Introduction
Note: Amex is rumored to be planning to add benefits with a higher fee for its Platinum card in respose to Chase’s Sapphire revamped Reserve card. But it appears this will not be soon. (see end of column).
Since reviewing the new Chase Sapphire Reserve card a few weeks ago, let’s compare it to the Amex Platinum card, the other premium credit card, and see which is a better. I looked at sites like The Point Guy and Nerd Wallet and found some useful information, but not much of an analysis based on which perks are likely to be used. Of course, which card you choose depends on which benefits you will use, which airlines you prefer, how easy it is to access all of the perks, and how hard you want to work to capture them.
I found that either cards comes close to justifying its yearly cost, if you make an effort to use about 80% of the major benefits, while ignoring those you have little interest in. It’s unlikely either card will return the value that they advertise – about twice their cost.
Different perks adding up to a similar value
Below is a detailed comparison with tables and lists containing everything you need to know, followed by an analysis of which is better, based on how likely a perk might be used.
Easy choice?
If you have one card now and are considering the other, then your decision might hinge less on their benefits and more on the welcome bonus you can get from taking out a new card. Currently Chase is offering 100,000 points plus a $500 bonus and Amex is offering up to 175,000 points.
Comparing the differences:
1. Annual Fees:
- Chase Sapphire Reserve (CSR): The new annual fee is $795. A 2nd card is $175.
- Amex Platinum: The annual fee is $695. A 2nd card is $175.
Not enough difference to matter
2. Earning Rates:
- Chase Sapphire Reserve:
- 8x points on all purchases through Chase Travel (flights, hotels, rental cars, cruises, activities, and tours).
- 5x points on eligible Lyft rides (through 9/30/27).
- 4x points on flights and hotels booked directly with the airline or hotel.
- 3x points on dining worldwide.
- 1x point on all other purchases.
- Amex Platinum:
- 5x points on flights booked directly with airlines or through AmexTravel.com (up to $500,000 per calendar year).5x points on prepaid hotels booked through AmexTravel.com.1x point on all other purchases.
Sapphire is better here with the many additional points multipliers on 3rd party purchases
3. Travel Credits & Lifestyle Benefits:
Chase Sapphire Reserve (CSR): Focuses on more straightforward, flexible travel and dining credits, with some new lifestyle additions.
- $300 Annual Travel Credit: This is one of the most flexible travel credits available. It automatically applies to a wide range of travel purchases (airlines, hotels, car rentals, cruises, taxis, tolls, etc.), and no activation is required.Note that purchases covered by this credit do not earn points.
- Points Boost Program: Increases the value of your points on premium air cabin tickets and select hotels, including “The Edit by Chase Travel,” up to 2x (for points earned after Oct 26, 2025). Points earned before this date by specific cardholders may still be redeemable at 1.5x until Oct 26, 2027.
- The Edit by Chase Travel Credit: Up to $500 annually ($250 biannually) for prepaid bookings with “The Edit,” a collection of hotels and resorts. Also includes a $100 property credit, daily breakfast for two, room upgrades (if available), early check-in/late check-out, and complimentary Wi-Fi.
- Sapphire Reserve Exclusive Tables Dining Credit: Up to $300 annually ($150 biannually) at select restaurants booked through OpenTable that are part of this program.
- StubHub/Viagogo Credit: Up to $300 annually ($150 biannually) for ticket purchases. (Through 12/31/27)
- Apple TV+ and Apple Music Subscriptions: Complimentary subscriptions through June 22, 2027 (annual value of $250).
- DoorDash Benefits: Up to $300 annually in monthly DoorDash promos ($5 for restaurant orders, two $10 for groceries/retail) and a complimentary DashPass membership (worth $120 annually, activate by 12/31/27).
- Lyft Credits: Up to $120 annually ($10 monthly in-app credits) through 9/30/27, in addition to 5x points on Lyft rides.
- Peloton Credits: Up to $120 annually ($10 monthly statement credits) on eligible Peloton memberships through 12/31/27, plus 10x points on eligible Peloton equipment and accessory purchases over $150.
- Global Entry/TSA PreCheck/Nexus Credit: Up to $120 statement credit every four years for the application fee.
- Luxury Hotel & Resort Collection: Benefits like daily breakfast, room upgrades (when available), and special amenities at participating properties.
Amex Platinum: Known for its extensive list of statement credits, which require more effort to maximize.
- $200 Airline Fee Credit: Annually, for incidental fees (checked bags, in-flight refreshments) with one selected airline. Enrollment required.
- $200 Hotel Credit: Annually, on prepaid Fine Hotels + Resorts or The Hotel Collection bookings through Amex Travel (Hotel Collection requires a two-night minimum stay).
- $200 Uber Cash: Up to $15 per month, plus a $20 bonus in December, for Uber rides or Uber Eats in the U.S.
- $240 Digital Entertainment Credit: Up to $20 per month for eligible purchases with partners like Disney+, Hulu, ESPN+, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
- $155 Walmart+ Monthly Membership Credit: Covers the cost of a monthly Walmart+ membership.
- $199 CLEAR Plus Credit: Covers the cost of a CLEAR Plus membership annually.
- $100 Saks Fifth Avenue Credit: Up to $50 semi-annually (Jan-June and July-Dec). Enrollment required.
- Global Entry/TSA PreCheck Credit: Up to $100 for Global Entry or up to $85 for TSA PreCheck every 4-5 years.
- Fine Hotels + Resorts Program: Exclusive benefits at participating luxury hotels, including room upgrades, daily breakfast for two, early check-in/late check-out, and a unique property amenity (often a $100 food/beverage or spa credit).
- The Hotel Collection: A collection of hotels offering a $100 hotel credit and a room upgrade (if available) with a minimum two-night stay.
Among the most useful, easy to use, and valuable perks, Sapphire has a $300 vs Amex’ $200 travel credit, a dining credit of $300, and a hotel credit of $500. Amex has the $155 Walmart membership credit, a good alternative to Amazon, and a free membership in Clear, worth $200 annually. Both offer about $240 in streaming services, and compensation for Global Entry.
4. Lounge Access:
- Chase Sapphire Reserve:
- Chase Sapphire Lounges by The Club: Access to this growing network of premium lounges.
- Priority Pass Select Membership: Access to over 1,300 lounges worldwide, plus two guests per visit.
- Maple Leaf Lounges: Access to select Air Canada Maple Leaf Lounges and Air Canada Cafés when flying Star Alliance.
- Amex Platinum:
- American Express Global Lounge Collection: Considered the most extensive airport lounge access program. Includes:
- Centurion Lounges: Amex’s own exclusive lounges, known for premium food and drink. Guest access requires $75,000 in eligible purchases in a calendar year.
- Delta Sky Club: Access when flying Delta (limited visits per year starting Feb 1, 2025, or unlimited with $75,000+ spend).
- Priority Pass Select Membership: Access to over 1,300 lounges worldwide.
- Plaza Premium Lounges.
- Escape Lounges – The Centurion Studio Partner.
- Lufthansa Lounges: When flying Lufthansa.
- American Express Global Lounge Collection: Considered the most extensive airport lounge access program. Includes:
Amex has better lounge access
5. Travel Protections:
- Chase Sapphire Reserve: Generally considered to have some of the strongest travel protections.
- Primary Rental Car Insurance: Covers theft and collision damage for rental cars.
- Trip Cancellation/Interruption Insurance: Up to $20,000 per trip.
- Trip Delay Reimbursement: Up to $500 per ticket for delays over 6 hours or requiring an overnight stay.
- Baggage Delay Insurance: Up to $100 per day for 5 days for delays over 6 hours.
- Lost Luggage Reimbursement: Up to $3,000 per passenger.
- Emergency Medical & Dental Benefit: Up to $2,500 for medical expenses when traveling 100+ miles from home.
- Amex Platinum: Offers good travel protections, but generally secondary for rental car insurance.
- Secondary Car Rental Loss and Damage Insurance.
- Baggage Insurance Plan.
- Trip Cancellation and Interruption Insurance.
- Trip Delay Insurance.
- Premium Global Assist Hotline.
Sapphire offers better travel protection
6. Hotel Elite Status:
- Chase Sapphire Reserve: Does not offer complimentary hotel elite status upfront. However, cardholders who spend over $75,000 per year can unlock IHG Diamond Elite status and Southwest A-List status.
- Amex Platinum:
- Hilton Honors Gold Status (upon enrollment).
- Marriott Bonvoy Gold Elite Status (upon enrollment).
Advantage Amex
7. Point Redemption Value & Transfer Partners:
- Chase Sapphire Reserve: Earns Chase Ultimate Rewards points.
- Points are generally worth 1.5 cents each when redeemed for travel through the Chase Travel portal (for existing cardholders prior to 6/23/25, until 10/26/27, otherwise 1 cent per point for direct travel redemption for new cardholders).
- The new Points Boost program can increase this to up to 2 cents per point on select travel.
- Points can be transferred 1:1 to a variety of airline and hotel partners, including United, Southwest, Hyatt, Marriott, and more. This is often where the most value can be found.
- Amex Platinum: Earns American Express Membership Rewards points.
- Point value varies widely depending on redemption. Direct redemption for travel is often lower (e.g., 1 cent per point for flights, 0.7 cents per point for hotels).
- Points can be transferred 1:1 to a large network of airline and hotel partners, including Delta, Emirates, British Airways, Hilton, Marriott, and more. This is typically the best way to maximize Amex points.
Sapphire partner airlines: Aer Lingus AerClub, Air Canada Aeroplan (Star Alliance), British Airways Executive Club (Oneworld), Emirates Skywards, Flying Blue (Air France-KLM, SkyTeam), Iberia Plus (Oneworld), JetBlue TrueBlue, Singapore Airlines KrisFlyer (Star Alliance), Southwest Rapid Rewards, United MileagePlus (Star Alliance), Virgin Atlantic Flying Club
Amex partner airlines: Aer Lingus AerClub, Air Canada Aeroplan (Star Alliance), Air France / KLM (Flying Blue) (SkyTeam), All Nippon Airways (ANA) (Star Alliance), Avianca LifeMiles (Star Alliance), British Airways Executive Club (Oneworld), Cathay Pacific Asia Miles (Oneworld), Delta SkyMiles (SkyTeam), Emirates Skywards, Etihad Guest, Hawaiian Airlines, Iberia Plus (Oneworld), Qantas Frequent Flyer (Oneworld), Qatar Airways Privilege Club (Oneworld), Singapore Airlines KrisFlyer (Star Alliance), Virgin Atlantic Flying Club, JetBlue TrueBlue (about 0.8:1 transfer points), AeroMexico (1.6:1)
Amex has more airlines. Better for Delta flyers, not as good for United flyers
Which Card is better? It depends on your needs.
Go with the Chase Sapphire Reserve if you:
- Prioritize straightforward and flexible travel credits: The $300 annual travel credit is easy to use and covers a broad range of travel expenses.
- Spend heavily on dining and general travel: The 3x on dining and 4x on direct flights/hotels are strong earning categories.
- Value comprehensive travel insurance: The primary rental car insurance and robust trip protections are a significant advantage.
- Prefer the Chase Ultimate Rewards ecosystem: Especially if you have other Chase cards (like Ink, Freedom Flex or Freedom Unlimited) and want to pool your points for higher value redemptions.
- Appreciate these more focused benefits: Apple TV+/Music, DoorDash, StubHub, and Peloton credits can add significant value if you use these services.
- United is your preferred airline.
Go with The Amex Platinum Card if you:
- Can maximize a multitude of statement credits: The Amex Platinum offers substantial value through various credits, but they require active enrollment and strategic use.
- Prioritize a wider array of premium airport lounge access: The Global Lounge Collection, especially Centurion Lounges, offers a truly luxurious experience, though some guest policies are changing.
- Value complimentary hotel elite status: Hilton Honors Gold and Marriott Bonvoy Gold can provide valuable perks during hotel stays.
- Spend heavily on flights booked directly with airlines or through Amex Travel: The 5x earning rate on these categories is excellent.
- Leverage Amex’s transfer partners for aspirational travel: Amex has a strong lineup of airline transfer partners for premium cabin redemptions.
- Delta is your preferred airline
Here’s a detailed comparison of the Chase Sapphire Reserve and The Amex Platinum Card in a table format, incorporating the latest known benefits for 2025:
Chase Sapphire Reserve vs. The Amex Platinum Card: 2025 Comparison
| Feature | Chase Sapphire Reserve | The Amex Platinum Card |
| Annual Fee | $795 | $695 |
| Authorized User Fee | $195 | $195 |
| Earning Rates | – 8x points on all purchases through Chase Travel (flights, hotels, rental cars, cruises, activities, and tours) | – 5x points on flights booked directly with airlines or through AmexTravel.com (up to $500,000 per calendar year) |
| – 5x points on eligible Lyft rides (through 9/30/27) | – 5x points on prepaid hotels booked through AmexTravel.com | |
| – 4x points on flights and hotels booked directly with the airline or hotel | – 1x point on all other purchases (Note: Amex’s 5x on dining capped at $50,000 in eligible purchases per year starting Jan 1, 2025, then 1x) | |
| – 3x points on dining worldwide | ||
| – 1x point on all other purchases | ||
| Annual Credits | – $300 Annual Travel Credit (flexible, automatic reimbursement for travel purchases) | – $200 Airline Fee Credit (for incidental fees with selected airline, enrollment required) |
| – $500 The Edit by Chase Travel Credit(biannual $250 credits for curated hotels, includes $100 property credit, breakfast, etc.) | – $200 Hotel Credit (for prepaid Fine Hotels + Resorts or The Hotel Collection bookings through Amex Travel) | |
| – $300 Sapphire Reserve Exclusive Tables Dining Credit (biannual $150 credits via OpenTable) | – $200 Uber Cash ($15/month + $20 bonus in Dec) | |
| – $300 StubHub/Viagogo Credit (biannual $150 credits through 12/31/27) | – $240 Digital Entertainment Credit ($20/month for eligible partners, enrollment required) | |
| – $250 Apple TV+ & Apple Music Subscriptions (complimentary through 6/22/27) | – $155 Walmart+ Monthly Membership Credit | |
| – $300 DoorDash Benefits (monthly promos + DashPass membership through 12/31/27) –only valuable if you use for grocery delivery | – $199 CLEAR Plus Credit | |
| – $120 Lyft Credits ($10 monthly in-app credits through 9/30/27) -only valuable if you use frequently; $10 towards 5% discount | – $100 Saks Fifth Avenue Credit ($50 semi-annually, enrollment required) | |
| – $120 Peloton Credits ($10 monthly statement credits through 12/31/27 + 10x points on equipment over $150) | ||
| Global Entry/TSA PreCheck/Nexus Credit | Up to $120 statement credit every four years (for application fee) | Up to $100 for Global Entry or $85 for TSA PreCheck every 4-5 years |
| Lounge Access | – Chase Sapphire Lounges by The Club(access + 2 guests) | – American Express Global Lounge Collection(Centurion Lounges, Delta Sky Club [with limitations], Priority Pass Select, Plaza Premium, Escape Lounges, Lufthansa Lounges) |
| – Priority Pass Select Membership (access to 1,300+ lounges + 2 guests) | ||
| – Maple Leaf Lounges (select Air Canada lounges when flying Star Alliance) | ||
| Hotel Elite Status | – IHG Platinum Elite Status(complimentary through 12/31/27) | – Hilton Honors Gold Status (upon enrollment) |
| – IHG Diamond Elite Status (unlocked with $75,000 spend annually) | – Marriott Bonvoy Gold Elite Status (upon enrollment) | |
| Additional Spend-Based Benefits (CSR) | – Southwest A-List Status + $500 Southwest Credit (with $75,000 spend annually) | N/A |
| – $250 The Shops at Chase Credit (with $75,000 spend annually) | N/A | |
| Travel Protections | – Primary Rental Car Insurance | – Secondary Car Rental Loss and Damage Insurance |
| – Trip Cancellation/Interruption Insurance(up to $20,000 per trip) | – Trip Cancellation and Interruption Insurance | |
| – Trip Delay Reimbursement (over 6 hours or overnight stay, up to $500) | – Trip Delay Insurance | |
| – Baggage Delay Insurance (over 6 hours, up to $100/day for 5 days) | – Baggage Insurance Plan | |
| – Lost Luggage Reimbursement (up to $3,000 per passenger) | – Premium Global Assist Hotline | |
| – Emergency Medical & Dental Benefit (up to $2,500) | ||
| Point Redemption Value | – Points Boost Program: Up to 2 cents per point on select flights and hotels booked via Chase Travel (for points earned after 10/26/25). | – Varies; generally 1 cent per point for flights, 0.7 cents per point for hotels via Amex Travel. |
| – For existing cardholders who applied before 6/23/25, points earned before 10/26/25 are redeemable at 1.5 cents per point for travel until 10/26/27. | ||
| Transfer Partners | 1:1 transfer to a variety of airline and hotel partners (e.g., United, Southwest, Hyatt, Marriott) | 1:1 transfer to a large network of airline and hotel partners (e.g., Delta, Emirates, British Airways, Hilton, Marriott) |
| Foreign Transaction Fees | None | None |
A look at the benefits that most likely will be used:
In this comparison, the Sapphire Reserve offers about 20% more in useful value than Amex. Both offer enough value to more than cover the cost of the card plus a second card IF you make a concerted effort to monitor your use.
For those that use the card without signing up for some of the services you don’t use now, you might not get back quite the entire value of the card. Whichever card you do get, I recommend copying the summary of the benefits and keeping it in your notes app on your phone, so you can easily refer to it through the year.
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Amex’s plan for upgrading its card from Business Insider:
Few details have come out about the coming updated American ExpressPlatinum Card — including how much it will cost, as the world of premium credit cards gets ever glitzier.
The company’s CEO and chief financial officer were asked about card fee growth on a second-quarter earnings call on July 18.
“Given the previous conversations that we had about the timing of the platinum fee increase, it’s only sometime in the new year, in 2026, that you should see that inflection point and a bit more acceleration,” CFO Christophe Le Caillec said on the call. He added that card fee growth rates will likely “moderate” within the balance of this year. A representative for American Express declined to comment.
Currently, the Amex Platinum Card has an annual fee of $695, which is less than the $795 yearly fee for the Chase Sapphire Reserve credit card. Amex promised an update on the Platinum card later this year and said more details would come in the fall. Some have speculated that the fee on the revamped Platinum card could reach $1,000.
“Anybody who thinks that we’re refreshing the product in response to what our competitors are doing is crazy,” CEO Stephen Squeri said on the call. “We have our own schedule.”
Current cardholders get a range of perks, including access to certain airport lounges and other travel credits. As those lounges continue to boom in popularity, Amex executives were also asked about overcrowding concerns and competition from airlines and other credit cards.
“We’re trying to make the lounges bigger,” Squeri said on the call. “I think this whole lounge game has been a boom for airport authorities in terms of how many lounges they can put in.” He mentioned a new, smaller “sidecar” lounge in Las Vegas, where cardholders can pop in for a quick drink, and said Amex works closely with its partner Delta to try and deal with the crowds.
