Amex Platinum vs Chase Sapphire Reserve 2024 | Best Card

Comparing the Chase Sapphire Reserve® Card (review) vs the The Platinum Card® from American Express (review) is a fun exercise in comparing two of the ultimate luxury travel cards available. Military servicemembers and their spouses get both of these travel cards with waived annual fees!

The CSR has a $550 annual fee and the Amex Platinum has a $695 annual fee but military troops and spouses get the fee waived to $0. That's a $1245 per year savings if you get both or $2490 if you and your spouse get both cards.

Assuming you're married and both spouses get both cards, over 10 years you save $24,900 in annual fees and still access all of the perks of these cards.

Let's compare the Amex Platinum vs the Chase Sapphire Reserve on several different factors:

• Chase Ultimate Rewards vs AMEX Membership Rewards
• Hotel and airline transfer partners
• Spending bonus categories
• Value of welcome bonus
• Annual benefits like travel credits
• Rental Car and Trip Insurance
• Airport Lounge Access
• Annual fees and foreign transaction fees

One thing we won't have to worry about for military servicemembers is the annual fee. Both Amex and Chase waive all personal card fees for active duty military and their spouses!

Check out my full Chase Sapphire Reserve military review and the Amex Platinum military review. Annual fees are waived on both cards for both military spouses and the active duty Space Force Guardian, soldier, sailor, airman, Marine, or coast guardian.

These travel credit cards offer excellent transfer partners, card membership rewards, annual recurring benefits like travel credits, lounge access, travel and rental car insurance. Let's get into it…

Which is better: Amex Platinum or Chase Reserve?

Chase Ultimate Rewards vs Amex Membership Rewards

Ultimate Rewards and Membership Rewards points are the most valuable credit card reward points because of how flexible they are. You can use these flexible credit card points to:

• Pay for items on Amazon with points
• Pay for charges on the credit card account
• Buy gift cards
• Cash out the points and receive a check through the mail
• Book travel with the points through the Amex or Chase Travel℠
• Transfer the points to airline or hotel travel partners to maximize value

When you first get into the credit card travel hobby, it can be tempting to cash out your points for cash. While this can be a quick and easy way to earn some extra money, it does not extract the best value from your points.

The cash value of Chase points is 1 cent when cashed out in the Chase Ultimate Rewards Portal, available at UltimateRewards.com.

Amex points are a bit harder to cash out, but you can cash them out if you have an Amex Platinum Card for Charles Schwab. The Schwab Platinum is a separate card and product to the regular AMEX Platinum. The cash value of Amex points is 1.1 cents when cashed out through a Schwab AMEX Platinum.

Best Use of Chase or Amex Points

The most valuable use of credit card points is transferring the points to the Amex or Chase transfer partners. I have received anywhere from 3-11+ cents per point, making 100,000 Amex or Chase points worth $3000-$11,000+ of travel value!

Currently Chase has 13 Ultimate Rewards transfer partners and American Express has 22 Membership Rewards transfer partners.

Since both credit card reward programs offer different transfer opportunities, it makes sense to to have both cards. Which card you should get first depends on where you are more likely to transfer points to.

For instance, many US government flights are operated by United Airlines. It might make sense to have some Chase points stocked up so you can transfer the UR points to United and upgrade your ticket.

You can combine Chase UR points between accounts in the same household, like a husband and wife. With AMEX you cannot combine MR points but you can transfer points to the same frequent flyer or hotel loyalty program account, effectively allowing you to combine points with your spouse.

CSR vs Platinum Reward Categories

Both cards earn extra reward points in different but similar categories. The main Sapphire Reserve earning category is 3x points on dining and travel. This is a great catch all bonus category.

The AMEX Platinum earns 5x points on airfare purchased directly with the airline or booked through amextravel.com.

If you value MR and UR points at about 2 cents per point, that means you can make about a 6% return on dining and travel spending and a 10% return on airline tickets.

Amex Platinum vs Chase Sapphire Reserve Travel Credits

Chase Sapphire Reserve is the clear winner in this category. The $300 annual travel credit is extremely flexible, easy to use, and doesn't require any registration. It refreshes every year on your card membership anniversary.

Here's an example of how quickly the CSR travel credit posts and how easy it is to use:

I pre-paid for a rental car on Priceline for $203.50 and I took an Uber and paid $30.31. My CSR travel credit reloads in December every year. The day the charges posted to my account, the $300 CSR travel credit kicked in and zeroed out those charges. Easy!

The AMEX Platinum airline incidental fee credit is more unwieldy and difficult to maximize the value from. You can only select one airline a year to use the credit on. You must sign up for the benefit and activate it on americanexpress.com before you use it.

Airline incidental fee charges that count towards the AMEX platinum credit include:

• Airline tickets
• Upgrades
• Mileage points purchases
• Mileage points transfer fees
• Gift cards
• Duty-free purchases
• Award tickets

Which is better – Amex Platinum or Chase Sapphire Reserve?

The cash value of Platinum and CSR 100,000 and 60,000 points are:

If you transfer Chase and AMEX points to a travel partner, you can get significantly more value from the points. Here are some examples:

Chase and Amex points are consistently valued at about the same 2 cents per point across the web. I usually use this as a benchmark when trying to make a travel redemption.

If I'm not getting 2 cents per point, I will frequently make the booking with cash and save my points for a big redemption, like ANA first class at 11 cents per point or luxury Hyatt hotels at 4+ cents per point. You can learn more about maximizing your military points in my 100% free course.

CSR and Amex Platinum Annual Benefits

The Uber credit is paid at $15 per month and $35 in December. Because my wife and I have multiple Amex Platinum cards, we received $175 in December Uber credits last year. Hard to justify cooking when delivery is free!

Other recurring benefits for both cards include airport lounge access, travel insurance, and (only for military servicemembers and spouses), a waived annual fee.

CSR vs Amex Platinum Airport Lounge Access

American Express Platinum grants you access to many airport lounges.

• American Express Centurion Lounges
• Delta Sky Club Lounges
• Priority Pass Select Lounges
• Escape Lounges
• Airspace Lounges
• Plaza Premium Lounges
• International American Express Lounges
• Lufthansa Lounges

For Lufthansa and Delta Sky Club, you need to be flying that airline to access the lounge. Otherwise, you just show your AMEX Platinum card, a government ID, and your boarding pass for that day.

The CSR gives you access to Priority Pass lounges and restaurants. When you open the Priority Pass app, you can see a list of lounges and restaurants where you can access for free, usually with up to 2 guests.

At participating Priority Pass restaurants, you usually get $28 off your bill. This is per Priority Pass holder, so if your spouse also gets a CSR, you could get $56 of free food and drink. Make sure you check the app for details on what you can and cannot order!

The AMEX Platinum cut the Priority Pass restaurant benefit in Aug 2019, meaning the Chase Sapphire Reserve is definitely the winner of which Priority Pass you should get. However, you still need the AMEX Platinum to access Centurion, Delta, and Lufthansa lounges, so make sure you apply for both cards!

Chase Reserve vs Amex Platinum Travel Insurance

To keep it simple, use your CSR for booking rental cars and either card for booking airfare.

The Sapphire Reserve rental car insurance is primary car rental coverage, meaning it kicks in and covers your damages before your regular auto insurance, like USAA or GEICO. AMEX Platinum only offers secondary coverage, meaning it only steps in when your regular car insurance is exhausted.

Sapphire Reserve vs Amex Platinum Military Annual Fee

The American Express Platinum's annual fees are $695 per year. The Chase Sapphire Reserve annual fees are $550 per year.

Both American Express and Chase waive the annual fees on these 2 cards for military servicemembers and spouses. Yes, you read that right:

Military servicemembers and spouses pay $0 annual fees on the American Express Platinum and Chase Sapphire Reserve.

The annual fees are completely waived as long as you are on active duty service or orders. For more information see my detailed explanation of the Chase MLA policy and the Amex MLA policy.

Is It Worth Having Both the Amex Platinum and Chase Sapphire Reserve?

Yes! Every military servicemember and their husband or wife should have their own AMEX Platinum and Chase Sapphire Reserve.

Both cards have their strengths and weaknesses. Together they have very complementary reward categories, so you can earn much more than 1 point per dollar spent on airlines, hotels, travel, and restaurants.

My wife and I both have our own Amex Platinum and Chase Sapphire Reserve cards. We pay no annual fees on these 4 cards since I am active duty military.

Here is the best way to maximize your points earning with these cards after you receive your welcome bonus:

• Book all airline tickets and airfare directly with the airline or through amextravel.com with your AMEX Platinum card: 5x points
• Book your rental cars with your Sapphire Reserve to use the free rentral car insurance and earn 3x points
• Pay for your hotels, taxis, public transit, and all other travel expenses on your CSR to earn 3x points
• Put all of your restaurants, cafes, bar tabs, and other dining on your CSR to earn 3x points
• Everything else put on the card (CSR or Platinum) that earns the flexible points (MR or UR) you need the most

Best Travel Credit Card for Military Servicemembers

Military servicemembers and their spouses should each get their own AMEX Platinum and Chase Sapphire Reserve. These are the 2 best travel credit cards for military families.

Don't just add your spouse as an authorized user to your card! He or she is able to get their own welcome bonus and earn their own annual perks.

What are you waiting for? Who knows how much longer these annual fees will be waived for military servicemembers? Get these cards before this amazing benefit goes away!

Learn more about applying for the Platinum Card from American Express.

The Platinum Card^® from American Express
Learn how to apply on our partner's secure site

• $695 annual fee.* See more details about military protections for you and your spouse 
• Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership
• Earn 5x points on airfare booked directly with airline or on amextravel.com up to $500,000 per calendar year
• Earn 5x points on prepaid hotels at amextravel.com
• $200 Annual Hotel Credit: Get $200 back in statement credits each year on prepaid Fine Hotels + Resorts^® or The Hotel Collection bookings through American Express Travel using your Platinum Card^®. Note that The Hotel Collection requires a minimum two-night stay
• $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month when you pay for eligible purchases with the Platinum Card^® at your choice of one or more of the following providers: Disney+, a Disney Bundle, ESPN+, Hulu, Peacock, The New York Times, and The Wall Street Journal. Enrollment required.
• $200 Uber Cash: Uber VIP status and up to $200 in Uber savings on Uber Eats and rides every year. Only available to the basic card member, Terms Apply
• $200 Airline Fee Credit: Up to $200 in statement credits per calendar year in baggage fees and more at 1 qualifying airline
• $199 CLEAR® Plus Credit: CLEAR® Plus helps to get you to your gate faster at 50+ airports nationwide and get up to $199 back per calendar year on your Membership (subject to auto-renewal) when you use your Card. CLEARLanes are available at 100+ airports, stadiums, and entertainment venues.
• This is a MAJOR time saver–$100 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA PreCheck® official enrollment provider) application fee, when charged to your Platinum Card®! Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
• Complimentary access to the American Express Global Lounge Collection® lets you visit more than 1,400 airport lounges across 140 countries and counting. You can love the lounge life with more airport lounge options than any other credit card issuer on the market. As of 03/2023.
• $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership with a statement credit after you pay for Walmart+ each month with your Platinum Card. Cost includes $12.95 plus applicable local sales tax.
• Up to $100 annual Saks Fifth Avenue credit, enrollment required
• No foreign transaction fees
• The Platinum Card^® from American Express – learn how to apply
• Read my full review of the Amex Platinum card for military, terms apply

Learn more about the Chase Sapphire Reserve or Chase Sapphire Preferred.

Chase Sapphire Preferred^® Card
Learn how to apply on our partner's secure site

• Get up to $1,050 in Chase Travel℠ value. Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening. That's worth $750 when redeemed through Chase Travel. Plus, get up to $300 in statement credits on Chase Travel purchases within your first year.
• 5x points on travel purchased through Chase Travel℠
• 3x points on dining (includes takeout, delivery, and dine-in), select streaming services and online groceries
• 2x on all other travel purchases
• 1x on all other purchases
• $50 Annual Chase Travel Hotel Credit
• Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠ . Example- 60,000 points would be worth $750 toward travel.
• No foreign transaction fees, great for overseas OCONUS assignments, TDY, and PCS
• Primary rental car insurance coverage & trip cancellation/interruption insurance, and more.
• DashPass access is complimentary which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
• Upgrade to a Chase Sapphire Reserve after 1 year (compare Reserve vs Preferred)
• $95 annual fee waived for military and spouses with Chase Military Lending Act
• Member FDIC

Amex Platinum vs Chase Sapphire Reserve FAQ