American Express cards typically come with some enticing rewards offers, and the American Express Business Platinum Card is no different. Designed for business owners with significant travel expenses, the Amex Business Platinum offers competitive rewards, with 5X Membership Rewards points on flights and prepaid hotels booked through Amex Travel, 50 percent more points for large purchases, and a $200 airline fee credit per calendar year.
Last year, the American Express Business Platinum Card rewards became even more valuable with the introduction of a points back promotion, which granted cardholders the opportunity to receive up to 50 percent of their points back for using points to book travel through qualifying airlines.
It seems that 50 percent reward was too good to last, and American Express recently reduced the points back rewards to 35 percent. While the percentage of points may have decreased since the original updates, the points cap, which was once 500,000 in a calendar year, has increased, creating an equally, if not more, attractive deal for Amex Business Platinum cardholders.
What Changes Are Being Made to the Points Back Cap?
Despite the aggressive 50 percent points back offer, a 500,000 yearly cap left some business owners with little wiggle room when it came to really capitalizing on their Airline Bonus rewards. However, that all changed in 2018, with a higher points back cap that can earn some cardholders up to 3 million in points based on the points back promotion.
Now, Business Platinum cardholders who spend $1 million on their card during the 2018 calendar year can expect to get back 1 million points through the 35 percent Airline Bonus, and those who spend $3 million can expect to receive 3 million points back through the Airline Bonus.
Why is This New Amex Points Back Cap Better?
Though the number of points back may have decreased from 50 percent to 35 percent, the extended cap makes the rewards all the more palatable for business owners who pay for a significant amount of travel over the year.
By using the Airline Bonus rewards, business owners booking travel can decrease points used by 35 percent, so a flight that may have cost 60,000 points now will only cost 39,000, and at a 1.54 cent per point value, that can add up to significant savings on travel in a single calendar year, the added cap making those points stretch even further.
It’s also worth noting that new cardholders can benefit from more than just the points back rewards, as they can receive 100,000 Membership Rewards points: 500,000 points after spending $10,000 in the first three months, and an additional 50,000 points after spending an additional $15,000.
If you’re looking for a business credit card, keep in mind that the American Express Business Platinum is a charge card, not a credit card, meaning you’ll need to pay off the balance in full each month or risk accruing significant interest. Additionally, the card does come with a hefty annual fee ($450), but the value of the rewards opportunities can quickly exceed that.
Should you start using the Amex Business Platinum Card? If you don’t mind booking through their partners or their travel site and you plan on spending $1 million on the card, it might just be worth considering.
Author: Jeff Gitlen
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