American Express Platinum Card vs. Chase Sapphire Reserve
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If you’re in the market for a premium credit card with plenty of travel perks, chances are you’re considering the , Member FDIC, and the Visa. Both cards come with a higher annual fee than other rewards cards, but they also offer more substantial rewards and benefits you won’t find elsewhere. This can make them worth the price.
When choosing between these top-tier cards, consider which card provides the greatest value to your lifestyle. Take a closer look at the perks they offer and what it takes to take advantage of them.
American Express Platinum vs. : Welcome Offer and Rewards
Both American Express Platinum and Chase Sapphire Reserve offer plenty of ways to earn points, including a welcome offer. American Express keeps it simple, with a two-tiered point system. Chase’s multiplier gives you more ways to earn more points.
| American Express Platinum | Chase Sapphire Reserve | |
|---|---|---|
| Welcome Offer | 80,000 points (up to $800 value) | 60,000 points (up to $900 value) |
| Rewards | -5x points on flights -5x points on prepaid hotels -1 point on other purchases |
-10x points on hotels and car rentals -10x points on Chase Dining Purchases -5x points on flights -3x points on other travel -3x points on other dining -1 point on all other purchases |
How They Compare
The Platinum Card from American Express offers more bonus points–80,000 compared to Chase’s 60,000. You also get more time – 6 months compared to Chase’s 3 months- to make the qualifying purchases you need to earn them. However, Chase’s points may be the better value. The 60,000 welcome points are worth $600 toward travel, and you only need to spend $4,000 to earn them. American Express’ bonus points are worth $800 toward airfare and select gift cards, but you have to spend $6,000 to earn them. The points’ value drops to $400 to $680 for other types of purchases.
Rewards Points
Receiving a welcome offer is a great incentive, but you want to accrue additional points to use for later purchases. With the American Express Platinum card, you earn either one point or five points for every dollar you spend. Chase gives you one, three, five or 10 points for each dollar.
Book Travel and Dining
Both systems reward you for booking travel and dining through their websites. For example, if you book a room at your favorite boutique hotel using the hotel’s website, you earn one point for each dollar. To get the 5x multiplier, you have to book that room through AmexTravel.com. As a Chase Sapphire Reserve credit card holder, you earn one point for each dollar you spend on the direct booking, but you can get the 10x multiplier when you book the room through Chase Ultimate Rewards.
Chase also offers card holders bonus points for referring a friend. You can earn up to 50,000 bonus points per year through this program.
American Express Platinum vs. Chase Sapphire: Travel Perks and Features
Both of these cards go beyond what’s typically offered by basic rewards credit cards, with each offering premium travel perks to cardholders. Here are some of the top benefits of each card:
| Benefits | American Express Platinum | Chase Sapphire Reserve |
|---|---|---|
| Rideshare Perks | $15 monthly Uber credit | 10x points on Lyft rides |
| Airport Lounge Access | 1,400+ lounges in more than 650 cities | Lyft Pink All Access membership |
| Hotel Perks | -Complimentary room upgrades -Early check-in -Late check-out -Spa and dining credits |
-1,300+ lounges in more than 500 cities -Room upgrades -Complimentary breakfast -Late checkout at participating hotels |
| Travel Credits | $200 annual airline fee credit $200 hotel credit |
$300 statement credit for travel charges |
How They Compare
Travel perks extend beyond the points you can cash in for flights and airfare. Your card can also give you access to airport lounges, late check-out and travel credits for expenses like luggage charges.
Rideshare Perks
If you’re a regular Uber or Lyft user, you may find one card more valuable than the other depending on your preferred rideshare service. The Platinum Card from American Express has partnered with Uber. As a Platinum Card holder, you have Uber VIP status and get a $15 credit toward rides or meal deliveries each month. You also get an extra $20 in December.
As a Sapphire Reserve cardholder, you receive a complimentary two-year-year membership to Pink All Access through Lyft as long as you activate the membership before Dec. 31, 2024. In addition, you earn 10x points on Lyft rides through March 31, 2025.
Airport Lounge Access
The Chase Sapphire Reserve card includes complimentary access to over 1,300 lounges in 500 cities worldwide. You will need to enroll in the Priority Pass Select program separately to take advantage of this perk.
With the Platinum Card from American Express, you’ll get access to all Priority Pass Select lounges. You’ll also have access to all Centurion Lounges, International American Express lounges and Delta Sky Club lounges.
Hotel Perks
With both cards, you can qualify for room upgrades when you pre-pay rooms at their partner hotels. American Express Platinum cardholders also enjoy a $200 annual hotel credit as well as credit for spa treatments and dining at properties available through Fine Hotels + Resorts or The Hotel Collection. You get late check-out and complimentary breakfast at Luxury Hotel & Resort Collection properties around the world with the Chase Sapphire Reserve card.
Travel Credits
Travel credits help offset the cost of the annual fee. With the Chase Sapphire Reserve card, each year you’ll get a maximum $300 statement credit as reimbursement for travel charges like baggage fees. The Platinum Card from American Express goes further with a $200 annual airline credit and $200 hotel credit for use at Fine Hotels & Resorts. Plus, both cards provide a credit every four years to cover the cost of TSA Precheck or Global Entry, valued at $100.
American Express Platinum vs. Chase Sapphire: Fees
The cost of all these perks is a higher annual fee compared to other credit cards. These fees and other costs are important factors in your evaluation of the cards.
| Fee | American Express Platinum | Chase Sapphire Reserve |
|---|---|---|
| Annual Fee | – -$75 for each authorized user |
|
| APR | ||
| Foreign Transaction Fee | $0 | $0 |
| Balance Transfer Fee | N/A | $5 or 5% of transfer amount |
The annual fee for the Chase Sapphire Reserve card is lower than American Express Platinum as long as you are the only person using the account. Add two authorized users, and you’ll pay $700 per year.
Both cards also have an APR higher than the national average, which was at 20.09% as of February 2023. The American Express Platinum card has a slightly lower APR, but you have to activate Pay Over Time if you don’t plan to pay the balance in full each month . If you expect to carry a balance on the account, be aware of the interest rate.
Neither card has a foreign transaction fee, which works well if you plan to use either card during international travel. And while the American Express Platinum card doesn’t offer balance transfers, the Chase Sapphire Reserve does for a pretty standard $5 or 5% of the transfer–whichever is greate.
Is the American Express Platinum Card or Chase Reserve Better?
What makes the American Express Platinum Card or Chase Reserve Visa better depends on the needs of the cardholder. The best card for you is the one that offers the perks and features you will actually use. Choosing between these cards is not as simple as comparing the annual fees. The real question is what you get in return. The perks can easily make up the cost of the fees if you can use to replace services you’re currently paying for.
American Express Platinum vs. Chase Sapphire Reserve FAQ
Here are the answers to some of the most frequently asked questions.- Is it worth having both American Express Platinum and Chase Sapphire Reserve?
- For most people, it wouldn't really make sense to have both of these cards because of the high annual fee each card carries. However, if you travel extensively throughout the year, it is possible that you might utilize enough benefits from both of the cards to offset the fees and make it worthwhile. It all depends on your lifestyle and purchasing habits.
- Who is the American Express Platinum Card best for?
- The American Express Platinum card offers more luxury perks than Chase Sapphire Reserve. It's a great card for travelers who enjoy these perks and travel enough to use them. The card also offers additional credits for entertainment services, club memberships and shopping that can help defray the annual fee. It's also a good choice for those who don't need to carry a balance from month to month and prefer a simple rewards structure.
- Who is the Chase Sapphire Reserve best for?
- The Chase Sapphire Reserve card lets you earn more points for your money, which makes it an attractive choice for those who want to to maximize their points earnings. Not only do cardholders have more ways to earn points, but they also get 50% more when they redeem points through Chase Ultimate Rewards.
- Do you have to pay off your American Express Platinum balance each month?
- You may not need to pay your American Express Platinum balance in full each month if you activate Pay Over Time. This lets you pay for eligible purchases over time instead of all at once as long as you stay under your Pay Over Time limit. Cash advances, account fees and select insurance premium payments do not qualify under this program.
- Does American Express Platinum have more lounge access than the Chase Sapphire Reserve?
- Yes, the American Express Platinum card comes with more lounge access than the Chase Sapphire Reserve. With both cards, you get a complimentary Priority Pass membership that lets you enter Priority Pass lounges around the world. In addition, you can use Centurion Lounges, International American Express lounges, and Delta Sky Club lounges as an American Express® Card Member.
Cynthia Bowman, Gabriella Olya and Cynthia Measom contributed to the reporting for this article.
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Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of April 25, 2023.
All information about American Express card offers have been collected independently by GOBankingRates and have not been reviewed or approved by American Express. These offers are not available through GOBankingRates.
The information related to Chase Sapphire Reserve was collected by GOBankingRates and has not been reviewed or provided by the issuer of this card. Product details may vary. Please see issuer website for current information. GOBankingRates does not receive commission for this product.
Editorial Note: This content is not provided by American Express. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by American Express. American Express credit card products are not available through GOBankingRates.com.
Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Chase.
