Talking about business credit cards is our absolute favorite topic of discussion! Just kidding; I’d rather talk to you about the NBA Finals this weekend or the fact that I’m about to leave on a (MUCH needed) tropical vacation with my husband and two of our favorite couples – no kids allowed – or that we’re only beginning our fourth week of summer vacation and I know more about year-round boarding school in the Swiss Alps than you could ever imagine possible (hey, a mom of four can dream, can’t she?). But, in reality, the fun things in my life right now are not going to help you with your business needs, so I’m going to see how much fun I can make our next business credit card review.
We talked about the Chase Ink card last week, and now we’re going to talk about another amazing credit card for business owners. This is the Business Platinum Card from American Express, and it is perfection for those who love to travel, need to travel or just want a business credit card that might allow you to do a little traveling. It might not be the right card for you and your business needs, but it might just be the card you’ve been looking for your entire life. I don’t know, but I want you to know I’m here to find out with you.
The Thing to Know
What’s most important to know is that you get a great bonus offer if you can meet a few small stipulations when you first open this account. Anyone who is able to spend $5,000 in the first three months of opening an account with this card is going to earn 40,000 Membership Rewards points to use, and that’s a lot of points to use as you see fit.
The trick is to spend the $5,000 in the first 90 days, but we know you can do it. I know it sounds like a lot, but it really is not. It’s actually pretty reasonable when you get down to it and do a little math. If you break it up over the course of three months, it’s actually only $1,667 per month. That is totally doable and completely reasonable for any business big or small.
The other small little fact of the matter to know is that this card does come with a slightly (and by slightly we clearly mean exorbitant) annual fee of $450. It might be a deal breaker for you, and we totally get that.
What You Get
What we really love about this card is that it gives you a lot of perks in the airport should you travel often. It makes it worth the annual fee when you consider you have access to numerous airport lounges each and every time you travel, including the following:
- Centurion Lounges
- Airspace Lounges
- Delta Sky Clubs
The other perk is that you’re getting to enroll in the Priority Pass Select program free of charge at your convenience.
Other exceptional perks include small things that really do add up. How much do you spend on Wi-Fi when you travel? I know that it’s not cheap to access it when you’re in the airport all the time. Those $5 and $10 fees add up fast, and free Boingo and Gogo and in-air Wi-Fi is almost priceless. My husband and I travel for fun multiple times throughout the year, and I can assure you that the free Wi-Fi will quickly negate the cost of your annual fee.
Another super feature of this card for travelers is the $200 annual credit you receive. You can use this to pay for your checked luggage fees and your airline incidentals. Those little bottles of (not-so-good) wine really do add up, you know.
However, what we really love about the Business Platinum Card from American Express is that it’s a charge card. What does that mean? Well, it means you’re not going to send your business into debt since it means you have to pay off the balance in full each and every month. It might not be what some people are looking for in a business credit card, but it’s what we think is the best option for every credit card.
At the end of the day, you might not think this card is worthwhile. However, let me just point out that if you purchase a one-year pass to just the Delta Sky Club lounges in any airport in the world, you’re paying $450. That’s the annual fee that so many people feel is a drawback to this card. You’re paying that for access, but you’re getting access to so many other lounges, too. It is a great travel card, and we love that about this amazing business credit card.
Photo by Getty Images