Amex Business Gold vs. Amex Business Platinum: Credit card showdown

In the American Express lineup of small-business cards, the American Express® Business Gold Card and The Business Platinum Card® from American Express are two popular offerings.

But just like their consumer counterparts, these two cards are each geared toward cardholders with different goals and needs. The Amex Business Gold card recently underwent a refresh of benefits, including an upcoming increase in the annual fee. Meanwhile, the Business Platinum Card got its own overhaul in 2021.

Let’s review these cards to see how the refreshed Amex Business Gold competes with the Amex Business Platinum.

The Amex Business Gold Card is currently offering 70,000 points after you spend $10,000 on eligible purchases with your card in the first three months of card membership. If you apply for and are approved for the card before Feb. 1, 2024, the annual fee will be $295 (see rates and fees) and $375 the following renewal year. TPG values Amex points at 2 cents a piece, so the current offer is worth about $1,400, which is incredible.

The welcome offer on the Amex Business Platinum Card is even better, as new applicants earn 120,000 points after spending $15,000 on eligible purchases in the first three months of card membership. The Amex Business Platinum comes with a $695 annual fee (see rates and fees). According to TPG’s valuations, the welcome offer for the Business Platinum is worth a staggering $2,400. However, that does come with a significantly higher spending threshold to earn the bonus.

Winner: Amex Business Platinum — as long as you can meet the card’s hefty minimum spending requirement

As premium business travel rewards cards, both come with many of the same features:

• Travel protections — Trip delay insurance**, baggage insurance plan*, and car rental loss and damage insurance*. Business Gold cardholders receive up to $500 worth of insurance for damaged, stolen or lost checked bags ($1,250 for carry-ons). Meanwhile, Business Platinum cardholders receive up to $2,000 for checked bags ($3,000 for carry-ons) when traveling on any common carrier such as aircraft, trains, ships or buses.
• Purchase protection* — Your eligible purchases are covered against accidental damage or theft for 90 days for up to $1,000 per incident with the Business Gold and up to $10,000 per incident with the Business Platinum for up to $50,000 per cardmember account per calendar year. However, coverage related to natural disasters is limited to $500 per incident.
• Extended warranty* — Your purchases receive up to one additional year of warranty service on purchases with warranties of five years or less. Coverage is up to the actual amount charged to your card for the item up to a maximum of $10,000, not to exceed $50,000 per cardmember account per calendar year.
• Cellphone Protection** — Receive reimbursements for the repair or replacement costs for damage or theft with a maximum limit of $800 per claim up to two claims in a 12-month period. In order to be eligible, the wireless bill for the cellphone line must be paid using either the Business Gold or Business Platinum. A $50 deductible is applied to approved claims.

The refreshed Amex Business Gold has finally introduced statement credits, putting it more on par with its counterpart, the Business Platinum. Cardmembers will receive up to $240 annually ($20 a month in statement credits) for eligible purchases at FedEx, Grubhub, and office supply stores. In addition, card members will also receive up to $155 back annually in statement credits for a monthly Walmart+ membership (subject to auto-renewal).

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Turning toward the Amex Business Platinum, we have many benefits beyond what the Amex Business Gold offers. These benefits are enough to offset the card’s high annual fee but are also tailored to help businesses with costs. Statement credits include up to $400 with Dell Technologies ($200 bi-annually), $360 with Indeed ($90 quarterly), $150 with Adobe Creative Cloud or Pro DC, and $120 with U.S. wireless service providers ($10 monthly).

But where the Amex Business Platinum shines is with its travel benefits, such as the $200 airline fee credit on your choice of airline toward incidental purchases, $189 Clear Plus credit and up to $100 fee reimbursement for the Global Entry or TSA PreCheck application fee. Cardholders also enjoy access to an extensive collection of airport lounges, including Amex’s own Centurion Lounges, Plaza Premium lounges, Priority Pass Select, Lufthansa Lounges (with a same-day Lufthansa flight, regardless of ticketed cabin) and Escape Lounges. This also includes Delta Sky Club access when traveling on a same-day Delta flight — though you’ll be limited to six total visits with the card starting Feb. 1, 2025.

Additional travel benefits include complimentary Marriott Bonvoy Gold Elite status, worth $805 and Hilton Honors Gold status, worth $1,220, according to TPG’s valuation.

Finally, both cards currently offer Pay with Points rebates on select flights booked through American Express Travel. When you use Membership Rewards points to book first- or business-class flights on any airline or economy tickets on your designated airline, you’ll enjoy 25% of those points back as an Amex Business Gold cardmember and 35% of them back as a Business Platinum cardmember. However, this perk is going away on the Business Gold card starting Feb. 1, 2024.

Winner: Amex Business Platinum

*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.

The Amex Business Gold has useful, business-friendly 4 points per dollar bonus categories. A unique aspect of earning on this card is that you’ll automatically earn 4 points per dollar in your top two spending categories each month, so there’s no need to select a category and commit to it. Due to the card’s refresh, two additional categories have been added, while others will be removed on Feb 1, 2024. The eligible categories are:

• U.S. purchases for advertising in select media
• U.S. purchases at gas stations
• U.S. purchases at restaurants
• Transit including trains, taxi cabs, rideshare, tolls, ferries, buses, parking and subways subways
• U.S. purchases made with electronic goods retailers, software and cloud service providers
• Monthly wireless telephone charges are made directly with U.S. service providers.
• Airfare purchased directly from airlines (ending on Feb. 1)
• U.S. purchases for shipping (ending on Feb. 1)
• U.S. purchases made from select technology providers of computer hardware, software, and cloud solutions (ending on Feb. 1 — though these merchants will all be a part of the similar category detailed above)

The refreshed Amex Business Gold also earns 3 points per dollar on flights, prepaid hotels, and prepaid flight + hotel packages that are booked directly with Amex Travel or AmexTravel.com.

In comparison to the Business Gold, the Amex Business Platinum offers a limited number of categories to earn points. The eligible categories include:

• 5 points per dollar spent on flights and prepaid hotels booked through amextravel.com.
• 1.5 points per dollar spent on eligible purchases in business categories and purchases of $5,000 or more, for up to $2 million in purchases a year.
• 1 point for every dollar on all other eligible purchases

Winner: Amex Business Gold

Related: Maximize your earning with the Amex Business Gold

Membership Rewards earned with the card can be redeemed toward statement credits, used for travel purchases (such as airfare or hotels) through Amex Travel, and transferred to the issuer’s 21 airline and hotel partners.

However, there are slight differences when it comes to select flights booked via American Express Travel with the issuer’s Pay with Points feature.

When you redeem Membership Rewards points for business- or first-class tickets on any airline or any fare class using the Business Gold, you’ll earn a 25% rebate (up to 250,000 points back per calendar year). Meanwhile, the Amex Business Platinum offers a 35% Pay with Points rebate (up to 1 million points back per calendar year).

The Business Platinum already has the edge here, but that will get even larger as of Feb. 1, 2024, as the Pay with Points rebate is being discontinued for the Amex Business Gold as of that date.

Winner: Amex Business Platinum

Membership Rewards points can be transferred to over 20 airline and hotel loyalty programs. When used in this manner, points are worth 2 cents each, according to TPG’s latest monthly valuations. Transferring points to airline partners such as Air Canada Aeroplan, British Airways Executive Club, or Air France-KLM FlyingBlue can help you score phenomenal flight options and get the most return on your points — especially if you can do so with a limited-time transfer bonus.

Both cards offer the exact same list of transfer partners and ratios.

Winner: Tie

The Amex Business Platinum is great for frequent travelers and those looking for a card to give them perks and benefits that enhance their experience when on the road. These benefits include Marriott and Hilton elite status, an array of airport lounge access and more. These perks usually deliver more than enough value for most business travelers to justify the Business Platinum card’s $695 annual fee (see rates and fees).

On the other hand, the Amex Business Gold is better for small-business owners who want to earn maximum points on everyday business spending across a wide variety of categories. If you get anywhere close to maximizing the card’s bonus categories, the value of the points you earn will dwarf the Business Gold card’s $295 annual fee ($375 if the application is received on or after Feb. 1, 2024; see rates and fees). Indeed, if you spend $150,000 in those categories, you’ll earn 600,000 Membership Rewards points, which TPG values at $12,000.

While the Amex Business Platinum is superior when it comes to perks and benefits, the Amex Business Gold outshines the Platinum when earning bonus points on spending categories.

Application link: The Business Platinum Card from American Express
Application link: American Express Business Gold Card

For rates and fees of the Amex Business Gold Card, click here.
For rates and fees of the Amex Business Platinum Card, click here.