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When it comes to premium rewards credit cards, the competition in the market is tougher than the Olympics. Every bank under the sun has its own version of a premium card product. The annual fees are high, and so are the stakes—many high-end cards offer enough travel perks to offset the fees.
In this round of head-to-head battles, we’ve got two heavyweight champs: the Chase Sapphire Reserve® and The Platinum Card® from American Express.
Both of these card giants lead the industry by offering a number of travel credits and benefits to serious travelers. So, let’s see how they stack up against each other and how much value you can expect to receive from each card.
Welcome Bonus
Perhaps the first metric anyone looks at when considering a credit card is how many bonus points are awarded after the initial spending requirement. So, here it goes.
The Amex Platinum Card
You will generally earn 80,000 Membership Rewards points with the American Express Platinum Card once you spend $8,000 on purchases in the first three months of card membership. However, the bonus can change over time.
However, we’ve seen the bonus reach as high as 125,000 or even 150,000 points for some folks. Usually, these increased offers are targeted but are sometimes widely available. If you’re targeted for this welcome offer (you can check with the CardMatch tool), don’t even think twice about getting your hands on 150,000 Membership Rewards points.
Chase Sapphire Reserve®
With the Chase Sapphire Reserve®, you will earn 60,000 Chase Ultimate Rewards points after spending $4,000 as a new cardholder. The points are worth $900 when used to book travel via the Chase Travel Portal.
60,000
Chase Ultimate Rewards® Points
after you spend $4,000 in 3 months
Annual Fee: $550
Amex Travel vs. Chase Travel Portal
The Amex Platinum Card
Unfortunately, Membership Rewards redeemed through the Amex Travel portal provide mediocre value unless you also have The Business Platinum Card® from American Express or possibly the American Express® Business Gold Card.
At best, you’ll get a value of 1 cent per point when you book flights or hotels that participate in the Fine Hotels & Resorts program. The value drops to 0.7 cents when you book prepaid hotels, vacation packages, or cruise sailings via the portal.
Check out our guide to using Membership Rewards points in the Amex Travel portal.
Chase Sapphire Reserve®
Ultimate Rewards points earned with the Chase Sapphire Reserve® card are worth 1.5 cents apiece when redeemed through Chase Travel℠ —50% more than points earned with the Amex Platinum Card.
Although the welcome bonus that comes with the Chase Sapphire Reserve® is slightly lower than the bonus on The Platinum Card, it’s worth more in the end.
Check out our guide to using Ultimate Rewards points in the Chase Travel portal.
Transfer Partners
Portal bookings aren’t the only, and certainly not the best, way to redeem flexible points, such as Membership Rewards from American Express and Ultimate Rewards from Chase.
In fact, if you’re looking to fly in business or first class or stay at a chain hotel, transferring points to partner programs can increase their value above 1.5 cents.
The Amex Platinum Card
| Airlines | Transfer Ratio |
|---|---|
| Aer Lingus AerClub | 1,000:1,000 |
| Aeroméxico Club Premier | 1,000:1,600 |
| Air Canada Aeroplan | 1,000:1,000 |
| Air France/KLM Flying Blue | 1,000:1,000 |
| Alitalia MilleMiglia | 1,000:1,000 |
| ANA Mileage Club | 1,000:1,000 |
| Avianca LifeMiles | 1,000:1,000 |
| British Airways Executive Club | 1,000:1,000 |
| Cathay Pacific Asia Miles | 1,000:1,000 |
| Delta SkyMiles | 1,000:1,000 |
| El Al Frequent Flyer Club | 1,000:20 |
| Emirates Skywards | 1,000:1,000 |
| Etihad Guest | 1,000:1,000 |
| Hawaiian Airlines HawaiianMiles | 1,000:1,000 |
| Iberia Plus | 1,000:1,000 |
| JetBlue TrueBlue | 250:200 |
| Qantas Frequent Flyer | 500:500 |
| Singapore Airlines KrisFlyer | 1,000:1,000 |
| Virgin Atlantic Flying Club | 1,000:1,000 |
| Hotels | Transfer Ratio |
|---|---|
| Choice Privileges | 1,000:1,000 |
| Hilton Honors | 1,000:2,000 |
| Marriott Bonvoy | 1,000:1,000 |
The Membership Rewards program presents opportunities to book premium flight experiences for those looking to put in work. Because the partner list contains so many niche programs, it’s not the friendliest for everyone.
Having said that, learning how these loyalty programs work will help you uncover tremendous value.
Many love transferring membership Rewards to ANA Mileage Club for its round-the-world awards and to Virgin Atlantic Flying Club to book ANA first class.
ANA First Class Review IAH to NRT | Photo Credit from Bryce Conway
Yes, sometimes loyalty programs will throw in bonus miles for converting Amex points into airline miles or hotel points, which is a huge benefit to travelers who love stretching their rewards even further. Seeing transfer bonuses of 25% to 40% is common.
Chase Sapphire Reserve®
| Airlines | Transfer Ratio |
|---|---|
| Aer Lingus AerClub | 1,000:1,000 |
| Air France/KLM Flying Blue | 1,000:1,000 |
| British Airways Executive Club | 1,000:1,000 |
| Emirates Skywards | 1,000:1,000 |
| Iberia Plus | 1,000:1,000 |
| JetBlue TrueBlue | 1,000:1,000 |
| Singapore Airlines KrisFlyer | 1,000:1,000 |
| Southwest Airlines Rapid Rewards | 1,000:1,000 |
| United MileagePlus | 1,000:1,000 |
| Hotels | Transfer Ratio |
|---|---|
| IHG Rewards Club | 1,000:1,000 |
| Marriott Bonvoy | 1,000:1,000 |
| World of Hyatt | 1,000:1,000 |
With United MileagePlus, Southwest Rapid Rewards and World of Hyatt programs on the list, Chase offers a more user-friendly experience when it comes to transferring points to partners.
These programs are not only more familiar to a U.S.-based traveler, but they also present lots of value. For example, you can get tons of value out of Rapid Rewards points if you have the Southwest Companion Pass, and the World of Hyatt is considered to be the most lucrative hotel program by many.
Bonus Categories
The Amex Platinum Card
Although you’ll earn a whopping 5X Membership Rewards points on airfare booked directly with airlines or via Amex Travel and prepaid hotels booked via Amex Travel, the list of bonus categories ends here. All other purchases earn 1X point per dollar, and for a card with such a high annual fee, the earning rates could be a lot better.
Chase Sapphire Reserve®
With the Chase Sapphire Reserve®, you’ll earn 3X Ultimate Rewards on travel and dining purchases worldwide.
Chase wins this round with more opportunities to earn bonus rewards, even at a smaller rate. Although 5X on airfare is nice, 3X on all travel and dining covers quite a bit more.
Statement Credits
Both cards come with high annual fees, which is not nothing to most of us, especially in this economy. To attract consumers, both American Express and Chase offer statement credits as incentives to apply and keep the cards long-term.
Here are all the ways you can offset the high price tag of holding either card.
The Amex Platinum Card
- Up to $200 airline fee credit: Select a qualifying airline, charge incidentals to the card, such as checked luggage and seat selection, and receive a credit for up to $200 per calendar year.
- Uber credit: Receive an up to $15 monthly credit (up to $35 in December) toward Uber rides and Uber Eats orders.
- Saks Fifth Avenue credit: Shop at Saks Fifth Avenue stores (physical locations or online) and receive two up to $50 credits per calendar year—one from January through June and the other from July through December.
- $85 TSA Precheck / $100 Global Entry enrollment 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.
Chase Sapphire Reserve®
- $300 travel credit: Cardholders can offset much of the annual fee by making travel purchases on the card and receiving up to $300 back as statement credits.
- $120 DoorDash credit: Receive $60 in 2020 and another $60 in 2021 toward DoorDash orders.
- $85 TSA Precheck / $100 Global Entry enrollment credit: Receive a statement credit once every four years toward a TSA Precheck or a Global Entry enrollment fee.
The Amex Platinum provides access to Centurion Lounges located worldwide | Photo Credit: The Centurion Lounge
Other Card Benefits
The Amex Platinum Card
- Priority Pass Select membership: The Priority Pass membership that comes with the Amex Platinum Card is a nerfed version of the full membership. The pass includes unlimited access for you and up to two guests to any Priority Pass airport lounge. However, it excludes restaurants that are part of the network.
- Access to The Centurion Lounges: Amex Platinum Card members plus up to two guests get complimentary access to The Centurion Lounges when flying any airline.
- Access to Delta Sky Clubs: Enter Delta Sky Clubs for free with a same-day boarding pass issued by Delta Air Lines. Guests are charged $39 for each visit (up to two guests).
- Premium car rental protection: Pay a flat rate of either $19.95 or $24.95 for the duration of the rental agreement and receive theft and damage protection for your rental vehicle.
- Fine Hotels & Resorts: Book a qualifying stay via the Fine Hotels & Resorts program and receive room upgrades (when available), daily breakfast, late checkout and resort credits (varies by property).
- Hilton Honors Gold status
- Marriott Bonvoy Gold Elite status
- Authorized user fee: $195 for each authorized user
- No foreign transaction fees (Rates and fees)
- $695 annual fee
Chase Sapphire Reserve®
- Priority Pass Select membership: Priority Pass membership included with the Chase Sapphire Reserve® card provides access to airport lounges as well as restaurants, where you can get $28 to $32 per person (for up to two people) off your final bill.
- Complimentary DoorDash DashPass subscription: Enjoy unlimited restaurant deliveries, no-cost delivery and reduced service fees with a free DoorDash DashPass membership (normally $9.99 per month, must activate by March 31, 2022).
- Complimentary Lyft Pink membership: Enjoy priority airport pickups and ride discounts with one year of Lyft Pink membership (a $199 value).
- Auto collision damage waiver: Primary coverage kicks in at no extra charge as soon as you pay for your rental car with the Chase Sapphire Reserve® card and decline the car company’s collision insurance.
- Visa Luxury Hotel Collection: Book a room at a property that participates in the Luxury Hotel Collection and get complimentary breakfast, room upgrades (when available), food and beverage credits, and late checkout.
- Authorized user fee: $75 per each authorized user
- No foreign transaction fees
Which Card Is Right for You?
Although most people would balk at paying high card fees, it’s not that unusual for some avid adventurers to hold both. It really comes down to how you’ll utilize the benefits of each card.
Do you value airport lounge access and hotel status? Do you book a lot of paid flights? Do you use Uber? If the answer is yes, then you might find more value in the Amex Platinum.
Do you enjoy opportunities to earn bonus rewards on travel and dining? Are you under 5/24? Have you run into trouble using your American Express card abroad? In this case, the Chase Sapphire Reserve® might be a better fit.
Final Thoughts
There’s a reason both the Amex Platinum Card and the Chase Sapphire Reserve® get compared a lot. They’re in the same weight class when it comes to travel rewards cards, and you must have good credit to qualify for both.
As mentioned above, holding both cards isn’t unheard of for people in this hobby, but you can’t go wrong by choosing either card. Consider it an investment in your future travel.
New to the world of points and miles? The Chase Sapphire Preferred® Card is the best card to start with.
With a bonus of 60,000 bonus points after you spend $4,000 on purchases in the first 3 months of account opening. , 5x points on travel booked through the Chase Travel Portal and 3x points on restaurants, streaming services, and online groceries (excluding Target, Walmart, and wholesale clubs), this card truly cannot be beat for getting started!
after you spend $4,000 in 3 months
after you spend $8,000 on purchases in your first 6 months of Card Membership.
Editors Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
10xTravel is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.
Editors Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
bonus points
after you spend $4,000 on purchases in the first 3 months of account opening.
Chase Ultimate Rewards® Points
after you spend $4,000 in 3 months
Venture Miles
after you spend $4,000 in purchases in the first 3 months.
Membership Rewards® Points
after you spend $6,000 on eligible purchases with your new Card within the first 6 months. Terms apply.
