As a seasoned travel credit card blogger, I often get asked the same question: “Is that high annual fee really worth it?” Today, I’m tackling that very question, specifically regarding the Business Platinum Card from American Express. This card comes with a $695 annual fee, which, let’s face it, can feel like a hefty price tag. However, the real question is whether the benefits outweigh the cost. So, let’s break down what the Amex Business Platinum offers and whether it deserves a spot in your wallet.

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Unpacking the Welcome Bonus: A Quick Win

One of the most appealing aspects of any new credit card is the welcome bonus, and the Amex Business Platinum doesn’t disappoint. Currently, new applicants can earn a substantial 150,000 Membership Rewards points after spending $20,000 on purchases within the first three months of card membership. Additionally, you can earn a $500 statement credit after spending $2,500 on qualifying flights booked directly with airlines or through American Express Travel within the same timeframe. You can pursue both offers.

Now, let’s talk value. Based on the latest valuations, Membership Rewards points are worth approximately 2 cents apiece. Therefore, the 150,000-point bonus translates to a whopping $3,000. Factor in the $500 statement credit, and the total value of the welcome offer climbs to $3,500! For me, this initial bonus alone made the card instantly attractive. I was able to use those points for a fantastic business class flight, which significantly offset the initial cost.

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Unlock the World with Extensive Lounge Access

For frequent travelers like myself, lounge access is an absolute game-changer. The Amex Business Platinum provides access to an impressive network of lounges, making those long layovers far more bearable. Here’s a glimpse of what you can expect:

* American Express Centurion Lounges: These are my personal favorites, offering premium amenities, including complimentary food, drinks, and comfortable seating areas.

* Delta Sky Club Lounges: When flying on Delta, I can access Sky Clubs (with limited annual visits or unlimited access after spending $75,000 in a calendar year), allowing me to relax and recharge before my flight.

* Priority Pass Select Lounges: This is a huge perk, granting access to a vast network of lounges worldwide. Note that restaurant access is not included with this benefit.

* Escape Lounges: These lounges provide a comfortable and quiet space to escape the hustle and bustle of the airport.

* Plaza Premium Lounges: Another great option for international travel, Plaza Premium Lounges offer a consistent level of quality and comfort.

* Lufthansa Lounges: Access varies depending on your airline and cabin class, but if you frequently fly Lufthansa, this can be a valuable perk.

* Global Lounge Collection Partner Lounges: This provides even more options, ensuring I can find a lounge almost anywhere I travel.

Thanks to the Amex Business Platinum, I’ve been able to avoid crowded airport terminals and enjoy complimentary food, drinks, and Wi-Fi, enhancing my overall travel experience significantly.

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Hotel and Car Rental Elite Status: Elevate Your Stays

The Amex Business Platinum extends its benefits beyond the airport, offering complimentary elite status with both hotel and car rental programs.

* Hotel Elite Status: Cardmembers can enroll for automatic Gold status with Hilton Honors and Marriott Bonvoy.

* Hilton Gold Status: I value this status for perks like bonus points on stays, complimentary bottled water, a fifth night free on award stays, potential room upgrades, and free continental breakfast or food and beverage credits.

* Marriott Bonvoy Gold Elite Status: This status provides late checkout, potential room upgrades, bonus points on stays, enhanced internet, and a welcome gift of bonus points.

* Car Rental Elite Status: Cardmembers can enroll for complimentary elite status with Avis Preferred, Hertz Gold Plus Rewards, and National Emerald Club.

* These statuses provide benefits like car upgrades, a free second driver, and the ability to skip the line and go straight to your car. A personal favorite of mine is using status matching to acquire status with other rental car agencies.

I’ve personally taken advantage of these benefits to enjoy complimentary upgrades, late checkouts, and other perks, making my trips more comfortable and convenient.

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Maximize Your Points with the Pay with Points Perk

The “Pay with Points” perk is a unique and valuable feature of the Amex Business Platinum. It allows cardmembers to get 35% of their points back when using them to pay for flights through Amex Travel. This applies to two types of bookings: flights in any cabin with your preselected preferred airline and flights with any airline if the reservation is for business class or first class.

This benefit alone can save you a significant number of points, especially if you frequently fly in premium cabins or with a particular airline. I often use this perk to book business class flights, effectively reducing the cost and allowing me to travel more luxuriously.

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Unlock Luxury with Fine Hotels + Resorts and The Hotel Collection

The Amex Business Platinum also provides access to Amex’s Fine Hotels + Resorts (FHR) and The Hotel Collection (THC) programs. These programs offer exclusive benefits and perks when booking stays at participating hotels.

* Fine Hotels + Resorts: FHR stays include benefits like daily breakfast for two, late checkout, complimentary Wi-Fi, and room upgrades (when available). Plus, you also receive a unique experience credit worth $100, typically in the form of dining or spa credits. I find this extremely advantageous, as I utilize the dining credits for a nice dinner.

* The Hotel Collection: THC stays include room upgrades (when available) and a $100 property credit (for bookings of two consecutive nights or more) to spend on dining, spa services, or resort activities.

I’ve used these programs to book luxurious stays at top-rated hotels, enjoying complimentary upgrades, dining credits, and other perks that have elevated my travel experiences.

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Statement Credits and Additional Perks: The Sweeteners

In addition to the major benefits discussed above, the Amex Business Platinum offers a range of statement credits and other perks that can further offset the annual fee.

* Bonus Points on Airfare and Hotels: You earn 5 points per dollar on airfare and prepaid hotel bookings made through Amex Travel. * Global Entry or TSA PreCheck: A statement credit reimburses your application fee for either Global Entry or TSA PreCheck. * Clear Plus Membership Credit: Up to $199 per year in statement credits for Clear Plus membership fees. * Annual Airline Statement Credits: Up to $200 in statement credits for airline incidental fees per calendar year (requires selecting a preferred airline). I use these credits on United to buy TravelBank credits. * Quarterly Hilton Statement Credits: Up to $200 per year in statement credits for purchases with Hilton. * Spending Statement Credits: Up to $150 per year with Adobe, up to $120 per year on cellphone plans, up to $360 per year with Indeed, and up to $400 per year with Dell.

Additionally, the card offers cellphone protection, preferred access to exclusive events, and opportunities to earn bonus points through various offers.

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The Verdict: Is It Worth It?

So, after a comprehensive look at the benefits, is the Amex Business Platinum worth the $695 annual fee? In my experience, the answer is a resounding YES, particularly if you are a frequent traveler and can take full advantage of the card’s various perks and statement credits.

For me, the lounge access, hotel and car rental elite status, Pay with Points perk, and FHR/THC benefits alone make the card worthwhile. The statement credits are simply icing on the cake.

However, it’s essential to consider your own spending habits and travel patterns. If you don’t travel frequently or can’t utilize the card’s benefits, it may not be the right choice for you. But if you’re looking for a premium travel credit card that offers exceptional value and can elevate your travel experiences, I highly recommend the Amex Business Platinum.