Chase Sapphire Reserve vs. Amex Platinum: Which Premium Card Wins in 2026?

If you are serious about travel rewards, you have probably narrowed your premium card search down to these two heavyweights: the Chase Sapphire Reserve and the Platinum Card from American Express. Both carry substantial annual fees, both unlock airport lounges, and both earn valuable transferable points. But after the 2025 refreshes that reshaped both products, they are more different than ever.

We have spent hundreds of hours analyzing credit, earning rates, redemptions, and credits so you do not have to. Below is an honest, data-driven breakdown of every category that matters -- with a clear verdict at the end.

Quick Comparison Table

| Feature | Chase Sapphire Reserve | Amex Platinum | |---|---|---| | Annual Fee | $795 | $895 | | Sign-up Bonus | 125,000 UR points | Up to 175,000 MR points | | Bonus Value | ~$2,563 (at 2.05 cpp) | ~$3,500 (at 2.0 cpp) | | Spend Requirement | $6,000 in 3 months | $8,000 in 6 months | | Top Earning Rate | 8X Chase Travel, 4X flights/hotels, 3X dining | 5X flights and prepaid hotels via Amex Travel | | Base Rate | 1X | 1X | | Lounge Network | Priority Pass | Centurion Lounges + Priority Pass | | Hotel Credit | $500/yr (The Edit) | $600/yr (FHR + Hotel Collection) | | Dining Credit | $300/yr | $400/yr (Resy) | | Hotel Status | None | Hilton Gold + Marriott Gold | | Transfer Partners | 14+ | 21+ | | Portal Bonus | 1.5x point value | None (but 5X earning) | | Global Entry/TSA PreCheck | Yes | Yes |

Annual Fee and Effective Cost

The sticker prices are close: $795 for the Reserve versus $895 for the Platinum. That $100 gap narrows or widens depending on how many credits you actually use.

The Reserve bundles $500 in hotel credits (via The Edit program) plus $300 in dining credits. If you use both in full, your effective annual cost drops to negative $5 -- meaning you come out ahead before even counting points.

The Platinum packs in more raw credit value: $600 in hotel credits, $400 in Resy dining credits, $300 in Lululemon credits, $300 in digital entertainment, and an airline fee credit. On paper, that is well over $1,500 in credits. If you max them all, the card more than pays for itself. But here is the catch -- "if" is doing a lot of heavy lifting. Many cardholders never fully use the Lululemon or entertainment credits.

Edge: Chase Sapphire Reserve. The Reserve's credits are simpler and more universally useful. The Platinum has higher total credit value, but only if you can use every one of them.

Sign-up Bonus

The Amex Platinum currently offers up to 175,000 Membership Rewards points after spending $8,000 in 6 months. At a 2.0 cents-per-point valuation, that is roughly $3,500 in value -- one of the largest bonuses in the market.

The Chase Sapphire Reserve counters with 125,000 Ultimate Rewards points after $6,000 in 3 months. At a 2.05 cpp valuation, that is approximately $2,563.

The Platinum wins on raw bonus value, but the "up to" language matters. Amex frequently shows different bonus tiers depending on whether you apply directly, through a referral, or via a targeted offer. The 175K figure is the best current publicly available offer but is not guaranteed for every applicant. The Reserve's 125K, by contrast, is its standard public offer.

Also consider the spend requirements. The Reserve asks for $6,000 in 3 months, while the Platinum gives you 6 months for $8,000. Both are manageable for most applicants, but the Platinum's longer window can be easier to hit organically.

Edge: Amex Platinum, assuming you receive the full 175K offer.

Earning Rates

This is where the two cards diverge significantly.

The Chase Sapphire Reserve earns at multiple tiers:

• 8X on travel purchased through Chase Travel
• 4X on flights and hotels booked directly with airlines and hotels
• 3X on dining and select streaming services
• 1X on everything else

The Amex Platinum has a narrower earning structure:

• 5X on flights booked directly with airlines or through Amex Travel
• 5X on prepaid hotels booked through Amex Travel
• 1X on everything else

The Reserve clearly wins for everyday spending. If you spend $2,000 per month on dining, the Reserve earns 6,000 points per month (worth ~$123) versus 2,000 points on the Platinum (worth ~$40). That gap adds up fast over a year.

The Platinum is not designed to be your primary spending card. Amex expects you to pair it with the Amex Gold (4X dining, 4X groceries) for everyday purchases. The Platinum is a perks card that happens to earn well on flights.

Edge: Chase Sapphire Reserve, by a wide margin. It is a far better everyday spending card.

Lounge Access

Both cards include Priority Pass Select membership, granting access to 1,400+ lounges worldwide. But the Amex Platinum adds something the Reserve cannot match: Centurion Lounges.

American Express operates Centurion Lounges in major U.S. airports including JFK, SFO, DFW, LAX, MIA, SEA, and others. These are widely considered the best domestic airport lounges, with chef-curated menus, craft cocktails, spa services, and a level of quality that most Priority Pass lounges simply cannot touch.

The Reserve gives you Priority Pass only. Priority Pass lounges vary enormously in quality -- some are excellent, others are essentially a room with pretzels and soda.

It is worth noting that Centurion Lounges have implemented guest policies: you can bring two guests for free, but additional guests cost $50 each. During peak hours, some locations have wait times.

Edge: Amex Platinum, decisively. Centurion Lounges are the single strongest reason to choose the Platinum.

Travel and Statement Credits

Chase Sapphire Reserve

• $500/year hotel credit through The Edit by Chase Travel (new in 2025 refresh)
• $300/year dining credit via Sapphire Reserve Exclusive Tables
• Global Entry or TSA PreCheck credit (every 4 years)

Amex Platinum

• $600/year hotel credit split between Fine Hotels + Resorts and The Hotel Collection
• $400/year Resy dining credit ($100 per quarter)
• $300/year Lululemon credit ($75 per quarter)
• $300/year digital entertainment credit ($25/month, covers Disney+, Hulu, ESPN+, Peacock, The New York Times, and others)
• Airline fee credit for incidental charges on a selected airline
• Global Entry or TSA PreCheck credit (every 4 years)

The Platinum has more credits in absolute dollars, but they come with more restrictions. The hotel credit requires booking through Amex's FHR or Hotel Collection portals. The Lululemon credit only works at Lululemon. The entertainment credit covers specific streaming services at $25/month -- useful if you subscribe to those services, but wasted otherwise.

The Reserve's credits are more straightforward: a hotel credit that works across a broad program and a dining credit at high-end restaurants.

Edge: Tie. The Platinum has more credits by dollar amount. The Reserve has credits that are easier to use. Your lifestyle determines which is more valuable.

Hotel and Airline Status

The Amex Platinum provides complimentary:

• Hilton Honors Gold status (room upgrades, free breakfast at select properties, 5th night free on award stays)
• Marriott Bonvoy Gold status (room upgrades when available, 25% bonus points, enhanced late checkout)

The Chase Sapphire Reserve offers no automatic hotel or airline elite status.

This is a clear differentiator. Hilton Gold alone -- with its free breakfast benefit -- can save frequent travelers hundreds of dollars per year. Marriott Gold is less impactful (no guaranteed breakfast), but the room upgrade potential is still a nice perk.

Edge: Amex Platinum, clearly. Free status at two major chains is tangible value the Reserve does not match.

Transfer Partners

Chase Ultimate Rewards (14+ Partners)

Chase transfers to airlines like United, Southwest, British Airways, Air France/KLM (Flying Blue), Singapore Airlines, Virgin Atlantic, and JetBlue. Hotel partners include Hyatt and IHG. The standout is World of Hyatt, widely considered the best-value hotel loyalty program, with points worth approximately 1.7 cents each.

Amex Membership Rewards (21+ Partners)

Amex transfers to airlines such as Delta, ANA, Singapore Airlines, British Airways, Air France/KLM (Flying Blue), Cathay Pacific, Emirates, and JetBlue. Hotel partners include Hilton and Marriott. The list is broader, with several partners not available through Chase -- notably ANA (outstanding value for business class to Japan) and Delta (no Chase equivalent).

Both programs share some partners (British Airways, Singapore, Flying Blue, JetBlue), but each has unique sweet spots. Chase's Hyatt partnership is arguably the single most valuable transfer option in any program. Amex's ANA and Delta partnerships are strong counterpoints.

Edge: Amex Platinum for sheer breadth. Chase for hotel value (Hyatt). Call it a slight Amex advantage overall.

Travel Insurance and Protections

Both cards offer strong travel protection suites, but with some differences:

| Protection | Chase Sapphire Reserve | Amex Platinum | |---|---|---| | Trip Cancellation/Interruption | Up to $10,000 per person | Up to $10,000 per trip | | Trip Delay | $500 per ticket (6+ hrs) | $500 per trip (6+ hrs) | | Baggage Delay | $100/day for 5 days | Varies | | Lost Luggage | Up to $3,000 | Up to $3,000 | | Rental Car Insurance | Primary coverage | Secondary coverage | | Purchase Protection | 120 days, $500/claim | 90 days, $1,000/claim | | Return Protection | 90 days | 90 days |

The biggest difference is rental car insurance. The Reserve includes primary coverage, meaning it pays first before your personal auto insurance. The Platinum's coverage is secondary, meaning your personal insurance pays first. For frequent renters, this is a significant advantage for the Reserve -- it keeps claims off your personal policy and simplifies the process.

Edge: Chase Sapphire Reserve, primarily because of primary rental car insurance.

Dining Credits

The Reserve offers $300 per year through Sapphire Reserve Exclusive Tables, a curated dining program that provides credits at participating upscale restaurants.

The Platinum offers $400 per year in Resy dining credits, distributed as $100 per quarter. Resy is a widely used restaurant reservation platform, and the credit applies at Resy-partnered restaurants across the country. The quarterly structure encourages regular use and reduces the risk of forgetting to use the credit.

In practice, the Resy credit tends to be easier to use because of the platform's extensive restaurant network. The Reserve's Exclusive Tables program, while growing, covers fewer restaurants.

Edge: Amex Platinum. The $100 more per year and broader Resy restaurant network give the Platinum the advantage here.

Pros and Cons

Chase Sapphire Reserve

Amex Platinum

Final Verdict: Who Should Get Which Card?

After analyzing every major category, neither card is universally better. Your ideal choice depends on how you travel and spend.

Choose the Chase Sapphire Reserve if:

• You want one card that does everything -- earning, perks, and protections in a single product
• You spend heavily on dining and want to earn 3X without a second card
• You rent cars frequently and value primary rental car insurance
• You prefer simplicity over maximizing a dozen different credits
• You value the Hyatt transfer partnership and stay at Hyatt properties
• You use the Chase Travel portal regularly (where your points are worth 1.5x)

Choose the Amex Platinum if:

• Airport lounges are your top priority -- Centurion Lounges have no equivalent
• You already have (or plan to get) the Amex Gold to handle dining and grocery spending
• You stay at Hilton or Marriott properties and want free Gold status at both
• You fly internationally and want access to more airline transfer partners
• You can realistically use the Lululemon, streaming, and Resy credits
• You want the largest possible sign-up bonus to fund an aspirational trip

Or Consider Both

Many serious travel hackers carry both cards. The Amex Platinum handles lounges, status, and airline transfers, while the Reserve handles everyday spending, dining, and rental car insurance. If you can justify $1,690 in combined fees against the total credits and perks, the two-card strategy covers nearly every gap.

For most people choosing just one, we give a slight overall edge to the Chase Sapphire Reserve in 2026. Its earning rates, simpler credits, primary rental car insurance, and standalone versatility make it the more practical choice. But if lounges and status are your priorities, the Platinum remains unmatched.

Further Reading

• Best Travel Credit Cards for 2026 -- Our full rankings across all categories
• Credit Card Comparison Tool -- Build your own side-by-side comparison
• Points Value Calculator -- See what your points are really worth
• All Credit Cards We Review -- Browse every card in our database