Published On : January 8, 2022 by: Sakshi Sharma/Category(s) : Banking & Finance
When it comes to travel and dining rewards, two credit cards stand out above the rest: The Chase Sapphire Preferred® Card and the American Express® Gold Card. See how they stack against each other below in our Chase Sapphire Preferred vs American Express Gold card comparison guide.
The Chase Sapphire Preferred® Card has a $95 annual fee and delivers 2X points on travel and dining at restaurants, 1 point per dollar on all other purchases. The card’s sign-up bonus resets each calendar year and is worth 50,000 points, or $625 in travel when you redeem through Chase Ultimate Rewards®. An added perk of a carryover bonus is the 3:1 point transfer to leading frequent travel programs including airline transfer partners. What really sets it apart from competitors though is its sky-high redemption options via Chase Ultimate Rewards®, including flights with no blackout dates, hotels (starting at just 1,000 points per night), cruises, and more. Go through its detailed differentiation ahead.
Now let us begin with Chase Sapphire Preferred vs American Express Gold card comparison
Chase Sapphire Preferred costs an Annual Fee of $95 and American Express Gold Card costs $250. When you consider that other travel rewards cards might cost up to $550 per year, this is still a good deal.
The yearly charge on the Amex Gold Card can be mitigated with a number of credits. Cardholders can get a $120 Uber Cash annual credit ($10 per month) for rides and Uber Eats eating (you must add your Amex Gold Card as a payment method in the Uber app in order to enroll). You could also get a $120 annual dining credit ($10 per month) to use at eateries like The Cheesecake Factory, Ruth’s Chris Steak House, and selected Shake Shack locations, and also delivery companies including Seamless, Grubhub, and Boxed (enrollment required). The credits are given out at the start of each month and must be utilized within that month or they will expire.
The Chase Sapphire Preferred card has a variable APR of 15.99 percent to 22.99 percent, while the American Express Gold Card has a variable APR of 15.99 percent to 22.99 percent.
Through March 2022, Chase Sapphire Preferred members earn 5X points on travel purchased through Chase Ultimate Rewards®, 3X points on dining, and 2X points on all other travel purchases; 5X points on Lyft rides.
For dining at U.S. restaurants, the American Express Gold Card offers 4X Membership Rewards points (up to $25,000 per year, thereafter 1X); 3X points on flights booked directly with airlines or through amextravel.com; and 1X points on all other purchases.
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When you spend $4,000 on purchases in the first three months after opening your Chase Sapphire Preferred account, you’ll get 60,000 bonus points, which can be worth up to $750 when redeemed through Chase Ultimate Rewards®. After spending $4,000 on eligible purchases within the first six months of account opening, the American Express Gold Card offers 60,000 Membership Rewards points.
You can only apply for the Chase Sapphire Preferred if you don’t already have a Chase Sapphire card and have not yet earned a cardholder reward for a Chase Sapphire card in the last 48 months. Also be mindful of Chase’s 5/24 rule, which states that if you’ve acquired five credit cards in the last 24 months, you’re more likely to be denied approval for a new Chase card. At the very same moment, the 60,000-point welcome bonus for the Amex Gold Card is only available if you haven’t previously had the card or a Premier Rewards Gold Card.
The Chase Sapphire Preferred card provides a $50 annual Ultimate Rewards Hotel Credit, whereas the American Express Gold Card provides a $120 annual dining credit ($10 per month) at participating restaurants and a $120 annual Uber credit ($10 per month) at participating Uber locations.
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It all boils down to personal taste when it comes to the finest card for redeeming your hard-earned points. Kingdom of Hyatt, Marriott Bonvoy, and IHG Rewards Club for hotels, and United Airlines, Southwest, and JetBlue for airlines, are among Chase Ultimate Rewards’ 13 transfer partners. Delta, Avianca, British Airways, Emirates, and Etihad are among the airline transfer partners, while Marriott Bonvoy, Hilton Honors, and Radisson are among the hotel transfer partners.
The Chase Sapphire Preferred stands out in this area for two reasons. First, by redeeming points through the Chase Ultimate Rewards travel portal, cardholders can get a 25% bonus, raising their value to 1.25 cents per point. Second, with the Pay Yourself Back tool, points can be redeemed for recent purchases, which is a convenient option for individuals who haven’t traveled much recently.
The Chase Sapphire Preferred® Card is known for its attractive sign-up bonus, flexible rewards redemption, and travel perks. Even though it has a $95-a-year fee, it’s waived the first year. But if earning big rewards quickly is your priority, compare this card with the American Express Gold Card, which comes with a $250 annual fee. The Gold Card offers tons of ways to inch out more value in travel perks at hotels and restaurants around the world. If you’re looking for a travel credit card that’ll let you earn points to use on a wide variety of travel experiences, check out our roundup of the best cards for travel rewards.
Now, which card are you looking up to? Do comment down in the comments section below the page and let us know your suggestions about these two cards. For more updates stay tuned with OneClick Activate and we hope you liked our brief yet informative post. Do not forget to leave your valuable feedback behind because your suggestions, help us improve!