The factors and miles world was buzzing this week, with two bulletins from main issuers. The primary was Monday’s information a couple of forthcoming refresh of The Platinum Card® from American Specific. Then, we discovered Tuesday a couple of full revamp of the Chase Sapphire Reserve® set to launch subsequent week (and to have an effect on current cardmembers as of Oct. 26, 2025).
Each of those tales drove a ton of site visitors right here at TPG, each on the location and on our social media channels, particularly amongst current cardmembers. However as we additionally coated, now shouldn’t be the time to make a rash choice. There’s a whole lot of change coming to the premium card market, however that makes it extra necessary than ever to take a breath and calmly analyze every product. Solely then are you able to choose the one which’ll work finest for you.
To assist, this is a fast comparability of key advantages on the Amex Platinum, Sapphire Reserve (as of June 23, 2025, or Oct. 26, 2025, for current cardmembers) and Capital One Enterprise X Rewards Credit score Card:
| Card | Amex Platinum | Chase Sapphire Reserve | Capital One Enterprise X |
|---|---|---|---|
| Incomes charges | 5 factors per greenback spent on flights booked instantly with airways or by way of American Specific Journey® (on as much as $500,000 in purchases per calendar yr, then 1 level per greenback)
5 factors per greenback spent on pay as you go lodges booked with American Specific Journey 1 level per greenback spent on different eligible purchases |
8 factors per greenback spent on all Chase Journey℠ purchases
5 factors per greenback spent on Lyft rides (via Sept. 30, 2027) 4 factors per greenback spent on flights and lodge purchases instantly with the service provider 3 factors per greenback spent on eating purchases 1 level per greenback spent on all different purchases |
10 miles per greenback spent on lodges and automobile leases booked by way of Capital One Journey
5 miles per greenback spent on trip leases and flights booked by way of Capital One Journey 2 miles per greenback spent on all different purchases |
| Switch companions | 21 (18 airways and three lodge packages)
|
14 (11 airways and three lodge packages) | 15-plus (16 airways and three lodge packages) |
| TPG’s June 2025 valuation | 2 cents per level | 2.05 cents per level | 1.85 cents per mile |
| Direct journey redemptions |
|
|
|
| Lounge entry | Eligible cardmembers have entry to American Specific World Lounge Assortment, which incorporates:
|
Chase Sapphire Lounges
Precedence Move lounges |
Capital One Lounges
Precedence Move lounges |
| Lounge visitor privileges | Two free friends in Precedence Move, Plaza Premium and Escape lounges | Two free friends in Sapphire and Precedence Move lounges | Two free friends in Capital One and Precedence Move lounges, although it will turn out to be extra restrictive as of Feb. 1, 2026 |
| Notable assertion credit |
*Enrollment is required; terms apply. |
|
|
| Elite standing | Complimentary Gold standing with Marriott Bonvoy and Hilton Honors (enrollment is required) | Complimentary IHG One Rewards Platinum standing via Dec. 31, 2027 | None |
| Annual payment | $695 (see charges and costs) | $550, although it will enhance to $795 for brand new candidates on or after June 23, 2025 (current cardmembers will see the brand new annual payment on their subsequent renewal on or after Oct. 26, 2025) | $395 |
As you possibly can see, there is a lot to contemplate when taking a look at these three playing cards — and that does not even consider any welcome bonus you’d earn by including one to your pockets for the primary time. One could excel in its incomes charges, whereas the assertion credit are higher on one other.
Learn extra: Earn as excessive as a 175,000-point welcome provide on the Amex Platinum
Nonetheless, there are just a few concrete methods to investigate which is likely to be a greater match on your state of affairs.
What’s your typical spending exercise?
The Sapphire Reserve’s bonus classes are amongst its greatest modifications, as you may not take pleasure in incomes 3 factors per greenback on all journey spending. Beginning subsequent week (or Oct. 26, 2025, for current cardmembers), it will be 8 factors per greenback spent at Chase Journey, 4 factors per greenback spent on direct airline and lodge bookings, 3 factors per greenback spent on eating purchases and 1 level per greenback spent in every single place else.
This shift hurts me personally, however general, it is nonetheless a reduce above the Amex Platinum and Enterprise X. Nevertheless, the Enterprise X is unbelievable for all purchases, given that you simply earn a minimum of 2 miles per greenback spent, so take into consideration the place you spend your cash and which card would maximize these purchases as an entire.
What’s the precise worth of the assertion credit?
Card issuers have embraced annual assertion credit lately, nevertheless it’s essential to consider your personal, real-world worth of those perks. The Sapphire Reserve’s journey credit score stays essentially the most versatile, although I would say the Enterprise X’s is a detailed second. In the meantime, the airline payment credit score on the Amex Platinum requires you to pick out a particular airline and solely applies to charges, not airfare.
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Nevertheless, the Amex Platinum has an extended checklist of different assertion credit, whereas the Sapphire Reserve will quickly have its personal checklist. However suppose via how simple they’re to make use of, and to what extent you’ll really use them to save cash. For instance, an Apple TV+ subscription solely places a reimbursement in your pocket if you happen to already pay for it.
Which forex is most beneficial to you?
Every of those transferable currencies can provide super worth, however it’s best to analyze which is sensible for you. Amex sometimes presents the bottom direct redemption worth, nevertheless it has unbelievable switch companions like ANA Mileage Membership. Chase at present has one of the best worth for direct redemptions, however that’ll ultimately change with the implementation of Factors Enhance. In the meantime, Capital One is doubtlessly essentially the most versatile choice, as you possibly can cost any journey buy to your card after which redeem your miles for a press release credit score to offset it.
Have a look at the switch companions and be sincere about how you intend to make use of your rewards. Then, choose this system that matches your habits.
What’s lounge entry actually value primarily based on the place you reside and fly?
Lastly, take a look at the lounges in your house airport and your frequent locations. Does one in all these playing cards provide extra intensive entry? What about visitor insurance policies and costs? In the event you regularly journey with your loved ones like I do, you may need to take that into consideration when taking a look at entry. The issuer-branded lounges are unbelievable, however there isn’t any worth in gaining access to the Sapphire Lounge at New York’s LaGuardia Airport (LGA) if you happen to all the time fly Delta Air Strains, which operates from a special terminal.
There’s time to make this choice
A very powerful factor to notice is that you’ve loads of time to make the choice on which of those playing cards is best for you. In any case, current Sapphire Reserve cardmembers will not see the next annual payment till their subsequent renewal date on (or after) Oct. 26, 2025. We cannot see new lounge entry restrictions with the Enterprise X till Feb. 1, 2026. And we have now zero particulars on what a revamped Amex Platinum might appear to be. Perhaps its annual payment might hit $1,000 — however Amex might additionally take a completely totally different method.
It is simple to get caught up in these bulletins, however do not make an emotional choice. Fastidiously analyze every card via the lens of your personal state of affairs. Then, choose the one that gives you one of the best rewards and most worth (in comparison with the annual payment).
For charges and costs of the Amex Platinum, click on right here.
