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Ink Business Preferred® Credit Card vs The Business Platinum Card® from American Express
This comparison aims to assist potential cardholders in deciding between the Ink Business Preferred® Credit Card and The Business Platinum Card® from American Express. Both cards offer unique advantages, tailored to different business needs and spending habits.
Card Overviews
Ink Business Preferred® Credit Card
The Ink Business Preferred® Credit Card is designed for small business owners looking to maximize rewards on their spending. It features a robust rewards structure, offering high points for travel and select business categories, making it an excellent choice for those who frequently travel for business.
The Business Platinum Card® from American Express
The Business Platinum Card® from American Express is tailored for high-spending business owners who seek premium travel perks and extensive benefits. With a higher annual fee, it offers exceptional rewards on travel bookings and exclusive access to airport lounges, appealing to frequent travelers.
Detailed Feature Comparison
| Feature | Ink Business Preferred® Credit Card | The Business Platinum Card® from American Express |
|---|---|---|
| Annual Fee | $95 | $695 |
| Welcome Bonus | Earn 90k bonus points after you spend $8,000 in the first 3 months | Earn 150,000 points + $500 statement credit after specific spending |
| Rewards Structure | 3 points per $1 on travel and select business categories; 1 point on others | 5X points for flights and hotels booked through AmexTravel.com; 1X on others |
| Foreign Transaction Fee | None | None |
| Other Fees | None specified | None specified |
| Additional Benefits | Purchase Protection, points worth 25% more when redeemed for travel | Airport lounge access, $200 airline fee credit, and more |
Rewards Highlights
- Earn 5X Membership Rewards® points for flights, prepaid hotels, and short-term rentals and prepaid flight + hotel packages booked at AmexTravel.com.
- 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, on up to $2 million per Card Account per calendar year. Purchases eligible for multiple additional point bonuses will only receive the highest eligible bonus.
- Earn 1X points on other eligible purchases.
Pros and Cons
Ink Business Preferred® Credit Card
- Pros:
- Lower annual fee compared to premium cards.
- Generous rewards on travel and business categories.
- No foreign transaction fees.
- Flexible redemption options for points.
- Cons:
- Limited premium benefits compared to higher-end cards.
- Lower welcome bonus than some competitors.
The Business Platinum Card® from American Express
- Pros:
- Extensive travel perks including lounge access.
- High welcome bonus and statement credits for travel-related expenses.
- Strong rewards on travel bookings.
- Cons:
- High annual fee may not justify the benefits for all users.
- Complex rewards structure that may require careful planning.
Who Should Consider Which Card?
- The Ink Business Preferred® Credit Card is ideal for small business owners who want to earn solid rewards on travel and business expenses while managing a lower annual fee.
- The Business Platinum Card® from American Express is better suited for frequent travelers who are willing to pay a higher annual fee in exchange for premium travel benefits and a high rewards rate on travel bookings.
Conclusion
In summary, both the Ink Business Preferred® Credit Card and The Business Platinum Card® from American Express offer valuable features tailored to different spending patterns and business needs. Consider your individual requirements and financial goals to choose the card that best suits your lifestyle.