Amex vs Chase Sapphire Reserve - Help me decide
A few questions to the more savvy members. I am considering a new credit card. It is between Amex and Chase sapphire reserve. I also already have two annual fee credit card (Venture X and Altitude Reserve). Both these cards are well utilized and well worth their benefits.
I have a Chase Freedom and Chase Freedom Flex credit cards. I have about 60k miles on it. I am thinking of opening a Chase Sapphire Reserve with an annual fee of $550 just so I can use and transfer the 60k miles I have on chase.
The problem I have are these:- The CSR benefits are such that I wouldn't use them much other than the $300 travel credit. I can't understand why this card has an annual fee of $550. Is it like a status symbol or people actually somehow break even? Probably I am missing something here. I don't use Lyft, DoorDash, InstaCart, Peleton, etc. I already have priority passes. The only thing I can maybe do is start using InstaCart for monthly groceries?
- Many benefits I get on CSR seems to also end in one year. What do people do after the first year?
- Getting a CSR would allow me to transfer the points to airlines but I have only booked 1 reward ticket in my life. I have always searched for reward ticket whenever I travel (every 2 months or so) but I never find any.
- Getting a CSR would allow me to just redeem the 60k miles for $900. That should be $300 higher than usual redemption. Is this the way to go for me?
If people could please reply to each specific point that would be helpful and help me wrap my head around this.
American Express seems to have these offers.
Amex Platinum personal 125k sign up bonus with $695 annual fee
Amex Gold Personal 90k signup bonus with $250 annual fee
For Amex Platinum with $695 yearly fee, the benefits I could potentially use is the $200 airline credit and $155 Walmart credit. Maybe I can start using Uber cash too ($200)? I don’t currently know how to utilize the Amex points.
Thanks.