Once you know that you qualify for a business credit card, you are still faced with choosing which card is best. Two of TPG’s favorite business cards have elevated offers, and we’re going to help break down the options so you can choose which one is right for you.
The Business Platinum Card® from American Express is currently offering 150,000 Membership Rewards points after you spend $20,000 on eligible purchases on the card within the first three months of card membership. Based on TPG’s October 2024 valuations, this offer is worth up to $3,000.
The Amex Business Platinum has a $695 annual fee (see rates and fees) but offers several benefits that can offset the cost. The card’s annual statement credits from Dell, Indeed, Adobe, Clear and wireless telephone services easily outweigh the annual fee, but you also get a $120 Global Entry statement credit every four years (or up to an $85 TSA PreCheck statement credit every 4 1/2 years) and more. (Enrollment is required for select benefits.)
The unique thing about this offer is that you can choose to take the bonus as 90,000 Chase Ultimate Rewards points instead of cash back. According to TPG’s October 2024 valuations, those 90,000 Ultimate Rewards points are worth up to $1,845.
This card has no annual fee. It still offers benefits like purchase protection, auto rental collision protection and extended warranties on eligible items purchased with the card. You’ll also earn a straightforward 1.5% cash back on all purchases, which you can boost to an effective return of over 3% if you have another eligible Chase card and choose to convert your cash back to Ultimate Rewards points.
If you are a frequent traveler who often makes large business purchases, the Amex Business Platinum is the way to go. If you are just starting out or have another eligible Chase card that you can use to convert your cash back to Ultimate Rewards, thus increasing the value of your earnings, go with the Chase Ink Business Unlimited.
Whichever card might be best for you, just know that both of these elevated offers may not be around for long.
Here are a few more articles that can help you decide:
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