American Express Platinum vs. Chase Sapphire Reserve: What Each Card Will Cost You
Both the American Express Platinum Card and Chase Sapphire Reserve card carry a hefty annual fee.
|Chase Sapphire Reserve Annual Fee||Platinum Card from American Express Annual Fee|
|$450; $75 for each authorized user||$550; $175 for additional cards|
The variable APR with the Chase Sapphire Reserve card is 17.99 percent to 24.99 percent.
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.
Chase Sapphire Reserve vs. American Express Platinum: Which Card Has Better Rewards?
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. You get the most value when you redeem points for travel, which includes airfare, hotels, car rentals and cruises. For example, if you have 50,000 points, that’s worth $750 toward travel, or $500 toward other redemption options.
The Amex Platinum Card 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 50,000 points, you’ll get $500 toward airfare. However, that’s only equal to $350 for hotels and cruises. You can also get the highest ratio — 100 points equals $1 — when you redeem for certain gift cards, including Carnival gift cards, Fairmont Hotels & Resorts gift cards and Benihana gift cards.
Also Check Out: Chase Sapphire Preferred Review — Generous Travel Rewards
Other Perks of the Chase Sapphire Reserve and American Express Platinum Cards
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:
New Chase Sapphire Reserve cardholders will get 50,000 bonus points — worth $750 toward travel — for spending $4,000 on purchases within the first three months.
To get the sign-up bonus from the Platinum Card from American Express, spend $5,000 on purchases in the first three months, and you’ll earn 75,000 Membership Rewards points. That’s equal to $750 for airfare and certain gift cards, but less with other redemption options.
One perk that the Platinum Card from American Express has that the Chase Sapphire Reserve card lacks is complimentary Uber credits. With the Platinum Card, you’ll have Uber VIP status and get $15 toward rides each month, and an extra $20 in December.
Airport Lounge Access
The Chase Sapphire Reserve card includes complimentary access to over 1,000 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.
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.
Amex Platinum benefits at hotels include daily breakfast for two, room upgrades when available, guaranteed 4 p.m. late check-out, noon check-in when available and complimentary Wi-Fi at Fine Hotels & Resorts.
With the Chase Sapphire Reserve card, each year you’ll get a $300 statement credit that can be used toward any travel purchases. With the Platinum Card from American Express, you’ll get a $200 annual credit, but it can only be used toward airline fees such as baggage fees and in-flight meals.
Both cards provide a credit every four years to cover the cost of TSA Precheck or Global Entry.
Click through to read more about luxury credit cards you wish you could get.
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