American Express Platinum Business Card

Last updated: Oct 2, 2020

Enjoy 150,000 bonus points, exclusive travel perks and no pre-set spending limit with the American Express Platinum Business Card.

The Amex Platinum Business card offers up to 55 days to pay for purchases, as well as access to the Global Lounge Collection, complimentary insurance and Membership Rewards Points.

If you apply for this card by 13 January 2021, you can also collect 150,000 bonus Membership Rewards points when you spend $5,000 within the first 3 months from card approval.

Terms and conditions apply

Find out more Go to site

150,000

Bonus points

2.25

Reward points

Per $ spent

$1,750 p.a.

Annual fee

55 days

Interest free period

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Details

Product Name	American Express Platinum Business Card
Rewards program	Membership Rewards
Purchase rate	N/A
Annual fee	$1,750
Interest-free period	55 days
Card type	American Express
Foreign currency conversion fee	3%

Available to temporary residents	No
Joint application	No

Pros

Receive 150,000 bonus Membership Rewards Points when you spend $5,000 within the first 3 months
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
Bonus points	150,000
Rewards points per $ spent	2.25

Annual fee	$1,750
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

Expert review

Review by

Sally McMullen

sally.mcmullen@finder.com.au

Sally McMullen is a creative content producer at Finder, co-hosts our Pocket Money podcast and wrote about credit cards for almost five years. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone. She has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.

Expert review

The American Express Platinum Business charge card gives you a way to get rewards as you manage your business spending, earning 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). To give you an idea of the potential rewards, you could exchange your 150,000 Membership Rewards for 75,000 Qantas Points.

It also comes packed with premium perks, including 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 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 .
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 this 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 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

150,000 bonus points offer. Apply by 13 January 2021 and spend $5,000 within the first 3 months of card activation and you'll receive 150,000 bonus Membership Reward Points. Points will be awarded 8-10 weeks after you meet the spend requirement.
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, Shangri-La 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.
Complimentary Australian Financial Review subscription. Valued at $628 p.a., you can stay on top of the latest news with access to afr.com.au from any device, a digital version of the day's paper, archive access and exclusive daily emails.
Expense tracking. Stay on top of your business spending, download statements and transaction details and integrate data from your American Express Platinum Business card through Quicken, MYOB and Microsoft Excel.
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.

Business benefits in 2020

New and existing American Express Platinum Business card members can get extra value in 2020 with the following benefits:

Anniversary business credit. Existing Platinum Business card members with a membership anniversary in 2020 will get an $800 business credit for your account.
Up to $320 back on business purchases. Until 31 December 2020 when you spend $20 or more you'll get $20 back, up to 16 times. Valid in store or online at the following participating businesses: Australia Post, Bing Lee, Google, Optus, PayPal and Telstra.
Dell and FedEx offers. From 28 May 2020, get up to $330 credit with FedEx (6 credits worth $55 each), and a $250 credit with Dell.
Idea Exchange. Access business grants, online mentoring and online masterclasses designed to support your business.

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.

Go to American Express' site More info

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American Express Platinum Business Card