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Have you ever considered applying for premium credit cards?
Whether you are new or experienced with rewards credit cards, it’s worth considering the cards we are about to review.
Amex Personal Platinum vs Business Platinum vs Chase Sapphire Reserve. It is difficult to say one is better than the other.
Is there any difference between American Express Platinum and Chase Sapphire Reserve? Yes, there are significant differences between those cards. The American Express Platinum and American Express Business Platinum, have their differences as well. But don’t worry. You will know everything you need to make the best decision very soon.
This article will provide you with the major perks and benefits of these premium cards. But not only. It will also navigate you towards taking the right decision for getting one yourself. Each card is unique and lays out a wide range of advantages for the user.
Above all, everyone has individual needs. So getting the right card is essential if you want to meet your needs. First, we will get to know each card in details. Then, we will compare them 1 vs 1, and finally – see the contrast between the three of them .
American Express Platinum
The American Express Platinum Card is one of the best premium travel rewards cards you can find. However, if you want to get this card you should be aware of the $690 annual fee. Indeed this fee is one of the highest annual fees of all consumer cards.
But what’s great about the Amex Platinum is it allows you to carry over a balance for certain charges. This is because of the new Pay Over Time feature that has been added to a few selected Amex Consumer and Business cards.
Still, if you use the card to its full potential, the annual fee will pay for itself. Of course, you have to know all the perks and if they match with your lifestyle before you apply though.
Amex Platinum Welcome Offer and Travel Benefits
Let’s begin with the Welcome Offer. If you decide to take advantage of it, you can earn a generous amount of 100,000 Membership Rewards points. All you need to do is hit the spending requirements of $6,000 within 6 months of account opening.
The Amex Platinum card will give you 5x Membership Rewards points on flights booked directly with airlines or Amex Travel (up to $500,000 per year), and 5x on prepaid hotel bookings on American Express Travel. And in the first six months of account opening, you can also earn 10x points on eligible purchases at restaurants worldwide and shopping malls in the U.S. with a combined spending threshold of $25,000.
You will also get statement credits for various travel and hotel purchases whenever you use your Platinum Card:
- $200 hotel credit – Get a $200 cash back in the form of statement credits every year for bookings made at Fine Hotels + Resorts or The Hotel Collection on American Express Travel.
- $200 Airline Fee Credit – Get a $200 statement credit every year in baggage fees and other airline fees for one qualifying airline.
- $200 Uber Cash – Get Uber VIP status and a $200 credit every year for rides and food purchases made in the US (available to Basic Card Members only).
- $179 CLEAR Credit – Get up to $179 back every year on your CLEAR membership.
- $300 Equinox Credit – Get up to $25 back every month on select Equinox memberships (enrollment needed).
- $240 Digital Entertainment Credit – Get up to $20 worth of statement credits per month on eligible purchases for these providers: The New York Times, Peacking, SiriusXM, and Audible.
You also get free lounge access when you travel with the American Express Global Lounge Collection. It includes the International American Express lounges, Centurion Lounges, Delta Sky Clubs if you fly with Delta and Airspace, Priority Pass Select, and Escape lounges.
Speaking of hotels, you will get access to Amex’s Fine Hotels & Resorts program. Whenever you book a room at one of these hotels through Amex Travel, you will receive benefits. The most interesting of them are – a room upgrade (if available), guaranteed 4 P.M. late check-out, and breakfast for two daily.
Amex Platinum other discounts
With the American Express Platinum, you receive up to $200 in Uber credits annually. Every month your card provides $15 worth of credit for Uber rides. You get an additional $20 for December. Кeep in mind the fact that if you don’t use the full credit in one month, it won’t transfer to the next one.
American Express Platinum grants you up to $100 in statement credits at Saks Fifth Avenue. You have $50 to use from January to June and another $50 to use from July to December. You also get various shopping and purchase protections.
Last but not least always remember. Usually, credit cards become more powerful when matched up with other cards. That being said, the American Express Platinum is usually a better option if you are on the hunt for the perks, but the American Express Gold Card and American Express Green Card are usually better if you are looking for the earning rates.
Read More: American Express Gold Card Review
American Express Business Platinum
The Business Platinum Card from American Express has a $595 annual fee. It will suit your purpose only if you are a business owner or co-owner. You still get similar benefits as with Amex Personal Platinum but it also provides you with a different value.
The Amex Business Platinum can offer you a bigger Welcome offer. New cardholders will get 100,000 points after spending $15,000 in the first three months of account opening. But indeed, that’s a lot of money to spend in three months.
But it’s actually doable if you’re an owner of a small or medium-sized business? If spending $15,000 within a quarter is reachable for you, then Amex Business Platinum is can be perfect for you.
Yet, you might want to consider getting that card if you are not much of a spender. As well. Why? Let’s see.
First, the earning rate of purchase is whopping 5 points per dollar spent on flights and prepaid hotels on amextravel.com. The Amex Business Platinum Card also offers you a 50% point bonus on purchases of $5,000 or more. This means you’ll earn 1.5x points per dollar and up to 1 million extra points per year.
This is an incredibly valuable perk that’s only available with the business version of the card.
Next up, one of the most incredible perks for the Amex Business Platinum Card is the 35% points rebate. First, you have to pre-select one airline. Then use points to book any flight – economy or business class. Finally, you get 35% of your points back and they can up to 500,000 points per calendar year.
This card offers you two semi-annual statement credits for US purchases with Dell. The amount of each is $100 and both add up to $200 per year. Nonetheless, due to the caused Covid-19 travel issues, Amex added another $200 credit. Now cardholders can get up to $400 in statement credits for Dell purchases in 2020.The Dell benefit is in addition to a new statement credit. The new credit reaches up to $320 toward US purchases for shipping and selected streaming services.
And always remember. You can always combine it with other Amex cards to reap the maximum benefits.
Chase Sapphire Reserve
The Chase Sapphire Reserve Card is also one of the best premium travel rewards cards you can find. The annual fee here is again $550. The benefits and rewards here are more than enough to make up for that high fee. All you have to utilize them properly for your personal needs.
Our focus again will be on the benefits and rewards that come with the card. Chase Sapphire Reserve has different benefits that Amex Business Platinum and Amex Personal Platinum.
The welcome offer for this credit card is similar to Amex Personal Platinum. Here, you can earn 60,000 reward points if you spend $4,000 within the first three months.
You get 3 points per dollar spent on travel and dining, but only after earning the $300 travel credit. There’s also a new category where cardholders can earn 3x on up to $1000 per month on grocery store purchases (promo runs through April 30, 2021).
The Chase Sapphire Reserve comes with an easy-to-use travel credit. The first $300 spend on travel-related purchases within a cardmember’s year is credited back to your account. The “travel” category is large and includes subways, parking, taxis, hotels, and airfares. If you can put that benefit into use you can reduce the annual fee to $250.
In 2020 Chase Sapphire Reserve added up to $60 in statement credits for DoorDash. You will be able to make use of DoorDash statement credits in 2021 as well. What is DoorDash? It’s a food delivery service like Grubhub or Seamless. If you can put that benefit into use you can reduce the annual fee to $190.
What are the differences between Amex Platinum and Business platinum?
Many people wonder which is better. The Amex Personal Platinum or the Amex Busines Platinum. As we mentioned earlier it depends on the person using it. Both cards are American Express, but which one will serve you better? Below we have a table to illustrate the main benefits of Amex Platinum and Business Platinum.
Amex Platinum vs Business Platinum
|Amex platinum||Amex Business Platinum|
|Welcome offer||75K Rewards points after spending $5K in the first three months of account opening||100K Rewards points after spending $15K in the first three months of account opening|
|Points earning rates||5x Rewards points on flights booked with Amex Travel or directly with airlines 5x Rewards points on prepaid hotels booked with amextravel.com 1x Rewards points on everything else||5x Rewards points on prepaid hotels and flights booked with Amex Travel 1.5x Rewards points on purchases of $5K or more 1x Rewards point per dollar on everything else|
|Access to an airport lounge||Yes||Yes|
|Annual airline fee credit||Up to $200 annually||Up to $200 annually|
Which one is the best for me?
Both cards provide great value. Most consumers choose the American Express Platinum Card. It provides you with a wide variety of travel benefits and perks. The added value of them is more than enough to make up for the high annual fee.
As I mentioned earlier don’t forget to pay your obligations on time.
If you make a lot of purchases of $5,000 or more each month you might want to consider going for Amex Business Platinum Card. Even though you give up the Uber credits, you will get perks like the 35% points rebate for flights booked through Amex Travel.
Do you think the 35% points rebate and the Dell statement credits provide you with more value? If so, the Business Platinum might be a better option for you. You should consider the welcome points as well. Do you intend to earn the bonus on the Amex Business Platinum Card? If you don’t, the better option for you might be the personal version.
Amex Platinum vs Chase Sapphire Reserve
The American Express Platinum and the Chase Sapphire Reserve are both premium credit cards. The annual fee of both is $550. They both have rewards points, but you should know about their notable differences.
The Amex Platinum Card earns points in the Amex Membership Rewards program. You can choose between 19 airlines and three hotel transfer partners. With the Chase Sapphire Reserve, you earn points in the Chase Ultimate Rewards program. It has fewer airline partners. To be more precise 10 airline partners but yet again three hotel partners.
Both premium cards offer Priority Pass lounge access in airports. The Amex Platinum will grant you access limited to airport lounge locations. On the flip side, the Chase Sapphire Reserve can offer you a Priority pass to get food and beverages. You can benefit only if these airport restaurants participate in the Priority pass.
Welcome Offers and Rewards Points Comparison
You can make a ton of reward points with either card after opening a new account. Of course, you must meet the requirements first.
The Chase Sapphire Reserve has a welcome offer of 60K bonus points. First, you have to spend $4,000 in the first three months after opening the card. The Amex Platinum Card comes with 75K Amex Membership Rewards points. To receive them you must spend $5,000 on purchases for the same period.
As you can see the offers are kind of similar. Membership Rewards and Ultimate Rewards points are both transferable. And transferable points are the most valuable type of points. You can get amazing value on flights if you know how to use them.
Aside from that, you can redeem them for cash or purchase travel through each card’s website. But the value there will be less in most cases.
Nonetheless, in these scenarios, Chase will value your points at a higher rate than Amex. This leads us to the conclusion that even though the Amex welcome offer is 10K points more, the value is almost the same.
If we consider welcome offers a tie, we should consider something else. Do you think you will spend $5,000 in the first three months? If not, may want to go for the Chase Sapphire Reserve, because of the lower spending requirement of $4,000.
By the way, both American Express and Chase have extended their qualification periods. The period is extended from three to six months, due to the whole COVID-19 pandemic. I would recommend you to take advantage of this situation before December 2020.
Earning rates of Chase Sapphire Reserve and Amex Platinum
Let’s say you’ve availed of the welcome offer. Now you need a card that can help you to notch up quickly your transferable points. Both cards can do that for you but in different ways. It depends if you currently own any kind of Chase or Amex card. If you do, how the bonus categories on your other cards will overlap with the Chase Sapphire Reserve or Amex Platinum?
These are the bonus categories for the two cards:
|Multiplier||American Express Platinum||Chase Sapphire Reserve|
|1X||Any other purchase||Any other purchase|
|3X||–||Travel and dining|
|5X||Flights purchased directly with airlines. Prepaid hotels & airfares booked through Amex Travel||–|
|10X||–||Lyft rides (by March 2022)|
The Amex Platinum 5X points on flights when booked directly with the airline or through American Express Travel is tough to beat. But, Chase leaped forward with its new 10X bonus category for all Lyft rides in the U.S.
The Amex Platinum card offers you trip delay protection and trip interruption or cancellation insurance. If we talk only about flights Amex Platinum is leading. Yet, the Chase Sapphire Reserve quickly catches up if we talk about other travel expenses. For example most tours, hotels, tolls, ride-sharing, and more.
So far we can say that that match between American Express Platinum and Chase Sapphire Reserve is more or less a tie. In the next point, we will see the real and more detailed comparison between the three cards.
Amex Platinum vs Business Platinum vs Chase Sapphire
Finally, it’s time to see all the differences between these three premium credit cards. We can split these three cards into two categories. One for business and one for travel and fun.
|Amex Platinum Card||Chase Sapphire Reserve||Amex Business Platinum Card|
|Welcome Offer||75K Rewards points after spending $5K in the first 6 months of account opening||60K points after spending $4K in the first three months of account opening||100K Rewards points after spending $15K in the first three months of account opening|
|Points earning rates||5x Rewards points on flights booked with Amex Travel or directly with airlines 5x Rewards points on prepaid hotels booked with amextravel.com 1x Rewards points on everything else||10x points on Lyft through March 2022 3x points on dining and travel (after earning the $300 travel credit) 1x point on everything else||5x Rewards points on prepaid hotels and flights booked with Amex Travel 1.5x Rewards points on purchases of $5K or more 1x Rewards point per dollar on everything else|
|Annual statement credits||Up to $200 airline incidental fee credit Up to $200 Uber credit ($15 each month, with a $20 bonus in December) Up to $100 Saks Fifth Avenue statement credit ($50 every six months)||One free year of Lyft Pink membership Up to $100 credit for TSA PreCheck or Global Entry||Up to $200 airline incidental fee credit Up to $200 Dell credits annually|
|Airport lounge access||Access to the American Express Global Lounge Collection. It includes Centurion Lounges, Priority Pass (excluding restaurants), Delta Sky Clubs when flying Delta, and more||Priority Pass Select membership. This includes restaurants||Access to the American Express Global Lounge Collection. It includes Centurion Lounges, Priority Pass (excluding restaurants), Delta Sky Clubs when flying Delta, and more|
|Other benefits||Gold elite status with Hilton and Marriott Up to $100 credit for TSA PreCheck or Global Entry||Rental insurance on your primary car Baggage and trip delay insurance Trip cancellation/interruption insurance Emergency medical and dental benefit Hotel perks in Luxury Hotel & Resort Collection||35% points rebate for booking flights through Amex with Reward Points Gold elite status with Hilton and Marriott Up to $320 in statement credits for telephone services purchased from US service providers & shipping purchases in the US (by December 2020) Up to $200 additional Dell credits annually (through December 2020)|
As you can see all these credit cards provide you with amazing perks benefits. If you are a business owner you might want to consider Amex Business Platinum. If you don’t have a business you might consider choosing one of the other two credit cards.
Which is the best credit card for you
It depends on what benefits you are looking for. You should always consider the welcome offers as well.
If you want a simple set of travel protections and amazing rewards for dining and travel, the Chase Sapphire Reserve is a wonderful choice.
Do you want statement credits for Uber and Saks and complimentary hotel elite status? Do you like to have access to many airport lounges? If so, the American Express Platinum Card might be a better option.
Do you mind giving up on Uber credits for perks like Dell statement credits and 35% points rebate when flying? It depends on your status and interests. If you have a small-medium business, you might want to consider the Amex Business Platinum Card instead.
Be aware that your business must make purchases of $5,000 or more each month. Don’t forget that the purchases must be with the card to exploit the most of Amex Business Platinum.
It doesn’t matter that much which card you choose. I am sure that you’ve already found some attractive benefits within the listed above. All three cards come with great value that makes up for their high annual fee.