Chase Sapphire Reserve Vs. Amex Platinum

Both Chase Sapphire Reserve®* and The Platinum Card® from American Express carry hefty annual fees of $550 and $695 respectively. Fortunately, both cards offer attractive welcome offers that can offset the annual fee in the first year.

The Chase Sapphire Reserve®* has a welcome offer of 60,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening.

The Platinum Card® from American Express offers 80,000 Membership Rewards Points after spending $8,000 on purchases on the card in the first 6 months of card membership. Membership Rewards are typically worth about a penny a point when redeemed for cash-back as a statement credit, but savvy points-and-miles users know that transferring rewards to travel transfer partners can yield a better value.

The Sapphire Reserve comes with some of the best categories for earning bonus points. The card earns 5 points per dollar on flights and 10 points per dollar on hotels and car rentals when purchasing travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3 points per dollar on other travel and dining and 1 point per dollar spent on all other purchases.

Travel, per Chase, is a very broad category covering merchant categories such as airlines, hotels, campgrounds, car rental agencies, cruise lines, trains, rideshare, parking lots and more. The restaurant definition also expands to delivery services and takeout.

The Platinum Card earns 5 Membership Rewards Points per dollar for flights booked directly with airlines or with American Express Travel on up to $500,000 per calendar year, 5 points per dollar on prepaid hotels booked with American Express Travel and 1 point per dollar on other eligible purchases. While this card offers more points on these travel categories compared to the Sapphire Reserve, the defined categories are much more restrictive.

Chase Sapphire Reserve Card

An easy-to-use perk of this card is the annual $300 annual travel credit. Cardholders are automatically reimbursed for up to $300 of travel purchases after each account anniversary. Since this card is designed for travelers, it’s a benefit that makes sense for most. This credit helps partially offset the annual fee each year.

Lounges

Chase also has announced its own Sapphire-branded airport lounges. These lounges are slated to have amenities such as showers, business lounges, family rooms and rest areas. In addition to the Hong Kong lounge which has already launched, there are 9 locations in development including New York (LGA), Boston (BOS), San Diego (SAN), Phoenix (PHX) and Las Vegas (LAS). In the meantime, a complimentary Priority Pass Select Membership is available with enrollment when you have the Sapphire Reserve. This membership gives you access to more than 1,300 locations around the world. Notably, the Sapphire Reserve’s version of Priority Pass gives you access to airport restaurant locations, which the American Express version does not.

Trip Insurance

When using your Chase Sapphire Reserve card or Ultimate Rewards to pay for either yours or an immediate family member’s trip, trip cancellation and trip interruption insurance is offered. This protection can cover losses such as prepaid, non-refundable passenger fares, hotels, and tours.

Up to $10,000 per covered trip per person and a maximum limit of $20,000 per occurrence can be claimed. For example, a family of four experienced a total loss of $25,000 over an entire trip. $20,000 would be reimbursed as a maximum amount for this one occurrence. There is also a $40,000 12-month maximum benefit. Covered events include, but are not limited to injuries, severe weather and jury duty that cannot be postponed.

As a separate coverage from trip cancellation/interruption, this card also offers trip delay reimbursement. In a delay experienced in excess of six hours, eligible travelers can receive up to $500 each for unreimbursed expenses such as lodging, meals and other incidentals.

This card’s auto rental collision damage waiver is also top-notch. This primary coverage means claims can be filed through the card’s protection and not with another insurance company first. Simply decline the rental agency collision damage waiver (CDW) and loss damage waiver (LDW) at booking and pay using your card. losses. Rental vehicle coverage also includes loss of use charges and towing.

Other covered travel-related benefits include delayed/lost luggage, roadside assistance, emergency medical and dental, emergency assistance, and emergency evacuation.

BEST FLEXIBLE TRAVEL REWARDS CARD

4.9

Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.

Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Platinum Card

The Platinum Card offers a slew of travel-related benefits. Cardholders are able to enroll in Hilton Honors Gold status and Marriott Bonvoy Gold Elite status. Both of these statuses come with access to enhanced room upgrades, including late checkout, welcome gifts, bonus points on paid stays and more. A $200 hotel credit is also available for prepaid bookings at Fine Hotels + Resorts or The Hotel Collection properties when booked through American Express Travel, Hotel Collection bookings require a minimum two-night stay. Additionally, complimentary benefits through Fine Hotels + Resorts, with an average total value of up to $550 per stay at participating properties, are also available to cardholders.

This card also comes with an up to $200 annual airline fee statement credit. This credit is more restrictive than Chase’s as it only can be used on incidental fees, such as checked baggage or in-flight entertainment and refreshments on a single airline. This credit can only be used on a single airline from a select group of qualifying airlines that cardholders have the opportunity to choose from at the beginning of each year. In addition, annual $189 statement credits is also offered with enrollment for CLEAR® Plus membership, giving expedited security screening at airports.

Platinum cardholders who have their card connected to their Uber account receive Uber VIP status and a $15 monthly Uber Cash credit ($35 in December) that expires at the end of that same month. The credit can be used towards U.S. Uber rides and Uber Eats. Terms Apply.

Lounges

One of the most desired features is access to Centurion and International American Express Lounges. Food and drinks are complimentary and the upgraded lounge makes for a more relaxing pre-flight experience. Platinum cardholders are also permitted to use Delta Sky Clubs when flying same day with Delta. Like the Sapphire Reserve, a Priority Pass Select Membership is also available as a cardholder when you enroll though is more restrictive to having just lounge access.

Trip Insurance

The Platinum Card also has its own set of trip insurances. If your covered trip is canceled or interrupted, you may be eligible for reimbursement of up to $10,000 per covered trip and $20,000 per eligible card per 12 consecutive month period.¹

If emergency medical assistance is required during your trip, the Platinum Card also offers global assistance to help connect you with emergency evacuation or transportation assistance as needed.²

Car rental insurance³ is also available, but note that it’s secondary coverage unlike the Sapphire Reserve Card, which is primary coverage.

BEST FOR LUXURY TRAVEL BENEFITS

The Platinum Card® from American Express

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On American Express's Website

Partner Offer

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Rates & Fees / Terms Apply

4.8

Our ratings take into account the card's rewards, fees, rates along with the card's category. All ratings are determined solely by our editorial team.

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On American Express's Website

5X Reward Rate

Earn 5 Membership Rewards Points per dollar on prepaid hotels booked with American Express Travel and on flights booked directlyRead More

Welcome Bonus

Earn 80,000 points

Annual Fee

$695

Regular APR

See Pay Over Time APR

Credit Score

Excellent/Good (700 - 749)

Editor's Take

The Platinum Card is destined for frequent travelers who intend to fully leverage the rich set of luxury travel benefits and Platinum Concierge service. In the right hands, the classic status card’s staggering annual fee is well justified.

Pros & Cons

• High reward potential on flights and hotels booked through American Express Travel
• Multiple credits can help justify the fee
• Comprehensive airport lounge access
• Luxury travel benefits and elite status with Hilton and Marriott with enrollment

• Very high annual fee
• Maximizing the statement credits takes some work and could be impractical for many
• Reward rate outside of travel is sub-par for a premium card

Card Details

• Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.
• Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
• $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when you pay with your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
• $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
• $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership (subject to auto-renewal) with a statement credit after you pay for Walmart+ each month with your Platinum Card®. Cost includes $12.95 plus applicable local sales tax. Plus Up Benefits are excluded.
• $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card®.
• $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only. Terms Apply.
• $300 Equinox Credit: Get up to $300 back in statement credits per calendar year on an Equinox membership, or an Equinox club membership (subject to auto-renewal) when you pay with your Platinum Card®. Enrollment required. Visit https://platinum.equinox.com/ to enroll.
• $189 CLEAR® Plus Credit: Breeze through security with CLEAR Plus at 100+ airports, stadiums, and entertainment venues nationwide and get up to $189 back per calendar year on your Membership (subject to auto-renewal) when you use your Platinum Card®. Learn more.
• $100 Global Entry Credit: Receive either a $100 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
• Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That’s up to $50 in statement credits semi-annually. Enrollment required.
• $300 SoulCycle At-Home Bike Credit: Get a $300 statement credit for the purchase of a SoulCycle at-home bike with your Platinum Card®. An Equinox+ subscription is required to purchase a SoulCycle at-home bike and access SoulCycle content. Must charge full price of bike in one transaction. Shipping available in the contiguous U.S. only. Enrollment Required.
• Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card® to your Resy profile.
• $695 annual fee.
• Terms Apply.

Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership.

Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Being able to transfer your earned points to various travel partners is where both the Ultimate Rewards and Membership Rewards programs shine with travelers. Both of these premium cards do permit such transferring while it may not be the case for their fee-free versions.

Below is a transfer table. Most of the points in either program will transfer at 1 Ultimate Reward/Membership Reward to 1 ratio with outliers noted and usually are in 1,000 point increments. Keep in mind that both programs occasionally run transfer promotions where you can obtain additional points when transferring.

Sometimes when you use your points for award bookings, you don’t receive the full benefits. An example would be not earning miles on a flight if you make an award booking.

For Chase, if cardholders prefer to book travel more directly, points used are given a 50% boost in value when using for travel booked through Chase’s travel portal instead of a direct cashback option. So if 50,000 bonus points are used for travel purchases, $750 would be taken off the final cost of booking. Keep in mind that if you book a hotel through the travel portal, you may not have your hotel elite status fully recognized or night credits.

For the Platinum Card, there is no redemption bonus when using points if you just have the personal card. That said, if you also have The Business Platinum Card® from American Express and you’re redeeming your points on a flight on your selected incidental airline of choice, you receive a 35% rebate on the points that you use (up to 1 million points per calendar year) (Terms apply, see rates & fees).

Owning the Chase Sapphire Reserve gets you access to exclusive benefits from a few partner brands. These include:

• Lyft: Earn 10 total points per dollar on Lyft rides and receive a complimentary 2-year Lyft Pink All Access membership.
• Gopuff: Receive a $10 monthly statement credit.
• DoorDash: Get $5 in DoorDash credits per month and receive a complimentary DashPass membership for a minimum of one year.
• Instacart: Receive complimentary Instacart+ for one year. Also, Instacart+ members get $15 in monthly statements through July 2024.

For the Platinum Card, you have access to some favorable everyday lifestyle perks. The Amex Platinum offers an up to $240 ($20 per month with enrollment) digital entertainment benefit for use toward purchases or subscriptions to Disney+, The Disney Bundle, ESPN+, Hulu, Peacock, and The New York Times.

Amex Platinum cardholders also receive an up to $300 in annual statement credits towards select Equinox memberships or a digital subscription to Equinox+, an on-demand fitness app (with enrollment). For purchases made in-store or online at Saks Fifth Avenue, up to $100 in statement credits, $50 from January to June and $50 from July to December is available. This benefit does require enrollment on the American Express website but is usually applied within one statement cycle after your purchase is made.

Avoiding a High Annual Fee

This one is just glaring for many. The $550 annual fee for the Chase Sapphire Reserve or the $695 annual for the Platinum Card is steep. Both card issuers do have lower-priced travel cards, although with reduced perks.

Infrequent travelers are likely to have a hard time justifying paying for both of these annual fees. While you can avoid paying interest by paying the card balance in full monthly, the annual fee can’t be skated around. It’s simple: if you can’t obtain more value than the cost of the annual fee, then it isn’t worth it.

Redeeming Your Rewards for Something Other Than Travel

Both Ultimate Rewards and Membership Rewards can be redeemed outside of travel-related categories, but it comes at an indirect cost. A simple example is that both points can be used to offset purchases made on Amazon.com. Using Ultimate Rewards® and Membership Reward® would make a $30 purchase require 3,750 points and 4,286 points respectively. These severely discount the value of the points used when compared to being used on travel where, for example, 3,750 Ultimate Rewards® has a floor value of $56.25.

Having both cards allows you to create combinations to make travel cheaper or to travel in style. Having both cards and meeting the minimum spend requirements to obtain both of the welcome bonuses would reward you with a nice pile of points. Multiple programs partner with both Ultimate Rewards and Membership Rewards, allowing you to transfer a large sum of points into the same frequent flyer account quickly.

Both the Sapphire Reserve and the Platinum Card are excellent for frequent travelers. Of course, taking on both cards at one time could be daunting given their annual fees. They both excel in different areas when compared to each other, so you should take careful consideration before applying. The key is determining if at least the annual fee’s value can be achieved, even more so after the first year.

To view rates and fees of The Platinum Card® from American Express, please visit this page.
To view rates and fees of The Business Platinum Card® from American Express, please visit this page.
¹The maximum benefit amount for Trip Cancellation and Interruption Insurance is $10,000 per Covered Trip and $20,000 per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
²Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. If approved and coordinated by Premium Global Assist Hotline, emergency medical transportation assistance may be provided at no cost. In any other circumstance, Card Members may be responsible for the costs charged by third-party service providers.
³Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.