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American Express Platinum Business vs Personal

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With hefty annual fees, the Business Platinum Card® from American Express is packed with upscale travel perks and credits – but should you get it for business or personal use? While the business card and the Platinum Card® from American Express (personal card) mirror each other in many ways, there are some key differences that can swing your decision. 

I’m comparing American Express Platinum business vs personal so you can determine the best fit based on how you typically use premium cards.

American Express Platinum Business vs Personal General Overview

American Express is notorious for its expensive and luxurious cards. Its Platinum cards for business and personal use are the most popular. It can be hard to choose American Express Platinum business vs personal.

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Both cards are abundant in rewards. Although they incur a hefty annual fee and APR, they offer coveted perks in exchange.

Overview of Business Platinum Card® from American Express 

American Express markets this card mainly for small business owners. However, this card seems best for businesses that spend thousands of dollars monthly on large purchases. 

Consequently, those businesses would be generating thousands of dollars monthly. Hence, their production would be large-scale.

Welcome Offers

Several features make this card suitable for big businesses. Its $695 annual fee is one. Another is its welcome bonus offer. You must spend $15,000 within the first three months to get 120,000 bonus points (see rates and fees).

Both Amex fees and expenses can be offset only if you make more than that, something small businesses may generally find challenging.

Travel Benefits

Amex Platinum Business has a lot of earning opportunities and travel-related perks. You get airport lounge access and an annual allowance to cover checked bags, seat assignments, and lounge passes. You also get a TSA Precheck fee reimbursement.

You get complimentary Gold status at Marriott Bonvoy and Hilton hotels, too. You get an instant hotel elite status upon arrival at these hotels, too. This entitles you to welcome points and a discount on hotel purchases. You also get early check-ins and late check-outs, which are availability-based.

You get exclusive travel insurance with this card. You can claim compensation for two flight delays per year. Additionally, you are entitled to trip cancellation and interruption insurance. You can also claim up to $10,000 coverage for your stolen, lost, or damaged baggage.

Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefits guide for more details. Underwritten by Amex Assurance Company.

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Reward Opportunities

You get five points per every dollar you spend on booking flights and hotels. You should book through the Amex Travel portal to get reward points

You get $100 compensation every 4.5 years for Global Entry. If you have a CLEAR® Plus membership to skip the long ID checking line, Amex pays you its $189 fee back. 

You can earn 1.5x points back on business expenses, software, and shipping purchases and on qualifying purchases of $5,000 or more. You get a price cap of $2 million per year. Furthermore, you get statement credits of up to $400 per year for purchases from Dell Technologies and statement credits of up to $150 per year for purchasing Adobe services. If you use an Indeed subscription for hiring, you get up to $360 in statement credits for that, too. Enrollment required.

Overview of Platinum Card® from American Express (Personal)

You can get this card if you want to enjoy the luxurious perks and the special treatment Amex cardholders receive. Although it offers cash back, American Express Platinum Card is not an exclusive rewards card. Its main feature is the statement credits in various categories, including travel, fitness, and shopping.

Welcome Offers

You get a lucrative welcome offer of 80,000 bonus points. You must spend $8,000 within the first six months of becoming a card member. It will be easy for you to meet if you have to pay off one or multiple purchases. 

Personal Perks

You get a whole host of perks with this card. Although it incurs a $695 annual fee (see rates and fees), you can offset it through the statement credits you receive. That said, you maximize your card for all its worth to get maximum credits.

You get:

  • Up to $200 statement credit if you book your hotel through the Amex Travel portal. You must book at The Hotel Collection or the Fine Hotels + Resorts to qualify for the credit. You can earn while having a nice getaway (two-night-stay minimum required).
  • Up to $100 statement credit for shopping at Saks Fifth Avenue or its online store. You get to experience luxury retail in full and earn extra cash… a win-win! 
  • Up to $200 Uber cash on purchasing Uber ride service or Uber Eats. You also get VIP status if you spend here with your Amex Platinum. You can spend it with the reassurance that you get compensation for it.
  • Up to $300 statement credit for Equinox membership. You get personal fitness training and spa treatments at an exclusive location. What’s more, you get a chunk of your money back!
  • Up to $300 statement credit for buying a Soul Cycle at-home exercise bike. Note that you must have an Equinox membership to qualify.
  • Up to $240 for subscribing to digital entertainment. You get an up to $20 monthly statement credit for buying a Disney bundle, Wall Street Journal, New York Times, etc.
  • $155 for buying membership at Walmart. This statement credit reimburses your $12.95 monthly membership fee plus tax. 
  • $100 reimbursement for Global Entry every 4.5 years if you have purchased it. Alternatively, you will also get your up to $85 TSA Precheck fee back every 4.5 years later. 
  • Up to $189 if you are a CLEAR Plus member and breeze through 100+ airports in the US. Amex returns you your annual membership charge. Note that it is auto-renewable.
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Reward Opportunities

Amex Platinum offers very restricted bonus points categories. You get 5x points for booking flights with this card through American Express Travel. You get a price cap of $500,000 to earn 5x points. After this limit, you earn the regular 1x.

You also get 5x points on booking prepaid hotels through Amex Travel. This means that you get the reward only if you pay when you book. If you plan to pay when you depart for the hotel or when you arrive at the front desk, you won’t get the extra points. 

Comparing Amex Platinum Business and Amex Platinum Personal

Both Platinum cards have unique and similar features that make up their framework. Since both are from the same genre, both carry the famed “luxury” label attached to Platinum.

Similarities

Platinum business and personal cards are similar because:

  • You get 5x points on booking flights and hotels through the Amex Travel portal.
  • You get a $200 annual travel credit to cover miscellaneous travel costs.
  • Both cards offer a $100 reimbursement for Global Entry.
  • You get $189 back each year if you are a CLEAR Plus member.
  • You have to pay a $695 annual fee for both cards.
  • You get access to Amex airport lounges.
  • You get insurance for trip and baggage mishaps.
  • You can apply for Gold Elite status for Marriott Bonvoy and Hilton hotels.
  • You have to pay a 0% foreign transaction fee (see Plat [consumer] rates and fees and Business Plat rates and fees).

Differences

Both cards are different because:

  • Platinum Business offers 5x points on flights booked through Amex Travel only. Platinum Personal offers this reward for flights booked with Amex Travel and/or directly with the airlines.
  • The flight booking reward percentage is capped at $500,000 per year for the personal card. The business card doesn’t have that restriction.
  • The business card offers a refund of 35% reward points if you redeem them through the Pay With Points service. The personal version doesn’t offer this.
  • Amex Platinum awards statement credits for personal shopping, fitness, and lifestyle categories. Business Platinum focuses its benefits on business-oriented categories like subscriptions for Dell, Adobe, and Indeed. 
  • You get 1.5x points on spending software, construction material, and shipping purchases with the business card. Personal cards do not offer reward points for any category other than travel.
  • You get a statement credit for purchasing Uber services with a personal card. The business card does not have this feature.

Major Distinguishing Factor

The major distinguishing factor for Amex Platinum Business is its bonus categories. You get 5x points on flights booked through Amex Travel without a price cap. Secondly, you get 1.5x reward points for business purchases.

On the other hand, the Amex Platinum personal card is outstanding due to its several statement credit categories. You get up to $1,500 of combined credit through its lifestyle categories. 

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When to Use Amex Platinum Business

You should use this card if you are a frequent traveler and a big business owner. Its welcome offer and annual fee can be challenging otherwise. Also, you can maximize its benefits if you spend thousands on business purchases monthly.

When to Use Amex Platinum Personal

This card is best for those like to travel and who have a laid-back lifestyle. Also, if you love to stay fit and are outgoing, you can have this card. You can offset its annual fee if you plan to use it fully.

Which Amex Platinum Is Better?

In my opinion, Amex Platinum is a better choice because:

  • You can meet the welcome bonus price cap more quickly than for the business card.
  • You can earn points on booking flights directly as well as through Amex Travel.
  • You get travel perks and rewards for personal categories.

However, you can consider getting the best Amex business card if you have substantial business expenditures in the categories offered. 

Alternatively, you can get both if you can afford to pay them off.

Final Verdict

The Amex Platinum card is the better version to own because of its flight booking rewards, reasonable welcome offer, and statement credits. Amex Platinum Business focuses on business owners who travel frequently. Both versions have a high annual fee and APR that you can offset by getting the maximum out of your card(s).

The opinions expressed in this article are those of our editorial team and no one else. Please consult your financial advisor before making any major financial decisions. This content is not reviewed or endorsed by any partner or external entity. Our editorial team spends hours of time researching and developing each article with the goal of providing helpful guidance but still, errors may remain.