The American Express® Gold Card and the Chase Sapphire Preferred® Card (see rates and fees) are always in my wallet — both are favorites here at TPG.
Aside from the benefits of these cards, both the Sapphire Preferred and the Amex Gold earn flexible points, which I can transfer to partner airlines and hotels to maximize my redemptions.
However, after using both cards and their points currencies, one program reigns supreme. Let’s look at why I prioritize earning Chase Ultimate Rewards points instead of American Express Membership Rewards points.
Which is better for points: Amex or Chase?
Amex and Chase both have flexible currencies that are extremely valuable. TPGs August 2025 valuations peg Amex Membership Rewards points at 2 cents per point and Chase Ultimate Rewards points at 2.05 cents a point.
Chase points can sometimes be more valuable when redeemed through Chase Travel℠. As a Sapphire Preferred cardholder, my points are worth up to 1.75 cents per point, depending on the specific redemption, with Points Boost.
However, when you redeem Membership Rewards points through the American Express Travel portal, your points are only worth up to 1 cent apiece.
Aside from booking through the respective portals, I tend to maximize my points by transferring them to airline and hotel partners. While Amex has 20 transfer partners compared to Chase’s 14 partners, each program offers valuable hotel and airline options, allowing you to maximize your rewards with sweet spot redemptions.
Another redemption option is to redeem points for cash back. Amex points are only worth a meager 0.6 cents per point when redeemed this way, compared to Chase points, which are worth 1 cent per point.
While both programs have positives and negatives, I prioritize earning Chase points over Amex points.
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Related: Amex Membership Rewards vs. Chase Ultimate Rewards: Which is the best?
Why am I not prioritizing earning Amex Points?
Amex Membership Rewards points are one of the most valuable flexible point currencies you can earn.
Some of my favorite ways to use Amex points are transferring them to Avianca LifeMiles and Air Canada Aeroplan for redemptions on Star Alliance flights or to Virgin Atlantic Flying Club to fly across the pond.
Despite these valuable transfer partners, I don’t find much value in many of Amex’s other transfer partners and rarely use them.
The bulk of my spending on my cards is dining, and that’s why my Amex Gold always stays in my wallet. It earns 4 points per dollar spent on worldwide dining at restaurants (on up to $50,000 each calendar year, then 1 point per dollar spent).
Furthermore, the Amex Gold earns 3 points per dollar spent on flights booked with airlines or Amex Travel, and it has been my main card for booking flights.
However, I am now prioritizing Chase points over Amex because I have a stockpile of Amex points. At TPG, we recommend not hoarding points, as airlines and hotels frequently devalue their programs. Whenever I have a large bank of one rewards currency, I look to earn more in any currency I am low on.
Additionally, the majority of my flights for the rest of the year are already booked. So, I’m focusing on hotel redemptions for the rest of the year; Chase has the best hotel transfer partners, with Hyatt, IHG and Marriott.
While my Chase Sapphire Preferred only earns me 3 points per dollar spent on dining and 2 points per dollar spent on travel purchases (i.e., booking flights), I’m opting to sacrifice earning an extra point per dollar spent on these purchases so I can earn the currency I want.
Related: Chase Sapphire Preferred vs. Amex Gold: Which mid-tier favorite is right for you?
Why am I prioritizing earning Chase points?
Chase Ultimate Rewards are my most valuable flexible rewards currency. My go-to redemption with Ultimate Rewards points is transferring them to World of Hyatt to cover my hotel stays when traveling.
As I mentioned, I have all my flights booked for the rest of 2025, but I don’t have all my hotel stays planned. I have far fewer Chase points than Amex points, but with Hyatt being a transfer partner of Chase, I can get a great redemption value.
I have often scored room redemptions during peak season in popular European cities for between 6,500 and 9,500 points. Hyatt still uses a fixed award chart, unlike other programs that operate using dynamic pricing. Therefore, I typically find outstanding value for award room rates, especially during off-peak dates.
Just recently, I transferred 6,500 Chase points to Hyatt for a brief overnight stay at the Hyatt Place Amsterdam Airport, which would have cost me over $200.
With Chase Ultimate Rewards, I can also transfer my points to Southwest Airlines. The Southwest Rapid Rewards program frequently has award sales and offers nonstop flights on less popular routes that many domestic airlines usually fly, but with a connection. As a result, Southwest has become my go-to airline when I need a last-minute domestic award flight.
Additionally, there’s United Airlines, another valuable Chase transfer partner. With United, I can unlock numerous flight possibilities by redeeming miles to book award tickets on United planes or Star Alliance partner airlines.
For example, I just recently redeemed 8,000 United miles and paid $25 in taxes and fees for a flight on LOT Polish Airlines from Warsaw Chopin Airport (WAW) to Amsterdam Airport Schiphol (AMS). The cash price was over $300, which netted me a value of over 2.3 cents per mile.
Other considerations
I also appreciate that my points are worth up to 1.75 cents per point when booking through Chase Travel (depending on the specific booking).
I don’t often book flights or hotels through the portal because I can get more value by using transfer partners, but this is a potentially higher value than I would get if I booked through Amex Travel, as travel booked through their portal is only worth up to 1 cent per point.
Knowing that I can still get more than 1 cent per point by booking through Chase Travel (depending on the booking) if a transfer partner redemption is unavailable makes Chase points that much more valuable to me.
Additionally, earning Chase Ultimate Rewards points gives me more flexibility if I ever decide I want cash back for my points, as each Chase point is worth 1 cent when redeemed for cash back. This makes it possible to get cash back at a 1:1 ratio with Chase, even if my travel strategy changes.
Lastly, I have many upcoming international trips planned. Having traveled abroad extensively, I find it much easier to use a Chase Visa credit card when overseas. Despite Amex’s wide acceptance worldwide, I’ve encountered many places abroad that don’t accept Amex, making it harder to earn Amex points when I’m abroad.
Bottom line
The Chase Sapphire Preferred and the Amex Gold are two cards with great earnings rates. Because of this, they’re both key players in my overarching points and miles earning strategy. However, my current earnings strategy emphasizes accruing Chase points.
My strategy could change if I run low on Amex points or if a new lucrative welcome offer presents itself, but overall, Chase offers better redemption partners that help me maximize my travels.
Related: Why I love my Chase Sapphire Preferred card — and will always keep it in my wallet
