Which card ought to exchange my Amex Platinum? TPG’s prime 6 picks

The Platinum® Card from American Express, offers cardmembers over $1,500 in value thanks to travel, entertainment and dining statement credits. But nothing in life comes free — cardholders pay a $695 annual fee (see rates and fees).

For existing cardholders, Amex’s coupon-book style of statement credits may become difficult to keep track of or tiresome. As an Amex Platinum cardmember, I put in great effort to stay up to date per month, utilizing as many statement credits as I can. For others, a $695 annual fee (see rates and fees) can be tough to swallow — especially if you have maximized your welcome bonus and do not utilize all of the card benefits.

With that being said, let’s answer the overarching question: Which card should replace my Amex Platinum? If you’re considering swapping your Amex Platinum card with something else, here are six viable options that could work.

The Delta SkyMiles® Reserve American Express Card features a $650 annual fee (see rates and fees) and has some similarities with the Amex Platinum.

First, let’s talk lounge access. Beginning Feb. 1, 2025, Delta Reserve cardholders will get 15 complimentary annual visits to Delta Sky Clubs, with unlimited annual visits after spending $75,000 in a calendar year with the card. Additionally, primary and additional cardmembers get Centurion Lounge and Sky Club access when flying same-day Delta flights. Cardmembers will also need to pay $50 per person per location for Sky Club access when traveling on a Delta partner airline flight not marketed or operated by Delta.

Admittedly, the Delta Reserve does not have the best rewards rate ever, but neither does the Platinum. You’ll earn 3 SkyMiles per dollar on Delta purchases and 1 SkyMile per dollar on everything else.

The Delta Reserve offers a simple statement credit lineup that is more easily utilized than the Amex Platinum. The card offers an annual up to $240 Resy credit (up to $20 monthly), an annual up to $120 ride-hailing credit (up to $10 monthly), and an up to $200 annual Delta Stays credit. Enrollment required for select benefits.

Related: Credit card showdown: Amex Platinum vs. Delta Reserve

With the Delta Reserve, you’ll get an annual companion certificate upon card renewal. This is good for a round-trip ticket on first class, Premium Select, Delta Comfort+ & Main Cabin domestic, Caribbean, or Central American. Cardmembers also earn 1 MQD for every $10 spent with no limit on how many MQDs can be via credit card spending. Additionally, you receive an MQD boost of 2,500 MQDs each year.

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Related: How to earn Delta elite status without flying in 2024

Apply here: Delta SkyMiles Reserve

This next pick is the most obvious one. The Chase Sapphire Reserve® always goes head-to-head with the Amex Platinum.

Since the Amex Platinum has a $695 annual fee (see rates and fees), it makes the Sapphire Reserve the more affordable option. If you’ve thought about applying for the Sapphire Reserve but couldn’t justify paying two monstrous annual fees, maybe now is the time to cancel your Amex Platinum and go for the Sapphire Reserve.

Related: Amex Platinum vs. Chase Sapphire Reserve: Which card is right for you?

For starters, the Reserve, with its approachable $300 annual travel credit, feels less gimmicky than the Platinum. This credit automatically posts to your statement for any travel-related expenses, whether that be a flight, Uber rides, parking fees — the list goes on.

You won’t have Centurion Lounge access with the Reserve, but Priority Pass will still cover more than 1,300 lounges worldwide, and Chase now has its own footprint of issuer-branded lounges.

The rewards rate is much better on the Reserve, helping you accrue points beyond travel expenses. You’ll earn 10 points per dollar spent on Lyft (through March 2025), 3 points per dollar spent on travel and dining and 1 point per dollar spent on all other purchases. Those two bonus categories are far-reaching and are inclusive of any charge that code as travel and dining.

With the Sapphire Reserve, you’ll still get transfer partner abilities to Chase’s 11 airline and three hotel programs instantly at a 1:1 ratio. Some of TPG’s favorite programs include United MileagePlus, Air Canada Aeroplan and World of Hyatt.

Related: Sweet spots with Chase Ultimate Rewards

Apply here: Chase Sapphire Reserve

If you don’t want to open a new card entirely (which counts as a hard pull and may affect your credit score), you could consider downgrading to the American Express® Gold Card. You’ll still have the same access to the Membership Rewards program and redemption options without totally giving up on Amex.

Related: Amex Platinum vs. Amex Gold: Which is better?

The annual fee is much more reasonable at $250 (see rates and fees) and is virtually comped thanks to the up to $240 in dining and Uber Cash statement credits you’ll enjoy with the card every year (enrollment required; up to $10 per month each for eligible U.S. Uber purchases and select dining purchases).

This card is also catered to foodies, as you’ll earn 4 points per dollar spent at U.S. supermarkets (on up to $25,000 each year) and restaurants, 3 points per dollar spent on flights booked directly with airlines or on Amex Travel and 1 point per dollar spent on everything else.

While you won’t snag the welcome offer if you downgrade your card, you do have the option to close your Amex Platinum and open an Amex Gold separately.

Apply here: Amex Gold

This recommendation is among the most affordable options — the Chase Sapphire Preferred® Card, with a $95 annual fee.

While you might not think that the Sapphire Preferred falls in the same wheelhouse as the Amex Platinum, hear me out: It still gives you access to transferable points and, in this case, Chase’s 11 airline and three hotel programs. You can also use your points at a rate of 1.25 cents each when booking travel through Chase Travel℠.

You’ll earn 5 points per dollar on all travel purchased through Chase Travel, 3 points per dollar on dining, 3 points per dollar on select streaming services, 3 points per dollar points on online grocery purchases (excluding Target, Walmart and wholesale clubs), 2 points per dollar on all other travel and 1 point per dollar on everything else. Again, this is a much better everyday card while still having access to great travel perks (when you need them).

Apply here: Chase Sapphire Preferred

If you currently don’t qualify for a Chase card thanks to Chase’s infamous 5/24 rule, the Citi Strata Premier℠ Card (see rates and fees) could be your next best bet.

Rather than an annual fee increase, you’ll enjoy a significant fee decrease with the Strata Premier at a reasonable $95 per year. The Citi Strata Premier’s standout benefits include much better everyday rewards rates: 10 points per dollar spent on hotels, car rentals and attractions booked on CitiTravel.com, 3 points per dollar spent at restaurants, supermarkets, gas stations and EV charging stations, 3 points per dollar spent on air travel and hotels and 1 point per dollar spent on everything else.

Plus, you’ll get great access to a ton of transfer partners, many of which overlap with Amex. Citi partners with 19 airline programs, including lucrative options like Air France-KLM Flying Blue, Qatar Airways Privilege Club, and Virgin Atlantic Flying Club. If you’re a hotel fanatic, you’ll also love the annual incentive to get $100 off a single hotel stay of $500 or more when booked through CitiTravel.com or 1-833-737-1288.

You’ll also have access to some travel protections, including trip delay protection, trip cancellation and interruption protection (common carrier), lost or damaged luggage, and MasterRental® Coverage (car rental).

Apply here: Citi Strata Premier

The Capital One Venture X Rewards Credit Card is a great replacement for the Amex Platinum, thanks to several perks and benefits. With a lower annual fee of $395 (see rates and fees), you’ll feel less of a sting compared to the Amex Platinum.

The card offers a simple yet effective earning structure: 10 miles per dollar spent on hotels & rental cars booked through Capital One Travel, 5 miles per dollar spent on flights booked through Capital One Travel, and 2 miles per dollar spent on all other purchases.

The card provides a much more direct and easy-to-use $300 annual travel credit for bookings through Capital One Travel. Cardholders also earn 10,000 bonus miles every anniversary year, Hertz President’s Circle status* and 5 miles per dollar spent on Capital One Entertainment purchases through Dec. 31, 2025.

Where the card truly shines is with lounge access benefits. Cardholders receive access to Priority Pass lounges and Capital One Lounges with the ability to bring up to two guests for free. The icing on the cake is that Venture X allows you to add authorized users (see rates and fees) at no cost and they also receive access to lounges with the ability to bring up to two guests at no additional cost.

*Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at upgraded status level through Dec. 31, 2024. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g. at Hertz.com) will not automatically detect a cardholder as being eligible for the program and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply.

Related: A complete guide to Capital One’s airport lounges

Apply here: Capital One Venture X

For rates and fees of the Amex Platinum, click here.
For rates and fees of the Amex Gold, click here.
For rates and fees of the Amex SkyMiles Reserve, click here.