American Express on Thursday (Oct. 14) debuted the American Express Business Platinum Card, saying the new offering “delivers new benefits in top business spending categories, differentiated services, travel perks, and the powerful backing of American Express” to U.S. customers.
The American Express Business Platinum Card also gives members access to more than $1,400 in value every year for an annual fee of $695 starting in mid-January 2022.
“As customers’ needs evolve, American Express continues to add new benefits and features to its Cards to meet those changing needs,” the company announcement says.
“B2B spending on the Card has been growing steadily, and it has been particularly resilient during the pandemic as Card Members invest in areas like technology, recruitment, and software to grow their businesses,” according to the announcement. “Now, the Card is providing powerful business rewards, plus the travel benefits Card Members know and love, to help fuel their continued success.”
Business Platinum Card members get more rewards points for wireless, technology, software and recruitment and can unlock more than $1,000 every year in statement credits, through 1.5x Membership Rewards points on purchases for up to $2 million per calendar year for electronics goods, retailers, software, and cloud service providers; construction materials and hardware supplies; shipping providers; purchases over $5,000. There are also credits for Dell, Indeed and Adobe purchases.
American Express also added travel benefits for U.S. Business Platinum Card Members, including an annual $179 statement credit for a CLEAR membership; free access to the American Express Global Lounge Collection, a 20% discount on Wheels Up Connect and a 40% discount on Wheels Up Core memberships and membership in the Global Dining Access program by Resy.
In September, American Express launched a program with virtual card FinTech Extend to let its business customers create their own virtual cards. The initiative allows American Express Business Card members to enroll and create virtual cards, also called tokens, using Extend’s app or desktop login.
The American Express Global Business Spend Indicator says almost 40 percent of U.S. businesses expect to expand their use of virtual cards in the next year.