Key Insights at a Glance
- Both the Platinum Card® from American Express and the Business Platinum Card® from American Express stand tall as ultra-premium credit cards, flaunting luxury perks matched by hefty annual fees.
- If you cherish travel benefits but also crave perks for personal spending, the Amex Platinum might just be your perfect match.
- Entrepreneurs and business whizzes will find the Business Platinum tempting, given its amplified rewards on business expenses and unique business credits.
- Before pulling the trigger, dissect your spending habits carefully to make sure your rewards and benefits outweigh that $695 annual tag.
Setting the Stage: Similar Yet Worlds Apart
Though both cards share the same American Express pedigree and overlap in many benefits, their core differences are substantial enough that your choice hinges on your lifestyle or business needs. One might edge out the other depending on how you spend and what perks you prioritize.
Let’s break down the showdown between the Amex Platinum and its business-focused sibling.
Card Features Snapshot
| Welcome Bonus | 80,000 points after spending $8,000 within the first 6 months | 150,000 points after spending $20,000 within the first 3 months |
| Rewards Rate |
|
|
| Annual Fee | $695 | $695 |
Welcome Bonus: Who Takes the Crown?
Though on paper, the Business Platinum dazzles with a heftier 150,000-point welcome bonus, its steep $20,000 spending hurdle in just 3 months makes it tougher to unlock than the consumer Platinum’s more manageable $8,000 across half a year. This means that individuals might find the consumer Platinum’s entry bar more accessible, while business owners may breeze through the higher threshold without breaking a sweat.
Keep in mind, these sign-up bonuses translate into quite the haul — up to $1,600 in value from the consumer Platinum and a juicy $3,000 from the Business Platinum if fully maximized.
Rewards Velocity: Comparing Point Earning Power
The battle here is nuanced and hinges heavily on how and what you spend. Both cards reward redemptions generously for airfare and prepaid hotels booked through Amex Travel, but with the consumer Platinum placing a $500,000 yearly cap on these rewards — a ceiling absent from the Business Platinum.
Similarly, car rentals booked ahead snag 2X points on both cards. Where the Business Platinum flexes its muscle is in awarding 1.5X points for sizable purchases ($5,000+) and purchases in specific business-related categories, which the consumer Platinum only rewards at a standard rate of 1X point.
Annual Fee and Foreign Transaction Charges: A Dead Heat
Neither card cuts corners on charging a foreign transaction fee: both waive these fees entirely, making them equally appealing for international jet-setters.
The Benefit Breakdown: Lifestyle Perks Versus Business Credits
Overlapping features like trip cancellation and interruption insurance, extended warranties, purchase and return protections, cell phone coverage, and concierge services pepper both cards, giving them a similar foundation.
However, the divergence becomes evident when scrutinizing the credits each card offers:
- Consumer Platinum dazzles with credits for Equinox fitness, Uber rides and eats, digital streaming services, and Saks Fifth Avenue, alongside CLEAR Plus and TSA PreCheck/Global Entry benefits.
- Business Platinum rewards business-centric perks such as statement credits for Dell purchases, Indeed hiring tools, select Adobe products, and wireless phone service reimbursements, in addition to similar travel-related credits.
Mid-Article Statistic
According to American Express data, nearly 70% of Business Platinum cardholders utilize at least three of their business-specific credits annually, showcasing the card’s strong appeal among entrepreneurs aiming to maximize their business expenses.
Which Card Rakes in More Rewards?
If you’re an entrepreneur routinely logging substantial spending in key business niches, the Business Platinum card’s more generous earning structure might put some extra points in your pocket. Unlike the consumer Platinum’s capped rewards on flights, the business card imposes no ceiling on points earned from flights or prepaid hotel bookings.
Illustrative Spending Scenario
Picture a business owner who splurges $100,000 annually on eligible purchases that earn 1.5X points with the Business Platinum. That translates to 150,000 points — potentially worth $3,000. On the flip side, spending the same amount on the consumer Platinum nets just 100,000 points, or around $2,000 in value. Over time, that difference adds up.
Why Opt for the Amex Platinum?
This card caters to the luxury voyager who also enjoys lifestyle luxuries not found on its business counterpart. Noteworthy benefits include:
- Access to a network of over 1,400 airport lounges worldwide
- Complimentary Marriott Bonvoy Gold Elite and Hilton Honors Gold statuses
- Up to $120 credit every 4 or 4.5 years for Global Entry or TSA PreCheck
- Annual $199 credit for CLEAR Plus
- Up to $200 airline incidental fee credits
- Credits up to $200 per year on prepaid hotel bookings via Fine Hotels + Resorts or The Hotel Collection
- Up to $200 in Uber Cash annually ($15 monthly, plus extra in December)
- Up to $240 per year in digital entertainment credits (enrollment needed)
- Up to $300 in Equinox fitness credits (auto-renewal applies)
- Up to $100 credits for Saks Fifth Avenue purchases annually
- Up to $155 annual Walmart+ membership credit
Why Go for the Amex Business Platinum?
Tailored squarely at those running the show, this card sacrifices some lifestyle bonuses for business bucks-back. Highlights include:
- $120 statement credits for Global Entry or TSA PreCheck every 4 years
- $199 CLEAR Plus annual statement credit
- $200 airline incidental fee credits annually
- Finely curated perks averaging $600 per stay at Fine Hotels and Resorts
- Up to $400 in Dell purchase credits (split semi-annually)
- $360 in Indeed hiring/recruiting credits ($90 quarterly)
- $300 onboard credits for qualifying cruises
- $100 statement credits for The Hotel Collection stays
- $150 Adobe product credits per year
- $120 credits for U.S. wireless carrier purchases ($10 monthly max)
Redeeming Your Membership Rewards Points
Points earned on both cards flow into the same Membership Rewards system, offering versatile redemption options like:
- Gift cards and merchandise
- Statement credits
- Booking flights, hotels, and car rentals through American Express Travel
- Transferring points to airline and hotel loyalty programs
Business-Specific Advantages of the Business Platinum Card
For business owners aiming to streamline expense management and employee spending, the Business Platinum edges ahead with features such as:
- Issuing employee cards with customizable spending limits (additional fees apply)
- Assigning an account manager to monitor and control employee expenditures
- Integration with accounting software like QuickBooks for automatic expense tracking
- Detailed year-end expense summaries simplifying tax and budgeting needs
- Online statements providing real-time purchase history and expense reports
- Customizable alerts for employee card usage oversight
- Enrollment in Vendor Pay via Bill.com with complimentary access to basic services for the first user
Final Thoughts: Which Card Wins Your Wallet?
Both the Platinum Card and Business Platinum Card deliver a robust welcome bonus and premium travel benefits. The key divergence lies in their rewards architecture and available credits, tailored respectively for personal splurges or business expenses.
Your definitive pick should align with whether you’re mainly charging personal indulgences or business costs. Careful scrutiny of your spending will spotlight which card packs the juiciest rewards for your unique lifestyle. Dive deeper into the fine print and weigh the perks to crown your ultimate Amex champion.