AmEx Platinum vs. AmEx Business Platinum [Detailed Comparison]
Regardless of what features you’re after in a credit card, you’ll likely come across one that matches your needs because there are plenty of options out there. One of the most well-known is the American Express issuer with its AmEx Platinum Card, which has been a go-to option for many people over the years. What you might not realize is that there’s another exciting option called the AmEx Business Platinum Card, which brings some unique features to the table.
In our AmEx Platinum vs Business Platinum guide, we break down the key differences between the two in terms of features, enrollment, rewards, fees, and more.
Key Features of AmEx Platinum vs AmEx Business Platinum
Before we dive into the various perks and peculiarities of American Express Platinum vs Business Platinum cards, let’s lay out a comparison in a table below.
Features | AmEx Platinum Card | AmEx Business Platinum Card |
|---|---|---|
Annual fee | $695 | $695 |
Welcome bonus | 125,000 reward points are given for spending $8,000 on eligible purchases within the first 6 months. | 200,000 reward points are given for spending $20,000 on eligible purchases within the first 3 months. |
Rewards | 5 reward points per dollar on prepaid hotels and flights through Amex Travel (with an annual limit of up to $500,000) 1 reward point per dollar on all ineligible purchases | 5 reward points per dollar on prepaid hotels and flights via Amex Travel 1.5 reward points per dollar on eligible business-related purchases (hardware, construction materials, electronic goods, etc.) + on any other purchases exceeding $5,000 1 reward point per dollar on all ineligible purchases |
Select travel perks | Airport lounge access Marriott Bonvoy Gold Elite status Hilton Honors Gold status Insurance on checked baggage (up to $2,000) Secondary rental car coverage Trip interruption or cancellation coverage (up to $10,000 per covered trip; a maximum of $20,000 per eligible account for a 12-month period) | Airport lounge access Marriott Bonvoy Gold Elite status Hilton Honors Gold status Insurance of your checked baggage (up to $2,000) Secondary rental car coverage Interruption or cancellation of your trip (up to $10,000 per covered trip; a maximum of $20,000 per eligible account for a 12-month period) |
Main statement credits | Up to $200 Hotel credit Up to $200 Airline fee credit Up to $100 yearly Saks Fifth Avenue credit Up to $300 Annual Equinox credit Up to $200 prepaid Hotel credit Up to $240 digital entertainment credit | Up to $150 Adobe credit (until the end of 2024) Up to $360 Indeed credit (until the end of 2024) Up to $400 Dell credit (until the end of 2024) Up to $200 Airline fee credit Up to $120 Wireless credit |
Difference Between AmEx Platinum Business and Personal Cards: Eligibility and Application Process
Now that you’re familiar with the cards' features, let’s dive into the eligibility criteria for the AmEx Business Platinum vs Personal Cards.
While AmEx doesn’t explicitly state the requirements, it’s good to keep in mind that any AmEx premium card generally requires you to have a good to excellent credit score. You can check whether you are eligible for an AmEx Platinum Card without impacting your credit score on the official website.
As for the application process for the personal premium card, here’s what details are required:
- Full name;
- Date of birth;
- Email address;
- Mobile phone number;
- Home address;
- SSN;
- Income information (total income, non-taxable income (optional), income source).
Now, let’s walk through the business card application in our American Express Platinum vs American Express Business Platinum guide. Even though the AmEx Business Platinum Card is geared toward businesses, you don’t need to run a large-scale, established business to apply. You can also qualify for this card even if you work as a freelancer or have a side hustle.
You can apply for the business card online by completing a form where you need to provide the following information:
- Email address;
- Business information (legal business name, DBA name (optional), address, phone number, industry type, number of employees, revenue, years in business, federal tax ID);
- Personal information (full name, SSN, home address, date of birth, income details).
If you already have an American Express account, you can log into your account and simply fill out the business-related information.
AmEx Business Platinum vs AmEx Platinum: Rewards and Points
If you’re shelling out $695 per calendar year for these cards, you’ll obviously want to know everything about the rewards structure of American Express Business Platinum vs Personal Card.
Both cards let you rack up points in your Membership account, based on specific conditions. The points then need to be redeemed in one of the following ways:
- Amex Travel redemption: 1 point equals 1 cent when booking Fine Hotels and Resorts or flights via Amex Travel. For other travel-related purchases, 1 point equals 0.7 cents. It should be noted that AmEx Business Platinum cardholders can also get a 35% rebate when booking a first-class or a business flight.
- Cashback: If you choose to redeem your points for cashback, 1 point will equal 0.6 cents.
- Gift cards: In this case, the redemption rate varies from 0.5 to 1 cent for 1 point.
- Amazon shopping: Redeem points at a rate of 0.7 cents per point when shopping on Amazon.
Cardholders can also transfer their points to travel partners. This is often the most profitable option, especially during relevant transfer bonuses. Whether you use a business or a personal card, you can move points to such programs, including but not limited to:
- Qatar Airways Privilege Club;
- British Airways Executive Club;
- Marriott Bonvoy;
- Virgin Atlantic Flying Club;
- Singapore Airlines KrisFlyer;
- Cathay Pacific Asia Miles, and more.
What are the Main Fees and Costs for These Premium Cards?
At the beginning of our AmEx Business Platinum vs Personal Platinum guide, we mentioned the $695 annual fee, but what about other fees?
For personal platinum cardholders, there’s a cash advance fee of 5% or $10 (whichever is higher). You could also face penalty fees of up to $40 for a late or returned payment.
For business cardholders, returned payments come with a $39. For late payments, you will be charged either $39 or 2.99% of the amount due (whichever is higher).
If you’re using either card internationally, the good news: there are no foreign transaction fees.
Final Thoughts
As you can see from this American Express Platinum Business vs Personal Card guide, the two cards share a lot of similarities. Both are premium choices with steep annual fees, so it only makes sense to get either one if you can fully benefit from their reward programs. If your spending is more consumer-focused, AmEx Platinum Card might be a better option, offering plenty of travel benefits and credits for everyday purchases.
On the other hand, if it seems that you will earn better rewards from an increased rate of business-related purchases, the AmEx Business Platinum is the way to go—especially with its more generous welcome offer.
