When it comes to flexible rewards programs for travel enthusiasts, the Amex Membership Rewards and Chase Ultimate Rewards stand out as two of the most popular options. However, each program has its unique advantages and drawbacks, and choosing the one that best suits your needs can be a daunting task.

Unveiling the Similarities and Differences

At first glance, Amex Membership Rewards and Chase Ultimate Rewards share several commonalities. Both programs offer a diverse range of redemption avenues, including travel, cash back, merchandise, and more. Additionally, they allow you to transfer your hard-earned points to a multitude of airline and hotel loyalty programs, potentially unlocking even greater value for your rewards.

However, as you delve deeper, you’ll uncover significant distinctions in areas such as redemption values, transfer partner options, earning rates, and more. By understanding these nuances, you’ll be better equipped to determine which program better aligns with your specific needs.

Earning Rewards

Both the American Express Membership Rewards program and the Chase Ultimate Rewards program offer a range of cards designed to earn rewards. While bonus categories are common, some cards provide a flat rewards rate across all purchases.

1. American Express Membership Rewards Cards

Some cards that offer opportunities to earn Amex Membership Rewards include:

• American Express® Green Card

• Amex EveryDay® Credit Card

• The Platinum Card® from American Express

• Amex EveryDay® Preferred Credit Card

• American Express® Gold Card

Many of these cards tempt users with enticing welcome bonuses and bonus points tailored to specific spending categories. For example:

1.1 The Platinum Card® from American Express Review

• Rating: 4.5/5 stars

• APR: Pay Over Time APR applies

• Annual Fee: $695

• Welcome Bonus: 80,000 Membership Rewards Points

The Platinum Card® from American Express has long epitomized luxury and opulence. Its hefty annual fee (refer to rates and fees) may initially seem daunting, but this premium card transcends mere status symbol—it delivers a comprehensive array of statement credits and perks that can offset the yearly cost for many cardholders.

Distinguished by its assortment of rebates, Platinum Card members can enjoy:

• $200 Hotel Credit: Applicable to prepaid bookings with select hotels (The Hotel Collection, with a minimum two-night stay).

• $200 Airline Fee Credit: Redeemable with a chosen airline.

• $240 Digital Entertainment Credit: $20 monthly benefit for eligible streaming subscriptions.

• $155 Walmart+ Credit: Covering the monthly membership fee.

• $200 Uber Cash: Receive a $15 monthly credit and an additional $20 bonus in December for U.S. Uber rideshares and Uber Eats.

• $300 Equinox Credit: Obtain up to $300 in statement credits annually when using Amex Platinum for the Equinox+ digital fitness app or eligible Equinox club memberships.

• $100 Saks Fifth Avenue Credit: Split into $50 benefits applicable between January and June, and again from July through December.

• $189 CLEAR Plus Credit: Applied towards an annual membership.

Enrollment is necessary for specific benefits, and terms and conditions apply.

The appeal of these benefits may vary depending on individual usage patterns and preferences. Nonetheless, those who leverage The Platinum Card® from American Express to its fullest potential will discover substantial value surpassing its $695 annual fee (refer to rates and fees).

It’s important to note that terms and conditions apply to all benefits.

1.2 American Express® Gold Card Review

• Rating: 4.5/5 stars

• APR: Pay Over Time APR pplies

• Annual Fee: $250

• Welcome Bonus: 60,000 Membership Rewards Points

Indulge your culinary cravings with the American Express® Gold Card, a delight for food enthusiasts. This tantalizing card rewards you with 4X points for every dollar spent at restaurants worldwide, including eligible takeout and delivery services within the U.S. Additionally, enjoy 4X points at U.S. supermarkets, capped at $25,000 per calendar year (then 1%). Earn 3X points on flights booked directly through airlines or amextravel.com and 1X point per dollar on other eligible purchases. Terms and conditions apply.

Although the $250 annual fee (refer to rates and fees) may seem daunting for some households, the card offers up to $120 in annual Uber Cash credits. These credits are issued as $10 monthly credits and can be used for both U.S. rideshare and meal delivery services. Enrollment is required, and terms apply. To avail of the Uber Cash benefit, the Gold Card must be added to the Uber app. Additionally, enjoy other dining credits, which can help offset the annual membership cost for families who frequently utilize these services.

Furthermore, seizing the generous welcome offer can significantly contribute towards planning your next family vacation. Dive into our comprehensive review of the American Express® Gold Card to explore its myriad benefits and costs in detail.

2. Chase Ultimate Rewards Credit Cards

Chase offers a selection of credit cards that allow you to accumulate Ultimate Rewards points. These include:

• Chase Sapphire Reserve® Card

• Chase Sapphire Preferred® Card

• Chase Freedom Flex℠ Card

• Chase Freedom Unlimited® Card

It’s important to note that although some of these cards are promoted as cash-back options, they essentially reward you with Ultimate Rewards points.

Similar to Amex Membership Rewards, certain Chase cards offer bonus points for specific spending categories. Therefore, it’s essential to assess your spending habits to determine which card aligns best with your needs.

Let’s delve into some of the Chase cards that provide bonus points, aiding in the accumulation of additional rewards through everyday expenditures.

2.1 Chase Sapphire Preferred® Review

• Rating: 5/5 stars

• APR: 21.49% - 28.49% (Variable)

• Annual Fee: $95

• Sign-Up Bonus: 75,000 Chase Ultimate Rewards Points

The Chase Sapphire Preferred® Card is widely regarded as one of the premier travel rewards credit cards. This card helps cardholders accumulate points quickly by offering accelerated rewards in popular spending categories such as travel and dining.

Cardholders can enjoy valuable perks like a $50 Annual Chase Travel Hotel Credit, a 10% anniversary point boost, and access to the Chase Travel℠ portal for booking travel arrangements.

New cardmembers can earn an impressive 75,000 bonus points after spending $4,000 on their credit card within the first three months of account opening. This sign-up bonus is worth over $900 when redeemed for travel reservations booked through Chase Travel℠, and potentially even more when transferred to airline and hotel partners.

2.2 Chase Freedom Unlimited® Review

• Rating: 4.5/5 stars

• APR: Variable, ranging from 20.49% to 29.24%

• Annual Fee: $0

• Sign-Up Bonus: Additional 1.5% Cash Back

The Chase Freedom Unlimited® stands out as an exceptional all-purpose credit card that doesn’t burden you with an annual fee. This cash-back card offers a generous rewards structure: 5% cash back on travel arrangements made through Chase Travel, 3% cash back at drugstores, 3% cash back on dining (including takeout and eligible delivery services), and a flat-rate 1.5% cash back on all other purchases. Notably, there are no rotating categories to monitor, nor are there any limits on earnings or restricted purchase categories.

Furthermore, new cardholders have the opportunity to take advantage of a special promotion, earning an additional 1.5% cash back on all purchases made within the first year of card membership (up to $20,000 spent). This effectively elevates the potential earning capability of the card to 6.5% during this promotional period. With consistent use, you could accumulate enough cash back to rival some of the most enticing sign-up bonuses currently available in the market.

Redeeming Rewards

While both Amex points and Chase points offer redemption options, their respective programs diverge in terms of value. Generally, Chase edges out American Express in terms of redemption rates.

Let’s dissect the redemption options for Membership Rewards and Ultimate Rewards and assess their per-point value:

1. Amex Membership Rewards

• Booking Travel: Up to 1 cent per point

• Cash Back: Not Available

• Statement Credits: 0.6 cents per point

• Online Shopping at Select Merchants: Up to 0.7 cents per point

• Gift Cards: Up to 1 cent per point

2. Chase Ultimate Rewards

• Booking Travel: Up to 1.5 cents per point

• Cash Back: 1 cent per point

• Statement Credits: Up to 1.5 cents per point

• Online Shopping at Select Merchants: 0.8 cents per point

• Gift Cards: Up to 1 cent per point

It’s important to note that Chase offers variable valuations depending on your card. For example, the Chase Sapphire Reserve grants 1.5 cents per point on travel bookings made through Chase and on select spending categories for statement credits. Conversely, the Chase Sapphire Preferred offers 1.25 cents per point on these types of redemptions.

American Express provides a similar perk with the Business Platinum Card® from American Express. When booking flights with points through Amex Travel, you can receive 35% of your points back, with a yearly maximum of 1,000,000 points.

In Conclusion

Both Chase Ultimate Rewards and Amex Membership Rewards hold substantial value for cardholders. Specific cards within each program can yield significant benefits tailored to your spending patterns and travel aspirations.