The Chase Sapphire PreferredÂ® Card* and American ExpressÂ® Gold Card are two of the most lucrative rewards credit cards available. Both cards earn flexible and transferable points â either Chase Ultimate Rewards or American Express Membership Rewards. Both cards also offer solid welcome offers and earning potential, and each card can unlock powerful redemptions.
Deciding between the two comes down to what youâre looking for in a credit card and how much youâre willing to pay for extra services and perks. Letâs take a look at the Amex Gold versus Chase Sapphire Preferred and see which card may be right for you.
Chase Sapphire Preferred vs Amex Gold: At a glance
American ExpressÂ® Gold Card
Chase Sapphire PreferredÂ® Card
|Welcome bonus||60,000 Membership Rewards points after you spend $4,000 in the first 3 months||60,000 Ultimate Rewards points after you spend $4,000 on purchases in the first 3 months|
Both the Amex Gold card and the Chase Sapphire Preferred card offer the ability to earn valuable flexible points. American Express Membership Rewards and Chase Ultimate Rewards points work in similar ways â the one you value most will depend on what other credit cards you have and how you typically travel. Itâs fair to say that a Membership Rewards point and an Ultimate Rewards point have a similar, if not equal, value.
See related: American Express Membership Rewards vs. Chase Ultimate Rewards
That being said, the category bonuses of the American Express Gold card are decidedly better than those of the Chase Sapphire Preferred, for most people.
The Sapphire Preferred card only earns 2 points per dollar in the travel and dining categories, while the Gold Card earns 4 points per dollar at restaurants worldwide and 3 points per dollar on flights booked directly with airlines or amextravel.com.
It is true that Chaseâs definition of the dining and travel categories is less restrictive (dining and travel versus restaurants and only flights at amextravel.com). Still, once you consider that the Gold Card also gives 4 points per dollar at U.S. supermarkets (on up to $25,000 in purchases annually, then 1 point per dollar), most people will likely earn more from ongoing spending with the Amex Gold card.
Both Membership Rewards points earned with the Amex Gold Card and Ultimate Rewards points earned with the Sapphire Preferred can be redeemed in two major ways (at least for the most value per point). You can either transfer your points to hotel or airline partners or use your points to book travel directly.
Both American Express and Chase have a variety of hotel and airline transfer partners available. American Express has 22 different transfer partners, while Chase has 13 transfer partners. While the two brands share a few partners (Air France/KLM, British Airways and Marriott Bonvoy for instance), for the most part deciding which partnerships are worth more will depend on how you travel.
In most cases, both Ultimate Rewards and Membership Rewards points transfer 1:1 to airline miles and hotel points, and both American Express and Chase offer periodic temporary transfer bonuses to various partners.
When it comes to redeeming points directly for travel, on the other hand, Chase Ultimate Rewards points are distinctly superior. You can book flights through amextravel.com at a rate of 1 cent per Membership Rewards point, but for other types of travel (hotel, car rentals, etc.), you will only get a value of 0.7 cents per point. Ultimate Rewards points redeemed by a Chase Sapphire Preferred cardholder, however, get a value of 1.25 cents per point on airfare, lodging, rental cars and even some travel experiences.
The Chase Sapphire Preferred does not have very many noteworthy perks, other than its high welcome bonus and redemption options â but one nice benefit is its rental car coverage. The Preferred card offers primary rental car coverage, meaning you donât have to file with your own insurance carrier first. Rental car coverage on the Amex Gold card is only secondary (after your own primary car insurance.)
The American Express Gold card has two big perks that come with having the card, that can boost its value. First, there is a $120 Uber Cash credit â the most recent addition to the list of Amex Gold benefits. You can use up to $10 per month on Eats or Rides in Uber Cash when you add your Amex Gold as a payment method in your Uber app.
best cards for grocery spending.
On the other hand, the higher welcome offer, increased value in redeeming points and lower annual fee mean that the Sapphire Preferred will likely provide more value for most people, especially during the first year of having the card. Take a look at your spending and travel patterns and decide which card is best for you.
*All information about the Chase Sapphire Preferred Card has been collected independently by CreditCards.com and has not been reviewed by the issuer.Â