American Express has a limited time offer on the Business Platinum Card from American Express OPEN. New cardholders earn up to 100,000 Membership Rewards Points.

If you’ve never had the small business version of the Amex Platinum Card and business is going well, this is a great offer. The card is available not just to formal business owners but also sole proprietors and even those who do consulting or freelance work on the side. This offer ends August 8, 2018.

What’s required to earn the bonus?

New cardholders will earn 50,000 Amex Membership Rewards points after spending $10,000.

It’s then possible to earn an extra 50,000 points after spending an additional $15,000 all on qualifying purchases within the first 3 months of approval.

Cardmembers end up with at least 125,000 points total when factoring in the spending. If $10,000 of those $25,000 were spent on airfare, however, accumulated points would surpass 165,000.

What are 100,000 AMEX Membership Reward Points Worth?

Amex Membership points have some valuable airline transfer partners. I’ve had some amazing flights on Emirates, Air Canada, and most recently Iberia. And I have a flight that I’m really looking forward to coming up soon on ANA. Here are some other examples of how to spend your American Membership points.

First Class On Any Star Alliance Airline via Aeroplan

On just about any route, 100,000 points is enough to score a first class seat on a Star Alliance airline (think All Nippon Airways, EVA Air,Thai Airways, Lufthansa).

Round-trip Business Class, U.S. to Japan on ANA

If you transfer your points to All Nippon Airways, you can fly that airline’s 5-star business class product round-trip for less than 100,000 points. Award tickets on ANA must be booked round-trip, but return prices in business start at 75,000 points in the low season, up to 90,000 points in the high season.

Other American Express Transfer Partners

Here are some other great ways to use Membership Reward points.

• Round-trip in Business Class to Europe, Asia, South Africa, or New Zealand
• Three round-trip coach flights to Hawaii on United via Singapore Airlines
• Three round-trip economy flights to Europe on American Airlines, British Airways or Iberia using British Airways Executive Club.

What Does The Card Cost?

Amex charges a $450 annual fee on the Business Platinum card, but the card comes with some awesome perks that can easily compensate for the high annual fee:

• American Express will pay for cardmembers Global Entry or TSA PreCheck Applications.
• $200 in airline fee credits per calendar year, with an airline of their choice.
• Ten GoGo in-flight Wi-Fi passes to use every year.
• Gold elite status with Hilton and Starwood.
• Access to Fine Hotels & Resorts.

Perhaps my favorite card benefit of all is access to Amex Centurion Lounges. I’ve been to six different Centurion Lounges, many of them multiple times. I use them whenever I get the chance. I’ve been known to say I never met a Centurion Lounge I didn’t like! Many times the Centurion Lounges are better than the business class lounges I qualify for. Not only that, but cardholders can use the card to enter Delta SkyClubs and Priority Pass lounges. I’ve had this card for several years now and it’s a keeper for me.

Earning and redeeming

Cardholders earn five Amex Membership Rewards points-per-dollar on flights booked directly with airlines, and travel booked through Amex. And 1.5 points-per-dollar for purchases over $5,000.

When cardholders select an airline and redeem their points for flights, they’ll get 35% of their points back for coach flights on the selected airline. And 35% of points back for all Business and First Class flights, regardless of airline. This 35% rebate is a unique perk to this card, that the personal one doesn’t offer.

Who Can Apply?

This is generally regarded as the foremost small business credit card on the market. It has the highest annual fee, but also comes with the most highly valued benefits. If your business or self proprietorship is doing well, it could make sense to sign up for this card while the bonus is so high.

Unlike Chase, American Express does not limit the number of cards one can sign-up for, nor the number of bonus offers one can qualify for. Anyone who has held the Business Platinum card before does not qualify for the bonus, but if you have any other American Express card, including the personal Platinum Card by American Express, you qualify.

Business owners can do well with this card especially if their business is spending $8,000+ (the spending bonus of 25k roughly divided by 3 months) a month and can earn the full welcome bonus to get at least 125,000 Amex Membership Rewards points.

Bottom Line

Depending on your travel patterns, Membership Reward points may not be the best frequent flyer currency, but 125,000 of them can still go a long way. There are many amazing destinations within reach of the welcome bonus on this card. And the benefits of the Amex Platinum Business card certainly offset the fee. Just make sure you have $25,000 to spend in three months to qualify for the full offer.