For many people, the high annual fees associated with ultra-premium travel cards like the Chase Sapphire Reserve and The Platinum Card from American Express are not justifiable. If you don’t travel regularly and take advantage of all the perks and credits, it may not be worth adding these cards to your wallet. However, both Chase and Amex offer excellent travel cards that fall under their premium versions – the Chase Sapphire Preferred Card and the American Express Gold Card. While these cards are sister cards to their luxury counterparts, there are several differences between them. In this article, we will compare the Chase Sapphire Preferred Card and the American Express Gold Card to help you determine which one is right for you, or if both deserve a place in your wallet.
First, let’s compare the key perks of the two cards:
Chase Sapphire Preferred Card:
– Welcome bonus: 60,000 bonus points after spending $4,000 on purchases in the first three months from account opening.
– Annual fee: $95.
– Earning rates: 5 points per dollar on travel booked through the Ultimate Rewards Travel portal, 5 points per dollar on Lyft through March 2025, 3 points per dollar on dining, 3 points per dollar on select streaming services, 3 points per dollar on online groceries (excluding Target, Walmart, and wholesale clubs), and 2 points per dollar on travel.
– Point valuation: 2.05 cents.
– Perks: $50 annual credit on hotel stays purchased through Ultimate Rewards, cardmember anniversary bonus (earn 10% of your points back each year), and travel protections including trip cancellation and interruption insurance, primary car rental insurance, and baggage insurance.
American Express Gold Card:
– Welcome bonus: 60,000 Membership Rewards points after spending $6,000 on purchases in the first six months of card membership.
– Annual fee: $250.
– Earning rates: 4 points per dollar on dining at restaurants, takeout, and delivery in the U.S., 4 points per dollar on U.S. supermarkets (up to $25,000 spent each calendar year, then 1 point per dollar), 3 points per dollar on flights booked directly from the airline or amextravel.com, and 1 point per dollar on everything else.
– Point valuation: 2 cents.
– Perks: Up to $120 annual dining statement credit (up to $10 monthly), up to $120 in annual Uber Cash ($10 monthly credits), and up to $100 hotel experience credit with a two-night minimum stay when booking The Hotel Collection through American Express Travel. The card also offers travel and purchase protections.
In terms of the welcome bonus, the Sapphire Preferred offers 60,000 bonus points after meeting the spending requirement, while the Amex Gold offers the same but with three extra months to earn the bonus. The value of the bonus is slightly higher for the Sapphire Preferred, but the extra time to earn it with the Amex Gold evens out the playing field.
When it comes to benefits, the Sapphire Preferred offers a $50 annual hotel credit for bookings through Chase Travel and a 10% bonus on your cardmember anniversary. It also provides travel protections like rental car insurance, trip delay and cancellation insurance, and baggage loss and delay insurance. On the other hand, the Amex Gold offers several perks including an up to $120 annual dining statement credit, up to $120 in annual Uber Cash, and up to $100 in hotel credits for qualifying activities. The Amex Gold also provides travel and purchase protections. Both cards offer valuable benefits, but the Amex Gold offers more for a higher annual fee.
In terms of earning points, the Sapphire Preferred offers 3 points per dollar on dining, select streaming services, and online groceries, and 2 points per dollar on travel. The Amex Gold, on the other hand, offers 4 points per dollar on dining worldwide, 4 points per dollar on U.S. supermarkets (up to $25,000 in spending per calendar year), and 3 points per dollar on flights booked directly with airlines. The higher earning rates on dining, U.S. supermarkets, and flights give the Amex Gold an advantage in this category.
Both cards earn valuable transferable points currencies. The Sapphire Preferred earns Ultimate Rewards points, which can be redeemed for travel through the Chase Ultimate Rewards portal or transferred to Chase’s hotel and airline partners. The Amex Gold earns Membership Rewards points, which can be redeemed for travel through AmexTravel.com or transferred to Amex’s hotel and airline partners. Both options offer great value, but the Chase Ultimate Rewards program has a slight edge with its 14 transfer partners.
In conclusion, both the Chase Sapphire Preferred Card and the American Express Gold Card have their advantages. The Sapphire Preferred offers a lower annual fee, valuable travel perks, and a strong earning structure. The Amex Gold, on the other hand, offers more perks and higher earning rates on dining, U.S. supermarkets, and flights. Ultimately, the right card for you will depend on your spending habits and travel preferences. If you value dining and supermarket rewards, the Amex Gold may be the better choice. If you prioritize travel perks and a lower annual fee, the Sapphire Preferred is a solid option.