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by Daniel | Last Updated May 21st, 2021 We may earn a commission for purchases using our links, at no cost to you. In this article I am going to review the American Express Platinum Business card, then go over some of the benefits and rewards that it offers and then I will decide whether it is worth it. And the first thing to note about this card is the annual fee, which is currently $595.This is one of the most expensive business credit cards on the market at the moment. Now although that is quite expensive, it is actually possible to offset that fee for the first 2 years if you qualify for the sign-up bonus. https://youtu.be/kOHW1Tn6jvM Apply for an American Express Business Platinum Card here. Sign-up Bonus So to begin with the Platinum Amex Business card comes with a generous 100,000 membership rewards points when you first sign up for the card.Now to receive these points you will need to spend a minimum of $15,000 in purchases within the first 3 months of opening the account.And yes, this is quite a high minimum spend for a credit card and may not suit everybody or every business but if you do run a business that spends at least this much every couple of months, then this card offers quite a lot of benefits that might interest you.Just the signup bonus of 100,000 points is worth up to $1,000 when you use them through Amex, or they can be worth substantially more if you transfer them to partner hotel or airline loyalty programs. So if you are careful with how you actually use your points you can easily offset the annual fee for two years just with the signup points. Earning Points As for earning points with this card, there are a few options,First of all, you will receive 5 times points on any flights or pre-paid hotel bookings that are booked through the amextravel.com website.Next up you will receive 1.5 times points for purchases that are $5,000 or more up to a total of 1 million additional points per calendar year. And finally, you will receive 1 times points per dollar spent on all other purchases.So if you travel a lot for your business this card will make sense to take advantage of as it rewards you most if you travel.And similar to other premium credit cards, it does not have any foreign transaction fees, so you will be able to spend abroad without the worry of incurring ridiculous fees. 35% Airline Bonus Another perk that is exclusive to the Business Platinum Amex Card is the 35% Airline bonus.With this, if you choose to pay for all or some of your points for a trip you will receive 35% of the points back, up to a maximum of 500,000 points per calendar year.Just note that you must book either a Business or First Class ticket to receive the 35% back, or if you chose a selected airline you can travel on any class and get your 35% back. Another perk that comes with this card is the American Express Global Lounge Collection.With this, you get access to over 1300 airport lounges all over the world.So to begin with you will receive a Priority Pass card that will grant you access to most of these lounges, then from there, you will also have access to “The Centurion Lounge” which is exclusively for Amex cardholders that use either a Platinum Card or ‘Black” Centurion card.And finally, if you fly with Delta you will also have access to Delta Sky Club. Hotel Benefits Next up you will receive multiple benefits for different Hotels. First of all, you will get Marriot Bonvoy Gold Elite Status - this gives you the opportunity to receive upgrades to rooms on check-in when available. You will also get Hilton Honors Gold Status this will also allow for an upgraded room if it is available and you will also receive free continental breakfast for up to 2 people (you and a guest). And finally, you will be part of the Fine Hotels and Resorts Program.This includes perks such a room upgrades when available, daily breakfast for 2 people, Noon check-in and guaranteed 4 pm check out, and $100 Experience credit for things like using the spa or for food and beverage. Global Entry or TSA Pre-Check Another travel-related perk that you get with this card is reimbursement for either Global Entry or TSA PreCheck, this will save you either $85 for the TSA PreCheck or $100 for Global Entry.Either one of these options is useful if you travel frequently as it can save you some time when checking in or arriving at the airport. Trip Insurance The Amex Business Platinum card also comes with both Trip Cancellation insurance and Trip Interruption Insurance, both include coverage of up to $10,000 per trip and up to $20,000 per eligible card per 12 month period. You will also get baggage insurance if you purchase the entire fare on your card, this will cover up to $2,000 for checked baggage and up to a total of $3,000 for both checked and carry-on luggage. Auto Benefits Another useful benefit that you will get is Car Rental Privileges with Avis, Hertz, and National.This gives you the opportunity to get upgrades and discounts if they are available.Along with this, the card comes with Car Rental Loss and Damage Insurance.So if you pay for the entire car rental with your card you can choose to forgo the collision damage waiver from the car company which will save you money.But be aware there are a few exclusions and restrictions that come with this.You will not have coverage in Australia, Italy, or New Zealand and it does not include liability coverage. Purchase Protection and Extended Warranty You will also get Purchase Protection and this gives you 90 days to help protect recent purchases if they are lost, stolen, or accidentally damaged.And it will cover up to $10,000 per occurrence and $50,000 per calendar year.Along with Purchase Protection, you also get an extended warranty, This will match the original manufactures warranty for up to 1 additional year as long as you purchase the item with your Platinum card.This is available for products that have a warranty of 5 years or less and that are sold in the United States. And the coverage is up to $10,000 per item, with a maximum of $50,000 per calendar year. One other benefit that comes with this card is a $200 annual credit to use with Dell Technologies, basically, you will get $100 in statement credit from January to June and then another $100 from July to December. Is It Worth $595 Per Year? So is the Platinum American Express Business Card really worth it?I think if your business has been established for some time and can easily cover the $15,000 initial spend limit to receive the 100,000 bonus points, and you also travel a fair bit then yes, it is a great card.But if you are a new business with a small turnover I would not recommend this card as it will be hard to get enough value from the card due to the large spend requirements to receive bonuses.A far cheaper option to look at would be the Chase Ink Business Preferred Credit card, as this has an annual fee of just $95 and offers similar rewards and benefits.