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

If you’re a small-business owner and you’re looking for a rewards credit card with premium travel benefits, The Platinum Card® from American Express and The Business Platinum Card® from American Express are two excellent options. How do you determine which one is better for you?

“You may not know it, but the capabilities of American Express business and personal cards are quite different,” an American Express spokesperson said. “American Express provides both business and consumer customers with distinct and powerful products and services for business and personal spending needs, respectively.”

Both cards offer substantial value but are designed with different kinds of cardholders in mind. Read on to compare and see which one is the right pick for you.

American Express Platinum vs. American Express Business Platinum

Card	The Platinum Card® from American Express	The Business Platinum Card® from American Express
Annual fee	$695	$695
Welcome bonus	100,000 points if you spend $6,000 in the first six months	120,000 Membership Rewards points when you spend $15,000 on eligible purchases within the first three months
Rewards	5 points per dollar on flights booked directly with airlines or with American Express Travel (up to $500,000 on these purchases per calendar year) 5 points per dollar on eligible prepaid hotels booked with American Express Travel 1 point per dollar on general purchases	5 points per dollar on flights and prepaid hotels on amextravel.com 1.5 points per dollar on each eligible purchase of $5,000 or more and on eligible purchases in key business categories (cap applies) 1.5 points per dollar on purchases for up to $2 million per calendar year on electronics goods, retailers, software and cloud service providers, as well as construction materials, hardware supplies and shipping providers 1 point per dollar on general purchases
Best for	Cardholders who value luxury travel and lifestyle benefits	Small-business owners who travel frequently

Earning rewards

With these cards, you can earn American Express Membership Rewards points by scoring a welcome bonus and getting rewarded for purchases.

Rewards rates

The rewards rates on the Amex Platinum and its business counterpart are somewhat similar.

Both cards earn 5 points per dollar on airfare and prepaid hotel bookings. The only difference is, the Platinum card also earns this rate on flight bookings made directly with airlines, while the Business Platinum gives 5 points per dollar only for travel booked through the Amex portal.

Next, the Business Platinum earns a little extra on large purchases – 1.5 points per dollar on purchases of $5,000 or more in addition to earning that same rate on eligible purchases in certain business categories (cap applies). As some small-business owners may make large transactions regularly, this can be a nice rewards boost.

Additionally, the card now offers 1.5 points per dollar on construction materials, hardware supplies and shipping providers, as well as electronic goods, retailers, software and cloud service providers (for up to $2 million per calendar year).

Welcome offers

Currently, both cards boast generous welcome bonuses, but with the Business Platinum you need to spend $15,000 within the first three months to reach it, while the Platinum only requires $6,000 in the first six months.

Redeeming rewards

Whichever of the two cards you get, your points can take you far and offer great value. You’ll get the best redemption rates if you transfer your rewards to an Amex transfer partner, but spending them on flights via Amex Travel will also yield excellent value of 1 cent per point. Other redemption options are available, but your points will lose a lot of value if you choose to use them.

A unique feature of the Business Platinum card is the 35% airline bonus. It offers essentially a 35% rebate of the points you use in the Amex Travel portal booking any flight directly with points on a qualifying preselected airline (up to 500,000 points per calendar year).

Travel benefits

If premium benefits are what you’re after, the Amex Platinum is the clear winner. After recent changes to the card, the list of statement credits and luxury perks that card offers has gotten even longer:

• Priority Pass Select membership
• $240 digital entertainment credit (up to $20 in statement credits each month at eligible providers Peacock, Audible, SiriusXM and The New York Times, enrollment required)
• $179 Clear annual statement credit for membership
• $100 Global Entry or $85 TSA PreCheck credit every four years
• Up to $200 airline fee credit (up to $200 in statement credits per calendar year for incidental fees like baggage fees at one qualifying airline)
• Up to $200 Uber Cash credit annually on U.S. rides and eats
• Up to $200 hotel credit on prepaid Fine Hotels + Resorts or The Hotel Collection bookings (minimum two-night stay required)
• Up to $300 Equinox credit (up to $25 back each month on eligible Equinox memberships; enrollment required)
• Up to $300 in annual statement credits on the SoulCycle At-Home Bike through Equinox+
• Up to $100 Saks Fifth Avenue credit ($50 twice a year, enrollment required)
• $155 Walmart+ credit when paying for your membership of $12.95 each month with the Amex Platinum
• Hilton Honors Gold status
• Marriott Gold status
• Uber VIP status
• Premium Private Jet Program
• Global Dining Access by Resy
• Complimentary access to more than 1,400 airport lounges, including the Centurion lounges, Delta Sky Club, Airspace lounges and more; enrollment required

For the Platinum Business card, the list isn’t an expansive, but it also offers excellent value – and Amex has recently added a few new perks.

Here’s what the list includes:

• $179 Clear annual statement credit for membership
• $100 Global Entry or $85 TSA PreCheck credit every four years
• Up to $200 airline fee credit (up to $200 in statement credits per calendar year for incidental fees like baggage fees at one qualifying airline) after enrollment
• Up to $400 annual statement credit on all Dell purchases (up to $200 semi-annually) after enrollment
• Up to $360 annual statement credit on Indeed hiring and recruiting products and services (up to $90 per quarter) after enrollment
• Up to $150 annual statement credit on select Adobe purchases, including Adobe Creative Cloud and Acrobat Pro DC with e-sign after enrollment
• Up to $120 annual statement credits for purchases made directly from any U.S. wireless telephone provider (up to $10 per month) after enrollment
• Hilton Honors Gold status
• Marriott Gold status
• Premium Private Jet Program
• Global Dining Access by Resy
• Complimentary access to over 1,400 airport lounges, including the Centurion lounges, Delta Sky Club, Airspace lounges and more

Additionally, the Amex Business Platinum offers benefits designed specifically for business owners, including employee cards, auto-expense categorization in QuickBooks, access to Vendor Pay by Bill.com, an option to add an account manager and more.

“While all our cards offer rewards to meet customers’ needs, a business card is built especially for businesses,” the Amex spokesperson told us. “The Business Platinum Card enables small and mid-size businesses to easily make B2B purchases to run their businesses, go on business trips, earn valuable rewards, save money on business expenses, manage cash flow and experience superior servicing.”

Annual fee

After the recent makeover, both cards have gotten higher annual fees and will now cost $695 per year.

That said, if you’re able to take advantage of most statement credit benefits on either card, the fee more than justifies itself – even after the increase.

Which one is best for you?

As you can see, both the American Express Platinum and the American Express Business Platinum have plenty to offer. They can be a great choice for a business owner, but, at the same time, they’re fit for different types of cardholders.

Amex Business Platinum: Best for small-business owners who travel often

The Amex Business Platinum is a wonderful option for business owners who want a business credit card with travel rewards and perks, as well as business benefits like statement credits on typical business expenses.

It may not have as long of a list of luxury perks, but it’s still an impressive product. Note, however, that it works best for heavy spenders who can easily meet the welcome bonus requirement and frequently take advantage of the 1.5X increased rewards rate on eligible purchases in certain business categories and on eligible purchases over $5,000.

“Cardmembers can rely on the Business Platinum Card for leading travel benefits, business rewards and servicing,” the Amex spokesperson explained. “It allows business owners to separate their work purchases from personal ones, to better keep track of finances; makes it easier to track and report for business tax purposes [and] keeps business expenses off your personal credit report, which in time could help raise your personal credit score. It also extends some similar benefits to personal cards that also make sense for a business owner.”

Amex Platinum: Best for business owners looking for luxury travel benefits

Even though the Amex Platinum is a consumer credit card, it doesn’t mean a business owner won’t get great value out of it. If you travel for work often, this card can be an amazing companion providing premium travel benefits. On top of that, you’ll have access to over $1,400 in statement credits.

“Consumer Platinum Card Members love to travel and dine out, but they also appreciate the comforts of home,” Amex said. “The new Platinum Card celebrates everyday adventure when you’re at home or out and about.”

That said, this card isn’t designed for business owners specifically. For that reason, if benefits like employee cards and account management are essential to you, you might be better off with the business version of the card.

Bottom line

American Express offers some of the most desirable credit card products for various types of cardholders, including small-business owners.

The choice between the Amex Platinum and the Amex Business Platinum comes down to what’s more important for you in your next card: value and business perks or luxury benefits that go beyond your business spending.