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Alright, business high-flyers, let’s talk about the American Express Business Platinum Card – a card dripping in perks for small business owners, sole traders, and ambitious entrepreneurs. With a £650 annual fee, can the benefits really stack up? Let’s get into it.
In This Post
Earning Points: The Lowdown
- Points Accumulation:
- 1 Membership Rewards point per £1 spent on everyday purchases
- Bonus: Earn an extra 10,000 points every month you spend over £10,000 (equivalent to 2 points per £1)
- Transfer Rate: 1:1 to Avios, Virgin Points, and other major airline programs
- What’s a Membership Rewards Point Worth? Typically, 0.75p – 1p when used for flights; other redemptions include hotel points and gift cards.
- Membership Rewards Points: Points are awarded to the individual cardholder, not the company – meaning you personally control your rewards.
Essential Card Details
- Annual Fee: £650 (pro-rata refund available if cancelled)
- Representative APR: N/A (charge card, balance must be cleared monthly)
- Minimum Personal Income: £35,000+
- No company turnover or profitability requirements
- No need to have been trading for a minimum period apply once you have a UK bank account.
Note: The Business Platinum is a charge card, not a credit card. Your balance must be paid in full each month. Depending on when you make a purchase, you’ll have up to 54 days interest-free before payment is due.
Is the Annual Fee Justifiable?
- First Year: 50,000 Membership Rewards points (worth up to £500 in travel) + £200 Amex Travel credit + £150 Dell credit + comprehensive insurance = substantial value.
- Ongoing: With lounge access, hotel statuses, insurance and travel credits, it’s valuable if you travel often.
- Pro Tip: Cancel anytime for a pro-rata fee refund once you’ve banked your bonus.
Lounge Access
- Priority Pass: Unlimited access for you and a guest to over 1,300 lounges worldwide
- Additional Priority Pass for a second cardholder (partner, spouse, colleague)
- Extra guests: £20 per guest beyond your free guest allowance
The Business Platinum Welcome: Sign-Up Bonus
Spend £6,000 within three months, and you’ll snag 50,000 Membership Rewards points.
- Equivalent to 50,000 Avios or Virgin Points
- Also transferable to hotel loyalty programs like Hilton Honors, Marriott Bonvoy, Radisson Rewards
- Or £250-£500 worth of High Street vouchers if you’re feeling spendy closer to home
Who Gets the Bonus?
- Everyone, no previous cardholding restrictions!
- If accepted, you will get the bonus if you meet the spending target.
Travel with the Business Platinum Card: Yay or Nay?
- Yay: Unlimited lounge access, £200 Amex Travel credit, gold-plated insurance coverage, top-tier hotel statuses
- Nay: 2.99% foreign transaction fee on purchases abroad
Dodge Amex’s 3% foreign fee with Currensea instead – it links to your bank account and only charges 0.5%. Check it out here.
You might also want to pair your Amex with a backup card for suppliers that don’t accept Amex. I would recommend the Capital on Tap Visa – no annual fee, 1 Avios per £1 spent, and no FX fees abroad.
Perks That Scream “Business Class”
- £200 Amex Travel Credit: Redeemable against flights, hotels, car hire, and more (must be used in one transaction)
- £150 Dell Credit Annually: £75 between Jan-June + £75 between July-Dec
- £300 Indeed Credit: £75 cashback per quarter on recruitment ads
- Travel Insurance: Comprehensive cover up to age 80, with NO excess
- Hotel Statuses:
- Marriott Bonvoy Gold – What Does Marriott Bonvoy Get You with the Amex Platinum?
- Hilton Honors Gold – What Does Hilton Gold Get You with the Amex Platinum?
- Radisson Rewards Premium – What Does Radisson Rewards Premium Get You with the Amex Platinum?
- MeliaRewards Gold – What Does MeliáRewards Gold Get You with the Amex Platinum?
- Fine Hotels & Resorts Access: Room upgrades, $100 property credits, free breakfast, guaranteed 4pm checkout
- Free Digital Subscription: The Times and The Sunday Times (worth over £300 annually)
- Car Rental Perks: Benefits with Avis Preferred and Hertz Gold Plus Rewards
Final Verdict: Is Amex Business Platinum Worth It?
If you’re a sole trader, entrepreneur, or small business owner, the American Express Business Platinum Card packs serious value. The 50,000-point welcome bonus, £200 Amex Travel credit, unlimited lounge access, hotel statuses, and comprehensive insurance could easily outweigh the £650 fee – especially when considering tax deductibility.
Running a business? This card doesn’t just upgrade your travel – it upgrades your entire operation.
Ready to bring Business Class to your business? Apply for Amex Business Platinum here.
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