Amex Platinum
The ideal Amex Platinum cardholder is someone who wants as many statement credits and benefits as they can get. They aren’t bothered by the lack of non-travel bonus categories, and they want their airport experience to be as luxurious and convenient as possible.
Individuals who can benefit the most from the Amex Platinum can easily redeem their rewards for airfare through AmexTravel.com or for transfers to partners for a premium redemption. Speaking of point transfers, Amex Platinum enthusiasts tend to travel overseas often since Amex’s transfer partners skew toward international over domestic travel.
Pros
- More extensive airport lounge access, including Priority Pass Select, Centurion Lounges, Delta Sky Clubs and more.
- Gold elite status with Hilton Honors and Marriott Bonvoy with enrollment
- Included travel benefits for airline incidentals, eligible hotel stays and more
Cons
- Less valuable redemption options overall
- Statement credits can be difficult to use
- No non-travel bonus categories
Chase Sapphire Reserve
In addition to travel and dining rewards, the Chase Sapphire Reserve provides access to several premium perks that help offset the card’s $550 annual fee. These include a travel credit worth up to $300 in statement credit reimbursem*nts each anniversary year, a TSA PreCheck, Global Entry or NEXUS fee credit, Priority Pass airport lounge access and more.
Individuals who can benefit the most from the Chase Sapphire Reserve want more ways to redeem their rewards for at least one cent per point. Not only can Reserve cardholders use points for cash back or gift cards at this rate, but they get more value (1.5 cents per point) for travel redemptions through Chase Travel℠. Plus, cardholders can transfer points at a 1:1 ratio to Chase’s superior roster of airline and hotel partners.
Pros
- Elevated rewards rates on both travel and dining
- Earns Chase Ultimate Rewards points that transfer to a more useful list of partners and are worth 50% more when redeemed for travel through Chase Travel
- Travel credit automatically applies to any eligible travel expenses purchased on your card
Cons
- Less extensive lounge access
- No hotel elite status
- No credit for CLEAR® Plus
Vault’s Viewpoint: Our Take on Amex Platinum vs. Sapphire Reserve
While these cards appeal to a similar type of traveler, they each have a niche. To help decide which is the best credit card for you, ask which do you want more: an enhanced airport and hotel experience or the ability to rack up free travel more quickly?
The American Express Platinum wins in a few ways:
- Better lounge access
- Better hotel perks
- Higher total annual travel credits, including the airline incidental credit plus the hotel credit
- Potentially higher welcome offer
- More credits for expedited airport security
- More credits for lifestyle expenses like gyms and rideshare
The Chase Sapphire Reserve wins in these ways:
- Lower annual fee
- Higher rewards rate for dining and hotel stays
- More valuable redemptions for cash back, statement credits, gift cards and travel through Chase Travel
- Average point value is higher overall
Knowing how you want to redeem your points is critical for deciding between these two cards. This is because Amex Membership Rewards are much more useful for specific travel redemptions, whereas Chase Ultimate Rewards points have better redemption values for both travel and non-travel options.
For starters, Chase points are worth a minimum of one cent each when redeemed for statement credits, cash back and gift cards. Points redeemed for travel through Chase Travel are worth 1.5 cents each with this card, and our internal valuations show that Chase Ultimate Rewards points are worth an average of 1.62 cents each when you factor in potential value you can get through transfer partners.
Meanwhile, Amex Membership Rewards points are worth an average of 1.19 cents each when you factor in transfer partner values, and they’re worth one cent each when used for airfare booked through the American Express Travel portal. Yet, you’ll only get 0.7 cents per point if you redeem your rewards for hotel stays, cruises or car rentals through Amex. Values are even worse for non-travel options like statement credits and merchandise, which come with redemption values of 0.6 cents and 0.5 cents per point respectively. Gift card redemptions through Amex can also be worth as low as 0.5 cents per point depending on the card option.
Also remember that Amex statement credits are notoriously difficult to use. For example, the $200 airline fee incidentals credit only applies to specific purchases like in-flight refreshments or checked baggage fees. This credit also applies to just one qualifying airline each year, and you have to commit to a selected airline ahead of time.
Amex Platinum Highlights
Earning Rewards With the Amex Platinum
The Amex Platinum earns high rewards for select travel purchases. Points can be redeemed in several ways, but travel booked through American Express or transferring to one of Amex’s airline partners offers the best value.
- 5X Membership Rewards 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 through American Express Travel
- 1X points on all other eligible purchases
Other Benefits of the Amex Platinum
Travel Benefits
- Airport lounge access: Includes Centurion Lounges, Delta Sky Clubs, Priority Pass Select and more.
- Hotel credit: Up to $200 back annually in statement credits for prepaid hotel stays booked through American Express Travel with your card.The Hotel Collection requires a minimum two-night stay.
- Airline incidental credit: Up to $200 back annually in statement credits for airline incidental fees, like checked bags or in-flight meals. The credit only applies to incidentals with one qualifying airline you choose ahead of time each year.
- Uber credit: Get up to $15 in Uber Cash for rides and eats orders in the U.S. each month, plus a bonus of $20 in December.
- CLEAR® Plus credit: Get up to $189 in statement credits after you pay for a CLEAR® Plus membership with your Platinum card, which can help you get through airport security faster at select airports. Subject to auto-renewal.
- Global Entry or TSA PreCheck credit: Receive a statement credit for one of the following when charged to your card: $100 every four years for Global Entry or $85 every 4.5 years for a 5-year TSA PreCheck membership through a TSA PreCheck official enrollment provider.
- Hotel elite status: You’ll be upgraded to Hilton Honors Gold and Marriott Bonvoy Gold elite status when you enroll separately in each program.
- Fine Hotels and Resorts benefits: Benefits may include room upgrades, free breakfast, late checkout, amenity credits and more at select Fine Hotels & Resorts properties.
- Car Rental Privileges: Enroll and get upgraded status with car rental companies including Hertz, Avis, and more.
Shopping Benefits
- Concierge service: Get 24/7 access to a concierge who can help with select services, such as finding concert tickets or booking travel.
- Walmart+ membership: Use your card to pay for your Walmart+ membership, and get a statement credit that covers the full cost of one membership each month (plus taxes, excluding Plus Ups).Subject to auto-renewal. Your membership is subject to auto-renewal.
- Shoprunner membership: Get complimentary two-day shipping on eligible items through Shoprunner.
- Saks credit: Get up to $100 in statement credits for purchases at Saks Fifth Avenue each year. That’s up to $50 in statement credits from January through June and up to $50 in statement credits from July through December with enrollment required.
- Return protection*: If the seller won’t take a purchase back up to 90 days from the date of purchase, American Express may refund the full purchase price excluding shipping and handling, up to $300 per item, up to a maximum of $1,000 per calendar year per Card account, if you purchased it entirely with your eligible American Express® Card.
- Purchase protection*: Covers up to $10,000 per occurrence of covered damage, theft or loss, up to $50,000 per calendar year.
- Extended warranty*: Matches the original manufacturer’s warranty for up to one additional year and applies to warranties of 5 years or less. Terms apply.
Lifestyle benefits
- Digital entertainment credit: Get up to $20 back each month in statement credits on eligible purchases made with services like ESPN+, Hulu, Peaco*ck, The New York Times, Disney+ and more.
- Equinox credit: Get up to $300 in statement credits each toward Equinox membership.Enrollment required and subject to auto-renewal. Enrollment is required and subject to auto-renewal.
- SoulCycle credit: Get a $300 statement credit after you use your card to purchase a SoulCycle at-home bike according to relevant terms.
- Global Dining Access by Resy: Get exclusive reservations at top restaurants.
- Premium Events Collection™: Get access to exclusive sporting, fashion and entertainment events.
- Cell phone protection*: Get reimbursed for the cost to repair or replace your damaged or stolen cell phone when your cell phone line is listed on a wireless bill and the prior month’s wireless bill was paid with your Amex Platinum. There is a coverage maximum of $800 per claim with a limit of 2 approved claims per 12-month period, and a $50 deductible will apply to each approved claim.
Vault’s Viewpoint: Our Thoughts on the Amex Platinum’s Value
Newsweek values American Express Platinum points at 1.19 cents apiece, meaning that 100,000 Ultimate Rewards points would be worth about $1,190.
Newsweek’s valuations are based on a sampling of the face values of the most usable reward redemption options, and the valuation doesn’t assume that you have any other American Express Cards or advanced knowledge, which can further boost the value.
Chase Sapphire Reserve Highlights
Earning Rewards With the Chase Sapphire Reserve®
The Sapphire Reserve’s rewards program helps make the card one of the best travel cards around. It not only offers high travel and dining rewards, but points are typically more valuable than other rewards programs, including American Express’s Membership Rewards program.
- 10X total points on car rentals and hotel stays** purchased through Chase Travel℠
- 10X total points on Chase Dining purchases through Ultimate Rewards
- 10X total points on Lyft rides (through March 31, 2025)
- 5X total points on airfare** purchased through Chase Travel
- 3X points on dining
- 3X points on other travel worldwide**
- 1X points on all other purchases
**Travel-related rewards kick in after the $300 travel credit is spent each year on travel purchases.
Other Benefits of the Chase Sapphire Reserve®
Travel Benefits
- Annual travel credit: Up to $300 in statement credit reimbursem*nts each year and automatically applies to purchases made on your card.
- Priority Pass airport lounge access: Cardholders and up to two guests receive complimentary access to over 1,300 airport lounges.
- TSA PreCheck, Global Entry or NEXUS fee Credit: Up to $100 reimbursem*nt every four years.
- Travel accident insurance: This covers accidental death or dismemberment for up to $1,000,000 when you pay for select travel with your Sapphire Reserve.
- Trip cancellation/interruption insurance: Up to $10,000 per person and $20,000 per trip for prepaid, non-refundable travel expenses (including passenger fares, tours and hotels) that are canceled or cut short by sickness, severe weather or other covered situations.
- Auto Rental Collision Damage Waiver: Chase offers primary coverage that reimburses you up to $75,000 for theft and collision damage from rental cars.
- Lost luggage reimbursem*nt: Up to $3,000 per passenger per covered trip.
- Emergency evacuation and transportation: Up to $100,000 of coverage if you or an immediate family member becomes sick while far from home and needs emergency transportation).
- Emergency medical and dental: If you’re 100 miles or more from home on a trip, you can be reimbursed up to $2,500 for medical expenses if you or your immediate family member become sick or injured.
- Roadside assistance: Get a tow, a jumpstart or other roadside services. You’re covered up to $50 four times per year.
Other Benefits
- Zero liability protection: Chase won’t hold you responsible for fraudulent purchases.
- Purchase protection: New purchases will be covered for 120 days against damage or theft up to $10,000 per claim and $50,000 per year.
- Return protection: Get reimbursed for eligible items that the store won’t take back within 90 days of purchase, up to $500 per item, $1,000 per year.
- Extended warranty: Extends the U.S. manufacturer’s warranty an additional year on eligible warranties of three years or less.
Vault’s Viewpoint: Our Thoughts on the Chase Sapphire Reserve’s Value
Newsweek values Chase Sapphire Reserve points at 1.62 cents apiece, meaning that 100,000 Ultimate Rewards points would be worth about $1,620.
Newsweek’s valuations are based on a sampling of the face values of the most usable reward redemption options, and the valuation doesn’t assume that you have any other Chase Cards or advanced knowledge, which can further boost the value.
Who Is Amex Platinum Best For?
The Amex Platinum is best for people looking for an elevated travel experience from the airport to the hotel, as well as lots of credits for experiences. To get the most value out of the card, make sure you can take advantage of as many of the perks and credits as possible to help offset the annual fee. And since all of the bonus rewards categories are travel-related, travel will need to be a big part of your budget if you hope to earn a lot of Membership Rewards points. Lastly, this card is best for consumers who plan to redeem their rewards for airfare through Amex or for point transfers to Amex airline and hotel partners.
Who Is Chase Sapphire Reserve Best For?
The Chase Sapphire Reserve is likely the better fit for people who don’t care so much about the Amex Platinum’s travel and lifestyle credits. The Sapphire Reserve offers a more robust rewards program for earning and redeeming points. Plus, it comes with several top-of-the-line luxury perks, including a more flexible travel credit and airport lounge access—all for a lower annual fee. Because of the flexibility of this card’s rewards for travel and non-travel options, it can work well for frequent jetsetters and people who occasionally redeem rewards for gift cards or other non-travel options.
Amex Platinum vs. Chase Sapphire Reserve® Differences
| Amex Platinum | Chase Sapphire Reserve | |
| Welcome offer | Earn up to 80,000 Membership Rewards Points after you spend $8,000 on eligible purchases on your new card within the first six months of membership with your card. | Earn 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. |
| Annual travel credits | $200 toward airline incidentals. $200 toward prepaid hotels booked through American Express. | $300; automatically applies to travel expenses purchased on your card. |
| Annual fee | $695 | $550 |
| Airport lounge access | Amex Global Lounge Collection including: Centurion Lounge, Delta Sky Clubs, Priority Pass Select, International American Express Lounges, Airspace Lounges, Escape Lounges. | Priority Pass Select and Chase Sapphire Lounges. |
| Airport security credits | Up to $100 for TSA Precheck every 4.5 years for 5-year plan or Global Entry every four years. Up to $189 for CLEAR® Plus membership annually. | Up to $100 for TSA Precheck, Global Entry or NEXUS credit every four years. |
Who Should Consider an Alternative?
If you think the annual fees attached to these cards are too high, try the Capital One Venture X Rewards Credit Card. While it doesn’t offer as many luxury perks, it packs a punch with its rewards program, which includes an above-average flat rate for general purchases. It also comes with enough perks to help offset the $395 annual fee, including lounge access, annual credits and annual bonus miles.
If you’re not interested in lounge access and other luxury perks, consider a travel rewards card with a lower annual fee. The following travel cards each carry a lower annual fee and various perks that make them well worth the cost:
- Chase Sapphire Preferred® Card
- Capital One Venture Rewards Credit Card
- Citi Premier® Card
*Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
Newsweek writer Holly Johnson contributed to this post.
