The landscape of premium travel credit cards is crowded, with nearly every major issuer vying for your attention – and your annual fee dollars – by offering enticing perks and luxury benefits. Among these high-end options, two cards stand out as titans, each with a loyal following: The Platinum Card® from American Express and the Chase Sapphire Reserve®.
American Express pioneered the premium rewards card market decades ago, establishing a benchmark for luxury and exclusivity. The Chase Sapphire Reserve®, launched in 2016, democratized the concept, bringing premium travel rewards to a broader audience. The rivalry between these two cards has been intense ever since, pushing both issuers to continually enhance their offerings.
If you’re considering a premium travel card, or are trying to decide between these two powerhouses, understanding their nuances is crucial. This comprehensive comparison will delve into the key features of the Amex Platinum and Chase Sapphire Reserve, helping you determine which card best aligns with your travel style and spending habits.
Related: The best travel credit cards
Amex Platinum vs. Chase Sapphire Reserve: A Detailed Comparison
To begin, let’s examine a side-by-side comparison of the core features of the Amex Platinum and Chase Sapphire Reserve cards. This table provides a high-level overview before we dive into the specifics of each category.
| Card | Amex Platinum | Chase Sapphire Reserve |
|---|---|---|
| Welcome Offer | 80,000 Membership Rewards points after spending $8,000 in the first 6 months | 60,000 Ultimate Rewards points after spending $4,000 in the first 3 months |
| Annual Fee | $695 (see rates and fees) | $550 |
| Earning Rates | – 5x points on flights booked directly with airlines or via Amex Travel (on up to $500,000 per calendar year, then 1x) – 5x points on prepaid hotels booked with Amex Travel – 1x point per dollar on other purchases | – 10x points on hotels and car rentals purchased through Chase Travel℠ – 10x points on dining purchases through the Chase portal – 10x points on Lyft rides (through March 31, 2025) – 10x points on Peloton equipment and accessory purchases (through March 2025) of $150 or more, up to 50,000 points – 5x points on flights purchased through Chase Travel – 3x points on all other travel (after $300 travel credit is spent) and dining worldwide – 1x point per dollar on everything else |
| Notable Benefits | – Up to $200 airline incidental statement credit* – Up to $200 annual Uber Cash ($15 monthly, $20 bonus in Dec)* – Up to $100 annual Saks Fifth Avenue credit ($50 semi-annually)* – Up to $200 annual hotel credit on prepaid Amex Fine Hotels + Resorts or The Hotel Collection* – Up to $199 annual Clear Plus credit* – Up to $240 annual digital entertainment credit ($20 monthly)* – Up to $300 annual Equinox credit (auto-renewal)* – Up to $155 annual Walmart+ credit ($12.95/month)* | – $300 annual travel credit – Global Entry/TSA PreCheck fee credit (up to $100) – Complimentary Lyft Pink All Access membership (2 years) – Complimentary DoorDash DashPass subscription – $5 monthly DoorDash credit |
*Enrollment required for select benefits
Welcome Offer Comparison: Amex Platinum vs. Chase Sapphire Reserve
For many, the welcome offer is a primary factor when considering a premium credit card, especially given the significant annual fees. These initial bonuses can offset a considerable portion of the first year’s cost.
The Amex Platinum, with its higher $695 annual fee (see rates and fees), currently offers new cardholders 80,000 Membership Rewards points after spending $8,000 within the first six months. It’s always worth checking if you are targeted for an even higher bonus through tools like CardMatch, where offers can reach up to 150,000 points (offers are subject to change).
Valuing Membership Rewards points at 2 cents each (according to TPG valuations), the standard 80,000-point offer is worth approximately $1,600. Given Amex’s once-per-lifetime bonus rule, deciding when to apply for the Platinum, especially if hoping for a larger targeted bonus, can be strategic.
The Chase Sapphire Reserve®, on the other hand, presents a welcome bonus of 60,000 Ultimate Rewards points after you spend $4,000 in the first three months of account opening.
TPG values Ultimate Rewards points slightly higher at 2.05 cents apiece, making this bonus worth around $1,230. While the Sapphire Reserve’s bonus value is nominally lower, the required spending to achieve it is also significantly less demanding.
Winner: The Amex Platinum generally wins in terms of pure welcome bonus value, particularly if you can secure a targeted offer. However, the lower spending requirement of the Chase Sapphire Reserve makes its bonus more accessible for some.
Related: The best time to apply for these popular cards based on offer history
Benefits Showdown: Amex Platinum vs. Chase Sapphire Reserve
Beyond the welcome offer, the ongoing benefits are where these premium cards truly differentiate themselves and attempt to justify their hefty annual fees. Both the Chase Sapphire Reserve and Amex Platinum are loaded with perks, but they cater to different priorities and spending patterns.
Let’s break down the most valuable benefits (enrollment may be required for certain benefits):
| Benefit | Amex Platinum | Chase Sapphire Reserve |
|---|---|---|
| Annual Credits & Partner Perks | Up to $200 Airline Fee Credit Up to $200 Prepaid Hotel Credit Up to $200 Uber Cash (U.S. only, $15/month + Dec bonus) Up to $199 Clear Plus Credit Up to $100 Saks Credit ($50 semi-annually) Up to $240 Digital Entertainment Credit ($20/month select providers) Up to $155 Walmart+ Credit ($12.95/month) Up to $300 Equinox Credit | $300 Annual Travel Credit Global Entry/TSA PreCheck Credit (up to $100) Complimentary Lyft Pink All-Access (2 years) Complimentary DoorDash DashPass + $5 monthly credit |
| Lounge Access | Amex Global Lounge Collection (Centurion, Priority Pass (select lounges), Delta Sky Club (limited visits), Plaza Premium, Airspace, Escape) | Priority Pass Select, Chase Sapphire Lounge by The Club |
| Travel Protections | Secondary Car Rental Coverage* Trip Delay Protection** Trip Cancellation/Interruption Insurance** (See Amex Travel Protections Guide) | Primary Car Rental Insurance Baggage Delay Insurance Trip Delay Insurance Trip Cancellation/Interruption Insurance Emergency Medical & Dental Benefit |
| Hotel Elite Status | Marriott Bonvoy Gold, Hilton Honors Gold | None |
| Hotel Programs | Amex Fine Hotels + Resorts | The Edit by Chase Travel |
| Global Entry/TSA PreCheck | Credit every 4 years (Global Entry) or 4.5 years (TSA PreCheck) | Credit every 4 years |
*Eligibility and benefit level varies by card. Terms and limitations apply. See americanexpress.com/benefitsguide.
**Eligibility and benefit level varies by card. Terms and limitations apply. See americanexpress.com/benefitsguide.
Deciphering the benefits packages is complex and highly dependent on individual spending habits and travel preferences.
The Chase Sapphire Reserve’s $300 annual travel credit remains a straightforward and valuable perk. It’s easily applied to a broad spectrum of travel purchases, offering immediate, tangible value. In contrast, the Amex Platinum’s up to $200 airline fee credit is more restrictive, requiring careful selection of a qualifying airline and only covering incidental fees like baggage or seat selection.
The Amex Platinum includes up to $200 in annual Uber Cash (distributed as $15 monthly with a $20 December bonus, enrollment required), which many consider a near cash-equivalent credit if you regularly use Uber or Uber Eats in the U.S. However, if ride-sharing or food delivery isn’t part of your monthly routine, the 10x points on Lyft rides offered by the Sapphire Reserve might prove more useful, depending on your preferred service. Conversely, if you don’t use Lyft, the Sapphire Reserve’s Lyft benefit holds little value.
Similarly, the Amex Platinum’s credits for Saks Fifth Avenue, Clear, and digital entertainment services are valuable if you already utilize these services. If not, they may feel like forced benefits that don’t truly offset the annual fee. Enrollment is often required for these statement credits, adding another step to realize their value.
For airport lounge access, the Amex Platinum is widely recognized as having the most extensive network. While its Priority Pass Select membership now excludes restaurant access, the card unlocks Amex’s signature Centurion Lounges, Delta Sky Clubs (limited to 10 annual visits per year), and other lounge networks within the Amex Global Lounge Collection. The Sapphire Reserve provides Priority Pass membership and access to the growing Chase Sapphire Lounge by The Club network.
Another significant advantage for Amex Platinum cardholders is complimentary Gold elite status with both Marriott Bonvoy and Hilton Honors (enrollment required). Chase offers no comparable hotel status benefits directly with the Sapphire Reserve.
Historically, Chase has been lauded for its robust travel insurance coverage. However, Amex has narrowed this gap, enhancing the travel protection benefits on the Platinum card, including trip delay, cancellation, and interruption insurance.
Winner: The Amex Platinum takes the edge in benefits, primarily due to its extensive lounge access, hotel elite status, and a larger, albeit more complex, array of statement credits potentially exceeding $1,400 in annual value. However, realizing the full value requires strategic utilization of these credits.
Related: How to decide if a card’s annual fee is worth paying
Earning Rewards Points: Amex Platinum vs. Chase Sapphire Reserve
Beyond the initial bonus and perks, the long-term value of a rewards card hinges on its earning structure. Both the Amex Platinum and Chase Sapphire Reserve earn valuable transferable points, but their bonus categories differ significantly. The optimal choice depends on your spending profile and other cards you hold within each ecosystem.
Chase offers broader bonus categories, encompassing everyday spending like travel and dining. While the Amex Platinum excels with 5x points on airfare booked directly with airlines or via Amex Travel (a substantial 10% return based on TPG valuations), the Sapphire Reserve earns 3x points on a wider range of travel purchases, including most hotels, ride-sharing, tolls, parking, and tours. The Sapphire Reserve also matches this 3x earning rate on dining worldwide, a category where the Platinum Card only earns a base 1x point per dollar.
Winner: The Chase Sapphire Reserve is superior for everyday earning due to its versatile bonus categories on travel and dining, making it easier to accumulate points on a wider range of purchases.
Related: Best reward cards for each bonus category
Redeeming Points: Amex Platinum vs. Chase Sapphire Reserve
Both Chase Ultimate Rewards and Amex Membership Rewards points are valued comparably by TPG (2.05 cents and 2.0 cents, respectively). However, the direct redemption options and transfer partner networks differ, impacting the ultimate value you can extract from your points.
The Chase Sapphire Reserve provides a significant advantage when redeeming points directly through the Chase Travel portal. Sapphire Reserve cardholders receive a 50% bonus when redeeming for travel this way, boosting the redemption value to a minimum of 1.5 cents per point. This provides a solid floor for point value, allowing you to book revenue flights and hotels even without award availability.
In contrast, redeeming Amex Membership Rewards points directly through American Express Travel yields significantly lower value. Flights are typically redeemed at a flat 1 cent per point, and hotels often at just 0.7 cents per point, diminishing the potential value compared to Chase.
Winner: The Chase Sapphire Reserve offers a higher baseline redemption value for travel thanks to the 50% bonus when redeeming through the Chase Travel portal.
Transferring Points to Partners: Amex Platinum vs. Chase Sapphire Reserve
The true power of both Ultimate Rewards and Membership Rewards lies in their transfer partner programs. Transferring points to airline and hotel partners often unlocks significantly greater value than direct redemptions, particularly for premium cabin flights and luxury hotel stays.
Chase Ultimate Rewards boasts 14 airline and hotel transfer partners, all transferring at a 1:1 ratio. Crucially, most Chase transfers are instantaneous, allowing you to quickly secure award availability. World of Hyatt is a standout hotel partner, offering exceptional value with award nights starting as low as 3,500 points per night. Popular airline partners include United MileagePlus, Southwest Rapid Rewards, British Airways Avios, Virgin Atlantic Flying Club, and Air France-KLM Flying Blue (the latter three also partner with Amex). Notably, Aeroplan® Credit Card holders can even enjoy a 10% bonus on certain transfers from Chase to Aeroplan.
Amex Membership Rewards offers a larger network with over 20 transfer partners. However, the value proposition across these partners is more variable. Some partners have transfer ratios below 1:1, while others suffer from longer transfer times, increasing the risk of award space disappearing before the transfer completes.
Despite these inconsistencies, Membership Rewards offers valuable sweet spots. Popular transfer options, as highlighted by TPG credit cards writer Emily Thompson, include ANA Mileage Club, Air Canada Aeroplan, and Avianca LifeMiles – all within the Star Alliance. Other worthwhile partners include Cathay Pacific Asia Miles, British Airways Executive Club, and Delta SkyMiles.
Winner: The Chase Sapphire Reserve narrowly wins in transfer partner value due to its consistent 1:1 transfer ratios and mostly instant transfer times to all partners, along with valuable partners like World of Hyatt.
Which Card Should You Choose: Amex Platinum or Chase Sapphire Reserve?
The choice between the Amex Platinum and Chase Sapphire Reserve ultimately depends on your individual needs and priorities.
The Amex Platinum is tailored for those seeking a more luxurious travel experience, prioritizing premium perks like extensive lounge access and hotel elite status. If you frequently fly and can leverage the 5x points on airfare, and are willing to maximize the statement credits, the Platinum can offer significant value despite its higher annual fee.
Conversely, the Chase Sapphire Reserve is a more versatile premium card, appealing to both beginners and seasoned travelers. Its lower annual fee, straightforward $300 travel credit, and broader earning categories on travel and dining make it easier to extract consistent value.
Bottom Line: Amex Platinum vs. Chase Sapphire Reserve
The Chase Sapphire Reserve stands out as a user-friendly premium card that balances benefits and earning potential. Its easily utilized travel credit and strong bonus categories on everyday travel and dining provide consistent value without requiring meticulous planning to maximize benefits.
The Amex Platinum, while offering potentially higher value through its extensive perks and statement credits, demands more effort to optimize. It is best suited for travelers deeply invested in luxury travel, airport lounge access, and hotel loyalty programs who can strategically utilize its diverse array of benefits.
To delve deeper, read our full reviews of the Sapphire Reserve and Amex Platinum.
Apply here: Amex Platinum
Apply here: Chase Sapphire Reserve
For rates and fees of the Amex Platinum, click here.
