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The Points Guy believes that credit cards can transform lives, helping you leverage everyday spending for cash back or travel experiences that might otherwise be out of reach. That's why we publish a variety of editorial content and card comparisons: to help you find a great card to turn your goals into reality.
Our site may earn compensation when a customer clicks on a link, when an application is approved, or when an account is opened with our partners, and this may impact how or where these products appear. While we don't cover all available credit cards, our editorial team creates and maintains all of the analysis of these cards, and our content is not influenced nor subject to review by any credit card company, bank or partner prior to (or after) publication. Please view our advertising policy and product review methodology for more information.
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Amex Platinum vs. Chase Sapphire Reserve: Which card is right for you in 2022?
Ethan's been a frequent flier for as long as he can remember, from studying abroad in Paris to moving to Shanghai after graduating college, where he served as TPG's eyes and ears for all things travel in the Asia-Pacific region. If you asked him where he wants to travel next he'd quote Anthony Bourdain and tell you "anytime I'm eating spicy noodles in a bowl, I'm happy."
June 5, 2022 • 15 min read
The cards we feature here are from partners who compensate us when you are approved through our site, and this may impact how or where these products appear. We don't cover all available credit cards, but our analysis, reviews, and opinions are entirely from our editorial team. Terms apply to the offers listed on this page. Please view our advertising policy and product review methodology for more information.Editorial disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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Quick summary
This article compares two leading premium travel rewards cards, analyzing their welcome offers, earning potential, redemption flexibility and luxury perks.
One card stands out for its extensive lounge access and hotel elite status, appealing to those seeking a luxury travel experience.
The other card offers broader bonus categories for everyday travel and dining purchases, making it easier to maximize rewards long-term.
Both cards provide valuable statement credits, travel protections and flexible point transfer options to airline and hotel partners.
What to consider
Some offers mentioned in the article are no longer available.
Eligibility for certain benefits, such as statement credits or elite status, may require enrollment or specific actions.
Point values for both cards' loyalty programs are estimated at 2 cents each as of June 2024 per TPG's valuations.
What you'll miss from the article
A detailed side-by-side breakdown of perks, earning structures and redemption strategies to help you decide which premium card best fits your travel style.
Generated by AI with support from our editorial team.
Update: Some offers mentioned below are no longer available. View the current offers here.
It seems like almost every airline, hotel chain and credit card issuer has launched its own premium credit card, enticing customers with luxury travel perks to offset hefty annual fees. Many of these cards offer solid value, especially if you’re loyal to the underlying brand.
Despite more recent entrants like the Capital One Venture X Rewards Credit Card, there are two undeniable titans of the premium card market: The Platinum Card® from American Express and the Chase Sapphire Reserve.
The former built the market for premium rewards cards decades ago, while the latter is responsible for growing its mass appeal.
Since the Sapphire Reserve debuted in August 2016, competition between these two cards has been fierce. Today, we’re going to take a look at how they stack up against each other and whether you should consider adding one (or both) to your wallet.
Welcome bonus
(Photo by Ryan Patterson/The Points Guy)
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.
With its $695 annual fee (see rates and fees), the Amex Platinum is currently offering new applicants 80,000 Membership Rewards Points after you spend $6,000 on purchases within the first six months of card membership.
You’ll also earn 5 points per dollar on flights booked directly with airlines and flights and prepaid hotels on AmexTravel.com booked by both you and additional cardmembers on up to $500,000 in purchases per calendar year.
TPG values American Express' Membership Rewards points at 2 cents each, making the initial welcome offer of 80,000 points worth $1,600 alone. Since Amex only allows you to earn a welcome offer on each of its cards once per lifetime, it might be wise to hold off on applying for the Amex Platinum in hopes that you may be targeted through CardMatch for a higher bonus at some point in the future (offers are subject to change at any time).
Meanwhile, the Chase Sapphire Reserve offers a sign-up bonus of 80,000 bonus points after you spend $4,000 in the first three months from account opening.
TPG also values Ultimate Rewards points at 2 cents each, making this bonus worth $1,600. That’s significantly lower than the Amex Platinum offer, though the spending requirement to earn the bonus is also lower.
Winner: The Amex Platinum takes the lead in this first category, especially if you are targeted for an elevated offer through CardMatch.
Earning
Long after your bonus has been earned and spent, you’ll want a card that will help you rack up valuable transferable points quickly.
Both of these cards get that done but in very different ways. Your best option depends on which other Chase or Amex cards you currently have in your wallet and how the bonus categories on those other cards overlap with the Chase Sapphire Reserve and Amex Platinum.
Here are the bonus categories for these two cards:
Airfare booked through the Chase Ultimate Rewards portal.
3 points per dollar
N/A
Travel and dining.
1 point per dollar
On other purchases.
On other purchases.
Chase offers a broader range of bonus categories, including everyday purchases like travel and dining.
While the Amex Platinum does pull ahead in the short term and on most airfare purchases, the Chase Sapphire Reserve pulls ahead for dozens of other travel expenses, including most hotels, ride-sharing services, parking fees, tolls, tours and more. It also has an equally broad 3 points per dollar spent on dining category that the Platinum can’t match.
Winner: The Chase Sapphire Reserve is the best for earning, thanks to its favorable everyday bonus categories that help you earn more points in the long term.
Redemption options
(Photo by Wyatt Smith/The Points Guy)
With Chase Ultimate Rewards and Amex Membership Rewards tied at 2 cents apiece in TPG’s valuations, it’s up to you to look at the different transfer partners and decide which ones best suit your needs.
Let’s start with the Chase Sapphire Reserve. 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. This gives you a minimum redemption value of 1.5 cents per point, meaning you can book a seat on any flight that’s for sale, even if there isn’t award space available.
Better yet, these bookings are treated like cash tickets, so you’ll earn redeemable and elite miles on them, further increasing your value. You can also redeem points at a rate of 1.5 cents per point on purchases at Airbnb and dining at restaurants (including takeout and eligible delivery services) with Chase's Pay Yourself Back feature.
Amex Membership Rewards has a whopping 20 transfer partners, including 17 airlines and three hotels, but not all of them are worth your attention. Some have transfer ratios below 1:1, or longer transfer times (which means you risk watching award space disappear), while some simply don’t have reasonably priced redemption options.
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 (1.5 cents per point) for travel booked in the Ultimate Rewards portal.
Perks and benefits
The Chase Sapphire Reserve and Amex Platinum are two of the most valuable rewards cards on the market, but they’re also two of the most expensive.
You’ll pay a $550 annual fee with the Sapphire Reserve and a $695 annual fee with the Amex Platinum (see rates and fees).
So, what do you get in exchange for those upfront costs? For starters, both cards feature airport lounge access and additional travel and food delivery credits, among other benefits. Let’s take a look below at the most popular and valuable benefits available with each card:
Pay your monthly cell phone bill with your card and get up to $800 per claim (with a $50 deductible) with a limit of two claims in a 12-month period.*
None.
*Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for more details. See our complete guide to travel protections on American Express cards. The trip cancellation and interruption insurance, trip delay insurance and cell phone protection are underwritten by New Hampshire Insurance Company, an AIG Company. Baggage insurance plan, car rental loss and damage insurance and extended warranty coverage are underwritten by AMEX Assurance Company.
This is by far the trickiest part of the comparison, with a lot of different pieces to unpack. It’s also the section where your own personal preferences are most likely to sway you toward one card versus the other.
Let’s start with the Chase Sapphire Reserve.
It still has an edge over Amex regarding the $300 annual travel credit. Not only is it a higher amount than the up-to-$200 airline fee credit that comes with the Amex Platinum, but it’s also much less restrictive, meaning it will automatically apply to a broad range of travel purchases. You can’t use the $200 Amex airline credit for airfare — only for select fees, such as seat assignments or checked bags — and you can only use it to cover charges from one U.S. carrier that you must designate each year.
When it comes to ride-hailing services, some people see the up-to-$200 annual (U.S.) Uber Cash (broken into $15 a month, with a $20 bonus in December) that comes with the Amex Platinum card as a cash-like credit. However, not everyone uses a ride-hailing service once a month, which means the 10 points per dollar spent on Lyft rides might be a more interesting option.
On the flip side, if you live in a smaller city or never order food delivery, you might find the DoorDash partnership to be entirely useless. The same can be said of the up-to-$100 Amex Platinum Saks Fifth Avenue credit. If you already shop at Saks: great. If not, you may find that this isn’t a real value-add relative to the annual fee, even when using the credit at Saks.com. Amex Centurion Lounge at LaGuardia Airport. (Photo by Zach Griff/The Points Guy)
The Amex Platinum is widely considered the most comprehensive card when it comes to airport lounge access for good reason. Although the Priority Pass Select membership that comes with this card no longer allows you to access participating restaurants (you can with a Chase-issued Priority Pass membership), the access to Amex’s growing collection of Centurion Lounges and Delta Sky Clubs on same-day Delta flights should be enough to make up for that. Another area where Amex excels is by offering Gold elite status with both Marriott and Hilton to Platinum cardholders. Chase offers no equivalent benefit. Enrollment is required for select benefits.
Winner: Amex Platinum is the clear winner when it comes to perks and benefits, which include its $1,400-plus in potential annual statement credits, expanded airport lounge access, new travel protections and elite status with Marriott and Hilton.
Bottom line
The Chase Sapphire Reserve and Amex Platinum are two of the most popular premium rewards cards on the market, but they offer slightly different value propositions.
Between hotel elite status and Centurion Lounge access, the Amex Platinum is better suited for those looking to enjoy a more luxurious travel lifestyle. If you frequently purchase airfare that would qualify for the 5 bonus points per dollar earning rate, this card deserves a spot in your wallet.
The Chase Sapphire Reserve, by comparison, is a premium card that’s simple enough for beginners and pros alike to maximize. The $300 annual travel credit is automatically applied to a wide range of purchases. Plus, your 3 points per dollar earning rate on travel (excluding purchases covered by the $300 travel credit) and dining bonus categories are broad enough that you won’t be scratching your head trying to decide if you’re tapping the right card.
Some people may even find that there’s enough room for both cards in their wallets. If you can take advantage of all the annual statement credits and luxury perks, these cards can actually complement each other well.
Official application link: Amex Platinum.
Official application link: Chase Sapphire Reserve.
For rates and fees of the Amex Platinum, click here.
Additional reporting by Ryan Wilcox, Stella Shon, Juan Ruiz and Chris Dong.
Comments
By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
