Are you a business owner in search of a premium travel credit card? Look no further, because we’re about to compare two top contenders: Chase Ink Business Preferred and Amex Platinum. Both cards offer attractive welcome bonuses and valuable perks, but Chase Ink Business Preferred comes out on top due to its business benefits and low annual fee.
How the cards stack up
Let’s take a closer look at what each card has to offer:
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Chase Ink Business Preferred:
- Earn 3x points on travel, online advertising, shipping, phone, cable, and internet services (capped at $150,000 worth of purchases)
- Earn 1x points on all other purchases
- 1:1 points transfer to popular airlines and hotel travel loyalty reward programs
- Get a 25% bonus when you book travel through Chase Ultimate Rewards
- Additional perks include auto rental collision damage waiver, emergency roadside assistance, purchase and extended warranty protections, cell phone protections, and trip cancellation and interruption insurance
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Amex Platinum:
- Earn 5x points on prepaid hotels and airfare if you book through AmexTravel.com
- Earn 1.5x points on qualifying purchases with construction material providers, cloud and software system providers, and electronic goods retailers
- Earn 1.5x points on select purchases of $5,000 or more (up to $2 million worth of purchases)
- Earn 1x points on all other eligible purchases
- 1:1 points transfer to popular airlines and hotel travel loyalty reward programs
- Additional perks include annual statement credits, 35% points back when you book flights with Amex Travel (up to 1,000,000 points back each year), airline fee statement credit, CLEAR Plus statement credit, access to airport lounges, Marriott BonvoyTM Gold Elite Status, Hilton Honors Gold Status, premium status with rental car programs, and trip cancellation, delay, and interruption insurance
Welcome bonus
Chase Ink Business Preferred comes with a welcome bonus of 100,000 points, while Amex Platinum offers a welcome bonus of 120,000 points. However, it’s important to note that the value of these points differs. With Chase Ink Business Preferred, the 100,000 points are worth $1,250 in travel credit when redeemed through Chase Ultimate Rewards. On the other hand, Amex Platinum’s 120,000 points can be worth up to $1,200 in gift cards from select retailers, $720 in statement credit, $840 in Amazon.com purchases, or $1,200 on airfare booked through AmexTravel.com.
Rewards
Amex Platinum takes the lead in the rewards category. With this card, you can earn 1.5x points on up to $4 million worth of purchases. In contrast, Chase Ink Business Preferred offers 3x points on only $150,000 worth of purchases.
Annual fee
While Amex Platinum offers more travel perks, its steep annual fee may be a concern for some business owners. On the other hand, Chase Ink Business Preferred has a lower annual fee, which can be easily offset with bonus points.
APR and foreign transaction fee
Both cards do not charge a foreign transaction fee. In terms of APR, Chase Ink Business Preferred has a capped range of [reg_apr,reg_apr_type], while Amex Platinum has a wider APR range. Your choice between the two will depend on whether you expect to have a higher or lower APR.
Additional perks
Amex Platinum offers more travel perks, making it the winner in this category. These perks include a 35% airline bonus, annual airline fee statement credit, access to airport lounges, Marriott BonvoyTM Gold Elite Status, Hilton Honors Gold Status, premium status with rental car programs, and trip cancellation, delay, and interruption insurance. The statement credits alone, valued at over $1,000 collectively, give Amex Platinum an edge over Chase Ink Business Preferred.
Which card earns the most? That depends
If you travel often or have a lot of business expenses, Amex Platinum offers the most significant earning potential. However, if you have everyday business expenditures, Chase Ink Business Preferred is the better choice. It offers 3x points on travel, online advertising, shipping, phone, cable, and internet services, and 1x points on all other purchases. Additionally, if your business spends more than $300,000 per year on electronics, construction supplies, and bulk orders, you’ll earn more with Chase Ink Business Preferred.
Our recommendations
We recommend Chase Ink Business Preferred for small businesses with a lower overhead. This card has a low annual fee, excellent earning potential on everyday business expenses and travel, and the flexibility to transfer points to other popular travel reward loyalty programs.
However, if your business has a lot of overhead or you frequently travel for business, Amex Platinum is the clear choice. The added travel perks, including airport lounge access and annual statement credits, make it worth the higher annual fee.
In the end, the best card for you will depend on your company’s spending patterns and specific needs. Carefully evaluate the rewards programs and perks of each card to make an informed decision.
For more information on business credit cards, visit Personal Finances Blog.
Frequently asked questions (FAQs)
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How do membership rewards work?
Amex Membership Rewards points can be used for travel bookings, shopping, gift cards, statement credits, flight upgrades, or donations to support causes. Points are also transferable to participating hotel and airline loyalty programs. -
How do Ultimate Rewards points work?
Chase Ultimate Rewards points can be redeemed for cash back, gift cards, or at the Apple Ultimate Rewards Store. If you choose to redeem for travel, the points are worth 25% more. Points can also be transferred to participating frequent travel programs. -
Which is the best business credit card?
The best business credit card depends on your specific needs. Amex Platinum is ideal for frequent travelers or businesses with significant overhead. On the other hand, small businesses with lower overhead and less frequent travel may find more value in Chase Ink Business Preferred.