American Express gold and platinum precious metal cards are known for their uniqueness. Gold and Platinum cards carry annual fees far greater than the typical credit card price, but they also provide several benefits to cardholders. If you travel frequently and want a reputable rewards card for everyday business expenses, you may want to consider the Amex Business Gold Card.

However, if you're looking for a more standard luxury travel card for your business with benefits to make travelling more enjoyable, then the Business Platinum Card from Amex is the better option. Keep on reading this article to learn more!

Gold vs Platinum Amex Card: An Overview

Since the American Express Gold and Platinum cards are truly charge cards rather than credit, you must make monthly payments in advance. The Amex Business Platinum card as compared to Gold card have a higher cost and greater benefits. The annual charge for the American Express Gold card is 250 dollars, whereas the Platinum card has an annual fee of $695. The Gold card is designed for those who enjoy dining out, shopping, and making major daily purchases.

Gold vs Platinum Card: How to Choose?

Each card has unique advantages designed to meet different business demands. You may choose which one is more appropriate for your company by being mindful of the differences between the two.

Welcome Bonus

Compared to the Amex Business Gold Card, the Business Platinum Card offers a more generous welcome bonus. However, earning it also requires more spending during the first three months of card membership.

When a new Business Platinum cardholder spends fifteen thousand dollars on qualified purchases with the card within the first three months of membership, they will receive twelve thousand membership rewards points. Within the first three months of opening an account, new cardholders of The Business Gold card can earn seventy thousand membership rewards points by spending ten thousand dollars on qualifying transactions.

If you have enough business expenses to reach the minimum spending criterion, the Amex Business Platinum card is the winner in this contest. But because of its more reachable welcome bonus, smaller firms with fewer monthly expenses that can be charged to a credit card could be better off choosing the Gold card.

Annual Charges

The recent annual price hike for the Amex Business Gold Card to $375 is still far less than the $695 fee for the American Express Business Platinum Card. Small business owners on a tight budget might object to spending an additional $320. If so, you may want to consider the lower annual cost of the American Express Business Gold Card. But many of the extra benefits of the Business Platinum card make up for its higher yearly cost.

Reward Points

The main benefit of the Amex Business Gold Card is the significant rewards program, which offers four rewards points for every dollar spent in the two domains where your company spends the most monthly. For the first $150,000 in total purchases made from the two qualifying categories in a given calendar year, there is a 4-point earning rate per dollar.

Furthermore, maximizing your point earnings is now simple with American Express. You do not have to choose which of your two categories you will spend the most money in each month, nor are you required to stick with them for the full year.

Travel Perks

Using the Platinum card to make rewards-earning travel transactions opens up a world of worthwhile travel benefits. You can also receive up to 189 dollars credit, a maximum of $200 in Uber Cash, and up to $200 in airline charge credit in addition to the other benefits. You receive far more in travel benefit value than the yearly cost back if you use this American Express travel card responsibly.

You can access the American Express Global Lounge Collection when you pay for flights with your Platinum card. That's more than 1,400 lounges located across hundreds of international airports. At select pre-paid hotels, both cards grant access to Amex-related benefits. The Platinum card offers four times the points when you pay for hotel purchases made through Amex Travel. It also gives you a $200 yearly bill credit that may be applied to eligible hotel reservations.

There is free American Express travel insurance with both cards. On the other hand, the Amex Business Platinum card offers additional coverage options. For instance, it covers trip interruption and cancellation insurance for qualified claims. This implies that American Express will compensate you a maximum of ten thousand dollars per trip and twenty thousand dollars per eligible credit card per 12-month period if you have to cancel your vacation for a specified reason.

Redemption Alternatives

With one significant exception, the Business Gold and Platinum redemption choices are nearly the same. Use of points for hotels and resort reservations is restricted to Business Platinum cardholders only. When redeemed in this manner, membership reward points are valued at one cent each. Additional redemption options for both cards include shopping, gift card redemption, booking travel and accommodations, and paying credit card debt.

Certain gift card redemptions and flight redemptions are valued at one penny each point. However, most alternative redemption options only earn between 0.5 and 0.7 cents per point, making them less desirable. Redeeming Membership Rewards Points for statement credits only yields 0.6 cents for each point.

Both cards allow users to transfer their points to Amex's airline and hotel travel partners. Transferring points, mainly to airlines, is often regarded as one of the most advantageous uses of membership rewards points.

Conclusion

American Express offers two cards designed for small business owners, including the Amex Business Platinum Card and the Business Gold Card. Which card is ideal for you depends on your spending and travel habits, but both will provide you with outstanding customer service.

If you want to maximize the points you receive from the card and spend a lot of money in its bonus areas, the Amex Business Gold Card is ideal. On the other hand, if you value airline lounge access, travel frequently, and can benefit from all of the card's travel benefits, the Platinum Business Card could be a better choice.