Chase Sapphire Preferred vs American Express Platinum

Choosing between necessity and luxury is difficult, especially when you want both. I, too, went through this dilemma when I had to choose between two top-tier cards.

Therefore, I researched to compare Chase Sapphire Preferred vs American Express Platinum. Read on to find out the results.

Chase Sapphire Preferred vs American Express Platinum General Overview

Sapphire Preferred has unique offers in travel categories. On the other hand, Amex Platinum offers an array of cash credits in various luxury categories.

A detailed comparison between the two can determine the best use cases for both cards.

Overview of Chase Sapphire Preferred

It is one of the best travel credit cards in the market. You get extra rewards and benefits during your international or domestic trips. Moreover, Chase Sapphire Preferred offers more useful reward categories like grocery shopping and entertainment. What’s more, you get more points than average cards.

Welcome Offer

Chase offers you an easy-to-fulfill welcome offer. You get 60,000 reward points if you spend $4,000 within the first three months of becoming a card member. You can meet this deadline smoothly if you spend primarily on travel and dining. 

You don’t get an intro APR period with this card. You have to pay interest immediately and a $95 annual fee. However, you can avoid paying the APR by paying off your monthly dues entirely and on time.

Travel Perks

You get 5x points if you book flights through Chase Ultimate Rewards. Chase has a long list of airline and hotel transfer partners. You can redeem your reward points towards airline miles and stays. Moreover, you get a 25% boosted point value by saving through the Chase portal. 

Additionally, you get 2x points for spending directly on travel. The best thing about it is that “travel” is an umbrella term. You earn reward points for:

• Cab rides
• Buses
• Trains
• Cruises
• Parking spaces
• Tolls
• Ferry rides
• Camping spaces

You get an additional 5x points on purchasing Lyft services until March 2025. Finally, you get an annual $50 credit for in-hotel purchases. Also, you don’t incur a foreign transaction fee with this card, so international trips are cheaper.

Other Rewards

The rewards don’t end with travel. You get three points per dollar for spending on dining services. You also earn three points per every dollar you spend buying groceries online. Chase excludes Walmart, Target, and wholesale clubs from this offer. 

Also, you get 3x points for buying subscriptions on Chase-approved streaming services. This list includes YouTube, Disney bundle, Hulu, Apple TV, etc. You get some popular streaming platforms with this card.

Finally, you get an extra 10% reward points on every member’s anniversary. If you made 30,000 points during the entire year, you will get an extra 3,000 points at the end of your card year.

Overview of American Express Platinum

You can get this card if you want to enjoy the luxurious perks and the special treatment Amex cardholders receive. Although it offers cash back, American Express Platinum is not an exclusive rewards card. Its main feature is the statement credits in various categories, including travel, fitness, and shopping.

Welcome Offer

You get a lucrative welcome offer of 80,000 bonus points. You must spend $8,000 within the first six months of becoming a card member. It will be easy to meet this limit if you have to pay off one or multiple purchases. 

You don’t get a 0% intro APR period with this card.

Personal Perks

You get a whole host of perks with this card. Although it incurs a $695 annual fee, you can offset it through the statement credits you receive. That said, you should maximize your card for all its worth to get maximum credits.

You get:

• $200 hotel credit if you book through the Amex Travel portal. You must book at The Hotel Collection or the Fine Hotels + Resorts to qualify for the credit. You can earn while having a nice getaway.
• $100 credit for shopping at Saks Fifth Avenue or its online store. You can fully experience luxury retail and earn extra cash… a win-win! 
• $200 Uber cash on purchasing Uber ride service or Uber Eats. You also get VIP status if you spend here with your Amex Platinum. You can pay with the reassurance that you get compensation for it.
• $300 for Equinox membership. You get personal fitness training and spa treatments at an exclusive location. What’s more, you get a chunk of your money back!
• $300 for buying a Soul Cycle at-home exercise bike. Note that you must have an Equinox membership to qualify.
• $240 for subscribing to digital entertainment. You get a $20 monthly statement credit for buying a Disney bundle, Wall Street Journal, New York Times, etc.
• $155 for buying membership at Walmart. This credit reimburses your $12.95 monthly membership fee plus tax. 
• $100 reimbursement for Global Entry every 4.5 years if you have purchased it. Alternatively, you will also get your $85 TSA Precheck fee back every 4.5 years later. 
• $189 if you are a CLEAR Plus member and breeze through 100+ airports in the US. Amex returns you your annual membership charge. Note that it is auto-renewable.

Reward Opportunities

Amex Platinum offers very restricted bonus points categories. You get 5x points for booking flights with this card through American Express Travel. You get a price cap of $500,000 to earn 5x points. After this limit, you make the regular 1x.

You also get 5x points on booking prepaid hotels through Amex Travel. This means that you get the reward only if you pay when you book. If you plan to pay when you depart for the hotel or when you arrive at the front desk, you won’t get the extra points. 

Comparing Chase Sapphire Preferred and American Express Platinum

Both cards are considered the best among other cards from Chase and Amex, respectively. However, they are different and the same with some features.

Similarities

Both cards are similar because:

• With both cards, you get 5x points for booking travel through the issuer’s travel portal.
• You get rewards for spending on cab services with both cards. 
• You can break significant payments into smaller installments with My Chase Plan and Pay Over Time for Sapphire Preferred and Amex Platinum, respectively.
• Both cards offer rewards for spending on fitness bikes.

Differences

Both cards feature different offers:

• The difference between the annual fees is vast. You pay a $95 fee for Chase Sapphire against a $695 for Amex Platinum.
• Chase Sapphire offers a welcome bonus of 60,000 after you spend $4,000 within the first three months. Meanwhile, Amex Platinum requires you to spend $8,000 within the first six months to get 80,000 points.
• You get a price cap on reward points for spending on travel with Amex Platinum. Contrarily, you can earn unlimited rewards for this category with Sapphire Preferred. 
• You get 5x points on Lyft purchases until March 2025 with Sapphire Preferred. On the contrary, you get a $200 statement credit for Uber purchases yearly with Amex Platinum.
• You get a $50 hotel credit with the Sapphire Preferred against the $200 hotel credit with the Amex Platinum.
• You get 25% more points if you redeem through the Chase rewards portal. However, this Amex card doesn’t have a perk like this.

Major Distinguishing Factor

The major distinguishing factor for Chase Sapphire Preferred is its numerous travel perks. It lives up to its reputation as the best card for avid travelers. 

On the other hand, the Amex Platinum personal card is outstanding due to its several statement credit categories. You get up to $1,500 of combined credit through its lifestyle categories.

When to Use Chase Sapphire Preferred

You should use this Chase card if you travel for business or pleasure a lot throughout the year. Sapphire Preferred offers top-tier travel benefits at a relatively low cost. Also, if you are a versatile traveler and love to experience different airlines and hotels, you can earn a lot with this card.

When to Use American Express Platinum

This card is best for those who have a laid-back lifestyle and like to travel moderately. Also, if you love to go to the gym and stay fit this card includes several fitness perks. You can offset its annual fee if you plan to use it a lot.

Which Credit Card Is Better?

In my opinion, Chase Sapphire Preferred is the better option because of its regular-use reward categories. The best thing is that “travel” includes buses, taxis, trains, etc., so you can earn money by commuting and camping.

Related Questions

Final Verdict

Chase Sapphire Preferred is better than Amex Platinum because of its categories. You earn points for traveling via airlines as well as commuting. Dining and entertainment subscriptions are a plus. However, you can get the Amex Platinum if you want luxury perks and earn credit along with it.