Amex Platinum vs. Chase Sapphire Reserve (Which is better?)

by Daniel | Last Updated June 25th, 2021

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So today I am going to I’m going to compare the Amex Platinum card versus the Chase Sapphire Reserve card.
I’ll go over what they offer in terms of a sign-up bonus, How much they cost each year, how you can earn points when using the cards and then I’ll choose which card is best in terms of rewards and value.

https://www.youtube.com/watch?v=4r0Aw6VBwVM

Annual Fee & Sign-up Bonus

So first up let’s start with the annual fee and signup bonus of each card.

To begin with, the Chase Sapphire Reserve card has an annual fee of $550 and for new card members, and after spending $4,000 within the first 3 months of opening the account you can earn 60,000 bonus points that are worth at least $900.

The Platinum Amex card also has an annual fee of $550 and for new card members, it currently offers 75,000 reward points after you spend $5,000 within the first 6 months of opening the account.
And these points are worth at least $750.

So in terms of value per dollar spent, the Chase Sapphire Reserve card offers a little more based on just the sign-up bonus, it will also cost you $1,000 less to actually receive the bonus points.

Earning Points

So next up let’s look at how many points you can earn with each card.

Platinum Amex 

The Platinum Amex card is currently offering the ability to earn 10x points on up to $15,000 within the first 6 months of card membership for purchases made at both US gas stations and US supermarkets.
(Assuming you were able to spend this much at these locations in the first 6 months, that would equate to 150,000 membership rewards points that are worth at least $1,500.)
Then from there, you will earn 5x points on pre-paid hotels that are booked through Amex Travel.
And 5x points on flights that are booked either directly with airlines or through Amex Travel up to a total of $500,000 per calendar year.
All other purchases will earn 1x points per dollar spent.

Chase Sapphire Reserve 

The Chase Sapphire Reserve card is also offering 10x points on all Lyft rides through March 2022.
Then from here you will earn 3x points on all dining and travel worldwide.
And anything else will earn 1 point per dollar spent.

So in terms of earning points, the Chase Sapphire Reserve card offers a bit more variety in terms of where you can earn points due to the fact that dining and travel are quite broadly defined by Chase, so you have more chance of earning points than with Amex in that sense as Amex is relatively strict with how you can earn points.

But due to the fact that the Platinum Amex now offers 10x points for new cardholders at both US gas stations and US supermarkets within the first 6 months, it takes the lead for this section, but only for the first 6 months (in the following year of card usage the Chase Sapphire Reserve card offers a little bit more).

Benefits and User Perks 

So now let’s have a look at some of the additional perks and benefits that each card offers you throughout the year.

Annual Statement Credits and partner benefits

Let’s start with the Platinum Amex card.

To begin with, it offers up to $200 each year in Uber credit that can be used on either Uber rides or Uber Eats.
This credit is spread out over the year with $15 per month available and then a bonus of $20 in December (which makes for a total of $35).
You will also get a 12 month complimentary Uber Eats pass which is valued at up to $119, and this gives you free delivery and 5% off orders that are over $15 at eligible restaurants, you will also get 10% off your first 3 eligible rides each month.

You will also get up to a $200 Airline fee credit per calendar year that can be used towards incidental airline fees with a qualifying airline (and just note that the airline can only be changed one time per year.)

Next up you will receive up to $100 in statement credit to spend at Saks of Fifth Avenue each year, and this is broken up into $50 every 6 months.

American Express also has a special offer for Platinum cardholders called “The Hotel Collection”
So if you make a booking through Amex’s ‘The Hotel Collection you will receive a $100 onsite credit to spend at your hotel of choice on any qualifying dining, spa, or resort activities. 
Along with this, you will receive a free room upgrade when you check in assuming it is available.

You will also receive a credit that can be used on either Global Entry or TSA Pre Check.
And this will be either $100 once every 4 years for Global Entry or it will be $85 for TSA PreCheck once every 4.5 years.

As for the Chase Sapphire Reserve card, you will get $300 in travel credit each year and for the rest of 2021 gas station and grocery store purchases will also go towards this travel credit.

Next up you will receive $60 in statement credits from DoorDash.
Along with this you also get a DashPass valued at $9.99 per month (or $119.99 per year) which gives you complimentary DoorDash delivery for orders over $12 and is valid for one year.

You will also get a complimentary Lyft Membership that gives you Lyft Pink status that is valued $199.
And this includes a 15% discount off every car ride.

There is a $120 credit back for Peloton Digital or All-Access Memberships until the end of 2021.

And like the Platinum Amex it also offers a credit of up to $100 once every 4 years for an application to either Global Entry or TSA Pre Check.

So calculating just these benefits the Platinum Amex card offers up to $819.00 in cashback benefits which is pretty good!
But the Chase Sapphire Reserve card offers slightly more value with $898.99 in cashback benefits.
Both of these offers are really good and only really valid if you take full advantage of every offer each card has.

Longe access

The Platinum Amex offers a great variety of different airport lounges.
First up you will have access to Centurion Lounge which is just for Amex Platinum and Centurion cardholders, you will also have access to Delta Sky Clubs when flying on same day Delta Flights.
And then you will also receive a free Priority Pass membership which has over 1,300 lounges in over 40 countries. (But unlike the Chase Sapphire Reserve Card it does not include select airport restaurants)

As for the Chase Sapphire Reserve card, you will receive a free Priority Pass membership which has access to over 1,300 lounges in over 40 countries.
Along with this, you will also be able to get a credit of $28-$30 to a selection of airport restaurants from all around the world if you don’t want to use one of the lounges.
This can prove to be quite a good money saver if you travel constantly.

So in terms of Lounges access the Amex Platinum card has more options than the Chase Sapphire Reserve, So if you travel extensively each year it can really make a difference, as its generally nice to be able to use a good lounge where you can get a decent bite to eat and somewhere to relax before your flight.

Travel Insurance

So let’s look at what the Amex Platinum card offers.

First of all, you get Trip Delay Insurance which offers up to $500 per trip and can be used twice within a 12 month period.
You also get Trip Cancellation insurance that covers up to $10,000 per trip and a total of $20,000 per card per 12 month period.
And finally, you get secondary car rental insurance.

Now let’s look at what the Chase Sapphire Reserve card offers.

Just like the Platinum Amex you also get $500 Trip Delay Insurance.
You also get Trip Cancellation insurance that covers $10,000 per person and $20,000 per trip.
Another benefit that you get that the Platinum Amex Card doesn’t offer is Lost Luggage Reimbursement which covers up to $3,000 per passenger (you or an immediate family member) for any checked or carry-on luggage that is damaged or lost by the airline.

You will also be covered for emergency evacuation & transport in the event that you or an immediate family member become sick or injured and you will be covered for medical services and transportation up to $100,000.
And finally, you also get primary car rental insurance that covers reimbursement of up to $75,000 for any theft or collision damage caused to the rental car.

So for this section, the Chase Sapphire Reserve card offers quite a bit more in terms of Travel insurance.

Ok so now let go back over all of the sections that I’ve covered and see what card offers the most value.

So first up we covered the annual fee and sign up bonus for each card, and for this, the Chase Sapphire Reserve card just beat out the Amex card, it has the same annual fee but you can get the bonus points by spending $1,000 less and the points you receive are actually worth $150 more.

Next up I went over how each card can earn you points and for this section, the Platinum Amex beat out the Chase Sapphire Reserve card, mainly due to the fact that it offers new cardholders 10x points for purchases made at both US gas stations and US supermarkets within the first 6 months.

In the next section, I went over some of the benefits and user perks that each card offers and for this section, the Chase Sapphire Reserve card just edged out the Platinum card with $898.99 worth of cashback benefits versus $819.00 from the Platinum Amex.

Next up I covered the lounge access you get with each card and for this section, the Platinum Amex Card won as it offers quite a bit more variety in terms of lounge access.

And lastly, I went over the general travel insurance that each card offers, and for this section, the Chase Sapphire Reserve card offers quite a bit more in terms of overall travel insurance options.

So all in all the Chase Sapphire Reserve card comes out on top winning 3 points to 2. 
Now that doesn’t mean that the Platinum Amex is not a good card, it still has some amazing benefits and offers that make it worth considering.
And to be honest they are so similarly matched that you can’t really go wrong with either card.
I actually have both cards and find that they both serve a purpose depending on the situation. 

If you want to learn more about either card you can click here for the Chase Sapphire Reserve card or you can click here for the Amex Platinum card.

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