The Business Platinum Card® from American Express has just introduced an exceptional offer: earn 150,000 Membership Rewards points after spending $20,000 within the first three months of card membership.

This is the largest public welcome offer ever available for this card, which is ideal for business owners with significant regular expenses, especially those who travel frequently. But is the sign-up bonus worth the high annual fee and the substantial initial spending requirements? Here’s a comprehensive overview of the Business Platinum Card and how this offer compares to other business credit cards available today.

How much are 150,000 Membership Rewards Points worth?

American Express Membership Rewards points at 2.0 cents per point. With this valuation, the new welcome offer of 150,000 points can be worth $3,000 when redeemed with high-value transfer partners.

If you meet the spending requirements exclusively in 1X categories, you’ll earn a minimum of 170,000 points, resulting in an 8.5 percent return on your spending. This boosts the total value of the offer and the card’s regular points to approximately $3,400.

Who does this offer make sense for?

This offer is ideal for business owners with substantial spending needs, as it features one of the highest spending requirements for a welcome bonus currently available. Despite the $695 annual fee, the Business Platinum Card offers numerous benefits that can help offset this cost, provided your business can utilize them effectively.

For instance, if you fully use the $200 annual air incidental credit, the $189 annual CLEAR membership credit, the monthly $10 wireless credits (totaling $120 annually), and the semi-annual Dell credit (worth $400 annually), you’ve already accumulated $909 in credits against the annual fee. Additional credits for services like Indeed and Adobe, valued at $360 and $150 respectively, can further enhance the card’s value. Benefits such as lounge access and travel protections also provide significant value based on your travel needs.

If you travel frequently, the offer becomes even more attractive. You can redeem points for all or part of an eligible flight booked through American Express Travel and receive 35 percent of the points back (up to 1,000,000 Membership Rewards points per year) on qualifying first and business-class tickets and any fare class with a selected qualifying airline.

How does this card – and the new welcome offer – compare to the competition?

In comparison, the American Express® Business Gold Card offers a welcome bonus of 70,000 Membership Rewards points after spending $10,000 in the first three months, valued at $1,400. The Business Gold also provides substantial benefits, including earning 4X Membership Rewards points on your top two spending categories each month from the following list:

  • Airfare purchased directly from an airline
  • Advertising (purchased in the U.S. for promoting your business online, on TV, or on the radio)
  • U.S. gas stations
  • U.S. restaurants
  • U.S. shipping costs
  • U.S. computer software, hardware, and cloud data purchases from select providers

If you focus your spending in these categories to meet the welcome offer, you could accumulate up to 110,000 points, translating to an 11 percent return on your spending. If your business frequently spends in these categories, the Business Gold might offer a higher ongoing return compared to the Business Platinum.

Another American Express business card to consider is the Blue Business® Plus from American Express. This card, which has no annual fee, offers a welcome bonus of 15,000 Membership Rewards points after spending $3,000 in the first three months, worth $300. It earns a flat 2X points on all purchases, resulting in a total of 21,000 points after meeting the sign-up bonus, representing a 7 percent return on your spending.

Given these comparisons, the Business Platinum Card offers significantly greater value, especially if you can justify its annual fee.

How does this offer compare to past Business Platinum offers?

The current public offer for this card has increased from 120,000 points after spending $15,000 in the first three months. Earning over 100,000 points as a welcome bonus on the Business Platinum Card is an excellent value, though it requires a significant amount of spending.

It’s also worth noting that while this is the highest public offer we’ve seen for this card, you might be eligible for even better targeted offers. These offers, which can range from 130,000 points to as high as 250,000 points, often come with lower spending requirements and sometimes include introductory APR offers.

Targeted offers can be received via email or mail, and you might also find pre-qualified offers on the Amex website. These offers are personalized based on your credit history and credit score. To increase your chances of receiving such offers, consider opting in to Amex’s email and direct mail promotions. Additionally, you can use tools like CardMatch to compare potential offers available to you.

In Conclusion

The elevated welcome offer of 150,000 Membership Rewards points on the American Express Business Platinum Card presents substantial value for business owners with high spending needs and frequent travelers.

Before applying, verify if this is the highest offer available to you. Although the card comes with a high annual fee, its numerous benefits can offset this cost if you utilize its features effectively.

Evaluate whether the spending requirements fit your current financial plans and if the ongoing perks and rewards match your typical spending habits. No welcome offer is worth committing to if it strains your budget or results in more debt than you can manage. If this offer doesn’t align with your business needs or if other cards provide better long-term value, you might consider exploring other options for greater overall benefit.