Who Does Statement Credits Better, Amex Platinum or Chase Sapphire Reserve?

The hottest (and most expensive) rewards cards, the Platinum Card^® from American Express and the Chase Sapphire Reserve^®, went under the knife this year.

Each received a thorough refresh, and neither issuer decided to discontinue the “coupon book” model of delivering statement credits, which has become standard operating procedure in recent years.

With both cards offering more statement credits than ever, it’s time to compare them and determine whether their distribution makes them more of a burden than they’re worth.

Amex Platinum Card vs. Chase Sapphire Reserve Card

You can read our coverage of the refreshed Amex Platinum card and updated Chase Sapphire Reserve card for the full details. But today, we’re zooming in on the statement credits in to see which issuer handles them better and which premium card deserves a spot in your wallet.

Amex Platinum Card Statement Credits

While we saw a higher $895 annual fee (rates & fees) on the Amex Platinum card, we also saw a much broader scope of statement credits.

+ NEW BENEFITS

Terms Apply / Rates & Fees

Platinum Card^® from American Express

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

The Amex Platinum reigns supreme for luxury travel, offering the best airport lounge access plus generous statement credits, and complimentary elite status.

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Know if you're approved with no credit score impact

If you're approved and accept this Card, your credit score may be impacted.

Platinum Card^® from American Express

The Amex Platinum reigns supreme for luxury travel, offering the best airport lounge access plus generous statement credits, and complimentary elite status.

Welcome Offer

You may be eligible for as high as 175,000 Membership Rewards^® Points after spending $8,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.

As High As 175,000 Points. Find Out Your Offer.

UP's Offer Valuation*:

Up to $3,850

Annual Fee

$895

APR

See Pay Over Time APR

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.

Good to Excellent

Why We Like This Card

When it comes to cards that offer top-notch benefits, you’d be hard-pressed to find a better card out there than the Platinum Card^® from American Express.

Make no mistake — the Amex Platinum card is a premium card with a premium price tag. With amazing benefits like best-in-class airport lounge access, hotel elite status, and tremendous value in annual statement credits, it can easily prove to be one of the most lucrative cards in your wallet year after year.

Pros & Cons

Pros

• The best airport lounge access out of any card (by far) — enjoy access to over 1,550 worldwide lounges, including the luxurious Amex Centurion Lounges, Priority Pass lounges (enrollment required), Plaza Premium Lounges, and many more!
• 5x points per dollar spent on flights purchased directly with the airline or with AmexTravel.com (up to $500,000 per year)
• 5x points per dollar spent on prepaid hotels booked with AmexTravel.com

Cons

• $895 annual fee (rates and fees)
• Airline credit does not cover airfare (only incidentals like checked bags)

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Card Highlights

• You may be eligible for as high as 175,000 Membership Rewards^® points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
• Get more for your travels with 5X Membership Rewards^® points on all flights and prepaid hotel bookings through American Express Travel^®, including Fine Hotels + Resorts^® and The Hotel Collection bookings. You earn 5X points on flights purchased directly from airlines or through American Express Travel^® on up to $500,000 on these purchases per calendar year.
• More Value! With over 1,550 airport lounges - more than any other credit card company on the market* - enjoy the benefits of the Global Lounge Collection^®, over $850 of annual value, with access to Centurion Lounges, 10 complimentary Delta Sky Club^® visits when flying on an eligible Delta flight (subject to visit limitations), Priority Pass Select membership (enrollment required), and other select partner lounges. * As of 07/2025.
• More Value! $200 Uber Cash + $120 Uber One Credit: With the Platinum Card^® you can receive $15 in Uber Cash each month plus a bonus $20 in December when you add your Platinum Card^® to your Uber account to use on rides and orders in the U.S when you select an Amex Card for your transaction. Plus, when you use the Platinum Card^® to pay for an auto-renewing Uber One membership, you can get up to $120 in statement credits each calendar year. Terms apply.
• More Value! $300 Digital Entertainment Credit: Get up to $25 in statement credits each month after you pay for eligible purchases with the Platinum Card^® at participating partners. Enrollment required.
• More Value! $600 Hotel Credit: Get up to $300 in statement credits semi-annually on prepaid Fine Hotels + Resorts^® or The Hotel Collection* bookings through American Express Travel^® using the Platinum Card^®. *The Hotel Collection requires a minimum two-night stay.
• New! $400 Resy Credit + Platinum Nights by Resy: When you use the Platinum Card^® to pay at U.S. Resy restaurants and to make other eligible purchases through Resy, you can get up to $100 in statement credits each quarter with the $400 Resy Credit benefit. Plus, with Platinum Nights by Resy, you can get special access to reservations on select nights at participating in demand Resy restaurants with the Platinum Card^®. Simply add your eligible Card to your Resy profile to book and discover Platinum Nights reservations near you, enrollment required.
• More Value! $209 CLEAR^® Plus Credit: CLEAR^® Plus helps get you to your gate faster by using unique facial attributes to verify you are you at 50+ airports nationwide. You can cover the cost of a CLEAR Plus Membership* with up to $209 in statement credits per calendar year after you pay for CLEAR Plus with the Platinum Card^®. *Excluding any applicable taxes and fees. Subject to auto-renewal.
• $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees, such as checked bags and in-flight refreshments, are charged by the airline to the Platinum Card^® Account*. American Express relies on airlines to submit the correct information on airline transactions to identify incidental fee purchases. If you do not see a credit for a qualifying incidental purchase on your eligible Card after 8 weeks, simply call the number on the back of your Card. Qualifying airlines are subject to change. See terms & conditions for more details.
• Start your vacation sooner, and keep it going longer. When you book Fine Hotels + Resorts^® through American Express Travel^®, enjoy noon check-in upon arrival, when available, and guaranteed 4PM check-out.
• New! $300 lululemon Credit: Enjoy up to $75 in statement credits each quarter when you use the Platinum Card^® for eligible purchases at U.S. lululemon retail stores (excluding outlets) and lululemon.com. That’s up to $300 in statement credits each calendar year. Enrollment required.
• $155 Walmart+ Credit: Receive a statement credit* for one monthly Walmart+ membership (subject to auto-renewal) after you pay for Walmart+ each month with the Platinum Card^®. *Up to $12.95 plus applicable local sales tax. Plus Ups not eligible.
• $100 Saks Credit: Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue or saks.com on the Platinum Card^®. That’s up to $50 in statement credits from January through June and up to $50 in statement credits from July through December. No minimum purchase required. Enrollment required.
• Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
• $895 annual fee.
• Terms Apply.

Financial Snapshot

• APR: See Pay Over Time APR
• Foreign Transaction Fees: None

Rewards Center

American Express Membership Rewards

Here’s a brief look at the new and existing annual statement credits you’ll receive with the card. Many benefits require enrollment:

• New: Up to $400 Resy credit (up to $100 per quarter) at U.S. Resy restaurants
• New: Up to $300 lululemon credit (up to $75 in statement credits per quarter) at U.S. lululemon retail stores (excluding outlets) or lululemon.com
• New: Up to $120 in statement credits for an auto-renewing Uber One credit membership
• New: Up to $200 Oura Ring credit (applies only to the purchase of the ring) at Ouraring.com
• Enhanced: Up to $600 hotel credit (up to $300 in statement credits from January to June and up to $300 in statement credits from July to December) on prepaid Fine Hotels + Resorts or The Hotel Collection bookings, which require a minimum 2-night stay, through AmexTravel.com
• Enhanced: Up to $300 digital entertainment credit (up to $25 per month in statement credits to subscribe to Disney+, Disney+ bundle, ESPN+, Hulu, The New York Times, Paramount+, Peacock, The Wall Street Journal, YouTube Premium, and YouTube TV)
• Up to $200 in Uber Cash credit ($15 per month, plus an additional $20 in December for on rides and orders in the U.S. when you select an Amex card for your transaction)
• Up to $209 CLEAR Plus credit (subject to auto-renewal)
• Up to $200 airline incidental fee credit (good toward one selected airline each year for expenses such as baggage and seat selection fees)
• Up to $120 statement credit every 4 years for a Global Entry application fee or up to $85 statement credit every 4.5 years for TSA PreCheck
• Up to $155 Walmart+ credit (monthly statement credit of up to $12.95, plus applicable taxes, and Plus Ups are not eligible)
• Up to $100 Saks Fifth Avenue credit (up to $50 from January to June and up to $50 from July to December)
• Up to $300 Equinox credit

Hot Tip: Apply and find out if you’re eligible for a welcome bonus offer of as high as 175,000 points with the Amex Platinum. Welcome offers may vary and you may not be eligible for an offer.

Refreshed Chase Sapphire Reserve Card Statement Credits

Earlier this year, the venerable Chase Sapphire Reserve card received a revamp of its own. It, too, saw an annual fee increase to $795, but it also added numerous perks that theoretically should allow cardholders to realize plenty of value from using the card.

NEW OFFER

Terms Apply / Rates & Fees

Chase Sapphire Reserve^®

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

A top player in the high-end premium travel credit card space that earns points on travel and dining while offering top luxury perks.

Apply Now(at Chase's secure site)

Chase Sapphire Reserve^®

A top player in the high-end premium travel credit card space that earns points on travel and dining while offering top luxury perks.

Welcome Offer

Earn 125,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.

125,000 points

UP's Offer Valuation*:

$2,500

Annual Fee

$795

APR

20.24% - 28.74% Variable

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.

Excellent

Why We Like This Card

If you’re looking for an all-around excellent travel rewards card, the Chase Sapphire Reserve^® is one of the best options.

The card combines elite travel benefits and perks like worldwide airport lounge access, with excellent point earning and redemption options. Plus, it offers top-notch travel insurance protections to cover you at home or on the road.

Don’t forget the more than $2,000 in annual credits, which can offset the annual fee!

Pros & Cons

Pros

• 8x points on all Chase Travel purchases
• 5x points on Lyft rides
• 4x points on flights and hotels booked directly

Cons

• $795 annual fee

Read Full Review

Card Highlights

• Earn 125,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
• Get more than $2,700 in annual value with Sapphire Reserve.
• Earn 8x points on all purchases through Chase Travel℠, including The Edit℠ and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases
• $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year.
• Access over 1,300 airport lounges worldwide with a complimentary Priority Pass™ Select membership, plus every Chase Sapphire Lounge^® by The Club with two guests. Plus, up to $120 towards Global Entry, NEXUS, or TSA PreCheck^® every 4 years
• Get up to $150 in statement credits every six months for a maximum of $300 annually for dining at restaurants that are part of Sapphire Reserve Exclusive Tables.
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance, no foreign transaction fees, and more.
• Get complimentary Apple TV+, the exclusive streaming home of Apple Originals. Plus Apple Music — all the music you love, across all your devices. Subscriptions run through 6/22/27 — a value of $250 annually
• Member FDIC

Financial Snapshot

• APR: 20.24% - 28.74% Variable
• Foreign Transaction Fees: None

Rewards Center

Chase Ultimate Rewards

Here’s a look at the new slate of available statement credits:

• $300 annual travel credit
• $300 annually in monthly DoorDash promos and a complimentary DashPass membership worth $120 annually
• Up to $120 Global Entry, TSA PreCheck, or Nexus credit every 4 years
• $500 annual The Edit prepaid hotel credit, delivered in the form of up to $250 in statement credits from January to June and from July to December
• $300 annual dining credit and primetime reservations at Sapphire Reserve Exclusive Tables, available for booking on OpenTable, delivered in up to $150 credits from January to June and from July to December
• $300 annual StubHub credit on concert and event tickets, delivered in $150 credits from January to June and from July to December
• $120 in annual Lyft in-app credits, up to $10 monthly
• $250 in annual value through subscriptions to Apple TV+ and Apple Music
• Up to $120 in annual statement credits toward Peloton memberships

For this comparison, we’ll group these statement credits into the following buckets and compare similar perks from each card: travel, dining/entertainment, and shopping/lifestyle.

Travel Credits

Each of our featured cards is a travel rewards card, first and foremost, and each offers a solid spread of travel-related statement credits that provide extra value on every journey.

Annual Travel Credit

First, each offers an annual travel credit, though they’re structured differently.

The Amex Platinum card offers a $200 annual airline fee credit for incidental purchases. In other words, airline tickets, gift cards, and points or miles purchases are not eligible for this credit. Also, you must select an eligible airline when you enroll in the benefit, and the statement credits will only be issued for qualifying purchases with this airline.

Meanwhile, Chase offers a far more useful $300 travel credit every year on the Chase Sapphire Reserve card. Many purchases, including airfare, rental cars, public transit tickets, freeway tolls, and more, count toward this credit. Plus, you can use the entire amount in a single transaction, which helps save a significant amount of cash on a trip if you have the entire amount to use.

Winner: Chase Sapphire Reserve card

Hotel Credits

The Amex Platinum card made big changes to its annual prepaid hotel credit in its latest refresh, increasing the total value to up to $600, coming in the form of up to a $300 credit each half of the year.

Cardmembers can use this credit at Amex Fine Hotels + Resorts and The Hotel Collection properties. No matter which portfolio you book with, you’ll get elite-like perks during your stay. Note that Fine Hotels + Resorts benefits apply to stays of just 1 night, while The Hotel Collection benefits only apply when you stay a minimum of 2 nights.

With extensive portfolios of participating properties, it will likely be easy for cardmembers to achieve the maximum value, though it is unfortunate that the entire amount cannot be used in 1 stay.

The Chase Sapphire Reserve also made a splash with its all-new $500 annual credit for The Edit properties, distributed biannually in increments of $250. The Edit benefits are comparable to those of Fine Hotels + Resorts and provide elite-like perks at participating properties, including free breakfast, early check-in, late checkout, and more.

Both credits are structured in the same way, but the Amex Platinum card offers a higher total potential value and more properties to choose from between 2 separate portfolios.

Winner: Amex Platinum card

Hot Tip:

Read our full guide comparing American Express Fine Hotels + Resorts and The Hotel Collection so you’re aware of the differences before you make a booking.

Lyft and Uber Credits

The Amex Platinum card offers 2 Uber-centric credits:

• Up to $200 in annual Uber Cash
• Up to $120 Uber One credit

Amex Platinum cardholders receive their Uber Cash when adding their card details to their Uber account. The Uber Cash benefit is distributed monthly, with January through November getting a $15 statement credit and December getting $35. U.S. Uber rides and Uber Eats purchases are eligible for these credits, making this benefit versatile and giving you some control over how you use it.

The Uber One membership credit is new — and very helpful. The service provides $0 delivery fees for Uber Eats orders, 6% back in Uber One rewards for rides, up to 10% off on pickup or delivery orders, savings on surge pricing, and more. Again, Uber One provides benefits on ride-share services and Uber Eats orders.

On the other hand, Chase has partnered with major competitor Lyft to provide cardholder benefits. Chase Sapphire Reserve cardholders receive $120 annually in Lyft credits, distributed in monthly increments of $10.

Each entrant has structured their ride-share benefits in the coupon-book model, with a set amount available each month. However, the Amex Platinum card offers more versatility of its Uber credits and the larger monthly credit amounts.

Winner: Amex Platinum card

Airport Program Credits

The Amex Platinum card and the Chase Sapphire Reserve card offer a statement credit every 4 years that reimburses the enrollment fee for TSA PreCheck or Global Entry. Remember, if you’re approved for Global Entry, you’ll be automatically enrolled in TSA PreCheck.

However, the Chase Sapphire Reserve card’s credit can also be used for NEXUS, the program for pre-approved, low-risk travelers between the U.S. and Canada.

However, the Amex Platinum card also includes an annual credit of up to $209 for the cost of an annual CLEAR Plus membership, which pushes it over its rival from Chase, which does not offer that benefit.

Winner: Amex Platinum card

Dining/Entertainment Credits

Both the Amex Platinum card and the Chase Sapphire Reserve card have leaned into the fact that most cardholders spend handsomely on dining and entertainment, and each has responded by offering unique credits in these categories.

Dining Credits

The Amex Platinum card now offers up to $400 annually for purchases at Resy restaurants, distributed as up to $100 statement credits every quarter. These are applied automatically when you dine at a Resy restaurant and use your card to pay your bill. Many top restaurants in cities around the country participate in Resy, so saving up to $100 every quarter on dining out shouldn’t be hard.

I should mention the Uber Cash credits from above here, too. Theoretically, you could use all those credits for U.S. Uber Eats orders, adding another up to $200 credit to the up to $400 Resy credit. Remember, though, that the Uber credits are distributed as monthly installments of $15, with $35 coming every year in December.

On the other hand, the Chase Sapphire Reserve card offers a $300 annual dining credit, distributed as 2 installments of $150 for each half of the year.

Also, the card offers $300 annually in monthly DoorDash promos and a complimentary DashPass membership, worth $120 annually. However, this benefit is where the coupon-book model goes overboard, resulting in far less actual value than what’s advertised on paper.

Instead of providing real value by giving cardholders $25 per month to use at DoorDash as they please, they’ll only receive $5 toward a restaurant each month, and then 2 separate $10 promos for non-restaurant items. Shopping through a list of eligible merchants for these small promos creates a lot of work for the cardholder, and only getting $5 back per month on a food delivery order isn’t anything to write home about in today’s high-price environment.

This round is close because the credits’ total values are similar. Still, the Amex Platinum card offers more usability because of the ease of use of its Uber Cash credits and savings at U.S. Resy restaurants.

Winner: Amex Platinum card

Entertainment Credits

The Amex Platinum card offers up to a $300 digital entertainment credit annually, distributed in monthly increments of up to $25. It is eligible for use on purchases from several streaming and subscription services, including Disney+ (including Disney+ Bundle), ESPN+, Hulu, Peacock, The New York Times, and The Wall Street Journal.

The Chase Sapphire Reserve card offers up to $250 in annual value via complimentary subscriptions to Apple TV+ and Apple Music. It also offers up to $300 back in statement credits for concert and event tickets purchased through StubHub, delivered in $150 increments in each half of the year.

Even though the Amex Platinum card has increased the amount of its entertainment credit, the Chase Sapphire Reserve card bests it here because cardholders can (and very likely will) use the annual StubHub credit easily twice every year.

Winner: Chase Sapphire Reserve card

Shopping and Lifestyle Credits

Finally, these high-end travel rewards cards provide statement credits for shopping and lifestyle purchases, including fitness memberships and products. Let’s examine each card’s offerings.

Shopping Credits

In its latest refresh, the Amex Platinum card upped the ante for shopping credits by adding up to a $300 Lululemon credit, distributed in quarterly installments of up to $75. This is an excellent addition to the card’s lineup of statement credits, as it’s easy to find something you can purchase outright with the up to $75 quarterly credit. For example, you can purchase a pair of shorts at a regular price of $68, and with tax, you’ll be right at or slightly above the $75 mark.

In addition, the card continues to offer the up to $100 Saks Fifth Avenue credit, which is distributed as up to a $50 statement credit twice per year. If you’re a little savvy, it’s fairly easy to find great items to purchase at Saks for right around $50, making this a small win for cardholders.

Finally, the Amex Platinum card offers a $155+ Walmart+ credit, which is dispersed monthly to cover the subscription fee. Walmart+ provides free shipping on Walmart purchases (and more), a complimentary Paramount+ subscription, discounts on gas, discounts on digital Burger King orders, and even a free Whopper quarterly.

The Chase Sapphire Reserve card doesn’t offer any shopping-centric credits as a standard feature, though if you spend $75,000 annually on the card, you’ll unlock a $250 credit to The Shops at Chase, its new shopping platform that includes many upscale brands.

Winner: Amex Platinum card

Lifestyle Credits

The Amex Platinum offers a couple of lifestyle-focused statement credits, including up to a $300 Equinox credit. This credit can be used for subscriptions through the Equinox+ digital fitness app or eligible Equinox club memberships. However, if you prefer to work out at a gym, note that Equinox doesn’t have locations in every city and tends to be clustered in the largest metropolitan areas only.

Additionally, cardmembers can utilize up to a $200 Oura Ring credit, which applies only to the cost of the ring, not the monthly subscription required for it to function as intended. The cheapest ring you can buy is a previous-generation model that sells for $199 on Oura Ring’s website.

The Chase Sapphire Reserve card offers up to $120 annually for Peloton memberships, distributed in monthly installments of $10.

When put head-to-head, the Oura Ring and Peloton credits are essentially a wash, even though the Amex Platinum card’s offering is more valuable on paper. However, American Express can offer significantly more potential value, especially if you work out at Equinox, since you can easily achieve the $300 savings.

Winner: Amex Platinum card

Final Thoughts

Unfortunately, the coupon-book model is here to stay. This model provides thousands of dollars of value per card on paper. Still, cardholders need to stay vigilant by understanding the structure of how these credits are awarded to realize that value.

However, there is a clear winner regarding which card delivers these statement credits better. Maybe it’s simply because it’s been at it for longer, but, in our eyes, the Amex Platinum card provides a better value proposition thanks to what it offers credits for, how it structures them, and how much value is provided with each.

At the end of the day, the better card depends entirely on how you spend money and what you value personally, so use this as a reference when deciding which travel card belongs in your wallet.