Credit Card clash: Amex Platinum & Chase Sapphire Reserve – A Deep Dive for 2024
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NEW YORK, NY – The premium travel credit card landscape is undergoing a shift, with both American Express Platinum and Chase Sapphire Reserve cards recently updating benefits and perks. As travelers increasingly seek maximum value from their spending, deciding between these two powerhouses requires a detailed comparison. Both cards boast hefty annual fees, but offer a suite of benefits designed to offset those costs - and then some - for the right user.
For years, the Amex platinum and Chase Sapphire Reserve have been the gold standard in travel rewards. however,evolving benefits,changing travel patterns,and individual spending habits mean the “best” card is no longer a one-size-fits-all answer. This guide breaks down the key differences to help you determine wich card aligns best with your travel style and financial goals.
Core Benefits & Annual Fees
Both cards carry notable annual fees: the Amex Platinum at $695 and the Chase Sapphire Reserve at $550. However, the value proposition extends far beyond points and miles.
American Express Platinum:
* Welcome Offer: Varies, currently offering 80,000 Membership Rewards points after spending $8,000 in the first 6 months.
* Points Earning: 5x points on flights booked directly with airlines or through Amex Travel (on up to $500,000 on these purchases per calendar year),5x points on prepaid hotels booked on AmexTravel.com, 1x point on everything else.
* Key Benefits:
* $200 Airline Fee Credit (annually)
* $200 Uber Cash (monthly $15, plus $35 in December)
* $150 Saks Fifth Avenue Credit (semi-annually)
* $120 Peloton credit (maximum $10 per month)
* Complimentary Apple TV+ and Apple Music subscriptions
* $120 Lyft credit (maximum $10 per month)
* $60 DoorDash restaurant orders (maximum $5 per month)
* $240 DoorDash non-restaurant orders (maximum $10 per order for up to 2 orders per month)
* $250 credit on bookings at select hotels via the chase Travel portal, starting in 2026
* $500 Southwest Airlines credit after reaching $75,000 in spending
* $250 the Shops at Chase credit after reaching $75,000 in spending
* $500 hotel credit on stays of at least two nights at a hotel included in The Edit collection (maximum of $250 credit per stay)
* $300 travel credit (no points earned)
* $150 OpenTable credit (January-June & July-December)
* $150 StubHub credit (January-June & July-december)
* Access to the Amex Global Lounge Collection (Centurion Lounges, Priority Pass, Delta Sky Clubs when flying Delta)
Chase Sapphire Reserve:
* Welcome Offer: Varies, currently offering 60,000 Ultimate Rewards points after spending $4,000 in the first 3 months.
* Points Earning: 3x points on dining and travel, 1x point on everything else. 8x points on purchases via the Chase Travel portal (excluding credits), 4x points on flights and hotels purchased directly with airlines/hotels (excluding credits), 5x points on Lyft. 10x points on Peloton equipment purchases over $150, up to $5,000.
* Key Benefits:
* $300 Annual Travel Credit
* $100 Hotel Credit towards a booking of two or more nights through the Chase Travel portal.
* Priority Pass Select airport lounge access
* Primary car rental insurance
* Trip cancellation/interruption insurance
* Purchase protection and extended warranty benefits
Point Valuation & Redemption
Both Membership rewards (Amex) and Ultimate Rewards (Chase) are highly valuable points, typically worth around 2 cents per point when redeemed for travel.
* amex Membership Rewards: offers transfer partners including airlines and hotels, providing adaptability.