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Growing your business into 2024 with a Platinum Experience


With the new year approaching it might be time to opt for a dedicated business card for your company. We look at some of the signs you might be ready.

Sponsored by the American Express Platinum Business Card. Earn 350,000 Membership Rewards Bonus Points when you apply by 25 June 2024 and spend $12,000 on eligible purchases within 3 months of your approval date. Available for new American Express Card Members only.

When you're in the process of expanding a small business into a larger one, you need to give the company the tools it needs for success.

Equipment, software, staffing and workspaces are the obvious factors that get considered.

But the principle applies to financial tools, too.

A great place to start is your business card. If you don't already have one in place – or you're not happy with the one you're using – getting a new card can be a useful part of the process of taking your business to the next level.

So today, we take a look at 5 signs that your company might be ready for a business card.

Business owner making a deal

1. You need to separate personal from business finance

Many business owners have some overlap between their personal and company finances for the first couple of years while things get up and running.

Even after that, there could be overlap for employees when they claim expenses made on their own cards.

But this isn't sustainable long term. Part of growing your business to new heights means adopting scalable solutions.

This applies to the way day-to-day finances are managed. There needs to be more transparency and accountability around who's spending what and where.

Having a dedicated business card can allow you to ensure that both company and personal finances are kept clearly separate.

This will also assist in streamlining the reporting process

2. You're looking for ways to free up cash flow

As you continue to expand your business, your existing cash flow can be put under strain.

After all, growth involves new expenses. Loan-based solutions exist, of course, but they're not always prudent for the stage your business is at.

They can be quite restrictive in how funds are able to be spent.

So having the right business card in place can help you access funds when you need them.

Looking for the right blend of spending power, rewards and other features can help empower your business to make the right decisions at the right moment.

3. You need ways to entertain clients and employees

Business expansion can provide you with opportunities to reach clients you may not have been able to work with previously.

It also offers an opportunity to reward staff for their hard work and for contributing to the company's success overall.

Dining experiences and events are great ways to keep clients and staff alike engaged, entertained and feeling appreciated.

But this isn't necessarily a cheap approach, you still need to weigh up costs and make financial decisions prudently.

Opting for a business card that offers points you can redeem for gift cards, experiences (such as early access to concert tickets) and other rewards can be a great way to offset costs.2

4. You're after an extended payment period

Anyone who's run their own company knows that clients paying you doesn't necessarily align with when you need to pay your own bills!

So having a business card that provides you with an extended payment period can be extremely useful.

The American Express Platinum Business Card has a payment period of up to 55 days to pay for purchases4. So you don't have to worry about having funds ready on the 30th of every month.

In addition to offering 55 days to pay, the American Express Platinum Business Card also allows you to use a Flexible Payment Option (FPO).5

This will give you the choice to pay off a portion of your balance (up to your FPO limit) over time, and carry any unpaid amount to your next month's balance. Interest charges may apply.

Cafe owner with staff member

5. You need to financially empower your staff

As a business owner, you need to equip your staff with the tools they require for success.

This includes access to financial tools, too.

Let's look at client-facing employees as an example.

They should be able carry out straightforward purchases.

For example, team members should be able to arrange catering for an event or travel for a conference, without having to go through a convoluted claims process.

Similarly, senior team members – like IT officers – should be able to handle payments for new equipment or repairs as required.

Opting for the right business card can help your team get the tools they need.

Learn more about how the American Express Platinum Business Card can benefit your business today

Name Product Bonus points Rewards points per $ spent Complimentary travel insurance Minimum annual revenue Annual fee
American Express Platinum Business Card
ABN holders w/ $75,000 revenue. Get 350,000 bonus Membership Rewards Points when you spend $12,000 on eligible purchases in the first 3 months.

Compare other business cards here

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