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Christine ran her own business developing and managing insurance and financial services. This stoked a passion for points and miles and she now has over 2 dozen credit cards and creates in-depth, deta...
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The value of having a business credit card is obvious. These cards can serve as a means to keep business and personal expenses separate, to keep track of expenses in real-time, and to offer annual reports that make it easier to gather needed information at tax time.
But over and above the practical aspects of using a business credit are the potential reward-earning possibilities. Rewards earned on a business credit card can help improve the bottom line of your business by offsetting business expenses such as travel.
Making the decision to secure a business credit card was probably easy, but now you may need to decide which card to select.
That’s why we’re focusing on a top Chase business credit card and an Amex Business credit card, and putting them head to head to make a fair comparison.
We’ll look at every aspect of the cards, including earning, redeeming, statement credits, benefits, and more.
Yes, the benefits of having a business credit card may be obvious, but it will also be clear as to which of these popular cards is a winner for your operation after you review our article today.
Let’s get started with our comparison of The Business Platinum Card® from American Express versus the Ink Business Preferred® Credit Card.
Amex Business Platinum Card vs. Ink Business Preferred Card — Overview
Welcome bonuses are often used by the credit card issuer as an incentive to sign up for a card. Bonuses vary in amount but they represent an opportunity to receive a lump sum of rewards upfront to jump-start your rewards account.
Bonuses can also be quite lucrative. You can receive hundreds, even thousands, of dollars in value when redeeming your welcome bonus points for travel.
These bonuses are deposited into your account after meeting minimum spending requirements that are required within the first 3 months after card approval.
Here is a snapshot of the current welcome bonuses for the 2 cards we’re comparing today:
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
This card is ideal for business travelers who enjoy luxury travel and are looking for a card loaded with benefits!
This card is ideal for business travelers who enjoy luxury travel and are looking for a card loaded with benefits!
Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
120,000 points
$2,640
$695
19.49% - 27.49% Variable
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
When you factor in the large number of perks that the card offers like the best airport lounge access at over 1,400 lounges, along with tons of annual credits, it’s easy to see why this card can is a top option for frequent traveling business owners.
5x Membership Rewards points per $1 on flights and prepaid hotels at Amex Travel
Up to $200 annual airline fee credit on your selected qualifying airline
Statement credits on select purchases with your card
35% airline bonus when using Pay With Points (up to 1,000,000 bonus points per calendar year)
Access to over 1,400 worldwide airport lounges as part of the American Express Global Lounge Collection
Global Entry or TSA PreCheck application fee credit
Get 50% more Membership Rewards points (1.5 points per $1) on eligible purchases in key business categories, as well as on purchases of $5,000 or more (cap applies)
Airline fee credit does not cover airfare, only incidentals like checked bags
Welcome Offer: Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
5X Membership Rewards® points on flights and prepaid hotels on AmexTravel.com, and 1X points for each dollar you spend on eligible purchases.
Earn 1.5X points (that’s an extra half point per dollar) on each eligible purchase at US construction material, hardware suppliers, electronic goods retailers, and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
Unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
$200 Airline Fee Credit: Get up to $200 in statement credits per calendar year for incidental fees charged by your one selected, qualifying airline to your Card.
$189 CLEAR® Plus Credit: Use your card and get up to $189 in statement credits per calendar year on your CLEAR® Plus Membership (subject to auto-renewal) when you use your Business Platinum Card®.
The American Express Global Lounge Collection® can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market as of 03/2023.
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
The Ink Business Preferred card is hard to beat, with a huge welcome bonus offer and 3x points per $1 on the first $150,000 in so many business categories.
The Ink Business Preferred card is hard to beat, with a huge welcome bonus offer and 3x points per $1 on the first $150,000 in so many business categories.
Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,000 cash-back or $1,250 toward travel when redeemed through Chase Ultimate Rewards.
100,000 points
$2,000
$95
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)
The Ink Business Preferred® Credit Card is a powerhouse for earning lots of points from your business purchases, especially for business owners that spend regularly on ads.
Plus the card offers flexible redemption options, including access to Chase airline and hotel transfer partners where you can achieve outsized value.
Business owners will also love the protections the card provides like excellent cell phone insurance, rental car insurance, purchase protection, and more.
Pros
3x Ultimate Rewards points per $1 on up to $150,000 in combined purchases on internet, cable and phone services, shipping expenses, travel, and ads purchased with search engines or social media sites
Cell phone protection
Purchase protection
Trip cancellation and interruption insurance
Rental car insurance
Extended warranty coverage
Cons
No elite travel benefits like airport lounge access
Earn 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®
Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
Round-the-clock monitoring for unusual credit card purchases
With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
You’ll find extraordinary value with either type of rewards points, especially when redeeming for travel.
Comparing Earning Potential
When we compare earning potential, it’s clear that the Amex Business Platinum card rewards heavily on travel purchases while the Ink Business Preferred card adds additional bonus earning categories for other business-related purchases.
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Card
Earning
Amex Business Platinum Card
5x points on flights and prepaid hotels booked through Amex Travel
1.5x points on eligible purchases at U.S. construction material and hardware suppliers, electronic goods retailers and software and cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else (up to $2 million in purchases per calendar year)
1x points on all other purchases
Ink Business Preferred Card
5x points on Lyft through March 31, 2025
3x points on travel, internet/cable/phone, shipping, and advertising purchased through social media and search engines (maximum $150,000 in purchases per year)
1x points on all other purchases
When selecting a business credit card, it’s important to identify your largest purchases and apply the earning rates to determine which card gives you the highest return for your mix of spending.
Bottom Line: It’s important to estimate your largest expenses before selecting a business credit card. Your mix of business spending determines which card will ultimately deliver the highest earnings for your business.
Comparing Redemption Options
Redeem your Membership Rewards or Ultimate Rewards for premium cabin experiences. Image Credit: Cherag Dubash
Both Membership Rewards points and Ultimate Rewards offer flexible redemption options and have similar processes for doing so.
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Redemption Option
Amex Business Platinum Card
Ink Business Preferred Card
Redeem for Travel
Redeem for 1 cent per point on Amex Travel
Receive a 35% rebate on points for flights booked with your preselected airline when booked through Amex Travel, up to 1,00,000 bonus points back per year
20 airline/hotel partners, most with a 1:1 transfer ratio; a small fee applies to transfers to domestic airlines
14 airline/hotel partners, 1:1 transfer ratio
Other Redemption Options
Statement credits, gift cards, Amazon, Uber, Ticketmaster, and other shopping partners
Statement credits, gift cards, Amazon, Apple, and Chase Experiences
Each rewards program has a proprietary travel portal that offers incentives for redeeming points via these sites.
Redeeming points earned on either card via the associated travel portal results in fixed values of 1 cent for Membership Rewards and 1.25 cents for Ultimate Rewards. The Amex Business Platinum card also rebates 35% of your points back when booking flights on your selected qualifying airline through Amex Travel.
It is possible to receive even greater value, however, by transferring Membership Rewards or Ultimate Rewards to travel partners.
Bottom Line: Each card offers the best potential value for your points when the points are redeemed for travel, either through the card’s proprietary travel portal or by transferring points to airline and hotel travel partners.
Airport Lounge Access
The Amex Business Platinum card is the clear winner for lounge access as the Ink Business Preferred card doesn’t offer any complimentary lounge access benefit.
The Amex Business Platinum card provides access to over 1,400 lounges worldwide including the prestigious Centurion Lounges. The value of lounge access alone justifies this card’s annual fee.
Enjoy complimentary access to the following lounge networks:
Enjoy hotel and car rental program benefits with your business credit card. Image Credit: Hertz
Each of the cards we’re comparing offers benefits with select resort and hotel programs. In addition, the Amex Business Platinum card offers hotel elite status.
You’ll also receive member discounts, vehicle upgrades, and other benefits with each card’s rental car program perks.
Hotel Program Benefits — Amex Business Platinum Card
The Ink Business Preferred card offers discounts with several car rental companies including Dollar, Hertz, Audi on demand (formerly known as Silvercar), and more through Visa Signature benefits.
Bottom Line: While both cards provide benefits at resort and hotel program collection properties, the Amex Business Platinum card provides elite status with Hilton and Marriott. The Amex Business Platinum card also offers broader rental car program benefits.
Statement Credits and Additional Benefits
The Amex Business Platinum card offers several additional benefits that translate into economic value if your business can use them.
The Ink Business Preferred card does not offer any statement credits.
Both cards offer the additional business-related benefits of annual statements, zero liability and fraud protection, employee cards, and card management to track employee spending.
Travel Benefits and Protections
Business credit cards can offer benefits that save you money and inconvenience. Image Credit: Mikadun via Shutterstock
Travel benefits and protections can save you money and assist you in getting help when something goes wrong during your travels.
Here’s how the 2 cards compare when we look at key travel coverages:
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Benefit
Amex Business Platinum Card
Ink Business Preferred Card
Car Rental Loss and Damage Insurance
Secondary coverage comes with the card; primary coverage can be purchased for $12.25 to $24.95 per qualifying rental
Primary coverage when renting for business or outside of the U.S.; secondary coverage for personal rentals in the U.S.
Lost, Damaged, and Delayed Baggage Coverage
Up to $3,000 for carry-on, $2,000 for checked for stolen or lost baggage; no coverage for delayed baggage
Up to $3,000 for carry-on, $2,000 for checked for stolen or lost baggage; up to $500 for baggage delays of more than 6 hours
Roadside Assistance Service
N/A
Flat fee for each service call
Travel Accident Insurance
N/A
Up to $500,000 for loss of life or dismemberment
Emergency Evacuation
Included in Premium Global Assist
N/A
Concierge and Emergency Travel Assistance
Included in Premium Global Assist
Complimentary 24/7 assistance
Note that this is not an all-encompassing list of benefits and protections, just key coverages for comparison purposes. You can view full descriptions and the terms and conditions for each coverage in each card’s guide to benefits.
Bottom Line: The Ink Business Preferred card shines with primary rental car coverage, baggage delay coverage, travel accident insurance, and more, which makes it quite attractive when compared to the Amex Business Platinum card.
Shopping Benefits and Protections
Here’s how shopping benefits and protections compare with the Amex Business Platinum card and the Ink Business Preferred card:
Purchase Protection — Both cards offer 120 days of theft or damage protection of $10,000 per claim and $50,000 per calendar year.
Return Protection — If an eligible item you purchase on the Amex Business Platinum card declines in price within 90 days of the purchase date, you could receive up to $300 per item and $1,000 per year. The Ink Business Preferred card does not have return protection.
Extended Warranty — The Amex Business Platinum card extends the U.S. manufacturer’s warranty for eligible items for 2 additional years on warranties less than 5 years. The Ink Business Preferred card extends for 1 year on warranties of 3 years or less.
No Preset Spending Limit — The Amex Business Platinum card has no preset spending limit, which makes it much easier to make large transactions. The Ink Business Preferred card has a traditional credit limit.
Annual Fees and Adding Additional Users
Annual Fees
While annual fees can change, you’ll find that the Amex Business Platinum card has a much higher fee than the Ink Business Preferred card. The difference in annual fees, however, also parallels the difference in benefits.
As you read through the benefits of each card, keep track of the ones that will provide value to your business. In the end, the value of the benefits you will use should exceed the cost of the annual fee, regardless of the card you choose.
Adding Additional Users
Adding authorized users to your card can increase your rewards earning and grant card benefits to the additional user.
The Amex Business Platinum card charges $350 per additional authorized user (rates & fees). The additional person receives their own card, complimentary worldwide lounge access, hotel/car rental elite status and benefits, Global Entry/TSA PreCheck fee credit, and more.
The Ink Business Preferred card does not charge a fee for adding an authorized user. The additional user can share in the card benefits provided, including cell phone coverage when their bill is paid for with the card.
Final Thoughts
Premium travel rewards cards come with high annual fees but they also come with premium benefits. If you’ll use the associated benefits, you can receive value beyond the cost of the annual fee.
And while the Ink Business Preferred card does not have all those luxury travel perks, it does come with a much lower annual fee. It also has strong earning power, flexible redemption options, and a nice chase ink business bonus.
The best card for you will be the one that matches your tolerance for an annual fee, provides value in the form of usable benefits, and aligns with your business spending patterns in order to maximize earning potential.
For the car rental collision damage coverage benefit of The Business Platinum Card® from American Express, eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car rental loss or damage coverage is offered through American Express Travel Related Services Company, Inc. For the trip cancellation and interruption insurance and trip delay insurance benefits of The Business Platinum Card® from American Express, eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company. For the baggage insurance plan benefit of The Business Platinum Card® from American Express, eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. For the extended warranty and purchase protection benefit of The Business Platinum Card® from American Express, eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. For the cell phone protection benefit of The Business Platinum Card® from American Express, eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company. For the return protection benefit of The Business Platinum Card® from American Express, eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for more details. For the Premium Global Assist Hotline benefit of The Business Platinum Card® from American Express, eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for more details. If approved and coordinated by Premium Global Assist Hotline, emergency medical transportation assistance may be provided at no cost. In any other circumstance, card members may be responsible for the costs charged by third-party service providers.
For rates and fees of The Business Platinum Card® from American Express, click here.
Featured Image Credit: Upgraded Points
Frequently Asked Questions
Which is the best business credit card?
The best business credit card for you will depend on whether you want to pay an annual fee. The card should also align with the categories of your largest business expenses and earn the most rewards on those purchases.
The best business card will also offer benefits that your business can use so that enough value is generated to offset the annual fee.
All of these factors will determine which is the best business card for your situation.
How do Membership Rewards points work?
Membership Rewards points are earned on several American Express cards. How many points you earn per dollar spent will depend on the category of your spending.
Each month, you’ll receive a statement showing how many points you have earned. The points will then be deposited into your Membership Rewards account and are ready to redeem.
The value of each Membership Rewards point varies depending on how you redeem your points but you can count on 0.5 to 1 cent per point, or greater if you are transferring points to airline partners.
Membership Rewards points do not expire as long as you have a Membership Rewards-earning credit card open. If you are planning to close your card, you should transfer your points to airline/hotel partners (or otherwise redeem them) before closing the card.
How do Ultimate Rewards points work?
Ultimate Rewards are earned on specific Chase credit cards. The amount of points you earn varies by the type of purchase — some categories offer higher earnings.
When your statement closes each month, your Ultimate Rewards points are deposited into your Ultimate Rewards account and can be redeemed immediately.
Ultimate Rewards points have a value that depends on how you redeem them. With Ink Business Preferred, for example, you can redeem the points for statement credits at 1 cent each or for travel on the Ultimate Rewards travel portal for 1.25 cents each.
You can also transfer Ultimate Rewards to travel partners for potentially even greater value.
Ultimate Rewards points do not expire as long as your Ultimate Rewards earning credit card is open. You should redeem or transfer your points prior to closing your card.
Ultimate Rewards points can be transferred between Ultimate Rewards earning cards, however, redemption values can differ so be sure to check before making any transfer.
Can I have more than 1 business credit card?
Yes, you can have more than 1 business credit card and it may benefit your business by doing so.
You can use a combination of business credit cards to maximize the earnings on all of your expenses, provide all the benefits you desire, or allow you to add the number of authorized users you need to.
Christine ran her own business developing and managing insurance and financial services. This stoked a passion for points and miles and she now has over 2 dozen credit cards and creates in-depth, detailed content for UP.
This bonus value is an estimated valuation calculated by UP after analyzing redemption options, transfer partners, award availability and how much UP would pay to buy these points.
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