When you consider adding a card that boasts an annual fee close to $900, it makes sense that you’d want to seriously weigh out its benefits before applying.
With the The Business Platinum Card® from American Express, its $895 annual fee (see rates and fees) could be potentially justified by its multiple perks and statement credits.
Still, the Amex Business Platinum isn’t the best choice for every business owner.
Here’s what you need to know about whether paying the high annual fee of Amex Business Platinum is worth it for you.
Welcome bonus
New applicants to the Amex Business Platinum can earn 200,000 bonus points after spending $20,000 in eligible purchases within the first three months of card membership.
According to TPG’s October 2025 valuations, American Express Membership Rewards points are worth 2 cents apiece, making this bonus worth $4,000.
This heightened welcome offer could make the card worth adding to your wallet, especially since TPG’s valuation deems it worth more than four times the $895 annual fee.
Still, the bonus is a one-time perk, and just how much value you get from it will depend on how you redeem your points.
Related: How to redeem American Express Membership Rewards for maximum value
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Lounge access
Those who have the Amex Business Platinum can access a wide range of lounges through the American Express Global Lounge Collection. (Access is limited to eligible cardmembers.)
These include:
You can consult the Global Lounge Collection’s online search function to find lounges accessible on your next trip. Access is limited to eligible cardmembers.
When visiting these lounges, you can enjoy benefits like complimentary snacks, food, drinks (sometimes including complimentary alcohol) and complimentary Wi-Fi. Certain lounges will have better benefits, such as full meals, showers, children’s play areas and more.
Related: Best lounge access credit cards: 4 picks for frequent flyers
Hotel elite status
Cardmembers can register for automatic elite status with Hilton Honors, Leading Hotels of the World’s Leaders Club and Marriott Bonvoy. This benefit provides Gold status for Hilton and Marriott and Sterling status for Leaders Club. (Enrollment is required.)
These elite statuses can provide multiple benefits such as late checkout, room upgrades and bonus points.
If you’re not already loyal to a particular hotel brand, automatically receiving three elite statuses could be seen as a major perk for business owners.
Related: Comparing the best hotel elite status tiers and how to earn them
Car rental elite status
Cardmembers can enroll for complimentary elite status with multiple car rental programs.
These programs are Avis Preferred, Hertz Gold Plus Rewards and National Emerald Club. (Enrollment is required for these benefits.)
Rental car elite status provides benefits like car upgrades, a free second driver, and the ability to skip the line and go straight to your car at the start of your rental.
One of the best benefits of car rental elite status in any program is the ability to status match with other rental car programs, helping you gain status in numerous programs simultaneously. This is a fantastic perk that can easily help offset the annual fee if you frequently rent cars.
Related: Here’s everything you need to know about rental car elite status
Annual airline statement credits each calendar year
Traveling can sometimes come with costly fees that show up in the form of paying for checked bags or upgrading to a better seat on your flight. Fortunately, Business Platinum cardmembers can offset those fees with up to $200 in statement credits for airline incidental fees per calendar year.
Business Platinum cardmembers can choose one of the following airlines as their preferred airline: Alaska Airlines, American Airlines, Delta Air Lines, Hawaiian Airlines, JetBlue Airways, Spirit Airlines, Southwest Airlines or United Airlines.
Before using this benefit, you must choose a preferred airline. The benefit can cover change and cancellation fees, seat selection fees, upgrade fees, checked bag fees and more.
This flexible credit can be easy to use and potentially makes the annual fee worth it.
Related: How to use the Amex Platinum $200 airline fee credit
Pay with Points perk
When using points to pay for a flight through Amex Travel, Business Platinum cardmembers can get 35% of their points back. This applies to flights booked with your selected qualifying airline (the same one you choose for your airline incidental credit; up to 1 million points back per calendar year).
Cardmembers can enjoy up to 1 million points refunded through this benefit every year, so it could be a fantastic one to maximize and help offset the $895 annual fee.
Related: Why I love the Amex Business Platinum’s Pay With Points perk
Fine Hotels + Resorts and The Hotel Collection
Amex Business Platinum cardmembers can book stays with Fine Hotels + Resorts and The Hotel Collection.
Plus, for these bookings, the card now offers an up to $600 hotel credit per calendar year (up to $300 back in statement credits biannually on prepaid Fine Hotels + Resorts or The Hotel Collection bookings through American Express Travel®; minimum two-night stay for THC).
FHR stays include benefits like daily breakfast for two, late checkout, complimentary Wi-Fi and room upgrades (if available at check-in). Each stay also includes a unique experience credit worth $100, typically in the form of dining credits or spa credits.
THC stays include room upgrades (if available at check-in) and a $100 property credit (with bookings of two consecutive nights or more) to spend on qualifying dining, spa and resort activities.
Access to this credit and these programs certainly helps offset the $895 annual fee, as long as you travel regularly enough to use the perks.
Related: A comparison of luxury hotel programs from credit card issuers: Amex, Chase and Capital One
Bonus points for airfare, hotels and business expenses
When cardmembers play with the Business Platinum, they can earn 5 points per dollar on airfare and prepaid hotel bookings made through American Express Travel.
This earning rate also includes bookings with Fine Hotels + Resorts and The Hotel Collection.
Cardmembers can also earn 2 points per dollar on purchases at U.S. construction material and hardware suppliers, electronic goods retailers, shipping providers, and software and cloud system providers, as well as on each eligible purchase of $5,000 or more, up to $2 million of these purchases per calendar year.
If your business frequently spends in these categories or on purchases of at least $5,000, you could rack up valuable Membership Rewards points.
Related: Get free breakfast, room upgrades and more with the Amex Fine Hotels + Resorts program
Quarterly Hilton statement credits
The Business Platinum also features a quarterly statement credit for purchases with Hilton. Cardmembers receive up to $200 in statement credits per calendar year, split into four up to $50 quarterly credits. (Enrollment is required.)
You can earn the credit simply by making a purchase directly with a Hilton portfolio property using your Business Platinum card. Eligible charges include room rates and incidental purchases, like dining, room service, and spa treatments.
It’s important to note you’ll need to enroll in the Hilton for Business program to be eligible for the statement credit. If you’re not a member of Hilton for Business, you’ll be registered when you enroll in the card’s benefit.
Again, if you will stay with Hilton frequently enough to maximize this credit, it also makes the card’s annual fee worth it.
Related: 9 things to do when you get the Amex Business Platinum Card
Global Entry or TSA PreCheck application fee reimbursement
Business Platinum cardmembers can receive statement credits to reimburse their application fees for Global Entry (up to $120) or TSA PreCheck (up to $85). This benefit is available every four years for Global Entry or every 4 1/2 years for TSA PreCheck.
With this perk, you can navigate through airport security in the U.S. faster with PreCheck lanes at certain airports. Even better, Global Entry allows you to enter the U.S. through passport control more quickly with designated lanes.
Annual Clear Plus membership credit
While Clear isn’t a government security program, it can help you speed through security checkpoints at airports and select stadiums with biometrics.
Cardmembers can receive reimbursement in statement credits of up to $209 per calendar year for Clear Plus membership fees. (Enrollment is required for this benefit. Pay with your Business Platinum card to automatically receive a statement credit; it’s subject to auto-renewal.)
These credits can provide fantastic value to frequent travelers, especially if you don’t already have a card with these perks.
Related: 7 ways to get free or discounted TSA PreCheck, Global Entry and Clear
Cellphone protection and wireless credits
If you pay your monthly cellphone bill with the Business Platinum, you’ll receive cellphone protection to cover your phone against loss or damage. There is a maximum of $800 liability per claim, and each claim is subject to a $50 deductible. There’s also a limit of two claims per eligible account in a 12-month period.
Covered phones are restricted to cellphone lines listed on a mobile phone plan paid with the eligible card during the most recent billing period.*
Plus, you’ll receive up to $120 per calendar year in statement credits for purchases made directly from any U.S. wireless telephone provider (up to $10 per month), which also helps offset the annual fee.
Combining this protection with the monthly wireless credits covered above is a great way to invoke insurance benefits plus a discount on your monthly cellphone bill.
*Eligibility and benefit levels vary by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by New Hampshire Insurance Company, an AIG Company.
Related: Your complete guide to shopping protections on American Express cards
Other business-related credits
Finally, depending on their regular spending, business owners could maximize multiple statement credits on the Business Platinum.
These include:
- Dell statement credit: Up to $150 per calendar year in statement credits on U.S. purchases made directly at Dell and an additional $1,000 statement credit after spending $5,000 or more with Dell each calendar year
- Indeed credit: Up to $360 statement credit per calendar year (up to $90 per quarter)
- Adobe statement credit: Up to $250 statement credit after spending $600 or more on U.S. purchases made directly at Adobe each calendar year (subject to auto-renewal)
Plus, after spending $250,000 or more on eligible purchases (spending on your card this year counts toward the requirement), you’ll earn up to $1,200 in Amex Travel flight statement credits and up to $2,400 in One AP statement credits (valid from Jan. 1 to Dec. 31 of the calendar year after meeting the requirement).
If your business is able to use these credits or spend up to the high-value Amex Travel flight and One AP credits, this could definitely help offset the card’s high annual fee.
Related: Forgettable statement credits checklist: Perks and benefits not to be overlooked
Bottom line
With so many statement credits and perks to maximize on the Business Platinum, there are many ways that organized business owners can recoup their annual fee.
An $895 annual fee is certainly worth considering. As long as you find the value of the card’s benefits to be higher than that, an application could be in order.
Overall, it depends whether your business expenses and travel preferences make the card’s high annual fee worth it.
To learn more, read our full review of the Amex Business Platinum.
Apply here: The Business Platinum Card from American Express
For rates and fees of the Amex Business Platinum, please click here.