The ever-changing landscape of points and miles programs makes it wise to diversify your travel rewards. That said, sometimes focusing on one program can be just as effective—especially when it offers the flexibility to transfer points to multiple airlines and hotels.
One standout option is the American Express Membership Rewards program. Right now, there’s a great opportunity to build a strong balance of Membership Rewards points with the Business Platinum Card® from American Express and the American Express® Gold Card.
Both cards currently feature impressive welcome offers, making them a powerful combination worth considering.
If you’re aiming for a high-earning, benefit-packed strategy, this duo might be the best combination available.
Here’s why these two cards deserve a spot in your wallet.
Unlocking Two Lucrative Welcome Offers
Let’s address the cost factor upfront. The annual fees for these cards are on the higher side—$695 (see rates and fees) for the Amex Business Platinum and $325 for the Amex Gold (see rates and fees). That’s a combined $1,020 in fees per year, which might seem steep. The upside is that these costs can be offset by the substantial welcome offers available.
New Amex Business Platinum applicants can earn 150,000 bonus points after spending $20,000 within the first three months of membership.
New Amex Gold applicants can secure 60,000 bonus points after spending $6,000 within the first six months of card membership.
Meeting these spending thresholds means earning at least 210,000 Amex Membership Rewards points upfront, before even factoring in spending category bonuses.
According to TPG’s November 2024 valuation, Amex Membership Rewards points are estimated at 2 cents each, valuing 210,000 points at approximately $4,200—or potentially even more, depending on redemption strategies.
Separating Business and Personal Spending
Holding both a personal and business card has several advantages, especially when it comes to managing expenses. Keeping work-related transactions off your personal credit report can help improve your debt-to-credit utilization ratio, which may enhance your credit score.
The Amex Business Platinum provides business-focused statement credits and targeted earning categories (discussed below), making it ideal for professional spending. Meanwhile, the Amex Gold is well-suited for everyday purchases such as dining and groceries.
Strategic Spending: Where Each Card Excels
One of the biggest benefits of using both the Amex Business Platinum and Amex Gold Card is the ability to optimize rewards by matching purchases to the best earning categories.
The Amex Gold Card provides 4 points per dollar at restaurants and U.S. supermarkets (up to $25,000 per year, then 1 point per dollar). It also earns 3 points per dollar on flights booked directly with airlines or through Amex Travel, and 2 points per dollar on prepaid hotels booked through Amex Travel.
The Amex Business Platinum gives 5 points per dollar on flights and prepaid hotels booked through Amex Travel. Additionally, it earns 1.5 points per dollar on purchases in key business categories, including construction materials, electronics, software, cloud systems, shipping, and purchases of $5,000 or more (up to $2 million annually, then 1 point per dollar).
If you typically book flights directly with airlines, the Amex Gold’s 3 points per dollar rate might be the best fit. But if you frequently use Amex Travel, the Business Platinum’s 5 points per dollar rate can generate even greater rewards.
Both cards provide access to Amex’s Hotel Collection. The Amex Gold earns 2 points per dollar on these stays, while the Business Platinum earns 5 points per dollar. The Business Platinum also unlocks exclusive perks through Fine Hotels + Resorts.
Getting the Most Out of Your Points
The Pay with Points feature allows Amex Membership Rewards points to be used for travel bookings through Amex Travel. This generally provides a value of 1 cent per point for flights, with lower values for hotel stays and other bookings.
However, Business Platinum cardholders can receive a 35% rebate when using Pay with Points in two scenarios:
- When booking a first- or business-class ticket with any airline
- When booking a flight in any cabin with their chosen airline for the annual up-to-$200 airline fee credit
This benefit applies to a maximum of 1 million rebated points per year.
While transferring points to airline or hotel partners often provides better value, Pay with Points offers flexibility. There’s no need to worry about blackout dates, and flights booked this way still earn frequent flyer miles and status credits.
Stacking Statement Credits for Maximum Value
Holding both cards means access to multiple statement credits that can significantly offset annual fees.
- The Amex Gold Card provides up to $10 in Uber Cash per month ($120 annually) for rides or Uber Eats, plus an additional $10 per month in dining credits ($120 annually). It also includes a $100 on-site credit for qualifying purchases on Hotel Collection bookings of two nights or more. Additional benefits include up to $100 in Resy credits per year ($50 bi-annually) and up to $84 annually at U.S. Dunkin’ locations ($7 per month).
- The Amex Business Platinum includes up to $400 per year for U.S. Dell purchases ($200 every six months), up to $360 per year for Indeed job postings ($90 per quarter), up to $150 per year for Adobe subscriptions, and up to $120 annually for U.S. wireless phone bills ($10 per month). These three credits are scheduled to expire on June 30, 2025.
For frequent travelers, the Business Platinum also includes an annual $200 airline incidental fee credit, up to $199 per year for Clear Plus membership, and reimbursement for Global Entry ($120 every four years) or TSA PreCheck ($85 every 4.5 years).
By taking advantage of these statement credits, the total value gained in the first year can significantly reduce out-of-pocket expenses. Since none of these benefits overlap, holding both cards allows you to maximize every available perk.
Additional Benefits That Make a Difference
While the Amex Gold is primarily a points-earning powerhouse, the Business Platinum provides premium travel perks.
This includes complimentary access to airport lounges such as Amex Centurion Lounges, Delta Sky Clubs*, and Priority Pass locations. Business Platinum cardholders can also enroll in Marriott and Hilton Gold elite status, gain rental car elite benefits, and unlock discounts through the International Airline Program.
Starting February 1, 2025, Business Platinum cardholders will receive 10 annual visits to Delta Sky Clubs when flying with Delta. Those who spend $75,000 or more annually will continue to enjoy unlimited lounge access.
For those who prioritize travel comfort and convenience, these perks alone can make the Business Platinum a compelling choice.
Final Thoughts
While earning travel rewards from multiple programs can be effective, focusing on American Express Membership Rewards can offer just as much—if not more—value.
The right combination of Amex cards depends on individual spending habits, but pairing the Business Platinum and Gold Card creates a dynamic duo. Their respective welcome bonuses, earning categories, and perks work together to maximize both daily and business-related expenses, making them a top-tier option for those looking to optimize their rewards strategy.
