The Business Platinum® Card from American Express OPEN

Why People Love It
  • Enjoy premium travel perks like global airport lounge access, a 35% airline bonus, and concierge services
  • Easily add an authorized user with spending limits for peace of mind
  • No foreign transaction fees for international purchases
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  • Get premium travel perks
  • No foreign transaction fees
  • The card charges an ultra-high annual fee
  • It's a charge card, so you can't carry a balance from month to month
  • The card's base rewards rate is low.
Faveable Review

As a business owner, your primary goal is to maximize your profits, and it doesn’t matter how much it costs as long as you don’t reach diminishing returns.

So when choosing a credit card, wouldn’t your primary goal be to get the card that provides the most value, regardless of the cost?

The Business Platinum® Card from American Express OPEN isn’t cheap. Its $595 annual fee is steep, even for big spenders. But if you travel a lot for your business, you could get far more value out of the card than you’re paying each year.

Read on to learn more about the card and how you can maximize its value.

The Business Platinum® Card from American Express OPEN highlights

There’s a lot to like about this card. While it doesn’t offer any bonus rewards for business-related expenses, and its base rewards rate can leave you wanting, the card is packed with valuable perks that would excite even the most tired business traveler.

Perks include airport lounge access, credits for airline and security-related purchases, elite hotel status, rental car perks, and more.

And while the card’s base rewards rate isn’t all that special, you’ll get bonus rewards on eligible airfare and hotel purchases, plus extra rewards on large purchases..

The Business Platinum® Card from American Express OPEN rewards and perks

For ongoing rewards, you’ll earn 1 point per dollar spent on most purchases. The exceptions are as follows:

  • Earn 5 points per dollar spent on flights and prepaid hotels through
  • Earn 1.5 points per dollar on purchases of $5,000 or more, up to 1 million extra points per year (or $2 million in expenses).

When it comes time to redeem your points, you have several options. You can use them to:

  • Get gift cards
  • Book flights, hotels, and other travel
  • Pay with points at and other retail partners
  • Transfer your points to one of American Express’ several airline and hotel transfer partners

If you transfer your points, your points could be worth 1.9 cents apiece on average, according to The Points Guy. Unfortunately, you need to be pretty savvy with rewards programs to get that value.

If you choose to use your points to book flights through American Express, you’ll get 35% of your points back. You’ll typically get a value of 1 cent per point when booking travel. You’ll get the same valuation if you redeem your points for gift cards.

Paying with points, on the other hand, is a poor redemption choice; your points are worth only 0.7 cents apiece if you go this route.

The Business Platinum® Card from American Express OPEN benefits

If you think the card’s rewards program is complicated, you may consider the card’s suite of benefits dizzying, if not pleasantly so. Here’s a rundown of each of the card’s major perks:

  • $200 airline incidental fee credit: You’ll get this once a year. The only drawbacks are that you have to pick just one airline to use it on each year, and it only works on charges like baggage fees, in-flight purchases, etc. Upgrades and flight tickets are generally excluded.
  • Fee credit for Global Entry or TSA Pre✔: Both of these programs offer expedited airport security, and Global Entry does the same for U.S. customs clearance. You’ll get a credit worth up to $100 for the application fee for either of these programs every four years.
  • Airport lounge access: You’ll have complimentary access to The Centurion Lounge, International American Express Lounges, Delta SkyClub (when flying Delta), Priority Pass Select lounges, Airspace lounges, and Escape lounges.
  • Elite hotel status: You’ll get automatic gold status with the Starwood Preferred Guest and Hilton Honors loyalty programs. Those status levels include perks like room upgrades, premium in-room Wi-Fi, and more.
  • Complimentary Wi-Fi access: You’ll get a free membership to Boingo, which has more than 1 million Wi-Fi hotspots around the world.
  • In-flight Wi-Fi: You’ll get 10 complimentary single-flight Wi-Fi passes from Gogo Inflight so you can work while you’re in the air.
  • Fine hotels and resorts perks: If you book a hotel through Fine Hotels and Resorts, you’ll get plenty of benefits, including room upgrades, late checkout, daily breakfast for two, complimentary Wi-Fi, and a unique benefit with each hotel and resort.
  • VIP experiences: Get access to premium seats for certain cultural and sporting events.
  • Premium rental car privileges: Get a complimentary membership in premium rental car programs, which offer special discounts and upgrades.

The more you travel, the more value you’ll get out of this card. If you don’t travel often, however, it might not be worth the annual fee.

The Business Platinum® Card from American Express OPEN costs and fees

The main cost you need to keep in mind with this card is its annual fee, which is $595. It’s not waived the first year either, so you’ll need to use the card and its benefits frequently to make it worth it.

The card doesn’t charge any interest because it’s a charge card. These cards require that you pay your balance in full each month, so it’s not possible to carry a balance from month to month unless you sign up for American Express’s Pay Over Time program.

Through Pay Over Time, you can pay purchases of $100 or more over time with a variable interest rate of around 20%. In other words, it’s costly, and you should avoid it if you can.

If you’re not in the Pay Over Time program, and you’re late on a payment, you’ll pay a fee of $38 or 2.99% of the late amount, whichever is greater. That could get pricey if you spent a lot during the month. A late payment of $10,000, for instance, would cost you $299.

Does The Business Platinum® Card from American Express OPEN make sense for me?

This card can be a solid option for businesses that spend a lot and business owners who frequently travel. The card is packed with elite travel benefits that can make any trip a luxurious one.

But if you can’t stomach the card’s annual fee, or you want bonus rewards for certain spending categories outside of travel, you might want to compare this card with other top business credit cards.

As you do so, consider how much value you’d get out of each card, and pick the one that gives you the most bang for your buck.


Application Process: Apply online and get a response within 60 seconds.

Rewards: Earn 5X more points for each dollar of eligible purchases made when you book on the American Express travel website. Earn 1.5X more points for every eligible purchase of $5,000 or more. All other purchases earn 1 point per dollar.

APR: None; it's a charge card, so your balance is due in full each month.

Annual Fee: $595

Featured in
  • Limited Time Offer: Earn up to 100,000 Membership Rewards® Points.
  • Earn 50,000 Membership Rewards® points after you spend $10,000 & an extra 50,000 points after you spend an additional $15,000 all on qualifying purchases within your first 3 months of Card Membership. Offer ends 8/8/18.†
  • Get 5X Membership Rewards® points on flights and prepaid hotels on
  • Get 50% more Membership Rewards® points. That's 1.5 points per dollar, on each eligible purchase of $5,000 or more. You can get up to 1 million additional points per year.
  • 35% Airline Bonus: Use Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline, and you can get 35% of the points back, up to 500,000 bonus points per calendar year.
  • You can also receive 35% points back on all First and Business class flights, with all airlines available through American Express Travel.
  • You can enjoy access to The American Express Global Lounge CollectionSM offering access to the most lounges across the globe, when compared with other U.S. credit card offerings. As of 11/2017
  • Terms Apply