Is the American Express Business Platinum worth the annual fee?

Sep 17, 2019

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This story has been paid for by American Express, but the opinions are those of the author and TPG. This is one way TPG continues to provide our readers with free news and advice about travel.

Official application link: The Business Platinum Card from American Express UK — Earn 40,000 bonus Membership Rewards® points if you are approved and spend £6,000 in the first three months of Cardmembership.

There are no two ways about it: The annual fee for the Business Platinum Card from American Express UK is steep. At £595 each year, it’s payable in both the first and subsequent years. That’s a fairly big outlay for this product, though the fee may be tax-deductible for a business.

You may know that there’s a long list of features, but are the features worth the annual fee?

Let’s walk through some of our favourite features as avid travellers and look at how much they’re worth.

Welcome bonus

TPG UK valuation: £600

There is a big welcome bonus of 40,000 Membership Rewards after spending £6,000 in the first three months of cardmembership. TPG UK values Membership Rewards points at 1.5p each, so those 40,000 points are worth £600. You can read our full guide on how to use these points here.

Travel insurances and protections

TPG UK valuation: £900

There is a long list of travel protections that come with this card, including:

  • Travel Accident/Business Travel Accident Cover
  • Travel Inconvenience Cover
  • Medical Expenses and Repatriation Cover
  • Baggage, Money and Documentation Cover
  • Trip Cancellation Cover
  • Personal Liability
  • Business Trip Completion Cover
  • Retail Insurance – Purchase & Refund Protection
  • Online Fraud Protection

American Express has compared this value a worldwide annual travel insurance policy offered by a leading independent insurance provider for a family of four and has valued this at £900.

We would not ever recommend jumping on a plane without a comprehensive travel insurance policy in place to protect you if something goes wrong.

The Times subscription

TPG UK valuation: £312

You’ll receive a complimentary annual digital subscription to both The Times and The Sunday Times, which is worth £312.

American Express Global Lounge Collection  membership

TPG UK valuation: £325

This is one of our favourite benefits of the card and something we use all the time here at TPG UK. If you don’t have elite status and/or are travelling in economy, most major airports in the UK, Europe and beyond will have lounges belonging to this programme you can enjoy before your flight — even if you’re on a £10 Ryanair ticket. There’s more than 1,200 lounges in more than 130 countries to choose from for you and your Platinum supplementary cardmember to enjoy.

An equivalent paid Prestige Priority Pass membership, which generally covers the same lounges, will set you back £339.

If you travel regularly on lots of different airlines, this is a very valuable benefit.

There’s also the additional value of American Express Centurion Lounge access as well as Eurostar and Delta Air Lines lounge access when completing eligible travel, which have not been included in these calculations.

One Fine Stay

TPG UK valuation: £150+

Let’s say you use the One Fine Stay credit only once a year — you’re still saving £150. This credit is valid for each and every stay, so if you use it more than once you’ll save even more.

Elite Hotel Status

TPG UK valuation: £400+

There’s a whopping five elite hotel statuses that come with this card:

  • Hilton Honors Elite Gold status
  • Marriott Bonvoy Gold status
  • Melia Rewards Gold status
  • Radisson Rewards Gold status
  • Shangri-La Golden Circle Jade status

Most Cardmembers are unlikely to regularly stay in hotels from all five of the different programmes, so it would be unfair to suggest you’ll receive five times the value from five statuses.

My favourites are the Hilton Honors Gold status and the Marriott Bonvoy Gold status. I hold both and have enjoyed the benefits of each, especially the Hilton status, which grants you benefits like free breakfast.

Bottom line

We haven’t valued every single benefit of the card as we realise you may not use (or value) every single one. But just the features above we value at a total of more than £2,500 which we think is well worth the £595 annual fee. Excluding the welcome bonus you’ll also enjoy these features and values each and every year.

You can read our full review of the Business Platinum Card from American Express UK listing even more benefits here and apply for the card here.

Featured image by Josh Gribben / The Points Guy

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.