Our Verdict
The Business Platinum Card from American Express is exceptional at delivering premium business travel experiences and comprehensive benefits that can easily justify its $799 annual fee for the right business profile. The massive 200,000-point welcome bonus, extensive airport lounge access, Fine Hotels benefits, and over $800 in annual statement credits create genuine value that exceeds the cost for established businesses with substantial travel and spending requirements. While the card loses minor points for high spending thresholds that exclude smaller businesses and American Express acceptance limitations, it earns top marks for benefit quality, customer service, and delivering on its premium positioning. This card succeeds brilliantly as a luxury business travel tool, though it's completely inappropriate for cost-conscious operations or businesses without significant travel needs.
8.9
- This card has an annual fee of $799
- You’ll need a good credit score of 700 or higher to be eligible
Business Platinum Card from American Express Review: The Ultimate Business Travel Credit Card
The Business Platinum Card from American Express represents the pinnacle of business credit cards in Canada, commanding a $799 annual fee that immediately signals its target market: established businesses with substantial spending and frequent travel needs. After analyzing this card's extensive benefit package against its premium cost, we've found it delivers exceptional value for businesses that can maximize its travel perks and spending-based benefits, while being prohibitively expensive for smaller operations. This card targets successful business owners, executives, and companies with significant travel budgets who value premium experiences and can leverage the comprehensive benefit suite. However, the value proposition depends entirely on your ability to utilize the travel benefits and maintain the substantial spending levels required for the welcome bonus.
Welcome Bonus: Massive Points, Massive Spending Requirements
The current welcome offer of up to 200,000 Membership Rewards points represents one of the most generous business card bonuses available, but the earning structure reveals who this card truly serves. You'll earn 110,000 points after spending $15,000 in your first three months, an additional 60,000 points after spending $90,000 in your first year, and 30,000 points for any purchase between months 15-17. The $15,000 spending requirement translates to $5,000 monthly, which is substantial but achievable for established businesses. However, the $90,000 annual spending requirement means you need to maintain $7,500 in monthly spending throughout your first year, clearly targeting businesses with significant operational expenses or those willing to channel all spending through this card. When redeemed strategically for premium travel, those 200,000 points can provide $3,000-$4,000 in value, making this one of the most valuable welcome bonuses in the Canadian market. However, achieving the full bonus requires spending patterns that only apply to well-established, high-revenue businesses.
The Premium Travel Experience
The card's crown jewel is airport lounge access through The American Express Global Lounge Collection, including over 1,400 lounges worldwide. This includes premium Centurion Lounges, Plaza Premium locations, and hundreds of airline lounges across 140 countries. For business travelers who fly frequently, this benefit alone can justify a significant portion of the annual fee. If you travel internationally even six times per year and use lounge access consistently, you're looking at $600-900 in value from avoiding airport food costs and having productive workspace access. The Fine Hotels and Resorts program provides benefits like room upgrades, late checkout, breakfast, and property credits at over 1,600 participating hotels. American Express positions this as providing an average of $550 in value per stay, though the actual benefit depends on your flexibility with hotel choices and travel dates.
Business-Specific Travel Benefits
Beyond standard travel perks, the card includes business-relevant benefits like the $200 annual travel credit, up to $500 in Dell statement credits, $120 in wireless credits annually, and a $100 NEXUS credit every four years. These credits can total over $800 annually if fully utilized. The International Airline Program provides access to discounted tickets and upgrades across multiple carriers, while the dedicated concierge service can handle travel planning, restaurant reservations, and business event coordination.
Membership Rewards: Flexible but Requires Strategy
The earning structure of 1.25 points per dollar spent isn't particularly competitive compared to category-specific cards, but Membership Rewards' flexibility compensates for lower earning rates. The real value comes from transfer partners, including 1:1 transfers to Aeroplan, British Airways Avios, and various hotel programs. This flexibility allows you to book premium cabin flights or luxury hotel stays that would be prohibitively expensive if purchased directly. However, maximizing value requires understanding each transfer partner's award charts and sweet spots, adding complexity compared to simple cash back programs. The "no preset spending limit" feature provides financial flexibility for large business purchases, though your actual purchasing power depends on your credit profile, payment history, and American Express's assessment of your resources.
Flexible Payment Options: A Double-Edged Sword
Unlike traditional charge cards that require full payment monthly, this card offers flexible payment options on eligible balances. While this provides cash flow flexibility for businesses, it comes with substantial interest rates ranging from 21.99% to 29.99% depending on your payment history. The ability to carry balances can be valuable for managing business cash flow during seasonal fluctuations or major purchases, but the high interest rates mean this should be used strategically rather than as standard practice.
Business Tools and Expense Management
The card includes comprehensive business expense management tools, detailed reporting capabilities, and integration with accounting software. For businesses managing multiple employee cards or complex expense reporting, these features provide operational efficiency that goes beyond simple rewards earning. Additional employee cards cost $199 annually, which is substantial but includes full access to most cardholder benefits. For businesses needing employee card distribution, this cost can add up quickly but may be justified if employees utilize travel benefits effectively. The purchase protection, extended warranty coverage, and business insurance options provide risk mitigation for equipment purchases, travel, and business operations that many companies would otherwise need to secure separately.
The Annual Fee Reality Check
The $799 annual fee requires careful justification through benefits utilization. If you can fully utilize the annual credits ($200 travel, $500 Dell, $120 wireless), you've recovered $820, theoretically covering the annual fee. However, these credits require specific spending patterns that may not align with every business's needs. The lounge access benefit becomes cost-effective for businesses with 8-10 international trips annually, while the Fine Hotels benefits require luxury hotel stays to provide meaningful value. Businesses without substantial travel needs will struggle to justify the cost through other benefits alone.
Who This Card Serves Best
After analyzing the benefits and requirements, this card works optimally for specific business profiles: High-Revenue Service Businesses: Consulting firms, professional services, or agencies with substantial travel requirements and the revenue to support $90,000+ annual spending. Executive Travel Programs: Established companies providing premium travel benefits to executives or key employees who frequently travel internationally. Businesses with Luxury Client Entertainment: Companies that regularly entertain clients at high-end restaurants, hotels, or events where premium experiences justify the costs.
Who Should Consider Alternatives
Small Businesses with Limited Travel:Companies without substantial travel needs won't extract enough value from the travel benefits to justify the annual fee. Cost-Conscious Operations: Businesses prioritizing expense minimization over premium experiences will find better value with lower-fee alternatives. Inconsistent Spenders: Companies unable to meet the substantial spending requirements for the welcome bonus or maintain consistent high-volume spending.
American Express Acceptance Considerations
While American Express acceptance has improved significantly in Canada, it's still not universal. For a card positioning itself as your primary business payment method, this limitation can be problematic when dealing with smaller suppliers or certain international markets. Most major suppliers, hotels, and restaurants accept American Express, but businesses operating in sectors with many small vendors or international supply chains may need backup Visa or Mastercard options.
Competitive Landscape
Within the premium business card market, this card competes primarily on travel benefits and American Express's service reputation. Alternative premium business cards may offer better earning rates in specific categories but typically can't match the breadth of travel benefits and global lounge access. The card's strength lies in comprehensive premium experiences rather than simple rewards optimization, making direct comparisons with category-bonus cards less relevant for its target market.
The Bottom Line
The Business Platinum Card from American Express delivers exceptional value for established businesses that can maximize its travel benefits and maintain substantial spending levels. The comprehensive lounge access, premium hotel benefits, and extensive travel insurance create genuine value that can easily exceed the annual fee for frequent business travelers. However, this card requires honest assessment of your business travel patterns and spending capacity. If you're not flying internationally at least monthly, staying in luxury hotels regularly, or maintaining $90,000+ in annual spending, the value proposition becomes questionable despite the impressive benefit list. For businesses that fit the target profile, this card provides unmatched travel experiences and operational benefits that justify the premium cost. For everyone else, it represents an expensive way to earn travel rewards that could be obtained more efficiently through lower-fee alternatives focused on specific business spending categories.
