Amex vs. Chase Points: Which Rewards Program Wins?

Have you ever stared at a pile of credit card offers, wondering which one will actually make your travel dreams come true? I’ve been there, flipping through glossy brochures, trying to decode the fine print on rewards programs. American Express Membership Rewards and Chase Ultimate Rewards are two heavyweights in the world of flexible travel points, but choosing between them feels like picking a favorite child. Each program boasts unique strengths, from luxury travel perks to straightforward cash-back options. In this deep dive, I’ll break down the differences, share some personal insights, and help you decide which program aligns with your wallet and wanderlust.

Why Amex and Chase Points Matter

Flexible travel rewards programs like Amex and Chase are game-changers for savvy spenders. They let you earn points that can be redeemed for flights, hotels, or even statement credits, giving you the freedom to tailor your rewards to your lifestyle. But not all points are created equal. The value of your points depends on how you redeem them, the cards you hold, and the transfer partners available. Let’s explore the key areas where these programs shine—and where they fall short.

Cards That Earn These Points

Both Amex and Chase offer a range of credit cards that earn their respective points, catering to everyone from jet-setters to small business owners. The cards vary in annual fees, perks, and earning potential, so picking the right one is crucial.

Premium Cards are the crown jewels of both programs. Take the Platinum Card from American Express, with its hefty $695 annual fee. It’s a luxury powerhouse, offering access to over 1,400 airport lounges, including Centurion Lounges, and up to $200 in annual hotel credits. On the Chase side, the Chase Sapphire Reserve ($550 annual fee) counters with a $300 travel credit and priority access to Sapphire Lounges. Both cards are packed with perks, but their high costs make them best for frequent travelers who can maximize those benefits.

Premium cards are like investing in a first-class ticket—you pay more upfront, but the experience can be worth it if you use every perk.

– Personal finance expert

For those who balk at sky-high fees, mid-tier cards offer a sweet spot. The Chase Sapphire Preferred Card ($95 annual fee) earns flexible points and includes a $50 hotel credit, while the American Express Gold Card ($325 annual fee) shines for foodies with 4X points at restaurants and U.S. supermarkets. There’s also the American Express Green Card ($150 annual fee), perfect for travelers who want solid rewards without breaking the bank.

Business owners aren’t left out. The Amex Business Gold Card and Ink Business Preferred Credit Card cater to entrepreneurs, offering bonus points in categories like advertising and travel. If you’re pinching pennies, Chase has an edge with no-annual-fee options like the Chase Freedom Unlimited, which can pair with other Chase cards to unlock transferrable points. Amex, unfortunately, doesn’t offer a no-fee card with transferrable points for new applicants.

Which Points Are Easier to Earn?

Earning points is where the rubber meets the road. Amex often tempts new cardholders with jaw-dropping welcome bonuses—sometimes 80,000 points or more—but they come with steep spending requirements, like $8,000 in six months. I’ve seen friends stress over hitting these targets, and it’s not always worth the hustle unless you’re a big spender.

Chase, on the other hand, keeps things more approachable. Their welcome bonuses, like 60,000 points for spending $5,000 in three months, feel less daunting. Plus, Chase cards often earn more points in everyday categories like dining or groceries, making it easier to rack up rewards without changing your spending habits.

• Amex Strengths: Massive welcome bonuses, especially for business cards.
• Chase Strengths: Lower spending thresholds and broader bonus categories.
• My Take: If you’re a high roller, Amex bonuses are hard to beat. For the rest of us, Chase feels more practical.

Transfer Partners: Who Has the Edge?

One of the biggest perks of flexible points is the ability to transfer them to airline and hotel loyalty programs, often at a 1:1 ratio. This can unlock incredible value, but the quality of transfer partners matters.

Amex boasts 21 transfer partners, including heavy-hitters like Air Canada Aeroplan, ANA Mileage Club, and Marriott Bonvoy. Chase has 14 partners, such as United MileagePlus, World of Hyatt, and Southwest Rapid Rewards. While Amex has more options, quantity isn’t everything. Chase’s partners are often more relevant for U.S.-based travelers, especially with programs like Hyatt, which offers exceptional value.

In my experience, Amex’s broader list gives you more flexibility for international travel, while Chase’s curated partners are easier to navigate for domestic trips. If you’re a points geek who loves hunting for sweet spots, Amex might be your jam. Otherwise, Chase keeps it simple.

Domestic Flight Redemptions

Booking domestic flights with points can be a mixed bag. Both programs let you transfer points to domestic airlines, but the process isn’t always straightforward.

Chase has a slight edge here. You can transfer points directly to United, Southwest, and JetBlue at a 1:1 ratio, with no extra fees. Amex partners with Delta and Hawaiian Airlines at 1:1, but JetBlue transfers are less favorable (5:4 ratio), and Amex charges an excise tax on domestic airline transfers. If you want to book with American Airlines using Amex points, you’ll need to transfer to a partner like Qantas Frequent Flyer, which limits your options and complicates changes.

Chase’s direct transfers to domestic airlines make booking a breeze, especially for spontaneous trips.

For most folks, Chase’s simplicity wins. Southwest’s extensive domestic network and United’s hub cities make it easier to find flights that fit your schedule. Amex’s Delta partnership is solid, but the extra fees and hoops for other airlines can be a hassle.

International Flight Redemptions

If you’re dreaming of sipping champagne in business class on a transatlantic flight, international redemptions are where points shine. This is Amex’s time to flex.

Amex’s exclusive partners like ANA Mileage Club and Avianca LifeMiles offer incredible value for international flights. For example, you can book a round-trip business-class flight to Europe through ANA for just 100,000 miles, a steal compared to other programs. Avianca also skips fuel surcharges, saving you hundreds in fees. Chase shares some partners with Amex, like Air France/KLM Flying Blue and Singapore KrisFlyer, but lacks these game-changing options.

1. Amex Advantage: More partners for premium international awards.
2. Chase Advantage: Simpler transfers for shared partners.
3. Best Use: Amex for luxury international flights, Chase for flexibility.

I’ve always been a bit jealous of friends who score first-class seats with Amex points. The value is unmatched if you’re willing to plan ahead and navigate transfer partners. Chase is still great, but Amex takes the crown for high-end international travel.

Hotel Redemptions

Hotels are another major redemption category, and this is where Chase pulls ahead. Both programs transfer to Marriott Bonvoy at 1:1, but Chase’s partnership with World of Hyatt is a standout. Hyatt’s award chart caps top-tier hotels at 35,000–45,000 points per night, while other programs like Hilton can charge double or triple that for similar properties.

Amex partners with Hilton Honors (1:2 ratio) and Choice Privileges (1:1), but these programs often deliver less value per point. Hyatt’s smaller footprint (1,300 locations vs. 6,000+ for Marriott or Hilton) is a downside, but Chase’s travel portal offers a workaround. With the Chase Sapphire Reserve, points are worth 1.5 cents each when booking hotels through Chase Travel, often making it cheaper than transferring to a hotel program.

Here’s a quick example: A night at a Marriott hotel might cost 48,000 points or $265. Through Chase Travel, the same room could cost just 18,600 points at 1.5 cents per point. Amex’s travel portal, by contrast, offers only 0.7 cents per point for hotels, making it less competitive.

Travel Portal Bookings

Booking travel directly through a card’s portal is a popular option for those who want simplicity. Chase dominates here. Points redeemed through Chase Travel are worth 1.25 cents each with the Sapphire Preferred or 1.5 cents with the Sapphire Reserve. Amex Travel, however, caps flight redemptions at 1 cent per point and hotels at 0.7 cents.

This gap makes a big difference. A $500 flight would cost 40,000 Chase points with the Sapphire Preferred but 50,000 Amex points. For hotels, the difference is even starker. Chase’s flexibility to combine points across cards also means you can maximize value even with no-fee cards like the Freedom Unlimited.

Chase’s travel portal is like a cheat code for getting more value from your points.

Cash Back and Other Redemptions

Sometimes, you just want cold, hard cash. Chase Ultimate Rewards points redeem at 1 cent each for statement credits or direct deposits, with the same value for gift cards. Amex points, however, are worth only 0.6 cents for statement credits, though select gift cards can hit 1 cent per point.

Chase’s consistency makes it the better choice for non-travel redemptions. I’ve used Chase points for gift cards during the holidays, especially when they run 10–15% off sales. Amex’s lower cash-back value feels like a missed opportunity, especially for a program known for luxury.

Which Program Is Right for You?

Choosing between Amex and Chase comes down to your spending habits, travel goals, and tolerance for complexity. Here’s a quick breakdown to help you decide:

• Choose Amex if: You love luxury travel, chase big welcome bonuses, or plan international business-class flights.
• Choose Chase if: You want simpler redemptions, lower-fee cards, or value domestic travel and hotels.
• Consider Both if: You’re a points maximizer who can juggle multiple cards to cover all bases.

Personally, I lean toward Chase for its ease of use and versatility, but I can’t deny Amex’s allure for premium redemptions. If I were booking a once-in-a-lifetime trip to Asia in first class, I’d be all over Amex’s ANA partnership. For everyday rewards, though, Chase feels like the reliable friend who always delivers.

Both Amex Membership Rewards and Chase Ultimate Rewards are top-tier programs with something for everyone. The best choice depends on how you spend, how you travel, and how much effort you’re willing to put into mastering the points game. Whichever you pick, you’re on your way to turning everyday purchases into extraordinary experiences. So, what’s your next trip going to be?