The Points and Miles World was buzzing this week, with two ads of the main issuers. The first was Monday’s news about a Next update of American Express Platinum Card®. Then, we learned Tuesday about a Complete renewal of the CHASE SAPPHIRE Reserve® established to launch next week (and to affect existing cardals as of October 26, 2025).
Both stories promoted a lot of traffic here on TPG, both on the site and in our social media channels, especially among existing cardales. But as we also cover, now it is not the time for Make a precipitous decision. There are many changes in the premium card market, but that makes it more important than ever breathing and calmly analyze each product. Only then can you choose the one that will work best for you.
To help, here is a quick comparison of the key benefits in Amex Platinum, Sapphire reserve (as of June 23, 2025 or October 26, 2025 for existing edges) and Capital One Venture X Rewards CED Credit:
| Card | AMEX PLATINO | Chase Sapphire reserve | Capital One Venture X |
|---|---|---|---|
| Profit rates | 5 points per dollar spent on flights directly with airlines or via American Express Travel® (at $ 500,000 in purchases per calendar year, then 1 point per dollar)
5 points per dollar spent on prepaid hotels with American Express Travel 1 point per dollar spent on other eligible purchases |
8 points per dollar spent on all travel shopping purchases
5 points per dollar spent on Lyft trips (until September 30, 2027) 4 points per dollar spent on flights and purchases of hotels directly with the merchant 3 points per dollar spent on gastronomic purchases 1 point per dollar spent on all other purchases |
10 miles per dollar spent on hotels and rented cars reserved through Capital One Travel
5 miles per dollar spent on reserved rentals and flights reserved through Capital One Travel 2 miles per dollar spent on All other purchases |
| Transferred partners | 21 (18 airlines and three hotels programs) | 14 (11 airlines and three hotel programs) | More than 15 (16 airlines and three hotel programs) |
| TPG in June 2025 valuation | 2 cents per point | 2.05 cents per point | 1.85 cents per mile |
| Direct travel redings |
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| Access to the living room | Eligible cardales have access to the American Express Global Lounge collection, which includes:
|
Chase sapphire rooms
Priority passage rooms |
Capital solubres
Priority passage rooms |
| Salon guest privileges | Two free guests in priority pass, premium square and escape halls | Two free guests in sapphire pass and priority rooms | Two free guests in capital one and priority pass salons, although this become more restrictive As of February 1, 2026 |
| Notable declaration credits |
*Registration is required; TEARMS apply. |
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| Elite status | Status of courtesy with the honors of Marriott Bonvoy and Hilton (registration is required) | IHG One of courtesy Reward the state of the platinum until December 31, 2027 | None |
| Annual rate | $ 695 (see rates and rates) | $ 550, although this will increase to $ 795 for the new applicants as of June 23, 2025 (the existing cardales will see the new annual rate in their next renewal as of October 26, 2025) | $ 395 |
As you can see, there is a batch Consider when looking at these three cards, and that does not even take into account any welcome bonus that wins when adding one to your wallet for the first time. One can excel in your income rates, while the credits of the declaration are better in another.
Read more: Gane as high as a welcome offer of 175,000 points in Amex Platinum
However, there are some concrete ways to analyze that they could be better for their situation.
What is your typical spending activity?
The bonus categories of the Sapphire reserve are among its biggest changes, since it will no longer enjoy 3 points per dollar in all travel expenses. From next week (or October 26, 2025, for existing edges), there will be 8 points per dollar spent in Chase Travel, 4 points per dollar spent on direct airlines and hotels of hotels, 3 points per dollar spent on food purchases and 1 point per dollar spent any other place.
This change hurts me personally, but in general, it is still a cut above the Amex Platinum and Venture X. However, the venture x is fantastic for all purchases, since it earns at least 2 miles per dollar spent, so think where you spend your money and which card would maximize those purchases as a whole.
What is the real value of declaration credits?
Card Issuers have adopted Annual declaration credits In recent years, but it is essential to think about its own real world value of these advantages. The travel credit of the Sapphire reserve remains the most flexible, although it would say that Venture X is a second close. Meanwhile, the airline rate credit in the AMEX Platinum requires that you select a specific airline and only apply to the rates, not to the air rate.
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However, the Amex Platinum has a long list of Other declaration creditsWhile the Sapphire reservation will soon have its own list. But think of how easy they are to use and to what extent you will use to save money. For example, an Apple TV+ subscription only puts money in your pocket if you already pay it.
What coin is more valuable for you?
Each of these transferable coins It can offer tremendous value, but you must analyze what makes sense to you. AMEX generally offers the lowest direct redemption value, but has fantastic transfer partners such as Ana Mileage Club. Chase currently has the best value for direct refunds, but that will eventually change with the implementation of Boost points. Meanwhile, Capital One is potentially the most flexible option, since you can charge any travel purchase to your card and then redeem your miles for a declaration loan To compensate for it.
Look at the transfer partners and be honest on how you plan to use your rewards. Then choose the program that fits your habits.
What is worth access to the living room depending on where he lives and flies?
Finally, look at the rooms at their origin airport and their frequent destinations. Does one of these cards offer more extensive access? What about the policies and rates of the guests? If you frequently travel with your family like me, you will want to take it into account when you look at access. The broadcast brand halls are fantastic, but there is no value to obtain access to the Sapphire Lounge at Laguardia airport in New York (LGA) If Delta always flies, which operates from a different terminal.
There is time to make this decision
The most important thing to keep in mind is that you have a lot of time to make the decision on which of these cards is suitable for you. After all, the existing sapphire reserve cardales will not see a higher annual rate until their next renewal date (or later) on October 26, 2025. We will not see New access restrictions to the room with company X Until February 1, 2026. And we have zero details about how a renovated Amyx could be. Maybe it is The annual rate could reach $ 1,000 – But Amex could also adopt a totally different approach.
It is easy to get caught in these ads, but do not make an emotional decision. Carefully analyze each card through the lens of your own situation. Then, choose the one that offers you the best rewards and the greatest value (compared to the annual rate).
For the rates and rates of the Amyx Platinum, click here.
