Brothers91/ Getty Images; Illustration by Austin Courregé/Bankrate
Key takeaways
- Both The Platinum Card® from American Express and The Business Platinum Card® from American Express are top-tier credit card options with premium benefits (and high annual fees to match)
- The Amex Platinum Card may be a better choice for users who appreciate travel-related perks but also want to take advantage of the card’s consumer spending credits.
- Business owners will want to check out the Business Platinum Card’s higher bonus rate for business-related purchases, as well as its business-oriented spending credits.
- Before choosing either card, analyze your spending habits to ensure the value you’ll get from the card surpasses its annual fee
If you’re a fan of American Express credit cards and in the market for a new one, there’s no doubt you’ve considered some of the issuer’s top, premium-level cards: The Platinum Card® from American Express and The Business Platinum Card® from American Express.
Even though the business version of the Amex Platinum has some of the same card benefits as the consumer version, there are still major differences between the two. These differences could mean that one card is better than the other for certain types of spenders.
Here’s what we found in the battle of the Amex Platinum versus the Amex Business Platinum.
Main details
| Card | The Platinum Card from American Express | The Business Platinum Card from American Express |
|---|---|---|
| Welcome bonus | 80,000 points after you spend $8,000 in the first 6 months of account opening | 120,000 points after you spend $15,000 on eligible purchases in the first 3 months of account opening |
| Rewards rate |
|
|
| Annual fee | $695 | $695 |
The Platinum Card from American Express vs. The Business Platinum Card from American Express highlights
Because both cards are from the same issuer, they have a lot in common when it comes to card perks and benefits. However, there are some differences to note when deciding which card you’ll get.
Welcome bonus winner
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Although the welcome bonus is smaller on the Amex Platinum card (80,000 points vs. 120,000 points), we still give it the nod here based on each card’s minimum spending requirements. To earn the bonus, the American Express Platinum card requires you to spend only $8,000 within the first 6 months of opening your account, while the Amex Business Platinum card requires cardholders to spend $15,000 within the first 3 months of account opening. That said, it’s worth noting that these spending requirements are relative since a business owner would likely find it easier to meet them than an individual.
According to our points and miles valuations, Amex points can be worth up to 2.0 cents each when redeemed with high-value Amex travel partners. That means your welcome bonus could be worth up to $1,600 for the Amex Platinum or $2,400 for the Amex Business Platinum.
Although the welcome bonus is smaller on the Amex Platinum card (80,000 points vs. 120,000 points), we still give it the nod here based on each card’s minimum spending requirements. To earn the bonus, the American Express Platinum card requires you to spend only $8,000 within the first 6 months of opening your account, while the Amex Business Platinum card requires cardholders to spend $15,000 within the first 3 months of account opening. That said, it’s worth noting that these spending requirements are relative since a business owner would likely find it easier to meet them than an individual.
According to our points and miles valuations, Amex points can be worth up to 2.0 cents each when redeemed with high-value Amex travel partners. That means your welcome bonus could be worth up to $1,600 for the Amex Platinum or $2,400 for the Amex Business Platinum.
Rewards rate winner
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This is also somewhat of a relative comparison that boils down to the type of spending you plan to do on your Amex card. Both cards earn 5X points on airfare and prepaid hotels booked through American Express Travel, but the Amex Platinum caps spending to $500,000 per year. Prepaid car rentals through American Express Travel net 2X rewards on both cards, too.
However, if you’re a business owner who makes purchases in key business categories, you’ll earn 1.5X points on those purchases. You’ll also earn 1.5X points on purchases of $5,000 or more at a time (on up to $2 million in purchases per year). These types of purchases with the consumer Amex Platinum will earn you only 1X points, giving a slight edge to the Amex Business Platinum in this category.
This is also somewhat of a relative comparison that boils down to the type of spending you plan to do on your Amex card. Both cards earn 5X points on airfare and prepaid hotels booked through American Express Travel, but the Amex Platinum caps spending to $500,000 per year. Prepaid car rentals through American Express Travel net 2X rewards on both cards, too.
However, if you’re a business owner who makes purchases in key business categories, you’ll earn 1.5X points on those purchases. You’ll also earn 1.5X points on purchases of $5,000 or more at a time (on up to $2 million in purchases per year). These types of purchases with the consumer Amex Platinum will earn you only 1X points, giving a slight edge to the Amex Business Platinum in this category.
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Both the Amex Platinum and the Amex Business Platinum have an annual fee of $695, so they tie in this category.
Both the Amex Platinum and the Amex Business Platinum have an annual fee of $695, so they tie in this category.
Foreign transaction fee winner
Card benefits winner
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There are many overlapping benefits with both cards — such as trip cancellation and interruption insurance, trip delay insurance, extended warranty coverage, purchase protection, return protection, cell phone protection, concierge services and many more. Because many of the cards’ benefits overlap, the next best way to compare the cards is to look at the credits offered. If you can take advantage of enough credits, you can easily justify either card’s annual fee.
While both cards offer some overlapping credits, too — such as up to $200 in credits for airline incidental fees with a pre-selected airline, up to a $189 credit for CLEAR Plus membership and up to a $100 credit for TSA PreCheck or Global Entry — the consumer version of the Platinum card also offers credits for Equinox, digital entertainment, Uber and other retailers that are not available with the business card (enrollment required for some benefits).
On the other hand, with the Amex Business Platinum, you’ll get credits like up to a $400 statement credit on Dell purchases (up to $200 semi-annually), up to a $360 statement credit on Indeed hiring and recruiting products and services (up to $90 per quarter), up to a $150 statement credit per year on select Adobe purchases and up to $120 in statement credits for direct purchases from any U.S. wireless telephone provider (up to $10 per month).
There are many overlapping benefits with both cards — such as trip cancellation and interruption insurance, trip delay insurance, extended warranty coverage, purchase protection, return protection, cell phone protection, concierge services and many more. Because many of the cards’ benefits overlap, the next best way to compare the cards is to look at the credits offered. If you can take advantage of enough credits, you can easily justify either card’s annual fee.
While both cards offer some overlapping credits, too — such as up to $200 in credits for airline incidental fees with a pre-selected airline, up to a $189 credit for CLEAR Plus membership and up to a $100 credit for TSA PreCheck or Global Entry — the consumer version of the Platinum card also offers credits for Equinox, digital entertainment, Uber and other retailers that are not available with the business card (enrollment required for some benefits).
On the other hand, with the Amex Business Platinum, you’ll get credits like up to a $400 statement credit on Dell purchases (up to $200 semi-annually), up to a $360 statement credit on Indeed hiring and recruiting products and services (up to $90 per quarter), up to a $150 statement credit per year on select Adobe purchases and up to $120 in statement credits for direct purchases from any U.S. wireless telephone provider (up to $10 per month).
Which card earns the most?
If you’re an entrepreneur that puts large business purchases on your credit card, you could stand to earn slightly more in rewards with the Amex Business Platinum. And although it might be challenging to reach the $500,000 annual cap on flights with the Amex Platinum, there’s no cap on flights or prepaid hotels with the Business Platinum.
Spending example
For example, if you’re a business owner and hold the Amex Business Platinum, you could earn 1.5X points instead of 1X points on key business purchases and purchases of $5,000 or more (on up to $2 million spent per year). So, if you spend $100,000 per year in eligible 1.5X categories, you’ll earn 150,000 points (a value of at least $1,500). If you were to spend that same amount on the Amex Platinum, you’d earn only 100,000 points (a value of at least $1,000).
Why should you get the Amex Platinum?
Additional benefits
The benefits of the Amex Platinum are tailored toward luxury travelers, but they also include some lifestyle perks not offered on the Business Platinum card. Some of the benefits and credits you’ll get include:
- Access to over 1,400 airport lounges
- Complimentary Marriott Bonvoy Gold Elite Status and Hilton Honors Gold Status
- Up to a $100 credit for Global Entry or TSA PreCheck (once every 4 or 4.5 years, respectively)
- Up to a $189 annual statement credit for CLEAR Plus membership
- Up to $200 in airline fee credits annually for incidentals with a qualifying airline
- Up to $200 in credits per year for eligible prepaid hotel bookings at Fine Hotels + Resorts or The Hotel Collection properties via American Express Travel (minimum stay of 2 nights required)
- Up to $200 in Uber Cash for rides and Uber Eats delivery ($15 per month, plus an extra $20 in December, terms apply)
- Up to $240 per year in digital entertainment credits with select suppliers (up to $20 in statement credits per month, enrollment required)
- Up to $300 in eligible Equinox fitness statement credits per year (enrollment required, subject to auto-renewal, see offer terms for details)
- Up to $100 for Saks Fifth Avenue purchases annually ($50 for January through June and $50 for July through December)
- Up to a $100 credit on eligible stays with The Hotel Collection properties (minimum stay of 2 consecutive nights)
- Up to $155 in statement credits per year for Walmart+ membership ($12.95 plus applicable taxes, subject to auto-renewal, Plus Ups excluded)
Redemption options
Both cards share similar redemption options since they come from the same issuer, and you’ll earn points in the American Express Membership Rewards program. You can redeem points for merchandise, gift cards, statement credits, travel booked through American Express Travel or transfers to Amex airline and hotel partners.
Recommended credit score
This is a premium Amex card, so you’ve got to have top-notch credit. To increase your approval odds for this card, you’ll need a good to excellent credit score (670 to 850).
Why should you get the Amex Business Platinum?
Additional benefits
Since the credits and perks of the Amex Business Platinum are more tailored to business owners, you won’t get quite as many lifestyle benefits as the consumer version of the card. However, you will get a few more credits geared towards business spending, which include:
- Up to a $100 statement credit for Global Entry or TSA PreCheck (once every 4 years)
- Up to a $189 annual statement credit for CLEAR Plus membership
- Up to $200 in airline fee statement credits annually for incidentals with a pre-selected qualifying airline
- An average of $600 in complimentary perks per stay with Fine Hotels and Resorts properties when booking through American Express Travel
- Up to $400 in statement credits on Dell purchases (up to $200 semi-annually)
- Up to $360 in statement credits on Indeed hiring and recruiting products and services (up to $90 per quarter)
- Up to $300 in onboard credits for eligible cruise bookings
- Up to $100 in statement credits for eligible stays at The Hotel Collection properties
- Up to a $150 statement credit per year on select Adobe purchases
- Up to $120 in statement credits for direct purchases from any U.S. wireless telephone provider (up to $10 per month)
Redemption options
As mentioned, redemption options are similar to the Amex Platinum. You’ll earn Membership Rewards points, which can be redeemed for merchandise, gift cards, statement credits, travel booked through American Express Travel or transfers to Amex airline and hotel partners.
Recommended credit score
Like its non-business counterpart, this card requires a good to excellent credit score.
Business perks of Amex Business Platinum
Although it is possible to use a personal card for business expenses, the Business Platinum card provides business owners with several advantages over the consumer version of the card. Here are a few business-specific perks that business owners will find on the Amex Business Platinum vs. the Amex Platinum:
- Ability to request employee cards and set spending limits (annual fees apply)
- Assign an account manager to set employee spending limits and track employee spending
- Can automatically send card expenditures to a connected Quickbooks account
- Receive a detailed year-end summary of your expenses
- Online statements allow you to see your purchase history, budget for expenses and prepare reports
- Set account alerts to monitor employee card usage
- Enroll card with Vendor Pay by Bill.com and receive complimentary access to the Basic plan for the first user (additional users subject to fees after first six months)
Business owners should keep in mind that the Amex Business Platinum also comes with the following credits and earnings capabilities not found on the consumer version of the card:
- No spending cap on 5X points earnings for flights and prepaid hotels booked through Amex Travel
- Earns 1.5X points on purchases in key business categories (electronic goods and associated retailers, software and cloud service providers, U.S. construction materials and hardware supplies, shipping providers) and on all purchases of $5,000 or more (up to $2 million in combined purchases annually)
- Up to $400 in statement credits toward Dell purchases each year (up to $200 semi-annually)
- Up to $360 in statement credits on Indeed hiring and recruiting products each year (up to $90 per quarter)
- Up to $150 in statement credits each year on select Adobe purchases
- Up to $120 in statement credits each year for telephone service purchases made directly with U.S. wireless providers (up to $10 per month)
The bottom line
Both The Platinum Card from American Express and The Business Platinum Card from American Express offer a generous welcome bonus and similar benefits for travel-related spending. The main difference comes down to the cards’ rewards structures and credits.
The card you should get will primarily depend on whether you’ll be using this card for personal or business spending. To find the best rewards card for you, first analyze your spending patterns. Then, choose the card that helps you earn the most rewards based on your normal spending categories. And don’t neglect looking into other top business cards and travel rewards cards to determine whether there’s an option outside the Amex Platinum universe that best suits you.
Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
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