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Amex Business Platinum vs personal Platinum – what’s the difference?

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A regular question I get asked by readers is how American Express Business Platinum differs from The Platinum Card.

With the recent fee increase on The Platinum Card (the personal card) I wanted to update this article.

We have a similar article on how American Express Platinum differs from American Express Preferred Rewards Gold which you can find here.

Differences between business and personal american express platinum cards

What benefits are shared between American Express Business Platinum and personal Platinum?

Before we get onto the differences, which are modest, let’s look at the benefits which both cards share.

Note that this list is not comprehensive – I have focused on the travel related benefits – and you should study the Amex Business Platinum website and The Platinum Card website for full details.

You can opt in for most of these benefits via this page of the American Express website. This page is not well promoted by Amex and a lot of Platinum cardholders don’t know it exists.

Airport lounge access

You will receive a free Priority Pass card.  Priority Pass is a network of 1,300 airport lounges across the world, including SEVEN in London Heathrow.  This includes the Club Aspire and Plaza Premium lounges in BA’s Heathrow Terminal 5.  Your Priority Pass allows an unlimited number of free visits to their lounges.  You can also bring in a guest for free.

You can also give a Priority Pass card to a second person via your free supplementary Platinum card.  If this is your partner or spouse, you would both be able to get into the lounge for free and each bring in a free guest.  This means that a family of four can get into a lounge if you give your partner the second card.

You can also access American Express Centurion lounges with a guest, including the new Centurion Lounge in Heathrow Terminal 3.

Amex Business Platinum and personal Platinum differences

Hotel status

You will receive Gold status in the Marriott Bonvoy hotel loyalty scheme.  This will give added benefits at Marriott, Renaissance, Sheraton, Westin, W, aloft, St Regis, The Ritz-Carlton, The Luxury Collection etc properties – 31 brands in total.

You will receive Premium status in the Radisson Rewards hotel loyalty scheme.  This will give added benefits at Radisson Blu / RED / Individuals, Park Plaza and Park Inn hotels. One key benefit of Premium is the ability to activate ‘Discount Booster’ and receive an additional cash discount of c 10% in return for earning fewer points.

You will receive Gold status in the Hilton Honors hotel loyalty scheme.  This is the best mid-tier hotel status to have, because you get free breakfast with it (hotels in the US give a cash credit instead towards any F&B spend).  You will get benefits at Hilton, Waldorf Astoria, Hampton, Curio etc.

You will receive Gold status in the MeliaRewards hotel loyalty scheme.  You will get benefits at Melia and INNSiDE hotels, with benefits including three 20% discount vouchers each year and ‘2 for 1’ breakfast.

There are also car rental status benefits with Avis Preferred and Hertz Gold Plus Rewards but these are, in all honesty, no better than deals that are generally available.

Hotel booking benefits

You can access the Amex Fine Hotels & Resorts Programme.  This offers genuine added value benefits at a large number of luxury hotels across the world.  These include a GUARANTEED 4pm check-out, free breakfast, an upgrade if available at check-in and typically a $100 credit towards on-property spending.

Day to day earning

Both cards earn 1 Membership Rewards point per £1 spent on the card, with a few exceptions.

Both cards receive Amex Offers for making purchases at specific merchants. In my personal experience, I receive slightly more offers on The Platinum Card than Business Platinum. The offers on Business Platinum are slightly more business-driven. It is rare for any of the generous hotel cashback offers we cover on HfP to appear on Business Platinum.

Differences between Amex business platinum and personal platinum

The following benefits are exclusive to American Express Business Platinum

You receive a £200 annual Amex Travel credit. This is awarded per membership year, not per calendar year. You receive £200 off a £200+ transaction at Amex Travel (flight or hotel) which is pre-paid. This is as good as cash to most HfP readers.

You receive a monthly 10,000 points bonus whenever you spend £10,000 in a statement month. If you spent exactly £10,000 per month – which is obviously unlikely – this would mean that you were earning an average of 2 points per £1, the most generous rate of any UK payment card.

You receive a free digital subscription to The Times and The Sunday Times.  This is worth over £300, and if you currently pay for this it is a huge incentive to take out the card. I have come to value this benefit and would probably continue to pay for it even if I cancelled my Business Platinum card.

You receive £150 credit per year to spend with Dell. No minimum spend applies but the credit is split into two parts. You can earn £75 cashback between January and June and £75 cashback between July and December.

You receive £300 credit per year to spend with online recruitment group Indeed. No minimum spend applies. The credit is split into one x £75 cashback for each calendar quarter.

The following benefits are exclusive to The Platinum Card (personal)

You receive £300 per year of dining credit. This is split into two chunks – £150 per calendar year to spend at roughly 160 UK restaurants, and £150 equivalent per calendar year to spend at 1,200+ international restaurants.

You receive £100 per year of Harvey Nichols credit, split into a £50 credit for each half-calendar year. You can order items instore or online.

You receive Eurostar lounge access irrespective of your class of travel. You cannot bring a guest but your partner could accompany you if you issued them with the free supplementary Platinum card. Staff will often allow children in at quiet times but this is not guaranteed and a family may be turned away.

Differences between business and personal american express platinum cards

The following benefits differ between Business Platinum and The Platinum Card

Card structure

The Platinum Card (personal) is issued as a credit card.

The representative APR is 704.6% variable, including the annual fee.  The representative APR on purchases is 31.0% variable.

American Express Business Platinum remains a charge card, meaning that you MUST repay your balance in full every month.

In reality, since I doubt many of our readers pay interest on the credit card balances, this is not a key difference.

Annual fee

Both cards have an annual fee of £650 per year.

Annual fees are tax deductible for the percentage of spending which is done for business purposes. This applies to both the personal and business card.

Both cards require a personal minimum income of £35,000 per year. Amex still looks at your personal income even if you are applying for Business Platinum.

The key difference is with fee refunds on card cancellation.

Until at least 29th February 2024, you can cancel The Platinum Card (personal) for a pro-rata fee refund. From some point after this date (TBC), fees will not be refundable if you cancel part-way through the year.

The annual fee on American Express Business Platinum will continue to be refundable at any point.

Sign-up bonus

The Platinum Card (personal) has a bonus of 40,000 Membership Rewards points. Business Platinum also has a bonus of 40,000 Membership Rewards points.

The sign-up bonus rules are different between the two cards even though the bonus is the same:

  • You receive the bonus on Business Platinum if you have not had any Membership Rewards card, personal or business, in the previous 13 months
  • You receive the bonus on The Platinum Card if you have not had any personal Membership Rewards card (Business cards are not counted) in the previous 24 months

This means than an existing holder of Business Platinum could get The Platinum Card bonus but an existing holder of The Platinum Card could not get the Business Platinum bonus.

Differences between business and personal american express platinum cards

Travel insurance

Both cards come with comprehensive travel insurance.  The coverage with Business Platinum is stronger in some areas – you are covered up to the age of 80 (vs 70 for The Platinum Card) and there is no requirement to pay for anything on American Express to receive full coverage.

Even if you are not between 70-80 yourself, remember that you can cover family members by issuing free supplementary cards to them, up to the limits allowed by each card.

I strongly recommend you read the policy documents for each card, available via the application websites here and here, if this is important to you.

Refer a friend bonuses

Both cards allow you to earn up to 90,000 Membership Rewards points per calendar year by referring friends for American Express cards.

Business Platinum cardholders receive a higher bonus of 18,000 points per successful referral, compared to 12,000 points for holders of The Platinum Card. These numbers are often higher during regular promotions.

Conclusion

There is no obvious answer to the question of whether American Express Business Platinum is better than The Platinum Card ……

….. assuming, of course, that you have some sort of business – or are in the process of launching one – and so qualify for Business Platinum.

I have both cards, so I get the best of both worlds. I would find it difficult to choose if I had to, because when I consider the benefits which are unique to each card:

  • I value the Eurostar lounge access on my personal card, and living in London I ensure I use the £100 of Harvey Nichols credit. It is easy to use the £150 of UK dining credit each calendar year, although using the £150 of international credit requires a little more planning.
  • I have come to value the free subscription to The Times and The Sunday Times via Business Platinum. It is easy for me to use the £200 of annual Amex Travel credit. I have also ordered the odd Dell item with my free credit.

More information

Please take a look at the official American Express websites if you require additional information about any of these benefits, especially insurance.

The Amex Business Platinum website, which contains full details and the application form, is here.

The Platinum Card website for the personal card, which contains full details and the application form, is here.

Comments (46)

This article is closed to new comments. Feel free to ask your question in the HfP forums.

  • ChasP says:

    I have been able to get 2 guests into Centurion lounge with my Bus cad. Thought it was a right was I just lucky ?

  • Rob says:

    Just me then!

    I do have the £200 Etihad offer at the moment, and the Hertz one. Never, ever get a Marriott / IHG / Hilton one.

    • Roy says:

      I’m sure it depends on your recent spend patterns. I notice that if I shift spending away from an Amex card then offers on that card start to dry up after a while. I suspect it’s not just monthly spend, though, but recent spend on particular groups of MCCs that individual offers are targeting.

  • Alk123 says:

    Does anyone actually pay over £300 for a Times subscription. There’s always a sign up/retention offer to be had for this.
    Currently there’s a £1 a month for 12 month offer which then increases to £10 a month

    • Rob says:

      Since that’s less than the cost of buying the physical newspapers, and around a million people were happy to do that at the peak, I assume yes.

      A general unwillingness to pay a fair rate for good writing is behind most of the problems with the internet today – not that Rupert needs the cash, of course.

      • Jonathan says:

        I had a subscription with The Times newspapers for online only, and found their iOS app to be in dire need of a full update and overview to how it’s currently seen by the users

        For that reason, I decided not to bother with it any further

        • The Savage Squirrel says:

          Have you tried it recently? It’s not that long since it did get a big update that solved several (although not all) of its faults.

  • krys_k says:

    I don’t understand why the basic offerings of each card have so much crossover. Great if you only want a single card and get all the add ons. But think Amex missing a trick by not differentiating the two cards and therefore encouraging folks to have both cards in their wallet (btw I have both, but going to drop the business when I have used all the buy in options; I would consider keeping both if they gave me a majesty of options).

    • No Longer Entitled says:

      I suspect the market for the business card is too small to warrant such a vast differentiation. AMEX remains very much a niche player and acceptance of the card is very low across a number of industries.

  • Lady London says:

    Still don’t understand why Eurostar lounge only lets personal Plat in and not business Plat.

    Would have thought it would be the other way round if they are so miserable as not to accept both cards.

    • David says:

      Very! And there were mentions of people not being able to spend MRs on Eurostar yesterday. Don’t know if it’s temp/glitch.

      • Rob says:

        Amex had a warning message for a week or so saying that Eurostar transfers were failing, so I suspect they found it easier to pull the whole thing until fixed.

  • David says:

    Just to confirm the Biz Plat will be pro rata refund past 24 Feb 24?

    • Rob says:

      Everything we have been told by Amex is that the new rules only apply to a) personal and b) credit cards, so you’d be fine.

      • Freddy says:

        Is that pro rata refund definitely 24th Feb, I’ve seen other february dates flung around on the Internet but nothing concrete

  • Mikeact says:

    So, both cards have an annual fee of £650. I guess there is an Actuary on here, that may be able to explain why the Business card will allow the holder to have insurance up to 80, but the regular Personal card is only 70 ? Just totally ridiculous.

    • Binks says:

      🤣

    • Jay says:

      It will be based on the past and forecast claims and value from over X age. They will know that the Biz card doesn’t have a large base of more elderly folks (so lower claims at 70 – 80) so happy to leave at 80. Whereas the personal card will have an older base, larger base and probably higher claims history for over 70’s. From my FS experience they probably started at a higher age limit on personal and reduced as they compiled claims data over the years.

  • Victorinternational says:

    It is less than 24 months since I closed a membership reward card. If I open a gold card and then use the upgrade to platinum link, would I be eligible for the upgrade offer?

This article is closed to new comments. Feel free to ask your question in the HfP forums.

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