Two flagship $795–$895 cards, refreshed for 2025. We modeled both across six spender profiles to find which one wins — and for whom.
As a single card, the Chase Sapphire Reserve won every spender profile we modeled. It's cheaper ($795 vs. $895), its ~$1,280 of annual credits more than cover its fee, and 3× dining beats the Platinum's 1× everyday earning. The Amex Platinum only closes the gap for heavy travelers who max its 5× flights and hotels and lean on Centurion lounge access. If you fly a lot and live in lounges, the Platinum is defensible — otherwise the Reserve wins.
| Sapphire Reserve | Amex Platinum | |
|---|---|---|
| Annual fee | $795 | $895 |
| Usable annual credits (modeled) | ~$1,280 | ~$875 |
| Credits cover the fee? | Yes (~62% usage breaks even) | No — credits trail the fee |
| Everyday / dining earning | 3× dining | 1× most spend |
| Travel earning | Strong on travel | 5× flights & hotels (Amex Travel) |
| Lounges | Sapphire Lounges + Priority Pass | Centurion + Priority Pass + Delta Sky Club |
| Best for | Almost everyone, as one card | Heavy travelers who max travel spend |
Figures are PerkMath's conservative model: points valued at 1.8¢, credits at full value, default easy-to-use credits only. Your real numbers depend on which credits you'll actually use.
Two things decide it. First, the credits. The CSR's ~$1,280 of annual credits already exceed its $795 fee, so you're ahead before earning a single point — you only need to use about 62% of them to break even. The Platinum's ~$875 of credits sit just under its $895 fee, so it starts every year slightly behind and has to earn its way back.
Second, everyday earning. The Reserve's 3× dining compounds for anyone who eats out, while the Platinum earns 1× on most non-travel spend. Unless a large share of your spend is flights and hotels booked through Amex Travel, the CSR pulls ahead on points too.
The Platinum is built for the frequent flyer. Its 5× on flights and prepaid hotels through Amex Travel can overtake the CSR once travel becomes a big chunk of your spend, and its lounge network — Centurion Lounges plus Delta Sky Club access on Delta flights — is the best in the category. If you'll genuinely use the Resy, Uber, airline and hotel credits and you spend heavily on travel, the Platinum earns its fee. For lighter or dining-heavy spenders, it doesn't.
Usually not for the recurring math — holding both costs $1,690 a year in fees, and for average spenders the second fee isn't covered. But Year 1 is different: roughly $3,240 in combined sign-up bonuses can make getting both worthwhile up front, then dropping one later. See the both-cards breakdown →
These are modeled profiles — your dining, travel, and which credits you'd actually use change the answer. Enter your numbers to see the Year 1 and Year 2+ ROI for the Reserve, the Platinum, both, or neither:
Figures are PerkMath's conservative model (points at 1.8¢, credits at full value), not an offer. Free tool — no affiliate links.