What To Know
- Both offer a range of benefits, but which card is better for you depends on your individual needs and spending habits.
- Chase Sapphire Preferred offers a wider range of transfer partners than Amex Gold, making it more versatile for frequent travelers.
- Amex Gold has a higher annual fee of $250, while Chase Sapphire Preferred has an annual fee of $95.
When it comes to premium credit cards, Chase Sapphire Preferred and American Express® Gold Card are two of the most popular choices. Both offer a range of benefits, but which card is better for you depends on your individual needs and spending habits. In this comprehensive comparison, we’ll delve into the features, benefits, and drawbacks of each card to help you make an informed decision.
Earning Rewards
Chase Sapphire Preferred:
- Earns 2x points on dining, travel, and select streaming services
- Earns 1x point on all other purchases
Amex Gold:
- Earns 4x points at U.S. supermarkets (up to $25,000 in annual spending)
- Earns 4x points at U.S. restaurants
- Earns 3x points on flights booked directly with airlines
- Earns 1x point on all other purchases
Redeeming Points
Both cards offer flexible redemption options, including:
- Travel: Points can be redeemed for flights, hotels, and rental cars
- Gift cards: Points can be redeemed for gift cards to various retailers
- Cash back: Points can be redeemed for cash back at a fixed rate
Chase Sapphire Preferred:
- Points are worth 1.25 cents each when redeemed for travel through Chase Ultimate Rewards
- Points can also be transferred to a variety of airline and hotel loyalty programs
Amex Gold:
- Points are worth 1 cent each when redeemed for flights, hotels, and gift cards
- Points can also be transferred to a limited number of airline and hotel loyalty programs
Annual Fee
- Chase Sapphire Preferred: $95
- Amex Gold: $250
Benefits
Chase Sapphire Preferred:
- No foreign transaction fees
- Primary rental car insurance
- Trip cancellation/interruption insurance
- Baggage delay insurance
Amex Gold:
- $120 annual dining credit
- $100 annual Uber credit
- Airport lounge access (Priority Pass Select membership)
- Global Assist hotline
Drawbacks
Chase Sapphire Preferred:
- Lower earning rates on dining and groceries compared to Amex Gold
- Limited airport lounge access
Amex Gold:
- Higher annual fee
- Lower earning rates on non-category purchases
- Limited transfer partners
Which Card Is Right for You?
The choice between Chase Sapphire Preferred and Amex Gold depends on your individual needs and spending habits.
Consider Chase Sapphire Preferred if:
- You frequently travel and want flexible redemption options
- You don’t spend a lot on dining or groceries
- You value no foreign transaction fees
Consider Amex Gold if:
- You spend a significant amount on dining and groceries
- You value airport lounge access and dining credits
- You’re willing to pay a higher annual fee
Additional Considerations
- Transfer Partners: Chase Sapphire Preferred offers a wider range of transfer partners than Amex Gold, making it more versatile for frequent travelers.
- Lounge Access: Amex Gold provides access to a wider network of airport lounges than Chase Sapphire Preferred.
- Credit History: Both cards require a good to excellent credit history to qualify.
In a nutshell
The decision between Chase Sapphire Preferred and Amex Gold is a personal one. By carefully considering your individual needs and spending habits, you can choose the card that offers the best value and rewards for you. Remember to weigh the benefits, drawbacks, and annual fees of each card to make an informed decision.
Quick Answers to Your FAQs
Q: Which card has a higher annual fee?
A: Amex Gold has a higher annual fee of $250, while Chase Sapphire Preferred has an annual fee of $95.
Q: Which card offers more flexible redemption options?
A: Chase Sapphire Preferred offers more flexible redemption options, including travel, gift cards, and cash back.
Q: Which card offers better dining rewards?
A: Amex Gold offers better dining rewards, earning 4x points at U.S. restaurants.
