American Express® Business Platinum vs Discover it® Student Cash Back
Side-by-side comparison
| American Express® Business Platinum | Discover it® Student Cash Back | |
|---|---|---|
| Annual fee | $895 | No annual fee |
| Welcome offer | Up to 300,000 Membership Rewards® Points | Cashback Match in year 1 |
| Advertising | 1% | 1% |
| Shipping | 1% | 1% |
| Office supplies | 1% | 1% |
| Phone & internet | 1% | 1% |
| Travel | 5% | 1% |
| Everything else | 1% | 1% |
| Est. yearly rewards* | $642 | $450 |
| Points type | Transfers to airlines & hotels | Cash back only |
| Network | Amex | Discover |
*Estimated yearly rewards on typical household spending, every point valued at a flat 1 cent. Verified June 2026. See your own numbers in the calculator.
The verdict
On a typical year of business spending, the American Express® Business Platinum earns about $642 a year in rewards and the Discover it® Student Cash Back about $450, valuing every point at a flat 1 cent. The American Express® Business Platinum charges $895, but carries about $1,565 in annual statement credits that offset it for anyone who uses them. The Discover it® Student Cash Back has no annual fee, so its rewards are all profit. Counting rewards, fees, and any credits, the American Express® Business Platinum delivers more total value, about $80 a year more for a typical spender, mostly because it earns more where you spend most, on travel. The bigger difference is the ceiling: the American Express® Business Platinum earns points you can move to travel partners for outsized value, while the Discover it® Student Cash Back pays plain cash back. Favor the American Express® Business Platinum if you will use travel transfers, the Discover it® Student Cash Back if you want simplicity. On the sign-up bonus, the American Express® Business Platinum currently has the larger welcome offer. A welcome bonus is a one-time event, so weigh it apart from the ongoing rewards.
Pick the American Express® Business Platinum if your spending leans toward travel.