The Ultimate Guide to the Amex Platinum vs. Chase Sapphire Reserve: Which $550-Plus Card is Right for You?
As luxury travel perks become increasingly common, so too do the accompanying hefty annual fees. With so many premium credit cards on the market, it can be difficult to determine which one is right for you. Two of the most popular options are The Platinum Card® from American Express and the Chase Sapphire Reserve®.
In this guide, we’ll compare these two cards side-by-side to help you make an informed decision. We’ll cover everything from welcome offers to benefits to earning and redeeming points. By the end, you’ll know which card is the best fit for your travel lifestyle.
Amex Platinum vs. Sapphire Reserve Comparison
| Feature | Amex Platinum | Sapphire Reserve | |—|—|—| | Welcome Offer | Earn 80,000 Membership Rewards points after spending $8,000 on purchases within the first six months of card membership. | Earn 60,000 Chase Ultimate Rewards points after spending $4,000 on purchases in the first three months from account opening. | | Annual Fee | $695 (see rates and fees) | $550 | | Earning Rates | Earn 5 points per dollar spent on flights booked directly with airlines or via American Express Travel (on up to $500,000 in purchases per calendar year, then 1 point per dollar). Earn 5 points per dollar spent on prepaid hotels booked with American Express Travel. Earn 1 point per dollar spent on other eligible purchases. | Earn 10 points per dollar spent on hotels and car rentals purchased through Chase Travel℠. Earn 10 points per dollar spent on dining purchases through the Chase portal. Earn 10 points per dollar spent on Lyft rides (through March 31, 2025). Earn 10 points per dollar spent on Peloton equipment and accessory purchases (through March 2025) of $150 or more, with a maximum of 50,000 points. Earn 5 points per dollar spent on flights purchased through Chase Travel. Earn 3 points per dollar spent on all other travel (excluding the $300 travel credit) and dining purchases worldwide. Earn 1 point per dollar spent on everything else. | | Notable Benefits | Airline: Up to $200 annual airline incidental statement credit. Uber: Up to $200 in annual Uber Cash for U.S. services: $15 monthly, with a $20 bonus in December. Saks: Up to $100 annual Saks Fifth Avenue statement credit (up to $50 biannually). Hotel: Up to a $200 annual hotel statement credit, valid on prepaid Amex Fine Hotels + Resorts or The Hotel Collection bookings (of two nights or more) with Amex Travel when you pay with your Amex Platinum. Clear Plus: Up to $199 annual Clear Plus statement credit to cover your annual membership. Digital Streaming: Up to $240 annual digital entertainment statement credit (up to $20 per month). Equinox: Up to $300 annual Equinox credit (subject to auto-renewal). SoulCycle: Up to $300 in annual SoulCycle statement credits (must use the Platinum card to purchase a full-priced bike and must be enrolled in Equinox+). Walmart+: Up to $155 in statement credits that cover the cost of a monthly Walmart+ membership when paying with their Amex Platinum (up to $12.95 plus applicable taxes on one membership fee; subject to auto-renewal; Plus Up Benefits are excluded). Global Entry/TSA PreCheck application fee credit (up to $120). | Travel: $300 annual travel credit. Global Entry/TSA PreCheck/Nexus application fee credit (up to $120). * DoorDash: Complimentary DoorDash DashPass subscription (activate by Dec. 31, 2027) and $5 in DoorDash credits each month. |
*Enrollment is required.
Amex Platinum vs. Sapphire Reserve Welcome Offer
When considering a new card, especially one with a $500-plus annual fee, most people first look at the welcome offer to see how much of that annual fee they can start recouping immediately.
With its $695 annual fee (see rates and fees), the Amex Platinum offers new applicants 80,000 Membership Rewards points after spending $8,000 on purchases in the first six months of card membership. However, it’s worth checking to see if you’re targeted for a higher offer of up to 150,000 points through the CardMatch tool (offer subject to change at any time).
TPG’s March 2025 valuations peg Membership Rewards points at 2 cents each, making the initial welcome offer of 80,000 points worth $1,600 alone. Since Amex only allows you to earn a welcome offer on each of its cards once per lifetime, it might be tempting to hold off on applying for the Amex Platinum in hopes that you may be targeted through CardMatch for a higher bonus at some point in the future.
Meanwhile, the Chase Sapphire Reserve is currently offering a sign-up bonus of 60,000 bonus points after you spend $4,000 in the first three months from account opening.
TPG’s March 2025 valuations peg Ultimate Rewards points at 2.05 cents each, making this bonus worth $1,230. That’s slightly lower than the Amex Platinum offer’s spending requirement, though.
Winner: The Amex Platinum takes the lead in this first category, especially if you are targeted for an elevated offer through CardMatch.
