Amex vs Chase Travel Rewards: Complete 2025 Comparison Guide

You're ready to dive into travel rewards, but you've hit a fundamental question: American Express or Chase? These two financial giants dominate the travel rewards landscape, each offering powerful credit card ecosystems with valuable points, extensive transfer partners, and premium benefits. But which one is better for you?

The truth is, there's no universal answer. The best choice depends on your travel patterns, spending habits, redemption goals, and how much you value specific benefits. An international business traveler who values premium lounge access might choose differently than a domestic leisure traveler focused on hotel redemptions.

This comprehensive comparison breaks down every aspect of Amex vs Chase to help you make an informed decision. We'll examine earning rates, transfer partners, annual fees, benefits, redemption options, and real-world value to determine which ecosystem aligns with your travel goals.

Overview: Understanding the Two Ecosystems

Before diving into specific comparisons, it's important to understand what each ecosystem offers at a high level.

American Express (Amex) Ecosystem

American Express positions itself as the premium travel rewards provider, focusing on high-end benefits, exclusive experiences, and comprehensive service. The Membership Rewards program is designed for travelers who value luxury, premium lounge access, and extensive international transfer partners.

Core Strengths:

American Express excels at premium benefits and services, including exclusive Centurion Lounges and concierge services that provide exceptional value for frequent travelers. The program offers excellent transfer partners, especially for international travel, with strong partnerships including ANA, Singapore Airlines, and Air France/KLM that provide exceptional value for premium cabin redemptions. Strong earning rates on dining and groceries make Amex cards particularly valuable for travelers who spend heavily in these categories, with the Gold Card offering 4x points on both dining and U.S. supermarkets. Comprehensive travel insurance and protections provide peace of mind, while premium customer service ensures issues are resolved quickly and effectively.

Potential Weaknesses:

Higher annual fees across the board make Amex cards more expensive than Chase alternatives, requiring careful value calculation to justify costs. Less acceptance internationally compared to Visa (though improving) can create challenges in some locations, though this is becoming less of an issue. More complex benefit structures requiring active management mean you need to track credits and benefits to maximize value, which can be time-consuming. Credits require active use to maximize value, meaning you need to remember to use monthly credits like Uber and dining credits, or you lose value.

Chase Ecosystem

Chase positions itself as the accessible premium option, offering strong value with simpler benefit structures. The Ultimate Rewards program excels at domestic travel, hotel redemptions, and straightforward value propositions that are easier to understand and maximize.

Core Strengths:

Chase excels at excellent transfer partners for domestic travel, with strong partnerships including United, Southwest, and Hyatt that provide exceptional value for U.S.-based travelers. The program offers a more straightforward value proposition that's easier to understand and maximize, making it ideal for beginners to travel rewards. Better acceptance worldwide through the Visa network ensures you can use cards anywhere, eliminating acceptance concerns. Strong sign-up bonuses provide excellent value for new cardholders, while automatic travel credits that are easier to use than Amex's monthly credits reduce the need for active management.

Potential Weaknesses:

The 5/24 rule limits card applications by preventing approval if you've opened 5 or more credit cards in the last 24 months, which can restrict your ability to earn multiple Chase bonuses. Fewer premium benefits than Amex means less exclusive access to premium lounges and services, though Chase still provides excellent value. Less premium lounge access with no Centurion equivalent means you won't get the same level of exclusive lounge access, though Priority Pass provides good coverage. Fewer high-end card options mean less variety in premium card choices compared to Amex's extensive premium lineup.

Card-by-Card Comparison

The best way to understand the differences is to compare specific cards head-to-head. Here's how the major offerings stack up.

Entry-Level Cards: Amex Gold vs Chase Sapphire Preferred

These cards represent the entry point into each ecosystem's premium benefits, making them excellent choices for travelers ready to step up from basic rewards cards.

American Express Gold Card

Annual Fee: $250

Sign-Up Bonus: 60,000-90,000 Membership Rewards points (varies by offer and timing)

Earning Structure:

• 4x points on dining worldwide (restaurants, takeout, delivery)
• 4x points on U.S. supermarkets (up to $25,000 per year, then 1x)
• 3x points on flights booked directly with airlines or through Amex Travel
• 1x points on all other purchases

Key Credits:

• $120 annual Uber credit ($10 per month)
• $120 annual dining credit (select restaurants, $10 per month)

Transfer Partners: 20+ airlines and hotels including Delta, British Airways, ANA, Singapore Airlines, Air France/KLM, Emirates, Hilton, and Marriott

Best For: People who spend heavily on dining and groceries, travelers who value international transfer partners, those who can use the monthly credits

Chase Sapphire Preferred

Annual Fee: $95

Sign-Up Bonus: 60,000 Ultimate Rewards points (after spending $4,000 in 3 months)

Earning Structure:

• 2x points on travel purchases (flights, hotels, car rentals, etc.)
• 2x points on dining worldwide
• 1x points on all other purchases

Key Credits: None

Transfer Partners: 14 airlines and hotels including United, Southwest, Hyatt, Marriott, British Airways, Singapore Airlines, Air France/KLM, and more

Redemption Bonus: Points worth 1.25 cents each when redeemed through Chase Travel portal

Best For: Beginners to travel rewards, travelers who want lower annual fees, people who value domestic transfer partners (United, Southwest), those who prefer simplicity

Head-to-Head Comparison

Earning Potential:

• Dining: Amex Gold wins (4x vs 2x)
• Groceries: Amex Gold wins (4x vs 1x)
• Travel: Chase Preferred wins (2x vs 1x, though Amex Gold offers 3x on flights)
• Everything Else: Tie (1x on both)

Value Analysis:

• Amex Gold: If you spend $500/month on dining = 2,000 points/month = $20-40 value depending on redemption. Annual value: $240-480. Net cost after credits: $10 if you use all credits.
• Chase Preferred: If you spend $500/month on travel/dining = 1,000 points/month = $12.50-20 value. Annual value: $150-240. Net cost: $95.

Winner: Depends on spending patterns. Amex Gold wins for dining/grocery heavy spenders. Chase Preferred wins for travel-focused spenders or those who prefer lower fees.

Premium Cards: Amex Platinum vs Chase Sapphire Reserve

These are the flagship cards of each ecosystem, offering the most comprehensive benefits and highest annual fees.

American Express Platinum Card

Annual Fee: $695

Sign-Up Bonus: 80,000-150,000 Membership Rewards points (varies significantly by offer)

Earning Structure:

• 5x points on flights booked directly with airlines or through Amex Travel (up to $500,000 per year)
• 5x points on prepaid hotels booked through Amex Travel
• 1x points on all other purchases

Key Credits:

• $200 annual airline fee credit (must select one airline)
• $200 annual Uber credit ($15/month + $20 in December)
• $189 Clear credit (TSA PreCheck alternative)
• $240 digital entertainment credit ($20/month for select services)
• $100 Saks Fifth Avenue credit ($50 twice yearly)

Lounge Access:

• Centurion Lounges (premium experience, expanding network)
• Priority Pass Select (cardholder only, no guests)
• Delta Sky Club (when flying Delta)
• Escape Lounges
• Lufthansa Lounges (when flying Lufthansa Group airlines)

Transfer Partners: 20+ airlines and hotels

Best For: Frequent travelers who can use all credits, people who value premium lounge access, international travelers, those who book through Amex Travel

Chase Sapphire Reserve

Annual Fee: $550

Sign-Up Bonus: 60,000 Ultimate Rewards points (after spending $4,000 in 3 months)

Earning Structure:

• 3x points on travel purchases (broad definition)
• 3x points on dining worldwide
• 1x points on all other purchases

Key Credits:

• $300 annual travel credit (automatic, any travel purchase)

Lounge Access:

• Priority Pass Select (includes guests)
• Restaurant credits ($28 per person at select airport restaurants)
• Limited Sapphire Lounges (new, expanding)

Transfer Partners: 14 airlines and hotels

Redemption Bonus: Points worth 1.5 cents each when redeemed through Chase Travel portal

Best For: Travelers who want automatic travel credit, people who spend heavily on travel and dining, those who value Priority Pass flexibility, travelers who prefer simplicity

Head-to-Head Comparison

Earning Potential:

• Flights: Amex Platinum wins (5x vs 3x, but only through Amex Travel or direct)
• Hotels: Amex Platinum wins (5x on prepaid hotels through Amex Travel vs 3x on Chase)
• Dining: Chase Reserve wins (3x vs 1x)
• General Travel: Chase Reserve wins (3x on all travel vs 1x on Amex, except flights/hotels)

Value Analysis:

• Amex Platinum: Net cost can be $0 to -$134 if you use all credits. Requires active credit management. Best for frequent travelers who can maximize all benefits.
• Chase Reserve: Net cost is $250 after automatic $300 travel credit. Simpler value proposition. Best for regular travelers who want straightforward benefits.

Winner: Depends on priorities. Amex Platinum wins for premium benefits and lounge access. Chase Reserve wins for simplicity and automatic credits.

Transfer Partners Comparison

Transfer partners are where the real value lies in both programs. Here's how they compare across different travel scenarios.

Domestic Airlines

Chase Advantages:

• United Airlines: Excellent domestic coverage, Star Alliance access, good availability
• Southwest: Great for domestic travel, no blackout dates, companion pass potential
• JetBlue: Good East Coast coverage, reasonable award pricing

Amex Advantages:

• Delta: Strong domestic network, SkyTeam access, but dynamic pricing can be expensive
• JetBlue: Also available, same benefits

Winner for Domestic Travel: Chase - United and Southwest are hard to beat for domestic U.S. travel, offering better availability and more reasonable award pricing than Delta's dynamic pricing model.

International Airlines

Chase Advantages:

• United: Star Alliance access for international travel
• British Airways: Good for Europe, distance-based pricing
• Singapore Airlines: Excellent premium cabins, good availability
• Air France/KLM: Good European coverage, reasonable pricing
• Virgin Atlantic: Good for transatlantic travel

Amex Advantages:

• British Airways: Also available, same benefits
• ANA: Excellent for Japan and Asia, great business class availability
• Singapore Airlines: Also available, same benefits
• Air France/KLM: Also available, same benefits
• Delta: SkyTeam access for international travel
• Emirates: Excellent premium experience, good availability
• Qantas: Good for Australia and Asia-Pacific
• Virgin Atlantic: Also available
• Etihad: Good Middle East coverage
• Cathay Pacific: Excellent for Asia

Winner for International Travel: Amex - More premium international partners, better options for Asia-Pacific and Middle East, more flexibility for international redemptions.

Hotels

Chase Advantages:

• Hyatt: Best hotel transfer partner overall, excellent value, reasonable award pricing
• Marriott: Also available, large program
• IHG: Also available, good value options

Amex Advantages:

• Marriott: Also available
• Hilton: Good option, though transfer ratio is 1:2 (1 Amex point = 2 Hilton points)
• IHG: Also available

Winner for Hotels: Chase - Hyatt is widely considered the best hotel transfer partner, offering exceptional value and reasonable award pricing. While Amex offers Hilton and Marriott, Hyatt's value proposition is superior.

Earning Rates Comparison

How quickly you accumulate points depends on where you spend your money. Here's how earning rates compare across categories.

Travel Purchases

Amex Platinum:

• 5x on flights (booked directly or through Amex Travel)
• 5x on prepaid hotels (Amex Travel only)
• 1x on other travel

Amex Gold:

• 3x on flights
• 1x on other travel

Chase Reserve:

• 3x on all travel (broad definition)

Chase Preferred:

• 2x on all travel

Winner: Amex Platinum for flights and prepaid hotels through Amex Travel (5x), but Chase Reserve wins for general travel spending (3x on everything vs 1x on Amex Platinum for non-flight travel).

Dining

Amex Gold:

• 4x on dining worldwide

Amex Platinum:

• 1x on dining (but has dining credits)

Chase Reserve:

• 3x on dining

Chase Preferred:

• 2x on dining

Winner: Amex Gold (4x) clearly wins for dining spending, making it the best card for people who dine out frequently.

Groceries

Amex Gold:

• 4x on U.S. supermarkets (up to $25,000/year)

Chase Cards:

• 1x on groceries (no grocery bonus)

Winner: Amex Gold is the only option with grocery bonuses, making it valuable for families or people who cook at home.

Everything Else

Amex Cards:

• 1x on non-bonus spending

Chase Cards:

• 1x on non-bonus spending
• Chase Freedom Unlimited offers 1.5x on everything (but different program)

Winner: Tie - Both offer 1x on non-bonus spending, though Chase has the Freedom Unlimited option for 1.5x.

Benefits Comparison

Beyond earning and redemption, the benefits each ecosystem offers can significantly impact value.

Lounge Access

Amex Platinum:

• Centurion Lounges (premium experience, best airport lounges)
• Priority Pass Select (cardholder only)
• Delta Sky Club (when flying Delta)
• Escape Lounges
• Lufthansa Lounges (when flying Lufthansa Group)

Chase Reserve:

• Priority Pass Select (includes guests)
• Restaurant credits ($28 per person)
• Limited Sapphire Lounges (new program)

Winner: Amex Platinum - Centurion Lounges are unmatched in quality, though Chase Reserve's guest access and restaurant credits provide more flexibility.

Travel Credits

Amex Platinum:

• $200 airline fee credit (must select one airline, restrictions apply)
• $200 Uber credit ($15/month + $20 December)
• Must actively use credits

Chase Reserve:

• $300 travel credit (automatic, any travel purchase)
• No action required

Winner: Chase Reserve - Automatic credit is easier to use and more valuable for most travelers.

Other Benefits

Amex Platinum:

• $189 Clear credit
• $240 digital entertainment credit
• $100 Saks credit
• TSA PreCheck/Global Entry credit
• Hotel status (Hilton Gold, Marriott Gold)
• Rental car status
• Premium customer service
• Concierge service

Chase Reserve:

• TSA PreCheck/Global Entry credit
• Travel insurance
• Purchase protection
• No hotel/rental car status

Winner: Amex Platinum - More comprehensive benefits, though many require active use to provide value.

Annual Fees Comparison

Understanding true costs requires calculating net fees after credits.

Entry Level

Amex Gold: $250 annual fee, but $240 in credits = $10 net cost (if you use all credits)

Chase Preferred: $95 annual fee, no credits = $95 net cost

Winner: Amex Gold has lower net cost if you use credits, but Chase Preferred has lower sticker price.

Premium

Amex Platinum: $695 annual fee, but $829 in credits = -$134 net cost (if you use all credits, card pays you)

Chase Reserve: $550 annual fee, but $300 credit = $250 net cost

Winner: Amex Platinum can have negative net cost, but Chase Reserve is simpler and more predictable.

Application Rules and Strategy

Both ecosystems have rules that affect how you should approach card applications.

Chase 5/24 Rule

The Rule: Chase won't approve you for most cards if you've opened 5+ credit cards from any issuer in the last 24 months.

Impact:

• Must be strategic about card applications
• Should prioritize Chase cards early in your credit card journey
• Limits ability to churn cards from multiple issuers
• Affects long-term strategy

Strategy: Apply for Chase cards first, then move to other issuers like Amex.

Amex Once Per Lifetime Rule

The Rule: Can only earn sign-up bonus on each Amex card once per lifetime.

Impact:

• Can't reapply for same card bonus later
• Must choose timing carefully
• Less flexibility than Chase (which has 24-48 month rules)
• Makes each application decision more permanent

Strategy: Wait for best offers, don't rush applications, maximize each opportunity.

Winner: Chase - The 5/24 rule is easier to work around than the lifetime rule, and you can potentially earn Chase bonuses multiple times (after 24-48 months).

Redemption Options Comparison

How you can use your points affects their value significantly.

Fixed Value Redemptions

Amex:

• 1 cent per point through Amex Travel
• Can cover any travel purchase

Chase:

• 1.25 cents per point (Preferred) or 1.5 cents (Reserve) through Chase Travel
• Can cover any travel purchase

Winner: Chase - Higher fixed value (especially with Reserve at 1.5 cents), making fixed redemptions more valuable.

Transfer Partners

Amex:

• 20+ transfer partners
• Usually 1:1 transfers
• Some partners offer transfer bonuses periodically

Chase:

• 14 transfer partners
• Usually 1:1 transfers
• Some partners offer transfer bonuses periodically

Winner: Tie - Both offer good transfer options, though Amex has more partners while Chase has better domestic options.

Point Value

Amex Points:

• Typically worth 1-2 cents each when transferred
• Can be very valuable for premium redemptions (international business/first class)
• Best value: International premium cabins, luxury hotels

Chase Points:

• Typically worth 1-2 cents each when transferred
• Can be very valuable for Hyatt redemptions
• Best value: Hyatt hotels, United flights, domestic travel

Winner: Tie - Both offer excellent value when transferred strategically, with different sweet spots.

Which Is Better for You?

The best choice depends on your specific situation. Here's how to decide.

Choose Amex If:

1. You Value Premium Benefits

   • Want Centurion Lounge access
   • Value premium customer service
   • Want comprehensive benefits package
   • Appreciate luxury experiences

2. You Spend Heavily on Dining and Groceries

   • Amex Gold offers 4x on both categories
   • Can accumulate points quickly
   • Good for everyday spending

3. You Travel Internationally Frequently

   • Better international transfer partners
   • More premium airline options
   • Good for international redemptions
   • Strong Asia-Pacific and Middle East partners

4. You Can Use All Credits

   • Amex Platinum credits can offset fee significantly
   • Willing to actively manage credits
   • Can maximize value from multiple credits

5. You Want Premium Experience

   • Centurion Lounges are best available
   • Premium customer service
   • High-end benefits

Choose Chase If:

1. You Want Simplicity

   • Automatic travel credit
   • Straightforward benefits
   • Easier to understand and maximize
   • Less active management required

2. You Travel Domestically Primarily

   • United and Southwest are excellent
   • Better domestic coverage
   • Good for U.S. travel
   • More reasonable award pricing

3. You Value Hyatt Hotels

   • Hyatt is best hotel transfer partner
   • Excellent redemption value
   • Great for hotel stays
   • Reasonable award pricing

4. You Want Lower Fees

   • Chase cards generally have lower fees
   • Better value proposition
   • Easier to justify
   • Lower barrier to entry

5. You're Starting Out

   • Chase Preferred is great entry point
   • Lower barrier to entry
   • Good for beginners
   • Can upgrade later

Can You Have Both?

Yes! Many travelers benefit from having cards in both ecosystems to maximize benefits.

Strategy: Use Both Ecosystems

Optimal Setup:

• Amex Gold: Use for dining and groceries (4x)
• Chase Reserve: Use for travel (3x)
• Amex Platinum: Use for flights through portal (5x) and premium benefits
• Transfer points based on best redemption options

Benefits:

• Maximize earning in all categories
• Access to both transfer partner networks
• Best of both worlds
• More flexibility for redemptions

Considerations:

• Multiple annual fees
• More complex to manage
• Must track multiple cards
• Requires understanding both programs

The Bottom Line

Both Amex and Chase offer excellent travel rewards programs, but they excel in different areas:

Amex Wins For:

• Premium benefits and lounge access (Centurion Lounges)
• Dining and grocery spending (Amex Gold 4x)
• International travel redemptions
• Premium experience and service

Chase Wins For:

• Simplicity and automatic credits
• Domestic travel (United, Southwest)
• Hotel redemptions (Hyatt)
• Lower fees and better value

Best Strategy: Many travelers benefit from having both ecosystems. Start with Chase (due to 5/24 rule), then add Amex for premium benefits and category bonuses.

For Beginners: Start with Chase Sapphire Preferred for lower fee and simplicity.

For Frequent Travelers: Consider both - Amex Platinum for premium benefits, Chase Reserve for simplicity and Hyatt.

For Maximum Value: Use Amex Gold for dining/groceries, Chase Reserve for travel, and transfer points based on best redemption options.

The best choice depends on your spending patterns, travel goals, and preferences. Evaluate both options based on your specific situation, and don't be afraid to have cards from both ecosystems if it maximizes your rewards.

---

Last Verified: November 20, 2025
Last Updated: November 20, 2025

References:
[1] American Express. "Membership Rewards Program Terms." Last updated November 2025. https://www.americanexpress.com/us/credit-cards/rewards/membership-rewards
[2] Chase. "Ultimate Rewards Program Terms." Last updated November 2025. https://www.chase.com/personal/credit-cards/ultimate-rewards
[3] The Points Guy. "Amex vs Chase: Which Points Program Is Better?" Published October 2025.
[4] NerdWallet. "American Express vs Chase Credit Cards 2025." Published November 2025.
[5] Credit Karma. "Amex Membership Rewards vs Chase Ultimate Rewards Comparison." Published September 2025.