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Business Platinum Card from American Express Review

Upgrade your travelling with the Business Platinum Card from American Express.

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Our verdict

The Business Platinum Card from American Express is a powerful travelling companion, offering access to over 1,300 airport lounges worldwide, a suite of exclusive travel insurance and the ability to earn Membership Rewards points for every $1 in eligible purchases. As a Platinum cardholder, you have access to specialty services, a dedicated Concierge team and priority treatment as well. Since this card has no pre-set spending limit on purchases, you can enjoy financial flexibility with your card usage, as long as you maintain a good credit history and make your payments on time. While this card offers many unparalleled benefits, you may find it difficult to pay off the full balance each month, however there is a flexible payment option available. It is perhaps tailored toward a small business owner who generates more income than expenses.

Best for: Those who spend big on business purchases and want to earn Membership Rewards points.

  • Earn a welcome offer up to 120,000 points
  • Earn up to 1.25 points per $1 spent
  • Access to airport lounges
  • Travel insurance coverage
  • Flexible payment option available
  • This card has an annual fee of $799
  • You'll need a good credit score of 700 or higher to be eligible

Purchase Interest Rate

20.99% - 28.99%

Cash Advance Rate


Balance Transfer Rate



Business Platinum Card from American Express

Learn more on American Express's secure site

The perks

  • Welcome offer.
    Earn a Welcome Bonus of 120,000 Membership Rewards points. Earn 80,000 Membership Rewards points after you charge $15,000 in net purchases to your Card in your first 3 months of Cardmembership. Plus, earn 40,000 points when you make a purchase between 14 and 17 months of Cardmembership. That’s up to $1,200 in statement credit that can be reinvested in your business.
  • Earn Membership Rewards points.
    Earn 1.25 Membership Rewards points for every $1 spent on eligible purchases. Points never expire, and there is no limit to the amount you can earn.
  • Access to airport lounges worldwide.

    Kick back and relax with access to over 1,300 airport lounges across 140 countries and counting through the American Express Global Lounge Collection. Get access to the iconic The Centurion Lounge network, Plaza Premium Lounges and hundreds more domestic and international lounges.

  • Card with No Pre-set Spending Limit

    Your purchases are approved based on a variety of factors, including your credit record, account history and personal resources. No Pre-set Spending Limit on purchases does not mean unlimited spending.

You’ll also like …

  • Travel insurance coverage.
Receive Emergency Medical Insurance, up to $500,000 Travel Accident Insurance, Car Rental and Theft Insurance, Trip Cancellation and Interruption Insurance, Hotel/Motel Burglary Insurance, Travel Emergency Assistance and a suite of other travel insurance coverage including Flight Delay, Lost and Stolen Baggage and Baggage Delay Insurance.
  • Receive up to 55 days interest-free.

Receive up to 55 days interest-free when you pay your balance off in full each billing cycle. This allows you to maximize your cash flow and benefit from holding onto your cash longer.

  • Business solutions and coverage.

Maximize your cashflow and manage your business better with a suite of business solutions offered by American Express. Get access to business insurance coverage, expense management reports and a range of other helpful business tools. Plus, extend payment solutions with Supplementary Cards for your employees.

  • Purchase coverage.

Extend warranties on eligible items you buy with your card (usually up to one year longer than the manufacturer offers) and potentially qualify for a refund from American Express if a merchant won’t accept a return within 90 days of purchase. Your eligible items are also covered against theft and accidental damage with Purchase Protection.

  • Business and travel statement credits

You can enroll your eligible Card and earn up to $500 in business statement credits on qualifying purchases with Dell and Indeed. Also, enroll and earn up to $120 in eligible Wireless Credits each year. Plus, access a $200 Annual Travel Credit each year of your Cardmembership. That’s up to $820 in annual business and travel statement credits.

  • Extra travel benefits.

Get access to car and limousine services, special benefits at Toronto’s Pearson International Airport and access to discounted tickets, upgrades and more with the International Airline Program. Enjoy access to specialty services and events, preferential treatment, and a dedicated Concierge team. Plus, transfer points to frequent flyer and hotel programs, including one-to-one to Aeroplan and Avios. In addition, enjoy Fine Hotels + Resorts benefits at over 1,300 properties worldwide like guaranteed late check-out, complimentary breakfast for two, and more with Business Platinum. Plus, upgrade your stay with premium status at leading hotel brands like Hilton Honors and Marriott Bonvoy.

  • Fraud protection guarantee.

If your card details are stolen, online or offline, you won’t be held responsible for the fraudulent charges. The American Express customer service team will assist you in remedying the situation.

  • Exclusive American Express perks.
American Express offer a range of opportunities to cardholder-only experiences and preferred seating at select events. You can enjoy concert, theatre, film, dining, shopping and travel perks with American Express Invites.
  • Get a $100 credit for NEXUS

You can access a $100 credit for NEXUS every 4 years with your Cardmembership.

  • Flexible payment option.

This charge card has both Due in Full and Flexible Payment Option balances. All Due in Full balances must be paid each month. Interest rate of 30% applies to each delinquent Due in Full Charge. This rate is effective from the day the account is opened. The Preferred rate of 20.99% applies to your Flexible Payment Option balance. If you have 2 separate Missed Payments in a 12 month period, the Flexible Payment Option rate for your account will be 25.99%. If you have 3 or more separate Missed Payments in a 12 month period, the Flexible Payment Option rate will be 28.99%. These rates are effective from the day the Flexible Payment Option is first available on your account.

What to watch out for

  • The steep annual fee.

There is a $799 annual fee charged for the Business Platinum Card from American Express. However, this fee may be tax deductible and the value of the rewards and perks can often outweigh the hefty fee – if you use them.

  • Additional cards cost $199 annually.

If you’re looking to hand out cards to your employees, each additional card will cost you $199 annually. However, you can receive Business Gold Cards for $50 annually.

  • Not as widely accepted overseas.

Compared to Visa and Mastercard, American Express is much less widely accepted in locations across Canada, the US and around the world. This might provide you with less opportunity to use the card, and therefore less opportunity to reap the rewards.

Consider other cards if …

  • You don’t want to pay an annual fee.

With a big annual fee of $799, this card is only worth the value if you take advantage of the Membership Rewards program, the business solutions and the host of insurance coverage. If you don’t want to pay an annual fee or such a high annual fee, you may want to consider a different business credit card.

  • You want cash back.

Although you can redeem your Membership Rewards points for statement credit, other rewards credit cards offer cash back. Some cards offer between 1-5% cash back, depending on the type of purchases you are making.

Compare other American Express credit cards

Name Product Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
American Express Cobalt Card
30,000 points
Up to 5x points per $1 spent
Min. recommended credit score: 700
Earn up to 30,000 Membership Rewards points in your first year. Earn 2,500 Membership Rewards points for each monthly billing period in which you spend $500 in net purchases on your card (up to 30,000 points). That’s up to $300 towards a weekend getaway or concert tickets.
American Express Green Card
10,000 points
1 point per $1 spent
Min. recommended credit score: 700
Earn a Welcome Bonus of 10,000 Membership Rewards points when you charge $1,000 in purchases to your card in the first 3 months as a new Cardmember. That’s $100 towards groceries or concert tickets.
SimplyCash Card from American Express
$100 in statement credits
Up to 2% cash back
Min. recommended credit score: 700
In your first 10 months, earn a $10 statement credit for each monthly billing period in which you spend $300 in purchases. This could add up to $100 in statement credits in the first 10 months.
American Express Aeroplan Reserve Card
90,000 points
Up to 3x points
Min. recommended credit score: 700
Earn up to 90,000 welcome bonus Aeroplan points. That's a first year value of up to $2,700.
American Express Aeroplan Card
40,000 points
Up to 2x points
Min. recommended credit score: 700
Earn up to 40,000 welcome bonus Aeroplan points. That's a value of up to $900 in your first year.

What should I know before I apply?

To apply for the Business Platinum Card from American Express, you will need to meet the following criteria:

  • Be at least 18 years old, or the age of majority in your province or territory.
  • Be a Canadian citizen or a permanent resident and have a valid Canadian credit file.

What credit score do I need?

When applying for a credit card, it’s beneficial to have a good to excellent credit score of 650 or higher. This will give you a better chance of your application being approved.

Other factors that might affect your odds of approval include:

  • Having a high income. Having a relatively high annual income may be beneficial for approval. Some lenders also consider the combined annual income of the household, which can improve your odds of being approved for a variety of credit cards.
  • Few hard inquiries on your credit report. Having several hard pulls listed on your credit history can indicate to lenders that you’re desperate for credit or have trouble managing your current debt. The provider may be less likely to approve your application if this is the case.
  • Factors that tie into your credit score. Your credit utilization ratio can play a major factor in the approval of your application. Customers who have low balances relative to their credit limits are usually preferable to providers.

What do customers say about this credit card?

Customers say positive things about the Business Platinum Card from American Express, citing that it opens up a world of opportunity in terms of luxurious and premium travel experiences. Cardholders seem pleased with the airport lounge access as well as the comprehensive travel insurance coverage.

On the other hand, some negative reviews state that the company has inflexible policies. In addition, the annual fee for the card is very steep, however customers seem satisfied with the rewards and benefits of the card.

How to apply for the Business Platinum Card from American Express

  1. Click Go to site on this page to be directed to the Business Platinum Card from American Express page, and click Apply Now Securely.
  2. Complete the application with information including your full name, home address, finances and business details.
  3. Review and submit your application.

How long will it take to get my Business Platinum Card from American Express?

Pre-approval for an American Express credit card is automated on the website, which means you may get a decision on your application within just 60 seconds. If there are issues with your application, such as missing information or more information required, it may take within 10 days to hear back.

Once your application has been approved, you’ll typically receive your card in the mail within 5 to 10 business days.

I got the card. Now what?

  • Make your repayments.
    Register for an account on the American Express website to pay your balance online and enroll in autopay.
  • Avoid fees.
    Late and returned payments will incur fees, so be sure to pay on time. If you’re enrolled in autopay, be sure to have enough funds in your account to pay off your balance.
  • Contact American Express.
    If you’re unable to find what you need on the American Express Canada website, call 1-877-891-0821 to speak with a specialist.

Bottom line

Designed for small business owners who can pay off the entire card balance each month, the Business Platinum Card from American Express is both a powerful travel companion and a handy card for everyday business expenses. With a high Membership Points to dollar spent earn ratio, you can rack up points in no time and use them toward flights, upgrades, hotel stays, merchandise and more.

Compare a variety of different business credit cards before deciding what’s best for your business spending needs.

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Frequently asked questions about the Business Platinum Card from American Express


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