American Express Business Platinum Canada Review

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The American Express Business Platinum card has the largest signup bonus out there since you get 75,000 American Express Membership Rewards points (with a referral) when you spend $7,000 in the first three months. I’ll go into more detail below, but those 75,000 points are incredibly valuable since you can transfer to them to various partners such as Aeroplan and SPG/Marriott.

Although this is a business card, American Express has approved individual consumers for the card so don’t let the “business” aspect prevent you from applying for the card. If you’re looking to earn points fast, the American Express Business Platinum card is the first card you should apply for since you can eventually earn enough points to redeem a business class around-the-world trip via the Amex train. Points aside, the additional benefits included with the card are incredible which is why my American Express Business Platinum Canada review is positive. Keep reading for the full details.

American Express Business Platinum Canada Review

American Express business platinum benefits

  • 75,000 Membership Rewards points signup bonus (with a referral)
  • Earn 1.25 Membership Rewards points for every $1 spent
  • Unlimited airport lounge access with Priority Pass
  • Emergency Medical, Flight Delay / Cancellation, Lost / Delayed Luggage Insurance
  • 55 interest-free days
  • Employee Card Misuse Protection
  • Disability Plan for Small Business
  • $499 annual fee

Let’s take a look at this from a points perspective first. As mentioned, the 75,000 Membership Rewards points signup bonus when using a referral link is the most you’ll get with any credit card, but you’ll need to charge $7,000 in the first 3 months of card membership to get those points. The normal offer is 40,000 points with a $5,000 spend in the first 3 months, so it’s quite the difference.

Assuming you can make that spend, you’ll instantly have an equivalent of $750 in American Express Membership Rewards points which offsets the $499 fee. Admittedly, you’re only ahead by $251, but that’s where the transfer partners come into play.

You could transfer your points to Aeroplan at a 1:1 ratio. 75,000 Aeroplan points are enough for three return flights to Los Angeles from Toronto which has a value of $1,500 – $1,800.

Another option with your MR points is to transfer them to Marriott at a 1,000:1,200 ratio. That means the 60,000 Membership Rewards points signup bonus is equal to 72,000 Marriott Rewards points. When you factor in the minimum spend required for the bonus, you’d have just over 100,000 Marriott points. Those points are easily worth $1,000+ in hotel stays.

The 1.25% Membership Rewards points earned per $1 spent is similar to other business cards. You also get unlimited airport lounge access which will appeal to frequent travellers.

The business benefits

So far in my American Express Business Platinum Canada review, I’ve focused on the points, but the decision to get this card for many people will really come down to the business benefits.

Since this is a charge card, there’s no limit. In addition, you get up to 55 interest-free days which will help you manage your cash flow while you focus on your business. That being said, if you’re late with payments, you’re looking at an interest rate of 30%

Employee card misuse protection will ensure that you’re not on the hook for any eligible unauthorized transactions when you terminate any supplementary cardholders and cancel their cards within 2 business days. Coverage is up to $100,000 so that should give you some peace of mind.

The disability plan for small business is a nice bonus since it’ll give you up to $10,000 in benefits if you become permanently or totally disabled as a direct result of an accidental injury. This amount increases to $25,000 after having the card for two years and $50,000 after six years of card membership. Note that you should still have your own disability insurance policy as this amount is practically pennies compared to what your long-term disability expenses may be.

How does it compare to the American Express Platinum benefits?

The benefits of the American Express Platinum and the American Express Business Platinum Canada are similar, but there a few subtle differences. The major difference is the business benefits that come with the business card.

The personal platinum card comes with an annual travel credit of $200, but it also has a higher annual fee of $699. The business platinum card comes with a 75,000 sign up bonus when using a referral as opposed to 60,000 with the personal platinum. To get the business bonus, you do need to spend $7,000 in the first three months compared to $5,000 with the personal platinum.

The American Express Business Platinum Canada also has fewer hotel status upgrades compared to the American Express Platinum card.

If you want to learn more about the American Express Platinum card, read my review now. Alternatively, check out my list of the best travel credit cards in Canada with huge signup bonuses.

Final word

My American Express Business Platinum Canada review is positive. If you’re looking to earn points fast, then there’s no other credit card on the market that gives you such a generous sign up bonus. 75,000 points is an insane amount! Yes, you need to spend $7,000 in the first three months to get that bonus, the amount of points you get is worth it.

Apply now for the Amex Business Platinum Card
By |2019-01-13T12:23:51+00:00September 13th, 2018|Credit cards, Personal Finance, Travel|

8 Comments

  1. Eric Lange April 19, 2018 at 8:37 pm - Reply

    i hit a record in the month of month with 354,000 worth of spending on my american corporate platinum card, the 442,500 points will be used to fly staff for trade and consumer shows where we supervise the set up and tear down, and the movement of the freight into the facility. good example i flew to edmonton on Tuesday using 25,000 points round trip and some $87 for hst tax, i then finished the job in less than 4 hours, was able to go back to the airport, call aeroplan and for $100 change my flight from wednesday back to the tuesday, as i made the 5:45 flight from edmonton to toronto, now saved my having to book a hotel, and that would have cost at least $129 for a reasonable budget 3 star hotel,.
    i also used the priory club pass to get entre into the lounge in the morning, having breakfast, took a sandwich for my lunch, and a apple and orange for snacks during the day. Then used the same priory club membership for the first class lounge in Edmonton to have a great dinner, and a free beer before boarding my flight back to Toronto, my food expense for the day was $0 for the entire day…. My total expense was $87 for the hst on the free ticket, , car rental $61, gas was $21, then the change fee of $100, so for approx. $260 of total expense i flew to Edmonton, got the job done, that will provide us with approx $5,000 worth of revenue over the next 9 months, as we unloaded an important storage account into our warehouse that is normally not manned until we get a request for someone needed services in that facility, and i just didn’t trust my local guy to take care of it properly, so hence my quick trip.. Great decision to get it done.. thanks American Express !! i wouldn’t have done the job if i had to pay for an airline ticket and other normal expenses for that trip..
    Eric

  2. […] Membership Rewards points by calling customer service. For more details about this card, read my American Express Business Platinum card review […]

  3. Patrick M Sullivan September 24, 2018 at 12:03 am - Reply

    Can you claim the yearly membership fee as a business expense?

    • Barry Choi September 24, 2018 at 7:48 am - Reply

      Hi Patrick,

      Assuming you use this card for business expenses, then yes. That being said, if you use the card for 80% business and 20% personal, you can only claim 80% of the fee as a business expense.

  4. Chris November 24, 2018 at 6:16 am - Reply

    This review is inaccurate. The Amex Business Platinum benefits are significantly different than the Amex Platinum. There’s no $200 flight credit with the Business card and no membership in Hilton Gold, among other things.

    • Barry Choi November 24, 2018 at 6:52 am - Reply

      Chris,

      Thanks for catching that, I’ve update the article

  5. Viv January 13, 2019 at 12:07 pm - Reply

    “If you’re looking to earn points fast, it likely makes more sense to apply for the American Express Platinum card”.

    Can you explain why this statement is true, seeing as the introductory bonus for the business card is higher than that of the Amex Platinum and the earn rate for both of them are the same (1.25 per $). Am I missing something here.

    BTW, I already have the Amex Platinum but am looking at ways to boost my points quickly.

    • Barry Choi January 13, 2019 at 12:11 pm - Reply

      Hey Viv,

      That’s a line I put in BEFORE they changed the sign up bonus so I need to remove that.

      If you want to earn Amex MR points and you already have the Platinum, then get the business platinum card. If you already have both, there’s just the Gold cards and the Cobalt card left.

      What type of points are you trying to earn quickly? Amex MR or do you want to convert to something else?

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