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The American Express® Platinum Business
FreedomPass Card is designed for those with very good credit and who plan to
take advantage of the reward program.
Cardholders have access to the reward program with no additional fee. Through
the reward program, cardholders earn one point for each dollar spent on all
purchases. Plus, cardholders will receive 5,000 bonus points after their first
purchase. Points can be redeemed for discounts on purchases at airlines, hotels,
car rentals, cruise lines, travel agencies, tour operators, and on-line travel
sites. Once the eligible purchase appears on the monthly statement, the
cardholder may request the discount redemption to be applied. Points can only be
redeemed toward one purchase at a time in 7,500 increments, which is equal to a
credit of up to $100. Points never expire, and there is no limit to the amount
of points that can be redeemed per eligible purchase; however, they must be
redeemed in a single request.
The card has no annual fee, but it does have an above average interest rate for
purchases and balance transfers. However, cardholders can take advantage of the
0% introductory rate on purchases for the first six months and the reasonable
7.99% introductory rate on balance transfers for the life of the loan on balance
transfers submitted during the first six months.
As with all business credit cards issued by American Express®, cardholders will
be able to take advantage of various additional services and benefits. Some of
the benefits include up to $100,000 in travel accident insurance, auto rental
insurance, and special discounts from select retailers. It is important to
review the disclosures for participating merchant discounts, as restrictions and
limitations do apply for the discounts.
Therefore, those who plan to pay in full each month after the introductory rate
expires (to avoid finance charges) and will take advantage of the reward program
to earn discounts on eligible purchases will benefit most from what the American
Express® Platinum Business FreedomPass Card has to offer.
Review Date: May 1st, 2007 |
