In the world of miles and points, flexible points from banks trump miles from an individual airline each and every time.
You can book travel directly, using your points to cover airfare or hotels with almost any airline or chain. Or you can get even more value out of your points by transferring them to airline or hotel partners. From Capital One to Citi and even Wells Fargo, there are plenty of banks to choose from … but there are two long-standing titans in the points-and-miles world: American Express Membership Rewards and Chase Ultimate Rewards.
For years, these two transferable points were the gold standard of travel rewards, but a few recent moves have us questioning whether Chase and American Express points still live up to the hype. To be clear: Amex Membership Rewards and Chase Ultimate Rewards are far from worthless … but they might be worth less than they used to be.
Even still, both of these points are essential tools that every award traveler should have in their tool belt. Deciding which is best is far from a black-and-white answer, but we'll do our best to break down the differences and similarities to help you decide which points are best for you and your travels.
Comparing Transfer Partners
The ability to transfer points to hotel and airline partners is part of what makes both Amex and Chase points so valuable. It's often the best way to get the most bang for your buck … err, points
At first glance, the bevy of options for American Express Membership Rewards points could potentially blow Chase out of the water. You've got 17 airlines and three hotel chains to choose from, as compared to just 10 airlines and four hotels at your disposal with Chase.
The sheer number of partners doesn't tell the full story, though. Over the past year, we've seen Amex reduce the transfer ratio for a pair of international airline partners: You'll now get a sub-par 5:4 conversion when moving points to both Emirates Skywards miles and Cathay Pacific Asia Miles. Add JetBlue to the list of sub-1:1 conversions (though that isn't new), and the takeaway is clear: Your Amex points don't go as far as they used to.
Compare that to Chase points, which transfer to each and every partner at a 1:1 ratio, and having more partners with Amex might not be quite the silver bullet it seems.
But Chase has made some (negative) changes of its own over the last year, such as dropping Emirates as a transfer partner. And its golden goose – Hyatt – recently raised rates at many of its most desirable properties.
Add it all up, and these aren't the exact same programs travelers have known (and loved) for years. Here's a look at the current landscape:
American Express Airline Transfer Partners
| Program | Type | Transfer Ratio | Transfer Time |
|---|---|---|---|
| Aer Lingus | Airline | 1:1 | Instant |
| AeroMexico | Airline | 1:1.6 | 3-5 days |
| Air Canada Aeroplan | Airline | 1:1 | Instant |
| Air France/KLM | 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 | 5:4 | Instant |
| Delta | Airline | 1:1 | Instant |
| Emirates | Airline | 5:4 | Instant |
| Etihad | Airline | 1:1 | Instant |
| Iberia | Airline | 1:1 | Up to 24 hours |
| JetBlue | Airline | 1.25:1 | Instant |
| Qantas | Airline | 1:1 | Instant |
| Qatar Airways | Airline | 1:1 | Instant |
| Singapore | Airline | 1:1 | Instant |
| Virgin Atlantic | Airline | 1:1 | Instant |
American Express Hotel Transfer Partners
| Program | Type | Transfer Ratio | Transfer Time |
|---|---|---|---|
| Choice Privileges | Hotel | 1:1 | Instant |
| Hilton Honors | Hotel | 1:2 | Instant |
| Marriott Bonvoy | Hotel | 1:1 | Instant |
Chase Ultimate Rewards Airline Transfer Partners
| Program | Transfer Ratio | Transfer Time |
|---|---|---|
| Aer Lingus | 1:1 | Instant |
| Air Canada Aeroplan | 1:1 | Instant |
| Air France/KLM | 1:1 | Instant |
| British Airways | 1:1 | Instant |
| Iberia Plus | 1:1 | Instant |
| JetBlue | 1:1 | Instant |
| Singapore Air | 1:1 | 12-24 hours |
| Southwest Airlines | 1:1 | Instant |
| United Airlines | 1:1 | Instant |
| Virgin Atlantic | 1:1 | Instant |
Chase Ultimate Rewards Hotel Transfer Partners
| Program | Transfer Ratio | Transfer Time |
|---|---|---|
| World of Hyatt | 1:1 | Instant |
| IHG | 1:1 | Instant |
| Marriott Rewards | 1:1 | Instant |
| Wyndham Rewards | 1:1 | Instant - next business day |
Let's break it down a bit further. Chase and Amex share a handful of transfer partners, including Aer Lingus, Air France/KLM Flying Blue, British Airways, Iberia, JetBlue, Singapore Airlines, Virgin Atlantic, and Marriott. As you dive further into the differences, Amex consistently comes out ahead.
For SkyTeam airlines, American Express has you covered with both Delta, Virgin Atlantic, and Air France/KLM. Amex Membership Rewards are the only bank points that can be transferred to Delta, allowing you to cash in on one of the amazing Delta SkyMiles flash sales even if you're short on SkyMiles … that's a win in our books.
Get amazing Delta SkyMiles deals sent to your inbox with Thrifty Traveler Premium+!
If you're looking to book on a Star Alliance airline, Amex has some of the absolute best frequent flyer programs in its belt.
First, there's Air Canada's Aeroplan program. And even after a major overhaul in late 2020, there are some great sweet spots to book Star Alliance award travel with Aeroplan miles. You can even book flights on Etihad (including the Apartments) with Aeroplan miles now, too. Chase added Aeroplan as a transfer partner in 2021.
But a real winner for Amex is Japan's ANA – especially since Amex is your only real source for these miles. Using ANA, you can book roundtrip flights to Japan in business class for what most airlines charge for a one-way ticket. Getting to Japan and back in a lie-flat seat from 100,000 miles is a steal, and ANA makes it possible.
Finally, Avianca LifeMiles is a quirky program from the Colombian airline with some great options for booking Star Alliance flights. You can book domestic flights on United Airlines for fewer miles than United itself – a Chase transfer partner – would charge. It's also one of the best ways to book flights in business or first class to Europe or Asia. But overall, LifeMiles offers good award flight rates and very low fees. That can make it well worth a buggy website and shoddy customer service.
Chase has United and Aeroplan, which are both solid airline programs. But that's it.
Within the Oneworld Alliance, Amex and Chase points largely come to a draw, with one caveat. Both banks have British Airways and Iberia at their disposal, which we consider the strongest in the alliance, other than American, which isn't an option for either bank. Meanwhile, Amex can also transfer points to Cathay Pacific's AsiaMiles program: A great option for short-haul travel within Asia and some other valuable (albeit niche) uses.
Using Iberia, you can book a roundtrip flight to Spain in business class for just 81,000 miles – less than a typical economy award ticket.
And British Airways should be on your radar if you want to get to Hawaii for cheap. Using British Airways Avios, you can fly from several West Coast cities to all four major Hawaiian airports for 40,000 miles roundtrip.
If there's one weakness in Amex's roster of transfer partners, it's hotels. And the one thing that could tip this competition in Chase's favor is Hyatt.
While Hyatt points have lost some of their shine lately, the program still reigns supreme – especially at the lower end – blowing the likes of Marriott and Hilton out of the water.
Moving points to any of Amex's hotel partners isn't typically a great choice, except for the 1:2 transfer ratio to Hilton Honors. If you get one of our Thrifty Traveler Premium Hotel Alerts for a top-tier Hilton or Small Luxury Hotels property, transferring Membership Rewards can make a lot of sense.
Read more: Could Hilton Dethrone Hyatt as the Top Hotel Program?
Transfer Bonuses
When it comes to transfer bonuses, American Express's broad array of strong transfer partners gives it a lead over Chase. Mix in the more frequent bonuses on points transfers (at least in normal times), and Amex really starts to pull away.
American Express Transfer Bonuses
Several times each year – almost monthly, really – American Express will team up with a specific airline and give travelers a bonus to transfer their miles. From 10% extra to 30% (or more), these bonuses are basically free airline miles. And who doesn't want those?
Amex has offered a 40% bonus to Virgin Atlantic the past two years and it's not uncommon to see a 20% 0r 30% bonus to Air France/KLM Flying Blue at least once per year either. British Airways, Iberia, and Aer Lingus – all part of the same parent company – have seen outstanding bonuses as high as 40% when transferring Amex points.
Check out our full list of all the current transfer bonuses!
Chase Transfer Bonuses
Meanwhile, Chase has really caught up to Amex on the transfer bonus front over the past few years. At this point, there's almost surely a transfer bonus going on from one of these two banks each and every month.
We often see transfer bonuses as high as 40% from Chase to Virgin Atlantic, Air France/KLM Flying Blue, and British Airways. Meanwhile, hotel chains like Marriott and IHG often get bonuses as big as 100%. No matter how big the bonus, these are always a great opportunity to multiply your points for even greater value.
While American Express used to have more frequent and reliable transfer bonuses, Chase has greatly narrowed the gap – and maybe even surpassed Amex as of late.
The Best Redemption Options
When comparing Amex and Chase points, it's all about the redemptions. So let's put some of the absolute best redemptions head-to-head between Amex and Chase.
The Best Amex Redemptions
With 20 transfer partners, there are tons of options to redeem Amex points. These are just a few of our favorites.
- Fly business class to Tokyo and back in ANA business class starting from just 100,000 miles roundtrip by transferring your Membership Rewards to ANA. Read how to use ANA Mileage Club!
- Save some points to transfer to Delta and book a SkyMiles flash sale, like a roundtrip flight to Asia from 25,000 SkyMiles, or fly in style with a Delta One ticket from 85,000 SkyMiles one-way!
- Snag flights to Europe for just 32,000 roundtrip in economy by transferring points to Iberia – or 81,000 roundtrip to do it in business class!
Check out our full list of the best ways to redeem Amex points!
The Best Chase Redemptions
Amex may have Chase beat on the number of transfer partners, but there are still some stellar ways to redeem your Chase points.
- Book flights (or hotels and other travel expenses) directly through Chase Travel℠ to make your Chase points go even further with “Points Boost.” It's one of the easiest ways to redeem points for travel – and one of the only way to travel completely free.
- Transfer your points to Air France/KLM to fly business class flight to Europe from just 60,000 points each way – but beware of recently increased fees.
- Hyatt is far and away one of the strongest Chase transfer partners … even still. That’s largely because the hotel chain's low award rates make it easy to get outsized value on amazing hotels worldwide.
Read our full guide to earning & burning Chase Ultimate Rewards points!
Earning Points
How to Earn American Express Points
Now you just need some American Express points – and you’re in luck. American Express has a handful of credit cards to earn Membership Rewards points.
Even with its big annual_fees (see rates & fees) annual fee , we still love *amex platinum card*. Of course, it doesn't hurt that you can currently earn a huge bonus on the card.
It starts with an offer as high as 175,000 American Express points after spending $12,000 within the first six months. Exactly what welcome offer you're eligible for will vary, and you may not be eligible at all. After you submit your application – but before you accept the card (if you are approved) and your credit is pulled – Amex will let you know the exact welcome offer you are eligible for.
Read our full review of the Amex Platinum Card!
Learn more about *amex platinum*.
There’s also the *amex gold card*, which is currently offering as high as 100,000 points after spending $8,000 within six months. Welcome offers vary and you may not be eligible for an offer – but you'll know if you are (and which offer you're eligible for) before applying and having your credit pulled.
To top it off, you’ll earn 4x points at restaurants worldwide on up to $50,000 spent annually (then 1x) and 4x points at U.S supermarkets on up to $25,000 per calendar year in purchases (then 1x).
This easily makes it one of the best cards for your weekly groceries and dining out. And that’s what makes it one of the best all-around cards for any traveler – and why it’s fairly easy to stomach the card’s annual fee.
Read More: Amex Gold vs Chase Sapphire Preferred: Which Credit Card is Right for You?
Learn more about the *amex gold*
How To Earn Chase Points
With Chase, there's a clear starting line: It's the *chase sapphire preferred*.
Welcome bonus offer: bonus_miles_full
Plus, the card comes with a modest $95 annual fee, which makes it pretty tough to beat. There are a handful of other perks, too, like earning 2x points on travel and 3x points per dollar spent on restaurant purchases and no foreign transaction fees.
Read our full review of the Chase Sapphire Preferred Card.
Learn more about the *csp*.
Then there's the *chase sapphire reserve*, the ultra-premium sibling of the Preferred card with tons of travel benefits and an even bigger bonus offer: bonus_miles_full
Learn more about the *chase sapphire reserve*.
That said, there’s another card that is a perfect complement to the Chase Sapphire Preferred Card. Actually, there are a few.
Enter the Chase Freedom Flex℠ and *freedom unlimited* cards. These two Chase credit cards have no annual fee and typically earn cashback. But pair one with a Chase Sapphire card, and it forms a powerful tandem that can help you earn even more Chase Ultimate Rewards points.
All information about the Chase Freedom Flex was collected independently by Thrifty Traveler and has not been reviewed by the issuer.
Bottom Line
There are upsides and downsides to each of the two biggest banks in the world of miles and points. While both have made some no-so-nice changes in the past year, these are points any award traveler would be wise to have in their tool belt.
No matter which you choose, you can't really go wrong … and who says you need to pick just one?
I could never understand the challenge between cards unless I was literally in the position of choosing between them. Honestly, TPG is the worse offender in card challenges. Instead, cards should be ranked and by their strict rules. After all, all cards are good, even WF. Chase comes out on top bc of their infamous 5/24. As an amateur starting in 2017, I hit the cards hard to rack up miles for two people to travel in business (this was my objective since revenue tickets were out of the question). In doing so, I burned right through the 5/24 rule and as of today, I am 8 months away from going under 5/24. After a card ranking, I would then advice to go for what you can get and or afford.
Great research. Enjoyed card comparison format requiring consumer to notes onto paper and make a thoughtful choice. Frankly, both cards are great travel tools.
Great! Thank you!
Currently deciding whether the AMEX gold card or the Chase Sapphire Reserve is the better card for daily spending. My main reason for accruing points it to be able to book expensive hotels & resorts. I’ve heard that Chase Reserve points have some kind of value multiplier when you’re booking directly through their website. Are AMEX & Chase points considered equal when booking through their travel websites or does one reign supreme? Thanks!
On this front, Chase points are definitely better. With the Chase Sapphire Reserve, every point is worth 1.5 cents toward travel when booking through the Chase Ultimate Rewards travel portal. Even with the Chase Sapphire Preferred, that’s 1.25 cents each. Read more: https://thriftytraveler.com/book-flights-with-chase-ultimate-rewards-points/
With Amex, it’s always just 1 cent each when booking that way.
Even less than a cent for each Amex point when booking hotels using Amex portal, usually 0.7 cent.
This article seems a bit biased. For business and first class redemptions of course MR points are better. For hotel redemptions however Hyatt blows all the other hotel programs out of the water in terms of value per point. You can easily get 2x – 4x cents/point value (I’ve seen 10x in some cases!) Sure, it’s nice to have business class seats on long haul flights but personally I prefer getting better value when I’m actually there (which is doubly important when traveling as a family, for three of us blowing points on business class isn’t that practical, especially since our 3-year-old son doesn’t benefit much from a lie-flat seat).
You raise some very fair points. Everyone needs to make their own decisions about what they value more in this world of points and miles. And clearly, that Hyatt transferability can be huge for some travelers, especially those who care less about premium cabin award tickets.
But if you book travel direct with Amex you get 5X points back
We attempted to use AMX points to go from Austin, TX to Istanbul to Tel Aviv and return to Austin in June-July, 2019. Price was 220,000 points per person. Using Chase points for same itinerary, 120,000. We did not specify what airline to use.
Solution seems to be to transfer AMX points to an airline that could give you a better rate..