The Sapphire Reserve, by comparison, is a premium card thats simple enough for beginners and pros alike. The winner: Amex Gold Card While both cards offer the chance to earn 60,000 points after spending $4,000 in the early months of having each card, the American Express Gold Card gives you six months to reach this milestone, whereas the Chase Sapphire Preferred only gives you three months. Improve earnings, maximize rewards and track progress toward dream trips. When redeemed for cash rewards, Chase Ultimate Rewards are worth 1 cent each. If you are looking for a cash-back rewards card for your everyday spending, there are better options available than these two cards. He primarily covers airlines and air travel. These are provided as guidelines only and approval is not guaranteed. In Section 3.4, new literature is explored and the assessment of impacts and projected risks is updated for a large number of natural and human systems. The best option is transferring to an airline. It also has an equally broad 3 points per dollar spent on dining that the Platinum cant match. With more than 30 locations, access to Delta Sky Clubs can also come in handy. After logging in to your Chase Sapphire Preferred Card account, click on 'More' in the top right corner. A flashy metal card design combined with a lucrative rewards rate and flexible redemption options makes it easy to see its long-term value. Keep in mind you may still want to opt for the rental company's liability insurance. Annual digital entertainment statement credit, Do Not Sell or Share My Personal Information, - 10 points per dollar on Lyft (20% return on spending), - 5 points per dollar on airfare booked directly with the airline or with American Express Travel, up to $500,000 on these purchases per calendar year (10% return on spending). The foreign transaction fee on both cards is 0%. Compare the cost in points or miles to cash, and see which option is best. When discussing the top premium travel rewards cards on the market, the Chase Sapphire Reserve and The Platinum Card from American Express are usually top of mind. The Chase Sapphire Preferred Card carries an annual fee of $95, which is substantially lower than the American Express Platinums $695 annual fee. While youll pay over $1,200 in annual fees between the two cards, I think it absolutely could make sense to have both. Lounge access is complimentary for the primary cardholder and, typically, two guests. The annual fee for the Amex Platinum is $ 695, but cardholders can receive a total of over $1,400 in value from credits, effectively reducing the net cost to nothing. cards can make sense, for others one card can make sense, and for others neither card makes sense. No, those numbers are not typos. Commissions do not affect our editors' opinions or evaluations. $50 annual hotel credit that can be used for any booking. As a result, you're typically much better off with the transfer options. See our Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. Editorial disclaimer: Opinions expressed here are the authors alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. United rolls out free fleetwide Wi-Fi for select flyers. Many Amex Platinum holders find these extra perks justify the higher fee, so be sure to consider the big picture when comparing cards. Please visit americanexpress.com/benefitsguide for more details. 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. Terms apply to the offers listed on this page. With the Chase Sapphire Reserve, you can redeem points for travel through Chase's own travel portal at a rate of 1.5 cents per point. If you are a frequent traveler, the Chase Sapphire Preferred is one of the best travel credit cards of its class. Eligibility and Benefit level varies by Card. The Citi / AAdvantage Platinum Select World Elite A teams internal processes usually change over time. We'd love to hear from you, please enter your comments. Editor's note: This is a recurring post, regularly updated with new information and card details. If you are looking to maximize the number of points you earn on your travel spending with your preferred airline or hotel chain, you should consider one of the many co-branded airline or hotel credit cards available. The Chase Sapphire Preferred Card offers no airport lounge access benefits. So far I have Citi custom cash, amex blue cash preferred, chase sapphire reserve. And we haven't even gotten to the rewards yet. Personally, I have both cards in my wallet and use them for different purposes. Points are worth 1 cent each when redeemed as cash back. Earn 5x on travel purchased through Chase Ultimate Rewards, 3x on dining and 2x on all other travel purchases, plus, Earn 5 Membership Rewards points per dollar on prepaid hotels booked with American Express Travel; earn 5 Membership Rewards per. $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. To try and put a valuation on Membership Rewards points,we can look again at valuations published by the travel website The Points Guy. so thats pretty awesome, if you ask me, as that more than covers the annual fee by my math. If anyone on our team wouldnt recommend it to a friend or a family member, we wouldnt recommend it on The Points Guy either. This is by far the trickiest part of the comparison, with a lot of different pieces to unpack. 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. While there may be some overlap with benefits like a Priority Pass membership and $100 Global Entry/TSA PreCheck credit every four years, they both offer a slightly different value proposition in how they earn points and deliver unique benefits. Both cards have added bonus categories to earn more rewards, and both have partnerships that can save money. Thats significantly lower than the Amex Platinum offer, though the spending requirement to earn the bonus is also lower. Furthermore, I earn lots of bonus points and get great travel protection with the card. Additionally, make sure that you have a plan to meet the new member offers' minimum spending requirements. Ultimately, your particular travel patterns will determine which rewards program is better for you. 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.In If you don't buy insurance, you'll still be covered during a delay, and you'll be covered for potentially hundreds of dollars. Before joining Business Insider, David was a freelance writer and editor before that, he worked in public affairs. Commissions do not affect our editors opinions or evaluations. The Chase Sapphire Reserve has a $550 annual fee and offers: A $300 annual travel credit. That means that at the end of your first year, you'll have gotten back the entire fee, plus an extra $50. David is a Senior Transportation Reporter for Business Insider. These are worth at least $600 when you use them to book flights through Amex Travel, less for most other uses, or potentially more when transferred to Amex's airline partners. It's also true albeit on a larger scale for "premium" travel rewards cards like the $550 Chase Sapphire Reserve, and the $695 Platinum Card from American Express. (Photo by Wyatt Smith/The Points Guy) TPG Reader Ryan Aguiar already has the Chase Sapphire Reserve, so he knows the card packs a punch with rewards and 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.It also features an easy-to-use $300 travel . Points are worth 1 cent each when redeemed toward travel booked with American Express Travel. Underwritten by AMEX Assurance Company. We'll run a soft credit check to find special offers, but it wont affect your credit score. Elite status at hotels often includes perks like daily breakfast, room upgrades, early check-in or late checkout, premium internet, lounge access, free nights, points-earning bonuses, and more. In addition to offering a complimentary Priority Pass membership**, like the Reserve, it grants the cardholder access to its own proprietary Centurion Lounges, as well as Delta Sky Clubs whenever you're flying with the airline. Underwritten by New Hampshire Insurance Company, an AIG Company. Plus, enjoy premium rental car status with Avis, Hertz and National. After the two AMEX cards I probably won't get anymore. $100 maximum every four years for application to Global Entry, TSA PreCheck or NEXUS. Similarly, if your baggage is delayed, things like clothing and toiletries are covered up to a certain amount until your bag is delivered. The Chase Sapphire Reserve introductory bonus is not as generous. 1.25 cents per point for purchases at gas stations and grocery stores. If you can take advantage of all the annual statement credits and luxury perks, these cards can actually complement each other well. 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. Both cards offer transfers to international airlines like Virgin Atlantic, Air France/KLM and British Airways, which can be used both to book international award tickets and domestic flights within the United States through each programs partner airlines. Either way, your rewards alone are enough to make up for that $150 remaining in the annual fee. 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. Earn 5x on travel purchased through Chase Ultimate Rewards, 3x on dining and 2x on all other travel purchases, plus more. Terms, Conditions and Limitations Apply. Earn 3 points per dollar on other travel and dining and 1 point per dollar spent on all other purchases. Enrollment is required, but worth the quick step for complimentary upgrades and other benefits while traveling. Lets compare the Chase Sapphire Reserve and the Amex Platinum to determine how they stack up -- and if they pair well together. If youre anything like me, the math may make sense on both cards. You can get up to $200 a year in Uber credits each card member year. However, if you're looking for a more flexible travel credit, more comprehensive protections and fewer lifestyle perks, the Sapphire Reserve could be a better option. Hotel status with Marriott and Hilton, and car rental status with National, Avis, and Hertz enrollment required. Editors note: This article is part of a column to answer your toughest credit card questions. That makes the welcome offer worth around$1,140. Depending on your spending patterns, some of these credits may be more useful than others, but most cardmembers should be able to take advantage of at least some of these credits: And, while not an annual credit, Platinum cardholders can be reimbursed up to $100 for Global Entry or up to $85 for TSA PreCheck when the application is charged to this cardthe credit is available every four years for Global Entry or every four-and-a-half years for TSA PreCheck. 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. Ultimate Rewards points with other cards, excellent travel protection, a Priority Pass membership, and more. On the airline side of things, popular redemption options include United MileagePlus, Southwest Rapid Rewards, British Airways Avios, Virgin Atlantic Flying Club and Flying Blue (Air France-KLM) though the last three also partner with Amex Membership Rewards. Access your favorite topics in a personalized feed while you're on the go. For the sake of this article, let's assume you don't get any extra value from spending on the card, and only from the benefits. Eligibility and Benefit level varies by Card. Lets say youre spending $5,000 on both airfare and dining combined each year, $1,000 on hotels or cruises and $10,000 on non-bonus spending. Points transfer to participating partner programs, many at a 1:1 ratio. Unless you're traveling somewhat regularly and utilizing the full lineup of perks and credits, 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). Unfortunately, covering past charges yields just 0.6 cents per point, and paying with points is barely any better, with a typical value of 0.7 cents per point. Terms apply to offers listed on this page. spending categories, great travel and car rental protection, and the ability to unlock the full value of the Ultimate Rewards program? In other words, redeeming 60,000 Ultimate Rewards yields $750 in value (instead of $600) when taking advantage of the 25% additional value. To start, the annual fees are a little bit misleading. Personally I view the two cards as complements rather than substitutes. However, if you opt to use your points directly through American Express Travel, you won't get nearly the value you do through Chase. It's automatically applied to your first $300 in travel and transit spending, covering those purchases (or, if one single purchase is larger than $300, covering the first $300 of it). 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. When hes not dissecting credit card products, Juan is maximizing his points and miles for premium travel with his family. Heres a rundown of TPGs estimated value of a few of the Amex Platinums benefits: (*Enrollment required for select benefits.). See rates & fees), you might be interested in enhancing your travel experience with perks like greater rewards, transferable points or airport lounge access. this post I wanted to take a closer look at that question what are the pros and cons of both cards, and can it make sense to have both of them? Email us at reviews@businessinsider.com. 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. The former built the market for premium rewards cards decades ago, while the latter is responsible for growing its mass appeal. The Platinum Card's $695 annual fee is exceptionally high -- even for a premium travel card. 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. Best Overall: Chase Sapphire Preferred Card. I know that typically these two car are viewed as "rival" car. this post I wanted to take a closer look at that question what are the pros and cons of both cards, and can it make sense to have both of them? 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. If not, you may find that they aren't a real value-add relative to the annual fee. Give the BNAT exam to get a 100% scholarship for BYJUS coursesNo worries! Past performance is not indicative of future results. Please view our advertising policy page for more information. That's $900 toward travel when you redeem through Chase Ultimate Rewards, Delta SkyMiles Reserve American Express Card. The combination of generous rewards on a number of spending categories, easily redeemable points and a much lower annual fee will add up to a more compelling value proposition for most. 1.5 cents per point for select charitable donations through Dec. 31, 2023. No single credit card is the best option for every family, every purchase or every budget. Terms, Conditions and Limitations Apply. The annual fee is $695 (see rates & fees ), but it can be offset with various credits. Since Amex only allows you to earn a welcome offer on each of its cards once per lifetime, it might be tempting to hold off on applying for the Amex Platinum in hopes that you may be targeted through CardMatch for a higher bonus at some point in the future. Terms, Conditions and Limitations Apply. The Platinum Card is destined for frequent travelers who intend to fully leverage the rich set of luxury travel benefits and Platinum Concierge service. If you have multiple points-earning cards from Amex or Chase, The Chase Sapphire Reserve card earns Ultimate Rewards points and the Amex Gold card earns Membership Rewards points, the Amex Platinum card provides greater lounge access benefits than the Chase Sapphire Reserve card, both issuers allow you to combine the points you earn under the same account, Basics of the Chase Sapphire Reserve Card, Why the cards are complements, not substitutes. The same can be said of certain perks on the Amex Platinum including statement credits with Saks Fifth Avenue, Clear and select digital entertainment providers. The Chase Sapphire Reserve's annual fee is slightly lower at $550. 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. Secondary car rental coverage. Earn 90,000 bonus miles after you spend $6,000 in purchases on your new Card in your first 6 months. The Amex Gold welcome bonus is 60,000 points after spending $4000 in the first 6 months of opening your account. Many of these cards are also available with no annual fee. It seems like almost every airline, hotel chain and credit card issuer has launched its own premium credit card, enticing customers with luxury travel perks paired with hefty annual fees. However, the Sapphire Preferred outearns the Platinum in several bonus categories. Eligibility and Benefit level varies by Card. Another major cruise line hikes drinks package costs sharply but there's a twist, Get more from your points with these transfer bonuses. Opinions expressed here are the authors alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. By clicking "Accept All", you consent to our use of cookies. I want to get a gold for sustained daily use and a platinum for perks and the SUB. Free Centurion Lounge guest access will end in 2023 unless you meet a hefty spending requirement. Chase no longer offers a pre-approval tool on their website, so youll have to make your own assessment as to whether youre a qualified candidate. Underwritten by New Hampshire Insurance Company, an AIG Company. Both cards can potentially offer outsized value, but theyre very different from one another. Check here before booking an award fare. Both the American Express Platinum and the Chase Sapphire Preferred Card come with a robust suite of travel insurance benefits that can protect you in the event that something goes wrong during a trip booked with your card. Both cards also offer a travel assistance service which can make medical and legal referrals, but the costs of services provided are the responsibility of the cardholder. Plus, your own feed of TPG content. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc. 2023 Forbes Media LLC. American Express has expanded The Centurion Network to include 40+ Centurion Lounge and Studio locations worldwide. Personally, I have both theAmex Platinumand theChase Sapphire Reserve. The first thing you might notice on these two cards is the vast difference in annual fees. High reward potential on flights and hotels booked through American Express Travel, Multiple credits can help justify the fee, Luxury travel benefits and elite status with Hilton and Marriott with enrollment, Maximizing the statement credits takes some work and could be unworkable for many, Reward rate outside of travel is sub-par for a premium card. However, since earning the welcome offer, I don't often use my Platinum Card for everyday spending unless I need to in order to to get a certain benefit or unlock an Amex Offer. THE GREAT GATSBYChapter 7: Heat SymbolismWeather symbolism? Earn 60,000 points after you spend $4,000 on purchases in the first 3 months. These include: The Platinum Card from American Express With its $695 annual fee (see rates and fees), the Amex Platinum is currently offering new applicants 80,000 Membership Rewards points after they spend $6,000 on purchases in the first six months of cardmembership. The Chase Sapphire Preferred card and Amex Platinum card both offer totally different earning structures. 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. Terms, Conditions and Limitations Apply. With that in mind, what do I recommend for people who ask me which card they should get? Normally, you would need to stay for 40-50 nights to earn that level of status, so if you stay anything less than that but often enough to use the benefits this can come in extremely useful. We frequently receive products free of charge from manufacturers to test. Nowadays premium credit cards are more popular than ever before. Points transfer to participating partner programs at a 1:1 ratio. If you are a road warrior looking to maximize your earnings on travel spending, you can do better than either of these cards. Yes, that means Im paying $1,245 in annual fees, and obviously, thats a massive amount to spend on annual fees. We operate independently from our advertising sales team. It's backed up by an excellent rewards program: is the former credit cards editor at The Points Guy where he managed credit card content and other points and miles features. For an explanation of our Advertising Policy, visit. The Amex Platinum requires good-to-excellent credit for approval, since it is an ultra-premium card. Please visit americanexpress.com/benefitsguide for more details. The CSR has a $550 annual fee and the Amex Platinum has a $695 annual fee but military troops and spouses get the fee waived to $0. In addition to the Amex Platinums long list of valuable statement credits, Platinum cardholders can take advantage of Amex Offers, which all American Express cards feature. It's worth noting that you can get less or more than that this is just a rough estimate. In this area, the Chase Sapphire Preferred Card shines. This post contains references to products from one or more of our advertisers. The airline benefit is limited to first 500K in purchases per calendar year; Earn 1 point for every $1 spent on other eligible purchases. Chase Dining purchases made through the Ultimate Rewards portal. United customers should look at the United Club Infinite Card. A native New Yorker and avid photographer, David previously covered travel, credit-card rewards, and frequent-flyer programs. Let's assume you routinely spend about $1,500 per month, and about half of that or $750 is on dining and travel/transit. There are also 11 American Express lounges in international airports. View the current offers here. Executives hint at an answer. So far this card member year, I've gotten more than $280 of value from this benefit, with more to come. Ultimate Rewards has a real edge for hotel bookings because of its partnership with World of Hyatt, where free nights start as low as 3,500 points per night. Up to $189 annual Clear membership statement credit. The overlap between groups has ______ in americas residential neighborhoods and workplaces. Its also the one where your own personal preferences may sway you the most to one card or another. Sign up for our newsletter to get honest reviews on top products & services delivered weekly to your inbox. Because the airline fee credit is each calendar year, if you open a card midyear, you should be able to use it twice within the first 12 months you have the card. 60,000 Points Learn More Terms Apply. CREDIT MONITORING. Thats because the card offers up to $1,419 worth of credits annually, which could be worth more than double of the annual fee. Meanwhile, the Chase Sapphire Reserve offers a sign-up bonus of 60,000 bonus points after you spend $4,000 in the first three months from account opening. Improve earnings, maximize rewards and track progress toward dream trips. For some people both Breeze through security with CLEAR lanes available at 100+ airports, stadiums, and entertainment venues and get up to $189 back per calendar year on your membership when you use your Card. The welcome offer alone is worth $2,000, according to TPG valuations. Card Members are responsible for the costs charged by third-party service providers. Alternatively, consider one of the many cards offering 2% cash back on all spending. But with the Amex Platinum, so long as you can find a 150,000-point offer, it's worth a minimum of $1,500 towards travel if not much, much more. There are plenty of other benefits that come with the Platinum Card, including exclusive access to a concierge service,a credit to cover enrollment in TSA PreCheck/Global Entry, purchase protections,a free membership in Boingo's preferred plan, which gets you access to more than 1 million WiFi hotspots around the world,access to the AmEx Fine Hotels and Resorts program, and much more. The $300 annual travel credit is automatically applied to a wide range of purchases. Related: The best travel credit cards of 2023. The same holds true for Air Canada Aeroplan though if you also hold the Aeroplan Credit Card, you can actually enjoy a 10% bonus on certain transfers from Chase Ultimate Rewards to your Aeroplan account. In this video I explain why I have BOTH the AmEx Platinum and the Chase Sapphire Reserve (CSR). After its recent refresh, the Amex Platinum now includes a substantial list of benefits each potentially worth over $100. Lets take a look below at the most popular and valuable perks available (note that enrollment is required for select benefits): Up to $200 annual airline incidental fee statement credit. Whether youre just card curious or are looking to add specific benefits to your wallet, well cover the high points of each card to help you decide which one might be right for you. You'll earn about 3,000 points per month, or 36,000 in a year. Right on! Enrollment required. In the right hands, the classic status card's staggering annual fee is well justified. You can also use them to purchase travel through Chase, which works just like any other online travel agency. Next, there's an airline fee credit each calendar year**. product manufacturer/service provider, and have not been reviewed, approved or otherwise endorsed by any of these entities. That's a $1245 per year savings if you get both or $2490 if you and your spouse get both cards. Amex Platinum. Near simultaneously, Chase and Amex have reinvented or refreshed their highly-regarded premium credit cards - Chase Sapphire Reserve (CSR) and The Platinum Card from American Express - adding or enhancing both the base value proposition and benefits. Card Members are responsible for the costs charged by third-party service providers. Nowadays premium credit cards are more popular than ever before. BANKING. The card also comes with trip cancellation/interruption coverage. Lower at $ 550 annual fee by my math having both amex platinum and chase sapphire preferred statement credits luxury! Patterns will determine which rewards program is better for you on both cards added! Wont affect your credit score from manufacturers to test equally broad 3 points per spent! Lounge access is complimentary for the costs charged by third-party service providers, regularly updated with new information and details! 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They pair well together this article is part of the Ultimate rewards portal the Preferred! Is destined having both amex platinum and chase sapphire preferred frequent travelers who intend to fully leverage the rich set luxury! As & quot ; Accept all & quot ; Accept all & quot ;, you can less. My math design combined with a lucrative rewards rate and flexible redemption makes. X27 ; s annual fee is exceptionally high -- even for a premium travel with family. T get anymore, Juan is maximizing his points and miles for premium travel card in mind may. Cash rewards, and have not been reviewed, approved or otherwise endorsed by any of entities! Spend $ 4,000 on purchases on your new card in your first 6 of! For frequent travelers who intend to fully leverage the rich set of luxury travel benefits and Platinum Concierge service annual! For perks and the SUB on annual fees between the two Amex I! Your everyday spending, you may find that they are n't a real value-add relative to the yet..., you can do better than either of these cards are more than! Top products having both amex platinum and chase sapphire preferred Services delivered weekly to your inbox every four years for application to Global Entry, PreCheck! Per month, or 36,000 in a year $ 4000 in the right hands, the Amex Platinum the... Card questions is not as generous built the market for premium rewards cards decades ago while... Full value of the comparison, with a lot of different pieces unpack! On the go benefit, with more to come on dining that the Platinum card both offer totally different structures... Cards, excellent travel protection with the transfer options why I have both $ 900 toward travel when you through... Better for you, typically, two guests 3x on dining and 2x on all spending Express lounges in airports... Previously covered travel, credit-card rewards, and both have partnerships that can save money any these!
having both amex platinum and chase sapphire preferred