Chase Sapphire Reserve vs. American Express Platinum Card

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Both the and the , Member FDIC, offer premium travel rewards and benefits — but both come with a high annual fee. A rewards credit card with high annual fees isn’t necessary for most individuals, especially when taking into account the other alternatives available. However, frequent travelers may not mind the higher annual fee in exchange for all the benefits such premium cards have to offer.

To help you decide which option could be worth the high price to have in your wallet, keep reading this American Express Platinum vs. review to find out exactly what you’ll get with each credit card.

vs. : Which Card Has a Better Bonus and Rewards?

When you opt-in to a card with an annual fee, you’ll want to maximize the amount of value you can get. Otherwise, it’s not worth it. Here’s how the two cards measure up in terms of bonus offers and rewards.      

American Express Platinum  Chase Sapphire Reserve 
Bonus Offer 80,000 Membership Rewards points after spending $6,000 within the first six months 80,000 bonus points after spending $4,000 within the first three months
Rewards -5x points on flights and prepaid hotels booked via AmexTravel.com
-5x points on up to $500,000 of flights purchased directly from airlines or American Express Travel each year
-5x points on Chase Ultimate Rewards flight purchases, following the first $300 of annual travel purchases
-10x points on Chase Ultimate Rewards hotels and car rentals, following the first $300 of annual travel purchases 
-3x points on other travel, following the first $300 of annual travel purchases 
-10x points on Chase Dining Purchases via Ultimate Rewards
-3x points on other dining, including eligible delivery and takeout
-1 point per $1 on all other purchases
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Bonus Points Comparison

The welcome offer for both of these cards is certainly something to consider. New Chase Sapphire Reserve cardholders will get 80,000 bonus points — worth $1,200 toward travel — for spending $4,000 on purchases within the first three months.

To get the welcome offer bonus from the Platinum Card from American Express, spend $6,000 on purchases in the first six months, and you’ll earn 80,000 Membership Rewards points. That’s equal to $800 for airfare and certain gift cards, but less with other redemption options. 

Rewards Comparison

Both cards offer premium perks and benefits that go beyond travel. But to make the most of the rewards, you’ll need to accrue points first. With the Chase Sapphire Reserve card, you’ll earn three points for every dollar spent on travel and dining worldwide, and one point per dollar spent on all other purchases. To really boost your earnings, book dining through Ultimate Rewards to earn 10x points per dollar spent. As for travel, you can earn five points if you log in to the Chase Ultimate Rewards website, available for all Chase credit card holders, to book travel using cash or points.

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You get the most value when you redeem your Chase points for travel, which includes airfare, hotels, car rentals and cruises. A bonus of 50% points is added for bookings via Chase Ultimate Rewards. For example, the 80,000 bonus points cardholders can earn when they spend $4,000 within the first three months, are worth $1,200 toward travel in Ultimate Rewards or $800 toward other redemption options.

The American Express Platinum Card’s rewards system strives to be a bit simpler. American Express allows you to earn five Membership Rewards points for every $1 spent on flights and hotels, and one point per dollar on all other purchases. 

The dollar value of points varies by redemption option. You get the most value for flights: 100 points equals $1, so if you have 80,000 points, you’ll get $800 toward airfare. American Express has a handy points calculator that can tell you how much your points are worth according to the type of redemption. Say you have 10,000 points you’d like to redeem. The points can go towards $100 in flights, $70 for hotels or car rentals, $50 for shopping or $60 towards your card’s statement balance. The useful tool can help you find ways to make the most of the points you’ve earned.

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vs. : Comparing Features

Both of these cards go beyond what’s typically offered by basic rewards credit cards, with each offering premium perks to cardholders. Here are some of the top benefits of each card:

Benefits American Express Platinum  Chase Sapphire Reserve 
Rideshare Credits $15 monthly credit toward Uber rides or meal deliveries No credits, but earn 10x points on Lyft rides 
Airport Lounge Access Access to all Priority Pass Select lounges, Centurion Lounges, International American Express lounges and Delta Sky Club lounges Complimentary access to over 1,300 lounges in 500+ cities worldwide
Hotel Perks  Complimentary room upgrades, early check-in and late check-out at Luxury Hotel & Resort Collection properties around the world Daily breakfast for two, room upgrades when available, noon check-in when available and complimentary Wi-Fi at participating hotels
Travel Credits $200 annual airline credit, $200 hotel credit and Uber monthly credits $300 statement credit as reimbursement for travel charges

Rideshare Credits

If you’re an Uber or Lyft user, you’ll need to choose one card over the other. The Platinum Card from American Express has partnered with Uber. With the Platinum Card, you’ll have Uber VIP status and get $15 toward rides or meal deliveries each month, and an extra $20 in December. 

Sapphire Reserve members get 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, but 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 of the Priority Pass Select lounges, plus all Centurion Lounges, International American Express lounges and Delta Sky Club lounges.

Hotel Perks

Get complimentary room upgrades, early check-in and late check-out at Luxury Hotel & Resort Collection properties around the world with the Chase Sapphire Reserve card.

Hotel benefits for American Express Platinum members include daily breakfast for two, room upgrades when available, noon check-in when available and complimentary Wi-Fi at Fine Hotels & Resorts. 

Travel Credits

Travel credits are a good way to evaluate how much you’re paying for a premium credit card. With the Chase Sapphire Reserve card, each year you’ll get a $300 statement credit as reimbursement for travel charges.  

The Platinum Card from American Express goes further when it comes to travel credits. You’ll get a $200 annual airline credit to be used toward airline fees such as baggage fees and in-flight meals, a $200 hotel credit for use at Fine Hotels & Resorts and the Uber monthly credits mentioned amount to $200.

Plus, both cards provide a credit every four years to cover the cost of TSA Precheck or Global Entry, valued at $100. 

vs. : What Each Card Will Cost You

Neither the American Express Platinum Card and Chase Sapphire Reserve card are known for their low annual fees. In fact, it’s quite the opposite. Here’s more on the fees and annual percentage rate associated with each card. 

Fee American Express Platinum  Chase Sapphire Reserve 
Annual Fee
APR
Foreign Transaction Fee N/A N/A
Balance Transfer Fee N/A The greater of $5 or 5% of the transfer amount

Besides the considerable annual fee, there are other costs to think about; if you decide to carry a balance on the Chase card, it won’t be cheap. The APR with the Chase Sapphire Reserve card is .

Meanwhile, the American Express Platinum Card does not charge interest because you are expected to pay the balance in full each month. If you don’t want to pay in full, you must be deemed eligible for the Pay Over Time feature, in which case you will have to pay interest. Use the feature as a last resort — the current APR for the convenience is a bit lower than Chase’s but still a hefty .

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 greater. 

Which Is Better: or ?

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 that fee and make it worthwhile. It all depends on your lifestyle and purchasing habits. 

If you’re wondering which card is best, one could argue that the current Chase Sapphire Reserve bonus point offer trumps American Express Platinum’s because you’re required to spend less to get the same number of bonus points. You should also know how much traveling you’ll actually do in a calendar year. Frequent travelers will find more value in the American Express Platinum card with expanded access to airport lounges and over $600 in annual credits for airline, hotel and rideshare services. Plus, you’ll also receive up to $20 in statement credits each month — up to $240 annually — for digital entertainment purchases, such as subscriptions to Hulu, Peacock, Audible and Sirius XM. When you add up just these benefits, the high annual fee is more than covered.

However, the Chase Sapphire Reserve card shouldn’t be dismissed when you’re searching for a travel card. It’s a Visa card, which is more readily accepted worldwide, balances can be paid in monthly installments and has many similar benefits to the Platinum card for a slightly lower annual fee.

Which Card Is Right for You?

Even though the Chase Sapphire Reserve’s annual fee is $145 cheaper than the American Express Platinum’s annual fee, the American Express Platinum card might be worth it. If you’re a frequent traveler and use digital streaming services, the benefits the American Express Platinum Card offers will more than cover the card’s annual fee.

American Express Platinum vs. Chase Sapphire Reserve FAQ

Here are the answers to some of the most frequently asked questions.
  • What is the American Express Platinum vs. Chase Sapphire Reserve annual fee?
    • The American Express Platinum annual fee is higher than Chase's at $695 per year versus Sapphire Reserve's $550 per year.
  • Is there an American Express Platinum vs. Chase Sapphire Reserve calculator?
    • American Express has an online points calculator that helps you understand how much your points could convert to when redeemed for travel, merchandise, statement credits and more. Chase doesn't provide a points calculator. Transfers and bookings are generally worth one cent per point. Keep in mind that points can have more value if redeemed through Ultimate Rewards since Reserve cardholders receive a 50% bonus when redeeming.
  • What credit score do you need for American Express Platinum or Chase Sapphire Reserve?
    • Both cards are considered premium and are reserved for individuals with good to excellent credit. However, there are many factors that could affect your chances of approval, such as income, the amount of debt you carry and more.

Gabriella Olya and Cynthia Measom contributed to the reporting for this article.

GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack, Inc., an online marketing company serving top-tier banks, credit unions and other financial services organizations. Some companies mentioned in this article might be clients of ConsumerTrack, Inc., which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by the companies included in the article. All fees and rates are subject to change at the issuers’ discretion. Some interest rates might be short-term or promotional offers only, and it is possible additional terms and conditions must be met in order to obtain the interest rates listed. Rates and availability might vary by region. Verify terms and conditions before opening an account.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Nov. 13, 2022.

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.

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.

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About the Author

Cynthia Paez Bowman is a personal finance writer with degrees from American University in international business and journalism. Besides writing about personal finance, she writes about real estate, interior design and architecture. Her work has been featured in MSN, Brex, Freshome, MyMove, Emirates’ Open Skies magazine and more.
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