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American Express Corporate Platinum Card – Is The Annual Fee Worth It?

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The Amex Corporate Platinum Card is issued by American Express with a hefty annual fee and requires an excellent credit score to qualify. The annual fee seems justified to some Amex followers, while others think it is bizarre. It is a charge card and not a credit card which means that you cannot carry a balance. It offers a lot of travel related perks and definitely cannot be written off easily if you have frequent travel needs. Let’s review its features and perks below, for you to decide if the annual fee is worth it.

Key Features of the American Express Corporate Platinum Card

The American Express Corporate Platinum Card boasts the following features:

Annual Fee

The card has an annual fee of a whopping $450.

Sign up Bonus

Become a member and spend $5000 in the first three months to earn 25000 Membership Rewards points.

Reward Points

For every dollar spent on purchases you can earn 1x points. The reward points can be redeemed for gift cards, travel rewards and merchandise from over 500 leading brands. Booking travel through points and an American express travel agent will save you 20%.

Travel Perks

You can select and enroll an airline of your choice and receive up to $200 in credits for incidental airline fee annually. This includes charges such as checked baggage, flight change fee, in flight refreshments, phone reservation fee and others.

The American Express Corporate Platinum Card grants access to card members to over 600 airport lounges worldwide including Delta Sky Club, American Admirals Club and US Airways Club lounges. The access cost to these lounges is alone $399 annually.

It should be noted though, that access to American Airline Admirals Club is open for Platinum card members until only 22 March, 2014. This is a heart breaker for many but until then you can enjoy access as much as you want. Card members are also eligible to gain access to the Centurion Lounge which is at Las Vegas and Dallas but will open up in two more locations soon.

No Foreign Transaction Fee

The American Express Corporate Platinum Card is accepted globally and there is no transaction fee when used abroad unlike many other cards.

Penalties and Other Fee

  • A late payment or returned payment fee of up to $35 applies on the American Express Corporate Platinum Card.
  • If you do not have a balance or pay over time feature, and you fail to pay for two billing periods consecutively, the applicable fee will be $35 or2.99% whichever is greater.
  • The first three additional cards carry a fee of $175, for each additional platinum card afterwards the fee is same.
  • For the first five additional gold cards there is a fee of $45, and later for each additional gold card it is $45.
  • The American Express Corporate Platinum Card offers competitive rates when you sign up for a stay at hotels and resorts. You gain access to more than 750 finest properties worldwide. Receive perks like room upgrades and breakfast for two and other hotel related perks.
  • By purchasing a qualifying business or first class ticket for international travel, members can earn savings as much as to buy a ticket for a companion. They will only have to pay applicable tax, fee and surcharges on the same itinerary.
  • The $100 application fee is credited if you apply and can bypass the arrival line at major US airports when returning from an international tour.
  • Platinum card holders get travel assistance round the clock to assist in creating custom itineraries.
  • There are a lot of perks associated with car rental and roadside assistance like roadside repair or two to nearest garage.
  • It also offers purchase protection. This means in case an eligible purchase is lost, stolen or damaged for up to 90 days of purchase, members have a coverage limit of $10,000 per occurrence.
  • The warranty on your eligible purchases is automatically extended for a year when you use your American Express Corporate Platinum Card for the purpose.
  • You can return eligible items and get a refund using your platinum card for up to $300 per item, this excludes shipping and handling. This goes up to $1000 annually for a Card account.
  • Your corporate platinum card can be synced and you can get offers based on products you ‘like’ on Facebook.
  • You can also get exclusive travel reviews and access to events normally which wouldn’t have been possible with your corporate platinum card.
  • You manage your account and pay bills online. You can set anyone as an account manager making them eligible to view your activity and do anything you require on your behalf. This provides you with the convenience when you are extremely busy or a t a location with no internet access.
  • You can also get account alerts to manage your spending pattern or receive notifications about irregular account activity.
  • The American Express app is downloadable for iPhone, iPad and Android phone. You can locate airport lounges near you while you are on the go. You can also manage your account through your mobile.
  • Card members receive an annual summary of their expenditures categorized by the spending type, for example dining or travel.

Additional Perks

The American Express Corporate Platinum Card offers some great travel perks for business executives and in most cases justifies the annual fee. It definitely isn’t a card if you are looking to finance working capital or the sorts. It will be most beneficial for you when you have extensive travelling needs. Those who travel will know the advantages of airport lounge access and free food and wifi. Do remember that the American Express Corporate Platinum Card is a charge card which means you need to pay your balance in full each month and will incur a penalty fee if you fail to make payment. There is no pre set spending limit but it also does not mean it is unlimited. The spending limit adjusts to your credit history and spending patterns.

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