Who Did It Better? Amex vs. Chase in the Premium Card Refresh Wars
The long-awaited refresh of Chase’s Sapphire Reserve Card finally got a response — enter: the updated Amex Platinum. Now that the dust has settled and both cards have revealed their hands, is there a clear winner? That depends less on the perks and more on brand affinity, with both issuers doubling down on their core strengths and throwing in some shiny new benefits to justify higher annual fees.
- Amex’s $895/year Platinum might boast about offering more value, but that requires keeping track of more complicated credits — biannual credits of $300 to Amex Hotel, $100 per quarter toward Resy, and monthly credits up to $25 for digital entertainment are just the tip of the iceberg.
- By contrast, the $795/yr CSR feels more approachable with its “$2.7K in annual value” — with credits more concentrated around travel ($1.2K+) and specific brands like Apple, StubHub, DoorDash, and others.
Who did it better? American Express might have the edge in “value,” but that’s in the eye of the beholder — or the spender. With 13 different credits now on the card, earning back the steeper annual fee might feel like work. Chase’s ‘less valuable’ CSR might be easier to make a profit on, with better earnings rates and perks tied to brands consumers actually use.
Maybe the joke’s on all of us, though: Unless you enjoy the mental gymnastics for ‘coupon book’ premium cards, the Capital One Venture X or Robinhood Gold Card might be a better fit.