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A top business credit card will not only offer you rewards for items you frequently purchase, but will also come with perks that add more value for your business. You want to be able to get the most out of the points you earn. Fortunately, both the Chase Ink Business Preferred® Credit Card and the American Express® Business Gold Card have plenty to offer. They also have exciting bonus offers for new cardholders.
- American Express® Business Gold Card: 70,000 points after spending $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership (terms apply)
- Ink Business Preferred® Credit Card: 100,000 bonus points after spending $15,000 in the first three months of card ownership
Chase Ink Business Preferred vs Amex Business Gold Card
These two cards are very similar to one another in many ways, each making an excellent choice for a company card. However, there are some notable differences between them, meaning that one card is likely a better choice for you.
Let’s take a look at both the Chase Ink Business Preferred Credit Card and Business Gold Card from American Express and see how they compare.
Your business probably spends a fair amount of money each year. Between office supplies, phone and internet services, and even marketing and advertising, some serious reoccurring fees can be charged to your credit card.
That’s why comparing the rewards-earning potential for these two cards is priority number one. Ensuring that the card you use is the one that will earn you the most back is key. When you’re a small business owner, every penny counts.
|Ink Business Preferred® Credit Card||American Express® Business Gold Card|
|Points||Earn 3x points on your first $150,000 in combined purchases from the following four categories:||Earn 4x points on your first $150,000 in combined purchases from the 2 select categories where your business spent the most each month*:|
|1x Points||Everything else||Everything Else|
What Does It Mean?
The Chase Ink Business Preferred® Credit Card takes a very simple approach. You’ll earn 3x points back on your first $150,000 in combined purchases between travel, shipping expenses, internet/cable/phone services, and advertising through social media sites or search engines. Everything else you buy? You’ll earn 1 point per dollar.
The American Express® Business Gold Card is a bit more versatile – but also more confusing. The card offers six total categories: airfare, shipping purchases, gas stations, computer hardware/software/cloud services, US restaurants, and advertising through online/tv/radio. Of those, you can choose two to be your big earners. In those two choice categories, you’ll earn 4x points on the first $150,000 spent*. Once you surpass that limit, you’ll earn 1 point per dollar. In each of the remaining four categories, you’ll earn 1x point. And if you buy something not in one of those six categories? You’ll still earn 1 point per dollar.
Both issuers allow you to transfer your points to a number of valuable partners for redemption, too. With Chase, point transfers are at a rate of 1:1. Plus, they offer transfer partner options (like United Airlines and Hyatt).
With American Express points, you also have many partner options through the Membership Rewards program. You’ll find that your points are worth more or less depending on the partner chosen. However, you can occasionally find bonus promotions, making your points even more lucrative with certain airlines or hotel chains.
The easiest way to earn points on your new card is to snag a welcome bonus. Additionally, both the Ink Business Preferred Credit Card and Business Gold offer a lucrative welcome offer.
If you sign up for the Chase Ink Business Preferred® Credit Card, you’ll be able to earn 100,000 bonus points. All you have to do is spend $15,000 in the first three months of card ownership, and the 100k points will be credited to your account.
New American Express® Business Gold Card cardholders can earn 70,000 points after spending $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.*
Another big consideration when signing up for a new card (business or personal) is how much that card will cost you each year. The best rewards cards often come with an annual fee, though there are some that don’t. However, this is usually offset easily by the points earned throughout the year.
The Ink Business Preferred® Credit Card comes with an annual fee of $95. This is not waived the first year, so you’ll be paying it from day one. If you want additional credit cards for authorized users, such as your spouse or employees, you’re welcome to request such at no additional charge. The Ink Business Preferred also allows you to set spending limits on these employee cards, ensuring that large charges aren’t run up without your knowledge or permission.
With the Business Gold card, you’re looking at an annual fee of $295 (See Rates and Fees). While this is higher than the Ink Business Preferred, you may request additional cards for employees with a no annual fee option.
As with the Ink Business Preferred, the AMEX Business Gold also allows you to set spending limits on employee cards.
There are a number of excellent perks that come along with credit cards these days, and both the Ink Business Preferred and AMEX Business Gold are no exception. Some of these benefits will give you added peace of mind and others will keep more money in your pocket. Additionally, all of them will come to you free of charge with your card membership.
Here’s a look at the added features of each card:
Cell Phone Coverage
- Chase Ink Preferred: Up to $600 per claim, a limit of 3 claims per year. Subject to a $100 deductible per claim.
- Amex Business Gold: n/a
Rental Car Coverage
- Chase Ink Business Preferred® Credit Card: primary coverage
- American Express® Business Gold Card: secondary coverage
- Ink Business Preferred: One additional year on top of the manufacturer’s warranty
- Amex Business Gold: Two additional years if the original manufacturer’s warranty is between two years and five years
Foreign Transaction Fees
- Ink Business Preferred® Credit Card: No foreign transaction fees
- American Express® Business Gold Card: No foreign transaction fees
Lost Baggage Coverage
- Chase Ink Preferred: Up to $3,000 per person with a $500 limit per person for jewelry, cameras, and other electronics
- Amex Business Gold: Up to $1,250 in coverage per carry-on and $500 per checked bag
Trip Delay or Cancellation
- Ink Business Preferred: $500 per ticket for a travel delay of 12+ hours and $5,000 per trip for cancellations
- Business Gold: n/a
Travel Accident Insurance
- Ink Business Preferred® Credit Card: $500,000 common carrier loss of life coverage
- American Express® Business Gold Card: $100,000 accidental death and dismemberment
Biggest Difference Between Chase Ink Business Preferred and AMEX Business Gold
The biggest difference between the two cards is actually the type of card they are. The Ink Business Preferred® Credit Card, for example, is a traditional credit card. This means that it works like any other credit card in your wallet. You’re given a credit limit, you can spend up to that limit each month, and you can choose to pay off the balance each billing cycle or carry it over from month to month.
The American Express® Business Gold Card comes with a flexible payment option to help manage cash flow on purchases of $100 or more (terms apply). This means that you don’t have a limit to the card, so you can use it to make very large purchases (great for unexpected business expenses!). However, you cannot carry a balance over from month to month without being subject to serious fees. You’ll need to pay it in full each month.
It’s always wise to pay off your credit card’s statement balance in full to avoid paying interest.
Which Is Best – Chase Ink Business Preferred or AMEX Business Gold?
In conclusion, want to determine which of these two cards will best suit your business? Then you need to take a look at your spending habits. If 80% of your business’s expenses involve a category like fuel or computer hardware/software, the 4x points earning potential of the AMEX Business Gold can’t be beaten. However, if your monthly spending is a little bit of everything, the Ink Business Preferred’s rewards layout will best serve you.
Additionally, if you know that you have a big purchase that will take your business a few months to pay off, you’d be better off with the Ink Business Preferred® Credit Card. That way, you can carry over a balance if absolutely necessary.
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For rates and fees of the American Express® Business Gold Card, 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.