Chase Sapphire Reserve vs. Amex Platinum Card
If you ask most rewards enthusiasts which travel credit cards are most sought after today, the Chase Sapphire Reserve and The Platinum Card® from American Express are usually the first that come to mind. Both offer stellar rewards, flexible redemption options and an array of luxury perks to help you upgrade your overall travel experience.
That said, you’ll fork over a hefty annual fee for each of them—$550 for the Chase Sapphire Reserve and $695 for the Amex Platinum—and this fee is not waived the first year.
With that in mind, many consumers pick just one of these cards instead of both. While the Chase Sapphire Reserve and Amex Platinum can both be valuable in terms of cardholder benefits and rewards programs, the reality is that many of their offerings overlap—including airport lounge access, credits for Global Entry or TSA PreCheck and annual travel credits.
So, how do you decide between the Amex Platinum vs. Chase Sapphire Reserve? Read on to see which factors you should consider as well as Bankrate’s analysis of Amex rewards points vs. Chase Sapphire Reserve points values.
As you compare the Amex Platinum vs. Chase Sapphire Reserve, here are the main details you should consider.
|Chase Sapphire Reserve||Amex Platinum|
|Welcome bonus||Earn 50,000 points when you spend $4,000 within 3 months of account opening||Earn 100,000 Membership Rewards points after you spend $6,000 on purchases in your first 6 months of card membership|
|Rewards||10X total points on Lyft purchases (through March 2022); 10X total points on Chase Dining purchases through Chase Ultimate Rewards; 10X total points on hotel stays and car rentals through Ultimate Rewards; 5X total points on air travel through Ultimate Rewards; 3X points on general travel; 3X points on restaurant purchases; 1X points on all other purchasesNote: Travel rewards kick in after earning the $300 travel credit||10X points at eligible restaurants worldwide and when you Shop Small in the U.S. (on up to $25,000 in combined purchases during the first 6 months of card membership); 5X points on up to $500,000 spent on directly-booked airfare and flights and prepaid hotels booked through American Express Travel (per calendar year); 2X points on prepaid car rentals through American Express Travel; 1X points on everything else|
|Redemption value||1.5 cents (when redeemed through the Chase Ultimate Rewards portal) or more with Chase transfer partners||1 cent (but you can often find more value with American Express transfer partners)|
Chase Sapphire Reserve vs. Amex Platinum highlights
Both of these travel credit cards come with flexible rewards programs and an array of important travel perks, but they’re not necessarily equal. We dove into the details of each of the card’s major benefits to see which one stands out the most in each category. Here’s what we found:
Welcome bonus winner: Amex Platinum
The Amex Platinum offers a welcome bonus of 100,000 Membership Rewards points after you spend $6,000 on purchases on your new card in your first six months of card membership.
Your points are worth 1 cent apiece when you book travel through amextravel.com, bringing the welcome bonus value to $1,000. With that being said, it’s possible to get up to 2 cents per point in value for American Express Membership Rewards points transferred to travel partners. With the right redemption, this means the welcome bonus could be worth up to $2,000.
The Chase Sapphire Reserve, on the other hand, lets you earn 50,000 points when you spend $4,000 on your card within three months of account opening. These points are worth $750 in travel when you use them to book through the Chase Ultimate Rewards portal, thanks to the 50 percent bonus boost this card offers for using your points to book travel directly versus transferring to airline and hotel partners.
You could also get up to 2 cents per point in value by transferring your Chase points to partners first (and particularly airline partners), but that still makes the welcome bonus worth $1,000 at most.
If you look at it from a straight value perspective, the Amex Platinum is the clear winner. Plus, Amex Platinum gives you an extra three months to hit your spend requirement and comes with 10X points on eligible purchases on the card at restaurants worldwide and when you Shop Small in the U.S. (on up to $25,000 in combined purchases) during your first six months of card membership.
Rewards rate winner: Chase Sapphire Reserve
Keep in mind that the Amex Platinum gets you 5X points on up to $500,000 spent on directly booked airfare and flights as well as prepaid hotels booked through amextravel.com (per calendar year), plus 1X points on all other purchases. The Chase Sapphire Reserve offers 3X points on general travel (after earning your $300 travel credit) and dining and 1X points on all other purchases. If you book travel through Chase Ultimate Rewards, however, you’ll earn 5X points on travel and 10X points on hotel stays and rental car purchases.
The best travel credit card for ongoing rewards depends on how much you spend each month and in which categories you spend the most. With that in mind, the Chase Sapphire Reserve can boost your rewards earnings twice as much as the Amex Platinum when booking through a travel portal.
Annual fee winner: Chase Sapphire Reserve
If you’re looking to get more bang for your buck from your travel credit card, you should strive to pay the lowest annual fee for the most in perks. The Chase Sapphire Reserve once again pulls ahead in this category due to its $550 annual fee (compared to the $695 annual fee on the Amex Platinum).
Not only that, but the Chase Sapphire Reserve makes it easier to recoup more of the annual fee in a short amount of time. While it’s possible to get a lot more than $695 in value from the Amex Platinum, keep in mind that the travel credits for this card are harder to use. For example, the up to $200 in airline fee credits is only good for one airline you have to select ahead of time, and the up to $200 in Uber credits are doled out in monthly increments. This kind of fine print makes it harder to offset the annual fee.
On the other hand, the $300 annual travel credit on the Chase Sapphire Reserve applies automatically to any travel purchase, making it easier to recoup most of the annual fee right away.
Which card earns more?
The main reason to sign up for either of these cards is to earn rewards and score important travel perks. But which card will lead to the highest return overall? That really depends on your spending style and how much you spend over the course of any given year.
While the Amex Platinum could be more beneficial for someone who spends a lot on airfare and hotels (particularly when booked through amextravel.com), the Sapphire Reserve’s rewards rates on purchases booked through its travel portal now top the earnings you could reap.
Chase Sapphire Reserve vs. Amex Platinum spending example
Imagine for a moment that you travel quite a bit and charge most of your travel and personal expenses on a credit card each year. Here’s an example of what your monthly spending might look like if that were the case:
- $1,000 per month on regular purchases, including groceries and gas
- $900 on airfare
- $600 on hotel stays
- $200 per month on rental cars
- $200 on other travel
With the Chase Sapphire Reserve, you would earn 12,300 points per month—1,000 points on regular purchases, 4,500 points on airfare, 6,000 points on hotel stays, 2,000 on rental cars (when booking travel through Chase Ultimate Rewards) and 600 points for other travel.
With the Amex Platinum, you would earn 8,900 points per month—1,000 points on regular purchases, 7,500 points on airfare and hotels (provided you booked airfare directly or airfare and hotels through amextravel.com), and 400 points on rental cars and other travel.
With this example, the Chase Sapphire Reserve leaves you ahead. It’s important to understand, however, that this card only gives you 5X points for airfare and 10X points on hotel stays and rental cars booked through Ultimate Rewards. This means you have a lot less flexibility and lower potential to get a great deal, but the same could be said for Amex Platinum. If you decide to not book through an issuer’s travel portal, you still earn 3X points on travel with the Sapphire Reserve.
Why you should get the Chase Sapphire Reserve
The Chase Sapphire Reserve is best for consumers who want to earn 3X points on all their travel purchases— and not just ones that meet specific criteria. Since you get 50 percent more travel value when you use points to book through the Chase travel portal, this card is also valuable for anyone who wants some added flexibility in their travel plans. Remember that the Chase portal partners with Expedia.com, so you can use this portal to book travel with any provider that offers airfare, hotels, rental cars, experiences and more.
And because you’ll earn 10X points on Lyft purchases through March 2022, the card is also ideal for anyone who uses this rideshare company frequently and especially for long, expensive rides.
Other Chase Sapphire Reserve benefits include a Priority Pass Select airport lounge membership, credits toward Global Entry or TSA PreCheck (up to $100) and a $300 annual travel credit good toward any travel purchase. You’ll also get a handful of important travel insurance benefits, including trip cancellation/interruption insurance, primary auto rental insurance, trip delay coverage, lost luggage reimbursement, emergency evacuation coverage, travel accident insurance and more.
Plus, new cardholders will get a one-year Lyft Pink membership that includes priority airport pickup and 15 percent off Lyft rides, as well as a DashPass membership that includes free delivery on DoorDash purchases of $12 or more and up to $60 in credits toward DoorDash (until Dec. 31, 2021). Cardholders also get up to $120 in Peloton credits for eligible purchases through Dec. 31, 2021.
The Chase Sapphire Reserve lets you redeem points for travel through the Chase portal, and you’ll even get 50 percent more value out of your points when you do. Additional redemption options include gift cards, statement credits, merchandise from Apple.com or Amazon.com and experiences.
You can also transfer Chase Ultimate Rewards points 1:1 to the following transfer partners:
- Aer Lingus
- Air Canada (Aeroplan)
- British Airways
- Air France / Flying Blue
- Singapore Airlines KrisFlyer
- Southwest Rapid Rewards
- United MileagePlus
- Virgin Atlantic
- IHG Rewards Club
- Marriott Bonvoy
- World of Hyatt
Do you need a good credit score for the Chase Sapphire Reserve?
You need excellent credit to qualify for this credit card, which typically translates into a FICO score of 740 or higher. This means this card won’t be available for everyone who wants it.
If you check your credit score and it needs some work, we suggest taking steps to improve your credit before you apply.
Why you should get the Amex Platinum
The Amex Platinum is best for frequent travelers who are able to book airfare directly with airlines or airfare and hotels through amextravel.com. This card is also ideal for people who want the broadest airport lounge access available and those who frequently ride with Uber or use Uber Eats for food delivery.
This card comes with up to $200 in Uber credits per year, but you should know these credits are doled out monthly in increments of $15 ($35 in December) and don’t roll over from month to month.
You’ll also get up to $200 in annual airline fee credits good for incidental airline purchases, although you’ll have to select a single airline to apply the credit to at the beginning of each year.
Platinum card members can also receive up to $200 back in statement credits each year on prepaid bookings with American Express Travel at Fine Hotels + Resorts or The Hotel Collection properties when they pay with their Platinum Card.
The Platinum Card offers a $179 Clear credit in addition to an application fee credit (up to $100) toward Global Entry or TSA PreCheck.
Does the Amex Platinum have more lounge access than the Chase Sapphire Reserve? You bet it does. You’ll get the same Priority Pass Select membership you get with the Chase Sapphire Reserve, but the Amex Platinum also lets you access American Express Centurion Lounges and Delta Sky Clubs when you fly with Delta.
To sweeten the deal even more, this card gives you automatic Gold status with the Hilton Honors program and Marriott Bonvoy. You’ll also get a baggage insurance plan, secondary auto rental insurance and cell phone insurance when you pay your phone bill with your Amex Platinum Card.
Amex Platinum cardmembers who use their card to pay for their Walmart+ monthly membership ($12.95 per month, plus applicable taxes) also receive a statement credit for the full cost of the membership. Finally, there’s now a $300 annual statement credit on the SoulCycle At-Home Bike through Equinox+ and up to $240 in digital entertainment credits.
You can use American Express Membership Rewards to book travel directly through amextravel.com, though you’ll only get 1 cent per point in value when you do. You can also cash in your points for gift cards, statement credits and merchandise or use points to upgrade your flights to business or first class.
This travel program also offers a range of hotel and airline transfer partners, some of which overlap with Chase Ultimate Rewards. All American Express transfer partners let you move points over at a ratio of 1,000:1,000 unless otherwise noted:
- Aer Lingus
- AeroMexico (1,000:1,600)
- Air Canada (Aeroplan)
- Air France / Flying Blue
- Asia Miles
- British Airways
- Delta SkyMiles
- El Al Israel Airlines (1,000:20)
- Etihad Airways
- Hawaiian Airlines
- JetBlue Airways (250:200)
- Qantas (500:500)
- Singapore Airlines
- Virgin Atlantic
- Choice Privileges Rewards
- Hilton Honors (1,000:2,000)
- Marriott Bonvoy
Do you need a good credit score for the Amex Platinum?
Like the Chase Sapphire Reserve, the Amex Platinum requires applicants to have very good or excellent credit. While that typically entails a FICO score of 740 or higher, it’s possible you could get approved with a “good” credit score that is lower than that.
Should you double up and get both?
While each of these cards possesses a hefty annual fee, you can consider getting both if you travel a ton and can take advantage of all of the perks. If you ride with both Uber and Lyft several times per month, for example, you could easily get value from the Amex Platinum’s Uber credits as well as the Lyft Pink membership and 10X points on Lyft (through March 2022) you get with the Chase Sapphire Reserve.
Both cards come with credits for Global Entry or TSA PreCheck, but they don’t specify that the purchase has to be for anyone in particular. With that in mind, you could use one credit for yourself and the other for a partner or spouse.
From there, you could use each card to rack up the most points in specific categories. But with the new rewards rates Chase updated on the Sapphire Reserve this past August, you could use the Chase Sapphire Reserve for all dining and miscellaneous travel purchases to earn 3X points, plus 10X points on hotel stays and rental cars in addition to 5X points on airfare when booked through Ultimate Rewards.
In the meantime, you could still utilize all the separate credits the Amex Platinum offers. For example, you could use the Walmart+ credit for a membership that helps you save on grocery delivery, save $300 with Equinox and sign up for Clear for use at select airports where the program is offered.
Chase Sapphire Reserve vs. Amex Platinum Card frequently asked questions (FAQ)
Does the Chase Sapphire Reserve or Amex Platinum have more valuable points?
Comparing the value of Amex Rewards points vs. Chase Sapphire Reserve points can be tricky since your rewards value will depend on how you redeem. It’s worth noting, however, that the Chase Sapphire Reserve lets you get 1.5 cents per point in value for travel through the Chase portal, yet you’ll only get 1 cent per point in value for a similar redemption with Amex.
Your rewards can also be worth more if you transfer your points to airline and hotel partners, but that depends on the specific redemption and the transfer partner you select through either program. Overall, Chase Sapphire Reserve points are worth slightly more due to the elevated redemption value for travel through Chase Ultimate Rewards.
Does the Amex Platinum have more lounge access than the Chase Sapphire Reserve?
The Amex Platinum has a much better lounge benefit. Both cards offer Priority Pass Select membership, but the Amex Platinum includes access to Centurion Lounges and Delta Sky Clubs when you fly with Delta.
If you’re choosing a travel credit card based on airport lounge access alone, the Amex Platinum is your best bet.
The bottom line
Which of these valuable rewards credit cards will leave you better off? That all depends on where you spend the most money each month and which selection of airline and hotel partners makes the most sense for your regular travel plans. With that in mind, the Chase Sapphire Reserve’s updated rewards rates and benefits outstrip the Amex Platinum.
Still, you should conduct some basic research to see which of these cards might work better for your needs. Also, don’t forget to compare these to other top credit card offers that might work even better.