Key Points

• The Amex Business Platinum offers superior travel perks and status benefits but comes with a $695 annual fee and limited earning flexibility.
• Capital One Venture X Business provides simpler redemption at 2x miles on everything with a lower $395 annual fee after credits.
• Choose Amex for frequent flyers who maximize airline benefits; choose Capital One for straightforward rewards and travel flexibility.

Introduction

You're looking at two of the most premium business travel cards on the market, and the choice isn't obvious. The Business Platinum Card from American Express and the Capital One Venture X Business both promise exceptional travel benefits, but they take completely different approaches. One rewards loyalty and frequent travel with status and perks. The other keeps things simple with flat earning and flexible redemption.

The Amex Business Platinum costs $695 annually and delivers elite status, airline credits, and access to the most exclusive lounges. The Capital One Venture X Business charges $395 (effectively free after the $400 travel credit) and earns 2x miles on every purchase with straightforward redemption options.

Here's how these premium business cards compare and which one makes sense for your business travel patterns.

Quick Comparison

The Business Platinum Card from American Express

• Annual Fee: $695
• Welcome Bonus: 150,000 Membership Rewards points after $15,000 spend in 3 months
• Best For: Frequent business travelers who maximize airline benefits and elite status

Capital One Venture X Business

• Annual Fee: $395 (effectively free with $400 annual travel credit)
• Welcome Bonus: 75,000 miles after $10,000 spend in 3 months
• Best For: Business owners wanting simple, flexible rewards without category restrictions

Welcome Bonus Breakdown

The Amex Business Platinum currently offers 150,000 Membership Rewards points after spending $15,000 in the first three months. At conservative redemption values of 1.5 cents per point through transfer partners, that's worth $2,250. The higher spending requirement means this works best for businesses with significant monthly expenses.

Capital One Venture X Business delivers 75,000 miles after $10,000 in spending within three months. Those miles are worth $750 when redeemed for travel, or potentially more through transfer partners like Air Canada Aeroplan or Turkish Airlines. The lower spending threshold makes this more accessible for smaller businesses.

Winner: Amex Business Platinum for raw bonus value, but Capital One wins for accessibility with the lower spending requirement.

Earning Structure: Where They Diverge Dramatically

This is where these cards take completely different paths.

Amex Business Platinum Earning

The Amex Business Platinum earns 5x points on flights and prepaid hotels booked through American Express Travel, and 1.5x points on eligible purchases of $5,000 or more (up to 2 million additional points per year). Everything else earns 1x point.

This structure rewards concentrated spending. Book a $10,000 business trip through Amex Travel? You'll earn 50,000 points. Make large vendor payments? The 1.5x bonus adds up quickly. But everyday business expenses like office supplies, software subscriptions, and smaller purchases earn just 1x.

Capital One Venture X Business Earning

Capital One Venture X Business keeps it simple: 2x miles on every purchase, everywhere. No categories to track, no minimum purchase amounts, no booking portals required. Your $50 office supply order earns the same rate as your $5,000 conference expense.

The card also offers 10x miles on hotels and rental cars booked through Capital One Travel, and 5x miles on flights through the portal. These bonuses make the portal worth checking, but you're never penalized for booking directly.

Winner: Capital One for simplicity and consistent earning. Amex for businesses making large purchases or booking significant travel through their portal.

Annual Credits and Benefits: The Real Cost Analysis

Amex Business Platinum Credits

The $695 annual fee on The Business Platinum Card includes:

• $200 airline fee credit (per calendar year, select one airline)
• $200 Dell credit ($100 every six months)
• $189 CLEAR Plus credit
• $100 Global Entry or TSA PreCheck credit (every 4-5 years)
• $150 Adobe Creative Cloud credit (annually)
• $120 wireless telephone credit ($10 monthly)

Add these up perfectly and you're looking at $959 in annual credits. The catch? You need to actually use all of them. The airline fee credit covers baggage fees and seat selections but not tickets. The Dell credit requires Dell purchases twice yearly. The Adobe credit only helps if you use Creative Cloud.

Capital One Venture X Business Credits

The $395 annual fee on Capital One Venture X Business includes:

• $400 anniversary travel credit (statement credit for travel purchases)
• 10,000 anniversary bonus miles (worth $100)

That's effectively $500 in annual value against a $395 fee, making the net cost negative $105. The travel credit applies automatically to any travel purchase—flights, hotels, rental cars, rideshares. No hoops to jump through.

Winner: Capital One for simplicity and guaranteed value. Amex offers more total credits but requires strategic planning to maximize.

Travel Benefits: Where Amex Pulls Ahead

Lounge Access

Amex Business Platinum provides:

• Centurion Lounge access with up to two guests
• International American Express lounges
• Priority Pass Select with unlimited visits and two guests
• Escape Lounge access
• Plaza Premium lounges
• Lufthansa, Air France, and other airline lounges when flying their premium cabins

This is the gold standard for lounge access. Centurion Lounges alone often justify the annual fee for frequent travelers, with premium food, full bars, and shower suites at major airports.

Capital One Venture X Business includes:

• Capital One Lounge access (currently Dallas, Denver, with more coming)
• Plaza Premium lounges worldwide
• Priority Pass with unlimited visits (2 guests per visit after $27 fee each)

The Capital One network is expanding but currently limited. For most travelers, this means relying primarily on Plaza Premium and Priority Pass locations.

Winner: Amex decisively. The lounge access is comprehensive and includes the industry's best lounges.

Elite Status: Amex's Secret Weapon

The Amex Business Platinum automatically grants:

• Marriott Bonvoy Gold Elite status
• Hilton Honors Gold status
• National Car Rental Executive Elite status
• Hertz President's Circle status
• Avis Preferred Plus status

Marriott Gold delivers late checkout, room upgrades, and bonus points. Hilton Gold provides similar benefits. These perks add real value for business travelers staying at these hotel chains regularly.

Capital One Venture X Business offers no automatic elite status with any travel program.

Winner: Amex. Elite status transforms business travel, especially for road warriors.

Redemption Flexibility: Capital One's Advantage

Amex Membership Rewards

Amex Membership Rewards transfer to 17 airline and 3 hotel partners at 1:1 ratios. Partners include Delta, Air Canada Aeroplan, British Airways, and Marriott Bonvoy. You can also book travel through the Amex portal at 1 cent per point, or redeem for gift cards and statement credits at lower values.

The transfer partners unlock incredible value—business class flights to Europe through Air Canada or Virgin Atlantic often deliver 3-4 cents per point in value. But this requires research and flexibility. Our complete guide to Chase Ultimate Rewards explains transfer partner strategies in detail (the same principles apply to Amex Membership Rewards).

Capital One Miles

Capital One miles work three ways. Book travel through the Capital One portal and redeem at 1 cent per mile. Transfer to 15+ airline partners including Air Canada, Turkish Airlines, and Air France KLM at 1:1 ratios. Or erase travel purchases from your statement at 1 cent per mile—no portal required.

That last option is Capital One's killer feature. Book anywhere, with any airline or hotel, using any method. Then erase the purchase with miles. No blackout dates, no award availability issues, no transfer wait times.

Winner: Tie. Amex offers slightly more transfer partners. Capital One offers maximum flexibility with the purchase eraser.

Insurance and Purchase Protection

Both cards include:

• Trip cancellation and interruption insurance
• Baggage delay insurance
• Lost luggage reimbursement
• Travel accident insurance
• Car rental collision damage waiver
• Purchase protection
• Extended warranty coverage

The coverage is nearly identical with minor differences in coverage limits. Both provide solid protection for business travel and purchases.

Winner: Tie. Both deliver comprehensive travel protections.

Foreign Transaction Fees

Neither card charges foreign transaction fees, making both excellent choices for international business travel.

Additional Cardholder Cards

Amex Business Platinum charges $195 for each additional employee card. These cards carry the same benefits as the primary card, including lounge access and elite status.

Capital One Venture X Business offers unlimited free employee cards with identical benefits to the primary cardholder.

Winner: Capital One. Free employee cards add significant value for businesses with multiple travelers.

Who Should Choose the Amex Business Platinum

Get The Business Platinum Card from American Express if you:

• Fly frequently for business (at least once monthly)
• Stay primarily at Marriott or Hilton properties
• Can maximize the Dell, Adobe, and wireless credits
• Value Centurion Lounge access highly
• Make large purchases regularly for the 1.5x bonus
• Want automatic elite status benefits

The card works best for established businesses with significant travel budgets and the ability to use specialized credits strategically. If you're building a business credit card strategy, this should be a consideration after you've established your foundation.

Who Should Choose Capital One Venture X Business

Choose Capital One Venture X Business if you:

• Want straightforward 2x earning on all spending
• Prefer flexible redemption without portal restrictions
• Have multiple employees who travel (free employee cards)
• Don't want to track categories or spending thresholds
• Value the guaranteed $400 travel credit
• Prefer simpler annual benefits

This card excels for businesses wanting premium travel benefits without complicated earning structures or credit requirements.

The Math: Real-World Scenarios

Scenario 1: Tech Startup ($150,000 Annual Business Spending)

Spending Breakdown:

• $50,000 on software/cloud services
• $40,000 on marketing and advertising
• $30,000 on business travel
• $20,000 on office supplies and miscellaneous
• $10,000 on client entertainment

Amex Business Platinum:

• Travel (through Amex portal): 30,000 × 5 = 150,000 points
• Two large purchases at $5,000+: 10,000 × 1.5 = 15,000 points
• Everything else: 110,000 × 1 = 110,000 points
• Total: 275,000 points (worth ~$4,125 at 1.5cpp)
• Less annual fee: -$695
• Net value: $3,430

Capital One Venture X Business:

• All spending: 150,000 × 2 = 300,000 miles
• Anniversary bonus: 10,000 miles
• Total: 310,000 miles (worth $3,100 at 1cpp)
• Plus travel credit: +$400
• Less annual fee: -$395
• Net value: $3,105

Winner: Amex by $325, but requires booking travel through their portal and strategic large purchases.

Scenario 2: Consulting Firm ($300,000 Annual Business Spending)

Spending Breakdown:

• $120,000 on team travel (booked directly with airlines)
• $80,000 on client dinners and entertainment
• $60,000 on software and subscriptions
• $40,000 on miscellaneous business expenses

Amex Business Platinum:

• Travel (not through portal): 120,000 × 1 = 120,000 points
• Large purchases: 100,000 × 1.5 = 150,000 points (assuming $5,000+ purchases)
• Everything else: 80,000 × 1 = 80,000 points
• Total: 350,000 points (worth ~$5,250 at 1.5cpp)
• Less annual fee: -$695
• Net value: $4,555

Capital One Venture X Business:

• All spending: 300,000 × 2 = 600,000 miles
• Anniversary bonus: 10,000 miles
• Total: 610,000 miles (worth $6,100 at 1cpp)
• Plus travel credit: +$400
• Less annual fee: -$395
• Net value: $6,105

Winner: Capital One by $1,550. The flat 2x rate dominates when travel isn't booked through the Amex portal.

Transfer Partners Comparison

Both cards offer strong transfer partner networks, but with different strengths.

Amex Business Platinum Transfer Partners

Airlines:

• Aeroplan (Air Canada) - Star Alliance
• AeroMexico
• Air France KLM Flying Blue
• Alitalia MilleMiglia
• ANA Mileage Club
• Avianca LifeMiles
• British Airways Executive Club
• Cathay Pacific Asia Miles
• Delta SkyMiles
• Emirates Skywards
• Etihad Guest
• Hawaiian Airlines HawaiianMiles
• Iberia Plus
• JetBlue TrueBlue
• Qantas Frequent Flyer
• Singapore Airlines KrisFlyer
• Virgin Atlantic Flying Club

Hotels:

• Choice Privileges
• Hilton Honors
• Marriott Bonvoy

Capital One Venture X Business Transfer Partners

Airlines:

• Aeroplan (Air Canada)
• Avianca LifeMiles
• British Airways Executive Club
• Cathay Pacific Asia Miles
• Emirates Skywards
• Etihad Guest
• EVA Air Infinity MileageLands
• Flying Blue (Air France KLM)
• JetBlue TrueBlue
• Qantas Frequent Flyer
• Singapore Airlines KrisFlyer
• TAP Air Portugal Miles&Go
• Turkish Airlines Miles&Smiles
• Virgin Atlantic Flying Club
• Wyndham Rewards

Capital One notably includes Turkish Airlines and TAP Portugal, both offering excellent value for transatlantic business class. Amex includes Delta as a major U.S. carrier option.

Winner: Slight edge to Amex for including Delta and having Marriott/Hilton as hotel partners, but both networks are strong.

Customer Service and Acceptance

Amex Business Platinum cardholders access dedicated customer service lines with shorter wait times and more experienced representatives. The concierge service helps with travel planning, restaurant reservations, and event tickets.

Capital One offers 24/7 customer service with generally good reviews, though without dedicated premium lines. The service quality is solid but less white-glove than Amex.

Acceptance differs significantly. Capital One Venture X Business runs on the Visa network, accepted virtually everywhere worldwide. Amex acceptance has improved dramatically but still faces occasional rejection, particularly at smaller businesses and some international merchants.

Winner: Capital One for acceptance. Amex for premium service.

The Verdict: Which Card Should You Choose?

Neither card is universally better—your choice depends entirely on how you travel and spend.

Choose the Amex Business Platinum if you:

• Fly weekly or multiple times monthly for business
• Almost always stay at Marriott or Hilton properties
• Use Centurion Lounges regularly (they're in your home airport or frequent destinations)
• Can use the Dell, Adobe, and wireless credits consistently
• Make regular purchases of $5,000 or more
• Book travel through Amex Travel for the 5x earning
• Value automatic elite status

Choose the Capital One Venture X Business if you:

• Want simple, consistent rewards without category tracking
• Book travel through various channels and platforms
• Have multiple employees who need cards (unlimited free employee cards)
• Prefer guaranteed value (the $400 credit is easy to use)
• Don't stay loyal to specific hotel chains
• Want maximum booking flexibility
• Spend heavily but not necessarily in bonus categories

Can You Get Both?

Many business owners carry both cards strategically. Use the Amex Business Platinum for large vendor payments (1.5x bonus), Amex Travel bookings (5x), and accessing Centurion Lounges. Use Capital One Venture X Business for everything else at 2x miles with simpler redemption.

The combined annual fees ($1,090) are steep, but the welcome bonuses alone (225,000 total points/miles worth roughly $3,000+) justify the first year. After that, evaluate whether the combined benefits exceed the cost based on your actual usage.

If you're interested in maximizing business credit cards, this two-card strategy can work exceptionally well for high-spending businesses.

Frequently Asked Questions

Can I product change between these cards?

No. The Amex Business Platinum cannot be downgraded to or upgraded from other Amex business cards. Capital One Venture X Business cannot be changed to other Capital One products. These are standalone premium products.

Which card is better for international business travel?

Capital One Venture X Business edges ahead slightly due to Visa's superior worldwide acceptance. However, Amex Business Platinum's extensive lounge network (including international locations) and travel insurance slightly offset this advantage. If you travel internationally frequently, consider carrying both—use Capital One as your primary payment method and Amex for lounge access.

Do the credits reset annually or by card anniversary?

Amex Business Platinum credits vary. The airline fee credit resets each calendar year (January 1). Dell credits reset every six months from account opening. The wireless credit is monthly. Capital One's $400 travel credit resets on your card anniversary date.

Can I use points from both cards for the same trip?

Yes, but not directly. You'd need to transfer points to the same loyalty program from both cards. For example, both cards transfer to Air Canada Aeroplan—you could transfer from both accounts to book one award ticket. Alternatively, use one card's points for flights and the other for hotels.

Which card is easier to maximize the annual fee benefits?

Capital One Venture X Business is significantly simpler. The $400 travel credit applies automatically to any travel purchase. Amex Business Platinum requires tracking multiple credits across different categories and vendors, making it more work to maximize value.

Do authorized users get the same benefits?

Yes for both cards. Amex charges $195 per additional card but grants full benefits including lounge access and elite status. Capital One offers unlimited free employee cards with identical benefits, making it significantly better value for businesses with multiple travelers.

Final Thoughts

The Amex Business Platinum delivers unmatched benefits for frequent business travelers who can maximize specialized credits and elite status perks. It's the better choice for road warriors based at airports with Centurion Lounges who stay primarily at Marriott or Hilton properties.

The Capital One Venture X Business offers superior everyday value with straightforward earning, flexible redemption, and benefits that actually work for most businesses. It's the smarter choice for most business owners who want premium travel rewards without the complexity.

For businesses spending $150,000+ annually on travel and able to use Amex's specialized credits, the Business Platinum edges ahead. For everyone else, Capital One Venture X Business delivers better value with less effort.

The real question isn't which card is objectively better—it's which card matches your business's actual spending patterns and travel habits. Answer that honestly, and the choice becomes clear.

Looking to expand your business credit card strategy? Check out our guides to the best business credit cards and best business credit cards for startups.

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