Amex Platinum vs. Amex Business Platinum: Which Card is Right For You?

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The Platinum Card® from American Express is one of the most valuable rewards cards on the market, and a personal favorite of mine and the rest of the team at TPG. There are actually four different versions of the Platinum card, but for most people the standard personal Platinum and the Business Platinum® Card from American Express will be the most exciting. These cards are both built around a shared suite of Platinum travel and lifestyle perks, but they have a few key differences that help them stand out. This decision is further complicated by the limited time up to 100,000 point welcome bonus on the Business Platinum® Card from American Express. Let's take a look at how the two cards stack up.

Comparing The Platinum Cards

Before we dive into the details, here’s a high-level comparison of the two cards:

Both cards have incredibly high annual fees, though the Business Platinum's is still $45 higher than the personal Platinum. That's a minuscule difference, especially with the Business Platinum offering a limited time welcome bonus of up to 100,000 points, more than 60% more than the personal Platinum.

Note that many people have been targeted for a 100,000 point welcome bonus on the personal Amex Platinum by using the CardMatch tool (offer subject to change at anytime). This targeted offer only requires $5,000 of spending, and is better than the publicly available offer on either Platinum card.

Similarities

Let's start with the perks that are shared by both cards, as they make up the core of the Platinum's value proposition. Both the personal and business version of the Amex Platinum offer the following perks:

• Earn 5x points on airfare and prepaid hotels purchased through amextravel.com: While the 5x bonus multiplier is quite high (and works out to a 10% return based on my valuations), Amex is incredibly restrictive about what charges qualify
• Up to $200 annual airline incidental fee credit: Not valid on airfare, only on incidental charges like seat selection and bag fees.
• Marriott & Hilton Gold elite status: Enjoy bonus points, late checkouts, and other perks when you stay at Hilton or Marriott properties (requires registration).
• Priority Pass Select Membership
• Access to Amex Centurion Lounges
• Access to Delta SkyClubs: Only when flying Delta
• Global Entry / TSA PreCheck application fee credit (up to $100)
• Access to Amex’s Fine Hotels & Resorts (FHR) program: Enjoy elite like benefits, including free breakfast, room upgrades, late checkout and a property specific amenity (usually a $100 dining credit)
• Transfer points to Amex's 22 airline and hotel partners: Keep your eye out for transfer bonuses that can help you get more than the usual 1:1 ratio

From the airport to the hotel, no matter which Platinum card you pick, you're stepping into a world of elevated and luxurious travel. These benefits also go a long way towards offsetting the $550+ annual fees you'll be paying, but there's more.

Differences

Each Platinum offers at least one additional statement credit to further reduce the out of pocket cost to cardholders. On the personal Amex Platinum, you'll receive a $200 annual Uber credit ($15 a month with a $20 bonus in December) and a $100 Saks Fifth Avenue credit ($50 semi-annually). On the Business Platinum, you get a $200 Dell technology credit which, like the Saks credit, breaks down into $100 semi-annually.

While both cards earn 5x points on airfare and prepaid hotels booked through amextravel, they also each offer additional bonus categories. The personal Platinum earns 5x points on airfare booked directly with the airline, while the Business Platinum earns a 50% bonus on purchases over $5,000 (up to a million bonus points per year).

The Business Platinum also carries a slight edge when it comes to redemptions. In addition to transferring your points to airline or hotel partners, it also offers a 35% rebate when you pay with points for economy flights on your selected airline or first or business class flights with any airline. This effective raises your redemption value to 1.5 cents per point, and because these are revenue tickets, you'll earn miles and elite qualifying miles on them as well.

Perhaps the biggest difference between these two cards lies in the welcome bonuses, and the amount of spending required. I value Membership Rewards points at 2 cents each, making the 60,000 point bonus on the Amex Platinum worth $1,200. That's a great deal for only $5,000 in spending in three months, but it pales in comparison to the 100,000 point bonus on the Business Platinum. To earn both tiers of this limited time offer, new applicants will have to spend $10,000 in the first three months to earn the first 50,000 points and $25,000 total on purchases in the first three months to earn the full 100,000 points. $25,000 is a lot of spending, though for businesses that have high inventory turnover or equipment costs this should be manageable.

Bottom Line

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.