The Platinum Card from American Express vs. The Business Platinum Card from American Express

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If you’re a fan of American Express credit cards and in the market for a new one, there’s no doubt you’ve considered one of the issuer’s top, premium-level cards: The Platinum Card® from American Express.

Recent changes to the card have renewed consumers’ interest in other Amex cards, such as The Business Platinum Card® from American Express.

Even though the Business version of the Amex Platinum card has gotten some of the same new benefits as the Amex Platinum card since the change, there are still major differences between the two.

These differences could mean that one card is better than the other for certain types of spenders. Here’s what we found in the battle of the Amex Platinum versus the Amex Business Platinum card and which card makes sense for which type of spender.

Main Details

Card The Platinum Card® from American Express The Business Platinum Card® from American Express
Welcome bonus 100,000 Membership Rewards points after you spend $6,000 on purchases on your new card in your first 6 months 100,000 Membership Rewards points after you spend $15,000 on eligible purchases within the first 3 months of card membership
Rewards rate
  • Earn 10X points at eligible restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases during your first 6 months of card membership
  • 5X points on up to $500,000 spent on directly-booked airfare and flights and prepaid hotels booked through American Express Travel (per calendar year)
  • 2X points on prepaid car rentals through American Express Travel
  • 1X points on all other purchases
  • Earn 5X Membership Rewards points on flights and prepaid hotels booked with AmexTravel.com
  • 2X points on prepaid rental cars booked through AmexTravel.com
  • 1.5X points per dollar spent on purchases of $5,000 or more
  • 1X points on all other purchases
Annual fee $695 $595
Other benefits and perks*
  • Up to $200 airline fee credit
  • Up to $200 for prepaid hotel booking credit
  • Up to $240 digital entertainment credit
  • Up to $300 Equinox credit
  • Up to $200 in Uber Cash for rides and delivery
  • Airport lounge access
  • Credit for Clear and Global Entry or TSA PreCheck
  • Up to $200 in airline fee credits
  • Up to $200 in Dell credits
  • Airport lounge access
  • Credit for Clear and Global Entry or TSA PreCheck
  • 35% points bonus when using Amex points to book qualifying airfare through AmexTravel.com (up to 500,000 bonus points per year)

*Terms and conditions apply

The Platinum Card from American Express vs. The Business Platinum Card from American Express highlights

Because both cards are from the same issuer, they have a lot in common when it comes to some card perks and benefits but there are some differences to note when deciding which card you’ll get.

Take a look at this breakdown for the main differences between the cards you should be aware of.

Welcome bonus winner: The Platinum card (with a caveat)

Technically, the welcome bonuses for both cards are exactly the same, but the Business Platinum card requires more spending to get the same 100,000 Membership Rewards points.

The American Express Platinum card requires you to spend only $6,000 within the first six months of opening your account, while the Business Platinum card requires cardholders to spend $15,000 within the first three months of account opening. These spending requirements are relative, as a business owner would likely meet the spending requirements much easier than an individual.

However, the Amex Platinum does have a slight edge here: the potential for an elevated welcome bonus through preapproved offers in the CardMatch tool. CardMatch matches credit card applicants to prequalified and preapproved offers based on their credit profiles. There are reports of CardMatch users getting welcome bonuses of 125,000 Membership Rewards points or even up to 150,000. Getting this offer from Amex is not guaranteed.

No matter how much of a bonus you get with either card, remember that the value of your welcome bonus can be increased, up to double, when you redeem points with Amex travel partners, according to The Points Guy calculations.

Rewards rate winner: It depends

This is also somewhat of a relative comparison that boils down to the type of spending you’re doing on your Amex card. If you’ll be dining out and purchasing products from Shop Small in the U.S, your rewards rate will be 10X for the Amex Platinum card (on up to $25,000 in combined  Shop Small and restaurant purchases during your first six months of card membership).

Travel spending on airfare and prepaid hotels booked through American Express Travel for both cards reap 5X rewards. Prepaid car rentals through American Express Travel net 2X rewards on both cards, too.

If you are a business owner who makes purchases of $5,000 or more at a time with the Amex Platinum Business card, you’ll get 1.5X rewards, whereas these types of purchases with the consumer Amex Platinum will earn you only 1X rewards.

In this case, you can have an advantage with rewards rates, depending on the type of purchases you make.

Annual fee winner: The Business Platinum Card

The Business Platinum Amex wins out with just a $595 annual fee—a full $100 less than the Amex Platinum.

To be fair, the consumer Platinum card’s newly increased annual fee, $695, up from $550, also comes with upgraded benefits. While the Business Platinum card added some new perks, the consumer Platinum technically offers more potential value in statement credits and perks.

Benefits winner: The Platinum card

Although there are some overlapping benefits with both cards—trip cancellation/interruption/delay insurance, extended warranty, purchase protection, access to American Express experiences, cell phone protection, concierge services and many more, the Amex Platinum wins out because of the additional credits.

The business version of the card doesn’t have competing credits for Equinox, digital entertainment, Uber and others that the consumer version has.

If you are interested in the full offering of card benefits with both cards, you can check the terms and conditions on the American Express website for all the details pertaining to each of the Platinum cards.

Which card offers the most credits?

Because many of the cards’ benefits overlap, the next best way to compare the cards is to look at the credits offered. If you can take advantage of the credits, you could easily end up justifying the card’s annual fee.

Here’s a highlight of the credits offered by each card. Amex Business Platinum vs. Amex Platinum credits

Credit* Amount Amex Platinum Amex Business Platinum
Airline credit $200
Prepaid hotel bookings at Fine Hotels + Resorts or The Hotel Collection $200
Credit on qualifying hotel purchases $100
Clear credit $179
Global Entry and TSA PreCheck application fee $100
Digital entertainment credit $240
Saks credit $100
Equinox credit $300
Uber credit $200
Dell Technologies credit $200
Global Dining Access by Resy N/A
Priority Pass Select N/A
Wheels up (private jet program) N/A

*Terms and conditions apply

In this case, you can see that the Amex Platinum is a clear winner for credits. Below is a more thorough explanation of how they work and what the total value for the credits are.

Why should you get the American Express Platinum card?

In addition to the welcome bonus and rewards structure, the new Amex Platinum card includes more than $1,400 in credits plus additional perks.

Additional benefits

  • Up to $100 application fee credit for Global Entry or TSA PreCheck (every four years)
  • Up to $179 in Clear membership statement credits by paying with your card (annually)
  • Up to $200 in airline fee credits (annually) for incidentals with a select airline
  • Up to $200 in credits for prepaid hotel bookings at Fine Hotels + Resorts or The Hotel Collection properties via American Express Travel (annually)
  • Up to $200 in Uber Cash for rides and delivery ($15 per month, plus an extra $20 in December, available to basic cardmembers only)
  • Up to $240 each year in digital entertainment credits (up to $20 in total statement credits per month) toward Peacock, Audible, SiriusXM and The New York Times subscriptions (enrollment required)
  • Up to $300 in Equinox fitness membership credits per year (up to $25 per month) toward in-club or digital membership fees, including Equinox All Access, Destination, E by Equinox or Equinox+ (enrollment required)
  • Up to $100 for Saks Fifth Avenue purchases annually ($50 for January through June and $50 for July through December
  • $100 credit on qualifying hotel purchases (per 2+ consecutive night stays with a brand in The Hotel Collection)

The benefits of the Amex Platinum are tailored toward luxury travelers, but they also include some lifestyle perks not offered on the Business Platinum card.

Redemption options

Both cards share similar redemptions options since they come from the same issuer.

You’ll earn points in the  American Express Membership Rewards program, which you can redeem for merchandise, gift cards, statement credits, travel and rental cars booked through AmexTravel.com or transfers to Amex airline and hotel partners.

Transfer values vary by partner but typically convert at a 1:1 ratio, but travel can be as much as 2:1.

Other redemption options include:

  • Using points to cover card charges, like a statement credit
  • Paying with points at checkout with select merchants and prepaid rental cars booked through American Express Travel
  • Redeeming points for gift cards
  • Shopping with points at partner merchants

Some of these options may have point values less than the standard 1:1 ratio however.

Recommended credit score

This is a premium Amex card, so you’ve got to have top-notch credit. To increase your approval odds for this card, you’ll need a credit score in the range of good to excellent, or between 670  and 850.

Why should you get the Business Platinum Card from American Express?

You’ll find that the Amex Business Platinum card doesn’t have as many credits as the Amex Platinum, but there are similar offerings when it comes to card perks and benefits.

All in all, the credits and perks of the Amex Business Platinum are more tailored to small business owners, as you’d expect. You won’t get quite as many lifestyle benefits, but you’ll pay a lower annual fee and enjoy business-critical perks like employee card management.

Redemption options

As mentioned, redemption options are similar to the Amex Platinum. You’ll earn Membership Rewards points, which can be redeemed for merchandise, gift cards, statement credits, travel and rental cars booked through AmexTravel.com or transfers to Amex airline and hotel partners.

Recommended credit score

Like its nonbusiness counterpart, this card requires a credit score between good to excellent or between 670 and 850. You also will need to provide some basic information about your business to ensure you are a good candidate.

The bottom line

Both the business and consumer versions of the Amex Platinum card offer a generous welcome bonus and similar rewards structures for travel-related spending. The main difference is the annual fee, rewards on restaurants, small business spending and credits.

Which card you should get will really depend on if you will be using this card for personal or business use.

If you are an entrepreneur that puts large business purchases on your credit card, you could stand to earn slightly more in rewards, plus the opportunity to start building business credit. However, if you can score a preapproved offer for the Amex Platinum through CardMatch with 125,000 or 150,000 bonus points, you might feel like this is more valuable.

To find the best rewards card for you, analyze your spending patterns, then choose the card that helps you rack up the most rewards based on your normal spending categories. Each person will have a unique financial scenario that justifies their choice between the Amex Business Platinum and the Amex Platinum.

Written by
Aja McClanahan
Personal Finance Writer
Aja McClanahan is an author, blogger and speaker on personal finance and entrepreneurship. Aja is the author of "How a Mother Should Talk About Money with Her Daughter."
Edited by
Senior Editor, Credit Card Product News
Reviewed by
Credit Cards Reporter