Amex Platinum vs. Sapphire Preferred: Which Card Wins?
Choosing the right credit card can feel overwhelming, especially with so many options promising rewards and perks. If you’re considering premium travel cards, you’ve likely encountered the American Express Platinum Card and the Chase Sapphire Preferred® Card. These two cards are consistently ranked among the best, but they cater to different spending habits and offer distinct benefits.
The Amex Platinum is known for its luxury travel perks, while the Sapphire Preferred focuses on earning valuable points for travel and other rewards. Deciding which card is right for you requires a closer look at their features, fees, and potential value. This comparison will break down the key differences to help you make an informed decision.
Whether you’re a seasoned traveler or just starting to explore the world of rewards cards, understanding the nuances of the Amex Platinum vs. Sapphire Preferred is crucial. We’ll delve into everything from annual fees and welcome bonuses to ongoing rewards and travel protections, ensuring you choose the card that best aligns with your financial goals and lifestyle.
Specs at a Glance
| Feature | Amex Platinum | Sapphire Preferred |
|---|---|---|
| Annual Fee | High | Moderate |
| Rewards on Travel | 5x on Flights (booked directly or with Amex Travel), 5x on prepaid hotels with Amex Travel | 2x on Travel |
| Rewards on Dining | 1x | 3x |
| Rewards on Other Spending | 1x | 1x |
| Welcome Bonus | High | Moderate |
| Foreign Transaction Fees | None | None |
| Airport Lounge Access | Yes (Centurion, Priority Pass, etc.) | No |
| Travel Credits | Yes (Various) | No |
| Hotel Benefits | Yes (Hotel Collection, Fine Hotels & Resorts) | No |
| Purchase Protection | Yes | Yes |
| Card Design | Premium Metal | Plastic |
| APR | Varies | Varies |
Feature-by-Feature Breakdown
Annual Fee
- Amex Platinum: Has a high annual fee, reflecting its premium benefits. This fee can be offset by utilizing its various credits and perks, but it’s a significant upfront cost.
- Sapphire Preferred: Features a much lower annual fee, making it more accessible. This fee is often waived for the first year, providing an introductory period with no annual cost.
- Winner: Sapphire Preferred
Rewards on Everyday Spending
- Amex Platinum: Rewards on everyday spending are generally lower. While it offers points on certain categories like flights booked directly with airlines or through Amex Travel, it doesn’t excel in this area.
- Sapphire Preferred: Offers a higher rewards rate on everyday spending categories like dining, select streaming services, and travel. This makes it a great card for earning points on common purchases.
- Winner: Sapphire Preferred
Travel Rewards & Benefits
- Amex Platinum: Provides extensive travel perks, including airport lounge access (Centurion Lounges, Priority Pass Select), airline fee credits, and hotel elite status. It offers valuable benefits for frequent travelers.
- Sapphire Preferred: Offers travel benefits like a travel portal for booking, trip cancellation/interruption insurance, and no foreign transaction fees. While not as extensive as the Platinum, it’s still a solid option.
- Winner: amex platinum
Sign-Up Bonus
- Amex Platinum: Typically offers a high sign-up bonus, but it often requires significant spending to achieve the bonus. This bonus can be worth a considerable value.
- Sapphire Preferred: Offers a lower, but still attractive, sign-up bonus. The spending requirement to earn the bonus is generally easier to achieve.
- Winner: Tie
Spending Credits and Perks
- Amex Platinum: Comes with various spending credits, such as credits for Uber, Saks Fifth Avenue, and other services, offsetting the annual fee. These credits require active use to realize their value.
- Sapphire Preferred: Doesn’t offer spending credits, focusing instead on earning rewards on spending. This simplifies the card’s value proposition.
- Winner: amex platinum
Interest Rates
- Amex Platinum: Does not offer interest rates on purchases as it is a charge card, requiring the balance to be paid in full each month. This can be a benefit for those who pay their balance in full.
- Sapphire Preferred: Offers interest rates as it is a credit card. If you carry a balance, interest will be charged.
- Winner: Tie
Foreign Transaction Fees
- Amex Platinum: Has no foreign transaction fees, making it ideal for international travel and purchases.
- Sapphire Preferred: Has no foreign transaction fees, also making it ideal for international travel and purchases.
- Winner: Tie
Card Design & Prestige
- Amex Platinum: Has a prestigious card design and is often perceived as a status symbol.
- Sapphire Preferred: Has a sleek, modern card design that is less flashy.
- Winner: amex platinum
Winner by Category
| Category | Winner |
|---|---|
| Travel Rewards (Flights & Hotels) | Amex Platinum |
| Dining Rewards | Sapphire Preferred |
| Airport Lounge Access | Amex Platinum |
| Annual Fee | Sapphire Preferred |
| Overall Value (for most users) | Sapphire Preferred |
| Premium Benefits | Amex Platinum |
What They Have in Common
- No Foreign Transaction Fees: Both cards do not charge foreign transaction fees, making them ideal for international travel.
- Purchase Protection: Both cards offer purchase protection, covering eligible purchases against damage or theft.
- Rewards on Travel: Both cards offer rewards on travel spending, although the earning rates and specific categories differ.
- Fraud Protection: Both cards provide fraud protection, offering security against unauthorized charges.
- Global Acceptance: Both cards are widely accepted worldwide, ensuring ease of use for purchases.
Amex Platinum Vs Sapphire Preferred Buying Guide
Earning Rewards
Both the Amex Platinum and the Sapphire Preferred offer compelling rewards programs, but they differ significantly. The Amex Platinum excels in categories like travel and dining, offering high multipliers on flights booked directly with airlines or through Amex Travel, as well as on prepaid hotels booked through Amex Travel. The Sapphire Preferred provides bonus points on travel, dining, and select streaming services. Consider your spending habits to determine which card aligns best with your lifestyle and spending patterns. Think about where you spend the most money and which rewards program will provide the greatest return on your spending.
Annual Fee and Value
The annual fee is a significant factor to consider. The Amex Platinum has a considerably higher annual fee than the Sapphire Preferred. However, the Platinum offers valuable perks, such as statement credits for eligible purchases, airport lounge access, and other benefits that can offset the fee if utilized effectively. The Sapphire Preferred has a lower annual fee, making it a more accessible choice. Assess whether the benefits of the Platinum justify its higher cost based on your spending and travel habits. Think about how often you will use the benefits to calculate if it’s worth it.
Travel Benefits
Both cards offer travel benefits, but their focus and scope vary. The Amex Platinum provides premium travel perks, including access to a network of airport lounges, travel credits, and concierge services. It also offers a higher level of travel insurance coverage. The Sapphire Preferred offers travel insurance, but its lounge access is more limited. Consider your frequency of travel, preferred travel style, and the importance of specific benefits like lounge access and travel insurance when evaluating these cards. Consider which card’s travel benefits are more valuable for your lifestyle.
Spending Categories and Bonuses
Understanding the bonus categories is crucial for maximizing rewards. The Amex Platinum offers high rewards on select travel and dining purchases, as well as some other categories. The Sapphire Preferred provides bonus points on travel, dining, and streaming services. Review your spending patterns across these categories to determine which card’s bonus structure aligns best with your spending habits. Consider whether your spending aligns with the bonus categories offered by each card. The categories should influence your decision.
Redemption Options
The flexibility of redeeming rewards is another key consideration. Both cards offer a variety of redemption options, including travel, statement credits, gift cards, and merchandise. The Amex Platinum allows for transferring points to various airline and hotel partners, providing potentially higher value for travel redemptions. The Sapphire Preferred also offers transfer partners, but its point values may vary. Consider which redemption options are most appealing to you and the potential value you can get from each card’s rewards program. Think about the flexibility you desire.
Additional Perks and Benefits
Beyond rewards and travel benefits, consider additional perks. The Amex Platinum offers various credits, such as for entertainment, and shopping. The Sapphire Preferred offers benefits, such as purchase protection and extended warranty coverage. Evaluate the value of these additional perks and how they align with your needs and preferences. Consider how these perks can enhance your overall experience. Think about the additional benefits that are most important to you.
Who Should Buy What?
Buy Amex Platinum If…
- You value premium travel benefits like airport lounge access and hotel perks.
- You spend a significant amount on flights and prepaid hotels.
- You are willing to pay a high annual fee for the associated benefits and credits.
- You want a card with a premium metal design.
Buy Sapphire Preferred If…
- You want a card with a lower annual fee.
- You spend a moderate amount on travel and dining.
- You prefer a card with a simpler rewards structure.
- You are looking for a card to start with before upgrading to a higher tier card.
Frequently Asked Questions
What are the key differences between the Amex Platinum and Sapphire Preferred?
The Amex Platinum has a higher annual fee and offers premium benefits, such as airport lounge access, travel credits, and concierge services. The Sapphire Preferred has a lower annual fee and focuses on earning rewards on travel, dining, and streaming services. The Platinum is geared toward luxury travelers, while the Preferred is for everyday spending.
Which card is better for travel rewards?
Both cards are great for travel rewards, but the Amex Platinum may offer more value for frequent travelers due to its higher rewards on travel purchases and access to various airport lounges. The Sapphire Preferred still offers valuable rewards on travel and provides more flexibility with point redemption.
What are the annual fees for these cards?
The Amex Platinum has a significantly higher annual fee. The Sapphire Preferred has a much lower annual fee, making it more accessible. The lower fee of the Sapphire Preferred makes it a more attractive option for people who are sensitive to the cost of the annual fee.
How do I redeem points with each card?
Both cards offer various redemption options, including travel, statement credits, gift cards, and merchandise. The Amex Platinum allows for transferring points to various airline and hotel partners, potentially maximizing the value of your points. The Sapphire Preferred also offers transfer partners, but the point values may vary.
Which card offers better travel insurance?
The Amex Platinum typically provides more comprehensive travel insurance, including coverage for trip cancellation, trip interruption, and baggage delay. The Sapphire Preferred still offers travel insurance, but the coverage may be less extensive. The Platinum offers more security with regards to travel.
What are the eligibility requirements for each card?
Both cards require good to excellent credit scores for approval. However, the specific requirements may vary depending on the issuer and your individual financial profile. Meeting these requirements is essential for being approved for either card. It’s important to check your credit score before applying.
Can I transfer points to other loyalty programs?
Yes, both cards allow you to transfer points to a variety of airline and hotel loyalty programs. The Amex Platinum offers a wider selection of transfer partners. The ability to transfer points gives you more flexibility and the chance to get more value from your rewards. The transfer partners vary by issuer.
Final Verdict
The Amex Platinum excels in luxury travel benefits, including lounge access and premium perks, making it ideal for frequent travelers willing to pay a high annual fee. The Sapphire Preferred offers excellent value with a lower annual fee, focusing on everyday spending with rewards on travel, dining, and streaming. It is more suitable for people who want to save money.
Winner: Sapphire Preferred