How to achieve the Amex Business Platinum’s spending requirement to earn 150,000 points

02.05.2024 - 14:50 / thepointsguy.com

Credit card welcome bonuses are typically the easiest way to build up a healthy stash of points or miles quickly. They're often relatively effortless to earn and they can be worth thousands of dollars. However, some of the most lucrative bonuses require you to meet high spending requirements.

The Business Platinum Card® from American Express is currently offering an elevated welcome bonus of 150,000 Membership Rewards points after you spend $20,000 on eligible purchases with the Business Platinum Card within the first three months of card membership. TPG estimates Amex points value to be 2 cents each, making this bonus worth $3,000 — and potentially more if you know how to redeem American Express Membership Rewards for maximum value.

If your small business engages in high spending, this shouldn't be a problem. For the rest of us, we might need a strategy to achieve this tempting bonus.

When you're trying to meet a minimum spending requirement, you should funnel all your spending through a single card. If you still don't think you'll be able to achieve the spending requirement, this post will help you get creative.

The Amex Business Platinum is one of the most benefits-rich cards on the market — particularly with annual statement credits worth over $1,500. Here's what you'll get for its $695 annual fee (see rates and fees):

*Enrollment is required for some benefits, and terms apply.
**Eligibility and benefit levels vary by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by New Hampshire Insurance Company, an AIG Company.

Here are the earning rates for the card:

Terms apply.

***The 1.5 earning rates are subject to a combined cap of $2 million in eligible U.S. purchases per calendar year (1 point per dollar thereafter).

You can read our full Amex Business Platinum review to learn more about these benefits.

If that minimum spending requirement of $20,000 within the first three months seems daunting, here are some creative ways you might be able to achieve it — while remaining financially responsible.

This may fail to move the needle significantly with a spending requirement of $20,000, but there are plenty of bills that you can pay in advance. Things like utilities, car or renters insurance may allow you to overpay. If it's within your means, you might want to pay your utilities and other bills a few months in advance if it helps you meet the spending requirements for this card.

The Amex Business Platinum is a small-business card. If you've got employees, help them help you by adding them as authorized users — at least during the first three months. Their spending will count toward satisfying the $20,000 spending