Chase Sapphire Preferred vs. Amex Platinum: Which Card Wins?
Choosing the right travel rewards credit card can feel like navigating a maze. With so many options, how do you know which one is the perfect fit for your spending habits and travel goals? Two of the most popular contenders, the Chase Sapphire Preferred and the Amex Platinum, often top the list.
Both cards offer a suite of benefits designed to enhance your travel experiences and reward your spending. They come with annual fees, and the rewards structures and perks differ significantly. Understanding these differences is crucial before making a decision.
This comparison dives deep into the Chase Sapphire Preferred and the American Express Platinum, exploring their rewards programs, benefits, fees, and overall value proposition. We’ll help you determine which card aligns best with your lifestyle and helps you maximize your rewards.
Specs at a Glance
| Feature | Chase Preferred | Amex Platinum |
|---|---|---|
| Annual Fee | Yes | Yes |
| Rewards on Travel | Yes | Yes |
| Rewards on Dining | Yes | Yes |
| Transfer Partners | Yes | Yes |
| Foreign Transaction Fees | Yes | No |
| Airport Lounge Access | No | Yes |
| Travel Insurance | Yes | Yes |
| Purchase Protection | Yes | Yes |
| Statement Credits | No | Yes |
| Hotel Benefits | No | Yes |
| Concierge Service | No | Yes |
| Credit Score Needed | Good to Excellent | Excellent |
Feature-by-Feature Breakdown
Annual Fee
- Chase Preferred: Typically has a moderate annual fee, making it more accessible. This fee contributes to the card’s benefits and rewards program. A lower annual fee can be a pro for budget-conscious users, but it may offer fewer premium perks compared to cards with higher fees.
- Amex Platinum: Features a significantly higher annual fee, reflecting its premium status and extensive benefits. This fee grants access to a wide array of travel and lifestyle perks. The high fee can be a con if you don’t utilize the benefits enough to offset the cost.
- Winner: chase preferred
Rewards on Spending
- Chase Preferred: Offers rewards points on spending, often with bonus categories like travel, dining, and streaming services. The point-earning rates are generally solid. The value of points when redeemed can vary depending on the redemption method.
- Amex Platinum: Provides rewards points and statement credits. Rewards are often in the form of membership rewards points. Some categories earn bonus points. The value of points is variable.
- Winner: amex platinum
Travel Benefits
- Chase Preferred: Includes travel benefits like travel insurance, and trip cancellation/interruption coverage. These benefits are valuable for frequent travelers. Coverage levels may be lower than those offered by premium cards.
- Amex Platinum: Offers extensive travel benefits, including airport lounge access (e.g., Priority Pass, Centurion Lounges), hotel perks, and travel credits. These benefits significantly enhance the travel experience. The sheer volume of benefits can be overwhelming for some users.
- Winner: amex platinum
Airport Lounge Access
- Chase Preferred: Typically does not include airport lounge access.
- Amex Platinum: Grants access to a network of airport lounges, including the exclusive Centurion Lounges and Priority Pass lounges. This benefit is a major draw for frequent flyers. Lounge access can be crowded during peak travel times.
- Winner: amex platinum
Hotel Benefits
- Chase Preferred: May offer hotel benefits through partnerships.
- Amex Platinum: Provides hotel benefits such as elite status, hotel credits, and upgrades. This can enhance the hotel experience significantly. Benefits vary based on the hotel and booking method.
- Winner: amex platinum
Dining & Lifestyle Credits
- Chase Preferred: Might offer limited dining or lifestyle credits.
- Amex Platinum: Includes various statement credits for dining, entertainment, and other lifestyle expenses. These credits can help offset the annual fee. Credits often require enrollment and specific spending requirements.
- Winner: amex platinum
Introductory Bonus
- Chase Preferred: Offers a sign-up bonus when you meet the spending requirements. This bonus can be a significant boost to the value of the card. Bonus amounts are subject to change.
- Amex Platinum: Typically offers a more substantial sign-up bonus, but often requires higher spending to earn. This can be a huge value if you meet the spending requirements. High spending requirements can be difficult for some users.
- Winner: amex platinum
Additional Perks
- Chase Preferred: Provides purchase protection, extended warranty, and other perks.
- Amex Platinum: Includes a wide range of additional perks, such as access to exclusive events, concierge service, and premium customer service. These perks cater to a luxury lifestyle. Some perks may not be relevant to all users.
- Winner: amex platinum
Winner by Category
| Category | Winner |
|---|---|
| Annual Fee | Chase Preferred |
| Travel Rewards | Amex Platinum |
| Dining Rewards | Chase Preferred |
| Transfer Partners | Tie |
| Airport Lounge Access | Amex Platinum |
| Statement Credits | Amex Platinum |
| Overall Value | It depends on your spending habits and priorities |
What They Have in Common
- Rewards on Travel: Both cards offer rewards on travel purchases, allowing cardholders to earn points or miles that can be redeemed for future travel. This is a key benefit for frequent travelers.
- Rewards on Dining: Both cards provide rewards on dining expenses, making them attractive for those who frequently eat out or order takeout. This helps cardholders accumulate points faster.
- Transfer Partners: Both cards allow you to transfer points to various airline and hotel loyalty programs, offering flexibility in redeeming your rewards. This can maximize the value of your points.
- Travel Insurance: Both cards offer some form of travel insurance, providing coverage for situations like trip cancellations or delays. This adds peace of mind when traveling.
- Purchase Protection: Both cards include purchase protection, safeguarding your purchases against damage or theft within a certain timeframe. This offers added security for your purchases.
Chase Preferred Vs Amex Platinum Buying Guide
Earning Rewards
The Chase Sapphire Preferred excels in earning rewards on travel and dining, offering 2x points on these categories. It also provides a valuable bonus on other spending. American Express Platinum, on the other hand, boasts higher rewards in specific categories like travel booked through Amex Travel, and select purchases. The Amex Platinum card often has a higher earning potential on big-ticket items and luxury experiences. Consider your spending habits and which categories align best with your lifestyle to determine the optimal card for maximizing rewards.
Both cards offer welcome bonuses that can be substantial. The Chase Sapphire Preferred offers a competitive bonus, while the Amex Platinum often features a more significant bonus, though with a much higher spending requirement. These bonuses can be a great way to jumpstart your rewards journey. The ongoing reward structure is the key consideration for long-term value, as the initial bonus is a one-time benefit.
Annual Fees & Benefits
The Chase Sapphire Preferred has a moderate annual fee, making it accessible for many cardholders. It offers a suite of travel and purchase protections, as well as access to the Chase Ultimate Rewards portal, enhancing its overall value. The Amex Platinum card has a much higher annual fee, reflecting its premium benefits. This includes statement credits for various purchases like travel, entertainment, and shopping. The value of these credits can offset the annual fee, but require active usage.
The Amex Platinum also offers perks like airport lounge access and concierge services, appealing to frequent travelers. Both cards provide travel insurance and purchase protection, but the specifics and coverage levels differ. Evaluating the benefits against the annual fee is crucial. Consider how often you will utilize the benefits to determine the true value of each card.
Travel Perks & Protections
Both cards offer travel perks, but the scope and value vary significantly. The Chase Sapphire Preferred provides travel insurance, including trip cancellation/interruption coverage and baggage delay insurance. The Amex Platinum provides similar insurance benefits, but it also includes access to airport lounges, such as the Centurion Lounges and Priority Pass, greatly enhancing the travel experience. It can also offer credits for travel-related expenses.
The Amex Platinum may offer more premium travel benefits, like hotel elite status and credits for services like Global Entry or TSA PreCheck. The Chase Sapphire Preferred offers a more straightforward approach, focusing on earning rewards and providing basic travel protections. The choice depends on your travel style and the value you place on luxury and convenience while traveling.
Redemption Options
Chase Ultimate Rewards points offer flexible redemption options, including travel, cash back, gift cards, and merchandise. You can transfer points to airline and hotel partners at a 1:1 ratio, providing significant value for travel bookings. Amex Membership Rewards points also provide versatile redemption options, including travel, statement credits, and merchandise. Like Chase, Amex offers transfer partners, allowing you to maximize the value of your points.
The value you get per point varies depending on how you redeem them. Transferring points to airline partners often yields the highest value, especially for premium travel. Both programs offer user-friendly platforms for redeeming points. Consider the value of various redemption options, as well as the ease of use, when choosing between the cards.
Eligibility & Approval Odds
The Chase Sapphire Preferred generally requires good to excellent credit. Having a credit score of 670 or higher will increase the chances of approval. It is often easier to obtain than the Amex Platinum. The Amex Platinum card requires excellent credit, generally a credit score of 700 or higher. Approval may depend on factors beyond just credit score.
Amex often has stricter approval criteria, and your spending and payment history are also considered. Building a strong credit profile and maintaining a positive relationship with financial institutions will increase your chances of getting approved. It’s essential to check your credit score and review your credit report before applying for either card.
Spending Habits & Suitability
The Chase Sapphire Preferred is a great option for those who spend heavily on travel and dining, with a moderate annual fee. It is a good option for those seeking valuable rewards without a high annual fee. The Amex Platinum is best for those who travel frequently and can take advantage of the premium benefits and statement credits to offset the higher annual fee. It is ideal for luxury-minded travelers.
Consider your spending habits, travel frequency, and the value you place on luxury perks when choosing between these cards. If you spend heavily on travel and dining and value simplicity, the Chase Sapphire Preferred may be a better fit. If you frequently travel and can utilize premium benefits, the Amex Platinum offers significant value. Evaluate both cards based on your lifestyle.
Who Should Buy What?
Buy Chase Preferred If…
- You prefer a lower annual fee.
- You want to earn rewards on travel and dining, but don’t need premium travel perks.
- You prefer a simpler rewards program with fewer complexities.
- You have a good credit score.
Buy Amex Platinum If…
- You are a frequent traveler and value airport lounge access and other travel benefits.
- You are willing to pay a higher annual fee for premium perks.
- You want access to statement credits for various services, such as travel or shopping.
- You have an excellent credit score.
Frequently Asked Questions
What is the annual fee for the Chase Sapphire Preferred?
The Chase Sapphire Preferred has a moderate annual fee, often considered competitive within the travel rewards card market. This fee covers access to various benefits, including travel insurance, purchase protection, and the Chase Ultimate Rewards portal, which offers flexible redemption options and transfer partners. The fee contributes to the overall value proposition of the card.
What is the annual fee for the Amex Platinum?
The Amex Platinum card has a high annual fee, reflecting its premium benefits and perks. This fee grants access to a wide array of benefits, including airport lounge access, statement credits for various purchases, travel insurance, and concierge services. It’s important to evaluate if the value of the benefits justifies the annual fee.
What are the primary rewards on the Chase Sapphire Preferred?
The Chase Sapphire Preferred earns 2x points on travel and dining, making it ideal for those who spend in these categories. It also earns a valuable bonus on other spending categories. These points can be redeemed for travel, cash back, or transferred to airline and hotel partners, maximizing their value. The rewards structure is designed for ease of use.
What are the primary rewards on the Amex Platinum?
The Amex Platinum earns rewards in various categories, including travel booked through Amex Travel. It offers elevated rewards on select purchases, such as airline tickets and prepaid hotels. The card provides bonus rewards on specific spending categories, and often has a generous welcome bonus. The rewards structure is geared towards premium spending.
Does the Chase Sapphire Preferred offer airport lounge access?
The Chase Sapphire Preferred does not offer direct airport lounge access. However, cardholders can access airport lounges by utilizing their points to book travel or by purchasing a Priority Pass Select membership. While not a direct benefit, the Ultimate Rewards program provides flexibility and options for enjoying airport lounges. The card focuses on rewards.
Does the Amex Platinum offer airport lounge access?
Yes, the Amex Platinum offers access to various airport lounges, including the Centurion Lounges, Priority Pass Select lounges, and other partner lounges. This is a significant perk for frequent travelers, providing a comfortable and convenient experience. The lounge access is a key feature of the card’s value proposition.
Which card is better for international travel?
Both cards are generally good for international travel, but the Amex Platinum often offers more premium benefits, such as access to airport lounges. Both cards typically have no foreign transaction fees, making them suitable for purchases abroad. The specific benefits and perks for international travel depend on your personal needs.
Final Verdict
Both the Chase Sapphire Preferred and the Amex Platinum offer distinct advantages. The Chase Sapphire Preferred provides excellent value for its annual fee, with strong rewards on travel and dining. The Amex Platinum card offers premium perks, including lounge access and statement credits. The best choice depends on spending habits and travel preferences. Consider the benefits most valuable to you.
The Chase Sapphire Preferred is a great choice for those seeking a card with valuable rewards and a reasonable annual fee. The Amex Platinum is better suited for frequent travelers who can maximize the premium benefits to offset its higher cost.
Winner: Chase Sapphire Preferred