Chase Ink Business Preferred vs. American Express Business Platinum: Which is right for your business?
- Chase Ink Business Preferred vs. Amex Business Platinum welcome bonus
- Earning rewards on the Ink Business Preferred vs. Amex Platinum
- Redemption options for the Ink Business Preferred vs. Amex Business Platinum
- Ink Business Preferred vs. Amex Business Platinum rates and fees
- Ink Business Preferred vs. Amex Business Platinum benefits
- Should I get the Chase Ink Business Preferred or the Amex Business Platinum?
- Spend smarter with the Ramp Business Credit Card
Finding the right business credit card means matching its rewards and benefits to how your company spends. The Chase Ink Business Preferred Credit Card and the Business Platinum Card from American Express both earn rewards on select business purchases and travel, but they differ significantly in terms of annual fee and additional benefits.
We break down the key differences between the Chase Ink Business Preferred vs. the Amex Platinum for Business so you can choose the right card for your spending and rewards goals.
Chase Ink Business Preferred vs. Amex Business Platinum welcome bonus
When comparing the Amex Business Platinum vs. the Chase Ink Business Preferred, the most notable difference right off the bat is their welcome bonus offers:
Chase Ink Business Preferred | American Express Business Platinum |
|---|---|
Earn 90,000 bonus points after spending $8,000 on purchases in the first 3 months from account opening | Welcome bonus of 200,000 points after spending $20,000 on purchases in the first 3 months |
The Amex Business Platinum offers a higher welcome bonus, but it also requires you to spend 2.5x more than the Chase Ink Business in the first 3 months. Smaller or newer businesses may find the Chase bonus is easier to qualify for.
While welcome offers are an important consideration when choosing a card, it’s key to ensure the card’s rewards structure, rates, fees, and additional card benefits meet your needs.
Earning rewards on the Ink Business Preferred vs. Amex Platinum
Both cards offer impressive rewards, but how and where you earn points vary significantly. Your ideal match will depend on the specific categories you typically spend in and the spending cap you're comfortable with:
Chase Ink Business Preferred | American Express Business Platinum |
|---|---|
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If business travel is one of your key business expense categories, the Amex Business Platinum card offers more points per dollar. However, you’re limited to booking flights directly with airlines or through Amex’s travel portal to earn the 5x points on travel.
The Chase Ink Business Preferred earns a higher 3x points on select business categories. And despite the lower travel rewards rate, there aren’t any booking requirements to earn points.
If your business spends a lot, consider that the Chase card has a $150,000 annual spending cap on category purchases. In comparison, the Amex card features a $2 million annual spending cap on business purchases and has no cap on travel rewards.
Ultimately, make sure the eligible business categories offered by both cards fit your business spending needs. If your spending is less targeted and more sporadic, consider a flat-rate cashback business credit card that earns 1.5x or 2x cashback rewards on all purchases.
Redemption options for the Ink Business Preferred vs. Amex Business Platinum
With the Chase Ink Business Preferred, you can redeem points for:
- Cashback as a statement credit or direct deposit
- Gift cards
- Apple purchases through Chase Ultimate Rewards
- Travel through Chase Travel
Alternatively, you can transfer points to one of 14 Chase travel partners for potentially even greater value.
The Amex Business Platinum lets you redeem points for direct deposit, a statement credit to cover past purchases, gift cards, shopping with select brands, or travel. You can also transfer points to one of 17 Amex transfer partners.
Note that the Amex Business Platinum also gives you 35% of your points back when you use them to book an eligible flight through Amex Travel (up to 1 million points back per calendar year).
Transfer partner comparison
If you plan to transfer your points to a travel partner for potentially higher value, it’s worth looking at which airlines and hotels each card issuer partners with. Here’s a closer look at the travel transfer partners available through Chase Ultimate Rewards and American Express Membership Rewards:
Chase Ink Business Preferred | American Express Business Platinum | |
|---|---|---|
Airlines |
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Hotels |
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Ink Business Preferred vs. Amex Business Platinum rates and fees
Both cards offer very different annual fees based on their reward systems and target cardholder demographics. Here’s a look at the rates and fees of the Chase Ink vs. American Express Business Platinum:
Chase Ink Business Preferred | American Express Business Platinum | |
|---|---|---|
Annual fee | $95 | $695 |
Intro APR | None | None |
Standard APR | 20.24%–26.24% variable | 18.49%–29.24% variable with Pay Over Time |
Foreign transaction fees | None | None |
Though the American Express Business Platinum charges $600 more per year, it does offer a much wider range of benefits, which we cover in depth below.
Neither card charges foreign transaction fees on purchases made outside the US, and both have fairly similar variable APR ranges. As long as you pay your credit card bill on time, you won’t have to worry about incurring interest on your balance.
Ink Business Preferred vs. Amex Business Platinum benefits
Both credit cards are targeted toward business, offering additional benefits related to business travel, business tools, software subscriptions, and more. Here’s a breakdown of the benefits of the Chase Ink vs. the Amex Business Platinum:
Chase Ink Business Preferred benefits
By opting for the Chase Ink Business Preferred card, you get access to the following benefits:
Travel benefits
- Trip cancellation and interruption insurance: Get insured up to $5,000 per person and $10,000 per trip in the case of sickness, severe weather, and more
- Roadside assistance: Call the service provider for everything from a tow to a tire change; note that roadside service fees will be billed to your card
- Auto rental coverage: Get primary coverage for theft and collision damage when renting a car for business purposes, with reimbursement up to $60,000
Business-specific benefits
- Free employee cards: Get employee credit cards at no additional cost and set individual spending limits
Additional benefits
- Cell phone protection: Receive up to $1,000 per claim in protection against theft or damage for you and your employees when you pay the phone bill with your Chase Ink Business Preferred credit card
- Purchase protection: New purchases made with your card are covered for 120 days against damage or theft up to $10,000 per item
- Extend your warranty protection: Extend eligible U.S. warranties of three years or less by an additional year
American Express Business Platinum benefits
The Business Platinum Card from American Express more than makes up for its annual fee with additional benefits like:
Travel benefits
- Airport lounge access: Enjoy complimentary access to more than 1,400 airport lounges across 140 countries through the American Express Global Lounge Collection
- Airline fee credit: Get up to $200 in statement credits per year when your chosen airline charges incidental fees, such as checked bags and in-flight refreshments
- CLEAR Plus credit: Cover the cost of a CLEAR Plus Membership with up to $209 in statement credits per calendar year
- Global Entry or TSA PreCheck credit: Receive either a statement credit every 4 years after you apply for Global Entry ($120) or a statement credit every 4.5 years after you apply for a five-year membership for TSA PreCheck ($85)
- Complimentary elite status: Enjoy Hilton Honors Gold status and Marriott Bonvoy Gold Elite status without meeting any stay requirements, plus premium status for a number of car rental programs
- Fine Hotels and Resorts perks: Receive exclusive benefits at Amex partner hotels—such as daily breakfast for two and 4 p.m. checkout—averaging a total value of $550 in perks when you book through American Express Travel
- Hilton statement credit: Get up to $200 in statement credits per calendar year for eligible purchases in the Hilton portfolio
- Trip cancellation and interruption insurance: Purchase round-trip travel with a common carrier with your card to get covered for cancellations or interruptions
- Trip delay insurance: Get reimbursed for up to $500 per trip with a maximum of two claims per 12-month period if you experience a round-trip delay of more than 6 hours
- Car rental loss and damage insurance: Pay with your card to get secondary coverage against damage or theft for your rental car
- Baggage insurance: Get up to $3,000 in coverage for checked and carry-on baggage that’s lost, damaged, or stolen
Business-specific benefits
- Wireless credit: Get up to $120 back per year for purchases with U.S. wireless telephone service providers (up to $10 per month)
- Dell Technologies credit: Enjoy up to $150 in statement credits on U.S. purchases with Dell Technologies, plus an additional $1,000 credit after you spend $5,000 or more per calendar year
- Indeed credit: Get up to $360 back (up to $90 quarterly) for purchases with Indeed
- Adobe credit: Enroll and get up to $250 back after spending $600 or more per calendar year on U.S. purchases with Adobe
- Free employee cards: Get employee cards for no additional annual fee, with the ability to set spending limits
Additional benefits
- Cell phone protection: Get reimbursed for the lesser of your repair or replacement costs for your mobile following damage or theft for a maximum of $800 per claim (up to two claims per 12-month period)
- Extended warranty coverage: Enjoy an additional year of warranty coverage for warranties of 5 years or less on covered purchases in the U.S.
- Purchase protection: Get 90-day purchase protection for items purchased with your card
- Dispute Resolution: Amex can help you resolve fraudulent or incorrect charges on your credit card statement
Should I get the Chase Ink Business Preferred or the Amex Business Platinum?
If you’re a high spender or frequent traveler, the Amex Business Platinum should be your top pick. This card is designed for business owners who frequently travel and spend heavily across various business categories. While the $695 annual fee is steep, the value of the endless statement credits, elite status perks, and travel insurance can outweigh the cost.
On the other hand, if you want substantial everyday rewards value without paying for premium perks you won’t use, the Chase Ink Business Preferred is the best option. It’s ideal for small to midsize businesses with steady expenses across core operational categories and charges a reasonable $95 annual fee without sacrificing useful benefits.
Spend smarter with the Ramp Business Credit Card
While the Chase Ink Business Preferred and Amex Business Platinum offer valuable rewards for business spending, both cards incentivize spending to maximize points. If your goal is to save time and money to get the most out of every dollar, Ramp offers a different approach.
The Ramp Business Credit Card lets you set granular spend controls by vendor or category, automatically flag out-of-policy charges, and issue unlimited physical or virtual cards with custom limits for different teams. Plus, there’s no personal credit check or personal guarantee required for approval.
You’ll also gain access to over $350,000 in partner discounts across accounting tools, travel services, and more while saving an average of 5% a year across all spending. If you're looking for a small business card that prioritizes savings and control, Ramp may be a better fit than traditional points-based credit cards.
Ready to get started? Learn more with an interactive demo.
The information provided in this article has not been officially confirmed by Chase or American Express and is subject to change.
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