The Platinum Card^® from American Express vs. Chase Sapphire Preferred^® Card: Deciding Between Luxury and Practicality

Travel credit cards can help you offset the cost of your adventures, but to get the best possible value from your card, you need to choose one that makes sense for your wallet. The best rewards credit card for you will align with how you spend money and offer benefits that are important to you. Here’s how the Chase Sapphire Preferred and Amex Platinum stack up.

Chase Sapphire Preferred vs. Amex Platinum

	Chase Sapphire Preferred	Amex Platinum
Star ratings	4.9 FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.	5.0 FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.
FinanceBuzz value calculation	Year one earnings: $1,786 Year two earnings: $789	Year one earnings: $2,280 Year two earnings: $1,480
Annual fee	$95	$695 (Terms apply)
Welcome bonus	Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening (that's worth $750 when redeemed through Chase Travel). Plus, get up to $300 in statement credits on Chase Travel purchases within your first year	Earn 80,000 Membership Rewards points after spending $8,000 on eligible purchases on your new card in the first 6 months
Redemption methods	Chase Ultimate Rewards points can be redeemed for travel, gift cards, experiences, or a statement credit. It’s also possible to transfer to partner hotel and airline programs at a 1:1 rate. There is a 25% redemption bonus on travel booked through Chase Travel.	Amex Membership Rewards points can be redeemed for statement credits, travel, gift cards, and purchases through the American Express portal. Rewards can also be transferred at a 1:1 ratio to a variety of airline and hotel programs.
Statement credits	Up to $50 in statement credits for hotel stays booked through Chase Travel℠ An annual points bonus worth 10% of your previous year's total card spend DoorDash DashPass membership (activate by 01/31/2025)	Up to $200 hotel credit through Amex Travel Up to $155 Walmart+ credit Up to $200 Uber Cash each year (terms apply) Up to $240 annual digital entertainment credit Up to $300 annually in statement credits for an Equinox digital or club membership Up to $200 annual airline fee credit Up to $199 annual CLEAR Plus credit Up to $100 Saks Fifth Avenue credit each year Up to $120 Global Entry every four years or up to $85 for TSA PreCheck every 4.5 years Select benefits require enrollment
Travel perks	Auto rental collision damage waiver Trip cancellation/interruption insurance Baggage delay insurance Trip delay reimbursement	Access to American Express Global Lounge Collection Marriott Bonvoy Gold Elite Status Hilton Honors Gold status Car rental privileges with Avis, Hertz, and National Car rental loss and damage insurance 1 Trip cancellation/interruption insurance2 Trip delay insurance3
Foreign transaction fee	None	None
Credit needed	Excellent, Good	Excellent, Good
	Learn more	Learn more

When to go with the Chase Sapphire Preferred

You might be better off with the Chase Sapphire Preferred if:

• You prefer a low annual fee
• You can maximize the bonus earning categories
• You are looking for comprehensive travel protections

Annual fee

The difference in annual fees between these two cards couldn’t be more significant. The Chase Sapphire Preferred charges an annual fee of $95, which you can help offset with up to $50 in annual hotel credits. Even without the hotel credit, this low annual fee is easily justifiable for most travelers.

The annual fee for the Amex Platinum is $695 and is one of the highest of any available card on the market today. Cardholders can receive a variety of perks and benefits that reduce the net cost, but not every Amex Platinum cardholder will use all of the annual credits. However, there is significant value to be had if you do—over $1,500, according to Amex.

Bonus points on purchases

Although the Amex Platinum is a premium credit card, the earning potential is limited for the average traveler. It earns 5X points per dollar on flights booked directly with airlines or on Amextravel.com (on up to $500,000 per calendar year, after that 1X) and prepaid hotels booked on Amextravel.com. All other eligible purchases earn 1X point per dollar. Unless you spend a significant amount of money on flights and hotels, you won’t be able to earn much with this card.

If you’re looking to maximize the amount you earn per purchase, the Sapphire Preferred is the much better option. Cardholders earn 5X points per dollar on travel purchased through Chase Travel℠ (outside of the annual $50 hotel credit), 3X points per dollar on dining, select streaming services, and online groceries, 2X points on other travel purchases, and 1X point per dollar on all other purchases. I’m a cardholder of the Sapphire Preferred, and it’s one of my go-to cards when traveling because of its earning potential and the utility of Ultimate Rewards Points.

Travel protections

For a card with such a low annual fee, the Chase Sapphire Preferred still gives cardholders some fantastic travel and purchase protections.

• Trip Cancellation/Interruption Insurance: If your trip is canceled or interrupted by covered situations like sickness or severe weather, you can be reimbursed up to $10,000 per person and $20,000 per trip for your pre-paid, non-refundable travel expenses, including passenger fares, tours, and hotels.
• Auto Rental Collision Damage Waiver: You can decline coverage at the counter and receive primary rental car coverage for most rental cars in the U.S. and abroad.
• Baggage Delay Insurance: Reimburses you up to $100 a day for five days for essential purchases like toiletries and clothing for baggage delays over 6 hours.
• Trip Delay Reimbursement: If your common carrier travel is delayed more than 12 hours or requires an overnight stay, you and your family are covered for unreimbursed expenses, like meals and lodging, up to $500 per ticket.
• Purchase Protection: Covers your new purchases for 120 days against damage or theft up to $500 per claim and $50,000 per account.
• Extended Warranty Protection: Extends the U.S. manufacturer's warranty period by an additional year on eligible warranties of three years or less.

Having such comprehensive coverage can help you feel more relaxed when traveling. Although I’ve luckily never had to make a claim on my Sapphire Preferred, I do enjoy knowing that the option is available if necessary.

When to go with the Amex Platinum

The Amex Platinum could be the better choice if:

• You can take full advantage of the statement credits
• You’re looking for hotel and car rental status
• You want airport lounge access

Statement credits

The statement credits are undoubtedly where the majority of the value lies in the Amex Platinum. Here are the following credits you can utilize as a cardholder:

• Up to $200 hotel credit
  • Valid on prepaid Fine Hotels and Resorts or The Hotel Collection bookings through Amex Travel
• Up to $155 Walmart+ credit
  • Up to $12.95 per month
• Up to $200 Uber Cash each year
  • Valid for Uber Eats or Uber rides in the U.S., distributed as $15 per month, plus a bonus of $20 in December. Starting 11/8/2024, you must use an Amex card as the payment method to redeem your Amex Uber Cash benefit
• Up to $240 annual digital entertainment credit
  • Distributed as up to $20 per month for eligible purchases at Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, or The Wall Street Journal
• Up to $300 annually in statement credits for an Equinox digital or club membership
• Up to $200 annual airline fee credit
  • Must select one qualifying airline to receive this benefit
• Up to $199 annual CLEAR Plus credit
• Up to $100 Saks Fifth Avenue credit each year
  • Administered as a $50 credit in January through June and another $50 credit in July through December
• Trusted Traveler Program enrollment fee
  • Up to $120 for the Global Entry application every four years or up to $85 for TSA PreCheck every 4.5 years

If you can take advantage of each of these perks, it’s clear that you’ll more than cover your annual fee. However, if you don’t shop at Walmart, take Uber rides, have a membership at Equinox, or shop at Saks Fifth Avenue, these statement credits are little more than an advertisement for these merchants.

Hotel perks

Amex Platinum cardholders receive automatic Hilton Honors Gold and Marriott Bonvoy Gold Elite status. Additionally, the Amex Platinum offers benefits through Fine Hotels & Resorts (FH&R) and The Hotel Collection (THC). FH&R provides daily complimentary breakfast for two, free WiFi, a unique amenity, and a room upgrade when available. THC offers a $100 resort credit and a room upgrade if one is available.

If hotel perks are important to you, the Amex Platinum remains on top. The Chase Sapphire Preferred offers up to $50 in annual hotel credits, but its hotel benefits end there.

Lounge access

Another major perk of the Amex Platinum is that you can access more airport lounges than any other card. Through the American Express Global Lounge Collection, you can access The Centurion Lounge, Escape Lounges, Delta Sky Clubs, Lufthansa Lounges, Plaza Premium Lounges, and the Priority Pass network. Select benefits require enrollment.

The Sapphire Preferred doesn’t offer any lounge access, which is to be expected for a card with an annual fee below $100. However, if you can afford that high annual fee on the Amex Platinum and don’t already have a card that gives you airport lounge access, you can instantly elevate your travel experience.

A closer look at the welcome bonuses

With the Chase Sapphire Preferred, you can earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening (that's worth $750 when redeemed through Chase Travel). Plus, get up to $300 in statement credits on Chase Travel purchases within your first year. These points are worth 1.25 cents each when you use them to book travel through the Chase travel portal. Points can also be transferred at a 1:1 ratio to 14 airline and hotel partners.

With the Amex Platinum, new card members also get a fantastic welcome offer: Earn 80,000 Membership Rewards points after spending $8,000 on eligible purchases on your new card in the first 6 months. The value of these points varies greatly based on how you use them.

They are worth one cent each when booking or upgrading flights through American Express Travel, but other redemptions offer less value.

Although the current Amex Platinum welcome offer blows the Sapphire Preferred’s bonus out of the water, you likely aren’t deciding between these two cards based on bonuses alone. Take a step back and look at the cards as a whole to see how they can fit into your larger points and miles strategy.

Making the case for both cards

The points you earn in both rewards programs are flexible and can be used in multiple ways. You can use them to book travel through your card’s travel portal, transfer them to airline and hotel partners, or redeem them for statement credits, gift cards, and more.

Transferring points to airline and hotel transfer partners usually yields the most value for both the Amex Platinum and the Chase Sapphire Preferred. The Chase Sapphire Preferred offers three hotel partners and 11 airline transfer partners. The Amex Platinum also has three hotel partners, but it provides slightly more flexibility with its 17 airline transfer partners. Note that there is some overlap in airline and hotel transfer partners between the two cards, but you will get unique partners with each.

The earning potential and benefits between these two cards are very different, so there could easily be a situation where you’d want both cards in your wallet. If you can handle the combined annual fee, holding two of the most popular travel rewards cards on the market can be a solid choice. You don’t have to worry about overlapping benefits between the two cards, so you could receive maximum value from each.

FAQ

Bottom line

Comparing such different cards is no easy feat. Frequent travelers might opt for the Amex Platinum because of its airport lounge access, automatic hotel elite status, and lucrative statement credits.

Still, budget-conscious travelers may want to choose the Chase Sapphire Preferred. The Sapphire Preferred offers a way to earn extra points while still receiving travel protections and keeping an annual fee low. No matter which card you choose, try to take full advantage of all the cardholder benefits to justify the annual fee.

Luxury Travel Benefits

The Platinum Card^® from American Express

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The Platinum Card^® from American Express

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See rates and fees | Terms Apply

Current Offer

Earn 80,000 Membership Rewards points after spending $8,000 on eligible purchases on your new card in the first 6 months

Annual Fee

$695

Rewards Rate

5X points per dollar spent on eligible airfare (on up to $500,000 per calendar year, after that 1X) and eligible hotel purchases, and 1X points per dollar on all other eligible purchases

Benefits and Drawbacks

Benefits

• Enjoy hundreds of dollars in annual credits (enrollment required for select benefits)
• Gain access to exclusive airport lounges worldwide (enrollment required)
• Elevate your hotel stays with elite status perks (enrollment required)
• Earn valuable Membership Rewards points on flights and hotels
• Protect your trips with top-notch travel insurance

Drawbacks

• Comes with a hefty $695 annual fee
• Charges $175 for each authorized user
• Some credits are challenging to use

Card Details

• Earn 80,000 Membership Rewards points after spending $8,000 on eligible purchases on your new card in the first 6 months
• 5X points per dollar spent on eligible airfare (on up to $500,000 per calendar year, after that 1X) and eligible hotel purchases, and 1X points per dollar on all other eligible purchases
• Terms apply

Great for Flexible Travel Rewards

Chase Sapphire Preferred^® Card

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FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

Chase Sapphire Preferred^® Card

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Current Offer

Get up to $1,050 in Chase Travel℠ value. Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening. That's worth $750 when redeemed through Chase Travel. Plus, get up to $300 in statement credits on Chase Travel purchases within your first year.

Annual Fee

$95

Rewards Rate

5X points on travel purchased through Chase Travel℠; 3X points on dining, select streaming services, and online groceries; 2X points on all other travel purchases, and 1X points on all other purchases

Benefits and Drawbacks

Benefits

• Generous welcome offer valued at up to $1,050 when redeemed via Chase Travel
• High rewards on dining and bookings via Chase Travel
• 25% more value when redeeming points for travel through Chase Travel
• Up to $50 in annual statement credits for hotel stays booked through Chase Travel
• Receive valuable travel protections like trip delay reimbursement and primary rental car insurance

Drawbacks

• Has a $95 annual fee
• Doesn’t offer airport lounge access or premium travel perks like Global Entry or TSA PreCheck credit
• Doesn't offer bonus points on gas or in-person groceries purchases

Card Details

• Get up to $1,050 in Chase Travel℠ value. Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening. That's worth $750 when redeemed through Chase Travel. Plus, get up to $300 in statement credits on Chase Travel purchases within your first year.
• Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
• Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
• Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
• Member FDIC