American Express Business Gold vs. Ink Business Preferred: Which business card is best?

The Ink Business Preferred® Credit Card has been a TPG favorite since its launch in 2016, and it remains one of the best business credit cards available. The card’s great earning structure and the ability to combine rewards with other Chase Ultimate Rewards credit cards make it a strong contender in the business credit card space.

Meanwhile, the American Express® Business Gold Card was revamped in 2023 and offers a unique earning structure and statement credits but also carries a higher annual fee (see rates and fees). Let’s compare the two across several criteria to see which card might best suit your business needs.

Based on TPG’s November 2024 valuations of Membership Rewards points at 2 cents per point, this welcome offer is worth a whopping $2,000.

Meanwhile, new Ink Business Preferred cardholders can earn 90,000 bonus points after spending $8,000 on purchases in the first three months from account opening.

Based on TPG’s valuation of Ultimate Rewards points at 2.05 cents per point, these points are worth $1,845.

Before jumping the gun and going for the Amex Business Gold, keep in mind that the spending requirement is substantially higher than that for the Ink Business Preferred.

Another important thing to note is each issuer’s application restrictions. With the Chase card, you’ll be on the hook with their infamous 5/24 rule; therefore, you’ll need to have applied for fewer than five credit cards in the last 24 months in order to be eligible.

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For American Express, you’ll be held to their “one bonus per card per lifetime” rule, so if you’ve owned this card in the past you will not be eligible for the welcome offer, nor will you be eligible for a better offer in the future if you apply now.

Winner: Amex Business Gold, thanks to its slightly more valuable welcome offer.

• Travel protections: Trip delay insurance***, baggage insurance plan** and car rental loss and damage insurance****; cardmembers receive up to $500 worth of insurance for damaged, stolen or lost checked bags ($1,250 for carry-ons).
• Purchase protection**: Eligible purchases are covered against accidental damage or theft for 90 days for up to $1,000 per incident.
• Extended warranty**: Cardmembers can receive up to one additional year of warranty service on purchased items that have warranties of five years or less. The covered amount includes the amount charged to your card up to $10,000 per item, not to exceed $50,000 per cardmember account per calendar year.
• Cellphone protection***: Reimbursements for the repair or replacement cost for damage or theft with a maximum limit of $800 per claim, up to two claims in a 12-month period. Eligibility includes paying the wireless bill for the cellphone line. Approved claims are subject to a $50 deductible.

The Ink Business Preferred also offers a mix of travel and purchase protections, which include:

• Purchase protection: Covers damaged or stolen items within the first 120 days from purchase, up to $10,000 per claim ($50,000 per account).
• Trip cancellation/interruption insurance: For trips canceled or shortened due to covered issues (such as illness or severe weather), you’re eligible for up to $5,000 of coverage per person for prepaid, nonrefundable travel expenses. This coverage is limited to $10,000 per trip.
• Primary car rental coverage: Covered for theft and damage in the U.S. and most countries worldwide. It does not offer any liability coverage but covers up to $60,000 for most rental vehicles.
• Extended warranty protection: Purchases with a U.S. manufacturer’s warranty of three years or less receive an extra year of coverage.
• Cellphone protection: To be eligible, you must pay your bill with the card, and you are covered if your cellphone is stolen or damaged; you can receive up to $1,000 per claim, with a $100 deductible — with up to three claims per year.

What sets Amex Business Gold apart are its statement credits, which help offset the annual fee. Cardmembers receive up to $240 each calendar year (up to $20 a month in statement credits) for eligible purchases at FedEx, Grubhub and office supply stores.

Furthermore, cardmembers also receive up to $155 in statement credits each calendar year for a monthly Walmart+ membership (up to $12.95 per month, subject to auto-renewal, excluding Plus Ups).

Enrollment is required.

**Eligibility and benefit levels vary by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company.

***Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by New Hampshire Insurance Company, an AIG Company.

****Eligibility and benefit level varies by card. Not all vehicle types or rentals are covered, and geographic restrictions apply. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company. Coverage is offered through American Express Travel Related Services Company, Inc.

Winner: Amex Business Gold. While both cards have excellent protections, the Amex Business Gold’s statement credits give it an edge.

The Amex Business Gold has a flexible and very business-friendly approach to bonus category earning. The card is unique in the sense that it earns 4 points per dollar spent in your top two eligible spending categories each billing cycle. This is great for businesses whose expenses fluctuate month to month, giving them more opportunities to rack up the rewards. Eligible categories include:

• U.S. purchases for advertising in select media
• U.S. purchases at gas stations
• U.S. purchases at restaurants
• Transit including trains, taxi cabs, ride-hailing, tolls, ferries, buses, parking and subways
• U.S. purchases made with electronic goods retailers, software and cloud system providers
• Monthly wireless telephone charges that are made directly with U.S. service providers

Additionally, Amex Business Gold cardmembers earn 3 points per dollar spent on flights and prepaid hotels booked directly through AmexTravel.com.

On the other hand, the Ink Business Preferred earns 3 points per dollar spent on the first $150,000 in combined purchases each year on travel; shipping purchases; internet, cable and phone services; and advertising purchases made with social media sites and search engines. Cardholders can also earn 5 points per dollar spent on Lyft rides through March 2025.

All other purchases and any purchases over the $150,000 limit will earn 1 point per dollar.

Although this may not seem as lucrative as the Amex Business Gold, Chase bonus categories are quite often broadly defined, so travel purchases such as tolls, transit or parking meters can also earn 3 points per dollar.

Winner: Amex Business Gold. Higher earning rates and flexible categories that allow businesses to earn in a variety of categories each month put this card ahead here.

Plus, if you also have a Chase Sapphire Reserve®, it gets even better because you can pool your rewards and redeem them for a 50% bonus.

Points earned on both cards can also be redeemed for one cent apiece as a statement credit, toward gift cards or deposited as cash back into your checking account.

Winner: Ink Business Preferred. While both cards offer similar redemption options, the Ink Business Preferred’s 25% redemption bonus when booking through Chase Travel causes it to win here.

Both the Amex Business Gold and Ink Business Preferred allow for points earned to be transferred to travel partners. Membership Rewards points can be transferred to over 20 airline and hotel loyalty programs, whereas Chase has 14 travel partners.

Each card has similar partners, such as Air Canada Aeroplan, British Airways Executive Club and Air France-KLM FlyingBlue, that can help you score phenomenal flight options. Amex has unique partners such as Qatar Airways and All Nippon Airways, whereas Chase has unique partners such as United Airlines and Southwest Airlines.

As both a Chase cardholder and an Amex cardmember, I often take advantage of transfer bonuses. I’ve used transfer bonuses from Amex to British Airways to earn 30% bonus points to help me book Qatar Airways’ Qsuite between Los Angeles and Doha.

Winner: Tie. Both cards share many transfer partners; your winner depends on who you fly with most often.

Related: Check out our guides on maximizing both Chase Ultimate Rewards and Amex Membership Rewards

The Amex Business Gold is great for business owners who have business expenditures that change monthly, as the card covers a variety of bonus-earning categories. However, if you prefer the simpler 3 points per dollar earning of the Ink Business Preferred on select categories (on the first $150,000 per year, then 1 point per dollar) and a low annual fee, then I recommend choosing that card instead.

To learn more, check out our full reviews of the Amex Business Gold and the Ink Business Preferred.

Apply here: Amex Business Gold

Apply here: Ink Business Preferred

Related: Amex Gold vs. Amex Business Gold

For the rates and fees for the Amex Business Gold, click here.