American Express Platinum Card® and the Chase Sapphire Preferred® Card are two of the most popular travel credit cards.
The Amex Platinum offers the most comprehensive airport lounge network available, giving you access to premium Centurion Lounges plus thousands of other lounges worldwide. You can easily offset the card’s large annual fee through generous credits for Uber, hotels, digital entertainment, Resy dining, and lifestyle brands like lululemon.
The Chase Sapphire Preferred is one of the most popular travel rewards cards because it offers nice welcome bonus and extra points on travel and dining, which can be transferred to airline and hotel partners or redeemed directly for travel at a rate of 1.25 cents per point through Chase Travel℠. The Sapphire Preferred also offers great travel and purchase protections for a card with a $95 annual fee.
This article will compare each card based on several factors to help you make an informed decision on which card is the best to add to your wallet.
Full Reviews: Chase Sapphire Preferred® Card and American Express Platinum Card®.
Chase Sapphire Preferred vs. American Express Platinum Overview
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- 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
Welcome Bonus
Chase Sapphire Preferred:
Let’s begin with one of the most attractive aspects of the Chase Sapphire Preferred: the welcome bonus. Currently, new cardholders can earn the following welcome bonus:
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American Express Platinum:
The American Express Platinum currently offers the following welcome bonus:
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Earning Points
Chase Sapphire Preferred:
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 Chase Travel;
- 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;
- 2 points per dollar on all travel not booked through Chase Travel; and
- 1 point per dollar on all other eligible spending.
American Express Platinum:
- 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.
Winner:
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.
Card Benefits
Chase Sapphire Preferred:
The Chase Sapphire Preferred offers nice benefits, including:
10% Points Bonus: You will earn bonus points equivalent to 10% of your total spending in points earned with your Chase Sapphire Preferred Card during the past account anniversary year. For example, if you spent $10,000 during your cardmember year, you would receive an additional 1,000 points ($10,000 * 10% = 1,000 points).
$50 Hotel Credit: The Chase Sapphire Preferred card offers up to $50 in statement credits every account anniversary year if you book your hotel stays through Chase Travel.
DashPass Membership: This card offers a one-year DashPass membership for free, which includes DoorDash and Caviar, offering unlimited deliveries with free delivery fees and reduced service fees for eligible purchases. The offer must be activated by December 31, 2027. Once the free membership is over, you will be automatically enrolled in DashPass at the prevailing monthly rate.
Instacart Membership: Have your groceries delivered to your doorstep with a complimentary 6-month Instacart+ membership plus a $15 credit once every quarter. Enrollment is required by July 31, 2024.
No Foreign Transaction Fees: You’ll save money on every purchase while traveling internationally since this card doesn’t add the typical 3% surcharge that many other cards impose.
Travel Benefits
Primary Rental Car Insurance: When you rent a car and pay with this card, you’ll receive comprehensive coverage including damage and theft protection. Simply decline the rental company’s collision damage waiver and charge the entire rental to your card to activate coverage. This insurance covers damage, theft, and valid loss-of-use charges worldwide.
Trip Cancellation & Interruption Insurance: This protection reimburses you for non-refundable, prepaid travel expenses if you need to cancel before departure or cut your trip short due to covered situations like severe illness or weather events. Coverage activates when you pay for your trip with the card, but it’s important to note that reimbursement only applies for specific covered reasons rather than any cancellation.
Trip Delay Insurance: When your trip is significantly delayed due to covered reasons like equipment failures or severe weather, this protection reimburses you for reasonable expenses including lodging, meals, toiletries, and medication. The coverage activates when you pay for travel with your card and extends to family members on the same itinerary, though you’ll need to seek reimbursement from the travel carrier first.
Lost Luggage Reimbursement: Your checked luggage gets extra protection against loss, theft, or damage beyond the basic compensation offered by carriers when you pay for travel with this card.
Baggage Delay Insurance: Missing luggage doesn’t have to derail your trip – this coverage steps in to reimburse you for essential purchases when your checked bags are delayed by airlines, trains, or other carriers. You can grab the necessities you need, from a fresh outfit to personal care items, while waiting for your bags to arrive.
Purchase Benefits
120-Day Purchase Protection: Get 120 days of protection against damage, theft, and even loss of your purchases – one of the longest windows available. This premium coverage automatically applies when you pay with your card.
Extended Warranty Protection: Your purchases gain an extra year of warranty protection when bought with this card, extending manufacturer warranties of three years or less without the inflated prices of store warranty plans.
American Express Platinum:
The Amex Platinum offers the most benefits of any credit card, including the following:
Lounge Access: Eligible Card members get access to the extensive American Express Global Lounge Collection, including Centurion Lounges, Priority Pass lounges, Lufthansa lounges (when flying Lufthansa, SWISS, or Austrian) and Delta Sky Clubs when flying Delta. Platinum members receive 10 Delta Sky Club visits annually per eligible card (unless you spend $75,000 in a calendar year) when traveling on same-day Delta flights.
Airline Fee Credit: You’ll receive up to $200 in statement credits annually for incidental fees charged by one qualifying airline of your choice.*
Hotel Credits: You’ll receive up to $600 in hotel credits annually with this card, split into two convenient semi-annual periods. The credit structure gives you up to $300 from January through June and another $300 from July through December.*
Uber Cash: Your card provides up to $200 annually in Uber Cash, distributed as up to $15 monthly credits, plus a bonus of up to $20 in December. These credits can be used for both Uber rides and Uber Eats orders within the United States when you add your Platinum Card as a payment method and redeem with any Amex card.*
Uber One Credit: You’ll receive up to $120 annually in statement credits after purchasing an auto-renewing Uber One membership with your card, which is separate from the existing $200 annual Uber Cash benefit.*
CLEAR Plus Credit: You can cover the cost of a CLEAR Plus Membership with up to $209 in statement credits per calendar year after you pay for CLEAR Plus with this card.*
Digital Entertainment Credit: You’ll receive up to $25 monthly (up to $300 annually) in credits toward popular streaming services like Disney+, Hulu, ESPN+, Paramount+, Peacock, YouTube Premium, YouTube TV, and digital subscriptions to The New York Times and The Wall Street Journal. *
Resy Dining Credit: You’ll receive up to $100 quarterly (up to $400 annually) in statement credits when you use your card for eligible dining purchases at over 10,000 U.S. Resy restaurants.*
Lululemon Shopping Credit: You’ll receive up to $75 quarterly (up to $300 annually) in statement credits when you use your card for eligible purchases with Lululemon in the U.S.*
Oura Ring Credit: You’ll receive up to $200 annually in credits when you use your card to purchase an Oura Ring through ouraring.com.*
Equinox Credit: Enjoy up to $300 in annual statement credits toward Equinox gym memberships or the Equinox+ fitness app (subject to auto-renewal).*
SoulCycle Benefit: You can receive up to $300 in statement credits toward the purchase of a SoulCycle at-home bike (up to 15 bikes per calendar year). To qualify, you must be enrolled in an Equinox+ membership when making your purchase.*
Walmart+ Credit: Receive up to $155 in statement credits annually (up to $12.95 monthly plus applicable taxes) covering a Walmart+ membership when paying with your Platinum Card.
Global Entry/TSA PreCheck: You’ll get a $120 statement credit for Global Entry every four years or up to $85 credit for TSA PreCheck every 4.5 years.
Saks Fifth Avenue Credit: Enjoy up to $100 in Saks Fifth Avenue statement credits annually, divided into two $50 credits (January-June and July-December).*
Hotel Elite Status: Enjoy complimentary Gold status with both Hilton Honors, Marriott Bonvoy, and Leaders Club hotel programs.*
Car Rental Status: Enjoy complimentary elite status with multiple car rental agencies: Hertz Gold Plus Rewards President’s Circle, Avis Preferred Plus, and National Emerald Club Executive.
Premium Hotel Programs: You’ll have access to exclusive Amex Fine Hotels + Resorts and The Hotel Collection booking programs. These provide valuable perks like room upgrades, daily breakfast for two, guaranteed late checkout, and unique property amenities during your stays.
Travel Protections: Your Platinum Card covers trip delays over six hours (up to $500), cancellations/interruptions (up to $10,000), secondary rental car insurance when declining the rental company’s waiver, and baggage insurance for lost, damaged, or stolen items when purchasing tickets with your card.**
Shopping Protections: Your Platinum Card safeguards purchases with extended warranty coverage adding up to one year to eligible manufacturer’s warranties, protection against theft, damage, or loss for 90 days, potential reimbursement when merchants refuse returns within 90 days, and cell phone protection when you pay your monthly bill with your card.**
* 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:
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.
Annual Fee
Chase Sapphire Preferred:
The Chase Sapphire Preferred has a $95 annual fee, which may give some people pause. However, as a frequent traveler, I’ve found that the card’s benefits and rewards can easily offset this cost.
Think about it this way: if you take advantage of the welcome bonus and redeem those points for travel, you’ve already recouped the annual fee many times over. Plus, the ongoing rewards and perks like travel insurance, hotel credit, and no foreign transaction fees can save you money and provide peace of mind during your trips.
Amex Platinum:
The Amex Platinum comes with a hefty annual fee of $895 (rates & fees), which can be offset if you take advantage of the numerous credits and great airport lounge access.
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.
Redeeming Points
Chase Sapphire Preferred:
The Chase Sapphire Preferred offers exceptional flexibility when it comes to points redemption, allowing you to create the travel experiences you’ve been dreaming of.
One popular redemption option is booking travel through the Chase Travel portal. Here, your points are worth 1.25 cents apiece, meaning that a substantial amount of points can be redeemed for a significant value towards travel. I’ve used this option to book flights, hotels, and rental cars, and I appreciate the simplicity of the process. Plus, when you book through the portal, you can still earn airline miles and hotel points on your reservations.
If you’re looking to stretch your points even further, transfer to Chase’s airline and hotel partners. Some notable transfer partners include United Airlines, Southwest Airlines, British Airways, Air France/KLM, Hyatt, and Marriott. By strategically transferring points, you can unlock incredible redemption opportunities like first-class flights or luxurious resort stays.
In my experience, transferring points to Hyatt has yielded some of the most valuable redemptions. By leveraging my Ultimate Rewards points, I’ve booked top-tier properties like the Park Hyatt Paris-Vendôme and the Andaz Maui at Wailea Resort for a fraction of the cash price.
Of course, if you’re not in the mood for travel, you can always redeem your points for statement credits or gift cards at a rate of 1 cent per point. While this may not provide the most bang for your buck, it’s a decent option to have for those times when you need a little extra cash in your pocket.
Ultimate Rewards Transfer Partners [1 to 1]
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Aer Lingus
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Air Canada Aeroplan
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Air France/KLM
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British Airways
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Emirates
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Hyatt Hotels
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Iberia
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IHG Hotels
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JetBlue
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Marriott
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Singapore
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Southwest
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United
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Virgin Atlantic
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Amex Platinum:
American Express Membership Rewards points are a versatile and valuable currency for travelers. The program offers numerous redemption options, with transfers to airline partners being the most lucrative way to use your points.
Amex partners with 18 airlines and 3 hotel chains, allowing you to access a wide range of travel possibilities. Some of the best redemptions include booking business class flights to Europe through Air France-KLM Flying Blue for as low as 50,000 miles one-way. Virgin Atlantic’s Flying Club offers excellent value for Delta One flights to Europe at 50,000 points, significantly less than booking directly through Delta.
For those planning a trip to Asia, transferring to ANA Mileage Club can yield incredible value. Round-trip business class flights from the West Coast to Tokyo can be booked for just 90,000 miles. Singapore Airlines KrisFlyer is another great option, especially for their renowned long-haul flights like New York to Singapore.
Domestic travelers can benefit from transferring to British Airways Executive Club for short-haul American and Alaska Airlines flights, with awards starting at just 8,250 Avios for distances up to 650 miles.
While transferring to airline partners typically offers the best value, Amex also allows direct redemptions for flights through their travel portal. However, this option generally provides lower value at 1 cent per point.
To maximize your Membership Rewards, focus on high-value airline transfers for premium cabin international flights. With strategic planning, you can unlock extraordinary travel experiences and significant savings on your next adventure.
Membership Rewards Transfer Partners [1 to 1]
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Aer Lingus Avios
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AeroMexico [1 to 1.6]
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Air Canada Aeroplan
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Air France/KLM Flying Blue
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ANA
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Avianca LifeMiles
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British Airways Avios
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Cathay Pacific Asia Miles
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Delta SkyMiles
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El Al [1,000 to 20]
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Emirates
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Etihad Guest
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Hawaiian Airlines
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Iberia Avios
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JetBlue [250 to 200]
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Qantas
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Qatar Airways
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Singapore KrisFlyer
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Virgin Atlantic
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Choice
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Marriott Bonvoy
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Hilton Honors [1 to 2]
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Winner:
Amex Platinum. 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.
The Verdict
Both the Amex Platinum and the Chase Sapphire Preferred are great cards.
The Amex Platinum is the superior choice for frequent flyers and luxury travelers, with exclusive travel perks and rewards that other cards can’t match. 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.
Which card are you going to choose?
