The American Express Platinum Business Credit Card is appropriate for business owners who have good credit and prefer to use one card to manage all business-related expenses and carry a monthly balance. The interest rate is based on the cardholder’s credit history and can range from 2.99% to 9.99% plus prime rate and provides an option for paying business expenses over time instead of all at once. The APR on cash advances is 22.99% variable, based on prime rate.

The card has no annual fee and has a 0% introductory interest for the first twelve months on purchases with a fixed rate of 4.99% for the life of any balance transfer that is made at the time of the application. There is no balance transfer fee associated with this card, but future balance transfers may incur a fee. Cash advances will be assessed a 3% Express Cash transaction fee with a minimum charge of $5.

There is also a Membership Reward Options program attached to this card at no additional cost. It gives cardholders the opportunity to redeem any points they have accumulated for various benefits and services. There is no yearly limit on how many points you can accumulate and no expiration date for redeeming accumulated points. Points are earned at the rate of one point per dollar spent and can be redeemed for merchandise, entertainment, and benefits that are related to travel.

Other benefits that are related to American Express Platinum Business include the following:

•Online account access

•Protection of purchases

•Extended warranty for purchases

•Travel accident insurance up to $100,000

•Insurance for lost luggage

•Insurance for car rental

•Emergency replacement of cards

•Business checkbooks at no additional charge

•American Express Connections Calling Card at no charge including ten minutes free monthly for a year and eighteen cents a minute after that

•Access OPEN, The Small Business Network services

•Discounts at FedEx, Kinko’s, Staples and other merchants participating in the offered programs

Business owners who have good credit will find the benefits quite attractive, but the interest rates based on credit history may not be attractive to others. It’s important to keep that in mind when deciding whether this card will serve your business needs.