Two titans come to thoughts when discussing the premium card market: The Chase Sapphire Reserve® (see charges and costs) and The Platinum Card® from American Categorical.
The summer season’s premium card battle continues into the autumn with the Amex Platinum receiving a refresh that options new and enhanced advantages and the next $895 annual charge (see charges and costs). These modifications straight problem the Sapphire Reserve’s personal overhaul, which occurred earlier this yr in June.
With each playing cards present process huge modifications inside months of one another, let’s focus on which one deserves a spot in your pockets.
Amex Platinum vs. Sapphire Reserve comparability
5 factors per greenback spent on flights booked straight with airways or by way of American Categorical Journey® (on as much as $500,000 of airfare purchases per calendar yr, then 1 level per greenback)
5 factors per greenback spent on pay as you go resorts booked with Amex Journey
1 level per greenback spent on different eligible purchases
10 factors per greenback spent on Peloton tools and accent purchases of $150 or extra (by way of Dec. 31, 2027)
8 factors per greenback spent on all Chase Journey℠ purchases
5 factors per greenback spent on Lyft rides (by way of Sept. 30, 2027)
4 factors per greenback spent on flights and resorts booked straight
3 factors per greenback spent on eating
1 level per greenback spent on all different purchases
Notable advantages
Resort: As much as $600 annual lodge assertion credit score per calendar yr (as much as $300 biannually), legitimate on pay as you go Amex Nice Lodges + Resorts or The Resort Assortment bookings (of two nights or extra) while you pay together with your Amex Platinum; Cardmembers additionally get complimentary Gold standing with Hilton Honors and Marriott Bonvoy in addition to Complimentary Leaders Membership Sterling Standing from The Main Lodges of the World*
Resy: As much as $400 annual Resy assertion credit score (as much as $100 every quarter) per calendar yr for eating at eligible U.S. eating places*
Digital streaming: As much as $300 digital leisure assertion credit score per calendar yr (as much as $25 per thirty days)*
Lululemon: As much as $300 annual assertion credit score for Lululemon purchases (as much as $75 per quarter) at U.S. shops, excluding retailers, and on-line per calendar yr*
Clear Plus: As much as $209 Clear Plus assertion credit score per calendar yr to cowl your annual membership (topic to auto-renewal)*
Airline credit score: As much as $200 annual airline incidental assertion credit score together with your chosen airline per calendar yr
Oura Ring: As much as $200 annual assertion credit score per calendar yr on {hardware} purchases solely*
Uber: As much as $200 in annual Uber Money for U.S. providers per calendar yr; disbursed as $15 month-to-month, with a $20 bonus in December; Uber Money will solely be deposited into one Uber account while you add the Amex Platinum Card as a fee methodology and redeem with any Amex card
Uber One: As much as a $120 assertion credit score that totally covers an auto-renewing $96 annual or $9.99 month-to-month membership*
Walmart+: As much as $155 assertion credit score per calendar yr to cowl the price of a month-to-month Walmart+ membership when paying together with your Amex Platinum (as much as $12.95 plus relevant taxes on one membership; topic to auto-renewal; Plus Up advantages are excluded)*
Saks Fifth Avenue: As much as $100 annual Saks assertion credit score per calendar yr (as much as $50 biannually)*
Journey: A $300 annual journey credit score
Resort: Credit score for as much as $500 yearly for lodge bookings of two nights or extra by way of The Edit (as much as $250 biannually), plus an extra $250 credit score for the 2026 calendar yr when reserving choose Chase Journey resorts (acquired on Jan. 1, 2026)
Eating credit score: $300 annual eating credit score with the Sapphire Reserve Unique Tables program (as much as $150 biannually)
World Entry, TSA PreCheck or Nexus: As much as $120 utility charge credit score each 4 years
Leisure: $300 annual assertion credit score for StubHub or Viagogo (as much as $150 biannually; by way of Dec. 31, 2027); activation required
Apple TV+/Apple Music: As much as $250 yearly in complimentary subscriptions to Apple TV+ and Apple Music (by way of June 22, 2027); particular person activation required
DoorDash: Complimentary DoorDash DashPass subscription (activate by Dec. 31, 2027) and as much as $25 in DoorDash promos every month when you could have an lively DashPass membership
Lyft: as much as $10 month-to-month credit score in-app; doesn’t apply to Wait & Save, bike or scooter rides (by way of Sept. 30, 2027)
IHG elite standing: Complimentary IHG One Rewards Platinum Elite standing (by way of Dec. 31, 2027)
Peloton: As much as $120 for a Peloton membership credit score (as much as $10 per thirty days) by way of Dec. 31, 2027; activation required
*Enrollment is required.
Amex Platinum vs. Sapphire Reserve welcome supply
When contemplating a brand new premium card with a excessive annual charge, a big welcome supply will assist to recoup a few of that value. With the Amex Platinum, the present welcome supply is value as much as $3,500 primarily based on TPG’s September 2025 valuations.
In the meantime, the Sapphire Reserve‘s welcome supply is value $2,563 per our September 2025 valuations. It is value noting that the Sapphire Reserve’s bonus is simpler to realize due to its decrease spending requirement when in comparison with the Amex Platinum.
Maintain bonus eligibility for each playing cards in thoughts.
Amex solely means that you can earn a welcome supply on a card as soon as per lifetime, so should you aren’t focused for the very best supply, it could be value holding off till you’re.
The Sapphire Reserve’s eligibility additionally modified — should you’ve beforehand acquired a welcome supply, no matter how a lot time has handed because you had been final permitted, you’re not eligible to obtain one other welcome bonus on the Sapphire Reserve.
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Winner: Tie. We suggest you go along with the Amex Platinum if focused for at the very least 125,000 bonus factors; in any other case, the Sapphire Reserve is a better option.
Associated: The most effective bank card welcome bonuses
Amex Platinum vs. Sapphire Reserve advantages
The Sapphire Reserve and the Amex Platinum are the 2 most costly playing cards within the market.
The brand new Sapphire Reserve advantages can be found instantly to cardholders who opened their accounts after June 23, 2025. For present cardholders, they are going to be out there beginning Oct. 26, 2025.
Current Platinum holders have already got entry to the brand new advantages introduced.
Regardless of such excessive annual charges, every card gives advantages that provide help to recoup greater than you are paying. Here is how every card’s advantages examine.
Journey advantages
Each playing cards present comparable journey perks, together with lodge assertion credit, membership credit for journey applications like World Entry, TSA PreCheck and Clear Plus.
The tie-breaker right here, nonetheless, is the Sapphire Reserve’s easy-to-use $300 journey credit score — particularly in comparison with the extra restrictive perks of the Amex Platinum, just like the as much as $200 airline assertion credit score.
Then there’s the airport lounge entry provided by each playing cards.
Eligible Amex Platinum cardmembers have entry to the American Categorical World Lounge Assortment, together with Centurion Lounges, Precedence Move™ lounges, Delta Sky Golf equipment (when touring on same-day Delta Air Strains flights; restricted to 10 visits) and extra. Enrollment required.
Cardmembers can unlock Centurion Lounge visitor privileges after spending $75,000 in a calendar yr.
The Sapphire Reserve gives entry to Precedence Move lounges and Chase Sapphire Lounge by The Membership areas, and allows you to usher in as much as two company for no extra charge or minimal spend requirement.
Cardholders additionally get entry to pick out Maple Leaf Lounges and Air Canada Cafes in Canada, the U.S. and Europe. Regardless of its smaller footprint, I favor Sapphire Lounges as a result of I can carry as much as two company, whereas I want to succeed in a minimal spend on the Amex Platinum to earn visitor privileges.
Winner: Sapphire Reserve resulting from its approachable assertion credit and visitor privileges at Sapphire Lounges.
Associated: Inside Chase’s gorgeous new Sapphire Lounge in San Diego
Eating advantages
Premium playing cards additionally present cardmembers with advantages at dwelling, together with meals supply and eating perks.
Sapphire Reserve’s dining-related perks embrace as much as a $300 annual eating credit score at Sapphire Reserve Unique Tables by way of OpenTable.
The Amex Platinum gives an as much as $400 Resy assertion credit score (as much as $100 every quarter) per calendar yr for eating at eligible U.S. eating places and entry to particular reservations at extremely acclaimed collaborating eating places by way of the cardboard’s new characteristic, Platinum Nights by Resy. Enrollment required.
By comparability, the Resy credit score can be utilized at over 10,000 eating places throughout the U.S., however the Sapphire Reserve’s $300 credit score is just legitimate at OpenTable eating places situated in 26 U.S. cities.
On a constructive word, neither the Amex Platinum nor the Sapphire Reserve requires a reservation to make use of the eating credit.
Winner: Amex Platinum. Greater eating assertion credit score worth and out there at extra eating places throughout the U.S.
Leisure and way of life advantages
With the cardboard’s newest refresh, the Amex Platinum continues to increase into way of life perks.
As famous above, cardmembers earn assertion credit with notable manufacturers reminiscent of as much as $75 1 / 4 at Lululemon in-store (U.S.) and on-line (excluding retailers), as much as $200 yearly for an Oura Ring ({hardware} solely), as much as $50 biannually at Saks, as much as $120 yearly for an Uber One membership (topic to auto-renewal) and as much as $12.95 a month plus relevant taxes for a Walmart+ membership (topic to auto-renewal, Plus Up excluded).
Further way of life assertion credit embrace an as much as $300 Equinox assertion credit score (topic to auto-renewal) and an as much as $300 SoulCycle assertion credit score.
Enrollment is required for choose advantages.
Whereas Amex overwhelms with area of interest assertion credit, Chase retains it easy and gives as much as a $300 annual assertion credit score for StubHub or Viagogo (activation required) and complimentary memberships for Apple TV+ and Apple Music (a one-time activation is required per service).
The newest assertion credit added to the Amex Platinum attraction to me personally. I really like Lululemon, and their athletic put on makes for one of the best journey outfits.
Moreover, Amex has elevated the month-to-month assertion credit score to as much as $25 for streaming providers and added Paramount+, YouTube Premium and YouTube TV, (enrollment required). Amex Platinum can also be the king of streaming service suppliers as a result of, as Walmart+ members, cardmembers get entry to both Paramount+ Important (separate enrollment required) or a Peacock premium plan.
It goes with out saying that the Amex Platinum has extra way of life assertion credit, however many of those credit do not imply a lot to each cardmember, and other people merely use them or exit of their method to make use of them as a result of the cardboard provides them. In any other case, these advantages are typically not on their radar.
Winner: Tie. If the Amex Platinum assertion credit apply to you, it is value it. In any other case, the Sapphire Reserve credit are simpler to make use of.
Journey protections
The Sapphire Reserve comes with its industry-leading journey protections:
Chase has traditionally been the chief in journey insurance coverage, as its choices have beneficiant phrases. Amex has partially closed the hole, including a set of journey safety advantages to the Amex Platinum Card
Winner: Sapphire Reserve. It provides higher total protection throughout all varieties of safety.
Associated: The best way to determine if a bank card’s annual charge is value paying
Incomes factors on the Amex Platinum vs. Sapphire Reserve
Though the welcome bonus is an effective solution to begin your factors stability, you need a card that’ll provide help to rapidly earn invaluable transferable factors.
The Amex Platinum earns:
5 factors per greenback spent on airfare bought straight with airways or by way of Amex Journey (on as much as $500,000 of airfare purchases per calendar yr, then 1 level per greenback)5 factors per greenback spent on pay as you go resorts booked with Amex Travel1 level per greenback spent on all different purchases
The Sapphire Reserve provides a broader vary of bonus classes and earns:
10 factors per greenback spent on Peloton tools and accent purchases of $150 or extra (by way of Dec. 31, 2027), with a most of fifty,000 points8 factors per greenback spent on all Chase Journey purchases5 factors per greenback spent on Lyft rides (by way of Sept. 30, 2027)4 factors per greenback spent on flights and lodge purchases made straight with the merchant3 factors per greenback spent on eating purchases1 level per greenback spent on all different purchases
The Amex Platinum is finest for these with important airfare purchases (because it gives a terrific 10% return primarily based on TPG’s September 2025 valuations), however that is additionally the place the issue lies; it is too targeted on airfare purchases.
The Sapphire Reserve is a card relevant to most individuals because it gives at the very least a 16% (primarily based on TPG’s September 2025 valuations) return on Chase Journey purchases. It additionally provides extra bonus classes for incomes, reminiscent of resorts and eating.
Winner: Sapphire Reserve. This card provides one of the best bonus factors throughout a number of bonus classes.
Associated: Finest reward bank cards
Redeeming factors on the Amex Platinum vs. Sapphire Reserve
Chase Final Rewards and Amex Membership Rewards are equally valued at 2.05 and a couple of cents apiece, respectively, based on TPG’s September 2025 valuations.
Chase gives assured worth by providing a 50% bonus when redeeming factors for journey straight by way of Chase Journey till Oct. 26, 2027 (for present cardholders earlier than June 23), and as much as a 100% bonus of two factors per greenback spent with choose airways and The Edit resorts by way of Chase Journey, due to Factors Increase.
Add this to Chase’s checklist of its 14 airline and lodge switch companions (13 as of Oct. 16 with the lack of Emirates Skywards).
In the meantime, the Amex Platinum provides extra methods to make use of your factors due to 17 airline and three lodge switch companions. Sadly, in comparison with Chase, American Categorical Journey redemptions are just one cent per level for flight bookings and 0.7 cents per level for lodge reservations.
Factors earned from the Amex Platinum and the Sapphire Reserve will be redeemed for nontravel redemptions reminiscent of money again, assertion credit and reward playing cards, however these redemptions typically yield poor worth.
Winner: Sapphire Reserve. The cardboard has the next redemption worth for journey.
Transferring factors on the Amex Platinum vs. Sapphire Reserve
You will nearly at all times get higher worth every time transferring your factors to airline and lodge loyalty applications. All Chase accomplice transfers are at a 1:1 ratio, and most of them are on the spot. A invaluable switch accomplice is World of Hyatt, the place you may e-book an award evening for as little as 3,500 factors per evening.
On the airline facet, well-liked switch companions embrace Air France-KLM Flying Blue, Southwest Speedy Rewards and Virgin Atlantic Flying Membership.
In the meantime, Amex Membership Rewards has 20 switch companions, although not all are worthwhile. Some switch ratios are beneath 1:1, and a few switch occasions are longer, which will be dangerous by way of award house disappearing whilst you wait.
As somebody who has each the Amex Platinum and the Sapphire Reserve, I favor transferring my factors to applications like ANA Mileage Membership, Air Canada Aeroplan and British Airways Membership.
Just lately, I transferred 50,000 factors from my Sapphire Reserve to Aeroplan to e-book a multicity stopover ticket in enterprise class all through Europe for my household. Resulting from increased summer season pricing, the fee would’ve been effectively over $2,000 if I had paid money for the flights.
Winner: Tie. Though the Sapphire Reserve has higher switch ratios, the Amex Platinum has extra companions, together with some not discovered with different issuers.
Associated: An entire checklist of switch bonuses over the previous decade — which issuer is probably the most beneficiant?
Ought to I get the Amex Platinum or Sapphire Reserve?
Each playing cards supply stellar worth should you use most of their perks, however they differ in key areas.
Selecting the one which most closely fits you boils right down to what particular assertion credit and advantages finest align together with your way of life, journey habits and spending patterns. It is also value occupied with the $100 annual charge distinction between the 2 merchandise, that are already expensive.
And keep in mind that it does not must be one or the opposite — some TPG staffers have each playing cards as a result of they get outsize worth from each. It merely is dependent upon what you want from every product.
Backside line
The Sapphire Reserve is an easy premium bank card with a powerful checklist of assertion credit and perks that really feel much less like a “coupon e-book” to me than the Amex Platinum. The Reserve provides complete incomes charges for airfare, eating and resorts, one thing lacking on the Amex Platinum.
The Amex Platinum responded strongly to Chase and has elevated the cardboard past journey, including a number of new assertion credit value over $1,000 in worth, and rapid entry to new advantages, one thing Reserve cardholders needed to wait a couple of months for.
With each choices, the playing cards are solely as invaluable as the advantages you maximize.
To study extra, learn our full critiques of the Sapphire Reserve and the Amex Platinum.
Apply right here: Amex PlatinumApply right here: Sapphire Reserve
For charges and costs of the Amex Platinum, click on right here.
