5 Reasons Folks Would Rather Pay a $450 Annual Fee (Instead of $95)

5 Reasons Folks Would Rather Pay a $450 Annual Fee (Instead of $95)

Million Mile Secrets5 Reasons Folks Would Rather Pay a $450 Annual Fee (Instead of $95)Million Mile Secrets Team

Disclosure: We get a commission for links on the blog. You don’t have to use our links, but we’re very grateful when you do. American Express, Capital One, Chase, and US Bank are Million Mile Secrets advertising partners. Opinions expressed here are the author's alone, and have not been reviewed, approved or endorsed by our partners.

The Ink Business Preferred Credit Card is currently my favorite card offer because of the lucrative sign-up bonus.  But The Business Platinum® Card from American Express OPEN has some terrific ongoing perks, which might make it a better card over the long-term.  Here’s a look at the current offers for both cards:

Card Name Sign-Up BonusAnnual Fee
Ink Business Preferred℠ Credit Card
80,000 Chase Ultimate Rewards points (worth $800 in cash back or $1,000 in travel) after you spend $5,000 on purchases in the first 3 months from account opening$95
The Business Platinum® Card from American Express OPEN
Up to 75,000 AMEX Membership Rewards points

Earn 50,000 Membership Rewards points after you spend $10,000 and an extra 25,000 points after you spend an additional $10,000 in the first 3 months from account opening

At first glance, you might be skeptical about getting a card with a $450 annual fee.  But savvy folks can make use of ongoing perks with the AMEX Business Platinum to more than offset the annual fee expense!

Best Business Credit Cards Compared
Team Member Keith Loves the Combination of Perks He Gets as an Ink Business Preferred and AMEX Business Platinum Cardholder! Between the 2, the Business Platinum Offers More Big Travel and Money Saving Benefits Over the Long-Term!

You must have a small business to qualify for these cards.  But remember there are lots of side activities that can make you eligible!  Plus, you can apply using just your Social Security Number!

Superior Perks of the AMEX Business Platinum!

Link:   The Business Platinum® Card from American Express OPEN

Link:   My Review of the American Express Business Platinum Card

Keep in mind, the best small business card for your personal situation depends on your travel preferences and goals.  But here are 5 reasons the AMEX Business Platinum might be the best fit!

1.   Annual $200 Airline Incidental Credit

An excellent perk for AMEX Business Platinum cardholders is the $200 in statement credits per calendar year for airline incidentals.

With this credit, you can pay for baggage fees, seat upgrades, lounge day passes, and get a statement credit a few days after making your purchase.  I even got the full $200 credit by purchasing Southwest gift cards!

Best Business Credit Cards Compared
Using the AMEX Business Platinum $200 Airline Incidental Credit for Gift Cards Is a Super Easy Way to Make Use of This Benefit!

You must select one of these airlines in order to take advantage of the credit:

  • Alaska Airlines
  • American Airlines
  • Delta
  • Frontier Airlines
  • Hawaiian Airlines
  • JetBlue
  • Southwest
  • Spirit
  • United Airlines

This benefit effectively reduces the AMEX Business Platinum annual fee to $250 ($450 annual fee – $200 credit).

2.   Lounge Access

Link:   How to Find AMEX Platinum Airport Lounges

With an AMEX Business Platinum card, you’ll get access to a variety of airport lounges, including:

Spending time in airport lounges (especially Centurion Lounges) is a terrific way to save money on overpriced airport food and drinks.

It’s hard to quantify the savings because it depends on your travel habits.  But team member Keith says he gets hundreds of dollars worth of value thanks to the complimentary beer and wine offered in the lounges. 🙂

Best Business Credit Cards Compared
Folks Who Enjoy a Pre-Flight Beverage Can Use the AMEX Business Platinum Card to Access Centurion Lounges and Many Other Airport Lounges!

You don’t get lounge access as an Ink Business Preferred cardholder.  So having the AMEX Business Platinum is better if you make the most of this perk!

3.   Save Money on Purchases You’re Already Planning With AMEX Offers

AMEX Business Platinum cardholders get easy money saving or bonus point earning opportunities thanks to AMEX Offers.

For example, you can get a statement credit just by using your card to pay for hotel stays or while shopping online at popular retailers.  These are targeted deals that are constantly changing.  When you see one you like, you just have to add it to your card.

Best Business Credit Cards Compared
Savings From AMEX Offers Alone Could Offset Your Entire Annual Fee Expense!

You can read how team member Meghan profited nearly $1,000 thanks to an AMEX Offer!

4.   Earn Bonus Points for Large Purchases

I know business owners are constantly investing to grow or market their companies.  This means you might have to make large purchases for new equipment or other expenses.

With the AMEX Business Platinum card, you earn 1.5X AMEX Membership Rewards Points for single purchases of $5,000+.  These are valuable points you can transfer to 20 airline or hotel partners, like Hilton or Singapore Airlines!

Best Business Credit Cards Compared
Earn Bonus AMEX Membership Rewards Points for Making Large Purchases and Transfer Points to Airline or Hotel Partners for a Hawaiian Vacation!

Unfortunately, the AMEX Business Platinum does NOT have bonus spending categories like the Ink Business Preferred.

For example, with the Ink Business Preferred, you’ll earn 3X Chase Ultimate Rewards points for every $1 you spend on travel, shipping purchases, internet, cable and phone services, advertising purchases made with social media sites, and search engines (up to a maximum of $150,000 in combined purchases per account anniversary year).

So if you frequently makes purchase in the above bonus categories, the Ink Business Preferred could be a better pick.

5.   Get More Value for Points Through the AMEX Travel Portal

With the AMEX Business Platinum, you can use Pay With Points to book airfare through the AMEX travel portal with no blackout dates.  When you book this way, you’ll get:

  • 35% of your points back for ALL First Class or Business Class flights
  • 35% of your points back for coach tickets booked with your selected airline

Taking advantage of this booking option effectively makes your AMEX Membership Rewards points worth ~1.5 cents each.

$100 worth of airfare would require 10,000 AMEX Membership Rewards points.  But you’ll get 3,500 points back (35% X 10,000 points).  So in the end you’re using 6,500 points for $100 worth of airfare ($100 airfare / 6,500 points = ~1.5 cents per point)

Best Business Credit Cards Compared
Business Platinum Cardholders Can Get a 35% Rebate When Redeeming AMEX Membership Rewards Points for Business Class or First Class Flights!

The Ink Business Preferred also has an option for using points to book airfare through the Chase travel portal.  But you’ll only get 1.25 cents per point worth of value.  The advantage of using Chase Ultimate Rewards points through the portal is you can also book hotels and rental cars, not just airfare.

Bottom Line

Right now, you can earn lucrative sign-up bonuses with the AMEX Business Platinum and Ink Business Preferred cards.  The Ink Business Preferred is my favorite card offer because you earn extremely valuable Chase Ultimate Rewards points.

But the AMEX Business Platinum card comes with amazing ongoing perks that could make it a better card to keep in the long-term.  This includes benefits like:

These perks can more than offset the $450 annual fee on the AMEX Business Platinum.  And they’re why folks don’t mind paying for a premium card!

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The Business Platinum® Card from American Express OPEN

The Business Platinum® Card from American Express OPEN

  • Welcome Offer: Earn up to 75,000 Membership Rewards® points.
  • Earn 50,000 Membership Rewards® points after you spend $10,000 and an extra 25,000 points after you spend an additional $10,000 all on qualifying purchases within your first 3 months of Card Membership.
  • Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com.
  • Get 50% more Membership Rewards® points. That's 1.5 points per dollar, on each eligible purchase of $5,000 or more. You can get up to 1 million additional points per year.
  • 35% Airline Bonus: Use Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline, and you can get 35% of the points back, up to 500,000 bonus points per calendar year.
  • You can also receive 35% points back on all First and Business class flights, with all airlines available through American Express Travel.
  • You can enjoy access to The American Express Global Lounge Collection℠ offering access to the most lounges across the globe, when compared with other U.S. credit card offerings. As of 6/2017
  • Terms Apply
  • See Rates & Fees
Terms Apply | Rates & Fees

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I am a part time realtor. Do I have to register a company to apply business cards?

Million Mile Secrets

You can apply as a sole proprietor using just your Social Security Number, which means you don't have to register as a business. Here's a post with more details: