Introduction
Premium travel / lifestyle credit cards have just had a refresh. Amex recently relaunched The Platinum Card, raising its annual fee significantly and adding a slew of new perks. Meanwhile, Chase has also retooled the Sapphire Reserve, increasing its fee and re-structuring benefits.
If you’re considering one (or both), which gives more bang for your buck? This article digs deep: comparing point-earnings, statement credits, lifestyle perks, travel benefits, ease of use, and alignment with spending patterns. By the end, you’ll know which card fits your habits, not just what looks flashy.
What Are the New Costs & Fees?
| Card | New Annual Fee | Comment |
|---|---|---|
| Amex Platinum | US$895 (up from US$695) | Big jump. Many of the new perks try to justify the increase. |
| Chase Sapphire Reserve | US$795 (up from US$550) | Also a sharp increase. Requires re-thinking whether you’ll use enough perks. |
Key Takeaway: Neither is “cheap” — whether the increased fee is worth it depends heavily on your travel, dining, lifestyle use. If you don’t use the perks, you’ll feel the cost.
Major Perks & Statement Credits — Side by Side
One of the biggest differences now is how many “statement credits / perks” each card offers, and whether – and how – you can realistically use them.
Let’s break them down by category:
Travel & Hotel Benefits
| Benefit | Amex Platinum | Sapphire Reserve |
|---|---|---|
| Travel credit (annual) | US$200 airline incidental fees (with selected airline) — covers baggage, seat selection etc. | US$300 travel credit for broad travel purchases (flights, hotels, etc.) annually. |
| Hotel credits | Up to US$600 in hotel credit via Amex Fine Hotels + Resorts / The Hotel Collection (split in two halves of year) | US$500 via The Edit (Chase’s curated hotels) in increments (bi-annual) plus benefits at those properties. |
| Airport lounge / travel protections | Very strong: Centurion Lounges, access to many partner lounges, plus premium travel insurance etc. | Also good lounge access (including Chase lounges) and strong travel insurance; recently enhanced perks. |
Dining, Entertainment, Lifestyle Perks
| Benefit | Amex Platinum | Sapphire Reserve |
|---|---|---|
| Dining credits / perks | US$400 via Resy (US$100 per quarter) for Resy-restaurant dining; plus Uber credits; etc. | Dining credits via “Exclusive Tables”, up to US$300 annually; plus other promo benefits with DoorDash etc. |
| Digital entertainment & subscriptions | Amex: US$300 digital entertainment credit (various streaming services etc.) | Sapphire: complimentary subscriptions (Apple TV+ & Apple Music etc.), and credits for entertainment tickets via StubHub etc. |
| Lifestyle / Shopping perks | Amex also offers new credits at Lululemon, on Oura Ring, Saks, etc. | Chase has perks tied to events, some shopping platforms, but less “shopping credit” diversity compared to Amex. |
Rewards / Points Earning & Redemption
Even with many perks, points and how they convert to actual value matter greatly.
- Amex Platinum still offers 5× points on flights purchased directly with airlines or via Amex Travel; high-volume spenders on airfare / luxury hotels may get more value this way.
- Chase Sapphire Reserve improved its earning rates: 8× on travel via Chase Travel, 4× on flights/hotels booked directly, etc.
However, useful value isn’t just “how many points per dollar” — it’s also how easy they are to redeem, and what transfer partners you have. For many users, Chase Ultimate Rewards has many strong travel partners, so you often get excellent redemption value. Amex also has strong partners but some policies (blackouts, availability, etc.) can affect real-world value.
Using vs Wasting the Perks — Real Life Scenarios
High fees + many perks = high potential value only if you actually use what matters. Let’s look at two hypothetical user profiles to see which card gives more net value.
| Profile | Uses / Spending Pattern | Which Card Likely Gives More Value |
|---|---|---|
| Frequent Traveller + Fine Dining Lover | Multiple flights/year, stays at luxury or boutique hotels; eats out often at high-end restaurants; also uses streaming & lifestyle subscriptions; maybe spends on clothes / fitness brands | Likely Amex Platinum, because the broader set of perks in dining, hotel, lifestyle can offset the higher fee more fully. If airline/hotel credits are fully utilised, the additional shopping/lifestyle credits (Lululemon, etc.) add up. |
| Moderate Traveler + Occasional Dining / Subscriptions | Travels a few times/year; dining out, but not always expensive; limited use of lifestyle credits; more budget-conscious | Chase Sapphire Reserve may be more efficient. The $300 travel credit (broad usage), more straightforward dining credits, good point earnings + easier redemption could produce more “net benefit per dollar fee”. |
Also, if you don’t travel often or don’t live near places that accept Resy or have upscale hotel options often, some of Amex’s perks may under-utilised. Same for any “coupon-book” style credits: if you forget to use them, they expire or don’t get you full value.
What’s Changed in 2025—Key Moves to Note
Amex and Chase aren’t standing still. Recent changes raise the bar, but also increase complexity and expectations.
- Amex fee jump: US$200 up to $895, but added new perks to justify it.
- Chase refresh: fee up to US$795; new credits (hotel, dining), improved earning rates, new features like “Points Boost” for redemptions.
- The “coupon-book” model is now very prominent: both cards now include many credits that you have to activate / opt-in or use through specific channels. Value only accrues if you keep track.
Overhead, Complexity & “Hidden Costs”
Perks are great—but there are non-trivial costs (besides the fee) to extract value.
- Opportunity cost: Time & attention required to use the credits fully (reading fine print, remembering to opt in, booking in “partner hotels”, etc.).
- Geographical limitations: Some perks are U.S.-centric. If you travel mostly outside U.S. (or live outside), you may find less partner coverage.
- Restrictions / blackout dates: Some benefits, especially hotel elite perks or transfer partner redemptions, may have availability constraints.
- Spending minimums / enrollment requirements: E.g. to get hotel credit, must use specified platforms; for some credits must spend in certain categories or via partner brands.
Comparative Summary: Which Card Is Better in Which Cases
Here is a summary – strong suits & drawbacks of each to help you decide.
| Feature | Amex Platinum — Strengths | Amex Platinum — Weaknesses | Chase Sapphire Reserve — Strengths | Chase Sapphire Reserve — Weaknesses |
|---|---|---|---|---|
| Premium travel & lounge access | Very strong; Amex’s global lounges, elite status in partnered hotel programs. | Many perks are “nice to have” only if you travel often; complexity. | Strong travel/lifestyle benefits; improved earning, good hotel credit, easier travel credit use. | Fee high; some credits need activation; some perks have limited partner choices. |
| Lifestyle / Dining / Shopping perks | Broader variety of benefits — Lululemon, Resy, streaming, etc. | If you don’t use / like those partners, many benefits go unused. | Some lifestyle perks, but less diversity; more focused on travel & dining. | Could feel less “luxury shopping” or less of the “status symbol” benefit. |
| Redemption value & points flexibility | Amex has strong transfer partners; good for luxury travel. | Sometimes harder to use; maybe less favourable for small redemptions; restrictions. | Chase Ultimate Rewards are flexible, often generous; newer Points Boost adds value. | Some uses restricted; might need to focus purchases in “right” categories to maximize. |
| Net value vs cost | Potentially very high if you can use many credits & travel often. | If underusing, you may pay for benefits you never use. | More balanced; more “fair” value even with moderate usage. | If usage is low, you still paying a high fee with fewer perks used. |
Actionable Tips — How to Decide & Maximize Value
Here are concrete steps to decide which card makes sense for you and how to get maximum value if you pick one.
- Track your past 12-month spending by category
- How much do you spend on travel (flights, hotels, car rentals)?
- Dining out vs groceries or casual dining?
- Lifestyle/shopping brands (luxury, fitness, streaming etc.)
- List the perks you will realistically use
- If you travel only once or twice/year, you may not need a huge hotel credit or elite status.
- If you dine often at high-end restaurants or use services like Resy, that perk becomes valuable.
- Calculate break-even point
- Add up value of travel credits + hotel credits + dining + entertainment you will use vs annual fee.
- Example: Suppose you can use US$600 hotel credit + US$400 dining + US$300 travel credit + other perks worth US$300 = total usable perks ~ US$1,600 vs fee of US$895 or US$795. That’s very good.
- Watch for enrollment / activation deadlines
- Many perks require enrolling, hitting thresholds, or using specific partner platforms. If you miss them, they vanish.
- Consider combining cards
- Some people carry both, using each where it shines. This is more useful if you can manage complexity and the extra fees. But carrying two premium cards is only worth it if the incremental benefit > incremental cost.
- Redeem smartly
- Transfer points to partners (hotels, airlines) when value > base redemption.
- Use “boosted” redemption features or offers.
Conclusion
Chase Sapphire Reserve and the relaunched Amex Platinum are both powerful premium cards.
- If you are a heavy traveler, love luxury hotels, often dine out, and frequently use lifestyle/shopping perks, Amex Platinum (2025 version) offers a broader set of perks and potentially higher total value—if you can use them.
- If you want easier to use perks, somewhat less complexity, and still strong travel & dining benefits, Chase Sapphire Reserve might be more balanced: somewhat lower cost burden if you don’t squeeze every single benefit.
Ultimately, the “best” card depends on your patterns — travel frequency, where you live / travel, what perks you value (luxury vs convenience vs flexibility).
Takeaways (Your Decision-Checklist)
- Do you travel ≥ 3 times/year, staying at premium hotels? → Amex Platinum probably offers more upside.
- Is dining out, lifestyle subscriptions, luxury shopping part of your monthly pattern? → Amex likely wins.
- Do you prefer simplicity, ease of redemption, fewer caveats? → Chase Sapphire Reserve might serve you better.
- Can you realistically “use up” enough credits to offset the high annual fee? If not, better to pick the card that gives usable value, not flashy ones.