Here's Why I'm Skipping the Amex Platinum for This Travel Card Instead

The American Express Platinum Card® is one of the most valuable travel cards on the market -- if you can use its lavish perks.

But for us mere mortals who can't justify an $895 annual fee (see rates and fees), I've got another recommendation: the Chase Sapphire Preferred® Card (see rates and fees).

With just a $95 annual fee, the Chase Sapphire Preferred® Card is much easier to justify for basically everyone. Here's why I prefer it to the Platinum Card®.

A strong welcome offer, plus $50 a year at hotels

First, the Chase Sapphire Preferred® Card comes with a great welcome offer that's relatively easy to earn. Right now, new cardholders can earn 75,000 bonus points after spending $5,000 in the first 3 months.

That's a points haul worth at least $750 in Chase Travel℠ value -- and potentially even more if you use one of Chase's many transfer partners.

You'll also get a versatile $50 annual credit to use for hotel stays booked through Chase Travel. That means if you land the welcome bonus, you've got at least $800 in first-year value -- more than eight times the Chase Sapphire Preferred® Card's $95 annual fee.

Yes, the Platinum Card® has a lucrative welcome bonus of its own, plus over $3,500 in annual perks (terms apply). But for a less expensive option without all the bells and whistles, the Chase Sapphire Preferred® Card is worth a look.

Want to land $800 in first-year value? Read our full review of the Chase Sapphire Preferred® Card to apply today.

The Chase Sapphire Preferred has better earning rates, too

Want to rack up rewards on everyday purchases? The Chase Sapphire Preferred® Card comes with:

• 5X points on travel purchased through Chase Travel℠
• 3X points on dining, select streaming services, and online groceries
• 2X points on all other travel purchases
• 1X points on all other purchases

And those earning rates are actually better than those of the Platinum Card®:

• 5X points on flights booked directly with airlines or with American Express Travel® up to $500,000 on these purchases per calendar year
• 5X points on prepaid hotels booked with American Express Travel®
• 1X points on other purchases

Most of the Platinum Card®'s value comes from its annual statement credits, not its earning rates. But if your only goal is to rack up rewards on things like dining and groceries, the Chase Sapphire Preferred® Card is actually a better pick.

Solid travel and purchase protections

The Chase Sapphire Preferred® Card can't compete with the annual perks of the Platinum Card®. But it does come with reliable travel and purchase protections to help you out when you need it most. Things like:

• Trip cancellation/interruption insurance: Reimburses up to $10,000 per traveler and $20,000 per trip for prepaid, non-refundable travel expenses.
• Baggage delay insurance: Up to $100 per day for essentials for delays over six hours.
• Travel and emergency assistance: Access to legal and medical referrals while traveling.
• Purchase protection: Covers new purchases against damage or theft for 120 days, up to $500 per item.
• Auto rental coverage: Primary coverage for theft and collision up to $60,000 on most rental vehicles.
• Trip delay reimbursement: Up to $500 per traveler for delays over 12 hours.
• Extended warranty protection: Extends U.S. manufacturer warranties by an additional year, up to four years total.

These perks aren't as eye-popping as, say, $400 a year at Resy restaurants (terms apply; enrollment required). But they're valuable, underrated protections that can cover you in a pinch.

The best part? You can get it all for $95 a year -- then hold on to that $800 that you're saving on the Platinum Card®'s annual fee.

Want to check out some more Platinum Card® alternatives? See our full list of the best travel cards available now to compare some of our favorites.