Here’s a breakdown answering is American Express or Chase better. Enjoy!
Links Mentioned In This Video:
- American Express vs Chase Blog – (…coming soon)
- Rich’s Video on How to Get Airport Lounge Access – https://youtu.be/O9jjHDMvkYU
- Best Travel Credit Cards – https://teachingmillionaires.com/recommends/best-travel-credit-cards
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Is American Express or Chase better? I love talking credit cards on this channel and this should be a really fun topic. So today I’m going to share with you like a little debate, like a head to head match up between like American expresses premium travel credit card, the American express platinum card versus Chase’s premium travel credit card, the chase Sapphire reserve, we’re going to get into everything like the, those annual fees, a ton of the perks. And I think you might be surprised of who comes out the winner. So you’re not going to want to miss this!
So you heard, right. It’s going to be difficult to answer. What’s better American express or chase. I’m sure you have your own opinion and you can let me know down in the comments, but before you do, don’t forget to hit that little thumbs up button, give this video a like, I love making credit card content and the more people that liked this video, the better it’ll do. And I’ll just keep making more and more videos right out the gate. I want to talk about annual fees. The American express platinum card has a $695 annual fee. That’s pretty hefty for our credit card and the chase Sapphire reserve. They just up their fee, it’s $550 for the annual fee. So if you sign up for one of those cards, you got to pay that fee. So let’s take a look at what you get when you sign up, it’s called a sign up bonus or a welcome offer.
Currently American express will give you 125,000 points when you sign up for the platinum card, but you do need to spend at least $6,000 in those first six months. So yeah, that’s pretty good. It just depends on what you’re going to end up using those points for. And we’ll get into all those redemptions later for the chase Sapphire reserve. They only give you 60,000 points when you sign up and that’s when you spend $4,000 in the first three months. So that’s really not much of a comparison. American express comes out on top easily. Even with that heftier fee, you can kind of justify it by getting almost more than double the amount of points when you sign up. All right, moving on. Let’s talk about earning points with the platinum card. You get like five X points. Sometimes even up to 10 X points.
If you are buying and using the card in specific sort of categories, there’s like a bonus spending. There’s a travel spending, but on all your other purchases, you’re only going to get one point. Whereas with the chase Sapphire reserve, they’re going to give you three X points on dining and restaurants. So I really like using the card for that three X points on anything that gets coded as travel. Then again, a similar to the platinum card. There are some bonus spending categories where you could get anywhere between five, all the way up to 10 points per dollar spent. So in my opinion, if you’re going to use this card only for travel then it’s pretty much a tie, but if you’re going to use this card to like, actually go out and use for your everyday purchases, then I might lean towards the chase Sapphire reserved just in terms of earning points.
Now what’s really cool. Both of these cards at the time of this recording have recently been updated. So the perks that are offered are her too long to even list here. I wanted to sort of chair you pick like a few that I know I would actually use and take advantage of. If you want a complete list, I’ll leave a link down below in the description to a blog post that I wrote going, going through all the different perks. The platinum card is going to give you access to some lounges. I just made like a whole video on how to get airport lounge access. And those Centurion lounges are incredible. I’m actually waiting to get this card for when I know I have travel when I’m going to be able to access the Centurion lounges, like more than once now, going over to the chase Sapphire reserve, they also give you lounge access, but it is limited to the priority pass network, along with like a few others sprinkled in there.
So if you’re somebody that likes this injury and lounges, you, you live near a hub where you know that you are going to be using airport lounges a lot. Then I definitely think that the platinum card comes out on top. However, some of the other perks like a $300 travel credit, that one is what you get with the chase Sapphire reserve, I think. And I know that that is much more easier to use and take advantage of then compared to the American express platinum travel credit, where you’d have to sort of like name the company that you’re going to be traveling with and not technically supposed to use it. Just like right off, like take it off your airfare. You’re supposed to use it for like travel incidentals, like checking your luggage and things like that. So for me, I’m going to side with the chase Sapphire reserve based on the perks that they offer.
And I actually use and take advantage of, I think that that card is going to come out on top. It’s not that I don’t love what the platinum card offers. I just think that from where I’m standing right now, taking into account the annual fee and the perks offered I’m just not going to end up using the platinum perks as much right now, compared to the chase Sapphire reserve. Now to help us decide the actual winner of this head-to-head match up. I’m just going to go through some pros and cons right now of each card. My pros for the American express platinum card is that they do have like a better sign up and welcome offer. You can also like use those points with more travel partners. And if you’re doing lots of travel, then this card is great. However, some of the cons are that it has that higher annual fee.
Some of the perks that they offer also are just like playing complicated is too much to keep track of. And it’s not like I want to always be thinking like, am I using this perk every single month? And then feel bad. Like if I forgot one month, I’m also really loving, like the Hyatt hotel line lately. And it does not have access to that as a travel partner. So that’s something that I personally would take into consideration now in terms of the chase Sapphire reserve pros it has that lower annual fee and it has access to a couple of like airline transfer partners and hotel transfer partners that I love like Southwest and the Hyatt. So I’m thinking in my head right now, you know, cheaper nights on the Hyatt and I’m thinking companion pass with Southwest also that travel credit it’s very easy to use.
So in my mind, I’m reducing the annual fee by $300 right off the bat. However, some cons taking into consideration that lower annual fee. You’re also getting a lower signup bonus. I mean, we’re talking less than half of what American express would give you. Also chase does have limited travel partners to transfer the points to that’s, how you get your best redemption values. So even though I like the high end Southwest, like it is a little limited, I just luckily prefer those those brands. And so it works out in my favor. So are you ready for the final verdict? You can probably see where I’m headed for this. If I could only pick one card to get, it would be the one that I currently have in my wallet and use. And that would be the chase Sapphire reserve. I think overall it’s the better card.
It has the lower annual fee. It has the travel credit. And don’t forget that those you are points I can transfer to partners that I actually like using in my everyday life and travel. Of course, I am going to get the platinum card, but I’m waiting because you only get that welcome offer once and I’m going to pay that annual fee. So I want to take advantage of some of the lounges. I want to make sure that we’re going through like, you know, New York city, some, some international locations, Vegas, things like that. And that travel just hasn’t been on our radar for the past couple of years. Okay. A couple of key takeaways. You really can’t go wrong with either of these cards. If you’re taking advantage of the perks that are offered a guy like me favors chase right now, but I am loving American express for when I use them for business cards and for their new checking account through cabbage.
I mean, they, they blow some of the other competition out of the water in those areas. But today I was specifically just focusing on their premiere and premium travel cards. I always like to know what you’re thinking. So let me know down in the comments what card you prefer and why also, if you haven’t already please drop a little, like down below for this video, it just really helps. I love making credit card videos. And so if hit like, then I will be happy. Thank you. Also, if you’re new to the channel, don’t forget to hit subscribe and ring that notification though. All right, as always I’m Rich and until next time.