American Express’s twin top-of-the-line travel credit cards, the American Express Platinum Card and the Business Platinum Card by American Express, are considered to be among the most powerful points-earning cards in the Canadian marketplace; however, they can also appear quite intimidating from a newcomer’s perspective due to their high annual fees.
One common approach is to start out by choosing between either the personal or the business version of this card in order to test-drive the many significant benefits on these cards and build your comfort with those $499 net annual fees. If you’re in this position, which card should you choose?
In this edition of the Head-to-Head series, we compare the personal and business Platinum cards in all the ways that matter to help you figure out which one is the better fit for you.
Head-to-Head: American Express Platinum Card vs. Business Platinum Card by American Express
Card Basics
We’ll start with the most basic criteria that should be considered when applying for any credit card: welcome bonuses, referral bonuses, the annual fee, and the rate at which you earn points on your daily purchases.
1. Welcome Bonus
On the personal version of the Platinum card, you can earn up to 90,000 Membership Rewards points upon spending $7,500 (CAD) in the first three months as a cardholder. That works out to be an average of $2,500 (CAD) per month to unlock the full welcome bonus, which is awarded in one fell swoop.
The business version of the Platinum card currently comes with a welcome bonus of up to 100,000 Membership Rewards points upon spending $10,000 (CAD) in the first three months as a cardholder. That works out to an average of $3,333 (CAD) in each of the first three months to unlock the full welcome bonus, which is also awarded in one go.
It’s worth noting that these offers are available through a referral link only, and the best-available welcome bonus without a referral link is 80,000 and 90,000 points, respectively.
Both welcome bonuses are very much worth pursuing, since it’s an easy way to boost your balance in a very short amount of time. However, the amount of spending required for each is relatively steep, although not unattainable by any means.
Keep in mind that you’ll also earn points for each dollar…
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