Chase Sapphire Preferred vs. Amex Gold Card Comparison

Both cards come with a variety of credits that can help offset the annual fee. The Chase Sapphire Preferred offers cardholders up to $50 in annual Ultimate Rewards Hotel Credit and up to $10 in monthly Gopuff credit (through Dec. 31, 2023).

Meanwhile, Amex Gold cardmembers can take advantage of a $120 Uber Cash annual credit ($10 per month) for rides in the U.S. and dining via Uber Eats (you must add your Amex Gold Card as a payment method in the Uber app in order to enroll). You can also benefit from a $120 annual dining credit ($10 per month) to use with certain delivery services like Seamless and Grubhub, as well as restaurants including The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar and select Shake Shack locations (enrollment required). The credits are awarded at the beginning of every month and must be used that month or they expire.

The American Express Gold Card gives you 4X Membership Rewards points at restaurants and U.S. supermarkets (up to $25,000 annually, then 1X points afterward), 3X points when you book flights directly through the airline or via amextravel.com and 1X points on other eligible purchases. 

As far as the best card for redeeming your hard-earned points, it all comes down to your personal preference. Chase Ultimate Rewards has 14 transfer partners to choose from, including World of Hyatt, Marriott Bonvoy and IHG One Rewards for hotels and United Airlines, Southwest and JetBlue for airlines.

American Express Membership Rewards offers 20 transfer partners, including Delta, Avianca, British Airways, Emirates and Etihad for airlines and Marriott Bonvoy, Hilton Honors and Choice Privileges for hotels.

With the American Express Gold Card, 1 point is worth a penny for flights booked through American Express Travel, and only $0.006 apiece when redeemed for statement credits.

If you decide to transfer either your Amex points or Chase points to their respective transfer partners, you’ll likely get a higher value than when redeeming through each bank’s travel portal or for cash back. When using this method, Amex and Chase point values can reach up to 10 cents per point when booking first or business class flights.

If you’re using your 80,000 points to book travel through the Chase Ultimate Rewards portal, they’re worth 25% more, or $1,000. If you’re redeeming them for cash outright, their value drops to $800, which is still impressive.

If you’re booking flights and hotels through American Express Travel, or redeeming them for cash back, your 60,000 Amex Rewards points would be worth about $600 or $420, respectively.

Note that you’re only eligible to sign up for the Chase Sapphire Preferred if you don’t currently have another Chase Sapphire card, and you haven’t received a cardholder bonus for a Chase Sapphire card in the last 48 months. Also be aware of Chase’s 5/24 rule, which means you’re more likely to be denied approval for a new Chase card if you’ve already opened five credit card accounts in the last 24 months. At the same time, you’re only eligible to receive the 60,000-point welcome bonus for the Amex Gold Card if you haven’t already had the same card or a Premier Rewards Gold Card in the past.

Consumers with either card can benefit from:

Chase Sapphire Preferred cardholders enjoy these perks:

• Receive 25% more value on points redeemed for travel through the Chase Ultimate Rewards® portal
• $50 annual Ultimate Rewards Hotel Credit
• Up to $10 monthly Gopuff credit through December 31, 2023
• A complimentary one-year subscription to DashPass by DoorDash when you enroll by December 31, 2024
• The option to split larger payments over $100 into no-interest fixed-fee monthly payments via My Chase Plan
• Trip cancellation and trip interruption insurance, zero liability protection

American Express Gold Card holders enjoy these benefits:

• $10 in Uber Cash each month, a total of $120 per year, to use toward rides or Uber Eats in the U.S. when you link your Gold Card to your Uber account (you have to enroll first to use this program)
• A $10 statement credit per month, up to $120 per year, when you enroll your Gold Card and order from Grubhub, Seamless or other participating restaurants and food delivery services
• The option to pay your bill in full each month, keep a balance with interest or break up larger purchases over $100 into fixed-fee monthly payments with Plan It and the card’s Pay Over Time benefit
• $100 in credits toward spa treatments, dining and other activities when you book through The Hotel Collection via American Express Travel
• Amex Offers, which lets you earn limited-time rewards for things you’re buying anyway whether you’re shopping online or at the store (enrollment required and offers vary depending on location)
• Early access to ticket pre-sales, preferred seating and members-only events from sports and concerts to Broadway shows, as part of American Express Experiences

There’s more flexibility to redeem points for a host of travel experiences and recent purchases with the Chase Sapphire Preferred. However, if dining, groceries and Uber are your main focus, the American Express Gold Card may be a better fit. 

In the end, it all comes down to your personal preferences — as far as favorite airlines and hotel chains you’d like to redeem points for — and spending habits, though each card offers enough travel and dining perks to satisfy every type of traveler.