Points and Myers World buzzed this week, with two announcements from major issuers. The first is Monday’s news about the upcoming refresh American Express Platinum Card®. We then learned about the complete remodel of Chase SapphireReserve® on Tuesday, which will be launched next week (and affect existing card members on October 26, 2025).
These two stories have caused a lot of traffic on the TPG on the website and on our social media channels, especially among existing card members. But, as we have covered, it is not the time to make a rash decision. There are a lot of changes in the premium card market, but this is more important than ever to breathe and analyze each product calmly. Only in this way can you choose the one that suits you best.
To help, here is a quick comparison of the key benefits of Amex Platinum, Sapphire Reserve (existing card members as of June 23, 2025 or October 26, 2025) and Capital One Venture X Rewards Credits Credit Card:
| card | Amex Platinum | Chatong Sapphire Reserve | Capital One Venture X |
|---|---|---|---|
| Income rate | Spend 5 points per dollar on flights booked directly with the airline or through American ExpressTravel® (up to $500,000 per year for purchases, followed by 1 point per dollar)
Spend 5 points per dollar on prepaid hotel booking for US Express Travel Each dollar spent on other qualified purchases |
Spend 8 points per dollar on all Chase trips
Spend 5 points per dollar on Lyft rides (as of September 30, 2027) Buy flights and hotels directly with merchants 4:4:40 Spend 3 points per dollar on catering purchases Every dollar spent on all other purchases |
10 miles per dollar for hotel and car rentals booked through Capital One Travel
5 miles per dollar for vacation rentals and flights booked through Capital One Travel Spend 2 miles per dollar |
| Transfer Partners | 21 (18 airlines and three hotel plans) | 14 (11 airlines and 3 hotel plans) | More than 15 (16 airlines and 3 hotel plans) |
| TPG’s June 2025 valuation | 2 cents per point | 2.05 cents per point | 1.85 cents per mile |
| Direct travel redemption |
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| Lounge entry | Qualified cardholders can access the Express Global Lounge Collection in the United States, which includes:
|
Chase Sapphire Lounge
Priority through the lounge |
A lounge in the capital
Priority through the lounge |
| Lounge guest privileges | Two free guests of the Priority Pass, Plaza Premium and Escape Lounges | Two free guests in the sapphire and Priority Pass lounge | Two guests at the free Capital One and Priority Pass lounge, although this will become more restrictive as of February 1, 2026 |
| Notable statement credits |
*Registration is required; TERMS is applicable. |
|
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| Elite identity | Free Golden Status of Marriott Bonvoy and Hilton Honors (Enrollment Required) | Free IHG Reward Platinum Status Until December 31, 2027 | Nothing |
| Annual fee | $695 (see rates and fees) | $550, although new applicants or after June 23, 2025 will increase to $795 (existing card holders will see new annual fees for the next renewal on October 26, 2025) | $395 |
As you can see, there is a a lot of Consider when viewing these three cards – this won’t even consider any welcome bonuses you get from adding it to your wallet for the first time. A person may perform well in his/her income rate and declare credit is better.
Read more: Receive 175,000 welcome discounts on Amex Platinum
However, there are several specific ways to analyze, which may be more suitable for your situation.
What are your typical spending activities?
The bonus category of Sapphire Reserve is one of its biggest changes as you will no longer enjoy earning 3 points per dollar for all your travel expenses. Starting next week (or October 26, 2025, for existing card members), spend 8 points per dollar on Chase Travel, $4 per dollar on direct airline and hotel reservations, 3 per dollar on catering purchases, and 1 per dollar on dollar.
This shift hurts me personally, but overall it still outperforms the Amex Platinum and VentureX. However, the Venture X is great for all purchases because you make at least 2 miles per dollar, so consider where you spend money and which card will maximize those purchases.
What is the actual value of statement credit?
In recent years, issuers have accepted annual statement credit, but it is crucial to consider the real value of these privileges of themselves. The Sapphire Reserve’s travel credit is still the most flexible, although I’m going to say the second time with the Venture X. Meanwhile, Amex Platinum’s airline fee credit requires you to choose a specific airline, which applies only to the fees, not the ticket.
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However, Amex Platinum has many other statement credit lists, and Sapphire Reserve will soon have its own list. However, consider how easy they are to be used and how much you actually use them to save money. For example, Apple TV+ subscriptions can only put money back in your pocket if you have paid.
Which currency is the most valuable to you?
Each of these transferable currencies can provide great value, but you should analyze this makes sense for you. Amex usually offers the lowest direct redemption value, but it has excellent transfer partners like ANA Mileage Club. Chase currently has the best value for direct redemption, but this will eventually change as points are implemented. Meanwhile, Capital One is probably the most flexible option as you can charge your card for any travel acquisition and then redeem your mileage to offset that statement.
Check out the transfer partner and be honest with how you intend to use the rewards. Then, select the program that suits your habits.
Depending on where you live and fly, is the lounge access really worth it?
Finally, take a look at the lounge at your airport and your common destinations. Does one of these cards offer wider access? What about the guest policy and fees? If you travel with your family like me often, you need to think about it when viewing the visit. The issuer-branded lounge is great, but if you always run from Delta Air Lines from other terminals, there is no value to have access to Sapphire Lounge at Laguardia Airport (LGA).
Have time to make this decision
The most important thing to note is that you have enough time to decide what these cards are right for you. After all, existing sapphire reserve cards won’t see higher annual fees until the next renewal date (or after) October 26, 2025. We won’t see new lounge access restrictions until February 1, 2026. Until February 1, 2026. We have zero details on the revamped amex Platinum. Maybe its annual fee could reach $1,000, but Amex could also take a completely different approach.
It’s easy to get stuck in these announcements, but don’t make emotional decisions. Carefully analyze each card through lenses of your own situation. Then, choose one that offers you the best and most valuable rewards (compared to the annual fee).
For Amex Platinum rates and fees, click here.
