If you’re a business owner looking for a credit card with travel perks, a high earn rate, and the chance to redeem points on travel and statement credits, the Business Platinum Card from American Express is one to consider.
For many business travellers, the benefits of this travel credit card outweigh the high annual fee. With an extensive welcome bonus and high earn rate, this is potentially one of American Express’s best business credit cards to date.
This American Express Business Platinum Card review covers its benefits, fees, alternatives, and more.
Business Platinum Card from American Express – At a Glance
- No pre-set spending limit
- $799 annual fee
- $250 annual fee for supplementary Business Platinum cards
- $0 annual fee for supplementary Business Gold cards
- Flexible payment options (20.99%-28.99% interest rate)
- Earn 1.25x the points on every $1 in card purchases
- 55 interest-free days
- Premium business benefits
- Stainless steel and personally engraved
- Get access to over 1,300 airport lounges across 140 countries
Business Platinum Card from American Express
Rewards: Earn 1.25x pts per $1 spent on all purchases.
Welcome offer: NA
Interest rates: N/A. Check card details for penalty APRs.
Annual fee: $799
Business Platinum Card from American Express Benefits
New cardholders get a welcome bonus.
Other Business Platinum Card from American Express benefits include:
Earn & Redeem Membership Rewards Points
On almost every purchase, earn 1.25 Membership Rewards points for every $1 spent. Supplementary cards earn virtually the same rate. There is no limit to how many points you can earn, and your points never expire.
Plus, refer a friend or family member, and you could earn a maximum bonus of 225,000 points.
All points can be redeemed on a wide range of dining, entertainment, retail, and travel rewards.
Here are just a few things you could redeem points for:
- Air Canada flights anywhere in the world
- Flights, car rentals, and hotels with American Express Travel
- Transfer points to frequent flyer and hotel programs
- Statement credits
- Amazon.ca purchases
- Merchandise and gift cards
Premium Business Benefits and Coverage
The Business Platinum Card from American Express in Canada includes a range of business benefits, including the following.
- Get up to 55 interest-free days if you pay the balance in full the next month
- No pre-set spending limit on purchases which grows over time
- Access quarterly and annual paperless expense management reports
- Get coverage of up to $100,000 in the event of employee card misuse
Travel and Purchase Insurance
This AMEX credit card offers a whole host of travel and purchase insurance, so you can be protected no matter what.
Out of Province/Country Emergency Medical Insurance – get emergency medical insurance with coverage up to $5,000,000 for the first 15 days of a trip (if you’re under 65).
Travel Emergency Assistance – get out-of-town emergency medical referrals and medical visits arranged by AXA.
Trip Cancellation Insurance – get covered for up to $1,500 per insured person (up to a maximum of $3,000) if your trip is cancelled for a covered reason.
Trip Interruption Insurance – get covered for up to $1,500 per insured person (up to a maximum of $6,000) if your trip is interrupted for a covered reason.
$500,000 Travel Accident Insurance – get up to $500,000 in coverage in the event of accidental death or dismemberment for you, your spouse, and dependent children.
Flight Delay Insurance – get covered for up to $1,000 for necessary purchases if your flight is delayed for over 4 hours and no alternate transportation is available.
Lost, Stolen, or Delayed Baggage Insurance – get up to $1,000 in coverage if your checked or carry-on baggage is stolen, lost, or delayed for more than 6 hours.
Hotel Burglary Insurance – get covered for up to $1,000 against the loss of personal items if your accommodation is broken into.
Car Rental Damage & Theft Insurance – get up to $85,000 in coverage for damage, theft, or loss of car rentals (48 days or less).
Buyer’s Assurance Protection Plan – automatically doubles the manufacturer’s original warranty (for up to one year).
Purchase Protection Plan – get insured for up to $1,000 in the event of accidental damage or theft of eligible items charged to your AMEX Business Platinum card.
Business Travel Benefits
As a Business Platinum Card from American Express cardholder, you get access to tons of benefits, including airport lounge programs, hotel programs, and more.
Airport lounge programs: You and one travel companion get complimentary access to Plaza Premium lounges, get Priority Pass, and access to the Delta Sky Club.
Hotel programs: Get exclusive deals at over 900 hotels and resorts and a premium hotel program membership with access to 29 hotel brands at over 6,700 locations.
In addition, you can access a $100 CAD credit for NEXUS every four years, plus mobile device insurance.
AMEX Experiences and Exclusive Offers
The American Express Business Platinum card unlocks access to special platinum events, front-of-the-line access, and professional concierge service. You can also get over $1,000 in value every year with Amex Offers.
Downsides of the Business Platinum Card from American Express
With the Business Platinum Card from American Express, you can pay your balance in full or choose a flexible payment option. If you fail to pay your Due in Full balance each month, you’ll face a high interest rate of 30%.
Another downside is the Business Platinum Card from American Express’ annual fee of $799, plus $250 for each supplementary Business Platinum card.
If you decide to apply for this card, you need to ensure you’ll be able to pay the annual fee and pay off your balances in full. Otherwise, you’ll be faced with a 30% interest rate.
How To Apply for the Business Platinum Card from American Express
Application requirements:
- You must be a Canadian resident with a Canadian credit file
- You must be the age of majority in your province or territory
It’s recommended to have a credit score of at least 740 for the best chance of approval.
How To Redeem Membership Rewards Points
To view the offers available and redeem your Membership Rewards points, click here.
You can also make purchases on your card, then log in to your online account. Click “Use points for eligible purchases,” select the purchase you want to redeem points towards and click submit.
Alternatives to the Business Platinum Card from American Express
For comparison, here are a few other business credit cards:
Loop Corporate Credit Card
Loop Corporate Card
Rewards: Earn cash back on purchases, can hold multiple currencies (GBP, CAD, EUR, and USD), variable credit limit of up to $1 million, 55 days to make a payment; applying won’t affect your credit score.
Welcome offer: N/A
Cards: Free account gets up to 20 virtual cards and 2 physical cards; extra physical cards for $5 each.
Annual fee: $0 (Free plan). For additional premium features, you can get the Loop Plus for $49 CAD/month or $199 CAD/month for Loop Power.
Business Platinum Card from American Express vs Marriott Bonvoy Business American Express Card
The Marriott Bonvoy Business American Express card has a 20.99% interest rate on purchases and $21.99% on cash advances. To get this card with all its perks, you’ll pay a $150 annual fee.
On almost all purchases, you earn Marriott Bonvoy points, which can be redeemed on various travel bookings and perks.
The earning structure is as follows:
- Earn 5 points for every $1 spent on Marriott Bonvoy purchases
- Earn 3 points for every $1 spent on gas, travel, and dining purchases
- Earn 1 point for $1 spent on everything else
With this card, you also get a range of travel and shopping insurance coverage.
Marriott Bonvoy Business American Express Card
Rewards: Earn 5 pts/$1 spent at Marriott Bonvoy; 3 pts/$1 on travel, gas, & dining; 2 pts/$1 everywhere else; 1 free night each year; Elite Night credits.
Welcome offer: NA
Interest rates: 20.99% on purchases and 21.99% on cash advances.
Annual fee: $150
Business Platinum Card from American Express vs American Express Business Edge Card
The American Express Business Edge card is one of the best business credit cards made for small business owners.
With a $99 annual fee, this credit card has an interest rate of 20.99% on purchases and 21.99% on funds advances.
You’ll earn Membership Rewards Points, which you can redeem on travel, dining, entertainment, and retail purchases.
American Express Business Edge Card
Rewards: Earn 3x the points per $1 spent on office supplies, gas, food, & electronics; 1x points everywhere else.
Welcome offer: NA
Interest rates: 20.99% on purchases and 21.99% on cash advances.
Annual fee: $99
Is the Business Platinum Card from American Express For You?
If you own a business, make large purchases often, and travel, the Business Platinum Card from American Express might be for you.
With a suite of travel insurance and perks, this card is an excellent choice for travellers with large expenses, as you can earn 1.25x the points on almost every purchase.
It may not be worth the high annual fee of $799 for everyone, but the travel perks are hard to beat.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.
