I have the plat, love it. I am considering just adding a gold into my wallet as well to take advantage of all of the multiplers for more every day things. I would say that even traveling 10x per year, the platinum card is probably worth it (especially since you can make use of the other offers/perks). The AF for the plat is pretty steep at $695, but they are pretty good about giving retention bonuses when renewal time comes around. I just got one for 55,000 points for $4k over the nexct 3 months. If you can swing the combined AF for both, you can rack up some serious points using each one at the right times.
@FinStar wrote:
@TomWB wrote:I don't use any of the services coverd by $240 entertainment credit, never used Walmart+, won't use most of the $200 airline fee, won't use the $300 Equinox credit. Plus I travel < 10 times/year, and most of the time I arrives at the airport 1 hr before takeoff, so there is no lounge time.
While the 150K offer can be very enticing, it basically boils down to whether you can maximize the AmEx Platinum 'coupon book'. If you can't justify the AF, let alone use any of the benefits, then it's best to leave things as is and forgo the upgrade (or new app altogether).
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@Anonymous wrote:
Right. I think the Plat is a fairly polarizing card here, some, get great value out of it and don't always realize that others can correctly decide the value proposition isn't there for them, now. As @FinStar says, if the "coupon book" places are part of your organic spend, it's likely to be an easy decision, otherwise not!
I wrestled with this same "upgrade offer" decision last year, @TomWB. I was tempted to do it but in my case, I knew up-front that it would be a short-term one year upgrade and then either back to Gold or even to cancel outright. When I came to My Fico, I was a little surprised at Platinum's popularity versus the AF/credits/perks. After hearing different perspectives, I now understant the card better and why it has such a valid appeal for some consumers. At the same time, it's not right for everyone including myself. I can't make organic use of the "coupon book" credits. I don't value the lounge perks highly enough. My likely redemption of MRs will probably yield a lower value than our frequent flyers, and I find much better overall value with Chase URs. So not only did I not upgrade or add a Platinum, I'm probably going to cancel my Gold card.
For people who travel often and have heavy business or personal travel spend, I could see how it might be worth diversifying into more than one travel-point ecosystem. For the average consumer who didn't fit that definition, focusing on one seems a more wise approach so-as not to dilute points for redemption. Consequently, I think when it comes to AMEX, it probably better to be all-in or all-out. If the cards fit you, add a Platinum, Gold, and Blue Business Plus or add some Business charge cards or maybe an Everyday/Everyday Preferred. If it doesn't fit you, probably better to find a different ecosystem that works better, even if it's cashback. And this is why I agree with @Anonymous that AMEX charge cards (and MRs) are polarizing here; they either fit you well ... or they don't.
@Aim_High wrote:
@FinStar wrote:
@TomWB wrote:I don't use any of the services coverd by $240 entertainment credit, never used Walmart+, won't use most of the $200 airline fee, won't use the $300 Equinox credit. Plus I travel < 10 times/year, and most of the time I arrives at the airport 1 hr before takeoff, so there is no lounge time.
While the 150K offer can be very enticing, it basically boils down to whether you can maximize the AmEx Platinum 'coupon book'. If you can't justify the AF, let alone use any of the benefits, then it's best to leave things as is and forgo the upgrade (or new app altogether).
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@Anonymous wrote:
Right. I think the Plat is a fairly polarizing card here, some, get great value out of it and don't always realize that others can correctly decide the value proposition isn't there for them, now. As @FinStar says, if the "coupon book" places are part of your organic spend, it's likely to be an easy decision, otherwise not!
I wrestled with this same "upgrade offer" decision last year, @TomWB. I was tempted to do it but in my case, I knew up-front that it would be a short-term one year upgrade and then either back to Gold or even to cancel outright. When I came to My Fico, I was a little surprised at Platinum's popularity versus the AF/credits/perks. After hearing different perspectives, I now understant the card better and why it has such a valid appeal for some consumers. At the same time, it's not right for everyone including myself. I can't make organic use of the "coupon book" credits. I don't value the lounge perks highly enough. My likely redemption of MRs will probably yield a lower value than our frequent flyers, and I find much better overall value with Chase URs. So not only did I not upgrade or add a Platinum, I'm probably going to cancel my Gold card.
For people who travel often and have heavy business or personal travel spend, I could see how it might be worth diversifying into more than one travel-point ecosystem. For the average consumer who didn't fit that definition, focusing on one seems a more wise approach so-as not to dilute points for redemption. Consequently, I think when it comes to AMEX, it probably better to be all-in or all-out. If the cards fit you, add a Platinum, Gold, and Blue Business Plus or add some Business charge cards or maybe an Everyday/Everyday Preferred. If it doesn't fit you, probably better to find a different ecosystem that works better, even if it's cashback. And this is why I agree with @Anonymous that AMEX charge cards (and MRs) are polarizing here; they either fit you well ... or they don't.
Thanks for your input. I am a bit curious about what factors made you get CSR over Plat. Is it just the point multiplier? Because after rethinking about this, I knew that if I would eventually get either the Plat or CSR. However, for me the extra perks that the plat has would justify for the extra $145, and Amex has better transfer partners. So, I might still get the Plat after all.
@TomWB wrote:Thanks for your input. I am a bit curious about what factors made you get CSR over Plat. Is it just the point multiplier? Because after rethinking about this, I knew that if I would eventually get either the Plat or CSR. However, for me the extra perks that the plat has would justify for the extra $145, and Amex has better transfer partners. So, I might still get the Plat after all.
You're welcome, @TomWB. The Platinum might be a better fit for you, but you'll have to do your own math and evaluate the value you place on intangibles like lounge access. Either way, it's probably not as simple as $145 ($695 - $550). It also depends on your spending (so therefore rewards points accrual), the value you place on the perks on either card, and the manner in which you would redeem points in either ecosystem, which would impact points value. Here are some of the factors that made me choose the Sapphire Reserve and why I feel I get better overall value from it.
- To start with, a lower AF. It was $450 versus $550 when I got the CSR in 2018 and it's $550 versus $695 in 2022. Verdict for travel card AF: CSR.
- Dining-out is a high spend area for me. CSR earns 3x UR on dining in addition to 3x on travel, all with one $550 AF. To get the higher-earning dining bonus with AMEX while also having a superior travel card, I would need to add the $250 AF of the Gold card. $695 + $250 = $945 in AFs versus $550 for CSR, creating a further AF “gap.” Verdict for combined travel/dining AFs: CSR.
- The $300 travel credit on CSR is just so easy to recoup. At any time during the year, any eligible travel purchase by Chase's wide definition (see link below) is automatically credited back to the account until your $300 is credited. I've usually gotten this back in the first month or two with absolutely no special effort on my part, and no change in my spending habits. As mentioned above, I don't really find any of the AMEX credits on the Gold or Platinum to be organic spend and the limited time-frames or other stipulations make redemption challenging. The closest approximation to CSR’s travel credit on Platinum is the $200 airline fee credit (which has to be from one pre-designated airline) or $179 for CLEAR membership. The CLEAR membership adds no value for me because it’s not something I would purchase anyway; it’s only at selected airports; and at my nearest large airport, the screening location isn’t convenient to my normal travels. Breakage from unused credits reduces my MR earnings more than from CSR. Verdict for ease of credits: CSR.
- Lifestyle credits are offered on both cards. Personally, I find these annoying, but at least Chase puts less emphasis on them. CSR offers Door Dash – free Dash Pass and a $120 annual Peloton credit. Platinum offers $200 Uber/Uber Eats, $300 on Equinox, $240 Digital Entertainment, $155 Walmart+ membership, and $100 Saks credit. That’s great … if you normally use these things. More useful credits could help offset the higher AFs. Verdict (in my case): CSR. But YMMV.
- I don't spend a lot of money on airfare annually and therefore, don't place as high a value on lounge access or on points earned for purchasing airfare as some consumers might place. For rewards earned purchasing airfare (5x) and for airport lounge access, the Platinum is exceptional. CSR has just the Priority Pass Lounge access which is also a portion of that provided by Platinum. While this is a valuable perk, Platinum has wider lounge privileges. CSR matches the 5x UR points on airfare booked through Chase; 3x points booked direct as with all travel. (AMEX allows 5x on direct booking with airlines.) I point all this out to say that Platinum shines in the airfare/airport lounge category; but this area wasn't my main priority when choosing a travel card. IMO, "travel" isn't just about flying. Verdict for airfare rewards earnings and airport lounge access: Platinum.
- On the other hand, CSR is a better general-purpose travel card with higher earnings and credits on all types of travel besides airline travel. You can read more about Chase's wide travel definition >HERE<. I even earn 3x on things like tolls, parking, car rental, and cruises. Verdict for flexible overall travel rewards: CSR.
- For hotels, Platinum earns 5x on hotels booked through AMEX. CSR earns 10x on hotels booked through Chase. Platinum would earn 1x point on hotels booked outside of AMEX while CSR earns 3x. Verdict for hotel rewards: CSR.
- For rental cars, booked through Chase, CSR earns 10x. For rental cars booked outside of Chase, rental cars earn 3x on CSR. Rental cars booked on Platinum earn 1x. Verdict for rental car rewards: CSR.
- For travel booked through Chase Ultimate Rewards, CSR earns a 50% premium on points. This in particular is where I was appalled at the difference in value. My MR comparison shows I would get about 1 cpp with MRs versus 1.5 cpp with URs. Verdict for in-portal travel redemption: CSR.
- If you're planning to transfer points to third parties, either card can be a good fit, especially depending on preferences with travel partners and ability to leverage value. Verdict for transfer to travel partners: Tie. But YMMV, depending on where and how you redeem.
- For cash value, URs are never worth less than 1 cpp. MRs can be worth as little as 6/10 cpp unless you have the Schwab Platinum, which does allow redemption for 1.1 cpp. While I don't plan to cash in my URs, it's nice to know I can for a higher value. Verdict for cash value: CSR without the Schwab Platinum. (And I have no Schwab accounts anyway.)
- The travel protections and insurances on the CSR as well as the Chase Ritz Carlton cards are industry-leading, period. Even after Platinum enhanced their travel protections a couple of years ago, CSR is still far ahead. Protections include Common Carrier AD&D up to $1 Million, Lost Baggage, Baggage Delay, Trip Delay, Trip Cancellation, Emergency Medical and Dental coverage, and Emergency Evacuation and Transport. Platinum requires payment-in-full on the ticket to claim some of those benefits on which CSR allows partial payment with the card. See more about the travel protection comparison >>HERE<< and follow the link in-message for a complete comparison at another website. I’ve never filed a claim, but these are perks I value highly in a travel card. Verdict for travel protections: CSR.
- CSR provides automatic PRIMARY rental car CDW at no additional fee. Many other cards provide it as SECONDARY coverage. Platinum allows you to add insurance – at additional cost – on a rental-by-rental basis. Verdict for rental car CDW: CSR.
- CSR provides Roadside Assistance, not just Roadside Dispatch. So not only will they coordinate benefits, but the card covers the first $50, 4x per year. That’s equivalent to basic AAA coverage, and when I priced it last time, it was worth $55 a year. Verdict: CSR.
- Like Platinum, CSR covers your TSA Global Entry fee every four years. Verdict for trusted traveler coverage: Tie.
- Both cards offer rental car discounts or elite status. AMEX with Avis, National, Hertz. CSR with Avis, National, and Audi Silvercar. Verdict for car rental discounts and status: Tie.
- Platinum offers automatic hotel elite status with Marriott (Gold) and Hilton (Gold.) CSR doesn’t offer hotel statuses. Verdict for hotel status: Platinum. (*I have automatic Marriot Gold status on my AMEX Bonvoy Brilliant, however, with credits that completely offset the $450 AF; Someone could do the same with AMEX Hilton Aspire card and achieve a higher Diamond status while offsetting the $450 AF fully with credits.)
- Both cards offer excellent but equivalent shopping protections: Extended Warranty; Purchase Protection; and Return Protection. Verdict for shopping protections: Tie.
- Both cards offer special luxury hotel amenities and credits. CSR has benefits and perks at the Visa Infinite Luxury Hotel Collection while AMEX has the Fine Hotels and Resorts program. Verdict: Tie.
- CSR is a Visa which has wider acceptance than American Express. Since I added AMEX back to my wallet a couple of years ago and tried to use it domestically, I still occassionally find places that don’t accept it. I don’t think I’ve ever had a merchant decline to take Visa. This doesn’t even count internationally, where AMEX is even less accepted than domestically. AMEX claims they've improved their acceptance rate. This may be true, but I know what I've encountered personally. Verdict for merchant acceptance: CSR.
- Both cards have no Foreign Transaction Fee. Verdict: Tie.
- Both cards offer the ability to pool points between different cards to enhance earnings. The CSR can be paired with the Freedom Flex, Freedom Unlimited, or INK cards. The Platinum can be paired with the Gold, Green, Everyday, Everyday Preferred, Blue Business Plus, or the Platinum/Gold/Green Business cards. There are only two cards that AMEX doesn’t charge an AF to earn MRs that I’m aware of: The Everyday and the Blue Business Plus. All of the others will add additional fees to your earning calculations. It can get expensive, especially depending on your ability and interest in off-setting those fees with the various AMEX credits. With Chase, the Freedom Flex, Freedom Unlimited, Ink Cash, and Ink Unlimited are all available with no additional fee on cards earning up to 5%, which can be multiplied 1.5x to 2x in portal or via transfer to partners. Verdict For the sake of argument, I’ll just call this a tie, but I personally believe the Chase combos offer more overall value as a points-earning system.
Platinum is a great travel card, but particularly for earning points on airfare, spending time in airport lounges, getting credits on airline fees or CLEAR membership is (which is primarily an air travel benefit,) and for transferring MR points to partner for future air travel. For overall fee/credit structure, usefulness for travel outside of airline flights, and bang-for-the-buck, I think the Chase Sapphire Reserve is still hard to beat.
@Aim_High wrote:Platinum is a great travel card, but particularly for earning points on airfare, spending time in airport lounges, getting credits on airline fees or CLEAR membership is (which is primarily an air travel benefit,) and for transferring MR points to partner for future air travel. For overall fee/credit structure, usefulness for travel outside of airline flights, and bang-for-the-buck, I think the Chase Sapphire Reserve is still hard to beat.
Wow, this is a really detailed guide. Thank you!!
@TomWB wrote:Thanks for your input. I am a bit curious about what factors made you get CSR over Plat. Is it just the point multiplier? Because after rethinking about this, I knew that if I would eventually get either the Plat or CSR. However, for me the extra perks that the plat has would justify for the extra $145, and Amex has better transfer partners. So, I might still get the Plat after all.
You're getting a lot of useful perspectives on the experiences people have had with, and reasons for getting or closing a Platinum card. Keep in mind the comment that, at the end of our lives, it's usually not the things we've done which we regret, but rather those things we haven't done. Getting a credit card with a SUB worth about $2,000 to pay the exhorbitant annual fee to try it on for a year to see if it fits, is in my mind one of those experiences which someone who travels might do well to try for themselves. There is a lot to unpack in the Platinum benefits and coupon book, and while it's good to hear about it, and one learns useful things from hearing both perspectives, I find it makes more sense only when I experience it.
