dcsimg
CardRatings is here for you during these unprecedented economic times resulting from the Covid-19 crisis. Check back regularly for new resources and let us know if you have specific questions related to your credit cards and credit by emailing editor@cardratings.com.

A small business credit card comes out with a healthy welcome bonus offer – but should you take it?

By , CardRatings Senior Manager

Our credit card articles, reviews and ratings maintain strict editorial integrity; however we may be compensated when you click on or are approved for offers (terms apply) from our partners. How we make money.

American Express has announced a welcome offer bonus for The Business Platinum Card® from American Express: 75,000 Membership Rewards® points! Those points could be worth more than $750 depending on how you choose to redeem them (more on that below). American Express is a CardRatings advertiser. Terms apply. 

Earn 75,000 Membership Rewards® points after you spend $15,000 on qualifying purchases within your first three months of card membership. There’s no doubt it’s an eye-popping offer – worth more than $750 if you redeem those points for certain flights through Amex Travel – but does that mean you should apply for the card? Terms apply. 

In a word, yes. That’s because, while the 75,000 bonus Membership Rewards® points will get you off to a great rewards start, that bonus offer really just sweetens the pot for a card that already brings numerous perks, features and rewards-earning opportunities to the table for the right small business owner.

First things first: Who is the right small business owner? Well, this card is designed for business owners who travel regularly, desire to save time and money and appreciate making all those trips in comfort.

How does The Business Platinum Card® from American Express save you money and time?

With The Business Platinum Card® from American Express, you’ll receive up to $200 each year in statement credit to cover incidental airline fees – think checked bag fees and in-flight purchases – on your pre-selected airline. That perk alone goes a long way toward offsetting the card’s $595 annual fee (Terms apply; See Rates and Fees).

Additionally, every four years, you’re eligible for a statement credit to cover your Global Entry or TSA Pre✓® application fee of $100 or $85, respectively. Even better, each card on the account is eligible to receive this credit, so your employees can also receive a fee credit for their applications. Terms apply. 

Now let’s talk about the rewards. Membership Rewards® points are lucrative and flexible and that welcome bonus certainly warrants a second look on its own. New cardholders earn 75,000 Membership Rewards® after spending $15,000 in the first three months of card membership, but what are those points actually worth? Terms apply. 

The best value for Membership Rewards® points comes when you redeem them for flights through AmexTravel.com where they’re worth $.01 each. Furthermore, if you Pay with Points for a first or business class flight with a selected qualifying airline through American Express Travel, you’ll receive 35% of your points back to use on a future redemption; or redeem your points for any class ticket with your pre-selected airline through AmexTravel.com to receive that 35% back (up to 500,000 points back each year). Doing the math, that means the welcome bonus alone is worth more than $750 in flights. Terms apply. 

On an ongoing basis, you’ll earn five Membership Rewards® points for every $1 spent on flights and prepaid hotels booked through AmexTravel.com, 1.5 points for every purchase of $5,000 or more (up to 1 million extra points each year) and one point per $1 for all your other purchases. Terms apply. 

It’s easy to see how those points will add up quickly and how your business could realize some serious savings doing nothing more than meeting your everyday business purchase and travel needs.

And, by the way, save yourself some time by delegating tasks such as booking business lunches, securing concert tickets to entertain clients or arranging for ground transportation to your Business Platinum Card Concierge. That’s what they’re there for.

Lastly, in case it doesn’t go without saying, there are no foreign transaction fees with this card.

What are the luxury features and perks of The Business Platinum Card® from American Express?

When it comes to getting where you’re going, you know the airport can be the worst part of the trip. Good thing cardholders of The Business Platinum Card® from American Express enjoy complimentary access to more than 1,100 airport lounges in 120 countries around the globe through the American Express Global Lounge CollectionSM. Say goodbye to the hassle and noise of the airport terminal. Terms apply. 

The comfort continues if you book a stay through Fine Hotels & Resorts, through which you’ll enjoy complimentary perks like room upgrades, free breakfast for two, late checkout and more.

If you’re a regular guest at Starwood or Hilton properties, you’ll also appreciate the automatic Gold status cardholders enjoy with both the Hilton Honors and Marriott Bonvoy™ programs.

Overall, The Business Platinum Card® from American Express is an excellent choice when it comes to small business credit cards. That said, it’s not for everyone, but don’t let that discourage you. There are plenty of small business cards out there that offer excellent rewards earning opportunities as well as additional perks and features for a lower annual fee.

Here are a few additional options:

American Express® Business Gold Card

(This card is not currently available on CardRatings)

Welcome Offer: New cardholders 35,000 Membership Rewards® points after you spend $5,000 on eligible purchases within the first three months of opening an account.

Rewards: Get 4x Membership Rewards® points on the two select categories where your business spends the most each month. (4X points apply to the first $150,000 in combined purchases from these 2 categories each calendar year.) There is also a flexible payment option that can help manage cash flow on purchases of $100 or more. Access expense management tools: Connect to Quickbooks, access the American Express® Business App, receive a Year-End Summary, and more. Plus, get 25% points back after you use points for all or part of an eligible flight booked with Amex Travel, up to 250,000 points back per calendar year.

Annual Fee: $295. Terms apply. See Rates and Fees


Ink Business Preferred® Credit Card

Welcome Offer: Receive 100,000 Ultimate Rewards® bonus points after spending $15,000 in the first three months.

Rewards: Earn three points per $1 on up to $150,000 spent annually on travel expenses; shipping costs; Internet, cable and phone services; and advertising purchases made with social media sites and search engines. Earn one point per $1 after the cap and on all your other purchases. Redeem your points for travel through Chase Ultimate Rewards® and they're worth 25 percent more. That means the welcome bonus is worth as much as $1,250 when redeemed for travel.

Annual Fee: $95

The information related to this credit card has been collected by CardRatings and has not been reviewed or provided by the issuer of the card.


Ink Business Cash℠ Credit Card

(This card is not currently available on CardRatings)

Welcome Offer: Earn $500 in bonus cash back after spending $3,000 in the first three months.

Rewards: Earn 5 percent cash back at office supply stores and on internet, cable and phone services for the first 25,000 spend in combined purchases each account anniversary year. Earn 2 percent back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year and earn 1 percent back on all your other purchases.

Annual Fee: $0

The information related to this credit card has been collected by CardRatings and has not been reviewed or provided by the issuer of the card.


Capital One® Spark® Cash for Business

Capital One® Spark® Cash for Business

Learn More

(This card is not currently available on CardRatings)

Welcome Offer: Earn a $500 cash bonus  when you spend $4,500 in the first three months of opening an account.

Rewards: Earn a flat 2 percent cash back on all your purchases. There are no categories or spending caps to keep up with, so this is a simple rewards option for busy business owners.

Annual Fee: $0 intro for first year; $95 after that

 


Capital One® Spark® Miles for Business

Capital One® Spark® Miles for Business

Learn More

(This card is not currently available on CardRatings)

Welcome Offer: Earn 50,000 bonus miles when you spend $4,500 in the first three months of your account opening.

Rewards: Earn a flat 2 miles per $1 spent on all your purchases, plus 5 miles on hotel and rental car bookings made through Capital One Travel™. Once again, there are no categories or spending caps to keep up with, so this is a simple credit card option for busy business owners who are looking for travel rewards.

Annual Fee: $0 intro for first year; $95 after that

Looking for something else? Research an even wider range of small business credit cards.

To see the rates and fees for the American Express cards mentioned in this post, please visit the following links: American Express® Business Gold Card (See Rates and Fees); The Business Platinum Card® from American Express (See Rates and Fees)

0 Comments

Be the first to comment!

Start Here

Search. Compare. Apply.

Featured Partner Cards

loading