Platinum Amex vs. Chase Sapphire Reserve: Which Card Wins?
Choosing the right travel rewards credit card can feel like navigating a maze. With so many options, it’s easy to get lost in the details. But if you’re looking for premium perks and valuable rewards, two cards consistently top the list: The Platinum Card® from American Express and the Chase Sapphire Reserve®.
Both cards offer impressive benefits, but they cater to different spending habits and travel styles. This comparison delves deep into the features of the Platinum Amex and the Chase Sapphire Reserve, helping you decide which card aligns best with your financial goals.
We’ll examine everything from annual fees and welcome bonuses to travel credits, airport lounge access, and everyday spending rewards. By the end, you’ll have a clear understanding of the strengths and weaknesses of each card, empowering you to make an informed decision. Get ready to explore the exciting world of premium credit cards!
Specs at a Glance
| Feature | Platinum Amex | Chase Sapphire Reserve |
|---|---|---|
| Annual Fee | High | High |
| Rewards on Travel | 5x on Flights (booked directly with airline or Amex Travel), 5x on prepaid hotels with Amex Travel | 5x on Flights (through Chase Ultimate Rewards), 10x on Hotels and Car Rentals (through Chase Ultimate Rewards) |
| Rewards on Dining | 1x | 3x |
| Rewards on Other Purchases | 1x | 1x |
| Travel Credit | Yes | Yes |
| Airport Lounge Access | Yes (Centurion Lounges, Priority Pass Select, and more) | Yes (Priority Pass Select, and more) |
| Hotel Benefits | Yes (Fine Hotels & Resorts, The Hotel Collection) | Yes (Luxury Hotel & Resort Collection) |
| Application of Points | Statement credit, travel, gift cards, merchandise | Statement credit, travel, gift cards, merchandise |
| Foreign Transaction Fees | None | None |
| Transfer Partners | Yes (Airline and Hotel partners) | Yes (Airline and Hotel partners) |
| Spending Requirement for Welcome Bonus | High | High |
| Additional Benefits | Uber credits, Saks Fifth Avenue credit, Entertainment credit | DoorDash and Instacart credits |
Feature-by-Feature Breakdown
Annual Fee
- Platinum Amex: The Platinum Card from American Express has a high annual fee, reflecting its premium benefits. This fee can be offset by utilizing the card’s credits and perks, but it’s a significant upfront cost.
- Chase Sapphire Reserve: The Chase Sapphire Reserve also carries a considerable annual fee, though generally lower than the Amex Platinum. It provides travel credits and other benefits to help justify the cost.
- Winner: Tie
Rewards on Travel & Dining
- Platinum Amex: Earns high rewards on flights booked directly with airlines or with Amex Travel. Rewards on other travel and dining are generally lower compared to the Sapphire Reserve.
- Chase Sapphire Reserve: Offers excellent rewards on travel and dining purchases, making it a strong choice for frequent travelers and foodies.
- Winner: Chase Sapphire Reserve
Travel Credits
- Platinum Amex: Offers various statement credits, including an annual airline fee credit and a credit for services like Uber and Saks Fifth Avenue.
- Chase Sapphire Reserve: Provides an annual travel credit that can be used for a wide range of travel purchases, making it more flexible.
- Winner: Tie
Airport Lounge Access
- Platinum Amex: Provides access to the American Express Global Lounge Collection, including Centurion Lounges (where available), Priority Pass Select, and other partner lounges.
- Chase Sapphire Reserve: Offers Priority Pass Select membership, granting access to a large network of airport lounges.
- Winner: platinum amex
Hotel Benefits
- Platinum Amex: Offers elite status and benefits at participating hotel chains through programs like Fine Hotels & Resorts.
- Chase Sapphire Reserve: Provides benefits through the Luxury Hotel & Resort Collection, offering perks like room upgrades and early check-in (when available).
- Winner: platinum amex
Transfer Partners
- Platinum Amex: Has a large network of transfer partners, allowing you to transfer points to various airline and hotel loyalty programs.
- Chase Sapphire Reserve: Offers a strong selection of transfer partners, including major airlines and hotel chains.
- Winner: Tie
Insurance & Protections
- Platinum Amex: Offers various travel and purchase protections, including trip delay insurance, baggage insurance, and purchase protection.
- Chase Sapphire Reserve: Provides similar insurance benefits, including trip cancellation/interruption insurance, baggage delay insurance, and purchase protection.
- Winner: Tie
Additional Perks
- Platinum Amex: Includes credits for services like Uber, Equinox, and Walmart+, and also provides access to exclusive experiences.
- Chase Sapphire Reserve: Features a credit for Global Entry or TSA PreCheck and offers benefits like DoorDash DashPass.
- Winner: platinum amex
Winner by Category
| Category | Winner |
|---|---|
| Overall Value (for some) | Tie |
| Travel Rewards | Chase Sapphire Reserve |
| Dining Rewards | Chase Sapphire Reserve |
| Airport Lounge Access | Platinum Amex |
| Luxury Perks | Platinum Amex |
| Ease of Use | Chase Sapphire Reserve |
What They Have in Common
- High Annual Fee: Both cards come with a significant annual fee, reflecting the premium benefits they offer. This fee must be offset by the value you receive from the card’s perks.
- Travel Rewards: Both cards provide strong rewards on travel purchases, helping cardholders earn points or miles that can be redeemed for future trips. They both offer bonus points on travel.
- Airport Lounge Access: Both cards offer airport lounge access, providing a more comfortable and convenient travel experience by allowing access to lounges worldwide.
- Hotel Benefits: Both cards grant access to perks with hotel programs, like room upgrades and other benefits. These perks can significantly enhance the value of hotel stays.
- No Foreign Transaction Fees: Both cards waive foreign transaction fees, making them ideal for international travel and purchases. This helps you save money when spending abroad.
- Transfer Partners: Both cards allow you to transfer points to a variety of airline and hotel partners, providing flexibility in redeeming rewards. This allows for potentially higher value rewards.
Platinum Amex Vs Chase Sapphire Reserve Buying Guide
Earning Rewards
Both cards offer robust rewards programs, but the structure differs. The Platinum Amex excels with its high rewards on travel booked through Amex Travel and select purchases. The Chase Sapphire Reserve provides a strong foundation with its points earning on travel and dining, along with bonus categories. Consider your spending habits; if you travel frequently and utilize Amex Travel, the Platinum may be superior. If you prefer broader rewards on dining and travel, along with more flexible redemption options, the Sapphire Reserve could be a better fit. Both cards offer valuable rewards, but the optimal choice depends on where you spend most.
Annual Fee & Value Proposition
The Platinum Amex has a higher annual fee, but it comes with a suite of perks, including statement credits for various services like airline incidental fees, Saks Fifth Avenue purchases, and entertainment subscriptions. The Chase Sapphire Reserve has a lower annual fee, making it more accessible, yet offers significant travel credits and benefits. Evaluate whether you can fully utilize the Platinum’s credits to offset the higher annual fee. If you’re unsure about maximizing those credits, the Sapphire Reserve’s simplicity and value proposition might be more appealing, especially for occasional travelers.
Travel Benefits & Perks
Both cards are packed with travel benefits. The Platinum Amex provides access to a vast network of airport lounges, including Centurion Lounges (when available) and Priority Pass Select. It also offers elite status with hotel chains. The Chase Sapphire Reserve provides a Priority Pass Select membership and offers a $300 annual travel credit, which simplifies benefit usage. Assess your travel style. If you prioritize lounge access and elite status, the Platinum Amex may be more suitable. If you prefer a straightforward travel credit, the Sapphire Reserve is very convenient. Both provide excellent travel insurance.
Redemption Options
The flexibility of redeeming rewards points is a key consideration. Amex points offer transfer partners, including airlines and hotels, potentially maximizing value. Chase Ultimate Rewards also provides valuable transfer options, with a diverse range of airline and hotel partners. Evaluate which transfer partners align with your travel preferences. Both cards allow you to redeem points for statement credits or purchases. However, the Sapphire Reserve offers a higher redemption value when booking travel through Chase Ultimate Rewards. Compare transfer partner availability and redemption rates to determine which card aligns better with your redemption strategy.
Additional Benefits
Beyond rewards and travel perks, consider additional benefits. The Platinum Amex offers benefits like concierge service, purchase protection, and return protection. The Chase Sapphire Reserve provides benefits like purchase protection, trip cancellation/interruption insurance, and baggage delay insurance. Review the fine print of each card’s benefits. Determine which benefits are most important to you. If concierge service and a broader range of shopping-related protections are key, the Platinum may be better. If you value robust travel insurance, the Sapphire Reserve could be more beneficial. Both cards offer substantial value beyond rewards.
Eligibility Requirements
Understanding the eligibility criteria is crucial. The Platinum Amex typically requires excellent credit. The Chase Sapphire Reserve also necessitates good to excellent credit. Consider your credit score and history. Research the specific credit requirements for each card. Both cards have high annual fees, suggesting a need for substantial creditworthiness. If you’re unsure about your credit standing, consider improving it before applying. Compare the specific requirements of each card to determine which one you are more likely to be approved for. Also, consider the impact of a hard credit pull on your score.
Who Should Buy What?
Buy Platinum Amex If…
- You value premium travel perks like Centurion Lounge access and hotel elite status.
- You frequently shop at Saks Fifth Avenue and can utilize the annual credit.
- You regularly use Uber and can take advantage of the monthly credit.
- You prioritize luxury and are willing to pay a higher annual fee for exclusive benefits.
Buy Chase Sapphire Reserve If…
- You prefer a more straightforward rewards structure with strong earning potential on dining.
- You value the flexibility of Chase Ultimate Rewards and its transfer partners.
- You frequently dine out and want to maximize rewards on those purchases.
- You’re looking for a card that offers strong travel insurance and purchase protection.
Frequently Asked Questions
What are the key differences in earning rewards?
The Platinum Amex excels with high rewards on travel booked through Amex Travel and select purchases. The Chase Sapphire Reserve offers bonus points on travel and dining. Amex often has higher multipliers in specific categories, while Chase provides a more general approach with its travel and dining bonus. The best choice depends on where you spend most, with Amex being better for those who travel frequently.
How do the annual fees compare?
The Platinum Amex has a higher annual fee than the Chase Sapphire Reserve. This higher fee is offset by statement credits for various services. The Sapphire Reserve has a lower annual fee and provides a $300 annual travel credit. The difference in fees directly impacts the card’s value proposition. Consider how you can utilize the statement credits.
What travel benefits do these cards offer?
Both cards offer strong travel benefits. The Platinum Amex provides access to airport lounges (including Centurion Lounges) and hotel elite status. The Chase Sapphire Reserve offers a Priority Pass Select membership and a $300 annual travel credit. Consider your travel patterns and the value you place on lounge access versus a straightforward travel credit.
How flexible are the redemption options?
Both cards provide flexible redemption options. Amex points offer airline and hotel transfer partners. Chase Ultimate Rewards also offers airline and hotel transfer partners, in addition to options like statement credits or booking travel directly. Chase offers a higher redemption value when booking travel through their portal. Consider the transfer partners.
What additional benefits do these cards offer?
The Platinum Amex offers concierge service, purchase protection, and return protection. The Chase Sapphire Reserve provides purchase protection, trip cancellation/interruption insurance, and baggage delay insurance. These benefits extend beyond rewards, providing valuable financial protection. Evaluate which benefits are most important to your lifestyle and spending habits.
What are the credit score requirements?
Both cards generally require good to excellent credit scores for approval. The Platinum Amex typically requires a higher credit score. Review your credit report and ensure your score meets the requirements. If your credit is not strong, consider improving it before applying. High annual fees indicate the need for substantial creditworthiness.
Which card is better for frequent travelers?
The answer depends on your travel style. The Platinum Amex can be better if you value airport lounge access and hotel elite status. The Chase Sapphire Reserve is a strong option if you prefer a simplified approach with a travel credit and rewards on dining. Consider which card’s benefits best match your travel habits.
Final Verdict
Both the Platinum Amex and Chase Sapphire Reserve are premium travel cards with significant benefits. The Platinum Amex offers a wider array of perks, including lounge access and statement credits, making it ideal for those who can maximize its value. The Chase Sapphire Reserve, with its lower annual fee and straightforward travel credit, provides a more accessible option for those seeking a balance of rewards and travel benefits.
Winner: Chase Sapphire Reserve