Chase Sapphire Preferred Card vs. American Express Platinum: Budget-Friendly or Premium Perks?

• Written by Katie Oelker
  

  Katie Oelker

  Credit cards, rewards

  Katie Oelker is a personal finance writer specializing in credit cards, insurance, travel rewards, investing, and retirement planning. Upon graduating from the University of Wisconsin — Eau Claire with a degree in Economics and Management, Katie attended graduate school to obtain her 5th - 12th grade Business Education teaching license. After teaching business courses at the high school level for five years, Katie became a financial advisor, helping others reach their financial goals. Katie then turned her passion for personal finance and teaching others into writing educational and engaging content for readers, helping to reach a larger audience. When not writing, Katie enjoys planning trips, being active outside, cooking, reading, practicing yoga, and spending time with her family and friends.

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• Edited by Jasmin Baron
  

  Jasmin Baron

  Credit Cards, Travel Rewards, Loyalty Programs, Family Travel, Credit Building, Credit Scores

  Jasmin Baron is CardCritics’ senior editor, responsible for editing and writing credit cards, travel rewards, loyalty program, and other credit-related content. She is passionate about personal finance education and enjoys sharing tips and tricks for making the most credit card points and miles with her readers. Her expertise in maximizing credit card travel rewards originated from over two decades of aviation industry experience, including 18 years working as a pilot and college professor/flight instructor in her native Canada. Her work has appeared on sites such as CNN Underscored Money, Business Insider, The Points Guy, and point.me. When she’s not planning her next trip with credit card rewards, you’ll probably find her tinkering around in the kitchen, hanging out with her three kids, or playing with her dog, Benji.

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• Reviewed by Emily Gadd
  

  Emily Gadd

  Credit Cards, Personal Finance, Health and Wellness

  Emily Gadd is an editor, responsible for writing about personal finance and credit cards. She got her start writing and editing at Healthline. She is passionate about creating educational content that makes complex topics accessible. Emily lives in Seattle with her husband and two cats.

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• Last Updated Oct 8, 2025

When choosing a travel credit card, it can be hard to know where to start. If you’d like travel rewards, a decent-sized welcome offer and a card that gives you elevated points for purchases, the Chase Sapphire Preferred® Card and the American Express Platinum Card®, an advertising partner, might be on your radar. These cards are undoubtedly two of the best travel credit cards out there. 

While the Sapphire Preferred Card has a lower $95 annual fee, it also has fewer perks than the $895-annual-fee Amex Platinum. However, the Chase Sapphire Preferred Card vs. Amex Platinum debate is like comparing apples and oranges. 

Each card has unique benefits and can be a great addition to one’s wallet. Let’s dive into how they stack up.

How the Cards Compare: Chase Sapphire Preferred Card vs. Amex Platinum

Side By Side Comparison

Welcome Offers 

Both the Chase Sapphire Preferred Card and the Amex Platinum Card have welcome offers. These are a great way to earn a significant amount of points quickly, as long as you hit the spending amount needed within the time frame required. 

Chase Sapphire Preferred Welcome Bonus

The Chase Sapphire Preferred Card has a welcome offer of 75,000 Chase Ultimate Rewards® points after you spend $5,000 on purchases within the first three months of account opening. If you redeem your points through Chase Travel℠, this bonus is worth $1,312. 

American Express Platinum Welcome Offer

The Amex Platinum Card has a unique offer opportunity: You may be eligible for as high as 175,000 Membership Rewards® Points after spending $8,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.  

While this has a higher spending requirement than the Sapphire Preferred Card, it’s still a significant number of points to earn. 

CardCritics™ Opinion 

Currently, the Amex Platinum has a high welcome offer, but it requires more spending to unlock over a longer period. The Sapphire Preferred Card’s offer may be more suited to those with lower everyday expenses, but it has a shorter time frame in which to meet the requirement.

Earning Rewards 

After the welcome offer is hit, it’s not time to stop using your card. The Sapphire Preferred Card and Amex Platinum cards have elevated point earning on select categories, so you can continue earning rewards on everyday spending. 

How To Earn Rewards With the Chase Sapphire Preferred 

Earning rewards with Sapphire Preferred Card doesn’t stop with the welcome bonus. To get the most out of your card, use it for travel bookings (especially through Chase Travel), and also for online grocery, dining and select streaming purchases, as those categories earn bonus rewards. 

The card earns at the following rates: 

• 5x points on Chase Travel bookings (excluding purchases that qualify for the card’s $50 annual hotel credit)
• 3x points on dining, including restaurants, takeout and eligible delivery services
• 3x points on online grocery purchases
• 3x points on select streaming services
• 2x points on all other travel purchases 
• 1x points on all other purchases

How To Earn Rewards With the American Express Platinum 

The Amex Platinum also has specific categories that earn an elevated points rate, though it’s not as well suited to everyday spending: 

• 5x points on flights booked directly with airlines or through American Express Travel®, on up to $500,000 in purchases per year
• 5x points on prepaid hotels booked through AmexTravel.com
• 1x points on other purchases

CardCritics™ Opinion 

While the Chase Sapphire Preferred Card and Amex Platinum have higher earning rates for certain types of travel, the Sapphire Preferred Card has more bonus categories for everyday spending, making it our choice and one of the best Chase credit cards overall. However, the Amex Platinum might make sense if you book air travel frequently.

Redeeming Rewards 

Both cards offer several ways to redeem your points, each with different values. Transferring rewards to airline or hotel travel partners can result in the highest value per point, but redeeming for travel through each issuer’s respective travel portal can be a good deal, too. 

How To Redeem Rewards With the Chase Sapphire Preferred 

You can redeem points from your Chase Sapphire Preferred Card through your online account, with several options: 

• Transfer to travel partners: Transfer points to hotel or airline partners such as World of Hyatt, United MileagePlus and Southwest. Occasionally, Chase offers elevated transfer bonuses. 
• Purchase travel: Book hotels, flights, car rentals, cruises, activities and tours directly through Chase and get up to 1.75 cents per point on redemptions with the new Points Boost feature.
• Statement credit/cash back: Redeem points for cash back at 1 cent each as a direct deposit or statement credit. 
• Pay with points: Use points to pay for some or all of your Amazon, PayPal or Apple purchases (rate varies). 
• Redeem for gift cards: Purchase gift cards at 175 retailers, including Target, Best Buy and Starbucks (rate varies). 
• Pay Yourself Back®: Obtain a statement credit on select qualifying purchases (rate varies).
• Book Chase Experiences: Use points to pay for experiences and exclusive events (rate varies). 

How To Redeem Rewards With the American Express Platinum

American Express also has a platform for redeeming points in your online account. Here are the ways you can use the points accrued from your Amex Platinum Card:

• Transfer to travel partners: Transfer points to hotel or airline partners such as Hilton Honors, Delta SkyMiles and Air Canada Aeroplan. Also, be on the lookout for elevated transfer offer specials to help you use fewer points. 
• Redeem for travel: Use points at 1 cent apiece toward flights or Fine Hotels & Resorts bookings, or at a rate of 0.7 cents each for hotels, car rentals and cruises at AmexTravel.com. 
• Statement credit: Redeem points for a statement credit at 0.6 cents each. 
• Pay with points: Pay directly at checkout at participating retailers (rate varies). 
• Redeem for gift cards: Purchase retail, restaurant, entertainment, travel and American Express gift cards (rate varies). 
• Cover your charges: Obtain a statement credit at 0.6 cents per point on select qualifying purchases.

CardCritics™ Opinion 

Both cards have various redemption options, including transfers to airline and hotel partners. Chase has the edge in points value when it comes to redeeming through its travel portal or for cash back, making the Sapphire Preferred Card our choice. 

Get More Value When You Transfer to Travel Partners

Both cards allow you to transfer the points you earn to partner hotel and airline loyalty programs. When you transfer points to partners, it’s possible to get a higher value for your rewards by booking award travel — but the exact value depends on the partner and redemption.

Chase Sapphire Preferred Transfer Partners

You’ll get a 1:1 value when you transfer Ultimate Rewards points from the Sapphire Preferred Card to one of Chase’s travel partners. These include:

• Aer Lingus AerClub
• Air Canada Aeroplan
• Air France-KLM Flying Blue
• Emirates Skywards (ends Oct. 16, 2025)
• Iberia Plus
• IHG One Rewards 
• JetBlue TrueBlue
• Marriott Bonvoy
• Singapore Airlines KrisFlyer
• Southwest Airlines Rapid Rewards
• The British Airways Club
• United MileagePlus
• Virgin Atlantic Flying Club
• World of Hyatt

American Express Platinum Transfer Partners

The transfer rates aren’t as straightforward with the Amex Platinum. The following Amex transfer partners offer a 1:1 transfer ratio:

• Aer Lingus Aer Club
• Air Canada Aeroplan
• Air France-KLM Flying Blue
• ANA Mileage Plan
• Avianca Lifemiles
• Cathay Pacific
• Choice Privileges
• Delta SkyMiles
• Etihad Guest
• Iberia Plus
• Marriott Bonvoy
• Qantas Frequent Flyer
• Qatar Airways Privilege Club
• Singapore Airlines KrisFlyer
• The British Airways Club
• Virgin Atlantic Flying Club

For the rest of the partners, the ratios are a little different:

• Aeromexico Rewards: 1,000 Amex points = 1,600 Aeromexico Rewards points
• Emirates Skywards: 1,000 Amex points = 800 Skywards miles
• Hilton Honors: 1,000 Amex points = 2,000 Hilton Honors points
• JetBlue TrueBlue: 250 Amex points = 200 TrueBlue points

CardCritics™ Opinion

American Express offers a longer list of transfer partners, but Chase’s partners can be more useful to US travelers, depending on which airline and hotel programs you use often.

For example, Chase partners with United MileagePlus, Southwest Rapid Rewards, World of Hyatt and IHG One Rewards — none of which partner with Amex. However, Amex’s unique partners include Delta SkyMiles, Hilton Honors and Choice Privileges. 

Chase also has the advantage of simplicity since all of its partners have a 1:1 transfer ratio. With Amex, you’ll need to be mindful of programs that have lesser (or better) ratios.

Card Benefits 

Outside of redeeming the credit card points you’ve accumulated, the Chase Sapphire Preferred Card and Amex Platinum have other benefits that help increase their value. Both offer strong travel insurance, but each has its unique benefits as well. 

Amex Platinum Benefits 

Amex Platinum benefits recently got an overhaul with the addition of new statement credits and perks, albeit with a higher annual fee. Here’s what to expect from the card:

• $300 Digital Entertainment Credit: Get up to $25 in statement credits each month after you pay for eligible purchases with the Platinum Card® at participating partners. This can be an annual savings of up to $300. To view participating partners, visit americanexpress.com/platinum. Enrollment required.
• $600 Hotel Credit: Get up to $300 back in statement credits semi-annually for up to a total of $600 per year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel® using your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
• $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Card or any of the Additional Cards on your Platinum Card® account. American Express relies on airlines to submit the correct information on airline transactions to identify incidental fee purchases. If you do not see a credit for a qualifying incidental purchase on your eligible Card after 8 weeks, simply call the number on the back of your Card. Qualifying airlines are subject to change. See terms & conditions for more details. Enrollment required.
• $200 Uber Cash+ $120 Uber One Credit: With the Platinum Card® you can receive $15 in Uber Cash each month plus a bonus $20 in December when you add your Platinum Card® to your Uber account to use on rides and orders in the U.S when you select an Amex Card for your transaction. Plus, when you use the Platinum Card® to pay for an auto-renewing Uber One membership, you can get up to $120 in statement credits each calendar year. Terms apply.
• $209 CLEAR® Plus Credit: CLEAR® Plus helps get you to your gate faster by using unique facial attributes to verify you are you at 50+ airports nationwide. You can cover the cost of a CLEAR Plus Membership with up to $209 in statement credits per calendar year after you pay for CLEAR Plus with your Platinum Card®. Excluding any applicable taxes and fees. Subject to auto-renewal.
• Walmart+ Monthly Membership Credit: Receive a statement credit for one monthly Walmart+ membership (subject to auto-renewal) after you pay for Walmart+ each month with your Platinum Card®. Up to $12.95 plus applicable local sales tax. Plus Ups not eligible.
• Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue or saks.com on your Platinum Card®. That’s up to $50 in statement credits from January through June and up to $50 in statement credits from July through December. No minimum purchase required. Enrollment required.
• $300 lululemon Credit: Enjoy up to $75 in statement credits each quarter when you use the Platinum Card® for eligible purchases at U.S. lululemon retail stores (excluding outlets) and lululemon.com. That’s up to $300 in statement credits each calendar year. Enrollment required.
• $300 Equinox Credit: Get up to $300 in statement credits each year at Equinox. Simply use your Platinum Card® to pay for an Equinox+ digital subscription, or an Equinox club membership subject to auto-renewal. Enrollment required.
• American Express Global Lounge Collection®: Eligible Card Members can enjoy the benefits of the Global Lounge Collection, with a value of over $850 when you enroll into Priority Pass Select and make multiple visits to select Lufthansa lounges when flying Lufthansa, Plaza Premium lounges and Escape Lounges each year. As of 07/2025.

Chase Sapphire Preferred Benefits 

While Chase Sapphire Preferred Card benefits are fewer than the Amex Platinum, for a low annual fee, it still has a number to consider:

• Up to $50 annual hotel credit: Get up to $50 in statement credits toward Chase Travel hotel bookings each year. 
• Complimentary DashPass membership: Enroll in a complimentary DashPass membership that comes with $0 delivery fees and lower service fees on eligible DoorDash and Caviar orders (activation required by Dec. 31, 2027).
• 10% anniversary points boost: Receive a points bonus equal to 10% of total annual card spending each card anniversary.

CardCritics™ Opinion 

The Amex Platinum is the clear winner here, with significant perks totaling up to $3,500 in annual value. While it does have a much higher annual fee, as long as you maximize the benefits, the Amex Platinum can be more than worth it. It is one of the best American Express cards out there. 

My own family has an Amex Platinum Card and we’ve used the card’s annual hotel credit to offset the cost of a long weekend getaway, the $200 annual airline fee credit to pay for lounge access for a partner, the $200 annual Uber Cash to lower the cost of an Uber Eats delivery once a month and the $100 annual Saks Fifth Avenue credit to purchase birthday gifts for our kids (enrollment required). That totals $700, even without the other benefits. 

Other Card Perks

On top of statement credits, the cards offer top-notch travel insurance, purchase protections and a range of other premium benefits.

Chase Sapphire Preferred Perks

When you use your Sapphire Preferred Card to pay for qualifying travel or purchases, you’ll be eligible for the following benefits:

• Trip cancellation and interruption insurance: Get reimbursed up to $10,000 per covered traveler and $20,000 per trip if your trip is cancelled or cut short by a covered situation
• Baggage delay insurance: Get reimbursed for up to $100 per day (up to five days) on essential purchases if your bag is delayed more than six hours.
• Travel and emergency assistance: Get access to travel and emergency assistance services (however, you’re responsible for any costs).
• Purchase protection: Get $500 in coverage if eligible new purchases are damaged or stolen within 120 days of purchase.
• Auto rental coverage: If you charge the rental car to your card and decline the rental company’s insurance, you get primary car rental coverage on most vehicles of up to $60,000 for theft or collision. 
• Trip delay reimbursement: If your flight or other common carrier is delayed more than 12 hours, you can get reimbursed up to $500 for meals and lodging per covered traveler.
• Extended warranty protection: Receive an additional year of warranty coverage on warranties that are three years or less.

American Express Platinum Perks

The Amex Platinum also comes with a range of travel benefits, including hotel and rental car elite status and travel protections:

• Marriott Bonvoy Gold Elite status (enrollment required): With this status, you’ll receive room upgrades (subject to availability), 25% more points on paid stays and priority late 2 p.m. checkout when available.
• Hilton Honors Gold status (enrollment required): Hilton Gold comes with many benefits, including bonus points on paid stays, a free fifth night when you book a standard room using only points, room upgrades when available, free breakfast or a food and beverage credit at many Hilton properties, and more.
• Leaders Club Sterling Status from The Leading Hotels of the World (enrollment required): Get five room upgrades a year, daily continental breakfast for two and a 5% bonus on Leaders Club points.
• Premium status with select car rental programs (enrollment required): Get extra benefits when you rent a car with Avis, Hertz or National.
• Premium Global Assist Hotline: When you’re more than 100 miles from home, use this hotline to get medical, legal or financial referrals. 
• Platinum Travel Service: Receive tailored recommendations and a custom itinerary for your travels.
• Car rental loss and damage insurance: Get secondary insurance when you decline the collision damage waiver at the rental counter and use your card to pay for the rental.
• Trip delay insurance: If your round-trip travel is delayed more than six hours for a covered reason, you can get up to $500 in reimbursement per covered traveler for meals and lodging.
• Trip cancellation and interruption insurance: Prepaid and nonrefundable round-trips can be covered up to $10,000 per trip (maximum $20,000 every 12-month period).

CardCritics™ Opinion

The luxury features of the Amex Platinum really shine in this category. Premium status for select hotels and rental car companies can save you money and add a lot to your trip. 

However, the Sapphire Preferred Card offers better car rental insurance. Amex Platinum cardholders will have to opt-in to Amex’s Premium Car Rental Protection for an extra fee to get better car rental coverage.

Fees and Costs 

While no one likes to pay an annual fee, it’s hard to find a card with great benefits without one. If you’re using the card’s perks, the benefits should outweigh the annual fee. There are also other fees to consider, including late fees, foreign transaction fees and annual percentage rates (APRs). 

If you’re paying off your balance each month in full, you won’t have to worry about late fees or credit card interest, but it’s still important to know what your card might cost you if you fail to do so. 

Amex Platinum Fees and Costs 

Besides the $895 annual fee, the Amex Platinum has several other fees associated with it, including: 

• APR: See Pay Over Time APR
• Foreign transaction fee: None
• Cash advance: $10 or 5% of the cash advance amount, whichever is higher
• Late payment: Up to $40
• Returned payment: Up to $40

The Amex Platinum normally requires you to pay your balance in full each month, but for eligible charges, it also has a Pay Over Time feature that allows eligible users to carry a balance with interest up to their Pay Over Time Limit. 

Sapphire Preferred Card Fees and Costs 

At $95, the Chase Sapphire Preferred annual fee is competitive for a travel credit card. There are other fees to keep in mind, however:

• APR: 19.74% - 27.99% Variable
• Foreign transaction fee: None
• Balance transfers: Either $5 or 5% of each transfer, whichever is greater
• Cash advances: Either $10 or 5% of the amount of each transfer, whichever is greater 
• Returned payment: Up to $40
• Late payment: Up to $40

CardCritics™ Opinion 

Apart from the annual fee, the Chase Sapphire Preferred Card and Amex Platinum are quite similar. Our overall choice is the Sapphire Preferred Card because it comes with generous benefits and rewards for a manageable $95 a year. 

How To Choose Between the Chase Sapphire Preferred Card vs. American Express Platinum 

When comparing the American Express Platinum versus Chase Sapphire Preferred, figuring out what benefits you will use is essential. While the Sapphire Preferred Card has a more budget-friendly annual fee, the Amex Platinum comes with more benefits to help justify its higher cost. 

The Amex Platinum’s benefits take some effort to maximize, but if you’re able to use them all, you’ll come out well ahead of the annual fee. If not, paying that high fee doesn’t make sense. Regardless of your choice, both the Amex Platinum and Sapphire Preferred Card have hefty welcome offers that can kick-start your points earning. 

Another factor to consider is your spending and travel habits. The Sapphire Preferred Card has more bonus categories, and 1 point is worth up to 1.75 cents through Chase Travel. But if premium perks like Amex’s airport lounge access are important to you, the Amex Platinum may be worth it even with its lower earning and redemption rates in some cases. 

Other Cards To Consider

If you’re interested in the partnerships Chase offers, but you’re looking for a premium credit card, consider the Chase Sapphire Reserve®. With a $795 annual fee, it’s slightly cheaper than the Amex Platinum and offers benefits and perks worth more than $2,700 in annual value. 

Fans of American Express who are looking for a lower annual fee should consider the American Express® Gold Card, an advertising partner. It charges an annual fee of $325 but has high earning rates at restaurants and U.S. supermarkets. The Amex Gold is worth it if you can take advantage of its strong benefits that offer more than $500 in annual value.

The information related to the Chase Sapphire Reserve® was collected by CardCritics™ and has not been reviewed or provided by the issuer of this product/card. Product details may vary. Please see issuer website for current information. CardCritics™ does not receive a commission for this product.

For the Premium Global Assist Hotline on the American Express Platinum Card®, you can rely on Global Assist Hotline 24 hours a day / 7 days a week for medical, legal, financial or other select emergency coordination and assistance services while traveling more than 100 miles away from your home. Plus, the Premium Global Assist Hotline may provide emergency medical transportation assistance and related services. Third-party service costs may be your responsibility. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. If approved and coordinated by Premium Global Assist Hotline, emergency medical transportation assistance may be provided at no cost. In any other circumstance, Card Members may be responsible for the costs charged by third-party service providers.

For the Car Rental Loss & Damage Insurance on the American Express Platinum Card®, Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply.Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

For the Trip Delay Insurance on the American Express Platinum Card®, Up to $500 per Covered Trip that is delayed for more than 6 hours; and 2 claims per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

For the Trip Cancellation and Interruption Insurance on the American Express Platinum Card®, The maximum benefit amount for Trip Cancellation and Interruption Insurance is $10,000 per Covered Trip and $20,000 per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

Frequently Asked Questions About the Chase Sapphire Preferred vs. Amex Platinum