I currently have an American Express Business Platinum card under one of my LLCs. I use it for business expenses, the largest being airfare. I use two other cards for personal expenses.
Apart from the airline and hotel bonus (5x points) and the more-limited bonus for electronic goods and software/cloud systems (1.5x points), I do not use any of the benefits on this card (e.g., statement credits for Dell, Adobe, and Indeed; 1.5x points on construction and shipping providers). So the $700 annual fee is hard to justify. It also does not impact my personal credit score (unless I default), and I would prefer that it did since I always pay on time.
I'm thinking of closing this card and opening a consumer Amex Platinum card. I will be able to transfer all my existing points and continue to get 5x on flights and hotels.
While I would miss out on the 1.5x points for software, I would make use of the $200 Uber credit, $200 hotel credit, $240 digital media credit, and $300 Equinox credit. This would justify the $700 annual fee. It could also positively impact my personal credit.
My thought is to open the consumer Platinum card and use it only for business expenses. The only exception would be the Equinox charge.
Is it okay to do it this way for accounting purposes (i.e., reserving a personal card for business expenses only)? Are there any considerations I am missing?
