American Express Business Platinum Review – Forbes Advisor - Forbes

American Express Business Platinum Review – Forbes Advisor - Forbes


American Express Business Platinum Review – Forbes Advisor - Forbes

Posted: 17 Jul 2020 12:00 AM PDT

Earning Rewards

Earn 75,000 Membership Rewards® points after you spend $15,000 on qualifying purchases within your first 3 months of Card Membership. That might be a lot to spend in three months for some small businesses, and that may be particularly true during the COVID-19 pandemic.

Purchases on The Business Platinum Card earn 5 Membership Rewards points per dollar spent on flights and prepaid hotels through amextravel.com. All other eligible purchases earn 1 Membership Rewards point per dollar spent. However, you'll earn 50% more points on eligible purchases of $5,000 or more, up to 1 million additional points per calendar year.

Redeeming Rewards

Membership Rewards points are regarded as among the most valuable bonus currencies due to the extensive number of ways you can redeem them.

The most valuable redemptions options include transferring points to one of Membership Rewards' 19 airline or three hotel partners. Some of these redemptions can be complicated but incredibly valuable.

For example, it's possible to transfer Membership Rewards points to Virgin Atlantic Flying Club and book Delta's new Delta One Suites business class from Atlanta (ATL) to Tokyo Haneda (HND) for only 60,000 points and $5.60 in taxes. Pair that with one of Amex's 25% transfer bonuses, and you may only need 48,000 Membership Rewards points.

While that redemption may be a little complicated for some, other transfer partners are more straightforward. Other Membership Rewards airline transfer partners include Delta, JetBlue and Hawaiian Airlines. You can also transfer Membership Rewards to Choice, Hilton and Marriott.

Business Platinum cardholders can purchase flights through AmexTravel at a rate of one cent per Membership Rewards point. Even better, if you redeem points for an economy flight on your chosen airline or business or first class on any airline, you'll get a 35% rebate on the points you redeemed—up to 500,000 points back per calendar year.

For example, you can redeem 11,880 points for a $118.80 round-trip flight from Dallas/Fort Worth (DFW) to Las Vegas (LAS).

If your chosen airline is American Airlines, you'll receive a 4,158-point rebate, for a net cost of 7,722 points. That means you'll effectively get 1.54 cents per point in value toward flights on your selected airline and for business and first-class flights purchased through Amex Travel.

The next level of redemptions includes upgrading flights with points, booking Fine Hotels & Resorts, paying for NYC Taxis and redeeming for certain travel, dining and retail gift cards. All of these redemptions give you one cent in value per point.

The least-valuable redemption options include paying with points at checkout at Amazon, Amex Express Checkout, Best Buy, Boxed, Dell.com, Expedia, Grubhub, JustGiving, Newegg, PayPal, Rite Aid, Saks Fifth Avenue, Seamless or Walmart—where you'll get just $70 in value per 10,000 points. You can also redeem Membership Rewards points toward prepaid hotels, cruises, vacations and Expedia.com purchases at 0.7 cents per point.

Worst of all, you can redeem points to pay for Ticketmaster purchases or through the Shop with Membership Rewards store at a paltry 0.5 cents per point.

Rewards Potential

The Business Platinum Card earns bonus points on airfare and hotel purchases through Amex Travel and on purchases of more than $5,000. Thus, the number of points your business can earn is directly tied to how much you're able to utilize these bonus opportunities.

Since this is a premium business card, let's assume a minimum of $5,000 in eligible purchases per month. Of that spending, let's assume that the business spends $500 per month in airfare and prepaid hotel purchases through Amex Travel, and that no single purchase is more than $5,000.

The $6,000 in annual airfare and prepaid hotel purchases through Amex Travel would earn 30,000 Membership Rewards points. The remaining $54,000 in annual spending would earn one point per dollar, for 54,000 points of earnings.

This means your business would earn a total of 84,000 points each year through spending on The Business Platinum Card. If we assume a redemption rate of 1.5 cents per point—either by transferring points to airlines or redeeming for flights through Amex Travel—that's $1,260 worth of value each year. And that's before factoring in the welcome bonus earned the first year.

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