Ink Business Preferred vs. Amex Business Platinum: Practicality vs. luxury

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Though the Ink Business Preferred® Credit Card and The Business Platinum Card® from American Express are both TPG favorites for small businesses, they are very different.

For all intents and purposes, the Amex Business Platinum is more of a membership card for business travelers who can take advantage of its perks and benefits. The Ink Business Preferred, on the other hand, is geared toward those looking to maximize earnings on a wider range of business expenses.

There’s definitely value to be had from adding both cards to your wallet. However, those looking for just one card should prioritize applying for the one better suited to their specific spending habits and preferences.

Let’s look at the details and benefits of each to see which you should add to your wallet.

Ink Business Preferred vs. Amex Business Platinum welcome offer

These are the bonuses new applicants can earn on these cards:

With the Ink Business Preferred, you’ll get 100,000 Ultimate Rewards points after spending $8,000 on eligible purchases in the first three months from account opening.

Meanwhile, with the Amex Business Platinum, you’ll get 150,000 Membership Rewards points after spending $20,000 on eligible purchases in the first three months of card membership.

Amex and Chase points are worth 2 cents and 2.05 cents apiece, respectively, according to TPG’s valuations, meaning the Ink Business Preferred offer is worth about $2,050 and the Amex Business Platinum offer is worth $3,000.

Winner: Amex Business Platinum. Its current bonus is worth nearly $1,000 more than that of the Ink Business Preferred.

Ink Business Preferred vs. Amex Business Platinum benefits

Here are all the benefits you’ll enjoy on these two cards:

Global Entry/TSA PreCheck application fee credit (up to $100)

Up to $400 annually for Dell purchases (through Dec. 31)

Up to $360 annually for Indeed purchases (through Dec. 31)

Up to $189 in statement credits annually for a Clear membership

Up to $150 annually for subscription services from Adobe (through Dec. 31)

Up to $120 annually for U.S. wireless phone plans

Enrollment is required for select benefitsPurchase and travel protectionsPurchase protection

Trip delay and cancellation insurance

Travel accident insurance

Extended warranty

Lost baggage insurance

Primary car rental insuranceTrip delay insurance*

Trip cancellation and interruption insurance*

Cellphone protection*

Purchase protection**

Baggage insurance plan**

Extended warranty**

Return protection^

Secondary car rental insurance^^

Premium Global Assist Hotline#

Enrollment is required for select benefitsLounge accessNoneCenturion Lounges

Priority Pass lounges

Delta Sky Club lounges (when flying Delta that day)

Airspace lounges

Escape lounges

Plaza Premium lounges

Lufthansa lounges

Enrollment is required for select benefitsBusiness toolsExpense tracker

Account manager access

Bookkeeping integration

Fraud alerts

No-cost employee cardsNo preset spending limit

Pay Over Time option

Quickbooks integration

Vendor Pay by Bill.com

Employee cards with various benefits and annual fees (see rates and fees)

Account alerts

Year-end summary

Enrollment is required for select benefitsOther benefitsCellphone protection

Access to Chase OffersGold status with Marriott and Hilton

Access to Amex Fine Hotels + Resorts

Elite status with Avis, Hertz and National rental car programs

Access to Amex Offers

Enrollment is required for select benefitsForeign transaction feesNoneNone (see rates and fees)Annual fee$95$695 (see rates and fees)

*Eligibility and benefit levels vary by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by New Hampshire Insurance Company, an AIG Company. **Eligibility and benefit levels vary by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company. ^Eligibility and benefit levels vary by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. ^^Eligibility and benefit level varies by card. Not all vehicle types or rentals are covered, and geographic restrictions apply. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company. Coverage is offered through American Express Travel Related Services Company, Inc. #Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. If approved and coordinated by Premium Global Assist Hotline, emergency medical transportation assistance may be provided at no cost. In any other circumstance, cardmembers are responsible for the costs charged by third-party service providers.

Both the personal and business versions of the Amex Platinum have arguably the best perks of any travel card on the market. Between access to thousands of lounges worldwide, elite status with two top hotel brands and business tools to help you manage your business expenses come tax season, the Amex Business Platinum is an excellent value-add to any business traveler’s wallet.

One thing that the Ink Business Preferred offers is primary rental car insurance coverage. Meanwhile, the Amex Business Platinum only offers secondary coverage*. This means you must file a claim with your primary insurance provider before Amex covers any other costs. While this perk isn’t necessary if you rarely drive rental cars, domestic business travelers who rent frequently should consider choosing the card with superior rental car coverage.

At the end of the day, the Amex Business Platinum takes the cake regarding valuable benefits — especially if you’re traveling a lot throughout the year for work. While the annual fee is significantly higher, utilizing most of the Amex benefits will easily offset that cost. If you maximize the annual airline fee credit and Dell statement credit, your out-of-pocket cost for the card is already only $195 each year. Spending $3,900 annually through Amex Travel would accrue enough points to make up for the rest of the annual fee.

Winner: The Amex Business Platinum is hard to beat when it comes to travel perks and benefits.

Earning points on the Ink Business Preferred vs. Amex Business Platinum

1 point per dollar on other purchases5 Membership Rewards points per dollar on prepaid hotel and airfare booked through American Express Travel (including Amex Amex Fine Hotels + Resorts)

1.5 points per dollar on eligible purchases in select business categories and eligible purchases of $5,000 or more (on up to $2 million of these purchases annually, then 1 point per dollar)

1 point per dollar on other purchasesEarning limitsUp to $150,000 in combined purchases each account anniversary year

Then, 1 point per dollar spent on all other purchases5-point categories: no limit

1.5-point categories: up to $2 million annually

While the Amex Business Platinum has a higher multiplier, the Ink Business Preferred has a much more attractive rewards structure for business expenses.

The Amex Business Platinum only earns 5 points per dollar spent on travel booked through Amex, so it’s not the card to use for most of your spending. In contrast, the Ink Business Preferred offers a slightly lower 3 points per dollar spent on a wider range of categories, including travel. Plus, Chase defines travel broadly, including booking directly with airlines and hotels, trips booked through the Ultimate Rewards program and ride-hailing services.

While the Amex categories are very limited, if you’re spending $90,000 or more on hotels and airfare each year (or $7,500 a month) for your business, you’ll end up out-earning the Ink Business Preferred‘s bonus category potential.

Winner: For most business owners, the Ink Business Preferred offers a better rewards structure.

Redeeming points on the Ink Business Preferred vs. Amex Business Platinum

You can redeem your Chase points at a fixed rate of 1.25 cents apiece for travel purchases like flights, hotels and rental cars that you book through Chase Travel℠. Or, if you have the Chase Sapphire Reserve®, you could transfer your points to that card and redeem them at a fixed rate of 1.5 cents apiece toward travel.

Even though you’ll get less than TPG’s 2.05-cent valuation of Ultimate Rewards points with this redemption option, it’s still a valuable way to use your points.

With the Amex Business Platinum, you can also redeem your points for merchant gift cards or to cover charges on your bill. However, these options significantly devalue your rewards to 1 cent per point or less, so we don’t recommend using your points this way.

Winner: Tie. Both cards offer decent redemption options but are much more valuable if you leverage their transfer partners.

Transferring points on the Ink Business Preferred vs. Amex Business Platinum

Both cards are part of valuable rewards programs that offer a lot of redemption flexibility. Both offer an incentive for booking award travel through their portals and have a solid list of transfer partners. However, I would say that you can get more value out of the Amex Membership Rewards program because of two primary features: a superior transfer partner program and a Pay with Points rebate.

Chase and Amex each have solid lists of transfer partners that include airlines and hotels, but Amex soars above the rest with 21 partners to choose from, including Delta, Emirates, Hilton and Marriott. Amex also frequently runs transfer bonus promotions. Chase, in comparison, has only 14 transfer partners and seldom offers transfer bonuses.

Of course, if Chase offers certain partners that are more attractive to you personally — like if you’re a loyal United flyer like TPG writer Ryan Wilcox rather than a Delta fan — that may be a reason to put Chase’s program over Amex. However, objectively speaking, Amex has a more beneficial program for most users.

If you hold the Amex Business Platinum, you get better value on redemptions almost every time.

Winner: The Amex Business Platinum can’t be beaten with its transfer partner program and Pay with Points rebate.

Should I get the Ink Business Preferred or Amex Business Platinum?

The Ink Business Preferred and Amex Business Platinum are very different cards that serve different purposes. One is built for earning, while the other is built for upgrading your travel experience. If you’re deciding between the two, you’ll want to decide what benefits mean more to you and which card will better complement your spending habits and lifestyle.

Bottom line

Given their differences, it’s worth examining both cards closely before deciding which to apply for and use. For many people, it might make sense to hold both cards.

In either case, you’ll want to ensure you understand the credit card application rules and restrictions before applying.

For more information on these cards, read our full reviews of the Ink Business Preferred and Amex Business Platinum.

Apply here: Ink Business Preferred Credit Card Apply here: The Business Platinum Card from American Express

For rates and fees of the Amex Business Platinum card, click here.