CreditDonkey is a credit card comparison and reviews website. This website is made possible through financial relationships with card issuers and some of the products and services mentioned on this site. Advertiser Disclosure†

Updated June 27, 2016

Chase Sapphire Preferred vs Amex Platinum: Are the Rewards and Benefits Worth the Fee?

Read more about Excellent Credit
Editorial Note: This content is not provided by the card issuer. Opinions expressed here are author's alone, not those of the issuer, and have not been reviewed, approved or otherwise endorsed by the issuer.
This article contains references to products from our partners. We receive compensation if you apply through links in our content. You help support CreditDonkey by reading our website and using our links. (read more)

Prestigious credit cards show the true power of plastic through benefits and generous reward programs. Read on for a comparison of Amex Platinum vs Chase Sapphire Preferred to see which one is better.

The problem is that these cards are not designed for everyone. They come with annual fees and have strict credit requirements. This means that if you’re still working on getting your finances in order, you’re probably better off with a balance transfer card or a basic rewards card.

But if you have excellent credit, in our opinion, using one of these prestigious cards can take your shopping, traveling and dining experiences to a whole new level.

CreditDonkey.com analyzed the top prestigious cards from our partners to help you decide which one to choose.

Comparison Methodology

Here are the main factors we considered in comparing prestigious cards:

  1. Fees
  2. Rewards
  3. Benefits

When it comes to prestigious credit cards, you have to pay to play. Annual fees, a given with these cards, can range in the hundreds of dollars. Make sure you can afford these fees and are willing to take them on before applying for a card.

But why bother when dozens of other cards will let you sign up with no annual fee? The answer is simple: these cards’ rewards and benefits usually go well beyond what an average card can offer.

With reward programs, you get something back for every dollar you spend, usually in the form of points. You can use your points to pay for things like hotels, merchandise, and airline tickets. Rack up enough of these offers and you’d even cover the cost of hotel stays or round-trip flights.

Another bonus for travelers: these cards have no foreign transaction fees.

CreditDonkey.com wants to help you decide which one is the right one for you. We rated each factor on a 1-5 scale to come up with our prestigious picks.

For Travel: American Express Platinum

The Platinum Card from American Express
Apply for The Platinum Card from American Express
At American Express' Secure Site
  • Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
  • Enjoy Uber VIP status and free rides in the U.S. up to $15 each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings.
  • 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
  • 5X Membership Rewards points on prepaid hotels booked on amextravel.com.
  • Enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
  • Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts. Learn More.
  • $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline.
  • Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card®. Enrollment required.
  • $550 annual fee.
  • Terms Apply.
  • See Rates & Fees
Card TypeAnnual Fee
Personal Charge Card
$550

  • Fees: $550 annual fee, 3/5
  • Rewards: 60,000 bonus points if you spend $5,000 in first 3 months, 5/5
  • Benefits: Airport Club Access, 24/7 concierge, up to $200 Airline Fee Credit for airline incidental fees, 5/5
  • CreditDonkey Score: 4.3/5

If you can handle the $550 annual fee, the Platinum charge card from American Express, a CreditDonkey advertiser, offers rewards and benefits that it might just become your new favorite travel companion. The Platinum Card gives you access to select airport lounges and provides a concierge service that will help you with restaurant reservations and to purchase advance tickets to select events.

You’ll also get 60,000 bonus points if you spend $5,000 on purchases on the card within the first 3 months. As we found in our review, those are enough points for a roundtrip domestic flight in the continental US.

Why We Like It
In our opinion, the travel benefits are outstanding. In addition to perks already mentioned, you get hotel perks and up to $200 in annual statement credit to cover airline incidental fees like checked bags, in-flight food, and flight changes (when you enroll and select a qualifying airline).

The Downsides
The $550 annual fee is expensive. And, since this is a charge card and not a credit card, you have to pay off your balance each month. If not, you will be charged a fee and you might have your card revoked.

Who It Works Best For
Frequent travelers who can revel in the rewards and benefits but who can also afford to pay their bill at the end of the month.

For Points: Chase Sapphire Preferred

Chase Sapphire Preferred Card
Apply for Chase Sapphire Preferred Card
At Chase's Secure Site
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Chase Sapphire Preferred® named a 'Best Travel Credit Card' by MONEY® Magazine, 2016-2017
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards
Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
N/AN/A
17.74% - 24.74% Variable
$0 Intro for the First Year, then $95

  • Fees: $0 intro annual fee for the first year, then $95, 4/5
  • Rewards: Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®, 5/5
  • Benefits: 3/5
  • CreditDonkey Score: 4/5

Chase Sapphire Preferred might resemble an average credit card, but the above-average rewards program sets it apart. People who like to generate points will find a lot to love about the Sapphire Preferred.

Why We Like It
Travelers will also like that they can transfer points to select frequent travel programs at full value.

The Downsides
The card charges an annual fee ($0 intro for the first year, then $95).

And to be approved for the card, you usually need excellent credit.

Who It Works Best For
People who can meet the credit qualifications and can pile on enough points to justify the annual fee.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. This site may be compensated through the Advertiser's affiliate programs.

More from CreditDonkey:

More Articles in Best Deals

Excellent Credit

VISA Black vs AMEX Platinum

Congratulations you, the frequent traveler, on graduating to the next level of travel rewards cards. Since airports have basically become your second home, you've decided to get the most out of them by joining the elite club of premium ...

Leave a comment about Chase Sapphire Preferred vs Amex Platinum: Are the Rewards and Benefits Worth the Fee?

Name
Email (won't be published)


Chase Sapphire Reserve Review

An ultra premium travel credit card has arrived: the Chase Sapphire Reserve. Is it worth the $450 annual fee? Read this review to decide.

    Beginner's Guide to Airline Miles and Points

    Learn how airline miles work and 10 steps that you should follow to start collecting travel rewards. Before long, you'll be well on your way to redeeming miles for free flights and hotel rooms.

    Hotel Rewards

    The sign-up bonuses for hotel rewards credit cards can be tempting, but is a hotel card right for you?

    Study: Credit Cards for International Travel

    The best credit cards for international travel have no foreign transaction fees, chip technology and worldwide acceptance. But what's the right travel card for you?

    Airline Rewards

    The best airline credit card racks up miles fast with reasonable fees and amazing rewards.

    Travel Rewards

    Looking for a new travel credit card?

    Foreign Transaction Fee: What to Know Before You Travel Abroad

    Before you go on a trip overseas, be sure you have a credit card with no foreign transaction fees. Read on to learn how to save money on international travel.

    Credit Card Deals

    Applying for a card with a bonus or an introductory offer can be a great way to get a head start on earning rewards or to get a handle on your debt.

    Credit Card Bonus Offers

    Take advantage of credit card bonuses for new customers, including bonus cash, reward points, and airline miles.

    Dining Rewards

    If you're usually eating out rather than slaving over a hot stove at home, make a point of using a rewards credit card every time you pick up the tab and save up some serious cash.

    Best Credit Cards

    Here are the CreditDonkey picks for "Best Credit Cards" from our partners in the following categories ...

    Credit Card Rewards

    So you've decided you want to earn rewards for your spending but aren’t sure how to pick the right card?

    Credit Card Deals for People with Excellent Credit

    If you have excellent credit, now is the time to take advantage of it.

    No Foreign Transaction Fee Credit Cards

    Most credit cards tack on a 3% charge, or foreign transaction fee, on purchases made outside the United States. If you travel internationally with a no foreign transaction fee credit card, you'll save money on your purchases.

    Study: Hotel Credit Cards for Free Nights

    Must-read list of hotel credit card promotions. Check out this essential list of credit card offers before your next hotel stay.

    Study: Credit Card for European Travel

    Traveling to Europe? Look for a card with chip technology and no foreign transaction fees. Here are our favorite cards for international travel.

    Best Credit Card for First-Time Applicants

    Learn how to get a credit card for the first time. Read this guide to find out which cards are the best and how to avoid common mistakes beginners make.

    Best Chase Ultimate Rewards Transfer Partners

    Find the best way to use each Chase transfer partner. Read this to maximize the value of your Ultimate Rewards points.

    23 Best Ways to Use Chase Ultimate Rewards

    Redeem Chase Ultimate Rewards points for the most value. This guide highlights some of the best redemption opportunities with Chase points and airline transfer partners.
    B737

    How to Earn United Miles Fast

    You don't need to fly a lot to earn a TON of United miles. Read on for 15+ smart ways to earn United miles fast.

    14 Best Ways to Use United Miles

    Redeem United MileagePlus miles for the most value. This guide highlights some of the best award redemption opportunities with United miles.
More Articles in Best Deals







About CreditDonkey®
CreditDonkey is a credit card comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the card offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.