by Daniel | Last Updated December 30th, 2023
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So the top 3 premium credit cards that are available in 2024 are the American Express Platinum card, The Chase Sapphire Reserve Card and the Capital One Venture X card.
And in this article I’m going to go over all of the benefits available with each of these cards and then provide you with my opinion on each card at the end.
American Express Platinum Card
So let’s start with American Express Platinum card which is a card that I have personally had for the past 7 years.
Now it is actually possible to choose between 3 different versions of this card.
The Classic card, the Kehinde Wiley design or the Julie Mehretu design.
I initially had the Classic card which you can see here for the first few years of card ownership, and this is because it was the only choice available when I first got this card.
Now I think it looks pretty nice, and It is quite a heavy card coming in at 18.5 grams, which is also the heaviest card out of the 3 cards in this article.
Then a couple of years ago I decided to change my card to the Kehinde Wiley design just for something different, and in my opinion I think it looks quite nice, and best of all its free to change the design of your card.
So the first thing you should know about this card is that it has an annual fee of $695, which is quite expensive, it’s actually the most expensive card out of the 3 cards in this review.
But it does offer a ton of benefits and perks that easily cover the cost of this annual fee, assuming you actually take advantage of them.
And this is something you really should take into account when choosing any credit card.
If you can find enough value at bare minimum to cover the cost of the annual fee of a credit card, then at least its worth considering.
And whilst it’s nice to have a fancy looking credit card, if you don’t take advantage of most of the benefits on offers, it can just end up being a waste of your money.
Sign-up Bonus
So at the time of making this video, the sign-up bonus for this card is currently 150,000 Membership Rewards Points if you manage to spend at least $8,000 on purchases within the first 6 months off opening the account.
This is probably the highest signup bonus you will see from the Amex Platinum card.
Generally it ranges from around 80,000 – 120,000 Membership Reward points as a sign up bonus.
Now with Membership Rewards Points being worth at least 1 cent per point (if you redeem them correctly), this values this sign up bonus at $1,500, which is pretty good.
But just know that you can receive quite a bit more value than this when you transfer your Membership Rewards points to one of the 16 different travel partners.
And I have an article here explaining how you can do this.
Now along with this sign-up bonus, there are a whole list of different benefits on offer worth over $1,500 each year, which is great IF you actually make use of the benefits.
And a lot of the benefits are travel related, so it’s perfect if you do like to travel throughout the year, which is what I do.
$200 Hotel Credit
One specific benefits I always take advantage of each year with this card is the $200 Hotel Credit which is available when you book a minimum of 2 consecutive nights at a hotel that is booked through Amextravel.com
Now along with this, if you make a qualifying booking of two night or more through The Hotel Collection you will also receive a $100 credit that can be used at the hotel for things such as dining, spa, and resort activities.
So thats automatically $300 in value just from this one benefit.
And if you book a hotel through the Fine Hotels + Resorts program you will receive a breakfast credit for two worth up to $60.
$200 Airline Fee Credit
Now another benefit that I also use each year is the $200 Airline Fee Credit.
And to make use of this you will first need to select one airline out of 8 eligible options that are provided to you by American Express.
Once you have done this you will then have access to a $200 credit each year for your selected airline, and this can be used for incidental fees that are charged by the airline such as inflight food and beverages or luggage fees.
So my selected airline for this benefit is United Airlines, and I actually use this credit to gain access into the United Club.
And seeing that entry in to the United club costs $59 per person, I can get access 3 times each year totally for free.
This is particularly nice for me when I do travel overseas, as most United Clubs are generally quite nice and provide you with shower facilities.
Global Lounge Collection
Then one of the best benefits, at least in my option is access to The Global Lounge Collection.
This provides you with access to a large variety of Airport lounges from all over the world which includes:
- The Centurion Lounge
- Delta Sky Club
- Plaza Premium Loung
- The Lufthansa Lounge
Then along with this you also receive a complimentary Priority Pass Select Membership that is worth $469 each year.
This provides you with access to over 1,500 different airport lounge from all over the world, and if you travel a lot like me, it can really make traveling a lot more enjoyable.
And the learn more about Priority Pass, make sure to check out my Beginners Guide to Priority Pass.
$200 Uber Credit
Another benefit that I use throughout the year is the $200 Uber credit, and this is also very easy you use.
Basically you will receive a $15 credit each month (Plus a bonus $20 credit in December) that can be used for either Uber rides or Uber eats.
To se this benefit, all you need to do is set up your Amex Platinum card as a payment method through your Uber account and you will receive a credit each month.
Unfortunately the credits don’t carry over each month so it’s best to make use of the credits when you have them.
Now just these benefits that I’ve talked about that I use each year have a value of over $1,000, which totaly covers the annual fee of the card for me and leaves me with over $370 in value, and best of all there is a ton of other benefits available.
Chase Sapphire Reserve Card
Now the second card in this review and a card that I have had since 2016 is the Chase Sapphire Reserve card.
This is actually the lightest of the three cards in this review coming in at just 13 grams, but that doesn’t mean not a great card!
So this card has a more reasonable annual fee of $550, which is $145 less than the Amex Platinum card, and although it doesn’t come with as many benefits as the Platinum card, it still offers a ton of great perks.
And in my opinion, it is actually easier to make use of the benefits on this card than the Amex Platinum card.
One of the easiest benefits to take advantage of is the $300 Annual Travel credit, I generally use this credit within the first month I receive it each year as it covers quite a large variety of categories that include:
- Airlines
- Hotels
- Buses
- Taxis
- Parking lots and garages
This brings the annual fee down to a more reasonable $250.
Sign-up Bonus
So at the time of making this video the sign-up bonus available with the Chase Sapphire Reserve card is 60,000 bonus points if you can manage to spend $4,000 on purchases within the first months of opening the account.
Now if you redeem these points through Chase Ultimate Rewards they are worth 1.5 cents per point, which provides you with a value of $900.
But if you transfer the points to one of the 14 different travel partners, it is possible to receive a lot more value than this.
I’ve seen points value of over 4 cents per point when transferring points to the World Of Hyatt program, which would value this sign up bonus at over $2,400!
Earn 60,000 bonus points with Chase Sapphire Reserve. I can be rewarded, learn more.
Priority Pass Membership
Another benefit that I really like with this card is the Priority Pass Select Membership, and the reason for this is that it actually includes more benefits than most of the other Priority Pass Select memberships that are offered from different credit card providers.
These extra benefits include:
- A restaurant credit of up to $60 for you and a guest at select airports around the world.
- A credit of up to $44 that can be used at a Be Relax Spa
These benefits are not actually included with the Priority Pass offered from the Amex Platinum card or the Venture X card, and although this not a big deal, it is nice to have these benefits available.
So just these two benefits alone more than cover the cost of the annual fee, assuming you make use of them.
And finally, another benefit that can be quite useful that is similar to what the Amex Platinum card offers is the ability to receive a $100 property credit when you make a hotel booking through the Luxury Hotel & Resort Collection.
Capital One Venture X Card
Now the third card in this review and the most affordable card is the Capital One Venture X Card and this card sits right in the middle of the three cards in this review with a weight of 17 grams.
And in my option, this card is the easiest card to justify paying the annual fee of $395.
Seeing that you get a $300 travel credit each year for bookings that are made through Capital One Travel and then a 10,000 mile anniversary bonus each year worth $100, you are literally clear of the annual fee and left with an additional $5 to do what you want with.
Sign-up Bonus
So currently it is possible to earn a 75,000 miles sign-up bonus if you can manage to spend $4,000 on the card within the first 3 months of opening the account.
With points being valued at 1 cent per point, that is a value of $750.
Priority Pass Membership
So just like the other two cards you also get a Priority Pass Select Membership that is worth $469.
But like I mentioned before it doesn’t come with the same benefits that come with the Chase Sapphire Reserve Cards Priority Pass.
The card also provides access to Capital One Lounges for you and one guest free of charge which is nice, but seeing that there are only 3 lounges at the time of making this video, it is only a benefit that can be used if you happen to be traveling through either Dallas Fort-Worth Airport, Denver International or Washington Dulles.
Global Entry or TSA PreCheck Credit
As with all three cards in this review you also get a $100 credit for either Global Entry or TSA PreCheck.
And whilst this is not a bad thing, so many people seem to have the benefit now, it doesn’t really make that much difference in terms of saving time at the airport.
Premier Collection
Now again, very similar to what both of the other two cards offer, when you make a booking through Capital One Travel Premier Collection you can receive a $100 credit that can be used at the hotel during your stay and daily breakfast for 2.
Earning Points
Now when it comes to earning points with these cards they all offer the ability to earn a decent amount of points from a variety of different categories.
And if you take advantage of the high points earning potential categories, you can end up earning a considerable amount of points, that can be really quite valuable.
Especially if you transfer the points to one of the travel partners that are associated with the credit card.
American Express Platinum
Now interestingly enough, the Amex Platinum card, which is the most expensive and exclusive card of the 3 cards actually doesn’t offer the best points earning potential.
So it is possible to earn 5x points on any flights that are booked either directly with the airline or through American Express Travel.
But this is limited to a total spend of $500,000 each year, or the equivalent of 2.5 Million Membership Reward Points.
Then any hotels that are booked through AmexTravel.com will also receive 5x points.All other purchases that are made on the card will earn you 1 point per dollar spent.
So clearly travel purchases that are made on the Amex Platinum card will earn you the the most points.
Chase Sapphire Reserve Card
Now with the Chase Sapphire Reserve card you actually get the most options for earning points out of the 3 cards in this review, which means if you actually take advantage of all of the high points earning potential on offer, you will earn the most value back out of all 3 cards.
So first up, it is possible to earn 10x points on hotels and car rentals that are made through Chase Travel.
But it’s important to know that this does not include bookings that are made at The Luxury Hotel & Resort Collection.
It is also possible to earn 10x points on Chase Dining for purchases made through Chase Ultimate Rewards.
And along with this it is possible to earn 10x points on Lyft rides, and to receive these points, all you need to do is register your Chase card to your Lyft account.
For flights that are purchased through Chase Ultimate Rewards it is possible to earn 5x points.
Then the following categories will earn 3x points:
- Dining at restaurants, take out and delivery
- And then all travel worldwide.
And finally, all other purchases made on the card will earn 1 point per dollar spent.
Capital One Venture X Card
Finally, with the Capital One Venture X Card there are 3 different options for earning miles.
Starting at the top is the ability to earn 10x miles for purchases made through Capital One Travel on hotels & rental cars.
Then you can earn 5x miles for flights that are booked through Capital One Travel.
And then all other purchases that are made on the card will earn you 2x miles per dollar spent.
So if you look at the very base rate of earning miles or points the Venture X Card comes out on top as it offers twice the earning potential on all other purchases than both the Amex Platinum card and the Chase Sapphire Reserve card.
Insurance Coverage
So the last thing to take a look at is the insurance coverage that is offered with each of these card.
And this is quite an important factor to consider, especially if you travel a lot, as it can potentially save you a lot of money and hassle if you ever actually need to use it.
So all cards offer Auto Rental coverage of up to $75,000 in the event you damage or lose something from your car.
But just note that it doesn’t cover ride sharing platforms like Turo, I learnt this the hard way earlier this year and had to pay out of pocket for a minor scratch that happened to a car I rented on Turo.
All three cards offer Trip Delay insurance that covers up to $500 per trip if it delayed for more than 6 hours.
Both the Amex Platinum card and Chase Sapphire Preferred card offer Trip Cancellation that provides coverage of up to $10,000 per person and $20,000 per card per year.
Wheres the Capital One Venture X card only offers up to $2,000 coverage per person.
Both the Venture X card and the Amex Platinum card offer Cell phone protection of up to $800, with 2 claims available each year.
Unfortunately the Chase Sapphire Reserve card doesn’t offer cell phone protection.
All three card offer a similar form of Luggage protection that covers up to $3,000 per passenger.
Again all three card offer a from of Purchase Protection of up to $10,000 per claim and a total of $50,000 per year.
With both the Amex Platinum card and the Venture X card you get 90 days of coverage, whereas with the Reserve card you get 120 days of coverage.
All three cards offer Return Protection.
With both Amex Platinum card and Venture X card both offering 90 days of coverage, up to $300 per item, and a total of $1,000 per card per year.
Whereas the Chase Sapphire Reserve card has the same 90 days of coverage but allows for up to $500 per item and the same $1,000 per year.
Then finally all three cards offer an Extended Warranty on 1 extra year.
With both the Reserve card and Venture X card this is available on warranties that are 3 years or less.
And with the Amex Platinum card it is available on warranties that are 5 years or less.
Final Thoughts
So that covers all the ins out of all three of these cards and as you can see they all offer a ton of value.
When it comes to choosing the best card it really depends on what card is the best card for the customer.
This comes down to where you spend your money and what benefits you will actually take advantage of.
All three cards can be justified if you make use of all of the benefits they offer, but if you don’t use any of the benefits, it is likely that you will be paying more than you need for a fancy credit card.
Now as I mentioned earlier in the video, I have both the Amex Platinum card and the Chase Sapphire Reserve card.
And I really like both of them, each card provides me with a ton which makes paying the annual fee a no brainer.
I don’t currently have the Venture X card as I don’t see a need for it in my situation, but I think that it is a great card that presents a lot of value.
Now if you would like to learn more about Priority Pass and what it has to offer, make sure to check out my Beginners Guide to Priority Pass here.