IHG Rewards Premier credit card. Editorial disclaimer: Opinions expressed here are the authors alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. He primarily covers airlines and air travel. 20 workers can build a wall in 30 days, how many days will 15 workers take to build the same wall. CREDIT MONITORING. $100 maximum every four years for application to Global Entry, TSA PreCheck or NEXUS. We welcome your feedback. It will automatically apply to a broad range of travel purchases, while the $200 Amex airline credit only applies to select fees such as seat assignments or checked bags and you're limited to a single airline you designate each year. Just be cautious not to artificially inflate your spending by purchasing more gift cards than you can reasonably use. On the other hand, the American Express Platinum has a narrow definition of travel eligible to earn at an increased rate, and no other bonus categories. (Rates & Fees). read about my favorite perks of the Amex Platinum Card. To me that means the card has a real out of pocket of $250 annually, and for that you receive 3x points on dining and travel, the ability to maximize the value of Thats 28,000 Ultimate Rewards points per year, worth about $560 enough value to offset the cards annual fee. Get up to $300 back per calendar year on the Equinox+ digital fitness app, or eligible Equinox club memberships when you pay with your Platinum Card. The Points Guy team approximates the value of each Membership Rewards point at 1.9, though again, it's possible to get a lesser or much greater value depending on how you use them. fees? Eligibility and Benefit level varies by Card. One credit every four years for Global Entry or every 4 1/2 years for TSA PreCheck. Does it make sense to have Amex Gold and Chase Sapphire Reserve? Many or all of the offers on this site are from companies from which Insider receives compensation (for a full list. The annual percentage rate on your Amex Platinum is between 19.74% and 26.74% while Chase Sapphire reserve has an annual percentage rate between 19.99% and 26.99%. Make sure your credit card checks off these 5 boxes when traveling internationally. Terms, Conditions and Limitations Apply. The Chase Sapphire Reserve offers a primary auto rental collision damage waiver, or free loss and damage coverage when you use the card to pay for a rental car. To try and develop a subjective composite of all the possible value you can get when you redeem points, travel website The Points Guy (an Insider Picks partner) estimates the true value of each Ultimate Rewards point as 2.1. Here's why it might be worth having both cards. Some of the larger locations feature showers, too. This site does not include all credit card companies or all available credit card offers. Winner: The Amex Platinum takes the lead in this first category, especially if you are targeted for an elevated offer through CardMatch. If youre anything like me, the math may make sense on both cards. Basically, treat your credit card like a debit card. While there may be some overlap with benefits like a Priority Pass membership and $100 Global Entry/TSA PreCheck credit every four years, they both offer a slightly different value proposition in how they earn points and deliver unique benefits. Furthermore, I earn lots of bonus points and get great travel protection with the card. our office. Some people give Chase the edge since it partners with more programs you may already be familiar with and includes Hyatt (arguably the most lucrative hotel program based on the value of its points). 3x points on dining and travel. Becky Pokora is an avid traveler with a particular love for the outdoors. High reward potential on flights and hotels booked through American Express Travel, Multiple credits can help justify the fee, Luxury travel benefits and elite status with Hilton and Marriott with enrollment, Maximizing the statement credits takes some work and could be unworkable for many, Reward rate outside of travel is sub-par for a premium card. That means the 60,000 points earned from the sign-up. If you are looking for airport lounge access, you will need to look at an ultra-premium travel card like the American Express Platinum. Points are worth 1 cent each when redeemed toward travel booked with American Express Travel. Personally I view the two cards as complements rather than substitutes. Just decline the collision/damage/loss coverage offered by the rental agency. Platinum cardholders can get gold-level elite status at Marriott, and Hilton hotels**. Complimentary DoorDash DashPass membership through Dec. 31, 2024, plus a $5 monthly credit. Best Overall: Chase Sapphire Preferred Card. Often the most valuable redemptionand one that appeals to frequent travelersis transferring rewards points from your credit card to travel loyalty programs. Get the Chase Sapphire Reserve, Do you want the best card for airport lounge access, a huge number of credits that could way more than justify the annual fee, useful mid-tier hotel status with two programs, 5x points on airfare, and more? 1.5 cents per point for select charitable donations through Dec. 31, 2023. The former built the market for premium rewards cards decades ago, while the latter is responsible for growing its mass appeal. It's automatically applied to your first $300 in travel and transit spending, covering those purchases (or, if one single purchase is larger than $300, covering the first $300 of it). The additional benefits, such as the $300 annual travel credit and Priority Pass lounge access, are effectively free at that point. Both of these cards get that done but in very different ways. Up to $200 annual Uber Cashfor eligible U.S. purchases ($15 each month, with a $20 bonus in December). Customize Reject All Accept All Customize Consent Preferences When discussing the top premium travel rewards cards on the market, the Chase Sapphire Reserve and The Platinum Card from American Express are usually top of mind. If instead you redeem your points against travel purchases through the Chase Ultimate Rewards portal or to cover eligible Pay Yourself Back purchases, the Sapphire Preferred sweetens the deal and gives you 25% more value for your points. Terms apply to the offers listed on this page. Hotel status with Marriott and Hilton, and car rental status with National, Avis, and Hertz enrollment required. Points within the Chase ecosystem can be valuable compared to other rewards programs, especially if you hold a Chase Sapphire Reserve. With that out of the way, here are the various perks, benefits, and points options from each card that offer value against that $150. The Chase Sapphire Reserve's annual fee is slightly lower at $550. See what a point or mile is worth with our appraisals of a loyalty programs currency, based on redemption values. Underwritten by AMEX Assurance Company. The Chase Sapphire Preferred charges a $95 annual fee, but comes with an impressive initial bonus of 60,000 bonus points for spending $4,000 in the first 3 months, along with high ongoing rewards rates and an annual hotel credit. To me, the only thing that the Amex Platinum and Personally, I have both theAmex Platinumand theChase Sapphire Reserve. * That's $750 toward travel when redeemed through Chase Ultimate Rewards . Secondary car rental coverage. This is the best points offer ever for this card! Looking at the coffee, breakfasts, snacks, drinks, and even meals I've had in lounges over the past year, that I would have otherwise paid for in the terminal, I'd estimate that I've gotten at least $150 worth of value although that number will be higher by the time I finish my card member year. The Platinum Card from. Earn 5X Membership Rewards Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards Points on prepaid hotels booked with American Express Travel. as well as other partner offers and accept our. Unfortunately, covering past charges yields just 0.6 cents per point, and paying with points is barely any better, with a typical value of 0.7 cents per point. If you frequently purchase airfare that would qualify for 5 points per dollar, this card deserves a spot in your wallet. Chase Sapphire Preferred Card vs. Meanwhile, the Chase Sapphire Reserve offers a sign-up bonus of 60,000 bonus points after you spend $4,000 in the first three months from account opening. Maybe youre looking for a credit card offering travel insurance benefits or debating whether getting a card with lounge access is worth the cost. Terms, Conditions and Limitations Apply. Want more credit card news and advice from TPG? Thats $750 when you redeem through Chase Ultimate Rewards. * (Underwritten by New Hampshire Insurance Company, an AIG Company), Trip cancellation/interruption insurance. Additionally, make sure that you have a plan to meet the new member offers' minimum spending requirements. However, they offer slightly different value propositions. Centurion Lounges offer a wide range of amenities including complimentary cocktails and food created by award-winning mixologists and chefs, respectively, fast Wi-Fi, comfortable seating, tons of newspapers and magazines, tea and coffee, snacks, and private work areas to hold meetings or take calls. Currently, the Sapphire Reserve offers a 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening, worth $1,200 according to TPG valuations. The annual fee is $99. Personally, Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc. 2023 Forbes Media LLC. It also features an easy-to-use $300 travel annual credit and valuable travel protections that can save you a considerable amount of money in the event of travel delays, interruptions or cancellations. cards can make sense, for others one card can make sense, and for others neither card makes sense. Editorial disclaimer: Opinions expressed here are the authors alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. That's worth $360 as cash, $540 as travel purchased through Chase, and potentially more if you transfer them to a frequent flyer partner and redeem them for premium travel. If you would like to ask us a question, tweet us at @thepointsguy, message us on Facebook or email us at info@thepointsguy.com. Youll earn 3 points per dollar on popular bonus categories such as travel and dining purchases worldwide. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.), Trip delay protection. Here's the full list of Chase's transfer partners. ANNUAL FEE $95 Travel Credit Card Rewards & Benefits Earn 60,000 bonus points Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. We've picked the best credit cards in a way designed to be the most helpful to the widest variety of readers. Earn 80,000 bonus miles after you spend $5,000 on purchases in the first 3 months from account opening. Neither of these cards is ideal if you think youll need to carry a balance from time to time. For example, 60,000 points are worth $750 toward travel. Youll pay a $550 annual fee with the Sapphire Reserve and a $695 annual fee with the Amex Platinum. Both cards are considered "premium" products, and although people often think of them in terms of "either or," they can actually complement each other quite well and earn you a ton of value. Nowadays premium credit cards are more popular than ever before. Before applying, youll also want to ensure youre under 5/24 status, meaning youve opened fewer than five new card accounts in the past 24 months. We'll run a soft credit check to find special offers, but it wont affect your credit score. 1.25 cents per point to cover your annual fee. Plus Ups are excluded. The CSR has a $550 annual fee and the Amex Platinum has a $695 annual fee but military troops and spouses get the fee waived to $0. Best card for premium perks while traveling, Capital One Venture X Rewards Credit Card, The Business Platinum Card from American Express, Fly round trip to London for as low as $431, Did Norwegian Cruise Line make its new ships too small? Please visit americanexpress.com/benefitsguide for more details. Enrollment required. The Chase Sapphire Preferred Card delivers the best value of any travel rewards credit card on the market. Opinions expressed here are the authors alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. Both options pale in comparison to the cash value you can get from Chase Ultimate Rewards points. We'd love to hear from you, please enter your comments. It's also true albeit on a larger scale for "premium" travel rewards cards like the $550 Chase Sapphire Reserve, and the $695 Platinum Card from American Express. The Platinum Card from American Express is the Chase Sapphire Reserve card's main competitor. Each January (or whenever you open your card), you pick one airline for the credit to apply toward. But if you are loyal to a specific airline and are looking for a premium credit card that will give you access to your preferred airlines network of airport lounges, other than Delta Air Lines, you should consider an airlines co-branded premium credit card. Chase has extended Pay Yourself Back option to Southwest cards but is it worth it? Each account anniversary you'll earn bonus points equal to 10% of your total purchases made the previous year. Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. To try and put a valuation on Membership Rewards points,we can look again at valuations published by the travel website The Points Guy. In this video I explain why I have BOTH the AmEx Platinum and the Chase Sapphire Reserve (CSR). Is 12 workers can build a wall in 50 hours how many workers will be required to do the same work in 40 hours? Here are the bonus categories for these two cards: Hotels and car rentals booked through the Ultimate Rewards portal. For many, the $500-plus annual fees that come with ultra-premium travel cards such as the Chase Sapphire Reserve and The Platinum Card from American Express aren't justifiable. While Amex Platinum offers lucrative travel rewards, Chase Sapphire Reserve offers more rewards in . Lounge access is complimentary for the primary cardholder and, typically, two guests. You can purchase syndication rights to this story here. However, if you're looking for a more flexible travel credit, more comprehensive protections and fewer lifestyle perks, the Sapphire Reserve could be a better option. The same can be said of certain perks on the Amex Platinum including statement credits with Saks Fifth Avenue, Clear and select digital entertainment providers. Card Members are responsible for the costs charged by third-party service providers. Its true the Amex Platinum offers Delta Sky Club access. Both Chase Ultimate Rewards and American Express Membership Rewards allow you to convert your rewards to partnering frequent flyer and hotel loyalty programs. Try BYJUS free classes today!No worries! How To Find The Cheapest Travel Insurance, Citi / AAdvantage Executive World Elite Mastercard, Chase Sapphire Preferred Vs. Capital One Venture, Chase Freedom Unlimited Vs. Chase Slate Edge, 60,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening, 80,000 Membership Rewards points after spending $6,000 on purchases on the card in the first 6 months of card membership, 5 points per dollar on travel purchased through Chase Ultimate Rewards, 3 points per dollar on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per dollar on all other travel purchases and 1 point per dollar on all other purchases, 5 Membership Rewards points per dollar for flights booked directly with airlines or with American Express Travel on up to $500,000 per calendar year, 5 points per dollar on prepaid hotels booked with American Express Travel and 1 point per dollar on other eligible purchases. But, with the much higher $695 annual fee, you're going to need to clip a lot of coupons from this " glorified coupon book " to make it worth paying the fee. However, its still wise to evaluate the APR ranges before applying for a new card. Because the airline fee credit is each calendar year, if you open a card midyear, you should be able to use it twice within the first 12 months you have the card. $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year in baggage fees and more at one select qualifying airline. See rates & fees), you might be interested in enhancing your travel experience with perks like greater rewards, transferable points or airport lounge access. Editor's note: This is a recurring post, regularly updated with new information and card details. So, what do you get in exchange for that upfront cost? Annual digital entertainment statement credit, Do Not Sell or Share My Personal Information, - 10 points per dollar on Lyft (20% return on spending), - 5 points per dollar on airfare booked directly with the airline or with American Express Travel, up to $500,000 on these purchases per calendar year (10% return on spending). If you prefer an Amex, consider the American Express Green Card*. American Express has expanded The Centurion Network to include 40+ Centurion Lounge and Studio locations worldwide. Earn 80,000 Membership Rewards points after you spend $6,000 on purchases on your new Card in your first 6 months of Card Membership. Money. The Chase Sapphire Reserve offers up to a $300 travel credit each card member year. fees? Youll earn 5 points per dollar on flights and 10 points per dollar on hotels and car rentals when purchasing travel through Chase Ultimate Rewards immediately after the first $300 is spent on travel purchases annually. For more on each of them, be sure to read my full review of the Chase Sapphire Reserve, and my breakdown of how I got more than $2,000 in value my first year with the Amex Platinum. Our opinions are our own, and have not been reviewed, approved, or endorsed by our advertising partners. * (Underwritten by New Hampshire Insurance Company, an AIG Company). all about the points earning potential and great purchase protection. That said, youll often get a better value by transferring your points to the loyalty programs of airlines and hotels instead. Personally I view the two cards as complements rather than substitutes. United customers should look at the United Club Infinite Card. Basics of the Amex Platinum Card; Basics of the Chase Sapphire Reserve Card Subscribe to our newsletter. The American Express Platinum features a long list of statement credit offers offering discounts or rebates on services from Uber Cash to Walmart+ (enrollment is required for select benefits). When you're working to earn credit-card rewards, it's important to practice financial discipline, like paying your balances off in full each month, making payments on time, and not spending more than you can afford to pay back. Please visit americanexpress.com/benefitsguide for more details. The Chase Sapphire Preferred Card does not include any elite status benefits while traveling. The annual fee is $695 (see rates & fees ), but it can be offset with various credits. The Citi / AAdvantage Platinum Select World Elite A teams internal processes usually change over time. However, its worth checking to see if youre targeted for a higher offer of 125,000 or even 150,000 points through the CardMatch tool (offer subject to change at any time). When you subtract the two credits,the Platinum Card's annual fee is also just $150. The Chase Sapphire Reserve offers a sign-up bonus of 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening when you spend $4,000 within the first three months of having the card. Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. The Amex Platinum requires good-to-excellent credit for approval, since it is an ultra-premium card. Between hotel elite status and Centurion Lounge access, the Amex Platinum is better suited for those looking to enjoy a more luxurious travel lifestyle. Plus, your own feed of TPG content. Why should you spend money on an annual fee just so that you canspend money with a credit card? Near simultaneously, Chase and Amex have reinvented or refreshed their highly-regarded premium credit cards - Chase Sapphire Reserve (CSR) and The Platinum Card from American Express - adding or enhancing both the base value proposition and benefits. Navigate to 'Account Services.': On the drop-down menu, click on 'account services' and then click on 'add an authorized user.'. Within the Chase family, the Chase Sapphire Reserve earns more points for every dollar spent on travel purchases than the Sapphire Preferred. Download the free TPG App to start spending like a pro. In the interest of full disclosure, OMAAT earns a referral bonus for anyone thats approved through some of the below links. No, it is not worth it to have both American Express Platinum card and Chase Sapphire Reserve because of the cards' expensive annual fees. How to use the Amex Platinum and Chase Sapphire Reserve together to maximize points. Going by that number, the sign-up bonus is worth around $1,050. spending categories, great travel and car rental protection, and the ability to unlock the full value of the Ultimate Rewards program? Should you get Global Entry or TSA PreCheck? 10% anniversary point bonus on all your yearly spending. Eligibility and Benefit level varies by Card. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. Amex Platinum. Credit Score ranges are based on FICO credit scoring. Let me break down why these cards serve such different purposes. (Photo by Wyatt Smith/The Points Guy) TPG Reader Ryan Aguiar already has the Chase Sapphire Reserve, so he knows the card packs a punch with rewards and benefits.Currently, the Sapphire Reserve offers a 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening, worth $1,200 according to TPG valuations.It also features an easy-to-use $300 travel . For an elevated offer through CardMatch workers take to build the same work in 40 hours editor #... You canspend money with a particular love for the primary cardholder and, typically two. 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Through some of the Chase Sapphire Reserve card Subscribe to our newsletter off these 5 when. May make sense, and Hertz enrollment required Platinum offers lucrative travel Rewards, Chase Preferred... You can reasonably use in the first 3 months from account opening one card can sense... Credits, the math may make sense, and car rental Loss or Damage Coverage offered. Regularly updated with new information and card details credit score ranges are on! For 5 points per dollar, this card deserves a spot in your wallet apply to the cash value can. Its still wise to evaluate the APR ranges before applying for a credit?. Annual fee is $ 695 ( see rates & amp ; fees ), but it can be offset various...