topic Re: Amex Platinum or Chase Sapphire Reserve in Credit Cards

Amex Platinum or Chase Sapphire Reserve

Anonymous — Fri, 02 Apr 2021 03:19:15 GMT

As the header says which of these two cards do you guys use or recommend and why?

Re: Amex Platinum or Chase Sapphire Reserve

dragontears — Fri, 02 Apr 2021 03:35:51 GMT

@Anonymous wrote:
As the header says which of these two cards do you guys use or recommend and why?

I recommend the one that has transfers partners that you like to use.

Re: Amex Platinum or Chase Sapphire Reserve

summerterrace — Fri, 02 Apr 2021 04:18:51 GMT

Do you like to travel domestically or internationally? Do you use lounge access? Which credits and benefits are better for you? Do you have other Chase or AmEx cards?

Re: Amex Platinum or Chase Sapphire Reserve

dthaha — Fri, 02 Apr 2021 04:51:56 GMT

I don't have either, but it depends on what transfer partners you want as well as what other cards you'll pair with it. Both cards are not great earners because they are basically benefit cards, and the CSR being a 1.5x UR redemption boost. The Plat would pair great with your Gold if you're okay with $800 in AFs, assuming that the transfer partners work out with you.

Re: Amex Platinum or Chase Sapphire Reserve

Anonymous — Fri, 02 Apr 2021 18:44:42 GMT

@dthaha wrote:
I don't have either, but it depends on what transfer partners you want as well as what other cards you'll pair with it. Both cards are not great earners because they are basically benefit cards, and the CSR being a 1.5x UR redemption boost. The Plat would pair great with your Gold if you're okay with $800 in AFs, assuming that the transfer partners work out with you.

IMO, not quite true, especially for the CSR. Yes, they don't offer a high multiple on everything, but the CSR 3x on broad travel and dining (which is at least 4.5% when redeemed for travel) is pretty good, and the Plat 5X on airfare is a good rate.

Re: Amex Platinum or Chase Sapphire Reserve

K-in-Boston — Fri, 02 Apr 2021 19:03:49 GMT

I have both and both can be great cards. It really depends on how you plan to redeem the rewards, what your spending looks like on categories that are bonused on those and companion cards that you either have or would be willing to get, and which perks and credits you can use from either card. There is no way to make an objective declaration of "this card is better" without knowing those factors, and if you plan to transfer to partners for award travel that can further delineate.

Re: Amex Platinum or Chase Sapphire Reserve

Aim_High — Fri, 02 Apr 2021 19:24:19 GMT

IMO, @Anonymous, while these are both leading premium travel cards, they are two very different cards for different lifestyles and uses. They both have their strengths and weaknesses based on your spending and usage. I considered both cards a few years ago and decided the Chase Sapphire Reserve was a better match for me. While I'll tell you some of Platinum's strengths, I'll focus a little more on why I think CSR can be a better card in some cases.

They both charge $550 AF, so they are both intended for people able to justify that fee with moderate to heavy travel patterns. From a pure value proposition, these aren't cards for the infrequent traveler. Rumors are that the Platinum AF may be increasing to $695 in 2021 Q3 so factor that into your valuation.

As mentioned above, travel partners are one major consideration but it goes much deeper than that. But getting the absolute highest value out of either MRs or URs requires transfer to partners. Both AMEX and Chase have an excellent assortment of partners but one might be more suitable for someone than the other. Both MRs and URs are estimated to be worth roughly 2 ccp each when transferred and it's possible to do even better. If not transferred, UR points are worth 1.5 ccp when redeemed through the Chase travel portal or 1 ccp for cash. MRs can be worth between 1 and 1.5 ccp for travel or gift cards, but sometimes less than 1 ccp, such as for cash.

Platinum particularly excels for people who spend a lot on airfare and highly value airport lounge access. The 5x MR earnings on flights are outstanding and AMEX Platinum offers the best airport lounge access on any premium travel card. (CSR includes just the Priority Pass Select lounge network.) Platinum also earns 5x MR on hotels if you book through AMEX. Full disclosure is that I fly often but I don't buy a lot of airfare as that is covered directly by my employer. On the downside, AMEX fee credits are very narrowly-focused and can be difficult to completely recoup. For example, there is the $200 UBER credit but it's value of course depends on your regular use of UBER since it's credited at $15 per month, plus a December bonus. There are focused credits on the Hotel Collection and Fine Hotels and Resorts. There's also a $100 credit for Sak's department store, and it's further broken into (2) $50 semi-annual credits. Without organic use of all these credits, it can be easy to leave money on the table (from your upfront-AF.)

Chase's definition of travel goes far beyond flights and includes: airlines, hotels, motels, timeshare, car rentals, cruise lines, travel agencies, discount travel sites, campgrounds, and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages. I really appreciate how CSR is more a general-purpose travel card that doesn't revolve mainly around flights. And unlike the narrow AMEX credits above, CSR automatically gives you a $300 credit against any charges in these travel categories, regardless of when and how much you charge per month. So you can use all your credit in one month or in different charges throughout the year. The flexibility of the $300 credit is one major reason I chose the CSR since it was more useful to me.

I dine out a lot, both when traveling and at home. I like that CSR gives me a higher earning rate (3x UR) on dining as well as travel, all uncapped. AMEX Platinum earns 1x MR on dining. (While AMEX Gold is a great 4x MR dining card and a complement to Platinum, the CSR could fill niches for both travel and dining with only one AF.)

When Chase increased the AF from $450 to $550 last year, they added some Door Dash/Dash Pass credits that are narrowly-focused like the AMEX ones. I didn't like that but it wasn't enough to cancel my card over it.

Both cards provide $100 TSA Global Entry reimbursement, so that's a wash.

Both cards provide enhanced shopping protections: Purchase Protection, Return Protection, Extended Warranty Protection.

Platinum gives you automatic 'Gold' hotel status with both Marriott and Hilton; CSR doesn't include any hotel status. That wasn't a deal breaker for me.

While AMEX upped their game on travel protections a couple of years ago, CSR still offers better coverage and some of the best available on any card. That includes primary rental car CDW coverage instead of secondary, which means if there is a claim, your personal insurance policy doesn't need to be involved. No deductible and no risk of your rate increasing. CSR also includes true Roadside Assistance (not just a dispatcher), which pays the first $50 in calls up to 4x per year. It's equivalent to a basic AAA coverage costing about $50+ per year. CSR also includes:

Up to $1 Million Accidental Death & Dismemberment Insurance
Trip Cancellation (@ $10K/person; $20K per trip)
Baggage Delay (Over 6 hours for up to $100/day for up to 5 days)
Lost Baggage (Up to $3K per passenger)
Trip Delay (Over 6 hours up to $500 per ticket)
Emergency Evacuation and Transportation (up to $100K)
Emergency Medical and Dental care (more than 100 miles away from home; up to $2500)

The travel protections were a major appeal to me, but YMMV. This link to another thread includes some graphics I posted from a travel website comparing card travel protections:

https://ficoforums.myfico.com/t5/Credit-Cards/What-is-BoA-s-niche-market-for-the-Premium-Rewards-card-with/m-p/5905623#M1697270

Both cards allow you to combine MRs or URs from other AMEX/Chase cards, but I feel the Chase bi-fecta, tri-fecta, or quad-fecta cards are a better value. Some of the AMEX MR-earning cards have additional AFs while the Chase ones do not all have AFs. The Freedom / Freedom Flex 5% categories, the INK Cash 5% categories, and the Freedom Unlimited 1.5% can all transfer earnings over to CSR as URs where they are worth 50% more value when redeemed through the Chase portal. For example, this gives me effectively a 7.5% return on my monthly cellphone bill as well as my cable tv-internet bills when I move the URs to CSR. Ditto for the Freedom's 5% on quarterly categories. Since I don't transfer to airline partners, this is a huge benefit to me.

In summary, both are great cards but I feel that Chase Sapphire Reserve offers me much better value in my overall travels (and dining) and more easily reclaimed credits against the AF than AMEX Platinum.

Re: Amex Platinum or Chase Sapphire Reserve

cashorcharge — Fri, 02 Apr 2021 19:49:38 GMT

I would agree with both @K-in-Boston & @Aim_High

I would add that it's my perception that AMEX does a better job of "giving you credits back to your account immediately" for offers they have which have a direct coorrelation to your balance in any given month...versus Chase who has some of those deals, but I feel like more of them are geared towards getting points to then apply back to your account once the account statements. I've had months recently where I've used the AMEX offers and both the charge and the credit were posted within a few days during a statement period. Perhaps it's me, but I think I'm using the AMEX benefits more. YEMV

Re: Amex Platinum or Chase Sapphire Reserve

Anonymous — Sat, 03 Apr 2021 16:27:26 GMT

@Aim_High wrote:
IMO, @Anonymous, while these are both leading premium travel cards, they are two very different cards for different lifestyles and uses. They both have their strengths and weaknesses based on your spending and usage.   I considered both cards a few years ago and decided the Chase Sapphire Reserve was a better match for me.   While I'll tell you some of Platinum's strengths, I'll focus a little more on why I think CSR can be a better card in some cases.

They both charge $550 AF, so they are both intended for people able to justify that fee with moderate to heavy travel patterns.   From a pure value proposition, these aren't cards for the infrequent traveler.    Rumors are that the Platinum AF may be increasing to $695 in 2021 Q3 so factor that into your valuation.

As mentioned above, travel partners are one major consideration but it goes much deeper than that. But getting the absolute highest value out of either MRs or URs requires transfer to partners. Both AMEX and Chase have an excellent assortment of partners but one might be more suitable for someone than the other.   Both MRs and URs are estimated to be worth roughly 2 ccp each when transferred and it's possible to do even better. If not transferred, UR points are worth 1.5 ccp when redeemed through the Chase travel portal or 1 ccp for cash. MRs can be worth between 1 and 1.5 ccp for travel or gift cards, but sometimes less than 1 ccp, such as for cash.

Platinum particularly excels for people who spend a lot on airfare and highly value airport lounge access. The 5x MR earnings on flights are outstanding and AMEX Platinum offers the best airport lounge access on any premium travel card.   (CSR includes just the Priority Pass Select lounge network.) Platinum also earns 5x MR on hotels if you book through AMEX.   Full disclosure is that I fly often but I don't buy a lot of airfare as that is covered directly by my employer. On the downside, AMEX fee credits are very narrowly-focused and can be difficult to completely recoup. For example, there is the $200 UBER credit but it's value of course depends on your regular use of UBER since it's credited at $15 per month, plus a December bonus.   There are focused credits on the Hotel Collection and Fine Hotels and Resorts. There's also a $100 credit for Sak's department store, and it's further broken into (2) $50 semi-annual credits. Without organic use of all these credits, it can be easy to leave money on the table (from your upfront-AF.)

Chase's definition of travel goes far beyond flights and includes: airlines, hotels, motels, timeshare, car rentals, cruise lines, travel agencies, discount travel sites, campgrounds, and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages. I really appreciate how CSR is more a general-purpose travel card that doesn't revolve mainly around flights. And unlike the narrow AMEX credits above, CSR automatically gives you a $300 credit against any charges in these travel categories, regardless of when and how much you charge per month. So you can use all your credit in one month or in different charges throughout the year.    The flexibility of the $300 credit is one major reason I chose the CSR since it was more useful to me.

I dine out a lot, both when traveling and at home. I like that CSR gives me a higher earning rate (3x UR) on dining as well as travel, all uncapped. AMEX Platinum earns 1x MR on dining. (While AMEX Gold is a great 4x MR dining card and a complement to Platinum, the CSR could fill niches for both travel and dining with only one AF.)

When Chase increased the AF from $450 to $550 last year, they added some Door Dash/Dash Pass credits that are narrowly-focused like the AMEX ones. I didn't like that but it wasn't enough to cancel my card over it.

Both cards provide $100 TSA Global Entry reimbursement, so that's a wash.

Both cards provide enhanced shopping protections: Purchase Protection, Return Protection, Extended Warranty Protection.

Platinum gives you automatic 'Gold' hotel status with both Marriott and Hilton; CSR doesn't include any hotel status. That wasn't a deal breaker for me.

While AMEX upped their game on travel protections a couple of years ago, CSR still offers better coverage and some of the best available on any card. That includes primary rental car CDW coverage instead of secondary, which means if there is a claim, your personal insurance policy doesn't need to be involved. No deductible and no risk of your rate increasing. CSR also includes true Roadside Assistance (not just a dispatcher), which pays the first $50 in calls up to 4x per year. It's equivalent to a basic AAA coverage costing about $50+ per year.    CSR also includes:

Up to $1 Million Accidental Death & Dismemberment Insurance
Trip Cancellation (@ $10K/person; $20K per trip)
Baggage Delay (Over 6 hours for up to $100/day for up to 5 days)
Lost Baggage (Up to $3K per passenger)
Trip Delay (Over 6 hours up to $500 per ticket)
Emergency Evacuation and Transportation (up to $100K)
Emergency Medical and Dental care (more than 100 miles away from home; up to $2500)
The travel protections were a major appeal to me, but YMMV. This link to another thread includes some graphics I posted from a travel website comparing card travel protections:
https://ficoforums.myfico.com/t5/Credit-Cards/What-is-BoA-s-niche-market-for-the-Premium-Rewards-card-with/m-p/5905623#M1697270

Both cards allow you to combine MRs or URs from other AMEX/Chase cards, but I feel the Chase bi-fecta, tri-fecta, or quad-fecta cards are a better value. Some of the AMEX MR-earning cards have additional AFs while the Chase ones do not all have AFs. The Freedom / Freedom Flex 5% categories, the INK Cash 5% categories, and the Freedom Unlimited 1.5% can all transfer earnings over to CSR as URs where they are worth 50% more value when redeemed through the Chase portal.   For example, this gives me effectively a 7.5% return on my monthly cellphone bill as well as my cable tv-internet bills when I move the URs to CSR. Ditto for the Freedom's 5% on quarterly categories. Since I don't transfer to airline partners, this is a huge benefit to me.

In summary, both are great cards but I feel that Chase Sapphire Reserve offers me much better value in my overall travels (and dining) and more easily reclaimed credits against the AF than AMEX Platinum.

This was so well put together and very easy to follow, thank you!!! Definitely have some time to make my decision and track what would make more sense. Especially with platinum fee maybe going up might be better to wait and see what happens there as well.