Both Chase and American Express just dropped major updates to their flagship business cards, and the timing couldn't be better for business owners looking to maximize rewards. The new Chase Sapphire Reserve Business launched in June 2025 with over $2,500 in annual value, while Amex refreshed its Business Platinum Card with $3,500+ in benefits (and yes, both annual fees went up too).

Here's the thing: these aren't just travel cards anymore. They're comprehensive business benefits platforms that can legitimately offset their hefty annual fees if you know how to use them. Let's break down which card deserves a spot in your wallet.

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Quick Take: Which Card Wins?

Choose Chase Sapphire Reserve Business if you want:

• More flexibility with travel benefits
• Better airport lounge access (Chase Sapphire Lounges + Priority Pass)
• Simpler earning structure on everyday spending
• Strong value without hitting spend thresholds

Choose Amex Business Platinum if you want:

• Maximum benefits value ($3,500+ annual value)
• Enhanced technology and software credits
• Superior luxury hotel benefits
• Willingness to maximize enrollment-required benefits

The Numbers: Annual Fees and Welcome Offers

Chase Sapphire Reserve Business

• Annual Fee: $795 (effective June 2025)
• Employee Cards: $195 per card
• Welcome Offer: 200,000 Chase Ultimate Rewards points after $30,000 spend in 6 months
• Value: Worth approximately $2,500+ in travel when redeemed through Chase Travel
• Apply for Chase Sapphire Reserve Business

Amex Business Platinum

• Annual Fee: $895 (increased from $695 in July 2025)
• Employee Cards: Fee varies ($195 for Platinum, $95 for Gold, $0 for Expense cards)
• Welcome Offer: Varies (typically 150,000-200,000 Membership Rewards points)
• Value: Worth approximately $3,000-$4,000+ depending on redemption
• Apply for Amex Business Platinum

The $100 annual fee difference isn't huge when you're playing at this level, but it matters when you factor in employee cards and the total benefits you'll actually use.

Earning Structure: Where Your Spending Actually Matters

Chase Sapphire Reserve Business Earning Rates

The Chase earning structure is refreshingly straightforward. You'll earn 8X points on all Chase Travel purchases, including bookings through The Edit℠ luxury hotel collection. Book flights and hotels directly with airlines and hotel chains? That's 4X points—no portal restrictions required. If you use Lyft for business transportation, you'll get 5X points through September 30, 2027. Businesses running digital marketing campaigns earn 3X points on social media and search engine advertising, which is a nice touch for the ad spend many companies rack up. Everything else earns 1X point per dollar.

Amex Business Platinum Earning Rates

Amex takes a different approach with higher bonuses in narrower categories. Book flights and prepaid hotels through AmexTravel.com and you'll earn 5X points—but only if you use their portal. Here's where it gets interesting for certain businesses: you'll earn 2X points on purchases at U.S. construction material and hardware suppliers, electronic goods retailers, software and cloud system providers, and shipping providers. That 2X rate also applies to any single purchase of $5,000 or more, regardless of category. Both of these 2X bonuses are capped at $2 million in combined eligible purchases per year. Everything else earns 1X point per dollar.

The verdict on earning: Chase wins for simplicity and travel flexibility. You get 4X on flights and hotels booked anywhere, not just through their portal. Amex's 2X categories are valuable if your business spends heavily on software, electronics, or large purchases, but many businesses won't hit that $2 million annual cap anyway.

Travel Benefits: The Real Differentiators

Annual Travel Credits

Chase Sapphire Reserve Business:

• $300 Annual Travel Credit: Most flexible in the industry. Automatically applied to any travel category purchase. No enrollment needed.
• $500 The Edit Credit: Up to $250 semi-annually for prepaid bookings at luxury hotels through Chase. Includes $100 property credit, daily breakfast, upgrades when available.

Amex Business Platinum:

• $600 Hotel Credit: NEW benefit! Up to $300 semi-annually for Fine Hotels + Resorts or The Hotel Collection bookings (2-night minimum for Hotel Collection).
• $200 Airline Fee Credit: Select one airline, covers incidental fees only. American Express determines what qualifies (baggage, seat selection, etc.).
• $200 Hilton Statement Credit: Up to $50 per quarter for direct Hilton purchases. Requires Hilton for Business membership.

Here's where it gets interesting: Chase's $300 credit works on anything travel-related—flights, hotels, rental cars, even tolls and parking. Amex requires you to jump through hoops: prepaid hotel bookings, choosing one airline, enrolling in benefits.

The winner: Chase for simplicity, but Amex provides more total value ($1,000) if you'll actually use all the credits.

Airport Lounge Access

Chase Sapphire Reserve Business:

• Chase Sapphire Lounge by The Club access (growing network)
• Priority Pass Select with 1,300+ lounges worldwide
• Two free guests per visit
• Primary cardholder only (employee cards not eligible for lounge access but can be guests)

Amex Business Platinum:

• Centurion Lounges (unlimited access)
• 10 complimentary Delta Sky Club visits per year (when flying Delta)
• Priority Pass Select membership (enrollment required)
• Escape Lounges access
• $50 per guest unless you spend $75,000/year (then 2 guests free)

The lounge situation is nuanced. Chase gives you two guests automatically. Amex charges $50 per guest unless you hit a $75,000 annual spend threshold. If you're a solo traveler who flies Delta frequently, Amex wins. If you travel with colleagues or family, Chase's automatic guest access is more valuable.

The winner: Chase for most people due to automatic guest access. Amex wins if you're hitting that $75K spend threshold or love Centurion Lounges.

Other Travel Perks

Both cards offer:

• Global Entry/TSA PreCheck credit ($120 every 4 years for Chase, $209 for Amex CLEAR Plus)
• No foreign transaction fees
• Trip delay/cancellation insurance
• Lost luggage coverage
• Auto rental coverage (Chase: primary for business, up to $75K; Amex: secondary for business)

Chase exclusive:

• IHG One Rewards Platinum Elite status through 12/31/27
• Better car rental status (Avis Preferred Plus, National Emerald Club Executive)

Amex exclusive:

• Better suite of travel protections overall
• Larger trip cancellation coverage ($10K per person vs Chase's similar coverage)

Business-Specific Benefits: Where These Cards Shine

Chase Sapphire Reserve Business

DoorDash Value ($420 annually):

• $120 DashPass membership (free for 12 months, through 12/31/27)
• $5/month off restaurant orders
• Two $10/month credits for non-restaurant orders

Google Workspace Credit:

• Up to $200 annually on Google Workspace purchases

ZipRecruiter Credit:

• Up to $400 annually ($200 per half year) on ZipRecruiter purchases

Lyft Credit:

• $10 monthly credit (up to $120 annually) through 9/30/27

Curated Gift Card Credit:

• Up to $100 annually ($50 per half year) at giftcards.com/reservebusiness

Amex Business Platinum

Dell Technologies Credit (NEW):

• Up to $1,150 annually: $150 in statement credits PLUS an additional $1,000 credit after spending $5,000 with Dell

Adobe Credit (NEW):

• $250 statement credit after spending $600 with Adobe annually

Indeed Credit:

• Up to $360 annually ($90 per quarter) on Indeed recruiting purchases

Wireless Credit:

• Up to $120 annually ($10/month) on wireless service purchases

Comparing business benefits head-to-head:

When you look at the pure business credits, Amex comes out ahead with $1,880 in total annual business creditscompared to Chase's $1,240. But let's break down where each card delivers value.

For food and delivery services, Chase offers $420 through DoorDash (including the DashPass membership and monthly credits), while Amex doesn't have a comparable benefit. When it comes to technology and software—a massive spend category for many businesses—Amex dominates with $1,400 in combined credits (up to $1,150 for Dell and $250 for Adobe), compared to Chase's $200 Google Workspace credit.

On the recruiting front, it's nearly a tie: Chase provides $400 annually for ZipRecruiter versus Amex's $360 for Indeed. Amex adds a $120 wireless credit that Chase doesn't match. Chase counters with $120 for Lyft rides and $100 in curated gift cards, neither of which Amex offers.

The catch? Amex's Dell credit requires spending $5,000 with Dell to unlock that full $1,150 value, and the Adobe credit kicks in after $600 in spend. Chase's credits are more straightforward—spend with the merchant, get the credit. No thresholds to hit.

The $120,000 Spend Threshold: Chase's Secret Weapon

Here's something most people miss: if you put $120,000 in annual spend on your Chase Sapphire Reserve Business, you unlock a suite of additional benefits for the remainder of that year plus the entire following year:

• $500 credit for The Shops at Chase
• IHG One Rewards Diamond Elite status (normally requires 70 nights or $50K spend)
• Southwest Rapid Rewards A-List status (worth ~$400+ annually)
• $500 Southwest Airlines flight credit through Chase Travel

That's an additional $1,400+ in value if you're hitting that spend level. Most growing businesses can reach $120K across 12 months, especially when you add employee card spend.

The $250,000 Spend Threshold: Amex's High-Roller Benefits

Amex counters with their own spend threshold—spend $250,000 and unlock:

• $1,200 flight credit on AmexTravel.com (for use the following year)
• $2,400 American Express One AP credits (if you use their AP automation service)

These are massive if you hit the threshold, but $250K is more than double Chase's requirement. The One AP credits only matter if you're using their specific accounts payable platform.

Redemption Flexibility: Getting Maximum Value

Chase Ultimate Rewards

• Transfer 1:1 to 14 airline and hotel partners
• Redeem at 1.5 cents per point through Chase Travel (for Reserve Business cardholders)
• Cash back at 1 cent per point
• Pay yourself back for travel at 1.5 cents per point
• Partners include: United, Southwest, Air Canada, JetBlue, British Airways, Air France/KLM, Emirates, Singapore Airlines, Virgin Atlantic, World of Hyatt, IHG, Marriott

Want to dive deeper into maximizing your Chase points? Check out our comprehensive guide on Chase Ultimate Rewards transfer partners.

Amex Membership Rewards

• Transfer 1:1 to 22 airline and hotel partners
• Redeem through Amex Travel at ~1 cent per point (or 1.43 cents with 35% airline bonus)
• Cash back at 0.6 cents per point (terrible value)
• Pay with Points at varying values
• 35% Airline Bonus: Get 3.5 points back for every 10 points redeemed for your selected airline through Amex Travel (up to 1M points back per year)
• Partners include: Delta (only US airline), British Airways, Air France/KLM, ANA, Singapore Airlines, Virgin Atlantic, Emirates, Marriott, Hilton, Choice Hotels

For a complete breakdown of Amex transfer partners and sweet spot redemptions, read our American Express Transfer Partners guide.

The winner: Chase has Southwest and United as domestic transfer partners, which is huge for US-based travel. Amex has Delta exclusively but offers better international airline partners overall. For maximum flexibility, Chase wins. For international luxury travel, Amex edges ahead.

Total Annual Value Comparison

Let's do the math on what you're actually getting:

Chase Sapphire Reserve Business

• $300 annual travel credit
• $500 The Edit credit
• $469 Priority Pass value
• $120 Global Entry/TSA PreCheck credit (every 4 years = ~$30/year)
• $420 DoorDash value
• $200 Google Workspace credit
• $400 ZipRecruiter credit
• $120 Lyft credit
• $100 gift card credit
• Total: $2,659 annual value
• After $795 fee: $1,864 net benefit (if you use everything)

Amex Business Platinum

• $600 hotel credit
• $200 airline fee credit
• $200 Hilton credit
• $850 lounge collection value
• $209 CLEAR Plus credit
• $1,150 Dell credit (if you spend $5K with Dell)
• $250 Adobe credit (if you spend $600 with Adobe)
• $360 Indeed credit
• $120 wireless credit
• Total: $3,939 annual value
• After $895 fee: $3,044 net benefit (if you use everything)

But here's the reality check: most people won't use every single benefit. Amex's higher value requires more effort—enrolling in benefits, meeting spend thresholds, and using specific merchants. Chase's benefits are more automatic and flexible.

The Fine Print: What You Need to Know

Chase Sapphire Reserve Business

• Pay-in-full card with built-in Flex for Business option (lets you carry a balance on some purchases)
• Employee cards help earn rewards but don't get lounge access (though they can be your guests)
• Most benefits available to both primary and employee cardholders
• Benefits don't require enrollment (except IHG and spend-based perks)

Amex Business Platinum

• No preset spending limit (adjusts based on your usage and payment history)
• Pay Over Time option available for eligible charges
• Many benefits require enrollment
• Employee cards have different benefits depending on card type (Platinum, Gold, or Expense)
• Guest fees apply at Centurion Lounges unless you hit $75K spend threshold

Real-World Usage Scenarios

Scenario 1: Solo Entrepreneur, Moderate Traveler (4-6 trips/year)

Annual spend: $80,000 Best choice: Chase Sapphire Reserve Business

Why? The simpler benefit structure means you'll actually use the credits. The automatic guest access at lounges is great when you travel with clients. The $300 flexible travel credit is easier to max out than Amex's multiple enrollment-required benefits.

Scenario 2: Growing Tech Startup (6-10 employees)

Annual spend: $200,000+ Best choice: Amex Business Platinum

Why? The Dell and Adobe credits are perfect for your equipment and software needs. You're already spending enough to hit the $75K threshold for free lounge guests. The higher business credit total ($1,880 vs $1,240) adds up when you're scaling.

Scenario 3: Consultant Who Travels Weekly

Annual spend: $150,000 Best choice: Chase Sapphire Reserve Business

Why? You'll easily hit the $120K threshold for elite status benefits. The 4X on direct flights and hotels matters more than portal restrictions. Priority Pass works globally, and the automatic two-guest access is clutch when traveling with clients.

Scenario 4: E-commerce Business Owner

Annual spend: $300,000+ Best choice: Amex Business Platinum

Why? The 2X on purchases over $5,000 adds up fast when you're buying inventory or equipment. You'll unlock both spending threshold benefits ($1,200 flight credit + $2,400 One AP credits). The higher earning potential outweighs portal restrictions.

The Card Combo Strategy

Here's what savvy business owners are doing: getting both cards and using them strategically.

Use Chase Sapphire Reserve Business for:

• Direct flight and hotel bookings (4X points)
• Any Chase Travel bookings (8X points)
• Social media and search advertising (3X points)
• Everything where you want simple, flexible rewards

Use Amex Business Platinum for:

• Large purchases over $5,000 (2X points)
• Business category spending (software, electronics, shipping, construction—2X points)
• Maximizing technology credits (Dell, Adobe)
• Centurion Lounge access

You'll pay $1,690 in combined annual fees, but you'll have access to $6,500+ in combined benefits and can maximize earning rates across all spending categories.

Which Card Should You Get?

Get the Chase Sapphire Reserve Business if:

• You want simpler benefits that don't require constant management
• You value flexibility over absolute maximum value
• You frequently travel with colleagues or family (automatic guest access)
• You can hit the $120K threshold for elite status upgrades
• You prefer domestic travel options (Southwest, United transfers)
• You want strong value without juggling enrollment requirements

Get the Amex Business Platinum if:

• You're willing to actively manage benefits and enrollments
• You spend heavily on technology, software, and equipment
• You fly Delta domestically or prefer international travel
• You can hit spending thresholds to maximize value
• You travel solo or don't mind paying guest fees
• You want absolute maximum benefit value

Get both cards if:

• You have $300K+ in annual business spend
• You want to maximize earning rates across all categories
• You travel frequently and want access to all lounge networks
• You can efficiently use benefits from both ecosystems
• You're comfortable managing multiple cards and benefits
• The combined $1,690 annual fee is worth the strategic flexibility

If you're considering the personal versions instead, check out our comparison of the Chase Sapphire Reserve and Amex Platinum cards.

Frequently Asked Questions

Q: Can I downgrade these cards if I don't want to pay the annual fee next year?

A: Chase doesn't have a clear downgrade path from Sapphire Reserve Business. You might consider the Chase Ink Business Preferred as an alternative business card with a lower annual fee. Amex typically allows downgrades to the Business Gold Card or Business Green Card, but you should call to confirm options. Learn more about Amex retention offers if you're considering keeping or canceling.

Q: Do the welcome bonuses count toward Chase's 5/24 rule?

A: Business cards typically don't add to your 5/24 count, but you still need to be under 5/24 to get approved for Chase business cards. For more strategies on managing multiple cards, check out our guide to the Chase Quadfecta.

Q: Which card has better approval odds?

A: Both require strong business revenue and personal credit. Chase wants to see existing banking relationships. Amex is sometimes more flexible with newer businesses but less forgiving of credit issues. Generally, Amex is slightly easier for established businesses with good credit.

Q: Can I use personal cards to hit the spending thresholds?

A: No. Spending thresholds are specific to the individual business card account. However, employee card spending on the same account does count.

Q: Are these worth it for a side business?

A: Only if your side business generates enough spend and travel to justify the fees. If you're spending less than $50K annually and taking fewer than 4 business trips, look at more affordable options like the Chase Ink Business Preferred or Amex Business Gold.

Q: Do I need an LLC or corporation to apply?

A: No. Sole proprietors can apply using their SSN and business name (which can be their personal name). Both issuers accept sole proprietorships.

Q: Can I get both welcome bonuses?

A: Yes! These are different products from different issuers. You can get both welcome bonuses as long as you meet each issuer's eligibility requirements.

Q: How do employee cards work with benefits?

A: Chase employee cards earn points but don't get lounge access (though they can be guests). Amex offers different employee card types with varying benefits and fees. Both cards let you set individual spending limits for employee cards.

The Bottom Line

The Chase Sapphire Reserve Business is the better choice for most business owners. It offers exceptional value with less administrative burden, better domestic airline transfer partners, automatic guest access at lounges, and more flexible travel credits. The $120K spending threshold for additional benefits is achievable for many businesses, and the card's simplicity means you'll actually use what you're paying for.

The Amex Business Platinum offers higher maximum value ($3,500+ vs $2,500+), but you have to work for it. If you're spending heavily on technology, flying Delta, using Fine Hotels + Resorts regularly, and don't mind enrolling in multiple benefits, Amex provides more total value. The $250K spending threshold unlocks significant additional benefits, but it's a high bar.

Neither card is "better" in absolute terms—it depends on your business spending patterns, travel preferences, and willingness to maximize benefits. The good news? Both cards just got significantly better, and either one can deliver tremendous value if you use it strategically.

For many business owners, the real winning move is getting both and using each card for what it does best. That might sound excessive, but when you're earning 4-8X points on six figures of annual spend, the benefits quickly dwarf the combined annual fees.

Ready to apply? Make sure you've got your business revenue numbers handy and can articulate your business legitimately. Both issuers will ask about annual revenue, business type, and years in business. And remember: always apply for these cards when there's a solid welcome offer available—that bonus alone can justify the first year's annual fee.

Apply for Chase Sapphire Reserve Business | Apply for Amex Business Platinum

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