The card offers the perks that are worth every penny you pay for it.
This card comes with a very steep price to pay for the privilege of using it. It amounts to $450. Still, we believe that the annual fee isn’t the reason for you to brush aside the very ideal of having it. Those who are lucky to have the card can enjoy lots of benefits including a set of exclusive perks. Below we provide the most important information about the card that you should read through before deciding whether it’s good for you or not.
Basic features of the card
Apart from a very big sign-up bonus, you have a chance to earn an additional reward – 25,000 points. These points will be credited to your account if you manage to spend more $10,000 on the purchases from eligible categories within the period of time of 3 months. As for the redemption, you have lots of options to choose from including travelling purposes, donations and even buying items on Amazon. The rewards rates you’re to expect with the card are as follows: 5 points / $1 (when booking tickets with airlines as well as booking prepaid hotels via the official AMEX website) and 1.5 points / $1 (for the purchases that come at the price of $5,000 and more).
General information on the card
- The card grants its owner the right to get into the airport lounges.
- There are very high rewards rates that apply for certain travel purchases.
- There is a very appealing sign-up bonus to take advantage of.
- If you’re going to travel, you can take this card with you without hesitation. There are no extra charges for the purchases made abroad.
- The fee that a cardholder is required to pay is rather steep.
- You don’t get a simple and straightforward rewards structure with this card.
- There is a number of other credit cards out there that offer higher effective rates on the purchases made in “travel” category.
- You qualify for the card only if your credit score is good or excellent.
- Special offer concerning APR: No offer for this card.
- Standard APR is unknown. If you want to get more details concerning APR, visit the official website of the emitting bank.
- The fee you’re expected to pay amounts to $450.
- Special Offer: You have an opportunity to get several bonuses. The first bonus of 50,000 Membership Rewards® points is given to you once you spent $10,000 on various purchases. The second bonus of 25,000 Membership Rewards® points is given to you once you spent additional $10,000. Pay attention to the fact that the offer is a subject to certain terms.
More details concerning the card:
- The card allows you to easily earn as many as 75,000 bonus points thus welcoming you as a new cardholder.
- Do not forget that the bonuses that come with the card will be given to you only if you meet the corresponding requirements.
- With this card it’ll be very beneficial for you to book your flights and hotels via the AMEX travel website since you get 5 times more rewards for each dollar you spend.
- In case you need to make a one-time purchase the sum of which is $5,000 or more, you’ll be rewarded 50% more points.
- The card gives you the right to use your points in order to book tickets with the airline you’re loyal to. In some cases, you can get 35% of your points back.
- Those who prefer flying either in the First or Business class, will get 35% of the points back when booking tickets via the AMEX official travel website.
- The card comes with the biggest list of airport lounges in comparison with other US cards. Actually, this card will grant you the pass to almost every airport lounge all over the world.
- We encourage you to read the terms that apply to the card’s offers thoroughly since they may be subjects to changes.
We’ve already mentioned the fact that the card comes at a high price to be paid annually. However, there are some things that make this card worth this sum. First of all, there are no additional charges you’re required to pay when making purchases abroad. Besides, this card is a charge which means that there is no fixed limit and you don’t carry a balance with it. You need to make sure that you’ll mange to pay in full every month because the fee that occurs in case you make no payment or late payment is higher than the penalty fee that comes with standard credit cards.
The perks you get in return for the high annual fee implied by the card
No doubt, the annual fee implied by the card may come as a mere shock to you. Still, we believe that this card has a number of perks that make up for the price you pay.
- As a cardholder, you’re given $200 airline credit that can be used for incidentals. The credit is provided for the airline you choose yourself.
- You’ll get a credit to cover the expenses that occur in case of Global Entry or TSA PreCheck applications. You’ll be given a credit of either $85 or $100 once in 5 years.
- Being a cardholder, you get access to lots of airport lounges. The card goes with the Lounge Collection that involves more than 1,000 lounges all over the world.
Taking into account these perks as well as the effective rewards rates, we’ve come to the conclusion that cardholders more than make up for the annual fee.
The reasons for you to consider applying for the card
We know that it’s impossible to know if the decision you make is right or wrong without having a look at the benefits a card has to offer. Here are the benefits of the Business Platinum® Card from American Express OPEN:
- You’ll have a chance to get a very appealing sign-up bonus. Actually, the card promises 2 sign-up bonuses for you to get. All in all, you may be rewarded 75,000 points. this sounds just fantastic especially considering the fact that the requirements you need to meet aren’t that tough. For both the bonuses the same time limit of 3 months applies. We recommend you reading through the terms of these bonuses beforehand because they may change.
- As a cardholder, you get a set of exclusive perks to enjoy. You already know that the card is very advantageous from the point of view of its travel perks. Apart from the perks mentioned above you’re also to expect the following:
In case you decide to purchase a ticket either in the First or Business class, you’ll get a companion ticket on discount.
You get a set of exclusive perks when it comes down to renting a car (including upgrades and discounts).
You’ll be granted the Gold Membership status in the SPG program.
You’ll get a free access to Boingo Wi-Fi hotspots (more than 1,000 hotspots all over the world). It means that you’ll be able to stay online even if you’re travelling.
- You’ll get certain shopping perks. Those who like to go shopping will find this perk very appealing. The card allows you to get a reimburse in case your purchase gets lost or damaged within the period of time of 90 days. Besides, you’ll also have a longer warranty (+1 year to the manufacturer’s warranty).
- You won’t have to pay any additional charges when buying anything with the card abroad. Those who already have an AMEX card know that the majority of the cards from the issuer come with an additional charge of 2.7% that applies to the purchases made by a cardholder while travelling. With this card you won’t have to spend any extra money. Moreover, the issuer guarantees that you won’t face any problems when trying to use the card internationally (provided that it’s accepted at the places you’re going to pay with it) This is possible due to the EMV chip.
- You’ll be able to choose from lots of redemption options. The card offers lots of ways in which you can use the points you earn. You’ll definitely find something that you need!
The reasons for you to consider applying for a different card
Since the card comes at a high price to pay for it, potential cardholders should decide if the perks provided are really worth it. Below we discuss the reasons for you to reject the idea of applying for the card.
- You’re not the person who often goes on business trips. The fact is that the card comes with a number of travel rewards only. If you know that you won’t go on business trips very often, we think it’s better for you to think of applying for a different card. For example, the Ink Business Cash℠ Credit Card. This card has neither annual fee nor additional charges for the purchases made abroad, but it offers a set of perks that are handy in terms of business expenses. You’re to expect the following rewards rates: 5% on office supplies as well as cable/telecom services and 2% on the purchases made at gas stations and restaurants. Both the rates apply to the sum of $25,000 spent in each of the categories within a year. All the rest purchases go under 1% rate.
There is also a sign-up bonus of $300 cash back waiting for you. The bonus is given to a cardholder only under the condition that he/she manages to spend at least $3,000 making purchases with the card within the first 3 months. There is also implied an interest free period that lasts for 12 months (applies for the purchases as well as balance transfer operations). After that, the standard rate of 14.24 – 20.24% applies. The offer is great for those who want to have a little bit of time ahead to pay off business purchases without the need to pay any interest.
All in all, this card is the right option for you if any of the abovementioned meets your needs.
- You run a small business that doesn’t have high expenses. Since the value of each point you earn with the card amounts to 1 cent, you’ll need to spend at least $45,000 to make up for the annual fee. If your expenses are not so high, the Business Platinum® Card from American Express OPEN is definitely not worth it.
Summary: Is the Business Platinum® Card from American Express OPEN exactly the card you’re looking for?
If you’re a businessman or a businesswoman who spends a lot on business trips and wants to enjoy the perks that are offered, the card is perfect for you. At the same time, if you think that one of the reasons mentioned above describes your situation, you’d better continue looking for your ideal card.