Exploring Credit Card Benefits for Businesses

Keeping track of all the credit card perks can be a challenge, especially when you’re busy managing a business. Honestly, I recently overlooked an important benefit on one of my cards, which led to a bit of frustration. I’ve been with American Express for three decades, always carrying at least one of their cards. The American Express Business Platinum Card® has been part of my wallet for almost ten years now.

Lately, my balance has gone up, and while I have points, figuring out how to redeem them has become a bit tricky. One downside of the Membership Rewards program is that the main domestic airlines and hotel programs—like Delta Air Lines, Hilton Honors, and Marriott Bonvoy—aren’t necessarily the best options out there.

There are indeed better alternatives available. For instance, Air France-KLM Flying Blue and Air Canada Aeroplan are not exclusive partners of Membership Rewards. So, using another transferable currency, like Built Rewards, could give you more value, especially since they often provide transfer bonuses that are more appealing than those from AmEx.

Recently, I discussed Membership Rewards with fellow business travelers, posing the question: “What’s the best way to maximize the value of Membership Rewards points right now?” The answer? It’s all about finding that “bonus.”

Rediscovering a Forgotten Perk

Amex has some unique benefits for holders of the Business Platinum Card. While it may not be as beneficial as it once was, it still packs a punch for business owners looking for a bit of flexibility.

If you book through American Express Travel and pay with Membership Rewards points (on certain participating airlines), you can receive a 35% bonus. You can redeem up to 1,000,000 points against that reservation each year.

However, recent changes have somewhat limited this benefit. Now, it’s only accessible for tickets issued through one airline per year, which can complicate things. Plus, the list of airlines is shorter than it used to be:

• Alaska Airlines
• American Airlines
• Delta Airlines
• Hawaiian Airlines
• JetBlue
• Southwest Airlines
• Spirit Airlines
• United Airlines

You can only select one airline in January each year, so you’ll want to make that decision thoughtfully. On the upside, this benefit applies to all tickets from those airlines, including codeshare flights. For instance, you can use United Airlines for a flight that’s actually operated by another airline.

Is It Really Worth It?

With so many options available, you might actually find better ways to redeem your points. When booking through Amex Travel, each point has a fixed value of one cent. The 35% bonus raises the overall value, but it’s often possible to get even more by transferring your points to an airline.

Although, that’s not always straightforward. Sometimes, a ticket on an airline might offer better pricing but could lack award ticket availability for your preferred dates. This is particularly true for domestic U.S. flights, where American Airlines, Delta Air Lines, and United Airlines are beginning to match cash prices for award tickets.

Another perk of booking with Amex Travel is that these reservations generally earn you airline miles and contribute towards elite status since Amex is essentially purchasing regular fare tickets for you. The real benefit of this method can be calculated by considering the value of the miles you earn toward elite status.

Additionally, you can book tickets for others, making it a useful employee perk or a gift for friends and family. While there can be some issues with refunds, more often than not, you’ll receive your points back instead of ending up with flight credits in someone else’s name.

Final Thoughts

Even if the glory days of the 35% bonus for Amex Business Platinum Card members have passed, the benefit still stands strong. A frequent complaint among fellow business owners is the effort required to hunt for rewards and transfer points. That 35% bonus removes much of the hassle, but it does limit potential value a bit.

Still, the flexibility, progress towards elite status, and extra miles with preferred airlines can make this benefit worth considering.