TAHKUCT

a bit of topic. I have noticed you have personal Amex Plat and business Amex Plat. Do you pay a full fee for each or get a discounted membership fee on one?

JackDaniels

The business Amex Plat is the OPEN credit card and not the charge card so there is no fee charged. I am interested in knowing the answer to this as well. I am almost thinking they might treat it as an additional cardmember?

Any other business owners know if the Amex Plat annual fee qualifies as a business expense?

mia

Separate account, separate fee.

If you are a principal of a closely held business I cannot see a compelling reason to have both Personal and Business Platinum charge cards unless you need additional Platinum cards for other household members. I would have the company pay the annual fee for a Business Platinum charge card, which you can use for benefits, and use a low or no fee personal American Express card for personal spending. If you do put some personal spending on the business card you can link a personal bank account to it to pay for those charges, or you can reimburse the company if your accountant prefers.

If you want to maximize Membership Rewards the personal card could be Zync or Premier Rewards Gold linked to the same Membership Rewards account. If you prefer to diversify your rewards the personal spending could be put on an affinity credit card such as Starwoood or Hilton.

sbm12

There is also the Business Platinum charge card - the one with the OPEN logo on the back - which absolutely has an annual fee.
I'm 99.9% certain that my accountant treated it as such on my tax returns. That cuts the annual fee a bit, but it is still a decent chunk of change.

biggestbopper

IMHO, the only good reason to have a pers and a biz Amex card of the same flavor (e.g., Starwood) is to get the bonus points in the first year.

After that, biz card should be canceled to avoid annual fee and, more importantly, because biz card is not covered by
Fair Credit Reporting Act conumer protections, thus is dangerous to use as compared to pers card. Pers card should always be used over biz card when that is an option.

JackDaniels

The Business Platinum I have is the SimplyCash cashback OPEN credit card. The card does not consist of an annual fee and does not receive the additional benefits of the traditional Platinum Charge card.

I am thinking of switching my personal to a business card through a holding company I own. Asking accountant beforehand though to see if it makes sense.

mia

Until recently there were several platinum color business credit cards, each with a different name, and each identical except for the rewards program. One was actually called Platinum Business which just might have been confused with the Platinum Business charge card .

@:-) It would probably reduce confusion in this forum if were to refer to your card as SimplyCash and ignore the color of the plastic.

angel.x.martinez

Must be this one

https://www201.americanexpress.com/s...b&ct=48&iep=35

Oddly enough, it has free MR and no annual fee. Sounds good so far.

WBOTM

This card design is also used for the AmEx Business Management Account (credit card).

It has free enrollment for the MR Express program but can be linked to the "regular" MR program.