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One of the hottest credit card offers we’re seeing at the moment is on The Business Platinum® Card from American Express OPEN, which recently received some new benefits, as well as a welcome bonus of up to 100,000 Membership Rewards points upon completing minimum spend.
While a lot of people are familiar with the increased welcome bonus and new perks on the card, I figured I’d look at the big picture, and talk about the 10 best benefits of the Amex Business Platinum Card:
1. A 100K point welcome bonus
As mentioned above, the card has the best available welcome bonus we’ve ever seen on it, and it’s awarded as follows:
- 50,000 Membership Rewards points after spending $10,000 within three months
- An additional 50,000 Membership Rewards points after spending another $15,000 within that same period
So while the minimum spend is big, the reward here is huge, especially for those who are big spenders. The 100,000 points can be redeemed for up to two cents each, so the bonus is potentially worth up to $2,000 in travel.
Even the 50,000 point bonus after spending $10,000 is bigger than the usual welcome bonus on the card, so it could be worth signing up even if you’ll only be able to spend $10,000.
2. More valuable points
Historically the best way to redeem American Express Membership Rewards points is to transfer them to one of Amex’s airline partners, so you can redeem for first or business class.
Well, the biggest new perk that was announced for the Amex Business Platinum Card is that you now receive a 35% refund on points when using Membership Rewards Pay with Points to book a flight with your selected airline, or when booking a flight in first or business class on any airline.
Essentially this means you can get up to 1.54 cents per point of value out of your Amex points, which is a bit lower than I otherwise value those points. Best of all, you can combine all your Amex Membership Rewards points at this rate, meaning that having this card increases the value of all your Amex points. This is a pretty good opportunity.
For more on this benefit, see my post about combining Amex Membership Rewards points to maximize their value, and my post about how you can use this benefit to get cheap first & business class tickets.
3. A $200 airline fee credit ($400 before second year’s annual fee)
The card offers a $200 annual airline fee credit, calculated per calendar year. Technically these are airline fee credits (meaning they can’t be used towards ticket purchases, etc.), which can be used for the following, per the terms & conditions:
Airline tickets, upgrades, mileage points purchases, mileage points transfer fees, gift cards, duty free purchases, and award tickets are not deemed to be incidental fees.
However, for years the purchase of airline gift cards has been reimbursed as well under the airline fee credit offer, assuming you purchase them in fairly small increments. For example, earlier in the year I had two $100 American Airlines gift cards automatically reimbursed under this benefit:
Also, since this benefit is on a per-calendar year basis, you can pick up $200 in airline credits through December 31, and then another $200 in airline credits starting January 1. In other words, that’s $400 in airline credits before your second year’s annual fee is due.
4. Access to Centurion Lounges
These lounges are significantly nicer than what you’ll typically find from other US airlines, as Centurion Lounges have free premium cocktails and legitimate food. I’d pay a couple of hundred dollars a year for access to these lounges, so this nicely helps offset the annual fee, in my case.
5. Access to Delta SkyClubs & Priority Pass lounges
The Platinum Card gets you access to Delta SkyClubs. While you’re not allowed to bring in guests for free, SkyClubs really have gotten significantly better the past few years, so being able to get in with this card is fantastic.
The card also comes with access to Priority Pass lounges, which is the largest independent network of lounges in the world.
6. Access to Amex Fine Hotels & Resorts
Amex Fine Hotels & Resorts is a program that gives you special perks at 800+ hotels around the world. For booking through Fine Hotels & Resorts you receive the following:
- Daily breakfast for two people
- Room upgrade upon arrival, when available
- A unique property amenity (usually a $100 property credit, free massage, car transfer, etc.)
- Guaranteed 4PM check-out
- Noon check-in, subject to availability
- Complimentary in-room wifi (exclusions apply)
Virtuoso and Amex Fine Hotels & Resorts have a lot of overlap, though there are situations where I find it more beneficial to book through one program rather than the other.
7. 10 free Gogo wifi passes
This is a benefit that’s exclusive to the business version of the card, and it’s not available on the personal version. For having this card you receive 10 free Gogo wifi passes each calendar year, each valid for a single flight. This benefit is easily worth $150+ per year, in my opinion. If you’re eligible, you can request your Gogo passes here.
8. Boingo hotspot access
Just for having this card you receive complimentary Boingo wifi access at over a million hotspots around the world. When this was first announced I figured it would be useless, but I’ve actually found it to be very useful. For example, many airports, cafes, etc., have Boingo hotspots, so this is an easy way to access fast and free wifi around the world. Once you have the card, you can sign-up for a Boingo account here.
9. Free Starwood & Marriott Gold status
Those with the Amex Platinum Card receive free SPG Gold status for as long as they have the card. This earns you benefits like room upgrades, a 50% points bonus, a welcome gift, and more. Once you have the Amex Platinum Card, you can request your SPG Gold status here.
Perhaps best of all, once you have SPG Gold status you can match it to Marriott Gold status, which is even more valuable. That comes with things like room upgrades, lounge access, free breakfast, etc.
10. Free Hilton Gold status
Those with the Amex Platinum Card receive free Hilton HHonors Gold status for as long as they have the card, which is Hilton’s mid-tier status. This earns you benefits like room upgrades, bonus points, lounge access, and free breakfast. That’s extremely valuable, given that you receive it just for having this card. Once you have the Amex Platinum Card, you can request your HHonors Gold status here.
Not only are we seeing a great welcome bonus on The Business Platinum® Card from American Express OPEN at the moment, but the card is offering a new benefit that can greatly increase the value of your points long term. Add in the fact that the card offers lots of ongoing perks that more than justify the annual fee, including access to three kinds of lounges, three hotel status levels, an airline credit, and more, and this is a very compelling time to pick up the card.