Ready for a head-to-head showdown between these two top cards? Here's a closer look at fees, welcome offers, and beyond.
Amex Platinum Card vs. Chase Sapphire Preferred annual fee
Winner: Chase Sapphire Preferred® Card
You really can't discuss The Platinum Card® from American Express without breaking down its $695 annual fee (see rates and fees). This is a high-end card, and that fee really drives the point home.
Thankfully, it comes with credits for hotels, digital entertainment (including online news subscriptions and streaming services), and even for a Walmart+ membership (terms apply, enrollment required). The Platinum Card® from American Express offers a lot of value for the right type of consumer. If this one is on your shortlist, be sure to review the long list of perks and credits to make sure you'll actually benefit.
If you want a more straightforward rewards card with some useful perks for travelers, the Chase Sapphire Preferred® Card might be more your speed. The annual fee is a reasonable $95, and starting right from the welcome offer (more on that below), it should be fairly easy to offset that fee. I'll also discuss the rewards program in more detail further down, but earning higher rates on travel and dining expenses can go a long way toward covering the annual fee.
Plus, Chase has some great partner benefits to take advantage of, like a free year of DoorDash's DashPass, which'll save you a lot of money on delivery fees if takeout is your jam (you have to enroll by Dec. 31, 2024). The Chase Sapphire Preferred® Card also comes with primary rental car insurance, which is worth considering if you're frequently behind the wheel of a rented vehicle. Ultimately, I give the prize to the Chase card, because of that far more reasonable annual fee, though.
Amex Platinum Card vs. Chase Sapphire Preferred welcome offer
Winner: Chase Sapphire Preferred® Card
Both of these cards come with generous welcome offers, and in the case of the Chase card, it's got a freshly boosted bonus that's worth capitalizing on. Let's turn our attention to The Platinum Card® from American Express first. If you spend $8,000 in the first 6 months with the card, you'll get 80,000 Membership Rewards® Points Membership Rewards Points (terms apply). That is a lot of money to spend, but six months is a pretty generous timeframe to do it in.
The Chase Sapphire Preferred® Card's current welcome offer (available for a limited time) is 60,000 bonus points in exchange for spending $4,000 in the first 3 months with the card. I'm giving the welcome bonus crown to the Chase card due to that lower spending requirement -- it's a lot more achievable for those of us who aren't high rollers.
Amex Platinum Card vs. Chase Sapphire Preferred intro APR
Winner: Tie
Well, this is a fairly easy category to adjudicate! Neither The Platinum Card® from American Express nor the Chase Sapphire Preferred® Card offers any kind of intro APR for new cardholders. This isn't very surprising, though -- travel cards often don't, and much of their value comes instead from the rewards program and the welcome bonus.
Amex Platinum Card vs. Chase Sapphire Preferred rewards
Winner: Tie
Amex's rewards program is a standout, and while you can use Membership Rewards points toward statement credits, gift cards, or paying for purchases, the best way to get the most value from them is through travel bookings. Specifically, you'll want to transfer your points to Amex's travel partners -- do this, and your points could be worth as much as $0.03 apiece.
How much can you earn with The Platinum Card® from American Express? Beyond the welcome bonus, here are your rates:
- 5X points per $1 on flights you book with the airline or through American Express Travel (this caps out at $500,000 in purchases per calendar year)
- 5X points per $1 on prepaid hotels booked on amextravel.com
- 1X point per $1 on all other purchases
- Terms apply.
Surprise, surprise, the Chase Ultimate Rewards program is also one of the best out there, with plenty of devoted fans (including yours truly). And unlike The Platinum Card® from American Express, this Chase card offers earnings in more accessible expenses for a lot of people (for example, you might dine out every week -- but how often do you book plane tickets?):
- 3X points per $1 on dining
- 3X points per $1 for online grocery orders and select streaming services
- 2X points to 5X points per $1 on travel purchases (2X for travel booked outside of Chase 5X on travel booked through the Chase Travel portal)
- 1X point per $1 on other purchases
As you can see, the Chase card offers more ways to earn points. And just like with Amex, you can get more value from your points if you transfer them to travel partners, rather than redeeming them as gift cards or a statement credit.
Honestly? The two rewards programs are both great. If you're choosing a card heavily based on this factor, I recommend checking out both programs to see which partners with airlines and hotels you use often, and use that info to make your decision.
Fact Checked
Nathan Alderman
