Travel credit cards can help you offset the cost of your adventures, but in order to get the best possible value from your card, you need to choose one that makes sense for your wallet. The best rewards credit card for you will align with how you spend money and offer benefits that are important to you.
Both Chase and American Express offer travel rewards cards tailored to frequent travelers. Their cards have many similarities, but also significant differences. In this article, we'll compare two popular cards, the Chase Sapphire Preferred® Card vs. The Platinum Card® from American Express, so you can determine which is the best travel card that works for your situation.
Chase Sapphire Preferred vs. Amex Platinum
Chase Sapphire Preferred
|Annual fee||$95||$695 (Terms apply)|
|Welcome bonus||Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening||Earn 80,000 Membership Rewards points after spending $8,000 on purchases on your new card in the first 6 months|
|Earning rate||5X points on travel purchased through Chase Ultimate Rewards®; 3X points on dining, select streaming services, and eligible online grocery purchases; 2X points on all other travel purchases, and 1X points per $1 on all other eligible purchases||5X points per dollar spent on eligible airfare (on up to $500,000 per calendar year, after that 1X) and eligible hotel purchases, and 1X points per dollar on all other eligible purchases|
|Redemption methods||Chase Ultimate Rewards points can be redeemed for travel, gift cards, experiences, or a statement credit. It’s also possible to transfer to partner hotel and airline programs at a 1:1 rate.
There is a 25% redemption bonus on travel booked through the Chase travel portal
|Amex Membership Rewards points can be redeemed for statement credits, travel, gift cards, and purchases through the American Express portal. There is a 35% point rebate on flights when using Pay with Points.
Rewards can also be transferred at a 1:1 ratio to a variety of airline and hotel programs.
|Foreign transaction fee||None||None|
|Credit needed||Excellent, Good||Excellent, Good|
What both cards excel at
Both Chase cards and American Express cards are known for providing a lot of value to their holders. For that reason, these two credit card offers have a number of common areas where they excel:
Bonus points on purchases
These rewards cards both have bonus categories that will be useful when you use these cards to book travel, and they're both considered to be among the best travel credit cards. When comparing the Chase Sapphire Preferred vs. the American Express Platinum, however, there are some notable differences.
The Chase Sapphire Preferred gives 5X points on travel purchased through Chase Ultimate Rewards®; 3X points on dining, select streaming services, and eligible online grocery purchases; 2X points on all other travel purchases, and 1X points per $1 on all other eligible purchases. Amex Platinum cardholders earn 5X points per dollar spent on eligible airfare (on up to $500,000 per calendar year, after that 1X) and eligible hotel purchases, and 1X points per dollar on all other eligible purchases.
The Sapphire Preferred offers more flexibility in terms of how you can book your travel to earn that higher rewards rate.
Read our Chase Sapphire Preferred review for more details.
The points you earn in both rewards programs are flexible and can be used in multiple ways. You can use them to book travel through your card’s travel portal, transfer them to airline and hotel partners, or redeem them for statement credits, gift cards, and more.
For both the Amex Platinum and the Chase Sapphire Preferred, transferring points to airline and hotel transfer partners usually yields the most value. The Chase Sapphire Preferred offers three hotel and 11 airline transfer partners. World of Hyatt, United MileagePlus, and Southwest Airlines Rapid Rewards are examples of Ultimate Rewards transfer partners.
The Amex Platinum also has three hotel partners, but it offers slightly more flexibility with its 17 airline transfer partners. Membership Rewards transfer partners include Hilton Honors, Qantas Frequent Flyer, and Delta SkyMiles. This provides loads of value, even with the $695 annual fee. Read our Amex Platinum review for more details.
Some airline and hotel transfer partners overlap between the two cards. For instance, you can transfer Chase Ultimate Rewards and Amex Membership Rewards points to the Flying Blue, JetBlue TrueBlue, and Marriott Bonvoy programs. As you compare the two cards, think about which partner airline and hotel loyalty programs appeal to you the most.
No foreign transaction fees
If you travel abroad often, you’ll be happy to know that there are no foreign transaction fees with either the Chase Sapphire Preferred or Amex Platinum. This benefit can save cardholders up to 3% on international transactions. For example, if you spent $3,000 on your credit card during a European vacation, having a card with no foreign transaction fees would save you $90.
New Chase Sapphire Preferred and American Express Platinum cardholders can earn a welcome bonus after spending a certain amount within a certain amount of time after opening the card. These offers are in addition to the points you'll earn on your purchases. We'll discuss the welcome bonus for each card in detail below.
Amex Platinum vs. Chase Sapphire Preferred: 4 important differences
Although there are a lot of similarities between the Amex Platinum and the Chase Sapphire Preferred, the details are crucial when you compare credit cards. As you look closer at these two cards and the benefits each credit card issuer includes, you'll notice that one of these travel rewards cards might work better for you than the other.
With the Chase Sapphire Preferred, you can earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. These points are worth one cent each for gift cards or 1.25 cents each when you use them to book travel through the Chase travel portal. Points can also be transferred on a 1:1 basis to 14 airline and hotel partners.
With the Amex Platinum, new cardmembers also get a great welcome offer: Earn 80,000 Membership Rewards points after spending $8,000 on purchases on your new card in the first 6 months. The value of these points varies greatly based on how you use them.
They are worth one cent each when booking or upgrading flights through American Express Travel, but other redemptions offer less value.
If your goal is to book travel with your points, the Chase Sapphire Preferred often has the most valuable sign-up bonus because your points are worth 25% more toward travel redemptions on this card.
When you compare airport perks with the Amex Platinum vs. Chase Sapphire Preferred, it is no contest. There is a long list when you start looking at Amex Platinum benefits. It offers access to more than 1,400 airport lounges around the world through the Global Lounge Collection. Lounges include the exclusive Centurion Lounge, Priority Pass, and the Delta Sky Club when flying on Delta. Select benefits require enrollment.
If airport perks are important to you, the Amex Platinum is a better choice than the Chase Sapphire Preferred, which offers no extras at the airport.
Read our Amex Platinum Card review for more details
There is a major difference in terms of annual fee cost between the Chase Sapphire Preferred and Amex Platinum. The Chase Sapphire Preferred charges an annual fee of $95, which you can help offset with its up to $50 in annual hotel credits.
The annual fee for the Amex Platinum is $695, but cardholders can receive a variety of perks and benefits that reduce the net cost. Not every Amex Platinum cardholder will use all of the annual credits, but there is significant value if you do.
For example, you could receive up to $200 annual Uber Cash (good for rides or Uber Eats), up to $100 statement credit from Saks Fifth Avenue, up to $240 statement credit for digital entertainment, and up to $200 statement credit for airline fees. Select benefits require enrollment.
Uber Cash is $15 per month, plus an extra $20 in December. Uber Cash doesn't roll over, so you either use them or lose them. The Saks Fifth Avenue credit is split into two $50 credits – one used from January to June and the other from July to December.
Amex Platinum cardholders receive automatic Hilton Honors Gold and Marriott Bonvoy Gold Elite status. To activate and enroll in this benefit, contact American Express customer service and provide your hotel loyalty number. If you don't already have one, it’s free to set up an account at Hilton.com and Marriott.com.
Additionally, the Amex Platinum offers benefits through Fine Hotels & Resorts (FH&R) and The Hotel Collection (THC). FH&R provides daily complimentary breakfast for two, free Wi-Fi, a unique amenity, and a room upgrade when available. THC offers a $100 resort credit and a room upgrade if one is available.
If hotel perks are important to you, the Amex Platinum comes out on top once again. The Chase Sapphire Preferred offers up to $50 in annual hotel credits, but that's where its hotel benefits end.
FAQs about the Chase Sapphire Preferred and Amex Platinum
Is the Chase Sapphire Preferred worth it?
Many travelers choose the Chase Sapphire Preferred because it earns valuable Chase Ultimate Rewards points. You'll earn 5X points on travel purchased through Chase Ultimate Rewards®; 3X points on dining, select streaming services, and eligible online grocery purchases; 2X points on all other travel purchases, and 1X points per $1 on all other eligible purchases.
Plus, this card includes primary rental coverage against collision damage and theft. With rental car collision damage insurance ranging from $10 to $30 per day, eliminating rental car insurance on a couple of rentals will cover the card’s $95 annual fee.
Is the Amex Platinum worth it?
The Amex Platinum is worth the $695 annual fee for the frequent traveler who values airport lounge access and can use at least a portion of the perks and credits. This card also provides numerous benefits that are hard to quantify. These perks include Hilton Gold and Marriott Gold Elite status, access to Fine Hotels & Resorts and The Hotel Collection, and complimentary premium rental car status. Select benefits require enrollment.
How much are 60,000 Chase points worth?
Chase Ultimate Rewards points range in value from 1 to 1.25 cents per point when you redeem them through the Chase Ultimate Rewards portal. You get 25% more value from travel redemptions, so 60,000 points is worth $750 in travel through the Chase portal. Redemptions for statement credits and gift cards are 1 cent each.
It’s possible to get even more value from your points when you transfer to Chase Sapphire Preferred transfer partners. For instance, Air France KLM Flying Blue is a transfer partner of both the Chase Sapphire Preferred and the Amex Platinum. Transferring 53,000 points to Flying Blue will yield 53,000 Flying Blue miles. I found a one-way business class flight from Boston to Amsterdam in April 2020 for 53,000 Flying Blue miles plus $206 in taxes and fees.
The same flight would have cost $8,426 if I paid cash. Not every flight redemption will yield this much value, but this illustrates the power of transferring points to airline partners to redeem for premium flights.
How much are 60,000 Amex points worth?
The value of 60,000 Amex points varies based on how you redeem. At the low end, 60,000 points are worth $300 (0.5 cents per point) when you use them to shop online or buy American Express gift cards. You'll receive $600 in value from your points when you use them to book flights, upgrade plane tickets, and reserve Fine Hotels & Resorts rooms through Amex Travel.
As the example above shows, when Membership Rewards points are transferred to airline and hotel partners, you may receive a significantly higher value, depending upon the redemption.
Do you get lounge access with the Chase Sapphire Preferred?
The Chase Sapphire Preferred does not include airport lounge access as a benefit. To receive a Priority Pass Select membership from Chase, you'd need to upgrade to the Chase Sapphire Reserve®.
Which card should you choose?
The case for Amex Platinum
Frequent travelers might opt for the Amex Platinum because of its airport lounge access, Global Entry or TSA PreCheck application fee reimbursement, and automatic hotel elite status, as well as a slew of other premium benefits. (Note that select benefits require enrollment.)
The case for Chase Sapphire Preferred
People who spend a lot of money on dining out, travel, and other common expenses will benefit most from the Chase Sapphire Preferred. The 2X points and 3X will add up significantly over time. Although the Amex Platinum earns 5X points per dollar spent on eligible airfare (on up to $500,000 per calendar year, after that 1X) and eligible hotel purchases, and 1X points per dollar on all other eligible purchases, the ability to earn those points is limited.
If you’re an occasional traveler, you would be better off with the Chase Sapphire Preferred due to its lower annual fee. If you want additional perks such as airport lounge access, you can buy a day pass for $29 to $75 at many airports. With a $29 entry fee, you'd have to visit more than 15 airport lounges to justify the cost of the Amex Platinum’s annual fee.
Budget-conscious travelers may also want to choose the Chase Sapphire Preferred over the Amex Platinum. Although the perks of the Amex Platinum are attractive, it’s an expensive card if you’re on a budget. The Preferred card offers a way to earn extra points while still receiving travel protections, including primary rental car insurance, for a significantly lower annual fee.
Finally, if you simply prefer a Visa card to an American Express, then the Sapphire Preferred would be the choice for you also.
Great for Flexible Travel Rewards
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
5X points on travel purchased through Chase Ultimate Rewards®; 3X points on dining, select streaming services, and eligible online grocery purchases; 2X points on all other travel purchases, and 1X points per $1 on all other eligible purchases