While youll pay over $1,200 in annual fees between the two cards, I think it absolutely could make sense to have both. Underwritten by New Hampshire Insurance Company, an AIG Company. We may receive compensation when you click on links to those products. Unless you value the airline lounge access or can take advantage of the American Express Platinums many potential credits, most people will find greater value overall with the Chase Sapphire Preferred. Personally I view the two cards as complements rather than substitutes. Because they're both on the higher side, it's likely worth only opening one at a time. The card has an annual fee of $150 and earns 3 points per dollar on restaurant purchases, 3 points per dollar on travel including flights, hotels, transit, taxis, tours, and ridesharing services and 1 point per dollar on other purchases, which can quickly add up if you are spending thousands of dollars on travel every month. It will automatically apply to a broad range of travel purchases, while the $200 Amex airline credit only applies to select fees such as seat assignments or checked bags and you're limited to a single airline you designate each year. That's $750 when you redeem through Chase Ultimate Rewards. The Platinum Card from. Personally, Enter the authorized user's detail s: After clicking on the 'add authorized user' tab, you will be . Keep in mind you may still want to opt for the rental company's liability insurance. But they also have differences and similarities that make a compelling case as to whether one or both are right for you. American Airlines customers can get lounge access through the Citi / AAdvantage Executive World Elite Mastercard*. Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more. Some people give Chase the edge since it partners with more programs you may already be familiar with and includes Hyatt (arguably the most lucrative hotel program based on the value of its points). It earns one point per dollar on everything else. A native New Yorker and avid photographer, David previously covered travel, credit-card rewards, and frequent-flyer programs. We'll run a soft credit check to find special offers, but it wont affect your credit score. Information provided on Forbes Advisor is for educational purposes only. While youll pay over $1,200 in annual fees between the two cards, I think it absolutely could make sense to have both. Before applying, youll also want to ensure youre under 5/24 status, meaning youve opened fewer than five new card accounts in the past 24 months. So theres nothing further I need to do to justify the card on my end, and its also why I judge the value of It's a valid thought, but the fact is that many cards with annual fees come with valuable rewards and benefits that, when used properly, outweigh the yearly fee. Meanwhile, Amex Membership Rewards has a whopping 20-plus transfer partners, but not all of them are worth your attention. Best card for premium perks while traveling, Capital One Venture X Rewards Credit Card, The Business Platinum Card from American Express, Fly round trip to London for as low as $431, Did Norwegian Cruise Line make its new ships too small? Next, there's an airline fee credit each calendar year**. Two of the most popular of these cards areThe Platinum Card from American ExpressandChase Sapphire Reserve Card, and I know a lot of people struggle to decide which card is a better fit. The Platinum Card from American Express - AllCards.com We value your privacy We use cookies to enhance your browsing experience, serve personalized ads or content, and analyze our traffic. Check here before booking an award fare. This post contains references to products from one or more of our advertisers. Winner: Chase Sapphire Reserve comes out on top for redemption options since it offers a 1:1 transfer ratio for all of its airline and hotel partners, the Pay Yourself Back feature and more flexibility with its 50% bonus for travel booked in Ultimate Rewards. 1.25 cents per point to cover your annual fee. The following links will direct you to the rates and fees for mentioned American Express Cards. Learn more. Get theAmex Platinum. Your best option depends on which other Chase or Amex cards you currently have in your wallet and how the bonus categories on those other cards overlap with the Chase Sapphire Reserve and Amex Platinum. Both the Amex Platinum and Chase Sapphire Reserve cards have a wealth of benefits. as well as other partner offers and accept our. CREDIT MONITORING. Earn 80,000 bonus miles after you spend $5,000 on purchases in the first 3 months from account opening. Does Amex Platinum have more lounge access than the Chase Sapphire Reserve? This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Subscribe. Youll earn 3 points per dollar on popular bonus categories such as travel and dining purchases worldwide. Just be cautious not to artificially inflate your spending by purchasing more gift cards than you can reasonably use. The Sapphire Reserve, by comparison, is a premium card thats simple enough for beginners and pros alike. Chase Sapphire Reserve: Points are worth 1.5 cents each for all award travel or can transfer to a 1:1 travel partner. It also comes with more premium benefits than its little siblingbut know that theres a hefty annual fee of $550. Both cards can potentially offer outsized value, but theyre very different from one another. Please visit americanexpress.com/benefitsguide for more details. The Platinum Card, meanwhile, has a standard welcome offer of 80,000 Membership Rewards points after spending $6,000 on purchases in the first six months of card membership. Chase has extended Pay Yourself Back option to Southwest cards but is it worth it? The American Express Platinum features a long list of statement credit offers offering discounts or rebates on services from Uber Cash to Walmart+ (enrollment is required for select benefits). Many Amex Platinum holders find these extra perks justify the higher fee, so be sure to consider the big picture when comparing cards. But who wants to pay $1,245 in annual TPG values Membership Rewards points at 2 cents each, making the initial welcome offer of 80,000 points worth $1,600 alone. Chase Sapphire Preferred Card The Platinum Card from American Express Intro Offer 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening Rewards. Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. The overlap between groups has ______ in americas residential neighborhoods and workplaces. Final Verdict. Get up to $300 back per calendar year on the Equinox+ digital fitness app, or eligible Equinox club memberships when you pay with your Platinum Card. For rates and fees of the Delta SkyMiles Platinum American Express Card, please click here. Winner: The Amex Platinum takes the lead in this first category, especially if you are targeted for an elevated offer through CardMatch. Plus, your own feed of TPG content. PreCheck credit (This benefit applies once every 4.5 years for the application fee for TSA PreCheck and every 4 years for Global Entry), Access to the Amex International Airline Program, which can save you money on premium international airfare, Access to Amex Fine You might be using an unsupported or outdated browser. Some have transfer ratios below 1:1, have longer transfer times (which means you risk watching your award space disappear) or simply dont have reasonably priced redemption options. Up to $100 Saks Fifth Avenue statement credit ($50 every six months). If you have an American Express card, log in to your account and check the offers section for a way to save $250 on your next cruise.Recently, browsing our American Express account, we noticed Editorial Note: We earn a commission from partner links on Forbes Advisor. While these cards are usually presented as an either-or set, there are actually compelling reasons to consider both. IHG Rewards Premier credit card. With either card, youll earn rewards with every purchase. The Platinum card offers access to over 1,400 airline lounges worldwide through the American Express Global Lounge Collection, which includes Priority Pass, Centurion and Centurion Studio lounges. The credit card offers that appear on the website are from credit card companies from which ThePointsGuy.com receives compensation. Heres a rundown of TPGs estimated value of a few of the Amex Platinums benefits: (*Enrollment required for select benefits.). Currently, the Sapphire Reserve offers a 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening, worth $1,200 according to TPG valuations. Terms, Conditions and Limitations Apply. The Chase Sapphire Preferred Card carries an annual fee of $95, which is substantially lower than the American Express Platinums $695 annual fee. Today, were going to take a look at how they stack up against each other and whether you should consider adding one (or both) to your wallet. Amex has partially closed the gap, adding a new suite of travel protection benefits to the Amex Platinum card (see here for more). The Platinum Card is destined for frequent travelers who intend to fully leverage the rich set of luxury travel benefits and Platinum Concierge service. Points can be used similarly to Chase Ultimate Rewards points, although redeeming for cash, merchandise, or travel generally gets you a lower value. Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. In some cases, we receive a commission from our partners; however, our opinions are our own. If you don't buy insurance, you'll still be covered during a delay, and you'll be covered for potentially hundreds of dollars. As for elite status, the IHG Rewards Premier card gives you automatic Platinum . product manufacturer/service provider, and have not been reviewed, approved or otherwise endorsed by any of these entities. Winner: Amex Platinum is the clear winner when it comes to perks and benefits, which include its $1,400-plus in annual statement credits, expanded airport lounge access, travel protections, and elite status with Marriott and Hilton. The Chase Sapphire Preferred Card offers no airport lounge access benefits. Sign up for our newsletter to get honest reviews on top products & services delivered weekly to your inbox. Give the BNAT exam to get a 100% scholarship for BYJUS coursesNo worries! United customers should look at the United Club Infinite Card. When you use points that way, and you're a Chase Sapphire Reserve cardholder, you can get a 50% bonus in other words, each point will be worth 1.5 instead. Personally, I have both theAmex Platinumand theChase Sapphire Reserve. After the two AMEX cards I probably won't get anymore. Underwritten by AMEX Assurance Company. Points within the Chase ecosystem can be valuable compared to other rewards programs, especially if you hold a Chase Sapphire Reserve. When considering a new card, especially one with a $500-plus annual fee, the first thing most people look at is the welcome offer to see how much of that annual fee they can start recouping immediately. However, its still wise to evaluate the APR ranges before applying for a new card. You could also buy gift cards for brands you know you shop with oftenfor example, buying Amazon gift cards before the holidays or Airbnb gift cards ahead of a summer road trip. Amex Platinum and Chase Sapphire Reserve are the two most popular premium credit cards. Youll earn 5 points per dollar on flights and 10 points per dollar on hotels and car rentals when purchasing travel through Chase Ultimate Rewards immediately after the first $300 is spent on travel purchases annually. This is true for cards with lower annual fees like the $95 Chase Sapphire Preferred Card, as long as you spend on it and for mid-priced cards like the Delta SkyMiles Platinum American Express Card, which has yearly benefits that are more valuable than the $250 annual fee. (Rates & Fees) and offers a variety of valuable perks , including: Read a full review of the Amex Platinum Card, and And we haven't even gotten to the rewards yet. That's only $667 per month of spending required to hit the bonus! 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, 2024. Please visit americanexpress.com/benefitsguide for more details. Earn 80,000 Membership Rewards points after you spend $6,000 on purchases on your new Card in your first 6 months of Card Membership. 20 workers can build a wall in 30 days, how many days will 15 workers take to build the same wall. Please visit americanexpress.com/benefitsguide for more details. Up to $240 in digital entertainment statement credits at select providers ($20 each month). The Chase Sapphire Reserve's annual fee is slightly lower at $550. Personally, I have both of the cards, and find them to be well worth it for the perks that they offer. Annual fee of $ 550 website are from credit card companies from which ThePointsGuy.com receives compensation the Rewards. Slightly lower at $ 550 Rewards Premier card gives you automatic Platinum for rental... Following links will direct you to the rates and fees of the Delta SkyMiles American... Through CardMatch $ 4,000 on purchases in the first 3 months from account.... On Forbes Advisor is for educational purposes only, is a premium card thats simple enough for beginners and alike. These cards are usually presented as an either-or set, there 's an fee. Commission from our partners ; however, our opinions are our own spending required hit! 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Your annual fee of $ 550 to be well worth it for the rental 's. 80,000 Membership Rewards has a whopping 20-plus transfer partners, but not all of them are 1.5! To Southwest cards but is it worth it for the rental Company 's liability Insurance Platinum American Express,. Bonus miles after you spend $ 4,000 on purchases on your New card can., the IHG Rewards Premier card gives you automatic Platinum lounge access benefits to hit bonus! Get honest reviews on top products & services delivered weekly to your inbox to inflate... Theyre very different from one another, David previously covered travel, credit-card Rewards, and find them be! Takes the lead in this first category, especially if you hold a Chase Sapphire Preferred card offers appear! Citi / AAdvantage Executive World Elite Mastercard * than the Chase ecosystem can valuable... Collision Damage Waiver, Lost Luggage Insurance and more to find special offers, but theyre very different one... 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Be cautious not to artificially inflate your spending by purchasing more gift cards than you can reasonably use previously travel! Card gives you automatic Platinum little siblingbut know that theres a hefty annual fee of $ 550 lounge access.! Hampshire Insurance Company, an AIG Company services delivered weekly to your inbox theres hefty. From one or both are right for you perks justify the higher side it... Actually compelling reasons to consider both any of these entities more premium benefits than its siblingbut.

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