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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 cards available. Two of the most popular premium small business credit cards are The Business Platinum Card® from American Express vs Ink Business Preferred® Credit Card. Note that both cards have a signup bonus of 100,000 points. To earn the bonus for either card, new cardholders must spend $15,000 in the first 3 months of account opening/Card Membership.
Let’s discuss the pros and cons of each and share which card is right for your business.
100,000 Point Bonus: Ink Business Preferred® Credit Card
100,000 Point Bonus: Business Platinum Card® from American Express
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 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 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 its 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.
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®, Chase Sapphire Preferred®, Chase Freedom Flex℠, or Chase Freedom Unlimited®, all some of the best Chase credit cards.
The current bonus is 100,000 Ultimate Rewards points after spending $15,000 in the first 3 months. With points worth 1.25 cents each when redeemed for travel, that’s $1,250 in airfare, hotel rooms, or excursions that you can book.
With the Ink Business Preferred® Credit Card, 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 Credit Card 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.
Cardholders can redeem points for cash back, gift cards, travel, and more (points are worth 25% more when redeemed for travel through Chase Ultimate Rewards). Points don’t expire as long as the account is open. Additionally, cardholders get fraud protection and zero liability. Purchase protection covers new purchases for 120 days against damage or theft, up to $10,000 per claim and $50,000 per account.
The Business Platinum Card from American Express Overview
The Business Platinum Card from American Express was one of the original premium 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.
New The Business Platinum Card® from American Express cardholders have the opportunity to earn 100,000 Membership Rewards as part of the welcome offer. To earn the 100,000 bonus points, they need to spend $15,000 on eligible purchases on their card in the first 3 months of Card Membership.
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, up to 1 million additional points annually.
If you have personal cards from American Express that also earn Membership Rewards points, the points earned from The Business Platinum Card from American Express will automatically combine with your other points into one central bucket. You can maximize the value of the points you earn.
A business perk you may appreciate is a Dell Small Business statement credit. Cardholders can get up to $200 in annual Dell statement credits (cardholders get up to $100 semi-annually for U.S. Dell purchases – terms apply).
Cardholders can also take advantage of the Pay Over Time Option, a flexible payment option to help manage cash for purchases of $100 or more. Terms and conditions apply.
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, but you’ll also receive exclusive access to the American Express Centurion Lounges. Enrollment may be required.
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 (in the form of statement credits—enrollment required). Couple that with the $100 Global Entry or TSA PreCheck reimbursement and automatic Hilton Honors Gold & Marriott Bonvoy Gold status. The $595 annual fee (See Rates & Fees) seems to pale in comparison to all of the benefits you receive with the American Express Business Platinum Card from American Express.
How They Are Similar
Both 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 card. You can use them while traveling or when conducting international business.
You can combine the points you earn from each business card with the points you earn from your personal accounts. That way, you can earn your travel redemption that much quicker.
Both cards also require you to spend $15,000 in the first 3 months to earn its 100k bonus.
What Sets Them Apart
At first glance, the biggest difference is the annual fee. The Business Platinum Card® from American Express annual fee is $595 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® Credit Card 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 Business Platinum Card® from American Express. 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
|Business Platinum Card® from American Express||Ink Business Preferred® Credit Card|
|Employee cards||$175 each||$0|
|Min spend||$15,000 in first 3 months||$15,000 in first 3 months|
|Secondary bonus||5x points on eligible purchases in 5 select business categories, up to 80,000 bonus points per category, also within the first 3 months of card membership||–|
|Bonus categories||5x on flights and prepaid hotels booked through AmexTravel.com; 1.5 points on $5,000+ purchases, up to 1 million annually||3x on travel, shipping, cable, phone, online advertising|
|Foreign transaction fee||None||None|
|Cell phone protection||None||3 claims/yr; max of $600 each; $100 deductible|
|Rental car insurance||Secondary||Primary|
|Airline credit||$200 annually (in the form of statement credits—enrollment required)||None|
|Lounge access||Centurion, Priority Pass, Delta Sky Club, AirSpace, Escape (enrollment may be required)||None|
|Global Entry / TSA PreCheck||$100 once every 5 years;|
all cards eligible
|Hotel status||Hilton and Marriott Bonvoy Gold||None|
|WiFi Access||Complimentary Boingo WiFi||None|
Which premium business card is right for your business?
If travel and lounge access are ideal, the Business Platinum Card® 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 the 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.
100,000 Point Bonus: Ink Business Preferred® Credit Card
100,000 Point Bonus: Business Platinum Card® from American Express
- Is the Amex Platinum Card Worth the Annual Fee?
- Chase Sapphire Preferred and Ink Business Preferred: Can You Have Both?
- 6 Travel Credit Cards With Good Signup Bonuses
For rates and fees of The Business Platinum Card® from American Express, please click here.
Chase Sapphire Preferred® Card
- Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases within your first year of account opening.
- Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
- With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.
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Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.