Chase Sapphire Reserve vs. Amex Platinum: Which Is Best for You?
KEY POINTS
- The Chase Sapphire Reserve® and The Platinum Card® from American Express (see rates and fees both have high annual fees and cater to frequent travelers.
- The Chase Sapphire Reserve® offers a flexible travel credit, an excellent rewards program, and more.
- The Amex Platinum Card has best-in-class lounge access and more than $1,500 in annual credits for those who take advantage.
The Chase Sapphire Reserve® and The Platinum Card® from American Express are two of the most expensive cards you can apply for. However, both have long lists of benefits and perks that can deliver significantly more value than their cost for certain cardholders.
In this article, we'll take a closer look at the main benefits of each card, the key differences to consider, and how to determine which might be the better fit for you.
The Chase Sapphire Reserve has lots of valuable perks
The Chase Sapphire Reserve® is a premium travel credit card and has a $550 annual fee. While this might give you a bit of sticker shock, the card packs some valuable benefits, including:
Featured offer: save money while you pay off debt with one of these top-rated balance transfer credit cards
- $300 annual travel credit that reimburses travel purchases through statement credits.
- A rewards program that earns 10x points per $1 on hotels and car rentals booked through Chase Travel, 5x points per $1 on flights through Chase Travel, 3x points per $1 on travel and dining, and 1x point per $1 on other purchases.
- A 50% bonus on points redeemed through Chase Travel.
- Priority Pass Select airport lounge membership, which includes access to over 1,500 airport lounges.
- Credit to cover a Global Entry or TSA PreCheck membership.
- Free DoorDash DashPass membership, free Lyft Pink All Access membership, and free Instacart+ membership (for a limited time).
On Chase's Secure Website.
= Best
= Excellent
= Good
= Fair = Poor
= Best
= Excellent
= Good
= Fair = PoorOn Chase's Secure Website.
Good/Excellent (670-850)
Intro APR
Purchases: N/A
Balance Transfers: N/A
Regular APR
22.49%-29.49% Variable
Rewards Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases.
5x points on flights and 10x points on hotels and car rentals through Chase Travel℠.
Annual Fee N/A
$550
Welcome Offer Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,125 toward travel when you redeem through Chase Travel℠.
75,000 bonus points
-
This Chase card is your ticket to big rewards on travel spending and dining out, like up to 10x points on spending through Chase Travel, where your points are worth 50% more if you book through Chase Ultimate Rewards. You'll also score excellent perks, like a $300 travel credit, airport lounge access, and a Global Entry/TSA Precheck credit. The annual fee is hefty, but if you can use all its features, this card could be well worth the cost. Read Full Review
-
- Sign-up bonus
- Travel credits
- Airport lounge access
- Travel and dining rewards
- Flexible travel points
- Annual fee
-
- Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,125 toward travel when you redeem through Chase Travel℠.
- $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
- Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
- Get 50% more value when you redeem your points for travel through Chase Travel℠. For example, 75,000 points are worth $1125 toward travel.
- 1:1 point transfer to leading airline and hotel loyalty programs
- Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Member FDIC
The Amex Platinum Card offers tremendous value
With a $695 annual fee (see rates and fees), The Platinum Card® from American Express is one of the most expensive cards you can apply for. However, it can be an extremely valuable card for those who travel often and take full advantage of its benefits and can easily justify its annual fee and then some.
Here are the biggest benefits of the The Platinum Card® from American Express (terms apply; enrollment may be required):
- Airport lounge access includes the American Express Centurion Lounges, Delta Sky Club lounges, and the 1,500-plus lounges in the Priority Pass network, among a few others
- Gold elite status with Marriott Bonvoy and Hilton
- $200 in annual Uber Cash that can be used for rides or Uber Eats deliveries ($15 per month, with $35 in December)
- $200 in hotel credit towards certain prepaid bookings made through Amex Travel
- $20 per month in digital entertainment credits to be used toward Disney+, Hulu, or several other subscription products
- $155 to pay for a Walmart+ membership (paid as a $12.95 monthly credit)
- $200 annually toward incidentals with an airline of your choosing
- $300 toward an Equinox membership or digital subscription
- $100 in annual credits toward Saks Fifth Avenue purchases, structured as two $50 semi-annual credits
- $189 per year to cover the cost of a CLEAR® membership
On American Express' Secure Website.
Terms apply
= Best
= Excellent
= Good
= Fair = Poor
= Best
= Excellent
= Good
= Fair = PoorOn American Express' Secure Website.
Terms apply
Good/Excellent (670-850)
Intro APR
Purchases: n/a
Balance Transfers: n/a
Regular APR
See Pay Over Time APR
Rewards Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel. Earn 1X Membership Rewards® Points on other purchases. Terms and limitations apply.
1X-5X Membership Rewards® Points
Annual Fee
$695
Welcome Offer Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
80,000 Membership Rewards® Points
-
This luxury travel card has some of the most prestigious perks you'll find — access to over 1,400 airport lounges, elite status with Hilton and Marriott Bonvoy, and spending credits worth over $1,500 in value every year. Just be ready for the hefty annual fee, which can be offset in the first year with a welcome bonus worth $800 in points. Terms apply. Read Full Review
-
- Big welcome offer
- Substantial spending credits
- Airport lounge access
- Hotel benefits
- Flexible travel points
- Annual fee
- Limited bonus categories
- Spending credits can be complicated to manage
-
- Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.
- Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
- $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when you pay with your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
- $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
- The American Express Global Lounge Collection® can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market. As of 03/2023.
- $155 Walmart+ Credit: Save on eligible delivery fees, shipping, and more with a Walmart+ membership. Use your Platinum Card® to pay for a monthly Walmart+ membership and get up to $12.95 plus applicable taxes back on one membership (excluding Plus Ups) each month.
- $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card®.
- $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only. Terms Apply.
- $189 CLEAR® Plus Credit: CLEAR® Plus helps to get you to your gate faster at 50+ airports nationwide and get up to $189 back per calendar year on your Membership (subject to auto-renewal) when you use your Card. CLEARLanes are available at 100+ airports, stadiums, and entertainment venues.
- Receive either a $100 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 year period for TSA PreCheck® application fee for a 5-year plan only (through a TSA PreCheck® official enrollment provider), when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
- Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That's up to $50 in statement credits semi-annually. Enrollment required.
- Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card® to your Resy profile.
- $695 annual fee.
- Terms Apply.
Which is best for you?
Both of these credit cards have a ton of benefits and can certainly justify their annual fees for cardholders who take advantage of their perks. But there are some important differences to know.
The Chase Sapphire Reserve®'s travel credit isn't just $100 higher than the Amex, it's good on all travel purchases, not just airline incidentals. You can book a $400 plane ticket and a $300 credit would appear on your statement soon after.
Also, Chase's rewards program is far more generous than Amex's, especially considering the 50% bonus for redeeming points through Chase Travel. The Platinum Card® from American Express earns just 1X point per $1 on everything but flights and certain hotel bookings (terms apply). There's also the annual fee difference to consider, as the Chase Sapphire Reserve® costs $145 less each year.
On the other hand, Amex's lounge access is superior (the Centurion Lounges are a completely different level than Priority Pass). And the long list of statement credits can require some serious strategy to use, but can be worth over $1,500 per year if you take full advantage.
The bottom line is that both are excellent card products, and there's not a clear winner between them. It depends on which perks and benefits matter to you the most, and whether you'll actually get enough value out of either card to justify paying its annual fee.
| Offer | Our Rating | Welcome Offer | Rewards Program | APR |
|---|---|---|---|---|
|
Chase Sapphire Reserve®
Apply Now for Chase Sapphire Reserve®
On Chase's Secure Website. |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
75,000 bonus points Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,125 toward travel when you redeem through Chase Travel℠. | 5x points on flights and 10x points on hotels and car rentals through Chase Travel℠. Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases. |
Intro: Purchases: N/A Balance Transfers: N/A Regular: 22.49%-29.49% Variable |
|
The Platinum Card® from American Express
Apply Now for The Platinum Card® from American Express
On American Express' Secure Website. Terms apply |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
80,000 Membership Rewards® Points Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership. | 1X-5X Membership Rewards® Points Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel. Earn 1X Membership Rewards® Points on other purchases. Terms and limitations apply. |
Intro: Purchases: n/a Balance Transfers: n/a Regular: See Pay Over Time APR |
Alert: our top-rated cash back card now has 0% intro APR until 2025
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a lengthy 0% intro APR period, a cash back rate of up to 5%, and all somehow for no annual fee! Click here to read our full review for free and apply in just 2 minutes.
Our Research Expert
Matt is a Certified Financial Planner™ and investment advisor based in Columbia, South Carolina, and has been writing about personal finance since 2011.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
For rates and fees for the The Platinum Card® from American Express, click here
Related Articles
View All Articles
By: Brittney Myers | Published on May 10, 2024
By: Dana George | Published on May 13, 2024
By: Chris Neiger | Published on May 24, 2024
By: Christy Bieber | Published on May 13, 2024
By: Lyle Daly | Published on May 14, 2024