Should you get the new Hilton Honors American Express Business Card?
For a few more days, the Hilton Honors American Express Business Card is offering one of the best welcome bonuses we’ve ever seen on this particular card.
Until June 5, 2024, in celebration of a refreshed value proposition that launched in March, new cardholders earn 175,000 Hilton Honors bonus points after spending $8,000 in their first six months with the card. The standard offer is 130,000 bonus points; because we value each Hilton Honors point at 0.6 cents, the current introductory bonus is worth around $1,050.
This card also recently began offering 5 points per dollar on most types of spending (up to $100,000 per calendar year), with an elevated return of 12 points per dollar on Hilton purchases. It used to give 3 points per dollar on most purchases, 6 points per dollar on select business and travel expenses and 12 points per dollar at Hilton properties. While the business and travel categories have gotten a bit less lucrative, I suspect most cardholders will come out ahead with the broad “everything else” category nearly doubling its earning potential.
Big spenders will only get 3 points per dollar on most purchases after hitting the $100,000 annual threshold, so that’s a drawback. And while six figures is a lot of money, keep in mind that this is a business card, and businesses tend to spend a lot more than consumers. That threshold could approach pretty quickly if you’re organizing corporate events, buying raw materials or investing in new machinery (among other big-ticket items).
New credits on Hilton purchases
The Hilton Honors American Express Business Card now comes with a $240 annual credit on eligible Hilton purchases. That’s more than enough to offset the $195 annual fee (which was $95 before the recent changes). A con is that the credit is doled out in quarterly increments up to $60 apiece, so cardholders can’t get $240 off a single hotel stay. An obvious way to max the credits is to stay at a Hilton property at least every quarter. Each credit is unlikely to cover your full stay, but it’s still a nice offset.
Alternatively, you could consider applying the credit to a meal or drinks or a spa treatment at a Hilton hotel. These options are especially enticing if you don’t travel that much (though, if you don’t travel that much, this may not be the best card for you in the first place). You also need to be at least somewhat loyal to the Hilton brand. Otherwise, you’re better off going with a cash back credit card or a different travel rewards card that’s either broad enough to keep your options open or that focuses on an airline or hotel brand you use regularly.
Hotel and car rental elite status perks
Cardholders no longer get a free night by spending $15,000 on the Hilton Honors Amex Business Card in a given year, but they do still get complimentary Hilton Honors Gold status, which qualifies members for 80 percent more base points on every stay and potential room upgrades. If you spend $40,000 on this card within a calendar year, you’ll be upgraded to Diamond status for the rest of that year and the entire following year, entitling you to perks like a 100 percent points bonus and premium Wi-Fi at select Hilton properties.
There’s also a newly-added National Car Rental Emerald Club Executive status benefit for all Hilton Honors American Express Business Card Members, which makes it easier to earn free car rentals and upgrades.
Who should apply for the Hilton Honors American Express Business Card?
The best candidate for this card is a business owner who stays at Hilton hotels at least a few times a year. The more you spend and the more you stay at Hilton properties, the more valuable this card becomes. And remember that business credit cards have pretty lenient eligibility standards. Freelancers, gig workers and sole proprietors can all apply; you don’t necessarily need to employ a bunch of people or even have a formally incorporated business to qualify.
Other business card options to consider
Business credit cards tend to be more lucrative than consumer credit cards, and the Hilton Honors American Express Business Card is no exception. To get the same 175,000-point introductory bonus on a Hilton consumer card, you’d need to shell out a $550 annual fee for the Hilton Honors American Express Aspire Card*.
Although the Aspire has a much higher annual fee, it does come out ahead in some other areas, such as a lower spending threshold to obtain the bonus ($4,000 in three months), at least one free night each year, more generous statement credits and complimentary Diamond status. If you’re eligible for both cards, it’s worth evaluating each of them for their different merits, but the overlap and the annual fees are probably high enough to only warrant picking one.
There’s also a mid-tier consumer Hilton card (the Hilton Honors American Express Surpass Card) and a no-annual-fee version with fewer bells and whistles (the Hilton Honors American Express Card).
The bottom line
Summer travel season is upon us, and many business owners are gearing up for fall conferences as well. Even holiday travel will be here before long. Since it usually takes a few months to get a new credit card and spend the required amount to earn the welcome bonus, it’s smart to plan well in advance of your potential trip.
You still have a few more days to nab the Hilton Honors American Express Business Card’s higher-than-usual sign-up bonus. Frequent Hilton guests will find a lot of everyday value in this card, so if you’re a business person who checks those boxes, consider applying before it’s too late.
Have a question about credit cards? E-mail me at ted.rossman@bankrate.com and I’d be happy to help.
The information about the Hilton Honors American Express Aspire Card has been collected independently by Bankrate. The card details have not been reviewed or approved by the issuer.
