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Amex Platinum vs. Chase Sapphire Reserve: Elite travel cards with competing perks

Updated 6 min read
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The Platinum Card? from American Express and the Chase Sapphire Reserve? are among the most expensive credit cards on the market. However, if you're a travel enthusiast, the benefits these premium credit cards offer can easily outweigh their costs.

But with many overlapping perks, it doesn’t make sense for most people to have both, so it's important to carefully compare the two options to determine which is better for you. Here's what you need to know.

In this article:

  • Annual fee
    $695
  • Welcome offer
    Earn 80,000 Membership Rewards? points after spending $8,000 in the first 6 months
  • Card type(s)
    Travel
  • Ongoing Purchases APR
    See Pay Over Time APR
  • Recommended credit score
    Excellent/Good
  • Rewards rate
    • 5x points for flights booked directly with airlines or with American Express Travel (up to $500,000 per year)
    • 5x points on prepaid hotels booked with American Express Travel
    • 1x points on all other purchases
  • Benefits
    • Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts or The Hotel Collection bookings with American Express Travel (requires a minimum two-night stay)
    • Get up to $199 back per calendar year on your CLEAR Plus membership (subject to auto-renewal) when you use your card (CLEARLanes are available at 100+ airports, stadiums, and entertainment venues)
    • Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the U.S. annually (you must have the latest version of the Uber App downloaded and your eligible American Express Platinum Card must be a method of payment in your Uber account; Amex benefit may only be used in United States)

The Amex Platinum offers up a wide range of statement credits and travel perks, but lacks significant rewards for everyday spending.

Why we like it: You'll be hard-pressed to find a credit card that offers more value than the Amex Platinum. While the reward rates on purchases aren’t especially notable, you can get more than $1,500 in value every year in the form of statement credits toward digital entertainment, airline fees, prepaid hotel stays, and more. You'll also get Uber Cash each month, which you can use for Uber rides or Uber Eats delivery.

The card also offers complimentary access to several airport lounge networks, elite status with Marriott Bonvoy, Hilton Honors, Avis, Hertz, and National Car Rental, and many other travel and lifestyle benefits.

  • Generous welcome offer: The card offers a sizable welcome bonus, and while the spending requirement is steep, Amex gives you six months to meet the threshold instead of the standard three.

  • Unparalleled benefits: It may take you some time to make the most of the card, partially because there are so many perks to keep track of. But if you're a frequent traveler, the Platinum Card can elevate nearly every aspect of each trip you take.

  • Prestige: The Platinum Card has been the standard for other premium credit cards since it first launched in 1984. The heft of the metal card and classic Centurion design adds cachet to your wallet.

  • Maximizing rewards can take some work: Due to the structure of many of the card's statement credits, it can take some strategy to make the most of what it offers. Be prepared to track your rewards regularly in order to ensure you’re getting all the value you can from the card.

  • Spending rewards are lacking: The card doesn't offer any bonus rewards on everyday spending categories, and while Membership Rewards points are flexible, most redemption options will give you less than 1 cent per point in value, which is the standard for points and miles credit cards. Generally, your best bet is to transfer your rewards to one of Amex's airline or hotel loyalty program partners.

  • Steep annual fee: While you can expect a high annual fee for any premium credit card, the Platinum Card's is higher than most. That may not be an issue if you regularly take advantage of the card's perks, but it's a major obstacle for most people.

  • Annual fee
    $550
  • Welcome offer
    Earn 60,000 bonus points after spending $4,000 in the first 3 months (that's $900 toward travel when you redeem through Chase Travel?)
  • Card type(s)
    Travel
  • Ongoing Purchases APR
    22.49% - 29.49% Variable
  • Recommended credit score
    Excellent
  • Rewards rate
    • 10x points on hotels and rental cars purchased through Chase Travel*
    • 5x points on flights purchased through Chase Travel*
    • 3x points on dining and other travel purchases
    • 1x points on all other purchases
    • *After the first $300 is spent on travel purchases annually
  • Benefits
    • Points are worth 50% more when you redeem through Chase Travel
    • Earn up to $300 in annual statement credits for travel purchases
    • Receive up to a $100 statement credit every four years to cover the application fee for Global Entry, TSA PreCheck, or NEXUS

The Chase Sapphire Reserve serves up an attainable welcome offer, but the highest rewards on spending are only offered on travel booked through Chase.

Why we like it: The Chase Sapphire Reserve is a rewards powerhouse, offering several ways to rack up a ton of points in a variety of spending categories. What's more, the Chase Ultimate Rewards program offers both versatile and valuable redemption options.

While you can redeem your rewards for things like cash back and gift cards at a rate of 1 cent per point, you'll get 50% more value if you use your points to book travel through Chase's travel portal. Alternatively, you can transfer your rewards to more than a dozen airline and hotel loyalty programs.

The card also offers complimentary access to Priority Pass and Chase Sapphire lounges, a flexible annual travel credit worth $300, and several travel protections to give you peace of mind when a trip doesn't go as planned.

You'll also get a complimentary two-year Lyft Pink membership, a minimum one-year complimentary DoorDash DashPass subscription (when you activate by Dec. 31, 2027) and $5 in DoorDash credits each month, and a complimentary one-year Instacart+ membership and up to $15 in monthly statement credits through July 2024.

  • Massive welcome bonus: The card's welcome bonus is significant, especially if you use your hard-earned points to book travel through Chase.

  • Impressive rewards program: You'll not only earn great rewards on various spending categories, but you'll also get incredible value when you use your rewards to book travel through Chase. If you're taking a break from travel, you can safely redeem your rewards in other ways without losing too much value.

  • Great perks: While it's not as comprehensive as the Amex Platinum, the Sapphire Reserve offers a lot of value with its flexible travel credit, airport lounge access, and other travel benefits.

Learn more: See our picks for the best Chase credit card

  • Rewards are somewhat complicated: While the card's rewards program is incredibly valuable, there may be a steep learning curve when it comes to tracking all the bonus categories and maximizing the value out of your redemptions.

  • High annual fee: While the Sapphire Reserve charges a lower annual fee than the Platinum Card, it doesn't offer as many ways to offset that cost each year, making it harder to justify with perks alone.

  • Must book through Chase to get highest rewards: While the card offers a solid 3x points on general travel and dining, the highest rewards for spending are reserved for travel booked through the Chase portal. For those who prefer to book directly with the travel provider, this could be an added hassle.

You may consider the Platinum Card if you're a frequent traveler and value premium benefits on every trip you take.

However, the card's steep annual fee and complicated perks are best suited for people who are willing to do a little extra legwork to squeeze as much value out of it as possible.

The Sapphire Reserve is a bit more accessible than the Platinum Card, both in terms of its yearly cost and straightforward benefits. You may also prefer this option if you want to focus on earning rewards.

That said, it doesn't offer nearly as much value on the benefit side of things, so if your priority is enjoying premium travel perks, it might not be the best fit.

For the most enthusiastic travel rewards hobbyists, there are enough differences between the two cards to justify getting the best of both worlds. True jet-setters may want to maximize the spending rewards of the Sapphire Reserve and the luxury perks of the Amex Platinum.

However, the majority of people likely aren’t willing to pay $1,245 in annual fees to carry both cards. And unless you're traveling constantly, the perks overlap enough that you'll have a hard time maximizing either card.

While the Amex Platinum and Sapphire Reserve are two of the top premium cards on the market, there are plenty of other travel credit cards that offer ample rewards and benefits.

  • Annual fee
    $395
  • Welcome offer
    Earn 75,000 miles after spending $4,000 on purchases in the first 3 months
  • Card type(s)
    Travel
  • Purchase APR
    19.99% - 29.99% variable
  • Recommended credit score
    Excellent
  • Rewards rate
    • 10x miles on hotels and rental cars booked through Capital One Travel
    • 5x miles on flights and vacation rentals booked through Capital One Travel
    • 2x miles on all other purchases
  • Benefits
    • $300 annual credit for travel bookings through Capital One Travel
    • 10,000 annual bonus miles (worth $100 in travel spending; starts on your first account anniversary)
    • Unlimited access for you and two guests to Capital One Lounges and 1,300+ more lounges through partner networks

Why we like it: The Capital One Venture X Rewards Credit Card is a premium travel credit card that can work for both frequent and casual travelers alike. 

The card charges a hefty annual fee, but you can easily offset that with its annual credit toward Capital One Travel bookings and a 10,000-mile anniversary bonus each year. You can use miles to book travel through Capital One, book on your own and request a statement credit, or transfer your rewards to several airline and hotel loyalty program partners.

  • Annual fee
    $95
  • Welcome offer
    Earn 60,000 bonus points after spending $4,000 on purchases in the first 3 months (that's $750 when you redeem through Chase Travel?)
  • Card type(s)
    Travel
  • Ongoing Purchases APR
    21.49% - 28.49% Variable
  • Recommended credit score
    Excellent/Good
  • Rewards rate
    • 5x points on travel purchased through Chase Travel
    • 3x points on dining, select streaming services, and online groceries
    • 2x points on all other travel purchases
    • 1x points on all other purchases
  • Benefits
    • Points are worth 25% more when you redeem for airfare, hotels, car rentals and cruises through Chase Travel
    • Earn up to $50 in annual statement credits for hotel stays purchased through Chase Travel
    • On every account anniversary, earn bonus points equal to 10% of your total purchases made the previous year

Why we like it: The Chase Sapphire Preferred Card's affordable annual fee is easier to stomach compared to other premium cards. That said, the card still offers impressive value. Its welcome bonus equals that of the Sapphire Reserve, and it offers solid rewards on things like travel, dining, select online grocery purchases, and streaming services.

You'll get the same redemption options as the Sapphire Reserve, though the bonus for travel bookings through Chase is 25%, instead of the Reserve’s 50%. 

  • Annual fee
    $95
  • Welcome offer
    Enjoy a $250 Capital One Travel credit, plus earn 75,000 miles after spending $4,000 on purchases in the first 3 months
  • Card type(s)
    Travel
  • Purchase APR
    19.99% - 29.99% variable
  • Recommended credit score
    Good, Excellent
  • Rewards rate
    • 5x miles on hotels, vacation rentals, and rental cars booked through Capital One Travel
    • 2x miles on all other purchases
  • Benefits
    • Receive up to a $100 statement credit for Global Entry or TSA Precheck application fees
    • Receive a $50 experience credit, room upgrades, and early check-in at eligible hotels
    • Access Hertz's Five Star membership tier, offering free upgrades, a wider selection of vehicles, and more

Why we like it: As with the Sapphire Preferred, the Capital One Venture Rewards Credit Card charges a modest annual fee. 

The Venture Rewards Card offers the same flexible travel redemption options as the Venture X, making it easy to use your rewards for any kind of travel. On top of that, you'll get an application fee credit toward Global Entry or TSA PreCheck and elite status with Hertz.

This article was edited by Alicia Hahn

Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to the author(s) and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.