Two cards. Combined annual fees of $1,245. The question isn't which one is better — it's which one fits your spending, travel style, and how much you'll actually use the perks.
This is a no-nonsense breakdown. No filler. Just the numbers.
The Cards at a Glance
| Feature | Amex Platinum | Chase Sapphire Reserve |
|---|---|---|
| Annual Fee | $695 | $550 |
| Welcome Bonus | 80,000–100,000 pts | 60,000–75,000 pts |
| Points Currency | Membership Rewards | Ultimate Rewards |
| Base Earn Rate | 1x on most spending | 1x on most spending |
| Travel Earn Rate | 5x flights booked direct/Amex Travel | 3x on all travel |
| Dining Earn Rate | 4x at restaurants (Amex Gold does this better) | 3x on dining |
| Travel Credit | $200 airline fee credit + $200 hotel credit | $300 travel credit (broad) |
| Lounge Access | Centurion + Priority Pass | Priority Pass |
| Global Entry/TSA | $100 credit | $100 credit |
Annual Fee Reality Check
The Amex Platinum's $695 sticker price sounds brutal. But its credits are designed to offset most of it — if you actually use them.
Amex Platinum annual credits:
- $200 airline fee credit (select one airline, covers incidentals like checked bags and seat upgrades)
- $200 prepaid hotel credit (Fine Hotels + Resorts or Hotel Collection)
- $240 digital entertainment credit ($20/mo for Disney+, Hulu, ESPN+, NYT, Peacock, etc.)
- $155 Walmart+ membership credit
- $189 CLEAR membership credit
- $100 Saks Fifth Avenue credit ($50 semi-annually)
- $300 Equinox credit
If you can use all of them: those credits total roughly $1,384 in value against a $695 fee. Net cost: negative.
If you'll use half: net cost around $0.
If you'll use two credits: you're overpaying.
Chase Sapphire Reserve annual credits:
- $300 travel credit — auto-applied to any travel purchase (airlines, hotels, Airbnb, Uber, trains, tolls)
- That's it for recurring credits. Much simpler.
The $300 travel credit makes the CSR's effective fee $250. If you spend any money on travel, you'll hit that without thinking.
Lounge Access: Centurion vs. Priority Pass
This is where the Amex Platinum wins decisively for frequent flyers.
Amex Platinum lounge access:
- Centurion Lounges (37 locations, mostly major US airports + international hubs)
- Priority Pass (1,400+ lounges worldwide)
- Delta Sky Clubs (when flying Delta)
- Lufthansa Business and Senator Lounges
- Plaza Premium, Escape, and Airspace Lounges
The Centurion Lounges are objectively better than most airport lounges — full bar, hot food, quiet spaces, showers at select locations. If you fly through JFK, SFO, LAX, ORD, MIA, or DFW regularly, the Centurion Lounge alone can justify the card.
Catch: Effective February 2024, Amex Platinum cardholders pay $50 per guest at Centurion Lounges (up from free). Traveling with a partner or family? That adds up fast.
Chase Sapphire Reserve lounge access:
- Priority Pass Select (1,400+ lounges)
- No Centurion access
- Sapphire Lounge by The Club — available at select airports (Boston BOS, Hong Kong HKG, Las Vegas LAS, New York LGA, Philadelphia PHL, Hong Kong, and a few more)
The Sapphire Lounges are newer and genuinely nice. But there aren't many of them yet.
Bottom line: If you fly domestically through major US hubs 4+ times per year, the Centurion Lounge access alone is worth $200–$300 in food and drinks you'd otherwise buy in the terminal.
Travel Insurance: CSR Has the Edge
This is one area where the Chase Sapphire Reserve clearly outperforms.
| Coverage | Amex Platinum | Chase Sapphire Reserve |
|---|---|---|
| Trip Cancellation | $10,000/trip | $10,000/trip |
| Trip Delay | 6+ hour delay, $500/person | 6+ hour delay, $500/person |
| Baggage Delay | $500 (3+ hour delay) | $100/day, up to $500 (6+ hour delay) |
| Primary Rental Car | No (secondary only) | Yes (primary) |
| Medical Evacuation | No | Yes, up to $100,000 |
The primary rental car coverage on the CSR is significant. With Amex Platinum, your personal auto insurance is the primary payer — meaning a claim affects your own insurance rates. With CSR, the card covers it directly. For anyone who rents cars frequently, this alone can save hundreds per year in CDW fees.
Earning Points: Which Card Earns Faster?
Neither card is your best earner for everyday spending — that's what cards like the Amex Gold (4x dining/groceries) or Chase Sapphire Preferred exist for.
Amex Platinum earns:
- 5x on flights booked directly with airlines or through Amex Travel
- 5x on prepaid hotels booked through Amex Travel
- 1x on everything else
Chase Sapphire Reserve earns:
- 3x on all travel (flights, hotels, Airbnb, Uber, rental cars, trains)
- 3x on dining worldwide
- 1x on everything else
For most people who travel and eat out: the CSR earns more in practical use. The Amex Platinum's 5x on flights is powerful for heavy business travelers who book direct, but 1x on hotels and dining limits it.
Transferring Points: Both Are Excellent
Both cards connect to major airline and hotel transfer partners, and both transfer 1:1 in most cases.
Amex Membership Rewards transfer partners (select):
- Air Canada Aeroplan
- ANA (excellent for Star Alliance awards)
- British Airways Avios
- Delta SkyMiles
- Avianca LifeMiles
- Air France/KLM Flying Blue
- Singapore Airlines KrisFlyer
- Marriott Bonvoy (1:1)
Chase Ultimate Rewards transfer partners (select):
- United MileagePlus
- Southwest Rapid Rewards
- Air Canada Aeroplan
- British Airways Avios
- Air France/KLM Flying Blue
- Hyatt (1:1 — best hotel transfer in the game)
- Singapore Airlines KrisFlyer
Chase's Hyatt partnership is unmatched for hotel value. A Hyatt Park Hyatt New York room worth $700/night can be had for 20,000–30,000 points. That's roughly 2–3 cents per point — among the highest redemptions in the industry.
Amex's ANA and Singapore partnerships are premier for long-haul business class, where a Business Class to Japan can go for 75,000–85,000 points round-trip.
Who Should Get Which Card?
Choose the Amex Platinum if:
- You fly through major US airports (JFK, SFO, LAX, ORD, MIA) and value Centurion Lounge access
- You buy primarily direct airline tickets and can earn 5x frequently
- You'll actually use $200+ in airline fee credits annually
- You're interested in Fine Hotels + Resorts benefits (room upgrades, late checkout, breakfast)
- You have the Amex Gold already for dining and groceries — and the Platinum fills the premium travel gap
Choose the Chase Sapphire Reserve if:
- You want simpler benefits that auto-apply (the $300 credit hits everything travel-related)
- You rent cars regularly and want primary coverage
- You want 3x on both travel AND dining
- You're building a Hyatt strategy — the Hyatt transfer is best-in-class
- You want strong travel insurance that includes medical evacuation
Consider holding both if:
Serious travel hackers often hold both cards. The CSR handles the broad 3x travel/dining earning + superior insurance. The Platinum handles Centurion access + premium hotel perks. The math works if you can maximize all the credits on both cards.
The Welcome Bonuses Are Worth Considering Separately
Current offers vary, but typical welcome bonuses:
- Amex Platinum: 80,000 Membership Rewards (worth ~$1,200–$1,600 in flights via transfers)
- Chase Sapphire Reserve: 60,000 Ultimate Rewards (worth ~$900–$1,200 via transfers, or $900 at Chase Travel 1.5¢/pt)
Both bonuses have minimum spend requirements (typically $6,000 in 3 months for CSR; $8,000 in 6 months for Amex Platinum). Check current offers before applying — these fluctuate.
Planning a Trip With Either Card's Points
Both cards are most valuable when you're actually using the points for travel. If you're sitting on 80,000 Membership Rewards and haven't figured out how to use them, they're just numbers on a screen.
The best approach: plan your trip first, then reverse-engineer the best way to spend points for it. Use Faroway to build your itinerary — it'll show you flights, dates, and hotels that fit your plan. Then go find those same flights/hotels via transfer partners and award space.
For example: building a 10-day Japan trip on Faroway, then booking the long-haul flights with ANA miles transferred from Amex, and using Hyatt points (from Chase) for two nights at the Park Hyatt Tokyo — that's premium travel at a fraction of retail.
Bottom Line
Amex Platinum wins on premium airport experiences (Centurion Lounges), hotel perks, and the prestige factor. It rewards people who fly often and can max out $800+ in credits.
Chase Sapphire Reserve wins on simplicity, flexibility, travel insurance, rental cars, and the Hyatt transfer partnership. The $300 travel credit is the most frictionless benefit in premium travel cards.
Neither card is "better" in a vacuum. If you travel 4+ times a year and spend $10k+/year on combined travel and dining, either card justifies itself. If you're more casual, start with the CSR — it's harder to leave money on the table with a single broad credit and 3x on two categories you use anyway.
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Written by
Faroway Team
The Faroway team is passionate about making travel planning effortless with AI. We combine travel expertise with cutting-edge technology to help you explore the world.
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