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Amex Platinum vs Chase Sapphire Reserve (Epic Duel) *Updated Late 2020* - YouTube
Channel: Joey Kim
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american express platinum versus the
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chase sapphire reserve both premium
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travel cards
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both have 550 annual fees but which one
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is more valuable for you in today's
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video we're going to be breaking down
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the benefits
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and talking about how you can earn more
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value than the annual fee on these cards
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welcome or welcome back i'm joey and
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this channel is all about maximizing
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your money
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whether that's through credit cards
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money management skills or investing to
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ultimately help you reach your financial
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goals
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i am a heavy user of both chase and amex
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so
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today in this review i'm definitely
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going to be including my personal
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experiences
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with both sides first we're going to
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compare the credits that come with both
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cards secondly
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we're going to talk about the point
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value comparing the amex point system
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with the chase ultimate rewards and then
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we'll talk about
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how the amx plat is a charge card and
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the chase sapphire reserve is actually a
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credit card
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meaning the billing cycles will be
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slightly different and then we'll wrap
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up this video talking about my personal
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experiences with the protection and
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customer service
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these cards have to offer starting off
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they say cash is king right
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shout out to uncle dave but for real if
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i'm paying 550
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in annual fees i instantly feel better
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when i know a portion of my money will
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be given back
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through credits for cash and this is
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where the chase sapphire really shines
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to take
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first place the chase sapphire reserve
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is going to come with a 300
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annual credit automatically applied to
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travel spending to name a few
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chase defines traveling as flights taxis
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tolls
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parking or even discount travel sites so
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pretty flexible and for an
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average spender i don't see any problem
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in redeeming the 300
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annual credit you'll also earn 120 in
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statement credits on doordash
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purchases through 2021 so that's gonna
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be 60
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for the year of 2020 and 60 in the year
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of 2021. keep in mind with these cash
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credits
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flexibility is going to be where 99 of
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your value comes from
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easily chase could have given a 500
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travel credit but if they limited that
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benefit to airfare through a specific
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airline
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it wouldn't be as valuable amex
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which reminds me of the reason why the
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amx plot comes in second or last place
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even with five hundred dollars total
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cash credits that's going to be 200
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through airline incidentals 200 for uber
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and 100 for saks fifth avenue amex just
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gets crushed in terms of flexibility
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because with the 200
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airline incidental credit you're only
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going to be able to redeem these credits
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through the same airline in a given year
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and also you can't even use it on
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airfare it only covers
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charges like seat change fees baggage
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fees and onboard food and beverages
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next with the 200 uber credit you're
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going to be getting 15 a month
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and 20 in the month of december you can
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also use this with ubereats which is
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just like seamless for grubhub and
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personally
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i have never found this too difficult to
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redeem the 200
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uber credit on an annual basis and the
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last cash credit we're gonna be talking
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about is a hundred dollar saks fifth
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avenue credit which to make matters
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worse
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the hundred dollar credit is broken down
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into fifty dollar credits every six
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months and for those who don't know what
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saks fifth avenue
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is it's basically just a more expensive
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nordstrom that nobody knows about but
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usually i just try to buy socks for
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cologne so i'm not over that 50
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limit or if i am i'm just barely over it
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those are all the cash credit benefits
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from amex
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again terrible execution let's talk
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about the point values now
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starting off with the amex you're going
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to be earning 60 000 points after you
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spend 5 000 in the first three months
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you're also going to be earning five
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points for flights where hotels purchase
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on the amx travel site
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and two points for any other travel
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purchased through the amx travel site
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which is basically just like a
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hotels.com and the prices are actually
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pretty good
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and competitive with other travel sites
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and now moving on to the chase sapphire
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reserve you're going to earn 50
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000 points after you spend 4 000 in the
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first three months
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earning 10 points per dollar spent on
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lyft through march 2022. three points
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per dollar spent on travel and dining
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so clearly amex wins this category right
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because chase didn't have a 5x category
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to really answer this we're gonna have
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to look at how the points
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are redeemed with amex you can redeem it
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through gift cards
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amazon charges account credits amex
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travel sites or transfer
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partners the best way to maximize points
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is through transfer partners and the
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worst way to redeem
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is through amazon charges or account
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credits
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so let's cover the value of amx points
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when redeeming it through
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transfer partners if you look at the
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picture you can see we have 17 airlines
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and three hotels we can transfer the
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points to
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and when transferred to airline partners
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you're going to be able to average
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around 1.5 cents if you strategize
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correctly
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so what does 1.5 cents per point even
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mean i mean 60 000 amx points will be
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worth around 900
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which is really really good taking a
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look at chase now
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similar to amex you can redeem the
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points the same way and again
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the worst way is going to be using your
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points on gift cards or account credits
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but what makes a chase different is with
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the chase sapphire reserve
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and just the reserve when redeeming
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points to the chase travel site you're
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going to get a 50
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boost on your points making your 50 000
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points worth 75
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000 or 750 dollars and just like amex
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chase has travel partners as well but
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instead of 17 airlines you're going to
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be looking at 13 airlines
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and you can expect to earn around 1.5 to
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2.0 cents per
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point so similar value as amex and i
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hate to say this but the reserve and the
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platinum seem to be tied in this
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category
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however i will say that amx platinum is
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clearly better for someone who has
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multiple cards
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and doesn't really need to prioritize
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stacking on points on everyday purchases
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like dining
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and strictly travel using the amex
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travel website
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but if you're an average joe like me who
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travels on holidays and uses a large
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portion of your expense
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on dining racking up points on the chase
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sapphire reserve
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is going to be so much easier and now
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we're going to talk about how the chase
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sapphire reserve
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is an actual credit card while the amex
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platinum is a charge card
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the key difference between credit cards
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and charge cards
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lies in your ability to carry a balance
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that is rollover debt from one month to
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the next charge cards look like credit
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cards and function the same way
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to make purchases they have many of the
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same features from sign up bonuses
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to rewards to travel perks but they're
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designed to be paid off
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immediately also with the charge card
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you have no preset spending limit
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but that doesn't mean you can go and buy
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1 million beers
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it just means the limit changes every
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month you
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will still have limits based on your use
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of the card payment history credit
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record and
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other factors where with the credit card
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your limit is preset so if you don't
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want to go into credit card debt
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mx might be your answer and now of
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course
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the moment y'all been waiting for the
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protections and benefits
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the platinum card gives access to
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american express's
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centurion lounges as well as delta sky
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club and airspace lounges
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you also get complimentary membership in
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the priority pass select group
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which grants access to more than one 000
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airport lounges
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however with the sapphire reserve it
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only offers priority pass membership so
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the american express card
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single-handedly wins in this category
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especially if you're a delta airlines
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flyer
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you're going to be able to really
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maximize the lounge access and can
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we take a moment right now to talk about
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the centurion lounge
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it is the best place on earth to be
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what oh what are you talking about man
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that might have been a little bit of an
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exaggeration
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but on a more serious note they do have
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free drinks free alcoholic drinks free
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food and hot showers which is a game
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changer but honestly
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i'm more a fan of the alcoholic drinks
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nothing like flying with a little buzz
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with both of these cards you're going to
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be
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offered great protection as well like
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purchase protection
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return protection and rental car
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protection so with the purchase
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protection
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you're protected up to 90 days on new
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purchases for 120 days against damage or
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theft
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up to 10 000 per claim and 50 000
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per year and with rental car protection
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you simply need to decline the rental
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company's collision insurance
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and charge the entire the entire rental
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cost to your cart
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coverage is primary and provides
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reimbursement
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up to 75 dollars for damages to the
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rental car
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and finally with return protection you
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can be reimbursed for eligible items
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that the store won't take back within 90
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days of purchase
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up to 500 per item or 1 000 per year
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so really really great benefits and from
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personal experience
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the dispute process with american
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express is so easy
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and most of the times they will give you
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the benefit of the doubt really showing
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how they prioritize customer service
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and before wrapping up this video i do
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want to let y'all know
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american express platinum despite being
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a premium travel cart
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is much easier to be approved for than
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the chase sapphire reserve
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you need really good credit to be
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approved for the sapphire reserve
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whereas with the amex plat
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most people with good credit are
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approved also chase has this like weird
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524 rule meaning if you apply for more
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than five cards in the past 24 months
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chase will not approve you even if you
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have great credit score
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so shame on you chase for not getting
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rid of that yet so
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in summary i think the amx platinum is a
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better premium travel card
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if you already have other cards
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maximizing points or cash back on
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categories such as dining and groceries
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and you really want a card that will
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earn you status upgrades and make your
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travel experience that much better
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but if you really don't care about that
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and want to maximize points and value
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the sapphire reserve might be the better
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card
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for you if you did make it till the end
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let me know what card you plan on
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getting and thanks for watching till the
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end
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and make sure you smash that like button
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if you didn't already because that's the
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only way
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the youtube algorithm is finally gonna
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discover me
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or maybe not i'll forever be lost
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anyways thank you guys so much for
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watching and you know how it goes
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[Music]
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peace
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