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Key takeaways
- Both the Ink Business Preferred® Credit Card and the American Express® Business Gold Card can benefit businesses that require significant travel because they have high rewards potential and don’t charge foreign transaction fees.
- A low annual fee and generous welcome offer make the Ink Business Preferred a decent choice for businesses that spend highly on travel, shipping, internet and advertising with social media and search engines.
- The American Express Business Gold is among the best for small businesses because its welcome bonus is similar to that of the Ink Business Preferred card, but it offers more generous rewards.
Business owners need as many tools as possible to manage their spending and business needs; the right business credit card could be one of them. Whether you need a tool to help with cash flow, purchase inventory or cover travel expenses, the right credit card for your business is no different than choosing one for your personal finances.
Your decision should come down to which one works the best for your organization in terms of the card’s rewards rates, redemption options or the cost of an annual fee. Business owners considering the Ink Business Preferred® Credit Card by Chase or the American Express® Business Gold Card should primarily consider how often they travel for business and the size of the annual fee they’re willing to pay.
Main details
|
Cards |
Ink Business Preferred® Credit Card | American Express® Business Gold Card |
|
Welcome bonus |
90,000 bonus points after spending $8,000 on purchases in the first 3 months from account opening |
100,000 Membership Rewards points after spending $15,000 on eligible purchases within the first 3 months of card membership |
|
Rewards rate |
|
|
|
Intro APR |
N/A | 0% on purchases for 6 months from the date of account opening |
|
Annual fee |
$95 |
$375 |
Ink Business Preferred vs. Amex Business Gold highlights
If your business needs a credit card for travel expenses, then both cards reward you with a robust earning structure for travel-related purchases and higher redemption values when using rewards for travel. In fact, either of these cards compares well with many of the top travel cards.
Welcome bonus winner
-
Both cards include impressive welcome offers, but the Ink Business Preferred comes out on top because its spending requirement is just a little over half of what you’d need to spend with the Amex Business Gold to earn a points pool of comparable value.
The Ink Business Preferred bonus is worth $1,125 in travel booked through the Chase Ultimate Rewards portal (thanks to the 25 percent bonus on travel redemptions through the portal offered by the card. If you transfer your points to a travel partner this bonus is worth up to $1,800 based on Bankrate’s points and miles valuations when redeemed with a high-value Chase travel partner.
Although Amex Business Gold cardholders can earn a welcome bonus worth about $2,000 when transferred to a high-value partner, you’ll need to spend much more money to earn this bonus.
Rewards rate winner
-
The Amex Business Gold edges out the Ink Business Preferred for business owners whose spending falls under two of six categories, including directly purchased airfare; select U.S. advertising purchases; U.S. gas stations; U.S. restaurants; U.S. shipping costs; and U.S. computer software, hardware and cloud solutions directly purchased from eligible providers.
The rewards rate for the Ink Business Preferred is worth noting too, since cardholders earn boosted points on travel and select business categories on up to $150,000 in combined purchases each account anniversary year, but the Amex Business Gold has a higher rewards rate in more categories.
Annual Fee winner
-
The Ink Business Preferred is the clear winner in the annual fee category. Its $95 annual fee is significantly less than the $375 annual fee for the Amex Business Gold.
Foreign transaction fee winner
-
Neither card charges foreign transaction fees, which makes both ideal for business owners or employees who travel internationally or make purchases in foreign currency.
Which card earns the most?
If you found a high-value transfer partner, you could squeeze a lot of value out of either of these cards, making them both worthwhile additions to your wallet. Whichever one earns more depends entirely on where you spend your money, though. Consider a spending example of $150,000 annually split evenly amongst two top business categories (telecommunication charges and advertising) and travel. Here’s how both cards compare:
|
Card name |
Points earned from telecommunications (internet, cable and phone) |
Points earned from advertising |
Points earned from travel |
Total points earned |
|
Amex Business Gold |
200,000 |
200,000 |
150,000 |
550,000 |
|
Ink Business Preferred |
150,000 |
150,000 |
150,000 |
450,000 |
According to this spending example, which doesn’t even maximize the Amex Business Gold’s spending cap in its highest rewards tier, the Amex Business Gold earns more points than the Ink Business Preferred. A difference of 100,000 points translates to roughly $1,000 in value, which is substantial enough to justify the Amex Business Gold’s higher annual fee.
Why should you get the Ink Business Preferred?
The low annual fee and generous welcome offer are enough for the Ink Business Preferred to grab any business owner’s attention, but what everyone might not see is the boosted redemption value from the Chase Ultimate Rewards program.
Additional benefits
If you have multiple employees, you may appreciate the additional employee credit cards at no extra cost, and each card can have its own spending limit. The card offers travel and insurance perks too, including trip cancellation insurance, an auto rental collision damage waiver, extended warranty coverage and purchase protection.
Redemption options
The redemption options are where the Ink Business Preferred shines. Booking travel through the Chase Ultimate rewards program earns you 25 percent more in value and may increase even more by transferring to a Chase transfer partner. You can also redeem for a statement credit or direct deposit cash back, a gift card from more than 150 select merchants or by shopping with Shop Through Chase. You can even redeem through Amazon and PayPal as a checkout option.
Recommended credit score
A good or excellent credit score rating, ranging from 670 to 850, is needed to apply for the Ink Business Preferred.
Why should you get the Amex Business Gold?
The Amex Business Gold is a rewarding credit card for business owners that includes a handful of valuable perks, but its main benefit is it high rewards rates and welcome offer. It’s a great pick if you want to make the most of credit card rewards and perks while making select business and travel purchases.
Additional benefits
The Amex Business Gold may be worth it thanks to its hotel perks, travel insurance and purchase protections, including a $100 experience credit with The Hotel Collection through American Express Travel when you book two consecutive nights (terms apply).
Redemption options
Membership Rewards points can be directly redeemed in the American Express travel portal, which is also where you can get the highest redemption value for your points. Redeem your points for flights, hotels, travel services and more or transfer to a partner airline or hotel. For a reduction in point value, you have the option to purchase gift cards, select a statement credit, use at merchant checkouts or book rental cars through Amex Travel.
Recommended credit score
Similar to the Ink Business Preferred, to apply for the Amex Business Gold, it’s recommended you have a good or excellent credit score of 670 to 850.
The bottom line
Before you apply for either the Ink Business Preferred or Amex Business Gold, be sure to evaluate your highest spending categories. These two top small business cards offer plentiful rewards, but both best benefit businesses that spend substantial amounts on travel and eligible business purchases each month.
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