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Chase Freedom Unlimited® vs The Business Platinum Card® from American Express
This comparison aims to assist users in deciding between the Chase Freedom Unlimited® and The Business Platinum Card® from American Express. Both cards offer distinct features catering to different spending habits and financial goals.
Card Overviews
Chase Freedom Unlimited®
The Chase Freedom Unlimited® is designed for individuals seeking a straightforward rewards program with no annual fee. It offers cash back on various purchases and is ideal for those who want to earn rewards without complex conditions.
The Business Platinum Card® from American Express
The Business Platinum Card® from American Express caters to business owners looking for premium travel benefits and rewards. With a higher annual fee, it provides extensive perks, including access to airport lounges and substantial rewards for business-related spending.
Detailed Feature Comparison
| Feature | Chase Freedom Unlimited® | The Business Platinum Card® from American Express |
|---|---|---|
| Annual Fee | $0 | $695 |
| Welcome Bonus | $250 Bonus after spending $500 in the first 3 months | 150,000 Membership Rewards® points after spending $20,000 in the first 3 months, plus a $500 statement credit |
| Rewards Structure | 5% on travel purchased through Chase, 3% on drugstore and dining, 1.5% on all other purchases | 5X points on flights and prepaid hotels booked at AmexTravel.com, 1.5X on select purchases, 1X on other purchases |
| Foreign Transaction Fee | None | None |
| Other Fees | None | Annual fee applies |
| Additional Benefits | No expiration on rewards, free access to credit score | Access to 1,400+ airport lounges, $200 Airline Fee Credit, various statement credits |
Rewards Highlights
- Earn 5X Membership Rewards® points for flights, prepaid hotels, and short-term rentals and prepaid flight + hotel packages booked at AmexTravel.com.
- Earn 1.5X points (that’s an extra half point per dollar) on each eligible purchase at US construction material, hardware suppliers, electronic goods retailers, and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more, on up to $2 million per Card Account per calendar year. Purchases eligible for multiple additional point bonuses will only receive the highest eligible bonus.
- Earn 1X points on other eligible purchases.
Pros and Cons
Chase Freedom Unlimited®
- Pros:
- No annual fee
- Flexible cash back rewards
- Simple redemption process
- Strong welcome bonus
- Cons:
- Limited premium travel benefits
- Lower rewards rate on some categories compared to premium cards
The Business Platinum Card® from American Express
- Pros:
- Extensive travel benefits
- High rewards potential for business expenses
- Access to airport lounges
- Multiple statement credits available
- Cons:
- High annual fee
- Complex rewards structure
Who Should Consider Which Card?
The Chase Freedom Unlimited® is ideal for casual spenders who prefer a no-annual-fee card with straightforward cash back rewards. It's perfect for individuals who want to earn rewards without committing to a high annual fee.
Conversely, The Business Platinum Card® from American Express is best suited for frequent travelers and business owners who can take advantage of the premium travel benefits and are comfortable with the annual fee in exchange for extensive perks.
Conclusion
Ultimately, the choice between the Chase Freedom Unlimited® and The Business Platinum Card® from American Express depends on individual spending habits and financial goals. Evaluate the benefits and fees associated with each card to make an informed decision that aligns with your lifestyle.