The second part of this American Express Platinum Business Card series highlighted how the card can earn valuable American Express Membership Rewards points and the advantage of having the option to pay up to 55 days for purchases.
In part three, we look at the extensive insurance benefits, the ability to add up to 99 additional cards for employees and how bookkeeping can be made easy.
American Express Business Platinum Card benefits series
- Part 1: Unlocking credit and streamlining FX payments
- Part 2: Earn Membership Rewards points and up to 55 days interest-free
- Part 3: Get comprehensive insurance and up to 99 supplementary cards
- Part 4: Rewards and Lounge Benefits
Note: This guide has been produced in partnership with American Express, a Point Hacks commercial partner.
Insurance Coverage
If you regularly travel for business, holding an American Express Platinum Business Card will help give you some real peace of mind.
The card comes packed with a large range of included insurance benefits that can cover not only interstate and overseas travel but also things closer to home. Activating the insurance is effortless, given that it is automatically activated by holding the card.
As always, make sure to fully read the PDS to ensure that this coverage does suit your needs.
Some of the key insurance inclusions for business owners are listed in the table below.
| Medical Emergency Expenses Cover | Provides cover for repatriation/evacuation, cost of overseas treatment, emergency dental treatment and reasonable extra accommodation costs in the event of a Medical Emergency |
| Travel Inconvenience Cover | Provides up to $1400 cover for delayed or cancelled flights or missed connections |
| Baggage, Money and Documents Cover | Provides up to $30,000 cover for damaged, destroyed, lost or stolen personal baggage, money or documents |
| Business Trip Completion Cover | Provides up to $20,000 cover for the cost of flights, accomodation and meals for another person to take your place on a business trip if you are unable to travel as planned due to serious injury or sickness |
| Monthly Business Expenses Cover | Provides cover for monthly business expenses if you are self-employed and suffer an injury resulting in Temporary Total Disablement and a loss of income for 30 days or more. |
Further information on all insurance coverage can be found in the PDS above.
Employee Cards
Need to provide cards to your employees who make business-related purchases? No problem.
As an American Express Platinum Business Card Member, you can add up to 99 employee cards to your account at no additional cost. The advantage of doing this benefit is that all your employees’ expenses can be itemised by card, and all American Express Membership Rewards points earned on each card can be pooled into your account.
As a reminder, cardholders will earn 2.25 Membership Rewards points for every dollar spent on the account, excluding government spending, which can be converted to 10 different frequent flyer programs at a rate of 2:1.
Employees who live in Australia and are over 18 years of age are eligible to receive supplementary cards.
And note that the Primary Card Member and each Employee Card Member are jointly liable for all Employee Card spending, so make sure to frequently monitor the spend on all cards.
Tax Time Made Easy
An American Express Platinum Business Card can help make tax time easy.
Statements, transaction details and balances can be downloaded directly to Quicken, Microsoft Excel or MYOB accounting software, which can make you or your accountant’s job easier come tax time.
In addition, if you are a user of MYOB, you can automatically sync your card transactions with MYOB, helping you to keep on top of your bookkeeping.
Summary
Being a cardholder does make your business travel easier and provides you with peace of mind for when things go wrong, with comprehensive insurance included as part of the Card that is automatically activated by just being a cardmember or making an eligible purchase on the card.
The ability to add up to 99 Employee Cards to your account could help you better manage employee business expenses and comes with the added benefit of earning valuable Membership Rewards points from all employee business expenses.
The seamless integration with popular accounting software will allow you to easily compile the necessary documentation for tax purposes, allowing you to spend more time concentrating on what’s important, being your business.
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