American Express Platinum Business Card

Offers a massive 300,000 bonus points, a first-year annual fee discount and an impressive mix of exclusive perks.

The Amex Platinum Business Card offers up to 55 days to pay for purchases, additional cards for employees and perks including airport lounge access, elite hotel status and Membership Rewards Points.

If you apply as a new Amex card member for this card by 27 July 2022, you’ll also get 300,000 bonus Membership Rewards Points when you spend $12,000 within the first 3 months from card approval. Plus, a halved annual fee in the first year that saves you $875. But as the $1,750 annual fee that applies after that is still high, it’s worth thinking about how much value you can get from all the other features and perks.

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Amy Bradney-George

Last Updated Jan 14, 2021

300,000

Bonus points

2.25

Reward points

Per $ spent

$875 p.a.

Annual fee

for the first year ($1,750 p.a. thereafter)

55 days

Interest free period

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Details

Product Name	American Express Platinum Business Card
Rewards program	Membership Rewards Ascent Premium
Purchase rate p.a.	0%
Annual fee	$875 for the first year ($1,750 thereafter)
Interest-free period	Up to 55 days on purchases
Card type	American Express
Foreign currency conversion fee	3%

Available to temporary residents	No
Joint application	No

Pros

300,000 bonus Membership Rewards Points offer
Halved annual fee for the first year
No pre-set spending limit and up to 55 days cash flow
Luxury perks including unlimited access to 1,200 airport lounges and automatic hotel elite status

Cons

The annual fee of $1,750 p.a. is one of the highest on the market
American Express is not as widely accepted as Visa or Mastercard

Rewards program	Membership Rewards Ascent Premium
Bonus points	300,000
Rewards points per $ spent	2.25

Annual fee	$875 for the first year ($1,750 thereafter)
Minimum monthly repayment	100% of the closing balance outstanding
Foreign currency conversion fee	3%
Additional cardholder fee	$0
Number of additional cardholders	99

Go to American Express's site More info

Review by

Amy Bradney-George

amy.bradney-george@finder.com

Amy has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. She is also the editorial lead for Finder Green, covering sustainability across different industries. Her work has appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy also has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The American Express Platinum Business card comes with a huge 300,000 bonus Membership Rewards Points offer that you could use for $1,500 worth of gifts and goodies from David Jones, or around 150,000 frequent flyer points with a partner airline loyalty program (as an example).

This top-level charge card is suited to businesses that spend a lot and earn a lot, with a $1,750 annual fee that’s halved in the first year when you apply by 27 July 2022. It earns up to 2.25 Membership Rewards points per $1 spent and lets you transfer points to 10 frequent flyer partners, including Qantas Frequent Flyer (a rare option for one-off transfers). You can also shop with points at David Jones and Ticketmaster, redeem gift cards or get statement credits, with the point values and redemption options shown when you log in to your account.

Other premium perks include access to over 1,200 airport lounges around the world, hotel elite status partners and savings of up to 20% on business and first class flights booked through the Platinum Travel Service. Key business features include compatibility with MYOB, Microsoft Excel and Quicken and a dedicated account manager to help you with any questions about your business expenses. You’re also able to get up to 99 additional cardholders at no extra cost – which is just as well when you factor in the card’s annual fee.

How to apply

If you think the American Express Platinum Business Card is right for your business, you can apply online in around 10 minutes. Get started by making sure you meet the following eligibility requirements and have all the documents and details ready for the application.

Eligibility criteria

Minimum income. Your business must have an annual revenue of at least $75,000.
Business requirements. Your business must have an active ABN (Australian Business Number). Your business must also be registered for GST.

New cardholder. People who currently hold or have previously held an American Express card in the preceding 18-month period are not eligible for the bonus points offer. However, previous and existing bank-issued American Express companion cardholders are eligible.
Residency. You must be an Australian citizen or permanent resident.
Credit history. You'll need to have a good credit history and no payment defaults.
Age. You must be at least 18 years old to apply.

Required documents

Personal details. This includes your full name, email address, residential address, date of birth and contact number. You'll also need to provide a valid form of ID, such as your driver's licence number or passport.
Business details. This includes your ABN, financial details for your business and your accountant's contact details.
Financial details. You'll need to provide financial documents proving that you make the minimum required annual income. This could include your accountant's information, as well as recent individual tax assessment notices.

Go to American Express' site More info

Card benefits

300,000 bonus points. Apply for the American Express Platinum Business Card as a new cardholder by 27 July 2022, get approved and spend $12,000 within the first 3 months of card activation to receive 300,000 bonus Membership Reward Points. The bonus points will then appear on your statement within 8 to 10 weeks after the spend criteria has been met.
Halved first-year annual fee. Apply as a new American Express Platinum Business card member by 27 July 2022 and you'll get a one-time $875 account credit during your first year. This covers half of the card's annual fee for the first year, with a $1,750 annual fee applying from the second year onwards.

AccessLine. Your business can make fast and secure payments to merchants even if they don't accept credit or charge cards thanks to American Express AccessLine. This gives you more ways to reward your business expenses as you earn Membership Rewards points per $1 spent on payments. You can also access up to 51 cashflow days and negotiate early payment discounts when you use AccessLine to pay your vendors.
Membership Rewards. Cardholders will earn 2.25 Membership Rewards Points per $1 spent on most eligible purchases. This includes spending at eligible restaurants and on airlines, accommodation, advertising, couriers and computer equipment. You also collect 2.25 points per $1 on eligible overseas spending and for utilities and insurance (except insurance issued by American Express). For spending with government bodies in Australia, you earn 1 point per $1 spent. You can redeem your points for rewards including flights, cashback, gift cards, merchandise and can be exchanged for frequent flyer points with airline rewards partners including Qantas Frequent Flyer, Velocity Frequent Flyer and Singapore Airlines KrisFlyer.
Airline lounge access. Relax before your next business trip with access to over 1,200 lounges through the American Express Global Lounge Collection. This includes the Centurion Lounge, International American Express Lounges and Priority Pass lounges.
Hotel Elite Status. Get fast-tracked to a higher status tier with hotel loyalty partners, including Radisson Hotel Group, Marriott Bonvoy and Hilton to receive discounts, earn more points and enjoy exclusive perks during your next hotel stay.
Complimentary Accor Plus membership. Valued at $399 p.a., Accor Plus membership benefits include one complimentary night of accommodation per year and up to 50% off your dining bill at over 1,000 5-star participating hotels.
Save on first and business class flights. You can fly in luxury for less and save up to 20% on first and business class fares booked through the Platinum Travel Service thanks to the American Express International Airlines Program.
Complimentary insurance for business travel. Travel with peace of mind with travel inconvenience cover (which will cover flight delays, missed connections and delayed luggage) and platinum travel insurance (regardless of whether or not you've charged the trip to your card). Your eligible dependant children, spouse and any additional employee card members are also covered by the travel insurance. For full details on what's covered, eligibility requirements and how to make a claim, check the insurance policy document available on the American Express website.
Monthly business expenses insurance. Protect your business finances with monthly business expenses insurance of up to $12,000 if you're unable to attend to your business.
Additional cardholders. You can easily manage your employee spending and earn points as they spend with up to 99 additional cardholders at no extra cost.
Flexible Payment Option. Instead of paying off your balance in full each statement period, you can choose to pay off a portion of it over time with the Flexible Payment Option. You use your card as normal, decide how much of your balance you'd like to pay and then carry over any unpaid amount to your next month's balance while attracting an interest rate on the remaining balance.
Personal account manager. This card comes with a dedicated account manager to help with enquiries about your business expenses, such as questions about working capital and financing requirements.
Platinum Business Concierge. The Platinum Business Concierge is like your own 24/7 personal assistant. Whether you're looking to book dinner reservations with clients, make travel arrangements or get tickets to events, you can call 10 673 760 to get help from your concierge.
Mobile contactless payments. Whether you use an iPhone, Android or Samsung device, you can use Apple Pay, Samsung Pay and Google Pay to make convenient contactless payments with your smartphone at the checkout.

Rates & fees

Cash flow period. As this is a charge card, your spending won't attract interest charges. Instead, you'll have up to 55 cash flow days to pay off purchases. This also means you'll need to pay the total owed on each statement by the due date to avoid late fees.
Spending limit. The American Express Platinum Business Card has no pre-set spending limit. The use of your card, payment history and credit record will determine how much you can spend.

Annual fee. Outside of any promotions, the American Express Platinum Business Card charges an annual fee of $1,750 p.a.

Go to American Express' site More info

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American Express Platinum Business Card