American Express Platinum Business Card review 2022
A business charge card designed for companies with frequent overseas travel… and did we mention it’s made of metal?
You say: ★★★★★We say: ★★★★★
Doing its job: 4.5/5
In a nutshell:
Up to 54 days
Interest-free each billing period
Earn 1 point
per £1 spent
Up to 40,000 points
|Annual/monthly fees||£595 p.a.|
|Purchases||N/A (this product is a charge card).|
|Purchases interest-free period||Up to 54 days|
|Maximum credit limit||Not specified|
|Additional cards available||Add up to 1 complimentary supplementary Platinum Business Charge Card (thereafter an annual fee applies to each), and up to 98 complimentary supplementary Gold Business Charge Cards.|
|Incentive||Earn 40,000 Membership Rewards® points when you spend £6,000 in first 3 months of Cardmembership. Earn 1 Membership Rewards® point for every £1 spent thereafter.|
|Additional Rewards Info||Earn 18,000 Membership Rewards points for each approved referred friend.|
|Lounge access||Unlocks access to more than 1200 airport lounges across 130+ countries, including The Centurion Lounges and membership of PriorityPass.|
Chris Lilly is a publisher at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more.
If your business has an irregular income or irregular outgoings (what business doesn’t?), then a business charge card can boost your spending power and offer stability.
With a charge card, you’re expected to pay your balance in full every month. But provided you do that, with this card you’ll be able to take advantage of up to 54 days of 0% interest on purchases (although there are fees to pay if you fail to clear your balance) each billing cycle. The benefits of charge cards include flexibility with payments (purchases at the start of the billing cycle are paid for at the end of the billing cycle) and, in many cases, rewards on your spending.
Some of the key benefits of this card include airport lounge access, Hilton Honors Gold Status, a concierge service, comprehensive worldwide travel insurance (subject to enrolment) for trips of up to 120 days and the opportunity to earn Membership Rewards points as you spend (with a generous bonus on sign-up, subject to a minimum spend).
The option of additional cards enables you to extend benefits to colleagues and employees and easily keep track of business expenses. You’ll be able to request one additional card for free, and thereafter each incurs an annual fee.
Pros and cons
- Up to 54 days to spread the cost of purchases (provided you pay off your balance in full each month)
- Customers report excellent customer service when dealing with American Express
- Earn points on day-to-day spending
- Up to 40,000 points introductory bonus
- Airport lounge access
- Applicants with low credit scores are unlikely to get accepted
- Relatively high fee of £595 p.a.
- Only one free supplementary card
- 2.99% non-sterling transaction fee
How does this deal compare?
You can make manual repayments through American Express's app, by logging in to your online banking or over the phone. Alternatively, you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (£12) or losing any promotional rates as a result.
You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
|Minimum amount||Fixed amount||Fixed percentage||Full amount|
How to apply
If you've compared cards and settled on the American Express Platinum Business Card, you can head over to American Express's secure online application to apply. Don't forget, you'll need to be over 18 and a UK resident to apply.