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The Points Guy believes that credit cards can transform lives, helping you leverage everyday spending for cash back or travel experiences that might otherwise be out of reach. That's why we publish a variety of editorial content and card comparisons: to help you find a great card to turn your goals into reality.
Our site may earn compensation when a customer clicks on a link, when an application is approved, or when an account is opened with our partners, and this may impact how or where these products appear. While we don't cover all available credit cards, our editorial team creates and maintains all of the analysis of these cards, and our content is not influenced nor subject to review by any credit card company, bank or partner prior to (or after) publication. Please view our advertising policy and product review methodology for more information.
Guides
9 business credit cards that can replace your Amex Business Platinum
Stella is a full-time writer with expertise in credit cards, points and miles, and all things travel. She is a journalism graduate of the University of North Carolina, Chapel Hill and previously worked as a copywriter at JetBlue Airways and as a credit cards writer at LendingTree.
November 8, 2024 • 13 min read
The cards we feature here are from partners who compensate us when you are approved through our site, and this may impact how or where these products appear. We don't cover all available credit cards, but our analysis, reviews, and opinions are entirely from our editorial team. Terms apply to the offers listed on this page. Please view our advertising policy and product review methodology for more information.Editorial disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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Quick summary
The article reviews alternatives for small business owners considering canceling a premium business card with a high annual cost.
It compares nine business cards, highlighting options that offer strong travel benefits, business-centric statement credits or flexible rewards.
Some cards focus on maximizing points within specific loyalty programs, while others offer straightforward rewards structures or lower annual costs.
The guide addresses both those seeking to retain travel perks and those prioritizing simplicity or reduced expenses.
What to consider
Certain statement credits and benefits may require enrollment or have expiration dates, such as credits ending June 30, 2025.
Eligibility for welcome offers can be limited by previous card ownership or specific issuer rules.
Some travel-related perks, such as lounge access or elite status, may be lost or replaced with different benefits when switching cards.
What you'll miss from the article
A detailed comparison of nine business card alternatives, including their standout features, loyalty program access and which types of business owners each may best suit.
Generated by AI with support from our editorial team.
Update: Some offers mentioned below are no longer available. View the current offers here.
It's no secret that The Business Platinum Card® from American Express is the most expensive small business card on the market. This card carries a hefty $695 annual fee (see rates and fees).
With this card's high annual cost, cardholders may wonder if it’s time to cancel it for good.
The card features more than $600 in annual business-centered statement credits (enrollment required):
Up to $360 in Indeed statement credits
Up to $150 in Adobe statement credits*
Up to $120 in U.S. wireless telephone services statement credit for purchases made directly with a U.S. provider, broken down to $10 monthly.
*These credits end June 30,2025.
If you’re able to make use of some (or all) of these credits, it’s likely worth keeping the Amex Business Platinum in your wallet, given that the other ongoing benefits can help you offset the annual fee.
But if you’ve decided that it’s time to throw in the towel, here are nine business credit cards that can serve as excellent replacements.
American Express® Business Gold Card
Annual fee: $375 (see rates and fees)
Welcome offer: Find out your offer and see if you're eligible for as high as 200,000 bonus points after spending $15,000 on purchases in the first three months of card membership. Welcome offers vary, and you may not be eligible for an offer. Based on TPG's October 2024 valuations, this welcome offer is worth up to $4,000.
THE POINTS GUY
For a fraction of the Business Platinum's annual fee, the Amex Business Gold presents strong earning rates. You’ll earn 4 Membership Rewards points per dollar on the two categories where your business spends the most, on up to the first $150,000 in combined purchases, then 1 point per dollar:
U.S. purchases on online, TV and radio advertising
U.S. purchases at electronic goods retailers and on software & cloud system providers
U.S. monthly wireless telephone service charges made directly from a wireless telephone service provider
If your business spends up to the $150,000 threshold, you’re looking at earning 600,000 Membership Rewards points annually — worth a tremendous $12,000 based on TPG’s October 2024 valuations. Best of all, you'll still be able to transfer your points to Amex’s 21 airline and hotel transfer partners.
While you could downgrade your Amex Business Platinum to the Amex Business Gold, you may want to consider applying for the Amex Business Gold outright, although due to Amex's once-in-a-lifetime rule, you may not be eligible for a signup bonus.
The Blue Business® Plus Credit Card from American Express
Annual fee: $0 (see rates and fees)
Welcome offer: Earn 15,000 Membership Rewards points after spending $3,000 in purchases on your card in your first three months of card membership. Based on TPG's October 2024 valuations, this welcome offer is worth $300.
THE POINTS GUY
Why you should consider it: Perhaps you’ve decided it’s time to stop paying an annual fee altogether. Or maybe you’re tired of keeping up with the dizzying array of annual statement credits offered on the Amex Business Platinum.
If either situation applies to you, you can downgrade your Amex Business Platinum to the Blue Business Plus card, which will keep all of your hard-earned Membership Rewards points active for no annual fee.
Simplicity is your best friend with the Blue Business Plus. You’ll earn 2 Membership Rewards points per dollar on the first $50,000 spent, then 1 point per dollar afterward. No matter the purchase, you’re always earning double the points up to that $50,000 spending threshold. If you’re a business owner who doesn’t have an exorbitant number of operating expenses, the Blue Business Plus is a fantastic option to retain earning and redeeming possibilities in the Membership Rewards program.
Welcome offer: Earn 100,000 bonus points after spending $8,000 on eligible purchases in the first three months of account opening. Based on TPG's October 2024 valuations, this offer is worth $2,050.
THE POINTS GUY
Why you should consider it: Amex’s biggest competitor in the credit card rewards program space is Chase Ultimate Rewards. If you’re looking to cancel your Amex Business Platinum but don’t know what to apply for, look no further than the Ink Business Preferred.
For just $95 per year, you’ll earn 3 points per dollar spent on shipping, internet, cable and phone services, advertising purchases and travel (up to the first $150,000 spent each account anniversary year, then 1 point per dollar). The Chase Ultimate Rewards program offers a wide range of transfer partners, including 11 airline and three hotel loyalty programs.
Apply here: Ink Business Preferred® Credit Card (see rates and fees)
Ink Business Premier® Credit Card
Annual fee: $95
Welcome offer: Earn $1,000 after spending $10,000 on purchases in the first three months of account opening.
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THE POINTS GUY Why you should consider it: In late 2021, Chase launched its first premium business credit card: the Ink Business Premier. However, unlike the Ink Business Preferred, the Ink Business Premier is a business cash-back card. While you can redeem your rewards on the Ultimate Rewards portal for travel, gift cards, cash back and more, you won’t be able to transfer your points to Chase’s transfer partners.
Still, this card is a good fit for those with significant business expenses, as there’s uncapped potential for earning rewards. You’ll earn 5% total cash back on travel purchased through Chase Travel℠, 2.5% total cash back on purchases of $5,000 or greater and 2% cash back on all other eligible purchases.
Apply here: Ink Business Premier (see rates and fees)
Capital One Spark Miles for Business
Annual fee: $0 in the first year, then $95
Welcome offer: The Capital One Spark Miles for Business isn't currently available to new applicants. So, you can't apply for this card and earn a welcome bonus.
THE POINTS GUY
Why you should consider it: If travel rewards are still top of mind, you’ll want to consider the Capital One Spark Miles for Business (no longer available). It’s surprisingly affordable, with a $95 annual fee that’s even waived the first year.
Cardholders will earn a flat 2 miles per dollar on all purchases, with no limit to how many rewards you can earn. Since TPG's October 2024 valuations peg Capital One miles at 1.85 cents each, that’s like getting a 3.7% return on all of your purchases. Better yet, Capital One has stepped up its portfolio of transfer partners, and you’ll be able to move your miles to 15-plus airline and hotel loyalty programs.
The information for the Spark Miles for Business has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Capital One Venture X Business
Annual fee: $395
Welcome offer: Earn 150,000 bonus miles after spending $30,000 on purchases in the first three months from account opening.
Based on TPG's October 2024 valuations, this welcome offer is worth $2,775.
The Venture X Business also comes with an annual $300 credit for travel booked through the Capital One Business Travel. This credit can be easier to use than the myriad of credits offered by the Amex Business Platinum. Cardholders also receive 10,000 bonus miles every account anniversary and up to a $120 Global Entry/TSA PreCheck® credit.
Additionally, businesses will enjoy earning 10 miles per dollar on hotels and rental cars booked through Capital One Business Travel, 5 miles per dollar on flights and vacation rentals purchased through Capital One Business Travel and 2 miles per dollar on all other purchases. Based on TPG's October 2024 valuations, this equates to at least a 3.7% return on spend for businesses.
Delta SkyMiles® Reserve Business American Express Card
Annual fee: Earn 80,000 bonus miles after spending $12,000 on purchases in the first six months of card membership. $650 (see rates and fees)
Welcome offer: Based on TPG's April 2026 valuations, this welcome offer is worth $960.
THE POINTS GUY
Why you should consider it: One of the best benefits of the Amex Business Platinum is its comprehensive lounge benefits. By canceling (or downgrading) the card, you’ll effectively lose your lounge privileges.
But if you’re a frequent Delta flyer, you may want to consider opening the Delta SkyMiles Reserve Business card instead. The annual fee is $650. Starting Feb. 1, 2025, you'll receive 15 visits to the Delta Sky Clubon same-day Delta flights, with the ability to unlock unlimited if you spend $75,000 on your card in a calendar year.
Other benefits include an annual round-trip companion certificate upon account renewal — which can also compensate for the annual fee — and complimentary upgrades on Delta flights upon availability. You'll also get a number of annual statement credits: up to $120 ride-hailing statement credit for purchases in the U.S., up to $240 annual Resy statement credit for purchases in the U.S. and up to $250 Delta Stays statement credit. Some of these benefits may require enrollment.
Earning rates are also solid for big businesses, with 3 miles per dollar on Delta purchases, 1.5 miles per dollar after you spend $150,000 on the card in a calendar year and 1 mile per dollar on all other eligible purchases. Delta’s elite status will quickly become in reach, too, with the card's Medallion Qualification Dollars (MDQs) boost and headstart.
Welcome bonus: Earn three free night awards after spending $6,000 on purchases in the first six months of card membership. Plus, earn an additional two free night awards after spending an additional $3,000 on purchases ($9,000 in total) in the first six months of card membership. Each night is valued at up to 50,000 points; certain hotels have resort fees. Based on TPG's valuations, this welcome offer is worth up to $1,750.
THE POINTS GUY
Why it's worth considering: The Amex Business Platinum comes with automatic Marriott Bonvoy Gold Elite status, which gets you benefits like space-available enhanced room upgrades, a 25% points bonus on Marriott stays and more.
Other benefits include a free night certificate every card renewal month and the ability to earn 6 points per dollar on Marriott hotels, 4 points per dollar on purchases at restaurants worldwide, U.S. gas stations, U.S. shipping providers and wireless telephone services directly from U.S. providers; and 2 points per dollar on all other eligible purchases.
By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
