Fort Worth (DFW), Denver (DEN), Houston (IAH), Las Vegas (LAS), Los Angeles (LAX), Miami (MIA), New York Kennedy (JFK), New York LaGuardia (LGA), Philadelphia (PHL), Phoenix (PHX), San Francisco (SFO) and Seattle-Tacoma (SEA). The Amex Lounge Collection also offers the following international airport lounges, classified as Centurion or American Express:
- Buenos Aires, Argentina (EZE) – Centurion Hall
- Mexico City, Mexico (MEX) – Centurion Lounge and Clubs (three rooms)
- Monterrey, Mexico (MTY) – Centurion Clubs (two rooms)
- Toluca, México (TLC) – Club Centurion
- Hong Kong (HKG)– Hall of the Centurion
- Nova Deli, India (DEL) – American Express Lounge
- Sydney, Australia (SYD)– American Express Lounge
- Melbourne, Austrália (MEL) – American Express Lounge
Amex is scheduled to open a Centurion Lounge at London Heathrow Airport (LHR) later this year.
it is a program that also offers additional value. In addition to offering additional benefits when booking a hotel room through the program, such as complimentary breakfast for two, late checkout,free wifi, room upgrades when available, and a hotel-specific benefit, such as a $100 property credit; sometimes you can also find deals forFree nights when you stay three or four nights at a property. If you travel a lot, the benefits that only come with the Amex FHR program, especially the free breakfast for two, might just offset the annual fee.
Related:
Amex Business Platinum offers comprehensive travel insurance with no excess to pay.
There are also not one, not two, but four elite hotel statuses provided to the primary cardholder and up to two complimentary Platinums in the following programs:
- Hilton Honors Elite Gold Category
- Categoria Marriott Bonvoy Gold Elite
- Meliá Gold Rewards
- Status of Radisson Rewards Gold
Depending on the program, status offers a variety of benefits when staying at a property in this program, such as room upgrades, welcome gifts, bonus points, early check-in and late check-out, subject to availability.
There is also travel and car rental insurance, including for many purchases and situations in which you may not have used your card to pay. If you're renting a car, you'll also receive elite status in Avis Preferred and Hertz Gold Plus Rewards.
For off-site stays, you will receive a ÂŁ150 credit on your statement when staying in private homes withonefinestay.
Keep in mind that the first Platinum Supplement Cardholder, as well as the second paying Platinum Supplement Cardholder, will also receive any and all of these benefits.
There is an improved Amex app that you can use both to book through the Global Dining Collection and to more easily connect with the Business Platinum Service and Concierge.
What cards compete with this card?
This is the most premium business American Express card and its long list of features is truly unmatched by any other offering.
If you don't want to sign up for a card with a huge annual fee, but still want to earn Membership Rewards points, consider the optionTarjeta American Express Business Goldinstead, it has a much lower annual fee, but the welcome bonus is less. It gives you a welcome bonus of 20,000 Membership Rewards points after spending ÂŁ3,000 in the first three months. There are fewer travel benefits for you and your company.
In short
This really is the most fully featured publicly available business credit card in the UK. Yes, the annual fee is huge and will put many small business owners off, but this is almost offset by the welcome bonus amount. And if you or your employees are regular travelers, there's a huge list of travel benefits you can get a lot of value from.
You can apply for this card here.
Featured photo by Luis Alvarez/Getty Images.
FAQs
How good is the Amex Business Platinum card? ›
The Amex Business Platinum Card is an excellent choice for business travelers with expenses in the new bonus categories and those that offer statement credits. While it might not be worth the money for all business owners, its travel perks are difficult, if not impossible, to beat.
How much are American Express Business Platinum points worth? ›The Business Platinum Card® from American Express cardmembers get a 35% points rebate, up to 500,000 points back per calendar year. After factoring in the rebate, Amex Business Platinum cardmembers effectively get 1.54 cents per point in value.
What's the difference between American Express Platinum and American Express Platinum business? ›You use Pay with Points for premium travel
One of the major ways the two cards diverge is that the Amex Business Platinum offers cardmembers a refund of 35% of the points they redeem through Amex's Pay with Points feature while the personal version does not.
No,. American Express is not specifically for rich people, even though it does have a high level of status in many people's minds. Applicants need good or excellent credit scores of 700+ to qualify for Amex credit cards, and you don't need to be rich to have a good credit score.
Is it hard to get American Express business Platinum? ›It's not hard to get the Business Platinum Card from American Express if you have a 740 credit score and a history of earning business income. This card can be most beneficial if you're a business traveler who will use the travel benefits often.
What is better than American Express Platinum Card? ›But for most people, the Chase Sapphire Reserve® is probably the best premium credit card for spending on travel and for earning rewards toward even more travel. To view rates and fees of the American Express® Gold Card, see this page. To view rates and fees of The Platinum Card® from American Express, see this page.
How much money is 100000 Amex points worth? ›See our Advertiser Disclosure for more details. There's no doubt that the welcome offer of 100,000 Membership Rewards points from The Platinum Card® from American Express is a huge deal. 100,000 points are worth $2,200 per our valuations, and you can use them in a variety of different ways.
How much should I spend on my Amex Platinum Points? ›American Express Membership Points are worth exactly 1 cent apiece when booking travel through the issuer's portal. The current AmEx points value is 2 cents when transferred to partners.
What are 200 000 American Express points worth? ›While 200K Amex points will typically only give you about $2,000 in value when you shop for flights in the Amex travel portal, you can sometimes find Business or First Class flights — that can normally cost over $10,000 — for only 200K points, when transferred to a frequent flyer program.
Why American Express Platinum is the best? ›Make no mistake — the Amex Platinum card is a premium card with a premium price tag. With amazing benefits like best-in-class airport lounge access, hotel elite status, and tremendous value in annual card credits, it can easily prove to be one of the most lucrative cards in your wallet year after year.
Is the black card better than American Express Platinum? ›
Bottom Line: The Amex Platinum card has better earning potential than the Mastercard Black card. Membership Rewards points earned on the Amex Platinum card also offer greater potential value at redemption time when transferred to airline and hotel partners.
Is an Amex Platinum impressive? ›Make no mistake --- the Amex Platinum card is a premium card with a premium price tag. With amazing benefits like best-in-class airport lounge access, hotel elite status, and tremendous value in annual statement credits, it can easily prove to be one of the most lucrative cards in your wallet year after year.
What is the minimum income for Amex Platinum? ›Salary Needed for Amex Platinum Credit Card
If you make near $100,000 a year and have good credit, you should have no issue getting approved. But, applicants with annual incomes as low as $40,000 have also been approved if they have a low debt-to-income ratio and pay their other credit cards in full every month.
The most exclusive credit card is the American Express Centurion Card, also known as the Amex Black Card. It is reportedly reserved for people who spend at least $100,000 per year, and an invitation is needed to apply.
Why do rich people have Amex? ›It offers new cardholders 80,000 points for spending $6,000 in the first 6 months. Plus, it makes for a great travel companion as it offers 1 - 5 points per $1 spent on purchases. Among its many perks, it also provides concierge service and access to a host of worldwide airport lounges.
What is the limit of American Express Platinum credit card? ›| Card Name | Minimum Credit Limit |
|---|---|
| Chase Sapphire Preferred® Card | $5,000+ |
| Wells Fargo Reflect® Card | $1,000 minimum |
| The Platinum Card® from American Express | No Pre-Set Spending Limit |
| American Express® Gold Card | No Pre-Set Spending Limit |
When applying for the Amex Blue Card, try to have a good credit score, which is a FICO® Score of 670 or above. This is one of the easiest Membership Rewards cards to open, and even consumers with average credit scores have a decent chance of approval.
What are requirements for Amex business Platinum? ›- Have a credit score of 700+
- Report all eligible income on your application.
- Be prepared to call the Amex reconsideration line.
Is The Points Guy worth it? Despite the drawbacks mentioned above, The Points Guy is a fantastic resource for people looking to travel more for less money. Whether you're a credit card newbie or an Amex expert, you can find tips, tricks, and hacks to help you cash in points for flights on The Points Guy.
What card is equal to Amex Platinum? ›The Chase Sapphire Reserve always goes head-to-head with the Amex Platinum, and Chase even raised the card's annual fee to $550 in 2020. Now that the Amex Platinum has a $695 annual fee (see rates and fees), it makes the Sapphire Reserve the more affordable option.
What is the highest rated American Express credit card? ›
The Amex Platinum is unmatched when it comes to travel perks and benefits. If lounge access, hotel elite status and annual statement credits are important to you, this card is well worth the high annual fee. Read our full review of the Platinum Card from American Express.
How many Amex points do I need for a flight? ›To use Pay with Points for an online travel booking, you must use a Membership Rewards Program enrolled card for payment and redeem at least 1,000 Points per transaction.
How much is 2 million Amex points? ›The good news is that AR has 2 million MR points which can be cashed out for $20,000 in gift cards through American Express.
What do 300000 Amex points get you? ›When it comes to air miles, a balance of 300,000 points opens up a world of destinations, from the beaches of the Seychelles to the buzz of San Francisco. Transfer your points to Avios to enjoy two return business class flights to some of British Airways most coveted US destinations.
How much are 150000 Amex points worth? ›We generally value Membership Rewards points at about 2.2 cents per point, which means that a 100,000-point bonus offer is worth ~$2,200, a 125,000-point bonus is worth ~$2,750, and a 150,000-point bonus is worth $3,300.
How do I get 100000 points on Amex Platinum? ›You can earn 100,000 Membership Rewards® Points when you spend $6,000 on purchases on the card in your first six months of card membership. If you redeem the rewards for a 1:1 value, this is worth $1,000.
How many Amex points equals $1? ›100-200 Amex points equal a dollar, depending on how they're redeemed. For example, you'll need around 167 points for $1 if you redeem for a statement credit, while you'll only need 100 points for $1 when redeeming for flights through American Express Membership Rewards.
How much is 120k Amex points worth? ›These points are worth a whopping $2,400 based on TPG's most recent Membership Rewards valuation of 2 cents apiece.
Is 1 million Amex points a lot? ›While earning 1 million Membership Rewards points requires a lot of spending, you can get there much faster with credit card category and welcome bonuses. While it may be tempting to apply for all of the high welcome bonuses at once, keep in mind that Amex does limit the number of cards you can have at once.
Is Amex business Platinum a metal card? ›Yes, the American Express Business Platinum card has been a metal card since March 30, 2017. So, if you're opening a new account, you'll automatically be issued a metal card.
Does Amex business card build credit? ›
Do business credit cards build credit? They do if you apply for them using your EIN. By using small business credit cards to build credit, you can establish a good payment history that is reported to at least one, if not multiple business credit bureaus.
What is the benefit of Amex business card? ›Get up to 55 interest-free days. Use your Card throughout the month for all of your everyday business expenses and earn points while you're at it. Enjoy financial flexibility with no pre-set spending limit on purchases.
How much is 100k Amex points worth? ›100,000 points are worth $2,200 per our valuations, and you can use them in a variety of different ways. Think international business class, free domestic airfare, and stays in luxurious hotel suites.
Can you carry balance on Amex business Platinum? ›You can only carry a balance from month to month with select eligible charges using the card's Pay Over Time feature, with interest. These charges will be included in a different balance, up to a limit.
What is the credit limit for Amex business cards? ›FAQs. What is the credit limit for the Blue Business Cash™ Card from American Express? The credit limit for the Blue Business Cash™ Card from American Express generally ranges from $1,000 to $10,000 or more depending on creditworthiness. This card also offers expanded buying power that lets you exceed your credit limit ...
Does Amex business card have credit limit? ›The American Express® Business Gold Card (terms apply, see rates & fees) offers no preset credit limit, so for those businesses that qualify the card offers the flexibility of a credit limit that adapts based on the purchase, payment and credit history of the account.
What score do I need for Amex business card? ›If you have a good to excellent score (670-850 points) your application for a business card may be accepted even if your business credit score is low or non-existent. The credit limit and interest rate on the card will then be based on your personal credit score.
How much do you need to spend to make Amex Platinum worth it? ›If you've decided that the card is worth its annual fee, here's the official application link: The Platinum Card® from American Express with 80,000 Membership Rewards Points after you spend $6,000 on purchases within the first six months of card membership.
How do I take advantage of Amex business Platinum? ›- Score the sizeable welcome offer. ...
- Earn maximum points for regular spending. ...
- Turn your points into miles for higher redemption values. ...
- Take full advantage of the $200 airline fee credit. ...
- Access airport lounges.
The Amex Platinum card is well worth it for frequent travelers who want luxury travel and lifestyle perks, and who can regularly take advantage of the card's premium benefits.