The American Express Platinum Card® has an $895 annual fee (see rates and fees). I don’t know about you, but that’s about $800 more than I’m willing to pay for a single credit card.
Luckily, there’s a great alternative: The Chase Sapphire Preferred® Card (see rates and fees), which costs $95 a year and doesn’t sacrifice strong perks, a valuable welcome bonus, and more.
Here’s why I recommend the Chase Sapphire Preferred over the Platinum Card® for most travelers.
Chase Sapphire Preferred vs. Platinum Card®: A head-to-head look
Here’s how the two cards stack up on the numbers that actually move the needle:
|
Card |
Chase Sapphire Preferred |
Platinum Card® |
|---|---|---|
|
Annual fee |
$95 |
$895 (see rates and fees) |
|
Welcome bonus |
Earn 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. |
Apply and find out if you are eligible for as high as 175,000 Membership Rewards® Points after spending $12,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer. Terms apply. |
|
Top earning rates |
Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, 3x on vacation homes, 3x on gas & EV charging, 3x on top streaming services and 3x online groceries (excluding Walmart, Target, and wholesale clubs), 2x on all other travel purchases, 1x on all other purchases |
Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel® up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel®. 1X Membership Rewards® Points on other purchases. Terms apply. |
|
Notable perks |
$100 Chase Travel hotel credit, complimentary year of Apple TV+, up to $120 TSA PreCheck/Global Entry/NEXUS credit every 4 years |
Up to $600 hotel credit (THC requires a minimum two-night stay), $400 Resy dining credit, $300 digital entertainment credit, $200 airline fee credit, $200 Uber Cash. Terms apply; enrollment may be required. |
|
Lounge access |
None |
Access to 1,550+ lounges worldwide. Terms apply; enrollment may be required. |
Data source: Card issuer websites.
As you can see, the Chase Sapphire Preferred’s much more focused on earning rates and affordability, while the Platinum Card® thrives on luxury perks and a massive welcome bonus offer.
Why Chase Sapphire Preferred wins for beginner travelers
The Platinum Card® advertises more than $3,500 in “potential” annual value — but you’ll only get close to that number if you use, literally, dozens of credits. Those include brands like Resy, Uber, CLEAR+, Walmart+, a number of streaming services, and more (terms apply; enrollment may be required). Forget to use them, and you could be missing out on hundreds of dollars a year on a card that carries an $895 annual fee (see rates and fees).
The recently updated Chase Sapphire Preferred keeps things much simpler. One hotel stay booked through Chase Travel wipes out the entire $95 fee with its $100 annual credit. Everything else — the 3X points on gas & EV charging, for example — is pure upside.
Only 19% of Americans carry a credit card with an annual fee as their primary card, according to Motley Fool Money research. That suggests most people are wary of paying for a card at all — let alone one that costs $895 a year to keep in a wallet. If that’s you, go with the Chase Sapphire Preferred.
The Platinum Card® has an edge for frequent flyers
If you fly regularly, the Platinum Card®’s lounge access and luxury perks might be worth it for you. Also, the welcome bonus offer is one of the biggest you’ll find on any card — which, given its annual fee, is as it should be.
The Platinum Card® makes sense specifically for someone who travels several times a month, values lounge access over everyday rewards, and can actually use hundreds of dollars of luxury perks. It’s not for everyone, but members of the jet-set can easily justify holding onto the Platinum Card®.
Chase Sapphire Preferred vs. Platinum Card®: Which card makes sense for you?
For the vast majority of travelers — people who take a handful of trips a year, want flexible rewards, and don’t want to manage a dozen credits — the Chase Sapphire Preferred delivers nearly all the practical value at about a tenth of the cost. It’s the card I recommend to almost every beginner traveler who asks.
The Platinum Card®, meanwhile, has a narrower user base — but can still be plenty valuable. If you want to learn more or compare other options, I recommend checking out our list of the best travel cards available to get started.