Chase Sapphire Preferred or Amex Platinum: Which Is Better?
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TPG reader Jonathan tweeted me to ask:
@thepointsguy- "Is the Chase Sapphire Preferred a better all-around credit card than the Amex Platinum?"
There's no single card that's universally "better" than all others, because the value of any given credit card depends on how you use it. What you personally get out of card—points, bonuses, redemption options, transfer partners, and perks—might make it valuable to you, but not to someone else with different spending patterns or award travel ambitions.
For example, the American Express Platinum card has perks like access to the Centurion lounge and Delta lounges, global entry reimbursement, an annual $200 airline fee credit, and more.
The Chase Sapphire Preferred card is probably the one I use the most, because I spend a lot on travel and dining, and you earn two Ultimate Rewards points per dollar in those categories. I get a lot of value from transferring points to partners like Hyatt, so I focus more on this card for points, and more on the Amex Platinum for perks. Ultimately, I don't think you need to choose one over the other; they each have their strengths.
Both cards have pretty good sign-up bonuses, (and we recently saw a targeted Amex Platinum offer for 100,000 Membership Rewards points through Cardmatch). I got a 100,000 point sign-up bonus for opening my Amex Business Platinum last year; if you can get in on the larger bonus, it's a no-brainer. Plus, Amex often runs transfer bonuses, like the recent Virgin America bonus and the 40% British Airways tranfer bonus ending this month. So even though you only earn one point per dollar with the Amex card, the value in transfers and perks makes up for it.
Again, if you had to get just one, I'd get Sapphire Preferred if you want to focus on earning points, or Amex Platinum if you're more interested in perks. But I think each one is a strong option, and that's why I have both!