In the world of premium rewards credit cards, two of the most widely known and used cards are the Chase Sapphire Reserve® and The Platinum Card® from American Express. American Express is a CardRatings advertiser. Both of these cards have great rewards earning rates and welcome offers, valuable point redemption benefits, and stellar travel perks. These cards come at a higher cost than many other travel credit cards so they are certainly not for everyone; however, for those looking for some of the best travel incentives on the market, both of these cards have a lot to offer. They have many similarities, but also some big differences. In particular, unlike typical credit cards, the the Platinum Card® allows you to carry a balance for certain charges, but not all. We break down all the details below.
Rewards earning rates
The Platinum Card® from American Express earns 5X Membership Rewards® points for flights booked directly with airlines or through American Express Travel (up to $500,000 on these purchases per calendar year), as well as on prepaid hotels booked on amextravel.com. Plus, earn 10x points on eligible purchases on your new card, up to $25,000 in combined spending, at restaurants worldwide and when you Shop Small in the U.S. during your first six months of card membership. All other purchases earn 1X point per dollar. The Chase Sapphire Reserve® also focuses on travel and dining. Book through the Chase portal to earn 5X points on air travel and 10X on car rentals (for purchases after earning your annual travel credit). Earn 3X Ultimate Rewards® points for each $1 spent on other travel (after earning your annual travel reimbursement) and dining purchases and 1X point per $1 on all other purchases.
Bonus offers
Both the Chase Sapphire Reserve® card and The Platinum Card® from American Express are currently offering excellent welcome offers for new cardholders. New Platinum users can earn 100,000 Membership Rewards® points after you spend $6,000 on purchases on your new card in your first six months of card membership.. The Reserve card, on the other hand, earns a little less, 50,000 points after spending $4,000 in the first three months, but points are worth 50% more when redeemed for travel through Chase Ultimate Rewards®. So if redeemed for travel, this bonus alone is worth $750.
Chase Ultimate Rewards® vs. American Express® Membership Rewards®
These cards don't come cheap, but as you’ll see in the chart below, there are plenty of great benefits to help offset the costs they carry. When it comes down to it though, the benefits are very similar. Deciding which card will profit you the most will really come down to your lifestyle and spending habits, and brand loyalties. If you’re a dedicated Chase credit card user, you might be better off with the Chase Sapphire Reserve®, because it, among a number of other Chase cards, earns Chase Ultimate Rewards® points, and thanks to the ability to combine Ultimate Rewards® points earned through the use of several different cards under a single card, savvy cardholders can maximize the value of every reward point earned.
For example, with the Reserve® card, purchases outside of the dining and travel categories only earn one point. If you were to add the no annual fee Chase Freedom Unlimited® card to your wallet though, you could earn 5% on travel purchased through Chase Ultimate Rewards®, 3% on dining at restaurants and on drugstore purchases, and 1.5% on all other purchases. Since you can pool those points under your Reserve account, they’d be worth 50% more. You can learn more about Chase Ultimate Rewards® and how to maximize them in our guide to Chase Ultimate Rewards®.
Similarly, many American Express cards, including The Platinum Card® from American Express, earn American Express Membership Rewards®, and these points are also combinable if you use multiple Membership Rewards®-earning cards. So if you’re already deep into the American Express family, you might be better off staying there. See our guide to American Express Membership rewards to learn more.
Redemption options
Both the Chase Sapphire Reserve® and The Platinum Card® from American Express have varied point redemption options including redeeming points directly for travel, transferring points to airline and hotel partners, and redeeming points for purchases on Amazon.com using the Shop with Points feature. For transfer partners, the Membership Rewards® program from American Express has over 20 airline and hotel partners that you can transfer points to and the Ultimate Rewards® program has 13 transfer partners – providing you with a lot of flexibility in how you travel.
To learn more, check out the table below to compare the various rewards, benefits, features, and fees associated with each card.
Amex Platinum vs. Chase Sapphire Reserve®
$550 annual fee for the primary cardholder, plus $75 annually for each authorized user
Earn 100,000 Membership Rewards® points after you spend $6,000 on purchases on your new card in your first six months of card membership.
50,000 bonus points after you spend $4,000 on purchases within the first three months of opening an account.
Earn 5X Membership Rewards® points for flights booked directly with airlines or through American Express Travel (on up to $500,000 on these purchases per calendar year), and on prepaid hotels booked on amextravel.com. Earn 10x points on eligible purchases, up to $25,000 in combined spending on your new card, at restaurants worldwide and when you Shop Small in the U.S. during your first six months of card membership. Earn 1X point per $1 on all other purchases.
Earn 5X points on air travel and 10X points on car rentals and hotels when you book through the Ultimate Rewards portal (and after earning your annual travel reimbursement); earn 3X points for each $1 spent on other travel (after earning the $300 annual travel reimbursement) and dining purchases and 1X point per $1 on all other purchases.
- Transfer points at varying rates to leading airline and hotel loyalty programs including Emirates, British Airways, Delta, and Marriott Bonvoy. See our guide to American Express Membership Rewards® for a full list of travel partners.
- Redeem for eligible charges on your billing statement.
- Redeem points for all or part of your travel booking on AmexTravel.com.
- Redeem for a wide selection of gift cards.
- Shop with Points at Amazon.com allows you to pay for all or part of your eligible order using your cash back rewards.
- 50% more value when redeemed for travel through Chase Ultimate Rewards®. For example, 50,000 points are worth $750 towards travel when redeemed through Chase Ultimate Rewards® compared to $600 when redeemed for cash.
- 1:1 point transfer to leading airline and hotel loyalty programs such as British Airways Executive Club, Southwest Airlines Rapid Rewards, Marriott Rewards, and the World of Hyatt. See our guide to Chase Ultimate Rewards® for a full list of travel partners.
- Redeem for a wide selection of gift cards.
- Shop with Points at Amazon.com allows you to pay for all or part of your eligible order using your cash back rewards
- Lost luggage reimbursement up to $3,000 per passenger
- Auto rental collision damage coverage which provides reimbursement up to $75,000 for theft and collision damage for rental cars in the U.S. and abroad
- And more
- Trip cancellation/interruption insurance up to $10,000 per person and $20,000 per trip for your pre-paid, non-refundable travel expenses
- Trip delay reimbursement up to $500 per ticket if you're delayed more than 6 hours or require an overnight stay
- Emergency evacuation and transportation coverage up to $100,000
- Emergency medical and dental reimbursement up to $2,500 for medical expenses if you or your immediate family member becomes sick or injured more than 100 miles away from your home
- Baggage delay insurance up to $100 a day for five days for baggage delays over 6 hours
- Lost luggage reimbursement up to $3,000 per passenger
- Auto rental collision damage coverage which provides reimbursement up to $75,000 for theft and collision damage for rental cars in the U.S. and abroad
- Roadside assistance up to $50 per incident up to four times a year
- And more
- Up to a $100 application fee credit for Global Entry or TSA PreCheck® ($85) application
- A $200 airline fee credit, up to $200 per calendar year in baggage fees and more at one pre-selected qualifying airline
- Access to the Global Lounge Collection®, including Centurion Lounge locations around the world
- Enjoy Uber VIP status and up to $15 each month, and $35 in December, in Uber Cash for rides and Uber Eats orders. That can be up to $200 in annual Uber savings.
- Enrollment required for select benefits.
- Up to a $100 application fee credit for Global Entry or TSA PreCheck® application
- $300 annual travel reimbursement statement credit
- Access to 1,000+ airport lounges worldwide after a one-time enrollment in Priority Pass Select
- Special hotel benefits such as complimentary room upgrades and early check-in and late check out offers
- Enjoy a complimentary Lyft Pink membership (a $199 minimum value)
- Purchase protection covering new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per year
- Extended warranty protection extends the original manufacturer’s warranty by matching the length if the warranty is less than two years or providing two additional years if the original manufacturer’s warranty is between two years and five years
- Return protection allowing reimbursement for eligible items that the store won't take back within 90 days of purchase, up to $300 per item, and $1,000 per year
- Purchase protection covering new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per year
- Extended warranty protection which extends the time period of the U.S. manufacturer's warranty by an additional year, on eligible warranties of three years or less
- Return protection allowing reimbursement for eligible items that the store won't take back within 90 days of purchase, up to $500 per item, and $1,000 per year
- 24/7 access to a customer service specialist
- 24/7 Platinum Club Concierge service to help with travel arrangements, obtaining tickets to events or even picking out the perfect gift for that special someone
- 24/7 access to a customer service specialist
- Access to a Visa Infinite Concierge who can help with things like dinner reservations or Broadway, music, and sporting event ticket bookings
For a full synopsis of each card, be sure to check out our The Platinum Card® from American Express and Chase Sapphire Reserve® reviews.
See Rates and Fees; terms apply for The Platinum Card® from American Express.
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