The Business Platinum Card From American Express OPEN

We've reviewed the consumer version of this card earlier and the business version is nearly identical in many aspects. The key difference is that because it is part of the Amex OPEN network, you can actually discounts from their merchant partners (a perk which other OPEN card have as well). For just to be complete, let us go over the key features of this card again (even though we might be repeating ourselves).

Like all Amex charge cards, this one is no different and the basis of this card is that you earn reward points from your spending (one point per dollar) and the points can be redeemed for a variety of things from the Membership Rewards program. Because this is the "Platinum" version, you actually get access of the Membership Rewards First. The only difference between "First" and the regular program is that there are more "high end" merchandise to redeem - Like Mikimoto pearls!

Amex Platinum Business Airline Partners - For those of you who are not familiar with MR, you can transfer points to airline and hotel partners. This is a very valuable perk for frequent flyers who are members of a few airlines. Once or twice a year, MR will also have promotions where you can get bonus miles 25% to 50% if you transfer points to certain miles partners. For example, British Airways might have a 50% bonus promotion. If you transfer 10,000 points to your BA Avios account, you will get 5,000 extra Avios points.



But these are features all Amex charge cards have. What sets the Platinum versions apart are the following extra perks.

Starwood Preferred Guest Gold Status - As a card member, you will automatically qualify for gold status at Starwood Preferred Guest program.us. To do so, you will have to call Amex to get your "code" and then call Starwood to enroll. Or if you are already enrolled, simply call them to give them the code. The gold status should renew automatically. How much is this perk worth? Well, it really depends on how often you stay at Starwood Properties and whether you already have a higher membership level.

Car Rental Memberships - Another benefit of this card is that you can get elite memberships in Hertz, National and Avis. For example, you can get a Hertz Gold membership which is worth $60 a year. You can enroll at www.americanexpress.com/premiumcarrental.

$200 Annual Airline Credit Fees - This is one of the favorite perks of this card among holders. Every year, you are given $200 to spend on airline amenities like baggage fees, food on the plane. This perk alone goes a long way to covering the annual fee. You do however have to pick an airline to use this perk. That means that for the calendar year, you have to choose one airline to use this benefit with. If you fly a few airlines, then it would be wise to choose the one that you fly most frequently or perhaps the one with the most expensive baggage fees?

Lounge Access - If you are picky about hanging out at Airport Lounges, then this benefit will definitely appeal to you. Anf in fact, it will cost most of the annual fee. Here's why. Firstly, you will be given a Priority Pass memberships. But those of you who are savvy might ask which level of membership because Priority Club has a few tiers and levels. Well, after checking with American Express, I can say for certain that you get the highest level. The highest level has a $349 annual fee but free visits by yourself and a $27 fee for guest. But aside from Priority Club ounges, you can also get access to US Airways, Delta SkyClub and American Airlines' Admiral Club Lounge. The Delta Skyclub membership fees ranges from $300 to $450 (depending on status). The annual membership for AA's Admiral Club Lounge ranges from $350 to $500. US Airways Lounge membership ranges from $225 to $325 a year. Hence, the lounge access alone covers the entire annual fee of the card (and more).

Fine Hotels and Resorts - If the lounge access perk is one that offers the most bang for the buck, then the Fine Hotel and Resorts comes in a close second (or perhaps first depending on how often you use this feature). Amex has partnered with "better" hotels in most regions in the US (and abroad as well). If you use your card to book these hotels, you will receive a free amenity and a room upgrade when available. For example, I stayed at the Fairmont Miramar at Santa Monica and got complimentary breakfast, a room upgrade and $100 in credit (which I used for a massage!). A couple of bookings like that and you will earn back the annual fee.

No Foreign Transaction Fee - For folks who travel abroad, it is good to know you will not pay the extra 3% (FX transaction fee) that typically comes with most cards.

Complimentary Global Entry membership - If you are an international jetsetter, then you might want to consider getting the Global Entry. Global Entry is US Government program that is granted to pre-approved travelers so that they may bypass arrival lines. The membership fee is $100 and is valid for 5 years. Amex Plat will actually foot the bill for this.

Travel Privileges Platinum Travel Service - As a card holder, you can book all your travels with Platinum Travel Service. And you should use them because if you were to book a Fine Hotel and Resorts partner or a business class ticket, then you have to book through them to get the perks and benefits.

International Airline Program - The International Airline Program allows you to get a complimentary business or first class ticket when you purchase a full fair business class or first class ticket from Travel Platinum Service (using your platinum card off course). Participating airlines include Aer Lingus, AeroMexico, Air France, Air NewZealand, Aitalia, Asiana Airlines, Austrian, Cathay Pacific, China Airlines, Delta Airlines, Emirates, Etihad Airways, Japan Airlines, Jet Airways, LAN Airlines, Luthansa, Mexicana, SAS, South African Airways, SWISS and Virgin.

Cruise Privileges Program - Aside from airline tickets and hotel rooms, you can also book cruises through the Platinum Travel Service. The advantage is that if you book on of their cruise partners, you will get either a $300 shipboard credit or a two level stateroom upgrade. You will also receive special amenities from each cruise. Cruise Partners include Crystal Cruises, Cunard Line, Holland America Line, Princess Cruises, Regent Seven Seas Cruises, Silversea Cruises, The Yachts of SeaBourne, and Winstar Cruises.

Platinum Destination Vacation - American Express has also partnered up with select group of exotic vacation partners that will allow you to earn points and use points for these vacations. For example include Abercombie & Kent, American Express Vacation®, AutoVenture, Brendan Worldwide Vacations, Classic Vacations, Insight Vacations, Mountain Park Travel Canada, Orient-Express Hotels, Trains and Cruises, PerryGolf, PrimeSport, Ski.com, Tauck World Discovery.

The Limousine Program - Amex has partnered up with Carey, one of the largest limousine service companies in the US. When you use this card to book a limo service, Amex will use Carey and you will have the privilege of earning triple points!

Platinum Villas - This perk is quite similar to Fine Hotels and Resorts. It is just a higher end version of the perk. Amex has teamed up with Abercombie & Kent, Beautiful Places, Four Seasons Residence Club, Lacure, The Mansion at MGM Grand and Villas of Distinction to offer luxurious villas. I'm pretty sure they come with luxury prices as well!

Private Yacht Program - Amex has partnered with Fraser Yacht and International Yacht Collection to offer card members customized Yacht trips to various destinations worldwide!

Private Jet Service Program - Amex actually markets this service for private jet programs. Their partners include Atlantic Aviation Flight Services, Bombardier Flexjet, Delta AirElite Business Jets, Le Bas International, Sentient Jet Membership. I do not think that you get any discounts with just because you are a card holder. The details are not really clear on their site and since I have not used this service, I cannot get into any greater details.

Platinum Concierge - Amex was perhaps the first card to offer the concierge service. Today, many other cards offer this perk so it is no longer an exclusive offering. Having used this a few times, I still find it pretty useful. For example, I made reservations for this years valentine's day!

Platinum Shopping Partners - Amex has partnered by Neiman Marcus, Sony and Bergdorf Goodman to offer card holders certain privileges. For example, Platinum Card members can enroll their card in Neiman Marcus InCircle Program. You can then earn both InCircle Points and Membership Reward points when you shop at Neiman Marcus. Once you have accumulated 10,000 points, you can exchange them for a $100 InCircle gift card. Being enrolled in the InCircle program also allows you to earn InCircle points at Bergdorf Goodman as well. As for Sony, being a platinum card member allows you to enjoy VIP status with Sony's program.

Premium Seats Program - Platinum card members can also get access to tickets before the general public for events in L.A. and New York. Examples of venues include Madison Square Garden, Radio City Music Hall. Premium Access - Card members can also get early access and preferred seating (before the general public) to hot events like concerts etc.

Who Should Get This Card - With a $450 annual fee, most folks would think twice about getting this card. For for the right person, it will more than pay for itself. This card will appeal to the business who travels a lot (examples would be national salespeople, commercial real estate brokers, consultants) and would appreciate the conveniences of airport lounges. If you are the sort that would prefer the privacy of airport lounges (rather than hanging out at the departure gates) and do use them often, then using this feature alone will pay for itself.

If you travel a lot, you will also most likely use your $200 airline credit pretty quickly. The Gold membership for Hertz is also worth something (for those who rent cars a lot).

As you can see from the review above, there are many features that this card offers. But if you use the airport lounge and airline credits alone, you will easily cover the annual fee. The design of this card is also very slight (I know since I have the "personal version" and the customer service is great (from my experience). If you are in the entertainment industry, having the concierge service and being able to get access to tickets for shows before the public is another very nice benefit to have.

At the end of the day, you will have to judge for yourself if this is the right card for you. If it is, then go for it. My money is that you will be very happy with this decision.