American Express Platinum Business Card – Rates and Fees

Information verified correct on December 6th, 2016
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Enjoy 100,000 bonus points on sign-up, exclusive travel perks and interest-free days with the American Express Platinum Business Card.

The American Express Platinum Business Card is a convenient way to manage business expenses, maximise your reward points and enjoy premium perks through one account. If you sign up for this charge card by 31 January 2017 and meet the spend requirement, you can kickstart your points balance with a 100,000 bonus points offer. Plus, you'll earn Membership Rewards points on every eligible purchase spent thereafter.

You'll receive access to over 800 domestic and international airline lounges with Priority Pass, complimentary travel insurance and luxury hotel benefits. Managing your business' cashflow will also be easier with a Platinum Business Concierge service, Cash Flow Management that offers up to 51 days to pay for purchases and up to 99 additional cards at no extra cost.

Product NameAmerican Express Platinum Business Card
Rewards ProgramMembership Rewards Premium Ascent
Offer end date31 January 2017
Annual fee$1,500 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 51 days on purchases
Minimum Monthly Repayment100%
Minimum Income$75,000
Card TypeAmerican Express
Foreign Currency Conversion Fee (AMEX)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Complimentary Travel InsuranceYes
Complimentary Travel Insurance Cover6 months
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$75,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Annual Fee$1,500 p.a.
Minimum Repayment100%
Over Limit Fee$0
Foreign Currency Conversion Fee (AMEX)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders99
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • You can receive 100,000 bonus points when you apply by 31 January 2017, are approved and meet the required spend.
  • This card does not come with a pre-set spending limit. This makes the American Express Platinum Business Card an ideal tool for managing your businesses cash flow when you need quick access to funds.
  • Successful applicants will receive access to Starwood Gold Preferred Guest Membership offering access and upgrades to the finest hotels in the world.
  • Cardholders receive a complimentary subscription to BRW and Weekend Financial Review.

Cons

  • Platinum American Express Cards are not for all, but at $1,500 p.a. for the right to use this card, you must be sure it's the right card for your business.
  • This also goes hand in hand with the $75,000 minimum income requirement.
Rewards ProgramMembership Rewards Premium Ascent
Bonus Points on Sign-up100,000
Rewards Points per $ (VISA/MC)0
Rewards Points per $ (AMEX)1
Rewards Points per $ (VISA/MC) CapN/A
Rewards Points per $ (AMEX) Cap375,000
Points ExpiryNever

The American Express Platinum Business Card review

The American Express Platinum Business Card is designed to help manage business expenses, reward you as you spend and offer a variety of premium benefits. As well as a 100,000 bonus points offer for a limited time, you'll also earn up to 2 Membership Rewards points per $1 spent on eligible purchases. You can redeem these rewards for flights with up to 10 partner airlines, cash back on your account, gift cards and online shopping with David Jones.

If you're a frequent flyer, you'll enjoy the Priority Pass access to over 800 airline lounges. You can also access complimentary Virgin Lounge Access and complimentary travel insurance. For accounting purposes, you can keep track of your business expenses easily with statements that can be downloaded to Quicken, MYOB or Microsoft Excel. You can also manage employee spending with up to 99 additional cardholders at no cost and Monthly Business Expenses Insurance.

Benefits of the American Express Platinum Business Card

  • 100,000 bonus points offer. New and approved cardholders who apply by 31 January 2017 will receive 100,000 bonus points when they spend $5,000 in the first 3 months of card activation. This is enough for four return flights from Sydney to Los Angeles. Cardholders who currently hold or have previously held an American Express card in the preceding 18-month period are ineligible for this bonus points offer.
  • Earn Membership Rewards points. For every $1 spent in Australian restaurants, or on airlines and accommodation, you can earn 2 Membership Rewards points, capped at 375,000 points per year (reverting to 1 point or 0.5 points per $1 spent thereafter). Most other purchases offer 1 Membership Rewards point per $1 spent, except for utilities (except those issued by American Express) and government bodies where you earn 0.5 Membership Rewards points per $1 spent. These points can be redeemed for rewards including flights, frequent flyer points, cash back, gift cards and merchandise.
  • Complimentary international travel insurance. You can travel with peace of mind with travel inconvenience cover (which will cover flight delays, missed connections and delayed luggage) and platinum travel insurances (regardless of whether or not you've charged the trip to your card). Plus, your dependent children, your spouse and any supplementary card members are also covered by the travel insurance.
  • 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.
  • Purchase and refund protection. You'll receive purchase and refund protection that covers the cost of goods bought with your AMEX card for up to 90 days after your purchase.
  • Airline lounge access. Cardholders will receive complimentary Virgin Lounge access, American Express Lounge access, and a Priority Pass to access over 800 VIP lounges in 100 countries.
  • Mobile contactless payments. Whether you use an iPhone, Android or Samsung device, you can use Apple Pay, Samsung Pay and Android Pay to make convenient contactless payments with your smartphone at the checkout.

American Express Platinum Business Card features

  • Interest-free period. You'll receive 51 credit-free days on purchases made on the platinum business card.
  • 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 all determine your adjustable purchasing power.
  • Annual fee. The American Express Platinum Business Card has an annual fee of $1,500.
  • Minimum monthly repayments. As a charge card, charges made on this American Express card are to be paid in full monthly.
  • Manage business expenses with MYOB. Use MYOB accounting software for a more time efficient and simple way to manage your expenses. You can also keep track of your American Express business expenses with Quicken and Microsoft Excel.
  • Up to 99 additional cardholders. You can manage your employees' spending under the one account and request up to 99 additional cardholders for no extra cost.
  • Platinum Business Concierge. The Platinum Business Concierge is like your own 24/7 personal assistant. Whether you're looking to manage something in your account or book reservations for a business dinner with a client, you can call 1800 673 760 to get help from your concierge.
  • By invitation only. You'll receive invitations from the Platinum invitation only program to exclusive events and experiences that aren't available to the general public.
  • Golf Club Membership. Cardholders receive complimentary membership to the elite Preferred Gold Club, which boats over 85 overseas golf resorts and hotels.
  • Platinum travel. All of your business requests are handled by a team of experts while you focus on the job at hand.

How to apply for the American Express Platinum Business Card

If you think the American Express Platinum Business Card could fulfil your business' credit and rewards needs, you can complete an online application within 10 minutes. To increase your chances of approval, though, make sure you meet the following eligibility requirements and have the relevant documents on hand before you apply:

Eligibility criteria

  • You must be at least 18 years of age
  • You must be a permanent resident or citizen of Australia
  • You must have a personal, pre-tax annual income of $75,000 or more

Required documents

  • You'll need proof of your current employment along with contact information for your employer
  • Details of your monthly income and expenditures
  • Proof of your residency and phone number

When it comes to managing business expenses and rewards, American Express can cover it all. Compare the features of this card with other platinum cards to determine if the high annual fee will be worth it for your business.

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4 Responses to American Express Platinum Business Card – Rates and Fees

  1. Default Gravatar
    Dan | March 24, 2016

    I’d like to apply for the Amex Platinum Business Card (i.e. the charge card), which attracts an offer of bonus points at enrollment. However, there is statement in the promo material that says – “Cardholders who currently hold or have previously held an American Express card in the preceding 12-month period are ineligible for the bonus points offer.” Does this mean that those who currently hold a Platinum Business Card (or have held one in the previous 12 months) are not eligible, or does this mean that those who hold ANY Amex card (or have held one in the previous 12 months), are ineligible?

    • Staff
      Debbie | March 24, 2016

      Hi Dan,

      Thanks for your inquiry.

      Cardholders who previously held any American Express card within the previous 12 months are ineligible for the bonus offer.

      To compare other options, you can check our rewards credit card comparison page.

      I hope this helps.

      Cheers,
      Debbie

  2. Default Gravatar
    Micheal | March 27, 2012

    how much the maximum of the card limit

    • Staff
      Jeremy | April 23, 2012

      Hi,

      Thanks for the question. You will be assigned a credit limit based on your financial situation determined at the time of the application. Cheers.

      Jeremy

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