The Chase Sapphire Preferred is great for individuals who travel occasionally and want to earn rewards on their dining and travel purchases.
The Amex Platinum is designed for frequent travelers who appreciate luxury travel perks like airport lounge access.
This article will provide you with a detailed breakdown of the benefits of each card so you can choose the one that best suits your needs.
Let’s dive right in.
Overview of the Cards
- 5x Points on Travel Booked Via Chase
- 3x Points on Dining and Eligible Delivery Services
- 2x Points on All Other Travel Purchases
- 10% Anniversary Points Boost
- Trip Delay and Trip Cancellation Insurance
- Primary Rental Car Insurance
- $95 Annual Fee
The Chase Sapphire Preferred currently offers the following welcome bonus:
Winner: Amex Platinum.
American Express Membership Rewards points are generally worth more than Chase Ultimate Rewards (unless redeemed for hotel nights). Plus, the Amex Platinum potentially has higher targeted welcome bonus offers.
The Chase Sapphire Preferred earns Ultimate Rewards points and offers bonus points on spending in several categories:
- 5 points per dollar on travel booked through the Chase travel portal;
- 5 points per dollar on Lyft purchases (through March 2025);
- 5 points per dollar on Peloton equipment and accessory purchases of $250 or more (through March 2025, with a limit of 25,000 bonus points);
- 3 points per dollar on dining, including eligible delivery services, takeout, and dining out;
- 3 points per dollar on online grocery store purchases (excludes Target, Walmart, and wholesale clubs);
- 3 points per dollar on select streaming services, including Netflix, Disney+, Spotify, Youtube TV, Pandora, Apple Music, SiriusXM, Sling, Vudu, Fubo TV, Hulu, and ESPN+;
- 2 points per dollar on all travel not booked through the Chase travel portal; and
- 1 point per dollar on all other eligible spending.
Amex Platinum cardholders earn rewards at the following rates:
- 5 points per dollar on flights booked directly with airlines or through American Express Travel, on up to $500,000 on these purchases per calendar year.
- 5 points per dollar on prepaid hotels booked on AmexTravel.com.
- 1 point per dollar on all other purchases.
Cardmembers are also eligible for targeted Amex Offers that could boost earning rates at various merchants.
Winner: Chase Sapphire Preferred.
The Chase Sapphire Preferred offers more points on everyday spending like dining, online grocery, streaming, and general travel. Plus, it matches the Amex Platinum’s 5 points per dollar for travel booked through the issuer’s travel portal.
The Amex Platinum only beats the Sapphire Preferred when it comes to flights booked directly with the airlines (5x vs 2x points), but the Sapphire Preferred is the overall winner for earning points.
The Sapphire Preferred offers nice benefits, including:
- Receive 25% more value on points redeemed for travel through the Chase Ultimate Rewards® portal.
- $50 annual credit on hotel stays purchased through Ultimate Rewards.
- 10% Points Bonus for each Cardmember anniversary.
- A complimentary one-year subscription to DashPass by DoorDash when you enroll by December 31, 2024.
- Trip cancellation and interruption insurance (up to $10,000 per person and $20,000 per trip).
- Primary car rental insurance.
- Lost luggage reimbursement (up to $3,000 per passenger)
- Baggage delay insurance (up to $100 per day for five days).
- Trip delay insurance (up to $500 per ticket for a delay longer than 12 hours or overnight).
- Extended warranty.
- 120 days purchase protection (up to $500 per claim and $50,000 per year).
- No foreign transaction fees.
- Free 6-month membership to Instacart+ (activate by July 31, 2024).
The Amex Platinum is widely recognized as a premium travel credit card, and it certainly lives up to that reputation by offering a range of exclusive perks and benefits, including:
Airport Lounge Access: Centurion Lounges, Priority Pass lounges, Escape lounges, Plaza Premium lounges, and Delta Sky Clubs (when traveling on same-day Delta flights).*
$200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your card.*
$200 Uber Cash: Enjoy Uber VIP status and up to $200 annually in Uber savings on rides or eats orders in the U.S., which is split into monthly $15 credits and then $35 total in December.*
$240 Digital Entertainment Credit: Get up to $20 in statement credits each month when you pay for eligible purchases at: Disney+, ESPN+, Hulu, The New York Times, Peacock, SiriusXM, and The Wall Street Journal. Enrollment is required.*
$155 Walmart+ Credit: Receive up to a $155 statement credit that covers the full cost of a monthly Walmart+ membership ($12.95 plus applicable taxes) when paying with the Amex Platinum (subject to auto-renewal). Plus Up Benefits are not eligible and enrollment is required.*
$200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection (2-night minimum stay required) bookings with American Express Travel when you pay with your Platinum Card®.*
$300 Equinox Credit: Get up to $300 back per calendar year via statement credits on an Equinox+ subscription, or any Equinox club memberships when you pay with your Platinum Card®. Enrollment is required.*
$189 CLEAR® Plus Credit: Breeze through security with CLEAR® Plus at 100+ airports, stadiums, and entertainment venues nationwide and get up to $189 back per year on your membership (subject to auto-renewal) when you use your Platinum Card®.*
$100 Global Entry Credit: Receive a $100 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. *
Shop Saks with Platinum: Get up to a $100 Saks Fifth Avenue credit, split into two $50 statement credits between (1) January and June and (2) July through December. *
$300 SoulCycle At-Home Bike Credit: Get a $300 statement credit for the purchase of a SoulCycle at-home bike with your Platinum Card®. Must charge full price of bike in one transaction, and an Equinox+ subscription is required.*
Hotel Status: Complimentary Gold status with Hilton Honors and Marriott Bonvoy.*
Rental Car Status: Hertz President’s Circle, Avis Preferred Plus and National Emerald Club Executive.*
Other benefits include:
- Trip delay insurance; **
- Trip cancellation insurance; **
- Extended warranty;**
- Purchase protection;**
- Return protection;** and
- No preset spending limit.
* Enrollment is required for select benefits.
** Eligibility and benefit level varies by card. Terms, conditions, and limitations apply. Please visit americanexpress.com/benefitsguide for more details.
Winner: Platinum Card® from American Express
The Amex Platinum Card offers exclusive airport lounge access, generous statement credits for travel expenses, complimentary Global Entry and TSA PreCheck memberships, elite status with hotel and rental car loyalty programs, and many other premium benefits that set it apart from other cards.
It’s an exceptional choice for individuals seeking a top-of-the-line travel experience.
The Chase Sapphire Preferred comes with an annual fee of $95.
While some users might be initially deterred by this cost, it’s important to consider the value and benefits that come with the card.
The rewards points, travel benefits, and purchase protections can help offset the cost of the annual fee for frequent travelers.
The Amex Platinum comes with a hefty annual fee of $695 (rates & fees), which can be offset if you take advantage of the numerous credits totaling up to $1,984 per year, airport lounge access, and elite status.
There is also a $195 annual fee for each additional authorized user Platinum Card, who also receive airport lounge access, Global Entry/TSA PreCheck credit, and hotel and rental car elite status.
For example, if you had three authorized users with Amex Platinum cards, your additional fee would be $585.
Alternatively, you can add for free up to 99 Companion Cards for free, which allows you to earn points for spending on the Companion Card, but there are no perks like airport lounge access.
Winner: It depends.
The Chase Sapphire Preferred is a winning choice for casual travelers due to its lower annual fee. It’s for individuals who don’t need premium perks and benefits.
The Platinum Card’s annual fee is obviously higher, but the various statement credits and complimentary lounge access can add up to thousands of dollars in value, potentially offsetting the higher annual fee. This card is a winner for frequent travelers who can fully maximize the card’s benefits.
The earns Ultimate Rewards points, one of the most flexible points currencies.
You can use your points to book flights, hotel stays, and even rent a car through Chase Travel — all at a fixed rate of 1.25 cents per point. For example, 100,000 points are equivalent to $1,250 towards travel.
You can unlock even more value than 1.25 cents per point by transferring rewards to Chase airline and hotel partners.
American Express Membership Rewards is a popular rewards program that offers a variety of redemption options, including travel, merchandise, gift cards, and more.
However, to get the most value out of your rewards, it’s important to use them strategically.
One of the best ways to use Amex Membership Rewards is through transfer partners.
By transferring your points to these partners, you can often get more value per point and enjoy a wider range of redemption options.
|Membership Rewards Transfer Partners [1 to 1]|
|Aer Lingus Avios||AeroMexico [1 to 1.6]|
|Air Canada Aeroplan||Air France/KLM Flying Blue|
|British Airways Avios||Cathay Pacific Asia Miles|
|Delta SkyMiles||El Al [1,000 to 20]|
|Hawaiian Airlines||Iberia Avios|
|JetBlue [250 to 200]||Qantas|
|Qatar Airways||Singapore KrisFlyer|
|Marriott Bonvoy||Hilton Honors [1 to 2]|
Winner: Platinum Card® from American Express
Although redemption values can vary greatly, the Platinum Card was chosen as the winner for its extensive range of redemption options. With more transfer partners available, you have more opportunities to find deals that offer higher value for your points.
For frequent flyers and luxury travelers, the American Express Platinum Card is definitely the superior choice, with exclusive travel perks and rewards that can’t be matched by other cards. Sure, it has a higher annual fee, but its benefits can easily offset the cost for those who can take full advantage of them.
On the other hand, the Chase Sapphire Preferred is a fantastic option for those who prioritize flexible rewards and a lower annual fee. Its versatile rewards program offers bonus points not just on travel and dining purchases, but also on streaming and grocery purchases. This card is perfect for individuals who want a single card that they can use for travel and also for everyday expenses.
When choosing between the American Express Platinum Card and the Chase Sapphire Preferred, it’s essential to think about what benefits you value most based on your travel style and spending habits. Ask yourself questions like: Do you want to access airport lounges or earn rewards in flexible categories? How often do you plan to use these benefits?
By taking the time to consider these factors, you can pick the card that gives you the most value and fits your unique needs. Remember, the right card for you depends on your individual preferences and goals, so take the time to choose wisely.