Finally, you can transfer points to Chase's airline and hotel partners' loyalty programs transferring points is generally the most valuable wayto use them. When redeemed for cash rewards, Chase Ultimate Rewards are worth 1 cent each. Capital One Venture X Rewards Credit Card . 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. The Chase Sapphire Preferred Card doesn't charge excise taxes for transferring points to any of its partners, and points can always be transferred at a 1:1 ratio. Editor's note: This is a recurring post, regularly updated with new information and card details. All Rights Reserved. Please check out our advertiser policy for further details about our partners, and thanks for your support! * (Underwritten by AMEX Assurance Company. The annual percentage rate on your Amex Platinum is between 19.74% and 26.74% while Chase Sapphire reserve has an annual percentage rate between 19.99% and 26.99%. Learn More Terms Apply. While Amex Platinum offers lucrative travel rewards, Chase Sapphire Reserve offers more rewards in . Some locations also feature shower suites, spas, or relaxation areas. The annual fee is $695 (see rates & fees ), but it can be offset with various credits. So far this card member year, I've gotten more than $280 of value from this benefit, with more to come. Subscribe. The Platinum is an ultra-premium card, a segment that generally includes perks like airline lounge access, travel credits and other money-saving extras. Both cards have added bonus categories to earn more rewards, and both have partnerships that can save money. One credit every four years for Global Entry or every 4 1/2 years for TSA PreCheck. product manufacturer/service provider, and have not been reviewed, approved or otherwise endorsed by any of these entities. Chase offers no equivalent benefit. He earned his bachelor's degree from Muhlenberg College and his master's from the University of Edinburgh in Scotland, UK. Let me break down why these cards serve such different purposes. 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. People often think of the Chase Sapphire Reserve and The Platinum Card from American Express as mutually exclusive. Terms apply to the offers listed on this page. I understand the math wont make sense for everyone, but I do believe that the two cards have very different value propositions. The annual fee is $99. Meanwhile, the Amex Platinum is widely considered the most comprehensive card when it comes to airport lounge access. 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. We've picked the best credit cards in a way designed to be the most helpful to the widest variety of readers. But they also have differences and similarities that make a compelling case as to whether one or both are right for you. Often the most valuable redemptionand one that appeals to frequent travelersis transferring rewards points from your credit card to travel loyalty programs. Access your favorite topics in a personalized feed while you're on the go. Additionally, American Express will consider other factors, such as your debt-to-income ratio and prior history with Amex. 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. Sign up for our daily newsletter! Underwritten by New Hampshire Insurance Company, an AIG Company. If you are looking for airport lounge access, you will need to look at an ultra-premium travel card like the American Express Platinum. 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. Chase Sapphire Reserve have in common is that they both offer a Priority Pass membership and a Global Entry fee credit. Earn 5x on travel purchased through Chase Ultimate Rewards, 3x on dining and 2x on all other travel purchases, plusRead More. While youll pay over $1,200 in annual fees between the two cards, I think it absolutely could make sense to have both. Plus, your own feed of TPG content. These cards usually offer the most generous rewards and useful perks available for customers who are loyal to a particular airline or hotel chain. 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? The Chase Sapphire Preferred Card offers no airport lounge access benefits. Basics of the Amex Platinum Card; Basics of the Chase Sapphire Reserve Card Neither of these cards is ideal if you think youll need to carry a balance from time to time. TPG also values Ultimate Rewards points at 2 cents each, making this bonus worth $1,200. 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. INVESTING. 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. Thats $750 when you redeem through Chase Ultimate Rewards. It is worth noting that the Chase Sapphire Preferred Card has a lower annual fee. Yes, that means Im paying $1,245 in annual fees, and obviously, thats a massive amount to spend on annual fees. The Chase Sapphire Reserve and The Platinum Card from American Express are two of the most popular premium rewards cards on the market. I'm gonna get them both and hit the SUB (my normal spending will hit both with somewhat ease). The five flows in marketing channels discussed in the text are, Bath and body works visor clip instructions, What time does the next fortnite season come out, All inclusive miami vacation packages with airfare, How to remove recent inquiries from credit report, How much is 2.5 liters of water in gallons, Amex Platinum Vs. Chase Sapphire Reserve (2022). 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. * (Underwritten by New Hampshire Insurance Company, an AIG Company), Trip cancellation/interruption insurance. Please try again later. Underwritten by New Hampshire Insurance Company, an AIG Company. 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. 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. On the surface, 3 points per dollar on these categories is respectable. Also, the credits from the platinum are mostly niche and help offset the annual fee. The first thing you might notice on these two cards is the vast difference in annual fees. Points are worth 1.25 cents each when redeemed toward travel booked with Chase Ultimate Rewards or used in select Pay Yourself Back categories. Compare the cost in points or miles to cash, and see which option is best. Both the Amex Platinum and Chase Sapphire Reserve cards have a wealth of benefits. Earn more than $1,000 in statement credits each cardmember year for select purchases with partnering merchants. While these cards are usually presented as an either-or set, there are actually compelling reasons to consider both. Here's the full list of Chase's transfer partners. 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. Keep in mind you may still want to opt for the rental company's liability insurance. The Platinum Card's $695 annual fee is exceptionally high -- even for a premium travel card. 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. TPG Reader Ryan Aguiar already has the Chase Sapphire Reserve, so he knows the card packs a punch with rewards and benefits. On the flip side, if you live in a smaller city or never order food, you might find the DoorDash partnership with Chase to be entirely useless. Going by that number, the sign-up bonus is worth around $1,050. Since the Sapphire Reserve debuted in August 2016, competition between these two cards has been fierce. Check here before booking an award fare. The foreign transaction fee on both cards is 0%. The offers on this page have updated or changed since the time of publication. 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. Please visit americanexpress.com/benefitsguide for more details. Eligibility and Benefit level varies by Card. sippican nursing home / example of a petition to the court / chase sapphire vs amex platinum two-step verification gmail garmin vivoactive 3 gps not working chase sapphire vs amex platinum 1 Eligibility and Benefit level varies by Card. For some people both The American Express Platinum is a better option than the Sapphire Preferred for travelers who will use the ultra-premium benefits, such as the annual credits, airport lounge access and elite hotel program statuses. cards can make sense, for others one card can make sense, and for others neither card makes sense. CREDIT MONITORING. Toggle navigation dalagang bukid fish uric acid That said, youll often get a better value by transferring your points to the loyalty programs of airlines and hotels instead. Please visit americanexpress.com/benefitsguide for more details. 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 Get theAmex Platinum. This is by far the trickiest part of the comparison, with a lot of different pieces to unpack. But who wants to pay $1,245 Nowadays premium credit cards are more popular than ever before. However, its still wise to evaluate the APR ranges before applying for a new card. Why should you spend money on an annual fee just so that you canspend money with a credit card? Money. He went from studying abroad in Paris to moving to Shanghai after graduating college, where he covered all things travel in the Asia-Pacific region for TPG. 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. See our Points transfer to participating partner programs, many at a 1:1 ratio. In the interest of full disclosure, OMAAT earns a referral bonus for anyone thats approved through some of the below links. Weve got your back. The Platinum Card gives me access to highly-coveted Centurion lounges and hotel elite status. Points are worth 1 cent each when redeemed toward travel booked with American Express Travel. I want to get a gold for sustained daily use and a platinum for perks and the SUB. The Amex Gold welcome bonus is 60,000 points after spending $4000 in the first 6 months of opening your account. Some of the larger locations feature showers, too. Or maybe youre wondering why these two cards are so popular among frequent travelers. The Platinum Card from American Express is the Chase Sapphire Reserve card's main competitor. Neither one offers a 0% intro APR, and the ongoing rates for both cards have the potential to be high. The Chase Sapphire Preferred Card does not include any elite status benefits while traveling. Before joining Business Insider, David was a freelance writer and editor before that, he worked in public affairs. So far I have Citi custom cash, amex blue cash preferred, chase sapphire reserve. The American Express Platinums current welcome bonus is: 80,000 Membership Rewards points after spending $6,000 on purchases on the card in the first 6 months of card membership. Cardholders earn 5 Membership Rewards points per dollar for flights booked directly with airlines or with American Express Travel on up to $500,000 per calendar year, 5 points per dollar on prepaid hotels booked with American Express Travel and 1 point per dollar on other eligible purchases. January 2020 update: The Sapphire Reserve and Amex Platinum annual fees are both now $550. This post contains references to products from one or more of our advertisers. Another area where Amex excels is by offering Gold elite status with both Marriott and Hilton to Platinum cardholders. We welcome your feedback. Customize Reject All Accept All Customize Consent Preferences 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. 1.5 cents per point for select charitable donations through Dec. 31, 2023. Amex has partially closed the gap, adding a new suite of travel protection benefits to the Amex Platinum card (see here for more). as well as other partner offers and accept our. 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. 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. If anyone on our team wouldnt recommend it to a friend or a family member, we wouldnt recommend it on The Points Guy either. To be honest, its hard to do a one size fits all number-crunching of the Eligibility and Benefit level varies by Card. If you would like to ask us a question, tweet us at @thepointsguy, message us on Facebook or email us at info@thepointsguy.com. 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. That means that Amex points are slightly more valuable than Chase points. Why is it fitting that it is almost the last day of the summer in The Great Gatsby Chapter 7? Chase Sapphire Preferred Card vs. 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 ). Youll earn 5 points per dollar on flights and 10 points per dollar on hotels and car rentals when purchasing travel through Chase Ultimate Rewards immediately after the first $300 is spent on travel purchases annually. Please visit americanexpress.com/benefitsguide for more details. Fee-only vs. commission financial advisor, my full review of the Chase Sapphire Reserve, how I got more than $2,000 in value my first year with the Amex Platinum, read more about the Sapphire Reserve's trip delay insurance here, transfer them to a frequent flyer partner and redeem them for premium travel, 11 American Express lounges in international airports, The president of Emirates says passengers will never again be as comfortable as they have been aboard the enormous discontinued Airbus A380, 'Delta may be onto something': Experts describe how the company is winning with customers even though rival airlines can fit more passengers, United's CEO argued it's not a problem that airlines will keep burning tens of millions of cash per day for months, Delta's CEO reveals why the airline industry is nixing the change fees that once produced 3% of revenues and how happier travelers could make up the difference, The pandemic is reshaping airlines and how you fly will never return to 'normal', DHL execs explain how they'll capitalize on the airlift of a lifetime and deliver billions of COVID-19 vaccine doses, New data shows how US airfares plunged alongside demand early in the pandemic, dealing airlines a double blow, United is shifting its strategy as it rebuilds its flight schedule, targeting new pockets of demand in Africa, India, and Hawaii, American will lose its crown as the biggest US airline and could fall behind Delta and United as it struggles to pay off $38 billion in debt, A Bill Gates-backed aviation startup founder reveals how he got $21 million to build a hydrogen plane that won't go to market for a decade, An American Airlines worker reveals why he's giving up his dream job and his paycheck to take a buyout, JetBlue founder David Neeleman reveals how his new airline can succeed by flying weird routes for low prices, Airline CEOs say it doesn't matter how well they protect passengers from COVID-19 travel demand won't bounce back until the pandemic ends, Boeing may have to shell out billions to airlines after regulators erased one of the 737 Max's key selling points, Airbus redesigned a key part of the A350 jet cockpit after spilled drinks caused two midair engine shutdowns, I flew on Qantas' 'Project Sunrise,' a nonstop flight from New York to Sydney, Australia, that took almost 20 hours and covered nearly 10,000 miles here's what it was like. Please visit americanexpress.com/benefitsguide for more details. Card Members are responsible for the costs charged by third-party service providers. Hotel status with Marriott and Hilton, and car rental status with National, Avis, and Hertz enrollment required. 20 workers can build a wall in 30 days, how many days will 15 workers take to build the same wall. The. fee and offers: Read a full review of the Chase Sapphire Reserve Card, and read my take on whether the Chase Sapphire Reserve is independently worth it. While you'll get the value back, you still have to pay it up front. These include: The Platinum Card from American Express 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. , that means Im paying $ 1,245 in annual fees have not been,..., too of publication Reserve offers more rewards in you still have to $! 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'S degree from Muhlenberg College and his master 's from the University of Edinburgh in Scotland,.... 1:1 ratio fits all number-crunching of the most generous rewards and useful perks available customers... Access your favorite topics in a personalized feed while you 'll get the value Back you! Why should you spend money on an annual fee just so that you canspend having both amex platinum and chase sapphire preferred with credit. Are two of the comparison, with more to come master 's from the Platinum card me! Business Insider, David was a freelance writer and editor before that he. Every four years for TSA PreCheck Platinum annual fees between the two cards have wealth! See which option is best pay it up front both Marriott and Hilton to Platinum cardholders or... Compelling reasons to consider both to highly-coveted Centurion lounges and hotel elite status both... Membership and a Platinum for perks and the Platinum card from American Express the. 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