Which American Express Business Card is Best? | CreditShout

Which American Express Business Card is Best?


Credit Shout may collect a share of sales or other compensation from the links on this page.

American Express has long been known as the ultimate business charge card. The company has expanded its offerings with the American Express Plum Card and American Express OPEN choices, which are credit cards rather than charge cards.

The Plum card offers the option of no pre-set spending limit and “trade terms,” meaning you can pay for purchases on flexible terms, rather than having your entire balance due at one time.

One of the things business owners like best about American Express business cards, however, are the perks, including the extensive list of travel benefits, concierge service, and a generous rewards program.

Which American Express business card is best for you depends on your company's spending habits, annual budget, and which features you'd use most often. Let's compare three of the top American Express business card offerings:

American Express Platinum Business Card

The cream-of-the-crop when it comes to Amex (the legendary American Express Centurion card notwithstanding), the Platinum card offers you complimentary concierge service, and all the top-shelf benefits you'd expect from American Express, including travel insurance, purchase protection and more.

You'll enjoy the Membership Rewards First program, where you earn:

  • One point for every dollar spent
  • Up to 4X bonus points in the Bonus Points Mall
  • 2X bonus points when you book your trips with American Express Travel

From now until February 2011, earn 5,000 extra points every month you spend $10,000 or more. The only downside to this card? A hefty $450 annual fee. But in addition to the concierge service, you get travel benefits, access to airport lounges and other perks you can't get with any other American Express card. If you travel a lot for business and want first-class treatment all the way, this is the American Express card to get.

American Express Gold Business Card

With a way more manageable annual fee of $125, waived the first year, the American Express Gold Business Card is probably the best value for most business owners.

You'll miss out on the concierge service and a number of other perks, but you'll still enjoy rewards points, including 50,000 bonus points when you spend $10,000 in the first four months of card Membership. This could actually be a better deal than the Platinum card's offer, depending on how much business your company does.

With the Membership Rewards program, you can earn:

  • One point for every dollar spent
  • Up to 3X bonus points in the Bonus Points Mall
  • 2X bonus points when you book your trips with American Express Travel

American Express Plum Card

The American Express Plum card is still a charge card, but it offers trade terms. If you are a new business just beginning to develop a solid monthly cash flow, or a small business that often needs to stretch dollars at the end of the month, you can benefit from the American Express Plum Card.

With the American Express Plum Card, you can choose the Early Pay Option and earn 1.5% cash back when you pay your balance in full within 10 days of your statement closing date. Or, you can defer payment by paying 10% of your balance by the statement closing date and taking up to two months to pay the balance -- without interest.

This is a great card for small business owners who want to protect their credit rating but also don't want to pay interest.

The Plum card has a $185 annual fee, waived the first year.

Bottom Line

Which American Express Business Card is best? Weighing the features, benefits, and drawbacks, most business owners would benefit most from the American Express Gold Business Card and it's the one we'd recommend.

However, larger businesses or business owners who travel frequently would make a better choice with the Platinum card, thanks to the myriad of travel perks. In this case, you truly do get what you pay for.

The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone. Additionally, the opinions of the commenters are not necessarily the opinions of this site

Leave a comment: