Chase Sapphire Preferred Card vs. American Express Platinum: Budget-Friendly or Premium Perks?
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Written by
Katie Oelker
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Edited by
Jasmin Baron
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 Platinum Card® from American Express, 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
Annual Fee
Purchase and Balance Transfer APR
Welcome Offer
Ongoing Rewards
5 points per dollar on prepaid hotels booked with American Express Travel®.
1 point per dollar on all other purchases.
Terms apply.
Pros & Cons
- Generous intro bonus
- Primary rental car coverage
- 10% Anniversary Bonus
PROS
- Lounge access or free checked bags are not available
- No intro APR for purchases or balance transfers
- Complicated rewards
CONS
- American Express Global Lounge Collection Access
- Massive Welcome Offer Opportunity
- Statement Credit Opportunities
PROS
- Steep Annual Fee
- Brand-specific statement credits may not appeal to some
CONS
Learn More
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 Card Welcome Offer
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 up to $1,312.
Amex 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 option 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 opportunity, 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 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 Card
Earning rewards with Sapphire Preferred Card doesn’t stop with the welcome offer. 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 Amex 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®, up to $500,000 in purchases per year, then 1x
- 5x points on prepaid hotels booked through AmexTravel.com
- 1x points on other eligible 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 Card
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 and dining: Use points to pay for experiences and exclusive dining reservations (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.
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
The Amex Platinum has a generous number of premium perks, including:
- $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.
- 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, it can be easy to justify. It is one of the best American Express cards out there.
My own family has an Amex Platinum Card and we’ve used the $200 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. That totals $700, covering the annual fee, even without the other benefits.
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 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: 19.99% - 28.24% 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, Chase Sapphire Preferred Card and Amex Platinum costs 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 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.
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.
Frequently Asked Questions About the Chase Sapphire Preferred vs. Amex Platinum
Which is better, the Sapphire Preferred Card or Amex Platinum card?
The Sapphire Preferred Card may be better if you’re looking for a lower-fee credit card that still offers some exceptional travel-related perks. If you think you’ll benefit more from the niche rewards of Amex Platinum, and you don’t mind the higher annual fee, it could be the better option.
What is the Chase equivalent to the Amex Platinum?
The Chase Sapphire Reserve® is perhaps the closest equivalent to the Amex Platinum. Both are high-end credit cards with extensive travel benefits and rewards. The Sapphire Reserve has a $795 annual fee.
Is it difficult to be approved for the Sapphire Preferred Card or Amex Platinum?
Both the Chase Sapphire Preferred’s and Amex Platinum’s credit score typically need to be good to excellent to be considered for approval.
What income do you need for the Amex Platinum Card?
American Express doesn’t list a specific income to qualify for the Amex Platinum. It will look at your overall financial profile when considering your application.
