When it comes to premium travel cards, it doesn’t get more iconic than The Platinum Card® from American Express and the (newly refreshed) Chase Sapphire Reserve®.
Both cards are jam-packed with perks, various statement credits, and serious clout (are people still saying that?). But the differences between them are worth reading about before you commit to one… or both.
Let’s break down how these two cards stack up, what’s new with the Sapphire Reserve, and how to decide which one better fits your goals and spending habits.
Quick Overview
Chase Sapphire Reserve
If you haven’t heard, Chase just gave the Sapphire Reserve a serious glow-up. Along with a fresh design and a higher $795 annual fee, the Sapphire Reserve now comes with over $2,000 in annual credits (yeah, I’m being so for real).
We’re talking upgraded rewards categories, improved travel perks, and a new Points Boost program to match.
Despite the increased fee, this is still one of the most flexible premium cards on the market, especially if you’re deep in the Chase Ultimate Rewards ecosystem.
American Express Platinum
The Amex Platinum has long been the blueprint for premium travel cards. It also has a hefty $695 annual fee (rates and fees), but the perks can be incredibly valuable if you take advantage of them.
Think lounge access, hotel elite status, tons of lifestyle credits, and a pretty sweet pool of transfer partners. It’s ideal if you love the finer things and are willing to put in a little effort to maximize the benefits.
Side-by-Side Comparison
Feature | Sapphire Reserve | Amex Platinum |
|---|---|---|
Annual Fee | $795 | $695 |
Lounge Access | Chase Sapphire Lounges, Priority Pass, Maple Leaf Lounges (when flying Star Alliance) | Centurion Lounges, Priority Pass (no restaurants), Delta Sky Clubs (when flying Delta) |
Point Value (Travel Portal) | 1.5 cents per point (until Oct. 2027) or up to 2 cents with Points Boost on select airlines and hotels | 1 cent per point (via American Express Travel®), often more via partners |
Transfer Partners | 14 partners, including Hyatt, United, and Air Canada | More than 20 partners, including ANA, Air France/KLM, Delta |
Annual Credits | More than $2,000 in credits (StubHub, DoorDash, Apple, dining, and more) | More than $1,500 in credits (Uber, airline fees, Saks, Equinox, Walmart+) |
Earning Rates | Up to 8x on travel booked via Chase, 4x on direct flights and hotels, 3x on dining | 5x on flights and prepaid hotels via Amex Travel, 1x on most other purchases |
Travel Protections | Best-in-class insurance, primary rental car coverage | Solid protections, but slightly more limited than Chase's |
Foreign Transaction Fees | None | None |
In-Depth Rewards Breakdown
8x points on all purchases through Chase TravelSM
5x points on eligible Lyft rides (through 9/30/27)
4x points on flights and hotels booked directly
3x points on dining worldwide
1x points on everything else
5x points on flights booked directly or through American Express Travel® (up to $500,000 per year)
5x points on prepaid hotels booked through Amex Travel, including The Hotel Collection
1x points on everything else, terms and limitations apply
Honestly, Chase wins when it comes to flexibility and ease of use, while American Express leans into nicer experiences and more travel partners.
Key Benefits and Credits
$300 annual travel credit (easy to use and based on membership year)
$500 “The Edit” hotel credit ($250 biannual credits; two-night minimum stay and prepayment required)
$300 DoorDash credit via monthly promos (in the form of $5 monthly credits for restaurant orders, and two $10 promo credits for groceries, retail, and more. Plus, get a complimentary DashPass membership worth $120 annually, activate by 12/31/2027)
$300 dining credit at Sapphire Reserve Tables ($150 biannual credits)
$300 StubHub/Viagogo credit ($150 biannual credits, activation required)
$250 Apple credit annually (for Apple TV+ and Apple Music subscriptions)
$120 Lyft credit (up to $10 per month, plus 5x points on eligible rides through 9/30/27)
$120 Peloton credit per year ($10 per month, plus 10x points on Peloton purchases through 9/30/27)
Global Entry/TSA PreCheck/NEXUS reimbursement (up to $120 every four years)
Complimentary IHG One Rewards Platinum Elite Status (Diamond Elite Status after $75k spend)
Up to $200 airline fee credit
Up to $200 in Uber Cash annually
Up to $200 in prepaid hotel credits
Up to $100 Saks Fifth Avenue credit
Up to $300 Equinox credit
Up to $240 digital entertainment credit (Disney+, Hulu, etc.)
Up to $155 Walmart+ credit
Global Entry/TSA PreCheck/NEXUS reimbursement
Complimentary Marriott Gold and Hilton Gold status
Enrollment may be required for some of these benefits.
Which Card Offers More Value?
If you love lounge access, luxury hotel perks, and can handle multiple monthly credits, the Amex Platinum still delivers in many ways. But it requires some work, and you’ll need to actively enroll in many benefits and stay on top of rotating offers.
The Sapphire Reserve, on the other hand, has gotten way easier to justify with this refresh. The $795 fee now comes with more complimentary statement credits, improved bonus categories, and new Points Boost travel redemptions that can stretch your points further than ever.
If you want a one-stop premium card with easy-to-use benefits and a travel-friendly experience from top to bottom, Chase may have just taken the lead.
💡 Pro Tip: If you already hold a Chase card like the Chase Sapphire Preferred® Card, upgrading to the Sapphire Reserve can unlock even more value by consolidating your points at the now up to 2x redemption level via Points Boost.
Bottom Line
There is really no wrong answer here, just the right card for your situation.
Go with the Sapphire Reserve if you:
Want higher point multipliers on travel and dining
Prefer streamlined perks with fewer complications
Value flexible redemptions and Chase’s pool of transfer partners
Go with the Amex Platinum if you:
Travel often through airports with Centurion Lounges
Want elite status at multiple hotels just for holding the card
Can consistently use the $1,500+ in annual credits
Or better yet? Carry both. 🙂
That way, you can earn 5x on flights with American Express, 3x on dining with Chase, access nearly every lounge in the world, and cherry-pick the best transfer partner depending on your next award redemption. I didn’t say it was a cheap option… but it’s an option nonetheless.
