Platinum Business Credit Card Review

Summary - The The Platinum Business Credit Card is designed for the small business owner who want a no annual fee business credit card with a generous line of credit, and yet wants to earn reward points. This credit card gives the small business owner the following benefits :

Up to $50,000 in credit lines

No annual fee

0% apr on purchases for 12 months

Earn Membership Rewards Options points

Let's explore this card in greater detail.

Reward Formula - The Platinum Business Credit Card allows you to earn one reward point for every dollar you spend on the card. You can earn unlimited points which do not expire. The reward program is based on the Membership Rewards Options program.

Open Savings - Like every American Express business card, you can save money when you use the card with OPENSavings merchants and get savings. These merchants include AT&T, Expensable, Fedex, Hertz, subscription to USA Today and 1800-Flowers.com.

Fees and APR - This card has no annual fee. There is also no additional card fee for up to two cards. You get an introductory 0% apr on purchases for 12 months. If you choose to transfer a balance, you will be charged a low apr of 4.99% for the life of the transfer. The apr ranges from prime rate plus 2.99%, 4.99%, 6.99% or 9.99%. The average daily balance method (including new purchases) is used to calculate monthly balances. Unlike most credit cards, you get 25 days of grace period if you no balance outstanding (versus 20 days of grace period for most other credit cards).

Credit Lines - Cardholders are given a credit line of up to $50,000.

Other Benefits - The American Express Platinum Business Card also gives cardholders the following benefits.

1. Purchase Protection Plan - under this plan, you can return any purchase you make if it is accidentally damaged within 90 days.

2. Travel Insurance - American Express provides accidental travel insurance for all cardholders.

3. Online Management - You can manage your account with Summary of Accounts and track charges with Expense Management Reports.

4. Online Business Community - Allows you to chat, pose questions, get insights from other small business owners, and attract new business.

5. Seek Business Advice - You can ask an expert a question, use an online tool, and read articles by other business owners.

Verdict - The Platinum Business Credit Card should be considered by the small business owner who

Is looking for a no annual fee reward card

Needs the 12 months 0% apr on purchases for start-up purchases

Needs a credit line

Aside from the reward program and the excellent 0% apr on purchases that you get for 12 months, you will also get the usual excellent customer service from American Express.

Positives

Earn unlimited reward points

Reward points do not expire

No annual fee

0% apr on purchases for 12 months

No additional card for up to 2 cards.

25 days of grace period

Platinum Business Credit Card
Reward Benefits
Point Accumulation	Earn 1 point for every dollar you spend Earn unlimited points which do not expire
Cost/Fees/Interest rates
Introductory rate	0% apr on purchases for 12 months 4.99% on balance transfer for life
Annual Fee	No annual fee
Purchase APR	Prime Rate plus 2.99%, 4.99%, 6.99% or 9.99%
Cash Advance APR	Prime Rate plus 14.99%
Penalty/Default Rate APR	Prime Rate plus 12.99% or 21.99%
Min Finance Charge	$0.50
Grace Period	25 days
Balance Calculation Method	Average Daily Balance (including new purchases)
Balance Transfer Fee	No balance transfer fee during introductory offer
Cash Advance fee	3%, min $5.00
Over-the-credit-limit fee	$35.00
Late Payment fee	$15.00 - less than $100 $29.00 - between $100.00 to $1000.00 $35.00 - greater than $1000.00

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