Introduction: Premium Travel Cards in 2025

Let’s get real—when you’re looking at premium travel credit cards with annual fees north of $500, you need to know you’re getting serious value in return. Today at Credit Card Wisdom, we’re putting the two heavyweights—the Chase Sapphire Reserve and the American Express Platinum—head to head in the most complete comparison you’ll find anywhere.

If you’ve been researching premium travel cards (and I suspect you have!), you’ve likely encountered these two prestigious options repeatedly. Both come with impressive perks that can transform your travel experience, from airport lounge access to generous statement credits and elevated rewards on travel purchases.

But here’s the honest truth—these cards aren’t for everyone, and they’re certainly not interchangeable. Your spending habits, travel preferences, and what you value most will determine which card (if either) deserves a spot in your wallet.

In this comprehensive credit card review, I’m breaking down every detail of the Chase Sapphire Reserve and American Express Platinum Card—from annual fees and rewards structures to the finest details of their premium benefits. My goal? To help you make a confident, well-informed decision that aligns with your financial goals and travel aspirations.

Card Overview & Quick Comparison

At first glance, both premium travel cards look impressive—and they are! But as we dive deeper into this credit card review, you’ll see that each card has distinct strengths that appeal to different types of travelers. The Chase Sapphire Reserve excels with its simple, high-value travel credit and versatile rewards program, while the Amex Platinum shines with unmatched airport lounge access and a suite of luxury travel benefits.

Let’s break down each element of these cards to help you decide which premium travel card deserves a place in your wallet.

Annual Fees & Statement Credits: Getting Your Money’s Worth

Let’s address the elephant in the room first—these annual fees are substantial! The Chase Sapphire Reserve charges $550 annually, while the Amex Platinum comes in even higher at $695. But before you experience sticker shock, let’s break down how the various statement credits can offset these fees.

Chase Sapphire Reserve: Straightforward Value

The Sapphire Reserve’s $550 annual fee is partially offset by its straightforward $300 annual travel credit. What I love about this credit is how effortlessly it applies to a wide range of travel purchases—flights, hotels, rental cars, cruises, taxis, and even parking fees. Chase automatically reimburses you until you’ve used the full $300, no hoops to jump through.

This effectively reduces your “true” annual fee to $250, which is much more palatable. The card also includes:

• Complimentary DoorDash DashPass subscription (activate by Dec. 31, 2027)
• $5 in DoorDash credits each month
• $10 monthly Lyft credit in-app
• Global Entry/TSA PreCheck/NEXUS application fee credit (up to $120 every four years)

For regular travelers who also use food delivery services, these credits can quickly bring the effective annual fee down to under $100—making the Chase Sapphire Reserve an excellent value proposition in the premium travel card space.

Amex Platinum: Abundant Credits (With Some Restrictions)

The Amex Platinum takes a different approach with its $695 annual fee, offering a plethora of statement credits across various categories. On paper, these credits exceed $1,500 in value, which would more than offset the annual fee. However, there’s an important caveat: you’ll need to use (and value) most of these benefits to truly justify the cost.

Here’s a breakdown of the major statement credits offered:

• Up to $200 airline incidental fee credit (select one qualifying airline per calendar year)
• Up to $200 hotel credit for Fine Hotels + Resorts or The Hotel Collection bookings
• Up to $200 Uber Cash for U.S. services ($15 monthly with a $20 bonus in December)
• Up to $240 digital entertainment credit (up to $20 monthly with select providers)
• Up to $100 Saks Fifth Avenue credit ($50 Jan-June, $50 July-Dec)
• Up to $189 CLEAR Plus credit
• Up to $155 Walmart+ credit
• Up to $300 Equinox credit
• Up to $300 SoulCycle statement credit
• Global Entry/TSA PreCheck application fee credit (up to $120 every 4 to 4.5 years)

While impressive, the real value depends entirely on your lifestyle. If you already shop at Saks, use Uber regularly, have an Equinox membership, and frequently book luxury hotels, these credits deliver substantial value. However, if you’re altering your spending habits just to use these credits, they may not represent true savings.

The Verdict on Annual Fees

For most travelers, the Chase Sapphire Reserve offers a more straightforward value proposition with its easily applied $300 travel credit. Its effective annual fee of $250 is easier to justify through normal travel and dining spending.

The Amex Platinum requires more intentional use of its various credits, but for luxury travelers who already utilize services like Uber, CLEAR, and premium hotel bookings, it can provide exceptional value despite the higher upfront cost.

Welcome Bonuses Compared: First-Year Value

A generous welcome bonus can significantly offset the first year’s annual fee on premium travel cards. Let’s see how the Chase Sapphire Reserve and Amex Platinum stack up in this category.

The Amex Platinum currently offers a higher welcome bonus in terms of both points and potential value. However, it also requires a significantly higher spending threshold of $8,000 over six months, compared to the Sapphire Reserve’s $5,000 over three months.

What’s particularly valuable about the Sapphire Reserve’s welcome bonus is the ability to redeem points at 1.5 cents each through the Chase Travel portal, guaranteeing a minimum value of $900 for the 60,000-point bonus. With strategic transfers to travel partners, though, both cards’ points can be worth significantly more.

It’s also worth noting that American Express occasionally offers targeted welcome bonuses of up to 150,000 points through their CardMatch tool. If you’re fortunate enough to receive such an offer, it dramatically increases the first-year value proposition of the Platinum card.

Earning Structure & Rewards Value: Maximizing Your Spending

Beyond the welcome bonus, the ongoing earning potential of each card is crucial for long-term value. Let’s examine how the Chase Sapphire Reserve and Amex Platinum reward your everyday spending.

Chase Sapphire Reserve: Broad Travel & Dining Rewards

The Sapphire Reserve excels with its generous and broadly defined bonus categories:

• 10X points on hotels and car rentals purchased through Chase Travel
• 10X points on dining purchases through the Chase portal
• 10X points on Peloton equipment purchases of $150+ (through Dec. 2027, max 50,000 points)
• 5X points on flights purchased through Chase Travel
• 5X points on Lyft rides (through Sept. 2027)
• 3X points on all other travel and dining purchases worldwide
• 1X points on everything else

What makes this earning structure particularly valuable is the broad definition of “travel,” which includes not just airlines and hotels, but also timeshares, campgrounds, car rentals, cruise lines, travel agencies, trains, buses, taxis, limousines, ferries, toll bridges, parking lots and garages.

Similarly, “dining” covers everything from restaurants and cafes to fast food and delivery services. This means you’ll earn 3X points on a huge range of everyday expenses without having to think too hard about which card to use.

Amex Platinum: Focused on Premium Travel

The Amex Platinum’s earning structure is more narrowly focused on specific travel purchases:

• 5X points on flights booked directly with airlines or through Amex Travel (on up to $500,000 per calendar year, then 1X)
• 5X points on prepaid hotels booked through Amex Travel
• 1X points on all other purchases

While the 5X earning rate is excellent for airfare, the Platinum card’s bonus categories are much more limited than the Sapphire Reserve’s. You won’t earn bonus points on dining, car rentals booked directly, cruises, or many other travel expenses unless booked through Amex Travel.

For high-spending travelers who primarily purchase airfare directly from airlines, the Platinum can be lucrative. However, for most consumers with varied spending patterns, the earning structure is less compelling.

Points Valuation & Flexibility

When assessing the value of each card’s rewards program, we need to consider not just how many points you earn, but what those points are worth.

Chase Ultimate Rewards points earned with the Sapphire Reserve are worth 1.5 cents each when redeemed through the Chase Travel portal, setting a solid floor value. They can also be transferred at a 1:1 ratio to 14 airline and hotel partners, potentially yielding even greater value.

Amex Membership Rewards points can be transferred to 21 airline and hotel partners, offering tremendous flexibility. However, when redeemed directly through Amex Travel, they’re worth just 1 cent each for airfare and only 0.7 cents for hotels.

Airport Lounge Access: A Premium Travel Essential

Airport lounge access is one of the most tangible luxuries these premium travel cards offer, providing a peaceful retreat from crowded terminals, complimentary food and drinks, and sometimes even spa services or shower facilities.

Amex Platinum: The Gold Standard for Lounge Access

The American Express Platinum card offers what many consider the most comprehensive lounge access available on any credit card through the American Express Global Lounge Collection:

• Centurion Lounges: Access to Amex’s exclusive, upscale lounges in select airports worldwide, known for chef-designed menus and premium amenities
• Delta Sky Clubs: Access when flying on Delta same-day (limited to 10 visits annually unless you spend $75,000+ on your card)
• Priority Pass Select: Access to 1,300+ lounges worldwide (excluding restaurant locations)
• Plaza Premium Lounges: Access to this global network of premium lounges
• Escape Lounges: Access to these comfortable lounges in select airports
• Airspace Lounges: Access to these boutique lounges where available
• Additional International Lounges: Including Lufthansa lounges in some locations

This comprehensive lounge network is unmatched in the premium credit card space, particularly the access to Centurion Lounges, which are widely regarded as some of the best airport lounges in North America.

Chase Sapphire Reserve: Solid Lounge Benefits

The Chase Sapphire Reserve offers a more streamlined lounge access benefit:

• Priority Pass Select: Access to 1,300+ lounges worldwide, including participating restaurants (a key difference from Amex’s version)
• Chase Sapphire Lounges by The Club: Access to Chase’s growing network of premium lounges

While not as extensive as Amex’s offering, the Sapphire Reserve’s Priority Pass membership includes restaurant locations, which can be extremely valuable. At participating airport restaurants, your Priority Pass membership typically entitles you to $28-32 off your bill (and the same amount for one guest), essentially giving you a free meal during your airport visit.

The Chase Sapphire Lounges are a newer addition and still limited in number, but they’re growing and offer high-quality experiences where available.

Guest Access Policies

It’s important to note that both cards have implemented restrictions on guest access to lounges:

The Amex Platinum now requires cardholders to spend $75,000 annually to bring complimentary guests into Centurion Lounges (otherwise, guests cost $50 each, with up to two children under 18 still free when accompanying the cardholder).

The Chase Sapphire Reserve’s Priority Pass membership allows for two complimentary guests per visit, with additional guests charged at $32 each.

Travel Benefits & Perks: Beyond the Basics

Premium travel cards are defined by the exclusive benefits they offer beyond just points earning and lounge access. Let’s explore the additional travel perks that can enhance your journeys.

Hotel Benefits & Elite Status

Amex Platinum: Luxury Hotel Programs & Elite Status

The Amex Platinum excels with its hotel benefits:

• Fine Hotels + Resorts program: Benefits include noon check-in (when available), guaranteed 4pm late checkout, room upgrades (when available), daily breakfast for two, and unique property amenities (typically a $100 credit)
• The Hotel Collection: For stays of 2+ nights, receive $100 credit and room upgrade when available
• Complimentary Gold status with Hilton Honors and Marriott Bonvoy: Includes benefits like late checkout, enhanced room upgrades, and bonus points on stays
• Hertz President’s Circle status: Skip the counter, get car upgrades, and more

These hotel benefits can deliver substantial value, especially for luxury travelers. A single stay booked through Fine Hotels + Resorts can recoup a significant portion of the annual fee through the included benefits.

Chase Sapphire Reserve: Hotel Benefits

The Sapphire Reserve’s hotel benefits are more limited:

• The Edit by Chase Travel: Includes daily breakfast for two, $25 food or beverage credit, upgraded room when available, and amenities specific to your chosen property
• No automatic elite status with hotel programs

While The Edit offers some nice benefits, it’s not as comprehensive as Amex’s Fine Hotels + Resorts program, and the lack of complimentary elite status is a notable difference.

Air Travel Benefits

Both cards offer a credit for Global Entry or TSA PreCheck application fees (up to $120 every four years), with the Sapphire Reserve also covering NEXUS applications.

The Amex Platinum adds a CLEAR Plus credit (up to $189 annually), helping you bypass both the document check and physical screening lines at select airports—a significant time-saver for frequent travelers.

Exclusive Experiences & Concierge Services

Both cards offer access to exclusive events and concierge services:

• The Amex Platinum provides “By Invitation Only” events and Platinum Concierge for securing hard-to-get restaurant reservations and event tickets.
• The Chase Sapphire Reserve offers “Reserved by Sapphire” experiences, including exclusive access to events and dining experiences.

These exclusive experiences can be incredibly valuable for cardholders who take advantage of them, offering access to events that might otherwise be impossible to attend.

Travel Protection Benefits: When Things Go Wrong

Even the most carefully planned trips can encounter unexpected issues. Premium travel cards offer insurance benefits that can save you thousands in emergencies.

Chase Sapphire Reserve: Comprehensive Protection

The Sapphire Reserve offers some of the most generous travel protections available on any credit card:

• Primary rental car insurance: Coverage up to $75,000 for theft and collision damage
• Trip cancellation/interruption insurance: Up to $10,000 per person and $20,000 per trip
• Trip delay reimbursement: Up to $500 per ticket for delays of 6+ hours or requiring an overnight stay
• Baggage delay insurance: Up to $100 per day for 5 days for delays over 6 hours
• Lost luggage reimbursement: Up to $3,000 per passenger
• Emergency evacuation coverage: Up to $100,000
• Travel accident insurance: Up to $1,000,000
• Emergency medical and dental benefit: Up to $2,500
• Roadside assistance: Up to $50 per service event, 4 times per year

These comprehensive protections make the Sapphire Reserve an excellent choice for travelers concerned about potential disruptions.

Amex Platinum: Solid but Less Comprehensive

The Amex Platinum offers several travel protections, though not quite as comprehensive as the Sapphire Reserve:

• Secondary rental car insurance: Coverage for damage and theft not covered by your personal policy
• Trip cancellation/interruption insurance: Up to $10,000 per trip and $20,000 per account per 12-month period
• Trip delay insurance: Up to $500 per trip for delays of 6+ hours
• Baggage insurance: Up to $2,000 for checked baggage and $3,000 combined for checked and carry-on baggage
• Global Assist Hotline: 24/7 emergency assistance when traveling

While these protections are valuable, the secondary nature of the rental car insurance and the absence of emergency evacuation coverage and medical benefits represent notable differences from the Sapphire Reserve.

Redeeming Points: Flexibility & Value

Earning points is only half the equation—how you redeem them determines their true value. Let’s examine the redemption options for each card’s rewards program.

Chase Ultimate Rewards: Consistent Value & Flexibility

Chase Ultimate Rewards points earned with the Sapphire Reserve offer several redemption options:

• Travel through Chase Travel portal: 1.5 cents per point (50% more value)
• Transfer to travel partners: 1:1 ratio to 14 airline and hotel partners
• Cash back/statement credit: 1 cent per point
• Amazon.com/PayPal purchases: 0.8 cents per point (not recommended)
• Gift cards: Typically 1 cent per point

The 1.5 cents per point redemption rate through the Chase Travel portal is particularly valuable, as it guarantees a solid redemption floor no matter what travel you book—from economy flights to luxury hotels. This simplicity makes Chase points excellent for travelers who prefer straightforward redemptions without complex award charts.

Chase’s transfer partners include valuable options like United MileagePlus, Southwest Rapid Rewards, World of Hyatt, and Marriott Bonvoy. The World of Hyatt transfer option is particularly valuable, as Hyatt points typically deliver excellent value per point.

American Express Membership Rewards: Transfer Power

Amex Membership Rewards points offer these redemption options:

• Transfer to travel partners: Typically 1:1 ratio to 21 airline and hotel partners (some exceptions)
• Airfare through Amex Travel: 1 cent per point
• Hotels through Amex Travel: 0.7 cents per point
• Statement credit: 0.6 cents per point (not recommended)
• Gift cards: Varies, typically 0.7-1 cent per point

While Amex has more transfer partners (21 vs. Chase’s 14), the direct redemption options through Amex Travel offer less value than Chase’s travel portal. To maximize Membership Rewards points, you’ll need to transfer them to airline partners like ANA Mileage Club, Air Canada Aeroplan, or Delta SkyMiles for high-value redemptions.

This transfer-centric approach can yield tremendous value for international business or first-class flights, but it requires more knowledge of award availability and transfer partners’ sweet spots.

Transfer Partner Comparison

Both programs share several airline transfer partners, including Air France/KLM Flying Blue, Emirates Skywards, Singapore Airlines KrisFlyer, and Virgin Atlantic Flying Club.

Notable unique partners for Chase include United Airlines, Southwest Airlines, and World of Hyatt. Exclusive Amex partners include Delta SkyMiles, ANA Mileage Club, Avianca LifeMiles, and Hilton Honors.

Who Should Get Each Card?

Now that we’ve broken down the key features of both premium travel cards, let’s identify which travelers would benefit most from each option.

The Chase Sapphire Reserve is ideal for:

• Frequent but budget-conscious travelers who want premium benefits with a straightforward value proposition
• Diners and foodies who will benefit from the 3X points on a broad range of dining expenses
• Travelers who value simplicity and prefer the easy-to-use $300 travel credit
• Those concerned about travel disruptions who will benefit from the card’s industry-leading travel protections
• Travelers who visit airports with Priority Pass restaurants, as these can provide significant additional value
• Rideshare users who will benefit from Lyft credits and bonus points
• Those new to premium travel cards who want a more accessible entry point ($550 vs. $695 annual fee)

The American Express Platinum is ideal for:

• Frequent flyers who regularly purchase airfare directly from airlines
• Luxury travelers who will use Fine Hotels + Resorts benefits and value elite hotel status
• Airport lounge enthusiasts, especially those who frequent airports with Centurion Lounges
• Those who can fully utilize the card’s numerous statement credits across various merchants
• Delta Air Lines loyalists who value access to Delta Sky Clubs when flying Delta
• Shoppers at luxury retailers like Saks Fifth Avenue who will use the semi-annual credits
• International travelers who can benefit from the broader global lounge network

Consider both cards if you:

Some travelers might actually benefit from holding both premium travel cards despite the combined annual fees of $1,245. This could make sense if:

• You travel very frequently (15+ times per year) and highly value lounge access
• You can fully utilize most of the statement credits on both cards
• You spend heavily on both airfare (Amex 5X) and other travel/dining categories (Chase 3X)
• You value having access to both cards’ transfer partner portfolios for maximum award travel flexibility

For most travelers, however, choosing one premium travel card that best aligns with your spending habits and travel preferences will provide better overall value.

Calculating the Real Value: Is Either Card Worth It?

Let’s do some honest math to determine if either premium travel card is worth its annual fee for different types of travelers.

Chase Sapphire Reserve Value Calculation

Annual fee: $550

Guaranteed value:

• $300 travel credit: -$300 (assuming full use)
• Global Entry/TSA PreCheck credit: -$30 (amortized over 4 years)
• DoorDash credits: -$60 ($5 per month)
• Lyft credits: -$120 ($10 per month)

Remaining effective annual fee: $40

Variable value (depends on usage):

• Priority Pass membership: $300+ value (if used 6+ times per year)
• Bonus points on travel/dining: $200+ (assuming $10,000 annual spend at 3X, worth at least 2¢ per point)
• Travel protections: Potentially thousands in emergency situations

For most travelers who use the card regularly, the Sapphire Reserve easily justifies its annual fee through the combination of statement credits and ongoing rewards.

Amex Platinum Value Calculation

Annual fee: $695

Guaranteed value (if you already use these services):

• $200 airline fee credit: -$200 (assuming full use)
• $200 hotel credit: -$200 (assuming full use)
• $200 Uber credits: -$200 (assuming full use)
• $189 CLEAR Plus credit: -$189 (assuming full use)
• $100 Saks credits: -$100 (assuming full use)
• Global Entry/TSA PreCheck credit: -$30 (amortized over 4 years)

Optional credits (may require changing spending habits):

• $240 digital entertainment credit: -$240 (if you use eligible services)
• $155 Walmart+ credit: -$155 (if you use the service)
• $300 Equinox credit: -$300 (if you use Equinox)

Remaining effective annual fee: Potentially negative $919 (if all credits are fully utilized)

Variable value (depends on usage):

• Centurion Lounge access: $400+ value (if used 8+ times per year)
• Priority Pass/Delta Sky Club access: $300+ value (if used 6+ times per year)
• Hotel elite status benefits: $200+ annually (if you stay at Marriott/Hilton properties)
• Fine Hotels + Resorts benefits: $100+ per stay
• Bonus points on airfare: $150+ (assuming $5,000 annual airfare spend at 5X, worth 2¢ per point)

The key for the Amex Platinum is whether you’ll organically use most of the statement credits. If you already use services like Uber, CLEAR, and shop at Saks Fifth Avenue, the card can provide tremendous value despite its high annual fee. If you’d be changing your spending habits just to use the credits, the actual value is much lower.

Alternative Premium Cards to Consider

If neither the Chase Sapphire Reserve nor the Amex Platinum seems like the perfect fit, consider these alternative premium travel cards:

1. Capital One Venture X

With a lower $395 annual fee, 10X miles on hotels and rental cars booked through Capital One Travel, 5X on flights booked through Capital One Travel, and 2X on all other purchases, the Venture X offers competitive value. It includes a $300 annual travel credit for Capital One Travel bookings, Priority Pass and Capital One Lounge access, and a 10,000-mile anniversary bonus.

2. Chase Sapphire Preferred

At just $95 annually, the Sapphire Preferred offers 3X points on dining and online grocery purchases, 3X points on select streaming services, 2X points on all travel purchases, and a $50 annual hotel credit. While it lacks premium benefits like lounge access, it provides excellent value for a much lower fee.

3. American Express Gold Card

With a $250 annual fee, the Amex Gold earns 4X points at restaurants and U.S. supermarkets (up to $25,000 per calendar year, then 1X), 3X points on flights booked directly with airlines or through Amex Travel, and includes up to $120 in dining credits annually.

Final Verdict & Recommendations

After thoroughly analyzing both premium travel cards across multiple categories, here’s our verdict on the Chase Sapphire Reserve vs. Amex Platinum debate:

For most everyday travelers seeking a premium experience without excessive complexity, the Chase Sapphire Reserve offers the better overall value proposition. Its combination of straightforward benefits, broad bonus categories, excellent travel protections, and lower annual fee makes it more accessible while still delivering a premium experience.

However, for luxury travelers who fly frequently, value airport lounge access above all else, and can fully utilize the Amex Platinum’s numerous statement credits, the American Express Platinum can provide exceptional value despite its higher annual fee.

Remember, the “best” card is ultimately the one that aligns with your specific travel habits, spending patterns, and what you personally value in a premium travel experience.

Frequently Asked Questions