In this article, I'll be discussing the cost of American Express's Platinum Business card. This card is geared towards small business owners and entrepreneurs, offering a variety of benefits and perks such as access to exclusive events and lounges, travel insurance, and a host of rewards and discounts. However, with all these benefits comes a cost - so how much does it cost to be a cardholder? The answer may surprise you - the annual fee for the Platinum Business card can vary depending on a number of factors, including the type of card, the rewards program, and the level of benefits offered. In this article, we will explore the cost of the Platinum Business card, as well as its features and benefits to help you decide if it's worth the investment.
How Much Is The American Express Platinum Business Card?
The American Express Platinum Business Card is a premium credit card that offers a wide range of exclusive benefits and perks for business owners. However, these benefits come at a cost, and it's important to understand how much the card will cost before making the decision to apply.
First, it's important to note that the American Express Platinum Business Card has a high annual fee of $595. This fee is charged each year on the anniversary of the card's opening, and it must be paid in order to continue using the card. This fee is higher than many other business credit cards on the market, and it's important to consider whether the benefits of the card are worth this cost.
In addition to the annual fee, the American Express Platinum Business Card also has a high-interest rate on purchases. The current variable APR is 17.99% to 26.99%, depending on creditworthiness. This means that if you carry a balance on the card, the interest charges can quickly add up and offset the value of the card's benefits.
Another cost to consider is the foreign transaction fee, which is 2.7% of the transaction amount. This fee is charged on all purchases made outside of the United States, and it can add up quickly if you travel frequently or make international business purchases.
On the other hand, the American Express Platinum Business Card offers a wide range of benefits that can offset the cost of the card.
Benefits Express Platinum Business Card:
- Access to more than 1,200 airport lounges worldwide through the American Express Global Lounge Collection
- Complimentary Hilton Honors Gold and Marriott Bonvoy Gold Elite status
- $200 annual statement credit for airline incidentals, such as baggage fees and seat upgrades
- Up to $200 in annual statement credits for Dell Technologies purchases
- 5x Membership Rewards points on flights and prepaid hotels booked through amextravel .com
- 1.5x Membership Rewards points on purchases of $5,000 or more
AMEX Platinum Business Card Cost
The cost of this card varies depending on the specific features and benefits that are included. Generally speaking, the annual fee for this card ranges from $450 to $550 per year. This fee covers access to exclusive perks such as lounge access, travel rewards, and concierge services.
Additionally, there may be additional fees for things like balance transfers and cash advances. It is important to carefully review the terms and conditions of the card before applying, as the costs can vary depending on the specific card offer. Ultimately, the AMEX Platinum Business Card is a high-end card that is designed for business owners who are looking for premium perks and rewards and are willing to pay a higher annual fee for these benefits.
American Express Platinum Business Credit Card Review—Is It A Good Deal?
It offers a wide range of benefits and perks, including access to exclusive events, travel benefits, and rewards points. However, it also comes with a high annual fee and a high credit limit. This review will examine whether the benefits of the card outweigh the cost and whether it is a good deal for business owners.
Factors such as the rewards program, customer service, and any additional features will also be considered. Ultimately, the review will determine if the American Express Platinum Business Credit Card is a worthwhile investment for business owners.
Amex Platinum vs. Chase Business Ink
The American Express Platinum and Chase Business Ink credit cards are both popular options for business owners and frequent travelers. Both cards offer a variety of rewards and benefits, but they also have some key differences that should be considered when choosing which card to apply for.
The American Express Platinum card is known for its luxury perks, including access to exclusive airport lounges, complimentary hotel elite status, and a $200 annual airline fee credit. It also offers a high rewards rate on travel and dining purchases and a variety of other benefits such as travel insurance and purchase protection. However, the card does come with a high annual fee of $550.
On the other hand, the Chase Business Ink card is geared more towards small business owners who want to earn rewards on their business expenses. It offers a high rewards rate on office supply stores, internet, cable, and phone service purchases, as well as a lower annual fee of $95. Additionally, the card offers a 0% introductory APR for the first 12 months on purchases and balance transfers.
Ultimately, the choice between the American Express Platinum and Chase Business Ink card will depend on the specific needs and spending habits of the business owner. If luxury perks and travel rewards are a priority, the American Express Platinum card may be the better choice. However, if earning rewards on business expenses is the main goal, the Chase Business Ink card may be the better option. It is important to review the terms and conditions of each card and compare them to your spending patterns before making a decision.
Conclusion:
I hope that this article has helped to clarify the cost of American Express's Platinum Business card. The annual fee for this card is $595, with additional fees for certain features such as additional cards and international usage. However, it is important to keep in mind that the card also offers a wide range of benefits and rewards, including access to airport lounges, travel insurance, and cashback on business expenses. Ultimately, the cost of the Platinum Business card will depend on the individual's usage and needs. It may be a valuable investment for those who frequently travel and use the card's benefits, but may not be worth it for those who do not.
0 Comments