The Chase Sapphire Preferred Card has had a stranglehold on the mid-level travel credit card market for quite some time. And with a 60,000 sign-up bonus after spending $4,000 in the first three months, you can see why – especially when you consider the card only has a $95 annual fee.
But recently, American Express increased the welcome bonus offer and added a few new benefits to the American Express Gold Card, Amex’s competitor to the Chase Sapphire Preferred Card.
Many consumers and travelers alike put these cards head-to-head. Ultimately, both cards are a fantastic option. But there are some key differences between them that could sway you if you’re forced to make a decision.
Let’s take a look at how they stack up, comparing the Amex Gold vs the Chase Sapphire Preferred Card in a number of key categories.
Amex Gold vs. Chase Sapphire Preferred Comparison Overview
| Card: | American Express® Gold Card | Chase Sapphire Preferred Card |
|---|---|---|
| Annual Fee: | $250 | $95 |
| Welcome Bonus: | 60,000 Amex Membership Rewards points after spending $4,000 in the first 6 months of card membership. | 60,000 Chase Ultimate Rewards points after spending $4,000 in the first three months of card membership. |
| Points Earning: | 4x Membership Rewards points per dollar spent at all restaurants worldwide 4x Membership Rewards points per dollar spent at US supermarkets (on up to $25,000 of spending annually, then 1x) | 2x points per dollar spent on all restaurant and travel purchases, 2x points per dollar spent on groceries through April 2021 1x point on all other purchases. |
| Transfer Partners: | 20 Airline partners 3 Hotel partners | 10 Airline partners 3 Hotel partners |
| Perks: | $100 airline incidental credit each year $10 monthly dining credit $10 monthly credit to use at Uber or Uber Eats Free year of Uber Eats Pass | Chase Pay Yourself Back Primary rental car insurance Trip delay Cancelation protection/insurance Baggage loss and delay protection |
Annual Fee
While both credit cards fall into the lower end of credit card annual fees – at least as far as top travel credit cards go – there’s a clear winner here.
The Chase Sapphire Preferred has a lower annual fee at $95. Meanwhile, the Amex Gold comes with a considerably higher annual fee at $250 (see rates and fees).
For many, the decision comes down to this simple cost. There’s no question that the Amex Gold card comes with a number of benefits and bonus earning categories that can offset the annual fee and justify a much higher price tag. But in terms of upfront dollars, the Chase Sapphire Preferred credit card is the clear winner when we look solely at the initial, out-of-pocket costs.
Winner: Chase Sapphire Preferred Card only charges $95 per year, a much easier-to-swallow annual fee for anyone looking for a great mid-tier credit card.
Welcome Bonus
The Chase Sapphire Preferred Card offers a welcome bonus of 60,000 Chase Ultimate Rewards points after spending $4,000 in the first three months of card membership.
The American Express Gold Card on the other hand offers a welcome bonus of 60,000 Amex Membership Rewards points after spending $4,000 in the first six months of card membership.
No matter what, you’ll earn the same amount of welcome bonus points, but the American Express Gold card will give you three extra months to spend the required $4,000. For many, this could make the bonus much more attainable. And you may be able to qualify for an even bigger 75,000-point welcome bonus on the Amex Gold card via CardMatch.
We will get into the specifics of these points and what they can get you later. Simply put, 60,000 Amex points are not equal to 60,000 Chase points, as everyone should value these currencies differently based on their own travel goals.
But the American Express Gold Card wins this category as it is simply easier to attain the 60,000 bonus points.
Winner: American Express Gold Card. You’ll have an extra three months to earn the full 60,000 point welcome bonus on the American Express Gold Card.
Welcome Bonus Eligibility
A big welcome bonus doesn’t matter much if you can’t even earn it.
Both banks have some restrictions you’ll need to keep in mind to give yourself the best chance of being approved for either card.
Chase Sapphire Preferred Card: This card is subjected to the Chase 5/24 rule. This means that if you have opened 5 or more credit cards in the past 24 months from any bank (not just Chase cards), you will not be approved for the Chase Sapphire Preferred card. And that’s true regardless of your credit score or history with Chase bank. Learn more on the Chase 5/24 rule with our YouTube video.
Amex Gold Card: Amex largely only considers your history with American Express when looking at new card applicants. Generally speaking, they allow you to earn a welcome bonus on each of their cards once per lifetime. So as long as you have never had the American Express Gold Card (or the Premier Rewards Gold Card as it was previously branded), and your credit score warrants approval, you should be eligible to earn the welcome offer bonus.
One nice thing with Amex is that their welcome offer bonus eligibility tool will let you know before you have submitted your application and they have pulled your credit whether or not you are eligible to earn the welcome bonus. So even if you’re not sure, it is worth a try. You can cancel before your card application is officially submitted.
Winner: Amex Gold Card. The Chase 5/24 rule is extremely restrictive. While Chase looks at all of your card applications from every bank, Amex largely only considers your history with American Express. That makes it much easier for many people to get approved for the Amex Gold card.
Click Here to learn more about the Amex Gold Card.
Points Earning
The Chase Sapphire Preferred earns 2x points per dollar spent on all restaurant and travel purchases, 2x points per dollar spent on groceries (through April 2021), and 1x point on all other purchases.
Chase’s definition of travel is quite broad and includes airlines, hotels, motels, timeshares, car rental agencies, cruise lines, travel agencies, discount travel sites, campgrounds, and operators of passenger trains, buses, taxis & rideshare platforms, limousines, ferries, toll bridges and highways, and parking lots and garages.
The Amex Gold Card earns 4x Membership Rewards points per dollar spent at all restaurants worldwide, and 4x Membership Rewards points per dollar spent at US supermarkets (on up to $25,000 of spending annually, then 1x). Additionally, the Amex Gold card will earn 3x Membership Rewards points per dollar spent on flights booked directly with the airline or through Amex Travel – not each and every travel expense, as with Chase. You’ll earn 1x point per dollar spent on every other category.
The Amex Gold offers some of the best bonuses on groceries and restaurants of any card period. It even beats Chase’s top tier premium travel credit card – the Chase Sapphire Reserve. These spending categories alone are a big part of the reason we think the Amex Gold card is largely worth its $250 annual fee.
Winner: The Amex Gold Card. If you spend a decent amount on restaurants and at the grocery store, the Amex Gold card is one of the best options, period – not just in this matchup.
Click Here to learn more about the Amex Gold Card.
Travel Portal Booking
Booking flight deals like those you find here at Thrifty Traveler or with a Thrifty Traveler Premium membership is one of our favorite ways to use points. And in this category, one of these cards in the battle between the Amex Gold vs Chase Sapphire Preferred is the clear favorite.
That distinction goes to the Chase Sapphire Preferred Card as your Chase Ultimate Rewards points are worth 1.25 cents each when you hold the card and book travel through Chase’s travel portal. That means those 60,000 points are worth a minimum of $750.
American Express Membership Rewards points are worth a flat 1 cent each when you redeem them through the Amex Travel Portal at amextravel.com. So that same 60,000-point welcome bonus is worth just $600 through Amex Travel.
Here’s an example. We recently featured a Thrifty Traveler Premium deal from New York to London, England for $405 roundtrip.
Because your Chase Ultimate Rewards points are worth 1.25 cents when used to book travel through the Ultimate Rewards portal, you could book that deal for 32,400 Chase Ultimate Rewards points.
But since Amex Membership Rewards points are always worth a flat 1 cent when you use them to book through the Amex Travel portal, this same fare would cost you 40,500 Membership Rewards points.
The increased value of Chase Ultimate Rewards points when using them to book through the Chase Ultimate Rewards portal is why they are our favorite points for booking flight deals. And critically, when you book deals through either of these travel portals, you will still earn miles with whatever airline you’re flying.
Winner: Chase Sapphire Preferred. With the increased value when used through the Chase travel portal, the Chase Sapphire Preferred is the clear winner in this category.
Transfer Partners
Transferring points to your airline and hotel accounts can unlock some serious value. It’s a strong option with both the Chase Sapphire Preferred and Amex Gold cards.
All told, Chase can transfer to 10 airlines and three hotel brands. Here’s the full list of Chase’s transfer partners.
Read our Master Guide to Earning and Burning Chase Ultimate Rewards points.
Chase Ultimate Rewards Transfer Partners
| Program | Type | Transfer Ratio | Transfer Time |
|---|---|---|---|
| Aer Lingus | Airline | 1:1 | Instant |
| Air France/KLM | Airline | 1:1 | Instant |
| British Airways | Airline | 1:1 | Instant |
| Emirates | Airline | 1:1 | Instant |
| Iberia Plus | Airline | 1:1 | Instant |
| JetBlue | Airline | 1:1 | Instant |
| Singapore Air | Airline | 1:1 | 12-24 hours |
| Southwest Airlines | Airline | 1:1 | Instant |
| United Airlines | Airline | 1:1 | Instant |
| Virgin Atlantic | Airline | 1:1 | Instant |
| World of Hyatt | Hotel | 1:1 | Instant |
| IHG | Hotel | 1:1 | 1 day |
| Marriott Rewards | Hotel | 1:1 | 2 days |
American Express Membership Rewards points can transfer to nearly 20 airlines and three hotel brands. Unlike Chase, not all programs will transfer at a 1:1 ratio. And Amex also typically tacks on a small fee of 0.06 cents per point (capped at $99) on transfers to U.S.-based airlines (like Delta), where all transfers from Chase Ultimate Rewards are free.
Here’s the full listing of American Express transfer partners.
American Express Transfer Partners
| Program | Type | Transfer Ratio | Transfer Time |
|---|---|---|---|
| Aer Lingus | Airline | 1:1 | N/A |
| AeroMexico | Airline | 1:1.6 | 2-12 days |
| Air Canada Aeroplan | Airline | 1:1 | Instant |
| Air France/KLM | Airline | 1:1 | Instant |
| Alitalia | Airline | 1:1 | Instant |
| ANA | Airline | 1:1 | 1-2 days |
| Avianca | Airline | 1:1 | Instant |
| British Airways | Airline | 1:1 | Instant |
| Cathay Pacific | Airline | 1:1 | 1-7 days |
| Delta | Airline | 1:1 | Instant |
| El Al | Airline | 50:1 | Instant |
| Emirates | Airline | 1:1 | Instant |
| Etihad | Airline | 1:1 | Instant |
| Hawaiian | Airline | 1:1 | Instant |
| Iberia | Airline | 1:1 | 1-3 days |
| JetBlue | Airline | 1.25:1 | Instant |
| Qantas | Airline | 1:1 | Instant |
| Singapore | Airline | 1:1 | 12-48 hours |
| Virgin Atlantic | Airline | 1:1 | Instant |
| Choice Privileges | Hotel | 1:1 | Instant |
| Hilton Honors | Hotel | 1:2 | Instant |
| Marriott Bonvoy | Hotel | 1:1 | Instant |
Winner: Tie. This one is too close to call. It will ultimately come down to which transfer partners you value more. Both offer one of the big four U.S. carriers (Chase has United and Amex has Delta) and a number of international carriers. Chase has the edge among hotels with Hyatt, but American Express has many more options and offers more frequent transfer bonuses.
Read our guide on the best ways to use Chase Ultimate Rewards points.
Read our guide on the best ways to use Amex Membership Rewards points.
Perks & Additional Benefits
Both the Chase Sapphire Preferred and the Amex Gold Cards offer additional perks for cardmembers above and beyond the benefits we’ve already covered. And those have only grown during the pandemic.
First, let’s start with the Chase Sapphire Preferred. Back in May 2020, Chase rolled out a new benefit called Pay Yourself Back, allowing you to redeem points for purchases at grocery stores, home improvement stores, and restaurants for the same value as with travel. Watch how it works with our YouTube video.
Chase and Peloton also recently announced a new partnership that allows Sapphire Preferred cardholders to get $60 in statement credits towards a Peloton membership through Dec. 31, 2021. If that’s something you are already paying for, it takes care of a big portion of your annual fee.
Additionally, the card offers primary rental car insurance, trip delay, and cancelation protection/insurance as well as both baggage loss and delay protection. See our full review of the Chase Sapphire Preferred Card for more specific details on these perks.
Lastly, new Chase Sapphire Preferred cardholders will now get a $50 statement credit to use at the grocery store upon opening their new account. This will take care of more than half of your first year annual fee.
While the Amex Gold card has a much higher annual fee ($250), it offers tons of annual statement credits that will substantially offset the annual cost of the card. Each year of card membership, you will receive a $100 airline incidental credit – though this benefit will disappear starting in 2022, and is not available for anybody approved for their card after Feb. 4, 2021. Until then, you can use it for fees like advanced seat assignment, checked baggage fees, and lounge access.
Additionally, the card offers a $120 annual dining credit that comes in $10 monthly increments. The credit can be used at Grubhub, Seamless, The Cheesecake Factory, Boxed.com, Ruth’s Chris Steakhouse, or Shake Shack. Any month that you don’t use the $10 credit, you will lose it. It won’t roll over to the next month.
You’ll also receive a $10 monthly credit to use at Uber or on their food delivery platform Uber Eats. Like the dining credits, you’ll lose any credit that isn’t used each month – it won’t roll over. But if you can use this up each and every month, that’s another $120 in statement credits.
You will also get a free year of Uber Eats Pass, an Uber Eats’ paid membership with unlimited $0 delivery fees, 5% off all food deliveries over $15, and free delivery on all grocery deliveries over $30. Those memberships typically cost $9.99 alone, so it’s a decent benefit to the Gold Card (Platinum and Green cardholders will get this as well).
Winner: Amex Gold Card. While the card does have a higher annual fee, the perks, and additional benefits it provides more than offset that in my opinion. It’s why I think the card is worth the $250 annual fee.
Click Here to learn more about the Amex Gold Card.
Bottom Line
By the numbers, The Amex Gold card takes four categories while the Sapphire Preferred takes two – and one is ruled a tie. But every cardholder will weigh these individual categories differently.
Your decision when deciding on the Amex Gold vs Chase Sapphire Preferred card should be based on which categories you value highest.
Both cards offer a strong value proposition for travelers and should make a strong addition to your wallet. And critically, many hold both of these cards as they are a great way to earn two of the most valuable points – Chase Ultimate Rewards and Amex Membership Rewards and diversify your points and miles balances.