Premium credit cards continue to evolve in an attempt to attract and retain customers. In 2017, the annual fee on the personal Platinum Card® from American Express increased, but the card also began offering additional benefits like 5x points on airfare purchased directly from airlines. Now, the Citi Prestige is gradually rolling out improvements, such as 5x points on airfare and dining, as well as devaluations including raising the annual fee to $595 and restricting the popular 4th Night Free benefit.
The Business Platinum® Card from American Express has also evolved, as it now has a higher annual fee of $595 (see rates & fees) while adding benefits including a year of WeWork access (enroll between 2/15/2019 and 12/31/2019) and up to $200 annually in statement credits to offset Dell technology purchases.
Although a number of the benefits offered by the Amex Platinum and the Amex Business Platinum overlap, there are important differences to consider when deciding which one is right for you. To make this decision easier, let’s take a look at the benefits offered by each card.
The Basics
Before we dive into the details, here’s a simple comparison of the two cards:
| Amex Platinum | Amex Business Platinum | |
| Welcome Bonus | 60,000 points after you spend $5,000 in the first three months | 50,000 points after you spend $10,000 and another 25,000 points after you spend an additional $10,000, all in the first three months |
| Total Spend Requirement for Welcome Bonus | $5,000 | $20,000 |
| Travel Category Bonus | 5x on flights booked directly with airlines or with American Express Travel
5x on prepaid hotels booked on amextravel.com Terms Apply. |
5x on airfare and prepaid hotels booked on amextravel.com
1.5x on purchases of $5,000 or more (up to 1 million additional points per year) Terms Apply. |
| Annual Fee | $550 (see rates & fees) | $595 |
Each card comes with a solid welcome bonus, but the minimum spend required to earn the bonus is where they really differ. While you can earn 60,000 Membership Rewards points after spending $5,000 on the Amex Platinum, the Business Platinum requires a much steeper minimum spend to earn its bonus.
In fact, the Business Platinum welcome bonus has two tiers: After spending $10,000 in the first three months, you’ll earn 50,000 points, but you’ll need to spend an additional $10,000 (also in the first three months) to earn the remaining 25,000 points. That’s $20,000 for the full 75,000 points.
Both cards earn 5x points when you purchase airfare and prepaid hotel rooms from amextravel.com, but the personal Amex Platinum also earns 5x on airfare purchased directly with airlines and airfare purchased with American Express Travel over the phone. On the other hand, the Business Platinum card is great for business owners with significant expenses, since all purchases of at least $5,000 earn 1.5x points per dollar, up to 1 million extra points per year.
Travel Perks
Both of these cards really excel when it comes to travel perks. Whether you choose the personal or business version of the card, you can be confident that traveling will be easier and more comfortable.
Benefits Offered By Both Cards
Each card offers up to a $100 credit for either Global Entry or TSA PreCheck every four years. This makes navigating security prior to your flight and during your return from international trips much less painful and time-consuming.
Another great benefit offered by both cards is the $200 airline fee credit, which covers baggage fees as well as other incidental charges. There are two important points to remember about this benefit. First, you must select an airline prior to using the credit. Second, it will not cover inflight internet purchases or airfare — but sometimes gift cards can be covered.
As a holder of either card, you’ll also receive Gold status with Hilton Honors and Marriott Rewards, which can help you earn more points for your hotel stays as well as benefits during your stays.
Speaking of hotels, you’ll also have access to Amex’s Fine Hotels & Resorts (FHR) program with either card. When you book a stay at one of these hotel properties through Amex Travel, you’ll receive benefits such as guaranteed 4pm late check-out, a room upgrade if available, daily breakfast for two and an amenity or credit worth at least $100 for your stay. And, prepaid FHR stays booked online will also earn 5x points.
Both cards also offer a $100 hotel credit on qualifying charges, plus a room upgrade upon arrival when available, when you book a hotel stay of two nights or longer through the American Express Hotel Collection at americanexpress.com/hc. Previously the Business Platinum only offered a $75 credit for Hotel Collection stays, but the credit jumped to $100 in Feb. 2019 to match the personal card.
To top things off, you’ll have access to Boingo land-based hotspots around the world through the Boingo American Express Preferred Plan. And, insurance benefits such as purchase protection, extended warranty, secondary rental car coverage, roadside assistance, baggage insurance, premium global assist and travel accident coverage are virtually identical across both cards. Plus, both cards allow you to add primary rental car coverage to your car rentals through American Express’ Premium Car Rental Protection.
Neither card charges a foreign-transaction fee for purchases made abroad (see Amex Business Platinum rates & fees), (see Amex Platinum rates & fees).
Differences
With the personal Amex Platinum, you’ll also receive $200 in Uber credit each year. Each month, the card provides $15 in credit to use on Uber rides, with an additional $20 for the month of December. Keep in mind that if you don’t use the full credit in one month, it won’t roll over to the next month. Also note that Uber now adds the monthly credits to your Uber Cash balance, and you need to select Uber Cash as your payment method to redeem your credits.
With the Business Platinum, in addition to Boingo hotspot access, you’ll receive 10 Gogo inflight Wi-Fi passes each year you have the card so you can stay connected during your flights.
Lounge Access
If you’re looking for a credit card with lounge access privileges, both of these cards give you tons of options.
American Express has become famous for its Centurion Lounges. Only those who have a Platinum or Centurion card are allowed into these lounges. With either the personal or business version of the Platinum card, you can also bring two guests with you. You’ll also have access to Airspace lounges and Escape Lounges.
For those who regularly fly with Delta, you’ll be excited to know that with either card, you’ll have access to Delta Sky Clubs. However, unlike the Centurion Lounges — which you can visit anytime you’re flying on any airline — you must be flying on Delta to access a Sky Club with a Platinum card.
Thanks to the Priority Pass Select membership that comes with both of these cards, you’ll also have access to lounges that partner with Priority Pass, With over 1,200 lounges around the world, Priority Pass is a great way to ensure you have a place to relax between flights.
Lounges are a great place to get away from the hustle and bustle of the airport. Some lounges even have showers, which can be amazingly refreshing after a long flight. Top it off with something to drink and a bite to eat, and you’ll quickly see why we love airport lounges.
Redemption Values
American Express Membership Rewards points are one of the more valuable loyalty currencies out there. According to TPG’s valuations, they’re worth 2 cents apiece. With 21 transfer partners, the points you earn can help you travel to just about anywhere in the world.
| Amex Platinum | Amex Business Platinum | |
| Redeeming for Flights via Amex Travel | 1 cent per point | about 1.54 cents per point |
| TPG Valuation | 2 cents per point | 2 cents per point |
One benefit that’s exclusive to the Business Platinum card is that when you book any flight directly with points through Amex Travel on your pre-selected airline — or business or first class on any airline — you’ll receive a 35% rebate of the points you used. This is particularly useful if you don’t have flexible travel dates and award space isn’t available.
But if you plan to transfer your Membership Rewards points to an airline or hotel partner, you should shoot to get at least 2 cents per point in value when booking award flights or nights. If you book business or first-class flights such as Singapore Suites, you can expect to get even more value out of these points.
Which Card Is Right For You?
If you’re looking for a premium credit card loaded with travel perks and you don’t have a business or the substantial expenses that come with one, the personal Amex Platinum should be just what you need. The annual $200 airline fee credit and $200 Uber credit really take the sting out of the $550 annual fee. Throw in access to a ton of airline lounges, substantial travel benefits and the Membership Rewards you can earn with the card (especially when you book airfare and get 5x), and this really starts to look like an excellent choice. And, remember that you can add up to three authorized users to your Amex Platinum for just $175 per year (see rates & fees).
For business owners, the decision isn’t quite so simple. Both the personal and business versions of the Platinum come with the airline fee credit, Global Entry/TSA PreCheck credit, Boingo hotspot access, Hilton and Marriott elite status and more. But business owners and employees who require a good bit of travel will appreciate the 10 Gogo passes for free inflight Wi-Fi and the 35% points rebate.
To make the best choice for your situation, you’ll also want to consider whether you’ll utilize the 1.5 points per dollar on purchases of at least $5,000 that comes with the Business Platinum. If your business frequently makes larger purchases, this will be a huge boost. Or, if you currently use WeWork or purchase Dell products, the benefits recently added to the Business Platinum card may look very tempting.
Finally, remember that the annual fees differ by $45, with the Amex Platinum carrying a $550 annual fee and the Business Platinum a $595 annual fee. Neither is cheap, but fortunately the benefits and the annual credits offset much of the fees on both cards, making either one a solid choice for the frequent traveler.
Additional reporting by Katie Genter.
For rates and fees of the Amex Platinum, click here.
For rates and fees of the Amex Business Platinum, click here.
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