American Express Platinum Business Card
Offers 200,000 bonus points, a $300 account credit and an impressive mix of exclusive perks – with a $1,750 annual fee.
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.
Per $ spent
Interest free period
|Product Name||American Express Platinum Business Card|
|Rewards program||Membership Rewards Ascent Premium|
|Purchase rate||0% p.a.|
|Interest-free period||Up to 55 days on purchases|
|Card type||American Express|
|Foreign currency conversion fee||3%|
|Available to temporary residents||No|
- Receive 200,000 bonus Membership Rewards Points and a $300 credit
- 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
- 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|
|Rewards points per $ spent||2.25|
|Minimum monthly repayment||100% of the closing balance outstanding|
|Foreign currency conversion fee||3%|
|Additional cardholder fee||$0|
|Number of additional cardholders||99|
Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.
The American Express Platinum Business card comes with a 200,000 bonus Membership Rewards Points offer that you could use for $1,000 worth of gifts and goodies from David Jones (as an example).
This top-level charge card also earns up to 2.25 points per $1 spent. It’s worth noting this Membership Rewards card allows you to 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 of $1,750 p.a.
How to applyIf 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.
- 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.
- 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.
- 200,000 bonus points and a $300 credit. Apply for the American Express Platinum Business Card as a new cardholder by 12 January 2022, get approved and spend $5,000 within the first 3 months of card activation to receive 200,000 bonus Membership Reward Points, plus a $300 credit. Both the credit and bonus points will then appear on your statement within 8 to 10 weeks after the spend criteria has been met.
- 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.
- Shop Small points offer. Earn extra 3 Membership Rewards Points per $1 spent and support small businesses. Just save the American Express Shop Small offer to your card and spend with participating businesses by 31 March 2022. The offer is valid both in store and online and you can earn a maximum total of 40,000 extra points. Check out Finder's news story on Shop Small for a breakdown of how it works.
- 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 insurances (regardless of whether or not you've charged the trip to your card). Your dependent children, spouse and any additional 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.
- 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. The American Express Platinum Business Card charges an annual fee of $1,750 p.a.