Improve earnings, maximize rewards and track progress toward dream trips. Its true the Amex Platinum offers Delta Sky Club access. Fantastic car rental coverage, as well as travel and baggage protection. 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. In this video I explain why I have BOTH the AmEx Platinum and the Chase Sapphire Reserve (CSR). Charge card vs Credit Card The Chase Sapphire Reserve is a credit card while the American Express Platinum is a "charge card." A charge card must be paid off in full each month or else you face a hefty monthly fee. Additional reporting by Ryan Wilcox, Stella Shon, Juan Ruiz and Chris Dong. The large difference in annual fees is because these two cards, while targeted toward similar customers, offer radically different benefits. Terms apply to the offers listed on this page. Chase Sapphire Preferred Card . Please visit americanexpress.com/benefitsguide for more details. Chase has a similar program, Chase Offers, but its not nearly as extensive. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc. The USDA National Hunger Hotline has information available in both English and Spanish. While youll pay over $1,200 in annual fees between the two cards, I think it absolutely could make sense to have both. Credit Score ranges are based on FICO credit scoring. For example, when we wink at someone, offer a strong handshake or back away, we are Pheochromocytomas are catecholamine-secreting neuroendocrine tumors. If you're someone who normally buys travel insurance, using the insurance that comes with the Chase Sapphire Reserve can easily save you $2050 every time you travel. Trip cancellation/interruption insurance. A native New Yorker and avid photographer, David previously covered travel, credit-card rewards, and frequent-flyer programs. If you already use these services or merchants, it's like money right back in your pocket. We'll run a soft credit check to find special offers, but it wont affect your credit score. Black-owned Businesses. The Platinum Card from. We frequently receive products free of charge from manufacturers to test. Our points-obsessed staff uses a plethora of credit cards on a daily basis. People often think of the Chase Sapphire Reserve and The Platinum Card from American Express as mutually exclusive. Is 12 workers can build a wall in 50 hours how many workers will be required to do the same work in 40 hours? If you are a road warrior looking to maximize your earnings on travel spending, you can do better than either of these cards. The card also comes with trip cancellation/interruption coverage. Personally I view the two cards as complements rather than substitutes. Each account anniversary you'll earn bonus points equal to 10% of your total purchases made the previous year. It's worth noting that you can get less or more than that this is just a rough estimate. Both cards can potentially offer outsized value, but theyre very different from one another. Now that the excitement has settled, let's take a clear look at two top travel cards that have been revampedthe Chase Sapphire Preferred Card and The Platinum Card from American Express. That's a $1245 per year savings if you get both or $2490 if you and your spouse get both cards. Like individuals, teams develop their skills, the more they use them. Improve earnings, maximize rewards and track progress toward dream trips. Get $200 back in statement credits each year on prepaid Fine Hotels + Resorts or The Hotel Collection bookings, which requires a minimum two-night stay, through American Express Travel when you pay with your Platinum Card. Terms, Conditions and Limitations Apply. And we haven't even gotten to the rewards yet. There are Centurion Lounges at eight airports in the US and one in Hong Kong, with three more locations set to open in 2019 and possibly more to be announced. This is the best points offer ever for this card! The offers on this page have updated or changed since the time of publication. Right on! 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. You can purchase syndication rights to this story here. The Citi / AAdvantage Platinum Select World Elite A teams internal processes usually change over time. American Airlines customers can get lounge access through the Citi / AAdvantage Executive World Elite Mastercard*. Please visit americanexpress.com/benefitsguide for more details. best credit cards When it comes to North American transfer partners, Chase includes United Mileage Plus, Southwest Rapid Rewards and JetBlue. Underwritten by AMEX Assurance Company. spending categories, great travel and car rental protection, and the ability to unlock the full value of the Ultimate Rewards program? Earn 5X Membership Rewards Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards Points on prepaid hotels booked with American Express Travel. Plus, your own feed of TPG content. Let me break down why these cards serve such different purposes. That's only $667 per month of spending required to hit the bonus! Points transfer to participating partner programs at a 1:1 ratio. That doesnt account for all the other perks of the card, like the comprehensive airport lounge access program. Performance information may have changed since the time of publication. 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). Chase Sapphire Reserve have in common is that they both offer a Priority Pass membership and a Global Entry fee credit. Compare the cost in points or miles to cash, and see which option is best. That being said, the math truly does check out for me on both cards. Even for flights, I'd often rather earn 3x Chase Ultimate Rewards points and be covered by the Sapphire Reserve's travel protections. $100 maximum every four years for application to Global Entry, TSA PreCheck or NEXUS. Lounge access is complimentary for the primary cardholder and, typically, two guests. 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. To me that means the card has a real out of pocket of $250 annually, and for that you receive 3x points on dining and travel, the ability to maximize the value of Underwritten by New Hampshire Insurance Company, an AIG Company. Points within the Chase ecosystem can be valuable compared to other rewards programs, especially if you hold a Chase Sapphire Reserve. Subscribe to our newsletter. If not, you may find that they aren't a real value-add relative to the annual fee. 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. Commissions do not affect our editors' opinions or evaluations. I get near full value out of the: Thats $879 worth of credits that Im more or less maximizing, Terms apply to the offers listed on this page. Secondary car rental coverage. On the other hand, the American Express Platinum has a narrow definition of travel eligible to earn at an increased rate, and no other bonus categories. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. View the current offers here. There are also 11 American Express lounges in international airports. Of course, Im talking about The Platinum Card from American Express and the Chase Sapphire Reserve. Weve got your back. The. 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. Both can easily justify the card's annual fee in your first year. Finally, you can transfer points to Chase's airline and hotel partners' loyalty programs transferring points is generally the most valuable wayto use them. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. TPG values Membership Rewards points at 2 cents each, making the initial welcome offer of 80,000 points worth $1,600 alone. Eligibility and Benefit level varies by Card. Between hotel elite status and Centurion Lounge access, the Amex Platinum is better suited for those looking to enjoy a more luxurious travel lifestyle. These are the best publicly available offers (terms apply) that we have found for each product or service. Money. Both Chase Ultimate Rewards and American Express Membership Rewards allow you to convert your rewards to partnering frequent flyer and hotel loyalty programs. Your financial situation is unique and the products and services we review may not be right for your circumstances. Is that even a thing? After its recent refresh, the Amex Platinum now includes a substantial list of benefits each potentially worth over $100. Earn 80,000 bonus miles after you spend $5,000 on purchases in the first 3 months from account opening. United rolls out free fleetwide Wi-Fi for select flyers. Note that there is a two-night minimum stay for The Hotel Collection bookings. The first thing you might notice on these two cards is the vast difference in annual fees. 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. Terms apply to offers listed on this page. Terms, Conditions and Limitations Apply. Although they both have high annual fees, they each. 252 Sharp Street, Cooma, NSW, 2630. binstak router bits speeds and feeds. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Plus, you earn 3 points per dollar on travel (excluding the $300 travel credit) and dining, and these categories are broad enough that you wont be scratching your head trying to decide if youre swiping the right card. Earn more than $1,000 in statement credits each cardmember year for select purchases with partnering merchants. For the rest of this article, though, let's assume you only use it once; we'll consider the remaining fee, minus the credits, at $150. Plus, that way you can spread out the annual fees by a few months. Winner: Chase Sapphire Preferred Best annual fee The Chase Sapphire Preferred has $95 annual fee and the Amex Platinum has a $550 annual fee (see rate and fees ). 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. IHG Rewards Premier credit card. Are you sure you want to rest your choices? This is worth approximately $2,000 to $2,500 depending on your redemption method. Both the Amex Platinum and Chase Sapphire Reserve cards have a wealth of benefits. Points can also be transferred to any of Chase's 14 airline and hotel partners. $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Amex Platinum: Points are worth 1 cent each for air travel and can be transferred to a 1:1 travel partner. Finally, you also have the Pay Yourself Back option with the Sapphire Reserve, allowing you to use points to cover certain purchases at higher values: Again, though, the best redemption option will typically come from maximizing Chase's transfer partners. The Chase Sapphire Reserve and The Platinum Card from American Express are two of the most popular and rewarding premium cards. Nowadays premium credit cards are more popular than ever before. Access is exclusive for Platinum and Centurion (Black) cardholders. In the right hands, the classic status card's staggering annual fee is well justified. 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. Chase offers no equivalent benefit. However, if you opt to use your points directly through American Express Travel, you won't get nearly the value you do through Chase. Does it make sense to have Amex Gold and 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. Each January (or whenever you open your card), you pick one airline for the credit to apply toward. Eligibility and Benefit level varies by Card. Card Members are responsible for the costs charged by third-party service providers. There are even more places your Platinum Card can get you complimentary entry and exclusive perks. American Express does offer cardmembers options to cover card charges or pay with Membership Rewards points at a number of merchants, which are close enough to cash back to make a comparison. But wait! fees? Many or all of the offers on this site are from companies from which Insider receives compensation (for a full list. 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. And the Chase Sapphire Reserve is costing me $250 per year, but it allows me to maximize the four excellent no annual fee Chase cards I have, which supercharges my points earning. It's backed up by an excellent rewards program: 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. Heres a rundown of TPGs estimated value of a few of the Amex Platinums benefits: (*Enrollment required for select benefits.). Does Amex Platinum have more lounge access than the Chase Sapphire Reserve? Why should you spend money on an annual fee just so that you canspend money with a credit card? Please check out our advertiser policy for further details about our partners, and thanks for your support! 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