Chase Reserve Card vs. Amex Platinum: Which Reigns?
Dreaming of luxurious travel perks and exclusive experiences? You’ve likely stumbled upon the Chase Sapphire Reserve® Card and the American Express® Platinum Card. Both cards promise a world of benefits, but choosing the right one can feel like navigating a maze of points, rewards, and annual fees.
This in-depth comparison dives deep into the features, benefits, and drawbacks of the Chase Reserve Card versus the Amex Platinum. We’ll explore everything from earning potential and redemption options to travel insurance and lifestyle perks. This will help you decide which card aligns best with your spending habits and travel goals.
Prepare to uncover the secrets of these premium credit cards, and discover which one deserves a place in your wallet. Get ready to unlock a world of elevated experiences and decide which card is the champion in the battle of the Chase Reserve Card vs. Amex Platinum.
Specs at a Glance:
| Feature | Chase Reserve | Amex Platinum |
|---|---|---|
| Annual Fee | $550 | $695 |
| Welcome Bonus | High Points Bonus | High Points Bonus |
| Travel Credit | $300 Annual Travel Credit | Various Credits (e.g., Airline, Hotel) |
| Airport Lounge Access | Priority Pass Select, Chase Lounges | Centurion Lounges, Priority Pass Select, Delta Sky Club |
| Hotel Benefits | Luxury Hotel & Resort Collection | Fine Hotels & Resorts, Hotel Collection |
| Earning Rate on Travel | 5x Points | 5x Points (on flights booked directly with airlines or with Amex Travel) |
| Earning Rate on Dining | 3x Points | 1x Point |
| Other Earning Categories | 3x Points on Other Travel | 1x Point |
| Foreign Transaction Fees | None | None |
| Transfer Partners | Yes (Airlines and Hotels) | Yes (Airlines and Hotels) |
| Card Design | Metal | Metal |
| Additional Benefits | Trip Cancellation/Interruption Insurance, Purchase Protection | Uber Credits, Saks Fifth Avenue Credits, Entertainment Benefits |
Feature-by-Feature Breakdown
Annual Fee
- Chase Reserve Card: $550 annual fee. This fee is substantial and should be weighed against the card’s benefits. However, it unlocks a lot of perks.
- Amex Platinum: $695 annual fee (See Rates & Fees). This is a very high annual fee, making the card suitable for those who can maximize its benefits. It’s important to consider if you’ll actually utilize the perks.
- Winner: Chase Reserve
Sign-Up Bonus
- Chase Reserve Card: Offers a valuable sign-up bonus, often in the form of Ultimate Rewards points, which can be redeemed for travel or other rewards. The bonus can provide significant initial value.
- Amex Platinum: Provides a substantial welcome bonus, usually in Membership Rewards points, which can also be redeemed for travel or other rewards. The bonus can offer significant value.
- Winner: Tie
Travel Rewards & Benefits
- Chase Reserve Card: Offers a high rewards rate on travel and dining, along with benefits like airport lounge access (Priority Pass Select), travel insurance, and statement credits for travel purchases. The benefits are good, but some are limited.
- Amex Platinum: Provides a high rewards rate on flights booked directly with airlines or through Amex Travel, plus benefits such as airport lounge access (Centurion Lounges, Priority Pass Select, and others), hotel perks (e.g., Fine Hotels & Resorts), and travel insurance. The lounge access is very good.
- Winner: Amex Platinum
Everyday Spending Rewards
- Chase Reserve Card: Earns rewards on everyday spending categories like dining and travel. These rewards accumulate quickly and can be redeemed for various rewards.
- Amex Platinum: Rewards are more limited on everyday spending, with the best rewards focused on travel and select purchases. The rewards structure is less favorable than some other cards for everyday purchases.
- Winner: Chase Reserve
Airport Lounge Access
- Chase Reserve Card: Provides access to Priority Pass Select lounges, and sometimes other lounges. This gives cardholders the ability to relax before or between flights.
- Amex Platinum: Offers access to Centurion Lounges (where available), Priority Pass Select lounges, and other lounges, providing a wide array of options for travelers. The Centurion Lounges are a major draw.
- Winner: Amex Platinum
Hotel Benefits
- Chase Reserve Card: Offers some hotel benefits, such as a statement credit for hotel stays booked through Chase Ultimate Rewards. This can offset some expenses.
- Amex Platinum: Offers hotel perks like access to Fine Hotels & Resorts and The Hotel Collection, which provide benefits such as room upgrades, early check-in/late check-out, and complimentary amenities. These perks add significant value to hotel stays.
- Winner: Amex Platinum
Additional Perks and Credits
- Chase Reserve Card: Includes benefits such as a $300 annual travel credit, application fee credit for Global Entry or TSA PreCheck, and DoorDash credits. This provides a diverse set of benefits.
- Amex Platinum: Provides various statement credits, including credits for Uber, Saks Fifth Avenue, and other services. These credits can offset the annual fee, but require active utilization.
- Winner: Tie
Transfer Partners
- Chase Reserve Card: Allows you to transfer Ultimate Rewards points to various airline and hotel partners, providing flexibility in redeeming points for travel. This is a very valuable feature.
- Amex Platinum: Provides the ability to transfer Membership Rewards points to a wide range of airline and hotel partners, providing significant flexibility and potential for maximizing the value of points. The transfer partners are extensive.
- Winner: Tie
Winner by Category:
| Category | Winner |
|---|---|
| Annual Fee | Chase Reserve |
| Welcome Bonus | Tie |
| Travel Credit | Tie (depends on usage) |
| Airport Lounge Access | Amex Platinum (for Centurion Lounges) |
| Hotel Benefits | Tie |
| Earning Rate on Travel | Amex Platinum (for flights) |
| Earning Rate on Dining | Chase Reserve |
| Other Earning Categories | Chase Reserve |
| Additional Benefits | Amex Platinum |
What They Have in Common:
- High Annual Fee: Both cards come with a significant annual fee, reflecting their premium status and associated benefits. This fee covers the cost of perks and services offered.
- Rewards on Travel: Both cards offer generous rewards on travel spending, making them appealing to frequent travelers. This can significantly boost point accumulation.
- Airport Lounge Access: Both provide access to airport lounges, offering a comfortable space to relax or work while waiting for flights. This is a key benefit for frequent flyers.
- No Foreign Transaction Fees: Both cards waive foreign transaction fees, which can save money when making purchases abroad. This is beneficial for international travel.
- Transferable Points: Both allow you to transfer points to various airline and hotel loyalty programs, potentially increasing the value of your points. This adds flexibility in redeeming rewards.
- Luxury Hotel Benefits: Both offer perks at luxury hotels, such as room upgrades and free breakfast. This enhances the travel experience.
Chase Reserve Card Vs Amex Platinum Buying Guide
Earning Rewards
Both the Chase Sapphire Reserve and the American Express Platinum card offer impressive rewards programs, but they differ in their earning structures. The Chase Sapphire Reserve excels with its flexible Ultimate Rewards points, offering bonus categories like travel and dining. These points can be redeemed for travel through Chase’s portal at a higher value or transferred to airline and hotel partners. The Amex Platinum, while offering rewards on purchases, focuses more on benefits. It earns Membership Rewards points, known for their transfer value to various travel partners, but has a different bonus structure that focuses on select categories like airfare booked directly with airlines and prepaid hotels. Consider your spending habits to determine which reward structure aligns best with your needs.
The Chase Sapphire Reserve provides a generous welcome bonus, and its ongoing rewards in key spending categories can help you accumulate points relatively quickly. However, the Amex Platinum’s focus on premium benefits also adds value, particularly for frequent travelers who value airport lounge access and other perks. Ultimately, the best card depends on your personal spending and travel preferences. Evaluate the bonus categories and potential redemption options before making your decision.
Travel Benefits
Both cards are packed with travel benefits, but the specifics vary. The Chase Sapphire Reserve offers a $300 annual travel credit, which automatically reimburses travel-related purchases. It also includes primary auto rental collision damage waiver coverage and trip delay/cancellation insurance. The Amex Platinum boasts a broader suite of travel perks, including access to a vast network of airport lounges, like the Centurion Lounges (where available) and Priority Pass Select. It also offers a statement credit for Global Entry or TSA PreCheck. The Amex Platinum’s travel benefits are geared towards luxury and convenience, while the Chase Sapphire Reserve provides more straightforward travel-related protection and a simpler credit structure.
Amex Platinum also has benefits like hotel elite status and credit for services like Uber and Saks Fifth Avenue. Consider which travel perks align with your travel style and how often you travel. Both cards offer valuable travel insurance, but the specific coverage and terms may differ. Research the coverage details to ensure it meets your needs.
Annual Fee and Value
The annual fees for both cards are substantial, so it’s crucial to evaluate whether the benefits justify the cost. The Chase Sapphire Reserve has a lower annual fee, making it somewhat more accessible. However, the value of the card lies in its rewards earning potential, travel credit, and travel protections. The Amex Platinum commands a higher annual fee, but it comes with a suite of premium benefits, such as airport lounge access, statement credits for various services, and potential hotel elite status. The value proposition of the Amex Platinum hinges on maximizing these benefits.
Consider how often you’ll use the benefits and if the credits offset the fee. Determine if the value of the perks exceeds the annual fee. Think about your travel frequency, spending habits, and the value you place on luxury amenities. Calculate the potential value you can gain from each card’s benefits, and compare it to the annual fee to make an informed decision.
Spending and Redemption
Understanding how you spend and redeem rewards is critical. The Chase Sapphire Reserve rewards bonus categories are travel and dining, making it ideal for those who spend heavily in these areas. Points are most valuable when redeemed for travel through the Chase Ultimate Rewards portal or transferred to airline and hotel partners. The Amex Platinum offers various bonus categories, and its Membership Rewards points can be transferred to a wide array of airline and hotel partners. The value of the rewards depends on how you redeem them. Both cards offer flexible redemption options, but the best value is often achieved by strategically using transfer partners.
Compare the redemption rates for travel, merchandise, and statement credits. Consider the transfer partners offered by each card and which partners align with your travel preferences. Calculate the value of points based on your redemption strategies. Evaluate the ease of use of the rewards programs and how well they integrate with your spending habits and travel needs.
Additional Perks and Benefits
Beyond rewards and travel benefits, both cards offer additional perks. The Chase Sapphire Reserve includes benefits like DoorDash credits, and benefits like purchase protection. The Amex Platinum offers perks such as access to exclusive events, hotel upgrades, and credits for digital entertainment. Both cards offer benefits like purchase protection and extended warranties. Consider which additional perks are most valuable to you. Evaluate whether they align with your lifestyle and spending habits.
Think about how often you will use these perks. The Amex Platinum’s additional benefits are often geared towards luxury and convenience. The Chase Sapphire Reserve provides more straightforward benefits, such as travel protection and a travel credit. Weigh the value of these perks against your spending and lifestyle to determine which card offers the best overall value.
Overall Comparison
When comparing the Chase Sapphire Reserve and the Amex Platinum, it’s essential to consider your individual needs and preferences. The Chase Sapphire Reserve offers a more streamlined approach with a lower annual fee, generous travel credit, and valuable rewards in key spending categories. The Amex Platinum is for those who value premium benefits, such as airport lounge access, hotel elite status, and credits for various services. Assess the value you’ll receive from each card’s benefits, including rewards, travel perks, and additional perks. Consider your spending patterns, travel habits, and lifestyle to determine which card is the best fit for you.
Evaluate the annual fees and how well the benefits justify the cost. Determine how often you will use the travel and lifestyle perks. Consider the rewards earning potential and how well it aligns with your spending habits. Weigh the pros and cons of each card to make an informed decision. Choose the card that offers the most value based on your individual needs and preferences.
Who Should Buy What?
Buy Chase Reserve Card If…
- You value a simpler rewards structure and want strong earning rates on dining.
- You prefer a card with a lower annual fee compared to the Amex Platinum.
- You frequently use Chase’s travel partners for point redemption.
- You primarily use your card for travel and dining expenses.
Buy Amex Platinum If…
- You prioritize access to Centurion Lounges and other exclusive airport lounges.
- You can maximize the value of various statement credits offered by the card.
- You frequently shop at Saks Fifth Avenue or use Uber.
- You are willing to pay a higher annual fee for a wider array of premium benefits.
Frequently Asked Questions
What is the annual fee for the Chase Sapphire Reserve?
The Chase Sapphire Reserve card has an annual fee of $550. This fee covers the cost of the card’s premium benefits, including a $300 annual travel credit, travel protections, and rewards earning potential. The value of these benefits should be weighed against the annual fee to determine if the card is a good fit for your spending habits and lifestyle.
What is the annual fee for the Amex Platinum?
The Amex Platinum card has an annual fee of $695. This fee grants access to a wide array of premium benefits, such as airport lounge access, statement credits, and hotel perks. The card’s value is dependent on how frequently you utilize the perks and credits provided and how they align with your travel habits.
How do I redeem Chase Ultimate Rewards points?
Chase Ultimate Rewards points can be redeemed in several ways. You can redeem them for travel through the Chase Ultimate Rewards portal at a higher value, transfer them to airline and hotel partners, or use them for cash back or statement credits. Consider your travel plans and the value of each redemption option.
How do I redeem Amex Membership Rewards points?
Amex Membership Rewards points can be redeemed in several ways, including transfers to airline and hotel partners, statement credits, or for merchandise and gift cards. The best value is often achieved by transferring points to travel partners. Consider your travel preferences and which partners align with your needs.
Does the Chase Sapphire Reserve offer airport lounge access?
Yes, the Chase Sapphire Reserve provides access to the Priority Pass Select network of airport lounges. This benefit offers a valuable perk for frequent travelers, providing a comfortable space to relax or work while waiting for flights. Access is granted through a Priority Pass Select membership included with the card.
Does the Amex Platinum offer airport lounge access?
Yes, the Amex Platinum offers access to a wide array of airport lounges, including the Centurion Lounge network (where available), Priority Pass Select lounges, Delta Sky Clubs (when flying Delta), and various other partner lounges. These lounges offer a range of amenities and a comfortable travel experience.
Which card is better for travel insurance?
Both cards offer travel insurance, but the coverage varies. The Chase Sapphire Reserve provides primary auto rental collision damage waiver coverage and trip delay/cancellation insurance. The Amex Platinum also includes travel insurance benefits, such as trip delay, trip cancellation/interruption insurance, and baggage insurance. Review the coverage details and limitations of each card to determine which best suits your needs.
Final Verdict
Both the Chase Sapphire Reserve and the Amex Platinum offer premium benefits and rewards, but they cater to different needs. The Chase Sapphire Reserve is a strong choice for those who want a lower annual fee, a straightforward travel credit, and valuable rewards on travel and dining. The Amex Platinum is ideal for frequent travelers who value luxury perks, such as airport lounge access and various statement credits. The best card depends on your spending habits and travel preferences.
Winner: Amex Platinum