American Express is well known for its accommodations for entrepreneurs and business owners. Such accommodations extend to their lineup of business credit cards as well. Fortunately, all three cards are excellent tools for earning Membership Rewards (MR) points on common business expenses. This comparison post focuses on the three most lucrative American Express business credit cards: the Business Platinum Card, the Business Gold Card, and the Blue Business Plus Card.
Annual Fee
The Business Platinum Card is one of the most expensive charge cards in the industry with an annual fee of $595 (NOT waived the first year). Coming in second is the Business Gold Card, which has an annual fee of $295 (NOT waived the first year). And the winner is the Blue Business Plus Card, which has no annual fee.
Sign-Up Bonus
Moreover, all three options differ in the way of sign-up bonuses. This is because each card is meant for different types of businesses. Only two of them offer a public bonus. But all three have targeted bonus offers around the internet, which makes each one more attractive. However, all three cards are also subject to the Amex Once Per Lifetime Rule. That means you should go for the highest bonus you can afford.
Business Platinum Card
The Business Platinum Card offers a two-part sign-up bonus. First, you can earn 50,000 MR points after spending $10,000 within the first three months. And finally, you can earn another 25,000 MR points after spending another $10,000 within the same time period. That’s a total of 75,000 MR points for $20,000!
Unfortunately, this bonus is not as valuable as it might seem. The opportunity cost of spending $20,000 to earn this bonus is very high. In other words, you can earn hundreds of thousands of points and miles by spending $20,000 on sign-up bonuses on other cards.
Business Gold Card
One of those cards might be the Business Gold Card, which offers the most balanced bonus of the bunch. It is worth 35,000 MR points and it can be earned by spending $5,000 within the first three months.
The Business Gold Card’s bonus is nice because it offers a decent amount of points for just 25% of the Business Platinum Card’s minimum spend. But that does not mean it is a good bonus overall. There are other non-Amex cards that offer better sign-up bonuses.
Nonetheless, the Business Gold Card is the winner for most businesses when looking at these three cards. This is because the Business Platinum Card’s minimum spend is very high and the Blue Business Plus does not offer a public bonus.
Earning
All three cards have different earning structures by design. That’s nice because business owners can get and use multiple cards without any redundancies. However, American Express also wants you to pay them multiple annual fees.
None of the following earning structures include temporary bonus categories from the COVID-19 pandemic.
Business Platinum Card
The Business Platinum Card has the weakest earning structure of the bunch. But that doesn’t mean it’s not a solid option for your business. The Business Platinum Card earns 5x MR points for travel booked on amextravel.com. It also earns 1.5x points for all non-bonus purchases of at least $5,000. This is a nice boost for businesses with big expenses. And all non-bonus spend under $5,000 earns just one point per dollar.
Business Gold Card
Furthermore, the Business Gold Card earns 4x MR points on two categories of choice (for the first $150,000 in purchases). It also earns 2x points on the remaining categories and 1x points on all other purchases.
The categories to choose from are:
- Advertising (TV, radio, and online only)
- Airfare (booked directly with the airline)
- Select Computing Merchants
- Shipping
- US Gas Stations
- US Restaurants
This earning structure is more expansive than that of the Business Platinum Card. But it can only be lucrative if your business has heavy expenses within the categories.
Blue Business Plus
The Blue Business Plus Card has a much simpler earning structure than its counterparts. It earns 2x MR points for the first $50,000 in annual purchases. Thereafter, this multiplier halves to just one point. This card is the best for smaller businesses, entrepreneurs, and businesses with limited and varied expenses. It also works great as a complement to the Business Gold or Platinum Cards given its high flat earning rate.
Verdict
For most businesses, the best strategy is to get the Blue Business Plus and the Business Gold Card and use them in tandem. This will cover most business expenses and earn you a plethora of points. Therefore, this category is a tie between those two cards.
Burning
This is a point of indifference between the American Express business credit cards. All of them (including the Blue Business Plus) let cardholders transfer points to American Express’ transfer partners
Perks
Like its personal counterpart, the Business Platinum Card is the richest in the industry in the way of perks. There are so many perks that they required their own post. My favorite Business Platinum perks include:
- Hilton Honors and Marriott Bonvoy Gold Elite Status
- Centurion Lounge and Suite access
- Airport Lounge access (including Priority Pass, but not including Priority Pass restaurants)
- $200 in Dell Credits annually
- $200 in Airline Incidental Credits annually
These perks are the reason why the card has a nearly $600 annual fee. However, you can derive thousands in value from the perks if used often enough.
Conversely, the Business Gold Card does not have the perks of its “bigger sibling”, but it doesn’t leave you empty handed. Access to the Amex Hotel Collection, Trip Delay Insurance, and Extended Warranty are the highlights of this card’s perks.
Unfortunately, the Blue Business Plus Card does not have any substantial perks. This is the norm for American Express’ no annual fee cards, both business and personal.
The Business Platinum Card wins this category hands down. And the only card that can top it is the Amex Centurion (Black) Card, which is invitation-only.
Charge or Credit?
This is an important question for many business owners and entrepreneurs. It can also influence your decision.
The Business Platinum and Gold Cards are both charge cards. These cards have no interest rates, but they do require cardholders to pay in full each month. This is important because charge cards are not recommended for businesses with uneven cash flow. Businesses with receivables that aren’t coming in on time might also be better off with a regular credit card.
But that’s where the Blue Business Plus Card comes into play. It is a regular credit card and the best option for businesses with uneven cash flow. As a credit card, it has an interest rate and you do not have to pay in full each month. However, paying in full each month is strongly suggested to avoid interest that will eat at your rewards.
Final Draw
The three most popular and lucrative American Express business credit cards are great for different types of businesses. Each one has strengths and weaknesses that must be accounted for:
The Business Platinum Card’s perks are some of the best in the industry. But that’s why it has such a high annual fee. Its sign-up bonus can be a strength if you have high expenses. Otherwise, it’s a glaring weakness given the Once Per Lifetime Rule and significant opportunity cost. Plus, the Business Platinum Card is a poor earner unless your business spends heavily on flights from amextravel.com and large purchases.
Conversely, the Business Gold Card biggest strengths is its earning structure. It’s sign-up bonus is the best of this bunch. But there are plenty of non-Amex credit cards that offer more value for the same minimum spend amount.
Furthermore, the Blue Business Plus Card’s strengths are its generous earning structure, lack of annual fee, and its ability to transfer points to partners. It’s weaknesses are its lack of sign-up bonus and perks.
Apply Today:
- American Express Business Platinum Card
- American Express Business Gold Card
- American Express Blue Business Plus
