Introduction: The High-Stakes Game of Premium Travel Cards

As a travel credit card blogger, I’m constantly asked which premium card is worth the hefty annual fee. Let’s face it, we’re talking about significant investments, so the rewards and perks must deliver. For years, the battle has raged between two titans: The Platinum Card from American Express and the Chase Sapphire Reserve. Both boast luxurious travel benefits and premium rewards, but with the Sapphire Reserve undergoing a recent revamp (complete with a boosted annual fee), it’s time to dive deep and see which card truly deserves a spot in your wallet. I’ve personally used both extensively, and I’m here to share my firsthand experiences and break down the pros and cons of each.

Head-to-Head Comparison: Amex Platinum vs. Chase Sapphire Reserve

Let’s start with a side-by-side look at the key features:

| Feature | Amex Platinum | Chase Sapphire Reserve | |———————-|————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————-|——————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————| | Welcome Offer | Find out your offer and see if you are eligible to earn as high as 175,000 bonus points after spending $8,000 on purchases within the first six months of card membership. Welcome offers vary, and you may not be eligible for an offer. | Earn 100,000 bonus points and a $500 Chase Travel℠ credit* after spending $5,000 on purchases in the first three months from account opening. | | Annual Fee | $695 | $795 | | Earning Rates | • 5 points per dollar spent on flights booked directly with airlines or via American Express Travel® (on up to $500,000 of airfare purchases per calendar year, then 1 point per dollar). • 5 points per dollar spent on prepaid hotels booked with Amex Travel. • 1 point per dollar spent on other eligible purchases. | • 10 points per dollar spent on Peloton equipment and accessory purchases of $150 or more (through Dec. 31, 2027). • 8 points per dollar spent on all Chase Travel purchases. • 5 points per dollar spent on Lyft rides (through Sept. 30, 2027). • 4 points per dollar spent on flights and hotel purchases directly from the merchant. • 3 points per dollar spent on dining. • 1 point per dollar spent on all other purchases. | | Notable Benefits | • Airline: Up to $200 airline incidental statement credit per calendar year • Uber: Up to $200 in annual Uber Cash for U.S. services per calendar year: $15 monthly, with a $20 bonus in December (Uber Cash will only be deposited into one Uber account when you add the Amex Platinum Card as a payment method and redeem with any Amex card) • Saks: Up to $100 annual Saks Fifth Avenue statement credit per calendar year (up to $50 biannually) • Hotel: Up to a $200 annual hotel statement credit per calendar year, 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 Clear Plus statement credit per calendar year to cover your annual membership • Digital Streaming: Up to $240 annual digital entertainment statement credit per calendar year (up to $20 per month) • Equinox: Up to $300 annual Equinox credit per calendar year (subject to auto-renewal) • SoulCycle: Up to $300 in annual SoulCycle statement credits per calendar year (must use the Platinum Card to purchase a full-priced bike and must be enrolled in Equinox+) • Walmart+: Up to $155 in statement credits per calendar year to cover the cost of a monthly Walmart+ membership when paying with your 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: An application fee credit ($120 for Global Entry every four years or up to $85 for TSA PreCheck every 4 1/2 years) | • Travel: $500 annual statement credit for The Edit (up to $250 biannually), plus a $300 annual travel credit • Global Entry/TSA PreCheck/Nexus: An application fee credit (up to $120 every four years) • Entertainment: $300 annual statement credit for StubHub or Viagogo (up to $150 biannually; through Dec. 31, 2027) • Apple TV+/Apple Music: Complimentary subscriptions to Apple TV+ and Apple Music (through June 22, 2027) • Dining credit: $300 annual dining credit at Sapphire Reserve Exclusive Tables (up to $150 biannually) • Peloton: $120 in annual statement credits toward Peloton memberships; activation required (through Dec. 31, 2027) • DoorDash: Complimentary DoorDash DashPass subscription (activate by Dec. 31, 2027) and $25 in DoorDash promos each month when you have an active DashPass membership • Lyft: $10 monthly credit in-app; does not apply to Wait & Save, bike or scooter rides (through Sept. 30, 2027) • IHG elite status: Complimentary IHG One Rewards Platinum Elite status • Additional spend-incentivized perks after spending $75,000 in a calendar year |

Welcome Offers: A Lucrative Start

The welcome bonus is the first thing I consider when evaluating a new card. It’s essentially “free money” for meeting a spending requirement. The Amex Platinum offers the potential for a higher bonus, up to 175,000 Membership Rewards points after spending $8,000 within the first six months. If you are eligible for the offer. Membership Rewards points, in my experience, are valuable, but Amex’s “once in a lifetime” rule for welcome offers can be a major drawback. If you aren’t targeted for the highest offer, it might be wise to wait.

On the other hand, the Sapphire Reserve offers 100,000 bonus points and a $500 Chase Travel credit after spending $5,000 in the first three months. This is a fantastic bonus, and it’s particularly appealing because of the easier-to-achieve spending requirement.

Benefits Breakdown: Maximizing Value and Lifestyle

This is where things get really interesting. Both cards are loaded with benefits designed to offset the annual fee. The Sapphire Reserve has a $500 hotel credit through The Edit, a $300 flexible travel credit, and a $300 entertainment credit. These credits are pretty straightforward to use. I especially appreciate the flexible travel credit, which can be applied to a wide range of travel purchases, including airfare, hotels, and even tolls. The card also offers dining credits, the usual credits for Global Entry/TSA Precheck, and the unexpected benefits of Apple TV+/Music subscriptions and partnership with Peloton.

The Amex Platinum, however, is a statement credit powerhouse. It offers credits for airline incidental fees, Uber, Saks Fifth Avenue, hotels (booked through Amex Travel), Clear Plus, digital entertainment, Equinox, SoulCycle, and even Walmart+. While the potential value is high, maximizing these credits requires more effort and careful planning. You have to remember to use them, and they’re often restricted to specific merchants or services. I find myself juggling multiple enrollments and keeping track of expiration dates to avoid leaving money on the table. The Equinox credit is great if you’re already a member, but less useful otherwise.

Also, Amex Platinum has access to the global lounge network, including Centurion Lounges, Priority Pass lounges, and Delta Sky Clubs (with limited visits). Sapphire Reserve has Priority Pass and Chase Sapphire Lounge, and it can let you bring 2 guests compared to the Amex Platinum.

Earning Points: Where Do You Spend the Most?

The Amex Platinum shines when booking flights directly with airlines or through Amex Travel, earning 5 points per dollar. However, the Sapphire Reserve takes the lead in other categories. It offers bonus points on Chase Travel purchases, dining, and even select purchases like Peloton equipment. I find that the Sapphire Reserve’s broader range of bonus categories makes it easier to accumulate points on everyday spending.

Redeeming Points: Flexibility and Value

Chase Ultimate Rewards offer a 50% bonus when redeeming for travel through Chase Travel (until Oct. 26, 2027). I love the flexibility of this option, as it allows me to book flights and hotels without worrying about award availability. Amex Membership Rewards, on the other hand, offer less value when redeemed directly through American Express Travel.

Transfer Partners: Unlocking Premium Travel

Both programs offer the option to transfer points to airline and hotel partners. Chase Ultimate Rewards have 14 partners, including United, Southwest, and Hyatt. Amex Membership Rewards have 21 partners, offering a wider range of options. However, some Amex transfers have less favorable ratios or longer processing times. I consider both have good transfer programs and I utilise this part of the credit card program as often as I can.

The Verdict: Which Card is Right for You?

So, after all this, which card should you choose?

* Choose the Amex Platinum if: You value lounge access, can maximize the statement credits, and primarily book flights directly with airlines. * Choose the Chase Sapphire Reserve if: You want straightforward benefits, flexible travel redemptions, and bonus points on a wider range of spending categories.

For me, it’s a close call, but after the Sapphire Reserve’s recent revamp, I’m leaning towards the Chase card. The straightforward statement credits, broader earning categories, and flexible redemption options make it a more compelling choice for my travel style.

Ultimately, the best card depends on your individual spending habits and travel preferences. Take a close look at the benefits, earning rates, and redemption options to determine which card aligns best with your needs. And remember, the world of travel credit cards is constantly evolving, so stay tuned for more updates and reviews!