American Express is offering a Point Hacks exclusive 150,000 Membership Rewards points plus an $875 Credit to help offset half of the first year annual fee for new Card Members of the American Express Platinum Business Charge Card who apply by 2 November 2020 and spend $10,000 within the first 3 months from approval.
The card is aimed at business spenders who are looking for high points earn rates on spend, along with Amex Platinum service and a host of business and travel-related benefits.
The sign-up bonus plus the $875 Credit will help offset half of the cost of the annual fee in the first year, so you could use the initial year to test whether you are getting real value from the card that can be earned in subsequent years—or that’s the theory, at least.
It is worth knowing that Membership Rewards Ascent Premium points are transferable to 10 key frequent flyer programs, including Qantas Frequent Flyer, KrisFlyer, Asia Miles, Etihad Guest and more—on a 2:1 basis. This means that the current 150,000 Membership Rewards bonus points is equivalent to 75,000 points when transferred to the aforementioned programs.
How you could use the bonus points from this card
All redemption figures above exclude any accompanying taxes, fees and charges. Points redemption price data is provided by a third-party. For an exact total redemption cost, please consult with the airline directly.
|Card||American Express Business Platinum Charge Card|
|Loyalty Program||American Express Membership Rewards|
|Points earned from spend||Earn 2.25 points per $1 spent on all purchases, except those in the 1 point category
Earn 1 point per $1 spent with government bodies
|Travel Benefits||Global and domestic lounge access, Platinum Business Concierge service|
|Included Insurance||Travel insurances, purchase protection, monthly business expense and car rental damage waiver (PDS)|
|Overseas transaction fee||3% of the converted amount|
|Minimum income requirement||Annual business revenue of $75,000 or more|
|Annual Fee||$1,750 p.a.|
Effective Frequent Flyer Program Point Earn Rates
|Frequent Flyer Program||All spend except on government bodies|
|Qantas Points||1.125 points / $|
|Singapore Airlines KrisFlyer Miles||1.125 miles / $|
|Cathay Pacific Asia Miles||1.125 miles / $|
Key eligibility requirements for the American Express Business Platinum Charge Card
- Have a personal gross (pre-tax) annual income of $75,000 or more
- Operate a trading ABN or ACN
There are no requirements for the self-employed to have been trading for 18 months or 12 months if they hold another American Express card when considering the Platinum Business Charge Card. Therefore, this card could be an alternative to the personal Platinum Charge card.
Platinum Business is a charge card
This is a charge card, which means that the balance of the card must be paid for in full each month, as opposed to a credit card, where you can carry your balance over to the next month.
American Express offer some more detailed information regarding the differences between a charge and credit card here.
Benefits of the Business Platinum Charge Card
The benefits of the Business Platinum Charge card include (take a deep breath):
- Earn Membership Rewards points, including the ability to transfer to Qantas Points
- 99 additional card members free of charge
- 55 days cash flow and Dedicated Account Management
- Flexible Payment Option
- Global and domestic lounge access: American Express and Priority Pass
- Benefits when utilising travel booking services when using American Express Travel
- Travel insurances (including points redemption bookings) and purchase protection, monthly business expense, car rental damage waiver and breakdown cover (read full PDS here)
- Complimentary annual digital multi-service subscription to the Australian Financial Review
- Platinum’s By invitation only program, which gives access to events and experiences that are not open to the general public
With the American Express Platinum Business Charge Card, you’ll be earning Membership Rewards Ascent Premium points.
In short, Membership Rewards partners with the major frequent flyer programs in the region as a flexible points program, which allows on-demand transfers of your points over to the frequent flyer program at your request.
On top of the standard benefits of Membership Rewards points, Platinum Business Charge Card account holders are also able to transfer their points to Qantas Frequent Flyer, one of only a couple of cards in the market that can do this since it earns Membership Rewards Ascent Premium points (rather than earn directly into Qantas Points).
The Platinum Business Charge Card earn rates are as follows:
- Earn 2.25 points per $1 spent on all purchases, except those in the 1 point category
- Earn 1 point per $1 spent with government bodies
The ability to earn 2.25 points per $1 on utility transactions including gas, water, electricity providers and insurances is a big plus for the card. You can also earn 1 point per $1 on all government spend such as at the Australian Taxation Office, Australia Post, federal/state and local government bodies.
There are several lounge options you can take advantage of as a Platinum Business Charge Card Member.
Generally, you can bring two guests to the American Express lounges, as well as children travelling with you, and with the Platinum Charge, you may be able to access the Sydney lounge, the Melbourne Lounge and others globally on an unlimited basis.
You’ll receive a Priority Pass lounge membership for you and an additional card member, which now includes eateries at Sydney, Melbourne and Brisbane Airports. Guests are charged US$27 each.
Another lounge network that Platinum Charge Card Members gain access to is Plaza Premium, which operates a small number of about 50 high-quality lounges worldwide, including a great lounge in Brisbane’s International Terminal. You can read more in our Plaza Premium guide.
Additionally, when travelling with Delta, a Platinum Charge Card Member can access Delta SkyClub lounges.
American Express Travel is available to all Amex Card Members, but Platinum Business Charge Card Members receive additional value.
For Business Class fares, Amex Travel has competitive pricing and has access to a wide range of discounts that may not be publicly available.
This is primarily across their partner airlines: British Airways, Delta, Emirates, Etihad, Singapore Airlines and South African Airways.
Beyond airfare, there are also a number of partner independent hotel chains which offer some exclusive benefits when booking through American Express Travel.
There’s then the major hotel program benefit – American Express Fine Hotels and Resorts.
American Express Fine Hotels & Resorts is a unique benefit for Card Members, which offers more hotel benefits when booked through American Express.
With many Fine Hotels & Resorts bookings you’ll also continue to receive points and status with the parent hotel loyalty program too.
The benefits may include:
- An on property benefit, often $100 USD in credit per stay
- 12pm check in
- Room upgrade if available
- Free breakfast
- Guaranteed 4pm late checkout
- Free wifi
Business Platinum Card Members also have access to The Hotel Collection, which is a smaller set of high-end (as opposed to ultra high-end) properties, where they can get a free room upgrade and US$100 hotel credit.
The Platinum Business Charge Card comes with a range of hotel and other elite status benefits. We’ve covered off exactly what you’ll receive in a dedicated guide, but the key benefits are Marriott Bonvoy Gold Elite, Hilton Honors Gold, and Radisson Rewards Gold Elite status.
Also included with the Platinum Charge is a complimentary membership to Accor Plus, which has an annual fee of $399 if bought separately.
This membership offers benefits such as a free night at a hotel in the Asia-Pacific each year you hold the card and the potential for large discounts at restaurants within hotels, even when you are not staying at one.
Flexible Payment Option
Business owners can free up their cash flow with an instant line of credit on their Charge Card. Instead of paying off the balance in full each statement period, it can be paid off over time.
How it works:
- The Card Member will receive a statement at the end of each statement period summarising their spend
- They can choose to pay the Closing Balance, the minimum amount due, or any amount in between (up to their Flexible Payment Option Limit).
- They can carry over any unpaid amount to their next month’s balance. Any amount not paid in full will incur interest at a rate of 19.99% p.a. until repaid.
It is difficult to provide too much commentary on the card’s insurance coverage given that each person’s insurance needs are different, so check out the full Platinum Business Charge Card Insurance PDS and assess whether it will cover your needs.
Depending upon the type of cover, the insurance is activated by either just being a Platinum Business Charge Card Member, or by making a purchase of an eligible item.
The insurances included are:
- Monthly Business Expense Insurance, where the Card Member will receive protection in the event of they are temporarily unable to run their business, to a maximum of $12,000
- Travel insurance, including for points redemption bookings from using points earned by your Platinum Business Charge Card
- Purchase protection
- Roadside assistance insurance
- Up to $125,000 of Loss Damage Waiver insurance for rental cars
This guide references some of the benefits of insurance policies provided with this card. You should read the PDS and obtain independent professional advice before obtaining this product.
Complimentary Digital Multi-Device Subscription to the Australian Financial Review
Tailored to Platinum Business Charge Card Members is a free annual digital subscription to The Australian Financial Review.
Unparalleled mobile wallet integration
American Express cards support Apple Pay, Google Pay and Samsung Pay, meaning you can use this card on your smartphone for easier payments.
With this feature set up, it means you could still use your NFC-enabled phone to make purchases with your American Express account, even if your physical card is lost or stolen and pending replacement.
Eligibility criteria for bonus points for existing American Express Card Members
American Express are quite specific about whether existing Card Members will be eligible for bonus points if they apply for a card, are approved, and meet the minimum spend criteria.
Card Members who currently hold or who have previously held any Card product issued by American Express Australia Limited in the preceding 18 month period are ineligible for this offer.
American Express don’t allow existing Card Members, even for different types of American Express cards (e.g. Charge, Credit or Business) to be eligible for bonus points offers for cards in a different family.
Summing up: American Express Platinum Business Charge Card
The expectation of most people is that this card should tick all the boxes since it combines plenty of Business-related features along with some very useful travel benefits.
If you have a lot of business spend to put into the card and are likely to utilise the softer benefits such as adding up to 99 additional card members free of charge, 55 days cash flow or insurance protections, then this card may be for you.