topic Re: Chase Sapphire Preferred > Amex Platinum in Credit Cards

Chase Sapphire Preferred > Amex Platinum

Anonymous — Sun, 29 Apr 2012 03:20:33 GMT

...as a travel card.

Here's why,

Cost -

- Platinum has a $450 annual fee

- CSP offered 50,000 bonus points (the equivalent of 500$), and only a 75$ AF

Rewards -

- Platinum gives 1pt per $ and 2pts per $ for travel via amextravel

- CSP gives 1pt per $ + 2pts per $ on ALL travel and dining + 3pts per $ for travel via Ultimate Rewards

- Both have online malls which aren't comparable to ShopDiscover so I won't get into that aspect

Card Aesthics -

- Platinum PLAstic...$450 and I can't even get a fancy looking card. However, it is a well recognized status symbol.

- CSP Metal and makes me dislike all of the other cards in my wallet. The numbers are also on the back haven't had someone not acknowledge its nice design yet!

Other -

- Platinum does give access to some airport lounges, reimburses 200$ in airline fees, gives automatic top tier status for car rentals, and few other memberships

- Chase haven't found any hiden benefit

Honestly, as a true travel card I find CSP is the better card. I did use my platinum for a airline fee which was credited back to me very quickly, but other than that...its just like any other charge card amex carries...

..IMHO.

Re: Chase Sapphire Preferred > Amex Platinum

Anonymous — Sun, 29 Apr 2012 03:25:03 GMT

If you like CSP, I am surprised you don't use the triple combo thing with Freedom and checking. I used to get statements credits for our Freedom cards, but after CSP, I just transfer all the UR points.

Re: Chase Sapphire Preferred > Amex Platinum

Anonymous — Sun, 29 Apr 2012 03:44:51 GMT

@Anonymous wrote:
If you like CSP, I am surprised you don't use the triple combo thing with Freedom and checking. I used to get statements credits for our Freedom cards, but after CSP, I just transfer all the UR points.

I definitely considered this....but I don't bank with Chase and I have the Discover More so it wasn't much of an incentive to get the Freedom. I read about this on pointsguy and if you have all 3 its a terrific combo. If the Freedom has a good sign on bonus in the future like the CSP did then i may reconsider.

Re: Chase Sapphire Preferred > Amex Platinum

Open123 — Sun, 29 Apr 2012 15:31:28 GMT

One benefit the Platinum has over the CSP is the FHR program.

While on the surface, this seems like a worthless program where you often pay a higher price than is found on the net, which is true regarding hotels that are freely offered with rewards programs (such as SPG, Hyatt, Hilton etc…) and can be had at deeply discounted prices such as hotwire, expedia, and the myriad of discount sites.

This however isn’t the case if you were to stay in hotels such as the Mandarin, Four Seasons, Ritz Carlton, or the Peninsula. These old world luxury hotels even eschew rewards programs believing that customer loyalty is gained through top-drawer service rather than discounting or perks. These hotel chains have absolute price integrity, never offer discounts of any kind, and you will never find them at a better price at sites such as hotwire.com or expedia. The rare upgrades on these hotels are only offered to their preferred guests and through the FHR program.

The only exception is the Ritz very recently offering a rewards programs. Even with rewards points, the privilege to upgrade to a club level room requires the member to pay a non-discounted or corporate rate for the upgrade, unless booked with the Platinum card which has no such limitation when upgrading to any available club room, and not only those reserved for upgrades.

This is where the Platinum’s FHR program shines. For shorter stays, the rates with these hotels are almost always cheaper through the FHR program than can be had anywhere else. Amex Plat holders will pay less for rooms than Ritz Carlton cardholders, especially for shorter stays. The reason for this is because these hotels have such absolute price integrity; the discount from the FHR program actually means something.

Also, with the Ritz card, you’re required to stay at least 2 nights before using the $100 credit, whereas with the Platinum card, there is no requirement.

For anyone who stays at these hotels several times per year, the Platinum card has considerable benefits, especially the treatment you receive at those hotels that continue to eschew any kind of rewards program or miles exchange of any kind.

Re: Chase Sapphire Preferred > Amex Platinum

Open123 — Sun, 29 Apr 2012 15:39:39 GMT

Follow up...RE - Value of CSP

The value of the CSP is that it allows for points elsewhere to transfer into the Ritz.

This is valuable because unlike SPGs, Hyatts, or Hilton/airlines, Ritz Carlton stays will never be approved for as a business expense. Approving for stays at the Ritz on shareolders money just looks bad, and even raises the eyebrows during an audit; however, more plebian names such as spg, hyatt, and even marriott however expensive or lavish is accepted as "business travel."

So, with the Marriott card or CSP, you can actually use it for corporate travel to accrue points while being reimbursed using those points to stay at the Ritz during your personal vacation. This is why I find Chase's association with the Ritz a great deal. It's the first time I've seen a hotel in the class of the Ritz participate and honor points from another rewards program. Eventhough Marriott owns the Ritz who uses the same program, you can only be a member of one program, since the Ritz is unwilling to honor Marriott's Platinum status as their own.

Only downside is there are around 13 or so Ritz's around the world who refuse to participate in this program believing it will dilute and diminish the end user experience. For these Ritz's that refuse to participate, the only discount or upgrade possibility is offered through the FHR program.

I didn't mean it to be this long, but I wanted to illustrate that benefits aren't always as they seem on the surface. I've read many views finding the Ritz as a non-eventful transfer partner for the CSP. In my estimation, that couldn't be more wrong, since it's the only way one can utilize his/her work travel points accrued for a personal vacation in a hotel that couldn't be had for less otherwise.

Re: Chase Sapphire Preferred > Amex Platinum

clocktick — Sun, 29 Apr 2012 15:58:59 GMT

The CSP has a $95AF. How do you get offered the 50k points?

Re: Chase Sapphire Preferred > Amex Platinum

Anonymous — Sun, 29 Apr 2012 16:03:14 GMT

@Open123 wrote:
One benefit the Platinum has over the CSP is the FHR program.

While on the surface, this seems like a worthless program where you often pay a higher price than is found on the net, which is true regarding hotels that are freely offered with rewards programs (such as SPG, Hyatt, Hilton etc…) and can be had at deeply discounted prices such as hotwire, expedia, and the myriad of discount sites.

This however isn’t the case if you were to stay in hotels such as the Mandarin, Four Seasons, Ritz Carlton, or the Peninsula. These old world luxury hotels even eschew rewards programs believing that customer loyalty is gained through top-drawer service rather than discounting or perks. These hotel chains have absolute price integrity, never offer discounts of any kind, and you will never find them at a better price at sites such as hotwire.com or expedia. The rare upgrades on these hotels are only offered to their preferred guests and through the FHR program.

The only exception is the Ritz very recently offering a rewards programs. Even with rewards points, the privilege to upgrade to a club level room requires the member to pay a non-discounted or corporate rate for the upgrade, unless booked with the Platinum card which has no such limitation when upgrading to any available club room, and not only those reserved for upgrades.

This is where the Platinum’s FHR program shines. For shorter stays, the rates with these hotels are almost always cheaper through the FHR program than can be had anywhere else. Amex Plat holders will pay less for rooms than Ritz Carlton cardholders, especially for shorter stays. The reason for this is because these hotels have such absolute price integrity; the discount from the FHR program actually means something.

Also, with the Ritz card, you’re required to stay at least 2 nights before using the $100 credit, whereas with the Platinum card, there is no requirement.

For anyone who stays at these hotels several times per year, the Platinum card has considerable benefits, especially the treatment you receive at those hotels that continue to eschew any kind of rewards program or miles exchange of any kind.

Hey Open123, I do agree that Amex has a great FHR.. Although Visa Signature hotels are somewhat comparable, as Visa Signature has Mandarin oriental as a possible option in a few cities I looked into. Although it is difficult to compare them directly.

Re: Chase Sapphire Preferred > Amex Platinum

Open123 — Sun, 29 Apr 2012 16:10:20 GMT

@clocktick wrote:
The CSP has a $95AF. How do you get offered the 50k points?

It was a sign up bonus, but the deal has expired.

The current one is offering 40k bonus points (spend $3k in 3 months) for being approved for the CSP.

Re: Chase Sapphire Preferred > Amex Platinum

Open123 — Sun, 29 Apr 2012 16:12:48 GMT

@Anonymous wrote:
Hey Open123, I do agree that Amex has a great FHR.. Although Visa Signature hotels are somewhat comparable, as Visa Signature has Mandarin oriental as a possible option in a few cities I looked into. Although it is difficult to compare them directly.

Unfortunately, I'm not as well versed into Visa Sig' program, but if you have any insights on how I could utilize it, I'd be very grateful!

Now that I've decided the CSP is an absolute keeper, I'm open to any insights on how to better utilize the card and the Visa Sig benefits.

Re: Chase Sapphire Preferred > Amex Platinum

Anonymous — Sun, 29 Apr 2012 16:29:27 GMT

Open123, EXCELLENT point... i definitely neglected to mention Fine Hotels & Resorts and also most of the come with resort credits and such. Great point, thanks for the add.

For basic travel purposes and point redemption, I still stick to CSP.

I'm still trying to find a reason to spend on my platinum because spending seems to be rewarded better with CSP. Amex has great perks though, the point advance, 20% back if you book through their travel...still not much reason to actually put money on it unless traveling internationally or like Open mentioned for FHR and I mentioned earlier the Lounges, car rentals, etc.

Re: Chase Sapphire Preferred > Amex Platinum

Anonymous — Sun, 29 Apr 2012 16:31:04 GMT

@Open123 wrote:
@Anonymous wrote:
Hey Open123, I do agree that Amex has a great FHR.. Although Visa Signature hotels are somewhat comparable, as Visa Signature has Mandarin oriental as a possible option in a few cities I looked into. Although it is difficult to compare them directly.

Unfortunately, I'm not as well versed into Visa Sig' program, but if you have any insights on how I could utilize it, I'd be very grateful!

Now that I've decided the CSP is an absolute keeper, I'm open to any insights on how to better utilize the card and the Visa Sig benefits.

Honestly, I've found their travel website to be cheaper than going through the actually carrier. But, i'm also +1 on how to better use it...

Re: Chase Sapphire Preferred > Amex Platinum

Open123 — Sun, 29 Apr 2012 16:33:25 GMT

@Anonymous wrote:

For basic travel purposes and point redemption, I still stick to CSP.

Likewise.

I hardly ever spend on the business Platinum, but use it only for the benefits, and being able to write off half the fee. For business spending, I'd rather use the new Amex Blue card that after year 3 will have a 30% bonus on spending.

I agree that more and more of my spending is starting to accrue on my CSP.

Re: Chase Sapphire Preferred > Amex Platinum

Anonymous — Sun, 29 Apr 2012 16:37:57 GMT

@Open123 wrote:
@Anonymous wrote:

For basic travel purposes and point redemption, I still stick to CSP.

Likewise.

I hardly ever spend on the business Platinum, but use it only for the benefits, and being able to write off half the fee. For business spending, I'd rather use the new Amex Blue card that after year 3 will have a 30% bonus on spending.

I agree that more and more of my spending is starting to accrue on my CSP.

My only thought for the CSP is that it needs more "Preferred" benefits like American Express has ...because the card and reward structure is perfect, but you don't get the same access to benefits..

I don't think I could have one without the other though :-/

Re: Chase Sapphire Preferred > Amex Platinum

Open123 — Sun, 29 Apr 2012 16:55:39 GMT

I find the CSP such a good value already, I'm not sure what else they could include. For $95, it's just hard to believe they won't raise the fee or reduce the perks over time.

Re: Chase Sapphire Preferred > Amex Platinum

SuperKirby — Sat, 09 Feb 2013 06:10:50 GMT

I love having both, heres why:

Obviously as we have already established, the CSP is BY FAR the better spending card. (1) Two pts on travel & dining, (2) Three pts when purchasing travel thru the UR website, (3) 3-10 pts in the UR Mall with lots of choices, (4) 7% annual points dividend return!, and (5) VISA is accepted EVERYWHERE. And I personally like transferring points to United Airlines miles. Even if you don't like transferring points to miles, you can (6) redeem your UR pts on UR travel and its 20% off!

Amex Plat is (1) one pt on everything, (2) Two pts travel thru MR, (3) NO MALL (inexistent for 9+ months now?), (4) NO annual bonus, and u (5) cant use Amex everywhere. As of Feb 1, 2013, you (6) will not get the 20% off if you redeem points on MR travel. With SIX clear reasons, the Amex Plat should not be used if you want to earn points/miles.

Now, before obtaining my Amex plat, i was spending approx $50-100 for baggage fees per roundtrip (depending if its 1-2 people), going on avg 4 flights a year. Thats at around $200-400 a year. Obviously with Plat, thats easily $200 less, and I can now enjoy the lounges. In addition, when I rent a car, I use Amex's Premium car rental insurance (for a $25 fee per rental) which is set as my primary insurance, therefore I do not have to go thru my personal insurance if there is an accident in which i may have to pay a deductible. CSP's auto rental policy only covers as a secondary with no option to pay for a primary.

I don't even use Global Entry, FHResorts, or Starwood and I still enjoy the Amex Plat for those three things (Incidental fees, lounges, and primary auto rental coverage). I don't use concierge on either because im a control freak so I have to do everything myself (which i've heard others on FT say the same). In a couple of years when I travel internationally, the Global Entry will be nice.

As you can see, I agree that it really is comparing apples to oranges. If you like points and miles, CSP. If you like the perks and fancy benefits go with Amex Plat. If you like both, go with both! So simple!!!!!! Isn't life about doing what you want?

Re: Chase Sapphire Preferred > Amex Platinum

Anonymous — Sat, 09 Feb 2013 15:44:58 GMT

@SuperKirby wrote:
I love having both, heres why:

Obviously as we have already established, the CSP is BY FAR the better spending card. (1) Two pts on travel & dining, (2) Three pts when purchasing travel thru the UR website, (3) 3-10 pts in the UR Mall with lots of choices, (4) 7% annual points dividend return!, and (5) VISA is accepted EVERYWHERE. And I personally like transferring points to United Airlines miles. Even if you don't like transferring points to miles, you can (6) redeem your UR pts on UR travel and its 20% off!

Amex Plat is (1) one pt on everything, (2) Two pts travel thru MR, (3) NO MALL (inexistent for 9+ months now?), (4) NO annual bonus, and u (5) cant use Amex everywhere. As of Feb 1, 2013, you (6) will not get the 20% off if you redeem points on MR travel. With SIX clear reasons, the Amex Plat should not be used if you want to earn points/miles.

Now, before obtaining my Amex plat, i was spending approx $50-100 for baggage fees per roundtrip (depending if its 1-2 people), going on avg 4 flights a year. Thats at around $200-400 a year. Obviously with Plat, thats easily $200 less, and I can now enjoy the lounges. In addition, when I rent a car, I use Amex's Premium car rental insurance (for a $25 fee per rental) which is set as my primary insurance, therefore I do not have to go thru my personal insurance if there is an accident in which i may have to pay a deductible. CSP's auto rental policy only covers as a secondary with no option to pay for a primary.

I don't even use Global Entry, FHResorts, or Starwood and I still enjoy the Amex Plat for those three things (Incidental fees, lounges, and primary auto rental coverage). I don't use concierge on either because im a control freak so I have to do everything myself (which i've heard others on FT say the same). In a couple of years when I travel internationally, the Global Entry will be nice.

As you can see, I agree that it really is comparing apples to oranges. If you like points and miles, CSP. If you like the perks and fancy benefits go with Amex Plat. If you like both, go with both! So simple!!!!!! Isn't life about doing what you want?

As someone who has both (plat through my parents business). this post is spot on! thanks for sharing with everyone

Re: Chase Sapphire Preferred > Amex Platinum

FutureBillionaire — Sat, 09 Feb 2013 16:59:16 GMT

@Anonymous wrote:
@Anonymous wrote:
If you like CSP, I am surprised you don't use the triple combo thing with Freedom and checking. I used to get statements credits for our Freedom cards, but after CSP, I just transfer all the UR points.
I definitely considered this....but I don't bank with Chase and I have the Discover More so it wasn't much of an incentive to get the Freedom. I read about this on pointsguy and if you have all 3 its a terrific combo. If the Freedom has a good sign on bonus in the future like the CSP did then i may reconsider.

Do they still do the checking account bonus thing?

Re: Chase Sapphire Preferred > Amex Platinum

FutureBillionaire — Sat, 09 Feb 2013 17:05:19 GMT

It seems to me that you are paying for the credits or perks up front with the annual fee. I'm not sure that the Platinum gives 450 bucks worth of extra benefits. The 200 dollar credit that you get for incidental fees is included in the annual fee. That leaves $250 bucks that I have paid. How do you itemize the other $250?

I have an Amex PRG that is probably going to get closed. I have used amex points towards ticket purchases for events. But, I don't really use that card to book travel. Maybe that's where I am missing the boat.

I need someone to explain to me in dollars how these annual fees allow you to come out on top. I see that $250 is unaccounted for.

Re: Chase Sapphire Preferred > Amex Platinum

SuperKirby — Sat, 09 Feb 2013 17:17:19 GMT

With the $250 left, I am using it for lounges and the ability to obtain the premium auto rental insurance used as a primary. In addition, I will be using Global Entry next year. As I continue to travel more, the lounges and Global Entry will make up for the remaining $250 AF. Remember, the regular priority pass is priced at $400 a year if bought seperately and $100 for Global Entry.

Re: Chase Sapphire Preferred > Amex Platinum

CreditScholar — Sat, 09 Feb 2013 17:46:08 GMT

The Amex plat is really designed for those who travel a lot. If you don't, it's unlikely that you'll find much value in it.