Access is exclusive for Platinum and Centurion (Black) cardholders. This compensation comes from two main sources. For rates and fees of the Amex Platinum card, please click here. Next, there's an airline fee credit each calendar year**. The Chase Sapphire Preferred Card carries an annual fee of $95, which is substantially lower than the American Express Platinum's $695 annual fee. $240 Digital Entertainment Credit: Get up to $20 back each month on eligible purchases made with your Platinum Card on one or more of the following: Audible, Disney+, The Disney Bundle, ESPN+, Hulu, Peacock, SiriusXM, and The New York Times. Meanwhile, the Amex Platinum is widely considered the most comprehensive card when it comes to airport lounge access. The credit card offers that appear on the website are from credit card companies from which ThePointsGuy.com receives compensation. You can get up to $200 a year in Uber credits each card member year. (Rates & Fees) and offers a variety of valuable perks , including: Read a full review of the Amex Platinum Card, and All told, Chase can transfer to 11 airlines and three hotel brands. Up to $189 annual Clear membership statement credit. Eligibility and Benefit level varies by Card. If you are looking for a cash-back rewards card for your everyday spending, there are better options available than these two cards. The Check here before booking an award fare. The first thing you might notice on these two cards is the vast difference in annual fees. Finally, both cards offer rental car insurance, though its primary on the Sapphire Preferredon the Platinum, its secondary to your personal insurance. Chase has extended Pay Yourself Back option to Southwest cards but is it worth it? I get near full value out of the: Thats $879 worth of credits that Im more or less maximizing, Points are worth 1.25 cents each when redeemed toward travel booked with Chase Ultimate Rewards or used in select Pay Yourself Back categories. There are even more places your Platinum Card can get you complimentary entry and exclusive perks. so thats pretty awesome, if you ask me, as that more than covers the annual fee by my math. Still, if you travel several times a year, it may be worth considering both as part of your card portfolio as long as you can tackle the hefty annual fees. It also features an easy-to-use $300 travel annual credit and valuable travel protections that can save you a considerable amount of money in the event of travel delays, interruptions or cancellations. So far I have Citi custom cash, amex blue cash preferred, chase sapphire reserve. Points are worth 0.6 cents each when used to cover past charges. Please visit americanexpress.com/benefitsguide for more details. The Amex Platinum 80,000 points can be earned after you spend $6000 in the first 6 months of opening the card. Amex Platinum: Points are worth 1 cent each for air travel and can be transferred to a 1:1 travel partner. Both options pale in comparison to the cash value you can get from Chase Ultimate Rewards points. TheAmex Platinum has a $695 annual fee Is it worth having Amex Gold and Chase Sapphire Preferred? No, those numbers are not typos. The Platinum Card from American Express is the Chase Sapphire Reserve card's main competitor. Credit Score ranges are based on FICO credit scoring. Terms, Conditions and Limitations Apply. To me, the only thing that the Amex Platinum and Past performance is not indicative of future results. These include: The Platinum Card from American Express If you frequently purchase airfare that would qualify for 5 points per dollar, this card deserves a spot in your wallet. Breeze through security with CLEAR lanes available at 100+ airports, stadiums, and entertainment venues and get up to $189 back per calendar year on your membership when you use your Card. Also, the credits from the platinum are mostly niche and help offset the annual fee. Please view our advertising policy page for more information. In the right hands, the classic status card's staggering annual fee is well justified. But wait! Earn 3 points per dollar on other travel and dining and 1 point per dollar spent on all other purchases. For help you can call 866-3-HUNGRY (866-348-6479) or 877-8-HAMBRE (877-842-6273). $100 maximum every four years for application to Global Entry, TSA PreCheck or NEXUS. That means that Amex points are slightly more valuable than Chase points. Airfare booked through the Ultimate Rewards portal. Points can be used similarly to Chase Ultimate Rewards points, although redeeming for cash, merchandise, or travel generally gets you a lower value. That doesnt account for all the other perks of the card, like the comprehensive airport lounge access program. Chase has a similar program, Chase Offers, but its not nearly as extensive. It also has an equally broad 3 points per dollar spent on dining that the Platinum cant match. Right on! Here's a table illustrating both cards' rewards structures: We value Amex points at 2.2 cents each and Chase points at 2.0 cents each. Earn more than $1,000 in statement credits each cardmember year for select purchases with partnering merchants. This is $1000 per month of required spending. To start, the annual fees are a little bit misleading. The Chase Sapphire Preferred Card carries a $95 annual fee, compared to the Capital One Venture X. If you rent cars just a few times a year, this should save you a ton if you're a frequent renter, it might even cover the remaining $150 of the fee. The Platinum Card's $695 annual fee is exceptionally high -- even for a premium travel card. If you prefer an Amex, consider the American Express Green Card*. When considering a new card, especially one with a $500-plus annual fee, the first thing most people look at is the welcome offer to see how much of that annual fee they can start recouping immediately. We've picked the best credit cards in a way designed to be the most helpful to the widest variety of readers. Subscribe. This is worth approximately $2,000 to $2,500 depending on your redemption method. However, not everyone uses a ride-sharing service or places an Uber Eats order in the U.S. once a month, which means the 10 points per dollar spent on Lyft rides with the Sapphire Reserve might be a more valuable option. Please visit americanexpress.com/benefitsguide for more details. Eligibility and Benefit level varies by Card. However, they offer slightly different value propositions. Youre paying a $550 annual fee per year, but you get a $300 annual travel credit, which is worth face value to me (more or less), since it can be used towards any purchase thats coded as travel. On the surface, 3 points per dollar on these categories is respectable. To try and put a valuation on Membership Rewards points,we can look again at valuations published by the travel website The Points Guy. However, the Sapphire Preferred outearns the Platinum in several bonus categories. Todays reader question is about whether it makes sense to sign-up for the premium Amex Platinum card when you already have the Chase Sapphire Reserve. There are plenty of other benefits that come with the Platinum Card, including exclusive access to a concierge service,a credit to cover enrollment in TSA PreCheck/Global Entry, purchase protections,a free membership in Boingo's preferred plan, which gets you access to more than 1 million WiFi hotspots around the world,access to the AmEx Fine Hotels and Resorts program, and much more. Please visit americanexpress.com/benefitsguide for more details. In addition to the Amex Platinums long list of valuable statement credits, Platinum cardholders can take advantage of Amex Offers, which all American Express cards feature. The $50 annual credit against hotel purchases made through Chase Travel offsets about half the $95 annual fee. Some have transfer ratios below 1:1, have longer transfer times (which means you risk watching your award space disappear) or simply dont have reasonably priced redemption options. If you can take advantage of all the annual statement credits and luxury perks, these cards can actually complement each other well. Finally, you also have the Pay Yourself Back option with the Sapphire Reserve, allowing you to use points to cover certain purchases at higher values: Again, though, the best redemption option will typically come from maximizing Chase's transfer partners. The annual fee is $99. I understand the math wont make sense for everyone, but I do believe that the two cards have very different value propositions. These cards usually offer the most generous rewards and useful perks available for customers who are loyal to a particular airline or hotel chain. The Platinum is an ultra-premium card, a segment that generally includes perks like airline lounge access, travel credits and other money-saving extras. Some of the best are ANA Mileage Club, Air Canada Aeroplan and Avianca LifeMiles, each of which offers attractively priced options for booking Star Alliance tickets. If you don't buy insurance, you'll still be covered during a delay, and you'll be covered for potentially hundreds of dollars. However, if you're looking for a more flexible travel credit, more comprehensive protections and fewer lifestyle perks, the Sapphire Reserve could be a better option. For starters, the Sapphire Reserve still has an edge over Amex regarding the $300 annual travel credit. You'll earn about 3,000 points per month, or 36,000 in a year. Chase Dining purchases made through the Ultimate Rewards portal. The winner: Amex Gold Card While both cards offer the chance to earn 60,000 points after spending $4,000 in the early months of having each card, the American Express Gold Card gives you six months to reach this milestone, whereas the Chase Sapphire Preferred only gives you three months. Each account anniversary you'll earn bonus points equal to 10% of your total purchases made the previous year. Offering a rare mix of high rewards rates and redemption flexibility, this card is a dream for frequent spenders on travel & dining - while charging a modest annual fee. Our opinions are our own, and have not been reviewed, approved, or endorsed by our advertising partners. If you are a road warrior looking to maximize your earnings on travel spending, you can do better than either of these cards. Compare the cost in points or miles to cash, and see which option is best. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc. 2023 Forbes Media LLC. Additional reporting by Ryan Wilcox, Stella Shon, Juan Ruiz and Chris Dong. With its $695 annual fee (see rates and fees), the Amex Platinum is currently offering new applicants 80,000 Membership Rewards points after they spend $6,000 on purchases in the first six months of cardmembership. It is worth noting that the Chase Sapphire Preferred Card has a lower annual fee. Winner: Chase Sapphire Reserve comes out on top for redemption options since it offers a 1:1 transfer ratio for all of its airline and hotel partners, the Pay Yourself Back feature and more flexibility with its 50% bonus for travel booked in Ultimate Rewards. Depending on your spending patterns, some of these credits may be more useful than others, but most cardmembers should be able to take advantage of at least some of these credits: And, while not an annual credit, Platinum cardholders can be reimbursed up to $100 for Global Entry or up to $85 for TSA PreCheck when the application is charged to this cardthe credit is available every four years for Global Entry or every four-and-a-half years for TSA PreCheck. Our opinions are our own, and have not been reviewed, approved, or endorsed by our advertising partners. Terms, Conditions and Limitations Apply. Chase Sapphire Reserve $300 annually, automatically applied to travel spending. Amex Platinum. Earn 5x on travel purchased through Chase Ultimate Rewards, 3x on dining and 2x on all other travel purchases, plusRead More. In addition to 11 airline and three hotel transfer partners, Sapphire Reserve customers get a 50% bonus when redeeming points for travel directly through the Chase Ultimate Rewards portal. Terms apply to the offers listed on this page. *Eligibility and benefit level varies by card. New IHG Rewards Premier Credit Card cardholders can earn 175,000 Bonus Points after spending $3,000 on purchases in the first 3 months from account opening. The Chase Sapphire Preferreds current welcome bonus is: 60,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening. Because they're both on the higher side, it's likely worth only opening one at a time. Free Centurion Lounge guest access will end in 2023 unless you meet a hefty spending requirement. Other money-saving extras Platinum: points are worth 0.6 cents each when used cover. 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