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Business cardholders who are looking for premium benefits have a relatively limited selection to choose from. But just because there are only a handful of choices, it doesn’t mean that there aren’t quality credit cards available. Two of the most popular premium small business credit cards are American Express Business Platinum vs Chase Ink Business Preferred Credit Card. Let’s discuss the pros and cons of each and share which card is right for your business.

Link to Apply: The Business Platinum® Card from American Express

Link to Apply: Ink Business Preferred℠ Credit Card

Know Your Spending To Maximize Rewards

Before you pick a business credit card, you want to know which categories of merchants you spend the most. Every rewards credit card provides bonus points and additional benefits for different categories of businesses.

Companies that buy a lot of meals for employees or clients will want a rewards credit card that provides points for dining and entertainment. If you’re a transportation company spending a lot on gas, ideally you’d select a credit card that offers bonus points on fuel purchases. If you purchase a lot of airfare, bonus points for airplane tickets are a must.

American Express Business Platinum vs Chase Ink Business Preferred

Let’s compare two popular premium business credit cards available – The American Express Business Platinum vs Chase Ink Business Preferred Credit Card.

Keep in mind that both American Express and Chase have implemented rules to limit new credit cards to people who they consider are gaming the system. American Express limits the welcome bonus to “once per lifetime”. This means that you cannot receive a welcome bonus on a specific card if you’ve received a welcome bonus on that card previously.

Chase has their infamous “5/24 Rule” where you will not be approved for some of their top credit cards if you’ve opened more than five new credit cards in the last 24 months.

The Business Platinum Card from American Express Overview

The Business Platinum® Card from American Express was one of the original premium credit cards. Although the competition has heated up, American Express has continued to evolve. They offer intriguing benefits that keep cardholders coming back year after year.

The current marketing bullets are as follows:

  • Welcome Offer: Earn up to 75,000 Membership Rewards® points.
  • Earn 50,000 Membership Rewards® points after you spend $10,000 and an extra 25,000 points after you spend an additional $10,000 all on qualifying purchases within your first 3 months of Card Membership.†
  • Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com.
  • Get 50% more Membership Rewards® points. That’s 1.5 points per dollar, on each eligible purchase of $5,000 or more. You can get up to 1 million additional points per year.
  • 35% Airline Bonus: Use Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline, and you can get 35% of the points back, up to 500,000 bonus points per calendar year.
  • You can also receive 35% points back on all First and Business class flights, with all airlines available through American Express Travel.
  • You can enjoy access to The American Express Global Lounge Collection(SM) offering access to the most lounges across the globe, when compared with other U.S. credit card offerings. As of 11/2017
  • Terms Apply
  • See Rates & Fees

With the current offer, you can earn up to 75,000 American Express Membership Rewards points when you apply for the American Express Business Platinum card. You’ll earn 50,000 points after spending $10,000 within the first 3 months of opening the card. If you spend an additional $10,000 during that same timeframe, you’ll earn 25,000 points. This equals a total of 75,000 Membership Rewards.

The welcome bonus is only the beginning of the benefits from the American Express Business Platinum. You’ll earn 5x points when you book flights and prepaid hotels through the AmexTravel.com portal. You’ll also receive 50% more points every time you make any purchase of $5,000 or more.

If you have personal credit cards from American Express that also earn Membership Rewards points, the points earned from the Business Platinum card will automatically combine with your other points into one central bucket. You can maximize the value of the points you earn.

Travel Related Perks

Travelers love the airport lounge access that comes with the Business Platinum card. Not only will you receive a Priority Pass Select membership that provides entry to over 1200 airport lounges, you’ll also receive exclusive access to the American Express Centurion Lounges.

And when you redeem Membership Rewards for Business or First Class airfare or Economy on your selected airlines, you’ll receive a 35% rebate on the points used.

The primary cardholder will also receive a $200 travel credit each year that can be used towards baggage fees, upgrades, and other fees while flying. Couple that with the $100 Global Entry or TSA PreCheck reimbursement and automatic Hilton Honors Gold & Starwood Preferred Guest Gold status. The $450 annual fee seems to pale in comparison to all of the benefits you receive with the American Express Business Platinum Card from American Express.

Business Platinum Card From American Express

Chase Ink Business Preferred Overview

The Chase Ink Business Preferred℠ Credit Card is one of the latest iterations of the Chase Ink family of credit cards. The Chase Ink Business Preferred credit card earns valuable Chase Ultimate Rewards points. Plus, you can manually choose to combine them with points earned from the Chase Sapphire Reserve, Sapphire Preferred, or Freedom cards.

The current welcome bonus is 80,000 Ultimate Rewards points after spending $5,000 in the first 3 months. With points worth 1.25 cents each when redeemed for travel, that’s $1,000 in airfare, hotel rooms, or excursions that you can book.

Additional Perks

With the Chase Ink Business Preferred, you’ll earn 3x points on the first $150,000 you spend each year on travel, shipping purchases, internet, cable, phone services, and internet advertising. All other purchase categories will earn 1 point per $1 spent on the card.

One of the overlooked benefits of the Chase Ink Business Preferred is the cell phone protection you can use 3 times within a 12 month period. As long as you pay your phone bill with your credit card, you can get up to $600 per claim against covered theft or damage for you and your employees. Keep in mind that a $100 deductible per claim will apply.

If you or your employees travel frequently, this card is ideal to pay for rental cars. You will earn 3x points for travel expenses and have primary rental car insurance for most cars in the U.S.A. and abroad.

How They Are Similar

Both credit cards earn “flexible” bank points which can be redeemed for travel and gift cards. Or you can transfer the points to one of many hotel or airline travel partners points and miles loyalty programs.

There are no foreign transaction fees on either credit card. You can use them while traveling or when conducting international business.

You can combine the points you earn from each business credit card with the points you earn from your personal accounts. That way, you can earn your travel redemption that much quicker.

What Sets Them Apart

At first glance, the biggest difference is the annual fee. The Business Platinum Card annual fee is $450 compared to $95 for the Ink Business Preferred. Unlike some cards that waive the fee for the first year, both of these cards will charge you an annual fee on your first statement.

The Chase Ink Business Preferred offers travel perks and benefits that will make it attractive to businesses from any industry. Travelers will favor the Business Platinum Card for the lounge access, Fine Hotels & Resorts perks, and complimentary Boingo Wireless wi-fi access.

The Amex Business Platinum only provides bonus points when you book airfare through their travel portal. The Chase Ink card offers 3x points when you spend in 4 categories common for business expenses. These include travel, shipping, communications, and advertising.

If you make a lot of big-ticket purchases and redeem your points for airfare, you can earn about 2 points per $1 spent with the Amex Business Platinum.

Additional cards for employees are $175 each with the American Express Business Platinum card. There is no charge for additional employees with the Chase Ink Business Preferred.

Comparing the Business Platinum from American Express to the Chase Ink Business Preferred

American Express
Business Platinum
Chase Ink
Business Preferred
Annual Fee$450$95
Employee cards$175 each$0
Welcome bonus50,00080,000
Min spend$10,000$5,000
Secondary bonus25,000
Min spend$10,000
Bonus categories5x on flights and hotels booked through AmexTravel.com; 1.5 points on $5,000+ purchases3x on travel, shipping, cable, phone, online advertising
Foreign transaction feeNoneNone
Cell phone protectionNone3 claims/yr; max of $600 each; $100 deductible
Rental car insuranceSecondaryPrimary
Airline credit$200 annuallyNone
Lounge accessCenturion, Priority Pass, Delta Sky Club, AirSpace, EscapeNone
Global Entry / TSA PreCheck$100 once every 5 years;
all cards eligible
Hotel statusHilton and SPG GoldNone
WiFi AccessComplimentary Boingo WiFiNone

Which premium business card is right for your business?

If travel and lounge access is ideal, the Business Platinum from American Express could be a good fit.

However, for most businesses, the Chase Ink Business Preferred Credit Card is the card of choice. It offers a great opportunity to earn bonus points on categories you spend on every day. The points are extremely flexible when redeeming for travel, cash, or when transferring to a hotel or airline partner. The annual fee is significantly less than the Business Platinum Card. Plus, you can add as many employees as needed at no additional cost.

However, only you know which card is right for your business needs.

Link to Apply: The Business Platinum® Card from American Express

Link to Apply: Ink Business Preferred℠ Credit Card

Lee Huffman

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American Express Business Platinum vs Chase Ink Business Preferred
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