Trying to choose between the Chase Sapphire Reserve® (see rates and fees) and American Express Platinum Card®? If so, you’ve got a pretty big decision to make. Both cards have huge bonuses and a long list of perks, with high annual fees to match.
Personally, I give a slight edge to the Chase Sapphire Reserve® — it costs $100 less per year, and its $300 travel credit is one of the more versatile perks you’ll find. The Platinum Card® can definitely come out ahead, but only if you’ll actually use its merchant-specific credits.
Here’s what to know, and how these cards compare in a few key categories.
Platinum Card® vs. Chase Sapphire Reserve® perks: The Chase card is more versatile
First things first — the Platinum Card® comes with an $895 annual fee (see rates and fees), while the Chase Sapphire Reserve® charges $795 a year. That immediately gives the Chase Sapphire Reserve® a boost in my eyes.
The Chase Sapphire Reserve® also comes with versatile benefits like:
- $500 for bookings at “The Edit” hotel collection ($250 twice a year)
- A $300 annual travel credit
- Complimentary Apple TV plus Apple Music, worth up to $288 annually
- Up to $120 every four years to cover the cost of a Global Entry or TSA PreCheck application fee
- $120 in Lyft credits
- Access to more than 1,300 airport lounges worldwide
The $300 travel credit posts automatically on nearly any travel purchase, effectively dropping the annual fee to $495 before you touch another perk.
The Platinum Card®, meanwhile, comes with benefits like:
- $600 in annual hotel credits for prepaid bookings through Amex Travel at Fine Hotels + Resorts or The Hotel Collection (THC requires a min. two-night stay)
- $300 in annual digital entertainment credits
- A $219 CLEAR+ credit
- $200 a year in airline fee credits
- $200 in annual Uber Cash
- $155 in annual Walmart+ statement credits
- $120 in annual Uber One credits
- Access to over 1,550 airport lounges
- Terms apply; enrollment may be required
For my money, the Chase Sapphire Reserve® wins out here — it’s a bit less expensive, and perks like the $300 travel credit make it an easier sell for the average person.
Platinum Card® vs. Chase Sapphire Reserve® welcome offer: Amex wins out
One area where the Platinum Card® can definitely win out: the welcome bonus offer.
Platinum Card®: 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.
Assuming a $0.01 per point value (by Motley Fool Money estimations), that’s a welcome bonus offer that can be worth $1,750+ in travel rewards — and even if you qualify for a lower welcome bonus offer, you’re probably still looking at a pretty big points haul.
Chase Sapphire Reserve®: Earn 100,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
That’s probably a lower value than the Platinum Card®’s welcome bonus offer, although the spend requirement and time to earn it are both lower, too.
If you want to land a big welcome bonus offer and can use the card’s more niche perks, the Platinum Card® is probably the way to go here.
Platinum Card® vs. Chase Sapphire Reserve®: Which should you get?
Just 19% of Americans carry a primary credit card with an annual fee, according to Motley Fool Money research on Federal Reserve data, though that number climbs to 30% among people earning $150,000 or more. In short, they reward big spenders — but you probably still don’t want to own both.
One final thing worth weighing: The Chase Sapphire Reserve® is a more versatile earner than the Platinum Card®. It earns 8x points on all purchases through Chase Travel℠, including The Edit℠, 4x points on flights and hotels booked direct, 3x points on dining worldwide, and 1x points on all other purchases.
The Platinum Card®, meanwhile, earns 5X points on flights booked directly with airlines or with American Express Travel® up to $500,000 on these purchases per calendar year, 5X points on prepaid hotels booked with American Express Travel®, and just 1X points on other purchases. If you spend a lot on dining and/or travel outside of your issuer portal, the Chase Sapphire Reserve® wins here.
Here’s how I see it:
- Get the Chase Sapphire Reserve® if you want a luxury card with versatile perks that offers strong earning rates on both travel and dining.
- Get the Platinum Card® if you want a huge welcome bonus offer, more niche perks, and are willing to pay a slightly higher annual fee.
And if you want to compare even more options, check out our full list of the best travel cards available now and find the one that’s right for you.