The Platinum Card® from American Express and the Chase Sapphire Reserve® are two of the best premium travel cards on the market today, and it's easy to see why. Both offer luxury travel benefits like annual travel credits and airport lounge access, and each one also earns flexible rewards for travel with lucrative redemption options.
The Chase Sapphire Reserve® offers better rewards redemption rates and more versatility than The Platinum Card. Therefore, for most people, we think the Chase Sapphire Reserve will offer a better value. But The Platinum Card from American Express is still a worthy card. For the frequent flyer who can take advantage of The Platinum Card’s many credits -- and afford its steep annual fee -- it could be the better choice.
Comparing annual fees
The annual fees for premium travel cards are above and beyond those of typical credit cards. In exchange for better travel perks and credits, the annual fee is typically hundreds of dollars, whether that's for the highest-tier co-branded hotel or airline cards, or for more general travel cards like these two.
The Platinum Card's $695 annual fee is exceptionally high -- even for a premium travel card. The Chase Sapphire Reserve's annual fee is slightly lower at $550.
That noted, there are plenty of very good travel credit cards with annual fees under $100, highlighted on our list of the best travel credit cards.
Welcome offers
The Platinum Card's welcome offer is 80,000 Membership Rewards® points when you spend $8,000 on eligible purchases in the first six months. You can redeem those points for $800 in flights or $560 in travel expenses (like prepaid hotel rooms or rental cars) booked through American Express Travel. Or you can convert them into a $480 statement credit.
In contrast, the Chase Sapphire Reserve welcome bonus, 60,000 points earned when you spend $4,000 in purchases in the first three months, is good for $900 in travel booked through the Chase Travel℠ portal -- or a $600 statement credit. Whichever way you slice it, the Reserve's got the edge on The Platinum Card here.
Rewards and redemption options
The Platinum Amex rewards program covers mostly flights and prepaid hotels. Flights require direct booking through an airline or American Express Travel to earn 5x points (note that there is a $500,000 spending cap per calendar year), and spending on prepaid hotels booked with American Express Travel earns the same 5x points. It offers a basic 1x flat rate on all other eligible purchases, which is less than you’ll get from some of the best cash-back cards -- all of which have a lower annual fee.
While you’ll get 1 cent per point when redeeming for flights booked through American Express Travel, other forms of travel such as prepaid hotels and prepaid car rentals return only 0.7 cents per point (and also have to be booked through Amex Travel). And you’ll only get 0.6 cents per point for statement credits.
The Sapphire Reserve, on the other hand, has a better chance of providing a good per-point value thanks to its redemption bonus and 1:1 transfer rate to partners. It also has a varied assortment of general rewards such as points for dining and general travel purchases -- a great example of travel portal rewards reaching beyond the scope of just bookings.
You can also redeem the Sapphire Reserve's points for a statement credit valued at 1 cent each or for 50% more travel when redeeming points for airfare, hotels, car rentals and other travel bookings through Chase Travel.
Both cards will likely provide the best value when you transfer points to the issuer's travel partners. The Amex Platinum has a greater number of international airlines including Air France, KLM and Aeromexico, while the Chase card offers more domestic carriers like United and Southwest.
American Express vs. Chase Travel Partners
American Express and Chase also have their own unique sets of transfer partners that let users turn their rewards points into airline miles or hotel loyalty points. Where Chase Ultimate Rewards transfer partners are better for domestic travel and come with a 1:1 transfer ratio, Amex partners can work better for international travel and have transfer ratios that vary.
Here's a rundown of the transfer partners for each of these programs.
Amex transfer partners
Airline partners
| Airline | Transfer ratio (Amex points to miles) |
| Aer Lingus | 1,000:1,000 |
| Aeromexico | 1,000:1,600 |
| Aeroplan | 1,000:1,000 |
| Air France, KLM | 1,000:1,000 |
| ANA Mileage Club | 1,000:1,000 |
| Avianca LifeMiles | 1,000:1,000 |
| British Airways | 1,000:1,000 |
| Cathay Pacific | 1,000:1,000 |
| Delta Air Lines | 1,000:1,000 |
| Emirates Skywards | 1,000:1,000 |
| Etihad Guest | 1,000:1,000 |
| Hawaiian Miles | 1,000:1,000 |
| Iberia Plus | 1,000:1,000 |
| JetBlue TrueBlue | 250:200 |
| Qantas | 500:500 |
| Qatar Airways | 1,000:1,000 |
| Singapore Airlines KrisFlyer | 1,000:1,000 |
| Virgin Atlantic | 1,000:1,000 |
Hotel transfer partners
| Hotel | Transfer ratio (Amex points to hotel points) |
| Choice Privileges | 1,000:1,000 |
| Hilton Honors | 1,000:2,000 |
| Marriott Bonvoy | 1,000:1,000 |
Chase transfer partners
The Chase Sapphire Reserve has a 1:1 transfer rate to its transfer partners.
Airline travel partners
- Aer Lingus, AerClub
- Air Canada Aeroplan
- British Airways Executive Club
- Emirates Skywards®
- Flying Blue AIR FRANCE KLM
- Iberia Plus
- JetBlue TrueBlue
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards®
- United MileagePlus®
- Virgin Atlantic Flying Club
Hotel travel partners
- IHG One Rewards
- Marriott Bonvoy®
- World of Hyatt®
Required credit
While the Amex card is recommended for good to excellent, the Chase card is recommended for excellent credit. Both will also need a steady income to get approved. Good to excellent credit for FICO would be a score of 670 to 850, and 661 to 850 for VantageScore.
If your credit score isn't in that range, you may have to work on building your credit with a credit card geared to imperfect credit first.
Travel and general perks
While there is some overlap between the travel perks these cards offer -- like annual travel credits and credits for TSA PreCheck or Global Entry -- The Platinum Card steals the show when it comes to additional benefits.
Who is the Chase Sapphire Reserve best for?
The Chase Sapphire Reserve is our pick for the winner between these two cards since it can appeal to a wider variety of people, including:
- Those who want access to more domestic airline partners: Chase Ultimate Rewards points transfer to domestic airlines like Southwest and United, and rewards are worth 50% more when used to redeem for airfare and other travel through Chase.
- Frequent travelers who value simplicity: This card's annual $300 travel credit is considerably easier to use since it applies to nearly any travel purchase you make.
- Anyone who might want to redeem rewards for cash back or gift cards: Chase points are worth a minimum of 1 cent each when redeemed for statement credits, gift cards and some other flexible options, which makes them more valuable overall.
Who is the American Express Platinum best for?
The Platinum Card from American Express comes in second, but may be a better fit for:
- Frequent travelers who want the broadest airport lounge membership available: The Global Lounge Collection offered through this card simply can't be beaten. It provides access to more airport lounges than any other card.
- Individuals who are willing to track and maximize its various statement credit offers: This card is best for rewards enthusiasts who don't mind keeping track of statement credits and taking extra steps to use them year after year.
- International travelers who love Amex transfer partners: Amex transfer partners can be incredibly fruitful for jet-setters who want to redeem their rewards for premium airfare on international carriers.
FAQs
Travel credit cards turn purchases into points or miles that can be redeemed for travel purchases, like flights and hotel stays. Sometimes you can redeem those points for cash or a gift card, but you typically get the best rate when using them to book travel. The top cards have their own travel booking portals where you can find flights, hotels and rental cars. Sometimes, points are worth more when used in those credit card company portals.
Airline credit cards and hotel credit cards operate like loyalty programs in that you stay in a closed-loop rewards system. You earn rewards when you purchase flights or hotels through your chosen airline or hotel company, and you can use those points for perks or future bookings through the same airline or hotel group.
Most premium travel credit cards — which carry hefty annual fees — include benefits that add additional value. The most typical benefits for general travel cards are travel accident insurance, trip cancellation insurance, trip delay reimbursement or protection, lost luggage reimbursement and rental car collision insurance. Premium travel cards often offer upgrades while traveling, travel credits and other luxury perks.
The points and travel benefits that you accrue through a travel rewards program are often redeemed through your credit card issuer’s website (or app) or appear as a statement credit that reimburses you for past travel-related and everyday purchases you made with your travel credit card. Points or miles can also be transferred to travel partners — mostly hotels and airlines — at a fluctuating conversion rate, where they can then be used to book a flight or hotel room. To choose the best travel credit card, there are a few key factors to consider:
- Annual fees: Most travel rewards programs have annual fees, but those fees are usually mitigated by monthly or annual credits.
- Exclusive perks: Some travel rewards card options also grant access to exclusive travel perks, like airline lounges, priority boarding or VIP welcomes at hotels. The value of those perks is subjective and something you’ll have to evaluate based on your needs and wants.
- Foreign transaction fees: The best travel cards don’t make users pay a foreign transaction fee, so that’s not something you have to worry about.
Our approach to credit card evaluation
We review the cards that are in the highest demand and offer the best benefits. We scour the fine print so there aren't any surprises when you open an account. We find the key factors that make a card stand out and compare them to other top cards. That way, readers can opt for a different card with similar features if our pick isn't right for them. Our reviews are regularly checked and updated to incorporate new recommendations, as well as to reflect changes in offers and the market.
For rates and fees of The Platinum Card from American Express, click here.
*All information about the Capital One Venture X Rewards Credit Card has been collected independently by CNET and has not been reviewed by the issuer.
