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The target market for high-end business credit cards isn’t individuals looking to squeeze every last cent out of statement credits to offset an annual fee. Instead, these cards are built for organizations that value premium benefits, luxury perks, and strong rewards on high-volume spending.
If that sounds like you, there are some excellent options to choose from. Two notable ones are the Sapphire Reserve for Business℠ (Rates & Fees) and The Business Platinum Card® from American Express.
Here’s a side-by-side comparison of these two high-annual-fee business cards to help you determine which one delivers more value for your business.
- 8X points on all Chase Travel℠ purchases
- 5X total points on eligible Lyft rides through 9/30/2027
- 4x points on flights and hotels booked directly
- 3x points on advertising purchases made with social media platforms and search engines
- 1 point per dollar on all other eligible purchases
(Terms apply)
- Earn 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com.
- Earn 1.5X Membership Rewards® points on each eligible purchase of $5,000 or more.
- Earn 1.5X Membership Rewards® points on each eligible purchase with U.S. construction material and hardware suppliers.
- Earn 1.5X Membership Rewards® points on each eligible purchase with U.S. electronic goods retailers and software & cloud system providers.
- Earn 1.5X Membership Rewards® points on each eligible purchase with U.S. shipping providers.
- 1.5X earning rates are subject to a cap of $2 million in purchases per calendar year.
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What to Consider Before Applying for the Sapphire Reserve Business or Business Platinum Card
On the surface, the Sapphire Reserve Business and Business Platinum Card seem like very different cards. But in many ways, they’re quite similar.
Both charge a high annual fee, feature lucrative sign-up bonuses, come loaded with statement credits and a wide range of travel perks, and offer bonus points on select types of spending — while offering little for everyday, non-bonused purchases.
Ultimately, the better-value option depends on a few key factors beyond just the annual fee and sign-up bonus, such as:
- Is your business willing to utilize multiple statement credits to help justify the annual fee? This is the primary way to offset the high cost of either card. Trying to break even purely through rewards on spending would require a significant amount of spending.
- What does your business spend money on? Each card offers different earning rates, and one provides a more diverse range of bonus categories than the other. Understanding where your business spends most can help you pick the card that will earn the most rewards.
- How often (and where) does your business travel? Consider how frequently you or your employees are on the road. Both cards offer lounge access through their respective networks (plus additional locations via an enrollment-required Priority Pass membership), but neither Amex Centurion® Lounges nor Chase Sapphire Lounges are available in every airport.
If your business is comfortable managing statement credits, spends heavily on travel or select business purchases, and travels frequently, then either card could be an excellent fit. The best choice will depend on which credits you can realistically use, your primary spending categories, and the airports you frequent most.
If your organization prefers to avoid juggling credits, doesn’t spend significantly on travel, or travels infrequently, check out the section below on lower-annual-fee business cards that still deliver great value.
Related: Getting a Small Business Credit Card Is Easier Than You Think — Here’s How to Apply
Which Premium Business Card Offers More Value?
Between the Sapphire Reserve Business and the Business Platinum Card, the best choice comes down to which card’s statement credits you can use easily, which one aligns with your typical travel booking habits, and which offers lounge access at the airports you visit most.
Here’s how the two cards compare in these areas.
Statement credits
Part of the appeal of premium business cards is the generous statement credits they offer. If you can use most or all of these credits, they can go a long way toward offsetting the card’s annual fee. Here’s a side-by-side look at the statement credits available on the Sapphire Reserve Business and the Business Platinum Card:
| Sapphire Reserve for Business℠ | The Business Platinum Card® from American Express |
|---|---|
| • $300 Travel Credit: Qualifying purchases receive up to $300 in credits each year (these purchases do not earn Chase points). • The Edit Credit: Get up to $500 per year ($250 bi-annually) toward eligible reservations made through The Edit. • ZipRecruiter Credit: Get up to $400 annually ($200 bi-annually) toward eligible ZipRecruiter purchases. • Google Workspace Credit: Receive up to $200 in statement credits per year. • Giftcards.com Credit: Get up to $100 in credits per year ($50 bi-annually) for eligible Giftcards.com purchases. • Trusted Traveler Program Credit: Receive up to $120 every four years for Global Entry, TSA PreCheck®, or NEXUS. • DoorDash Credits: Get up to $300 annually ($25 monthly) in DoorDash promotional credits. • Lyft Credit: Get up to $120 in annual credits (up to $10 per month) for Lyft rides. | • Indeed Credit: Get up to $360 back annually for Indeed purchases — issued as $90 in quarterly statement credits. • Airline Fee Credit: Receive up to $200 per calendar year in statement credits for incidental fees charged by your selected airline. Airline selection required. • Dell Credit: Earn up to $150 in statement credits for Dell purchases and an additional $1,000 statement credit after you spend $5,000 per calendar year. • Adobe Credit: Get up to $250 statement credit after you spend $600 or more on Adobe business purchases. • CLEAR® Plus Credit: Receive up to $209 annually in statement credits for a CLEAR® Plus membership. • Trusted Traveler Program Credit: Receive up to $120 back if you charge the application fee for TSA PreCheck (every 4.5 years) or Global Entry (every 4 years) to your card. • Monthly Wireless Credit: Get up to $10 in monthly statement credits for wireless telephone service purchases made directly from U.S. providers. Enrollment is required for select Amex benefits. |
There’s very little overlap between the statement credits these two cards offer. Ultimately, the most valuable credits are the ones you can use naturally without changing your spending habits. If a card’s credits help offset expenses you’d incur anyway, that’s meaningful value. But if the credits apply to purchases you wouldn’t normally make, they might not be as valuable as they appear on paper.
It’s also worth noting that each credit works differently. Some require you to enroll in advance, while others must be used quarterly, biannually, or annually. These credits generally don’t roll over if you forget to use them, so you’ll need to keep track of when and how they need to be used. If you can’t or don't want to manage that, you may be better off with a simpler business card instead.
Earning rates
The Sapphire Reserve Business and Business Platinum Card differ substantially in their earning rates. Here’s how you’ll earn Chase Ultimate Rewards and Amex Membership Rewards points on your business purchases:
| Sapphire Reserve for Business℠ | The Business Platinum Card® from American Express |
|---|---|
|
|
To put these bonus categories into perspective, it helps to consider what Chase Ultimate Rewards and Amex Membership Rewards points are actually worth. On average, AwardWallet users redeem these currencies for:
- Chase Ultimate Rewards: 1.96¢ per point
- Amex Membership Rewards: 1.97¢ per point
At the time of writing, the average redemption values are fairly similar. That means the more valuable card for you will come down to which bonus categories best match your business spending habits — and which transfer partners you’re most likely to use. That’s ultimately how you’ll maximize the value of your points.
If you’d like to dive deeper, check out these resources:
- Amex transfer partners
- Chase transfer partners
- Best Ways to Redeem Amex Membership Rewards
- Best Ways to Redeem Chase Ultimate Rewards
Airport lounge access
Another major differentiating factor between the Sapphire Reserve Business and the Business Platinum Card is the airport lounge access they provide. Each issuer grants cardholders entry to its own branded lounges, along with select partner networks.
Here’s a comparison of the lounge networks you can access with each card:
| Sapphire Reserve for Business℠ | The Business Platinum Card® from American Express | |
|---|---|---|
| Amex Centurion Lounges | No | Yes — unlimited access for the primary cardholder |
| Chase Sapphire Lounges | Yes — unlimited access for the primary cardholder | One visit per year with enrolled Priority Pass membership |
| Airspace Lounges | No | Yes |
| Delta Sky Clubs® | No | Yes — when flying on a same-day Delta ticket |
| Escape Lounges | Only if available through Priority Pass | Yes |
| Lufthansa Lounges | No | Yes |
| Plaza Premium Lounges | Only if available through Priority Pass | Yes |
| Priority Pass Lounges | Yes — enrollment required for Priority Pass Select membership | Yes — enrollment required for a Priority Pass Select membership |
Of the two, the Business Platinum Card offers access to a larger number of lounges worldwide. However, it’s arguable that Chase Sapphire Lounges come out ahead of Amex Centurion Lounges when it comes to the guest experience.
Ultimately, though, the card that provides the most value will be the one that gives you lounge access at the airports you travel through most often.
Related: Best Credit Cards for Airport Lounge Access
Unlock More Value With a Lower-Annual-Fee Business Card
Value is inherently subjective, and you may be able to unlock more of it with a business card that charges a much lower annual fee. For example, if your business spends heavily on miscellaneous purchases, doesn’t want to pay a premium for hard-to-use statement credits, or simply prefers straightforward rewards and redemptions, you might find better value in something much simpler.
Here are three business cards with lower annual fees than the Sapphire Reserve Business or Business Platinum Card that still offer compelling value in their own way.
- If you value airport lounge access and better return on everyday spending, the Capital One Venture X Business is a top pick. With a $395 annual fee, this card provides unlimited access to Capital One Lounges, plus a complimentary Priority Pass Select membership (enrollment required), granting access to more than 1,300 lounges worldwide. Cardholders earn 10X miles on hotels and rental cars booked through Capital One Travel, 5X miles on flights and vacation rentals booked through Capital One Travel, and 2X miles on all other purchases. Learn more in our full Venture X Business review.
- If your business spends heavily on travel but doesn’t need airport lounge access or a suite of extra perks, consider the Ink Business Preferred® Credit Card (Rates & Fees). Issued by Chase, this card earns 3x points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, and advertising purchases made with social media sites and search engines each account anniversary year. It’s one of our favorite business travel cards and comes with a modest $95 annual fee. Learn more in our full Ink Preferred review.
- If you’d prefer to avoid an annual fee altogether but still want solid point earnings, consider The Blue Business® Plus Credit Card from American Express. This no-annual-fee card (Rates & Fees) earns 2X points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter. Terms and limitations apply. Even better, the points you earn can be transferred to all American Express transfer partners. Learn more in our full Blue Business Plus review.
- 10X miles per $1 on hotels and rental cars booked via Capital One Travel
- 5X miles per $1 on purchases through Capital One Entertainment (through 12/31/2025)
- 5X miles per $1 on flights booked via Capital One Travel
- 5X miles per $1 on vacation rentals booked via Capital One Travel
- 2X miles per $1 on other eligible purchases
- 3X points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year
- 1X point per $1 on all other purchases
(Terms Apply)
- Earn 2X points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter. Terms and limitations apply.
Related: Best Business Credit Card Offers for This Month
Bottom Line
When it comes to premium business cards, there’s no one-size-fits-all solution. The Sapphire Reserve Business and the Business Platinum Card are distinct enough to suit different types of businesses, yet similar enough that any organization considering either will need to actively manage statement credits to justify the high annual fees. Otherwise, there are lower-fee business cards that can deliver comparable value with less effort.
It’s also worth noting that the Business Platinum Card is expected to undergo a refresh later this year. Its benefits and annual fee may change, so if you’re leaning toward this card over the Sapphire Reserve Business, be sure to factor in how those potential changes might impact its long-term value for your business. The refresh could make the card an even better fit — or might prompt you to look elsewhere.
Of these two cards, which do you think would work best for your business, and why? Share your thoughts in the comments below!
For rates and fees of the cards mentioned in this post, please visit the following links: Sapphire Reserve for Business℠ (Rates & Fees), The Business Platinum Card® from American Express (Rates & Fees), Ink Business Preferred® Credit Card (Rates & Fees), and The Blue Business® Plus Credit Card from American Express (Rates & Fees)
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