Chase Sapphire Reserve® vs. The Platinum Card® from American Express

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Welcome Bonus

Chase Sapphire Reserve®: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Ultimate Rewards®. That's because the Sapphire Reserve offers 50% more value for your points when you use them to book travel through Chase.

The Platinum Card® from American Express: Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership. According to American Express's rewards calculator, these points are worth somewhere between $560 and $800, depending on how you redeem them.

You may get even more value out of either card if you transfer the points to a travel partner like an airline or a hotel. However, purely on the basis of each credit card's evaluation of its own bonus, we give Chase the win here.

Cash Back Rewards

Chase Sapphire Reserve® offers a $300 travel credit for travel purchases made to your card each year. You also earn 10x on hotels and car rentals purchased through Chase, 5x on flights, 3x on other travel purchases, and 1x on everything else. You can get a DoorDash DashPass subscription, Instacart benefits, and a $10 monthly statement from GoPuff. You can also earn 10x on Lyft rides through December 31, 2024.

The travel credit is automatically applied to your account when you make $300 in purchases in the travel category. Travel is a pretty broad category, according to Chase, and includes airlines, hotels, motels, campgrounds, timeshares, car rental agencies, train fares, bus travel, ferries, tolls, and parking.

Most of the value in the The Platinum Card® from American Express comes from the credits. Other than that, you'll get 5x membership reward points on flights and hotels booked directly with American Express Travel. You also get (in no particular order):

• $200 cash back in statement credits each year on Fine Hotels + Resorts® or The Hotel Collection booking, with at least a two-night stay
• $240 digital entertainment credit, up to $20 a month, with purchases of digital entertainment, including Disney Bundle, Audible, ESPN+, Hulu, Peacock, Sirius XM, and The New York Times
• $155 Walmart+ credit
• $200 airline fee credit
• $200 in Uber cash (includes Uber Eats), up to $15 a month
• $300 for Equinox digital fitness app, or Equinox club membership
• $189 back for a CLEAR membership
• $100 Saks Fifth Avenue credit (up to $50 twice a year)

These are great benefits–if you use them. Most people have streaming subscriptions, and if you travel through airports, the airline fee credit is a nice benefit.

Some cardholders report that the Chase travel credit is more flexible and easier to redeem. Also, while the Chase Priority Pass airport lounges are not as luxurious as the Amex Centurion or Escape lounges, there are a lot more of them. This comes down to how you spend money and which benefits you'll use. This is a tie.

Here are the details of each card.

Chase Sapphire Reserve®

Rewards:

The Platinum Card® from American Express

Rewards:  

Rates and Fees

Neither card has a 0% introductory offer. Neither has any foreign transaction fees, which makes sense because both are premium travel cards.

The Chase Sapphire Reserve® has an annual fee of $550, plus $75 for each additional user. The Platinum Card® from American Express has an annual fee of $695, plus $175 for each additional user.

Since Chase Sapphire Reserve® is $145 less, plus the cost of any additional users is also significantly less, Chase scores the win.

Who the Chase Sapphire Reserve® is Best For

Chase Sapphire Reserve® can help you rack up points, which can be transferred to Chase's travel partners for free flights and hotel stays, or you could redeem them through Chase Ultimate Rewards® for 50% more value, which is a lucrative way to spend points. And those welcome bonus points are worth about $900 in travel, which more than covers the annual fee, at least for the first year.

Another advantage of this card is that the car rental insurance is primary insurance. That means when you use the card to pay for your rental and decline the collision damage waiver from the car rental company, the card can cover damages to your rental vehicle. Most credit card companies offer secondary car rental insurance, which only kicks in when the other driver's insurance is exhausted or nonexistent. You may not have to file a claim with your insurance company if your card offers primary rental insurance. However, if you or someone else is injured, that's still on you–it doesn't cover liability.

Who the The Platinum Card® from American Express is Best For

Obviously, the The Platinum Card® from American Express is an expensive card. But if you want to put in some effort, you can make the cost worth your while. And you do get access to Centurion or Escape lounges, which can make travel much more comfortable. Keep in mind if you want to bring a companion, they will have to be either an authorized user or pay a fee ($50 each).

Some cardmembers report that American Express has great customer service and that if you're ever without access to cash or credit cards in some other country, Amex can overnight you a card and provide other services as well. American Express also offers cell phone protection, up to $800 a year. If you travel at least a few times a year and can make use of a few of the benefits and credits, American Express is a great card.

But if you want solid travel benefits for less money, you may also consider the Capital One Venture X Rewards Credit Card.

Does It Make Sense to Get Both Cards?

It might. Some Reddit users report having both cards because American Express has better luxury travel benefits and customer service, and Chase offers more flexible benefits that are easier to use. Keep in mind both cards will cost you over $1200, so make sure you'll get value from both cards.

Approval Odds

The credit score data listed below comes from publicly available information in several forums. The accuracy of the information cannot be verified. Keep in mind that credit card issuers consider more than an applicant’s credit score and that underwriting standards change over time.

Chase Sapphire Reserve®

The Platinum Card® from American Express

Although it's primarily a luxury travel credit card, according to the data above, the Amex card may be willing to approve lower credit scores than the Chase card. Another thing to keep in mind is Chase's 5/24 rule, which means Chase likely won't approve you if you've opened five or more credit cards in the past 24 months. If you're close, you should probably apply for the Chase card first. If your credit scores are on the average side, you may consider the American Express card.