The American Express Platinum Card® and the Chase Sapphire Reserve® (see rates and fees) are two of the titans of the credit card world. They’ve got great welcome offers, long lists of perks — and hefty annual fees to match.
But both cards can save you thousands a year, if you use them correctly. The question is figuring out which is best for your spending habits and lifestyle.
Here’s a full head-to-head comparison of the Platinum Card® and Chase Sapphire Reserve® — and why the winner might surprise you.
1. American Express Platinum Card®: Best for frequent flyers and high rollers
The Platinum Card® has pretty much the highest annual fee you’ll find on any consumer card: $895 (see rates and fees). That probably makes it a nonstarter for a lot of people.
In exchange, though, the Platinum Card® advertises more than $3,500 a year in perks. Some of the best ones include:
- $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 $209 annual 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 more than 1,550 airport lounges worldwide
- Terms apply; enrollment may be required
You don’t have to use all of the card’s perks, or even get close, to come out ahead. Still, it takes genuine work to save with the Platinum Card®. And if you wouldn’t use some of the card’s more valuable benefits — like the $600 credit at boujee Amex hotels — it’ll be even tougher to get in the black.
Also, the earning rates are solid, but the Platinum Card® is much more focused on perks:
- 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®
- 1X points on other purchases
On the plus side, you can get one of the biggest welcome bonus offers I’ve seen on any card, although your exact mileage will (literally) vary.
Current welcome bonus offer: 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.
2. Chase Sapphire Reserve®: A better option for most travelers
The Platinum Card® gets a lot of headlines, as it should. It’s probably the most valuable travel card out there for frequent flyers.
But if you want a luxury card option that makes it a bit easier to save day-to-day, I’d recommend the Chase Sapphire Reserve® card. For a $795 annual fee, you’ll get:
- $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 card’s $300 annual travel credit is probably my favorite perk across either card. It’s incredibly versatile, applying automatically to the first $300 in travel purchases each year — flights, hotels, Ubers, you name it. That perk effectively drops the annual fee under $500.
I also love getting complimentary subscriptions to Apple TV and Apple Music. I prefer the Chase Sapphire Reserve®’s earning rates, too:
- 8x points on all purchases through Chase Travel℠, including The Edit℠
- 4x points on flights and hotels booked direct
- 3x points on dining worldwide
- 1x points on all other purchases
Getting 3x points on dining means the Chase Sapphire Reserve® is great for everyday spending — not just when you book a big getaway.
Don’t get me wrong: The Platinum Card® is a great option if you’re a true jetsetter. In fact, you can’t do much better.
But for less frequent travelers who still want the perks of a premium credit card, I think the Chase Sapphire Reserve® is a better bet.
Current sign-up bonus: Earn 100,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.