The factors and miles world was buzzing this week, with two bulletins from main issuers. The primary was Monday’s information a few forthcoming refresh of The Platinum Card® from American Specific. Then, we realized Tuesday a few 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 visitors right here at TPG, each on the positioning and on our social media channels, particularly amongst current cardmembers. However as we additionally lined, now is just not the time to make a rash determination. There’s plenty 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 decide 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 immediately with airways or through American Specific Journey® (on as much as $500,000 in purchases per calendar 12 months, then 1 level per greenback)
5 factors per greenback spent on pay as you go resorts 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 (by Sept. 30, 2027) 4 factors per greenback spent on flights and lodge purchases immediately 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 resorts and automotive leases booked through Capital One Journey
5 miles per greenback spent on trip leases and flights booked through Capital One Journey 2 miles per greenback spent on all different purchases |
| Switch companions | 21 (18 airways and three lodge applications)
|
14 (11 airways and three lodge applications) | 15-plus (16 airways and three lodge applications) |
| 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 Cross lounges |
Capital One Lounges
Precedence Cross lounges |
| Lounge visitor privileges | Two free friends in Precedence Cross, Plaza Premium and Escape lounges | Two free friends in Sapphire and Precedence Cross lounges | Two free friends in Capital One and Precedence Cross lounges, although it will develop into 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 by Dec. 31, 2027 | None |
| Annual charge | $695 (see charges and charges) | $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 charge on their subsequent renewal on or after Oct. 26, 2025) | $395 |
As you may see, there is a lot to contemplate when taking a look at these three playing cards — and that does not even think about any welcome bonus you’d earn by including one to your pockets for the primary time. One might 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 a number of concrete methods to investigate which could be a greater match in your scenario.
What’s your typical spending exercise?
The Sapphire Reserve’s bonus classes are amongst its greatest adjustments, as you may now 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 total, it is nonetheless a lower above the Amex Platinum and Enterprise X. Nonetheless, the Enterprise X is incredible 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 a complete.
What’s the precise worth of the assertion credit?
Card issuers have embraced annual assertion credit lately, but it surely’s crucial to consider your personal, real-world worth of those perks. The Sapphire Reserve’s journey credit score stays probably the most versatile, although I would say the Enterprise X’s is a detailed second. In the meantime, the airline charge credit score on the Amex Platinum requires you to pick out a selected airline and solely applies to charges, not airfare.
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Nonetheless, the Amex Platinum has a protracted listing of different assertion credit, whereas the Sapphire Reserve will quickly have its personal listing. However assume by how simple they’re to make use of, and to what extent you’ll truly use them to save cash. For instance, an Apple TV+ subscription solely places a refund in your pocket in case you already pay for it.
Which forex is most dear to you?
Every of those transferable currencies can provide super worth, however you must analyze which is smart for you. Amex sometimes affords the bottom direct redemption worth, but it surely has incredible switch companions like ANA Mileage Membership. Chase presently has the very best worth for direct redemptions, however that’ll finally change with the implementation of Factors Enhance. In the meantime, Capital One is probably probably the most versatile possibility, as you may cost any journey buy to your card after which redeem your miles for an announcement credit score to offset it.
Have a look at the switch companions and be trustworthy about how you propose to make use of your rewards. Then, decide this system that matches your habits.
What’s lounge entry actually value primarily based on the place you reside and fly?
Lastly, have 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 charges? Should you steadily 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 incredible, however there isn’t any worth in having access to the Sapphire Lounge at New York’s LaGuardia Airport (LGA) in case you at all times fly Delta Air Strains, which operates from a special terminal.
There’s time to make this determination
An important factor to notice is that you’ve got 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 charge 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 now we have zero particulars on what a revamped Amex Platinum may appear to be. Possibly its annual charge may hit $1,000 — however Amex may additionally take a completely totally different strategy.
It is easy to get caught up in these bulletins, however do not make an emotional determination. Rigorously analyze every card by the lens of your personal scenario. Then, decide the one that provides you the very best rewards and most worth (in comparison with the annual charge).
For charges and charges of the Amex Platinum, click on right here.
