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Bonus points: 350,000
Reward points per $ spent: 2.25
Annual fee: $1,750 p.a.
Interest-free on purchases: Up to 55 days

Our verdict

Offers 350,000 bonus points and an impressive mix of luxury perks, with a $1,750 annual fee.

Finder Awards winner

The American Express Platinum Business Card comes with a huge 350,000 bonus Membership Rewards Points for new Amex card members. To give you an idea of the potential value of the bonus points, you could redeem them for $1,750 worth of travel with Webjet or 175,000 Velocity Points, based on public details on the American Express website.

This top-level charge card is suited to businesses that spend a lot and earn a lot. It earns up to 2.25 Membership Rewards points per $1 spent and lets you transfer points to 12 frequent flyer partners, including Qantas Frequent Flyer (a rare option for one-off transfers). You can also shop with points at David Jones and Myer, 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 1,400 airport lounges around the world, hotel elite status with partners including Marriot Bonvoy and Hilton Honors and complimentary The Australian Premium Subscription. Key business features include compatibility with MYOB, Microsoft Excel and Quicken. 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.

Pros

350,000 bonus Membership Rewards Points
High 2.25 points per $1 on most eligible spending, with 1 point per $1 on government spend
Complimentary domestic and international travel insurance
Luxury perks including unlimited access to 1,400 airport lounges and hotel elite status partners

Cons

$1,750 annual fee is one of the highest on the market
3% foreign currency conversion fee
American Express is not as widely accepted as Visa or Mastercard

The American Express 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 online as a new Amex card member by 25 June 2024, you’ll also get 350,000 bonus Membership Rewards Points when you spend $12,000 on eligible purchases in the first 3 months from card approval. With a $1,750 annual fee, make sure the business features, rewards and other benefits will give you enough value to justify its cost.

Details

Product details

Product Name	American Express Platinum Business Card
Purchase rate p.a.	0%
Interest-free period	Up to 55 days on purchases
Card type	American Express

Eligibility

Available to temporary residents	No
Joint application	No

Rewards

Rewards program	Membership Rewards Ascent Premium
Bonus points	250,000
Rewards points per $ spent	2.25
Rewards points cap	Uncapped

Fees

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

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Congratulations, American Express!

The American Express Platinum Business Card has been named the Best Business Charge Card in the 2024 Finder Credit Card Awards. This high-end card scored highly for its big bonus points offers during the analysis period and its high rate of points per $1 spent. It offers 2.25 Membership Rewards points per $1 on most spending and 1 point per $1 with government bodies in Australia. It's also packed with perks including unlimited airport lounge access and international and domestic travel insurance.

Full list of 2024 winners

How to apply

If you want the American Express Platinum Business Card for your business, you can apply online in around 10-15 minutes. Get started by making sure you meet the 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 introductory offers. 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

350,000 bonus points. If you apply for the American Express Platinum Business Card online by 25 June 2024, get approved and spend $12,000 on eligible purchases within the first 3 months of card activation, you'll earn 350,000 bonus Membership Reward Points. These points will be added to your account within 8 to 10 weeks of meeting the spend requirement.
Membership Rewards. Cardholders 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, Singapore Airlines KrisFlyer and Emirates Skywards.

Airline lounge access. Relax before your next business trip with access to over 1,400 lounges through the American Express Global Lounge Collection. This includes the Centurion Lounge, International American Express Lounges and Priority Pass lounges.
Hotel Elite Status. This card fast-tracks you to higher status with hotel loyalty partners, including Marriott Bonvoy and Hilton Honors Gold status and Radisson Rewards Premium status. Higher status means you can earn more points and enjoy exclusive perks when you stay at participating hotels.
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 selected partner restaurants.
Complimentary insurance. This card offers complimentary travel insurance for return domestic and international trips, including holidays. It also gives you access to monthly business expenses cover and a range of insurance for eligible retail items purchased with the card. For full details on cover, eligibility requirements and how to make a claim, refer to the insurance policy document available on the American Express website.
Complimentary 12-month subscription to The Australian Premium. Get news and analysis from The Australian and The Wall Street Journal for 12 months with this premium subscription offer.
Up to $125 back with Dell Technologies. Save this offer to your account and shop with Dell Technologies online or over the phone to get your purchase amount as a credit back on your card, up to a maximum of $125 before 31 December 2024.
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.
Amex Experiences app. Launched in 2024, this app has details on all your platinum card benefits, travel offers, events and recommended merchants in one place. This could help you save time when you want to use a benefit or check for new offers. You can also use it alongside the Amex app to manage all aspects of your account.
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.
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.

Go to American Express' site More info

American Express Platinum Business Card information PDF

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Darren

October 29, 2023

Cardholders will earn 2.25 Membership Rewards Points per $1 spent on most eligible purchases. What’s not eligible? eg I own a business and was looking to use for paying for monthly stock items purchased. Would I get the full 2.25 points per $ spend on these items?

Amy Bradney-George Finder

November 06, 2023

Hi Darren,

Eligible purchases typically include spending on goods and services, so items of stock would typically qualify to earn points for most businesses. Transactions that don’t earn points include cash advances, account fees and charges and purchases with a merchant that you, any additional card members or a third-party related to you have an ownership interest in. If you have further questions about earning points for specific transactions, you may want to contact American Express on 139 323. I hope this helps.

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Daniel

September 25, 2023

What is the conversion rate from rewards points to Qantas or Velocity points?

Amy Bradney-George Finder

September 25, 2023

Hi Daniel,

American Express doesn’t publicly list the conversion rates from Membership Rewards to Qantas Points or Velocity Points for this card. As a guide, the Membership Rewards website does list a conversion rate of 2:1 for Membership Rewards Ascent to Velocity. If you have more specific questions about this card, you can contact American Express on 139 323. I hope this helps.

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Belinda

August 29, 2023

American Express Platinum Business Card – how often can you transfer to velocity frequent flyers

Amy Bradney-George Finder

September 01, 2023

Hi Belinda,

You can typically transfer points to Velocity at any time, as long as you have the minimum amount required for a transfer. You can view these details by logging in to your Amex account. I hope this helps.

American Express Platinum Business Card

Pros

Cons

Congratulations, American Express!

How to apply

Eligibility criteria

Required documents

Card benefits

Rates & fees

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