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The Enhanced Business Platinum® Card from American Express OPEN Review

Pros & Cons

  • For a limited time, new cardholders can earn 100,000 Membership Rewards® bonus points by spending $5,000 (50,000 points) and then another $10,000 (another 50,000) on their new card in the first three months.
  • This card gives you complimentary access to airport lounges around the world, including access to the Global Lounge Collection.
  • Offset some of those travel expenses that add up fast, like checked bagged fees and in-flight refreshments, with up to $200 per year in airline fee credit to your statement.
  • The $450 annual fee is substantial. If you don't expect to spend enough to offset the fee, you might consider a no-annual-fee travel rewards business card like the Capital One® Spark® Miles for Business.

Full Review

Brooklyn Lowery Site Editor

The Enhanced Business Platinum Card® from American Express OPEN Essentials

Heads up business big spenders with regular business travel responsibilities: The Enhanced Business Platinum® Card from American Express OPEN is made for you (American Express is a CardRatings advertiser).

If you're familiar with the consumer version, The Platinum Card® from American Express, you know that it comes with some impressive rewards-earning opportunities as well as the kind of added perks and features that make discerning credit card customers sit up and take notice.

The business version, The Enhanced Business Platinum® Card from American Express OPEN, offers many of those same perks as well as a number of additional features that you would expect from a business credit card with a $450 annual fee.

The Enhanced Business Platinum® Card from American Express OPEN is rewarding right from the outset, giving big spending, business chargers the opportunity to earn 50,000 Membership Rewards® points after making $5,000 in purchases and then the opportunity to earn an additional 50,000 points with an additional $10,000 in charges all within the first three months. (the offer expires on Jan. 25, 2017). You also earn two Membership Rewards® points for each dollar spent when you book travel via the American Express travel portal and one point per $1 on all your other purchases. You can also earn 1.5 points per dollar on each qualifying purchase of $5,000 or more for up to 1 million additional points each year.

And The Enhanced Business Platinum® Card from American Express OPEN also offers some impressive perks for travelers, including up to $200 each year in statement credit to cover incidental airline fees such as checked bag fees and in-flight refreshments on a pre-selected qualifying airline.

Key features of The Enhanced Business Platinum Card® from American Express OPEN

  • Earn two points per dollar spent when booking travel through the American Express Travel website and one point per dollar on all other purchases. Earn 1.5 points per dollar on each purchase of $5,000 or more for up to 1 million additional points each year.
  • Pay for your flight with Membership Rewards® points on a qualifying pre-selected airline and receive 50 percent of the rewards points back. Or receive 50 percent back for all first or business-class tickets available through American Express Travel.
  • No foreign transaction fees.
  • Receive up to $200 in statement credit for incidental airline fees on a pre-selected qualifying airline.
  • Boingo access via more than 1 million hotspots worldwide, plus 10 Gogo passes for in-flight Wi-Fi per year.

If case you haven't noticed by now, the The Enhanced Business Platinum® Card from American Express OPEN is offering plenty of features and benefits to justify that $450 annual fee.

What Our Editors Like Most About The Enhanced Business Platinum Card® from American Express OPEN

The very best feature of The Enhanced Business Platinum® Card from American Express OPEN is that it knows its an elite business card and it delivers the perks and features you'd expect it to. Sure, the $450 annual fee is prohibitive for some business owners, but you do get quite a lot in return for the cost of carrying this card.

Let's focus on the rewards features first. The Enhanced Business Platinum® Card from American Express OPEN offers members the opportunity to earn double rewards points for their travel-related charges when they charge air, prepaid hotel, vacation packages or cruise reservations through amextravel.com. In addition, you earn one Membership Rewards® point for each dollar in eligible purchases. And now you can earn 1.5 points per dollar spent on each purchase over $5,000 for up to 1 million additional points each year.

Those rewards can be redeemed to cover business expenses, for travel or for any number of products and services.

If you do decide to redeem your points for flights, you can make your rewards go further by booking on a qualifying pre-selected airline. The Enhanced Business Platinum® Card from American Express OPEN card members receive five points back for every 10 points they redeem for flights on a qualifying, pre-selected airline or for any business- or first-class flight purchased through American Express Travel.

While we're on the subject of travel perks, that is where The Enhanced Business Platinum® Card from American Express OPEN truly earns its annual fee and appeals to the road-weary business traveler out there.

First, there's the airline fee credit. You can earn up to $200 annually in statement credit to cover incidental airline fees – checked bags, in-flight meals, seat upgrades, etc. – on a qualifying airline that you select (the same airline that you'll earn 50 percent of your points back on when you redeem). You'll be able to change your selection each January if you want. If you take advantage of the full credit, you effectively lower the annual fee from $450 to $250 just by utilizing this one perk.

A couple of fees you WON'T be paying with The Enhanced Business Platinum® Card from American Express OPEN are airport lounge access fees and Wi-Fi access fees. That's because The Enhanced Business Platinum® Card from American Express OPEN cardholders enjoy free access to hundreds of airport lounges around the globe, including those that are part of the Global Lounge Collection, as well as 10 passes for in-flight Wi-Fi on participating airlines annually and access to more than 1 million Boingo hotspots worldwide.

Oh, and The Enhanced Business Platinum® Card from American Express OPEN also reimburses you once every five years for your TSA Precheck or Global Entry application fees.

All these fees you AREN'T paying go a long way to offsetting the seemingly steep annual fee.

Moving on, The Enhanced Business Platinum® Card from American Express OPEN cardholders are also eligible to enroll in complimentary Starwood Preferred Guest® (SPG ®) Gold Preferred Guest status and Hilton HHonors Gold status. While each program comes with its own set of perks and features, suffice it to say you'll enjoy VIP treatment and discounts at the respective hotel properties when you enroll.

The Enhanced Business Platinum® Card from American Express OPEN comes with no pre-set spending limit and functions as a charge card, not a credit card, which means you'll need to pay off your balance in full each billing cycle (some cardholders could be eligible for a pay-over-time feature). That's actually a good way to keep your business spending under control.

And the card's sign-up bonus of up to 100,000 Membership Rewards® points after spending $5,000 in purchases plus an additional $10,000 in your first three months of membership, is sure to get you off on the right rewards-earning foot.

Just in case you didn't assume as much, you won't be paying foreign transaction charges with The Enhanced Business Platinum® Card from American Express OPEN, so it's a solid business travel option whether you're staying in the U.S. or headed abroad.

Potential Downsides of The Enhanced Business Platinum Card® from American Express OPEN

Obviously, the $450 annual fee is something to consider with this card. Many business owners, especially those just getting their businesses off the ground and counting every penny poured into building the business, would likely benefit more from a business rewards card with a lower annual fee. You can always upgrade later.

It's also important to note that this is a charge card, not a credit card. That means that all charges made on the card must be paid in full when you receive your periodic statement. Pay late and you'll incur a late fee of $38 or 2.99 percent of any past due, pay-in-full amount, whichever is greater. If you anticipate needing to carry a balance at any point, you'll want to look for another card.

How The Enhanced Business Platinum Card® from American Express OPEN Compares to Other Business Rewards Cards

The Enhanced Business Platinum Card® from American Express OPEN vs. Bank of America® Travel Rewards World MasterCard® for Business

You won't get the platinum-level of perks with the Bank of America® Travel Rewards World MasterCard® for Business credit card, but you also won't be paying any annual fee.

Bank of America® Travel Rewards World MasterCard® for Business credit card cardholders earn three points per $1 on travel purchases made through the Bank of America Travel Center, powered by Orbitz, and 1.5 points per $1 on all other purchases, so the rewards earning tiers are actually higher with the Bank of America card. Still, you'll be missing out on the fee credits and other perks offered by The Enhanced Business Platinum Card® from American Express OPEN.

If you're a business traveler who wants the rewards for that travel, but can't justify the annual fee of The Enhanced Business Platinum Card® from American Express OPEN, the Bank of America® Travel Rewards World MasterCard® for Business credit card is a solid option.

Furthermore, if you're just getting your business off the ground or otherwise have a number of purchases coming up, you could benefit from the introductory 0 percent APR on purchases for nine billing cycles offered by the Bank of America® Travel Rewards World MasterCard® for Business credit card.

The Enhanced Business Platinum Card® from American Express OPEN vs. Capital One® Spark® Miles for Business

The Capital One® Spark® Miles for Business credit card offers you the simplicity of a flat-rate rewards card and the perks of a travel business card in one. With a $59 annual fee (waived for the first year), you stand to easily offset that fee and then some with the two-miles-per-$1- spent on all your purchases rewards.

Miles earned with your Capital One® Spark® Miles for Business can be redeemed for travel without any blackout dates or seat restrictions. There are additional redemption options, such as cash back and gift cards, available as well.

That said, if you appreciate some added creature comforts when you fly for business, Capital One® Spark® Miles for Business won't necessarily put those at your disposal like The Enhanced Business Platinum Card® from American Express OPEN does, but you will also only pay a $59 annual fee.

The Enhanced Business Platinum Card® from American Express OPEN vs.Ink Plus® Business Credit Card

(This offer is no longer available) If you're interested in rewards, but don't want to restrict your highest earning potential to travel purchases, you might want to check out the Ink Plus® Business Credit Card. You'll pay an annual fee of just $95.

With the Ink Plus® Business Credit Card, you'll earn

  • 5 points per $1 on the first $50,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year.
  • 2 points per $1 on the first $50,000 spent in combined purchases at gas stations and hotel accommodations when purchased directly with the hotel each account anniversary year.
  • 1 point per $1 on all other purchases-with no limit to the amount you can earn.

You can redeem the points you earn for travel, so the Ink Plus® Business Credit Card is still worth a look if you're a frequent business traveler. 

What you won't get with this card is those stellar travel perks that come with the The Enhanced Business Platinum Card® from American Express OPEN.

Who Should Get This Card?

Frequent business travelers who appreciate some added comforts when they travel and can offset the $450 annual fee with the rewards they earn are ideal candidates for the The Enhanced Business Platinum® Card from American Express OPEN. If the added travel perks don't mean that much to you, you might want to consider another business card with higher rewards-earning potential.

The Enhanced Business Platinum® Card from American Express OPEN details

Balance Transfer Intro APR
N/A
Balance Transfer Intro Period
Purchase Intro
APR:
N/A
Purchase APR
N/A 
Annual Fee
$450

What American Express says about this card

  • LIMITED TIME OFFER: Earn up to 100,000 Membership Rewards® points. Offer expires January 25, 2017.
  • Earn 50,000 Membership Rewards points after you spend $5,000 and an extra 50,000 points after you spend an additional $10,000 all on qualifying purchases within your first 3 months of Card Membership.
  • NEW: Get 50% more Membership Rewards® points. That's 1.5 points per dollar, on each qualifying purchase of $5,000 or more. You can get up to 1 million additional points per year.
  • Plus, continue to get one point per dollar for qualifying purchases under $5,000.
  • NEW 50% Airline Bonus: Use Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline, and you can get 50% of the points back.
  • NEW: You can also receive 50% points back on all First and Business class flights, with all airlines available through American Express Travel.
  • You can enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
  • Terms & Restrictions Apply

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Featured offers
Currently available on the The Enhanced Business Platinum® Card from American Express OPEN
100,000 Membership Rewards® points
Offer expires January 25, 2017. Earn 50,000 Membership Rewards points after you spend $5,000 and an extra 50,000 points after you spend an additional $10,000 all on qualifying purchases within your first 3 months of Card Membership.

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