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Editor’s note: This is a recurring post, regularly updated with new information and offers.  

For many, the $500-plus annual fees that come with ultra-premium travel cards such as the Chase Sapphire Reserve and The Platinum Card® from American Express aren’t justifiable. Unless you’re traveling somewhat regularly and utilizing the full lineup of perks and credits, it may not be worth adding those cards to your wallet.

However, both Chase and Amex have excellent travel cards that fall under their premium versions — the Chase Sapphire Preferred Card and the American Express® Gold Card.

While both of these cards act as sister cards to their luxury counterparts, there are many differences between them. Today, we’re walking through a side-by-side comparison of these cards to help you determine which is right for you — or whether both deserve spots in your wallet.

Sapphire Preferred vs. Amex Gold comparison

Here’s a quick overview that compares the key perks on the two cards (note that enrollment is required for select benefits):

*Point valuations are calculated by TPG, not the issuer.
**Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for details. Policies are underwritten by New Hampshire Insurance Company, an AIG Company.

Sapphire Preferred vs. Amex Gold welcome offer

The Chase Sapphire Preferred offers a compelling sign-up bonus for first-time applicants. You’ll earn 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. TPG values Ultimate Rewards points at an even 2 cents each, making this bonus worth $1,200. At the very least, you’re guaranteed to get $750 of “free travel” if you redeem directly through the Chase portal — but more on that later.

The Amex Gold Card currently has a nearly identical welcome offer of 60,000 Membership Rewards points after you spend $4,000 in purchases in the first six months of account opening, also worth $1,200, based on TPG’s valuations.

While the number of points you’ll earn is identical, keep in mind that you have an additional three months to earn the Amex Gold’s offer compared to the Sapphire Preferred. Plus, you could be targeted for a higher welcome offer on the Amex Gold through the CardMatch tool or through a referral link (offers subject to change at any time).

Winner: Amex Gold, which gives you twice as long to earn the bonus. Plus, there’s the potential to earn an even higher bonus through the CardMatch tool.

Related: American Express Gold Card review

Sapphire Preferred vs. Amex Gold benefits

In exchange for a $95 annual fee, the Chase Sapphire Preferred offers many travel perks, including a $50 annual hotel credit for bookings through Chase Travel and a 10% points bonus on your cardmember anniversary. You’ll also gain access to Chase Offers with the card.

However, most of the other benefits fall into the category of things you hope you don’t have to use. These include protections like rental car insurance, trip delay and cancellation insurance and baggage loss and delay insurance. These are a great safety net while you travel, but they don’t do much to enhance your day-to-day life when everything is going according to plan.

For more than double the Sapphire Preferred’s annual fee ($250 vs. $95), the Amex Gold offers a number of excellent perks (enrollment is required for select benefits):

• Up to $120 annual dining statement credit: Earn up to $10 in statement credits monthly when you pay with the Amex Gold Card at participating dining partners, including Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar and select Shake Shack locations
• Up to $120 in annual Uber Cash: Earn up to $10 in Uber Cash monthly for Uber Eats and Uber rides in the U.S. You must add the card to the Uber app to receive the Uber Cash benefit. This perk is a monthly statement credit similar to the Uber Cash on the Amex Platinum.
• Up to $100 in hotel credits: Cardmembers who use their card to book a stay of two nights or more through Amex’s The Hotel Collection receive a $100 on-site credit for qualifying activities. Depending on the property, this could include dining, spa treatments or other activities.

Cardholders will also receive the following travel protections:

• Baggage insurance: If your luggage is lost, stolen or damaged when you’re traveling with a common carrier and you purchased your ticket with the Amex Gold, you’ll be eligible for up to $1,250 in coverage for carry-on baggage and up to $500 for checked baggage. For New York State residents, there is a $10,000 aggregate maximum limit for all covered persons per covered trip. Underwritten by Amex Assurance Company.**
• Trip delay reimbursement: If you purchase your trip with the card and your travel is delayed more than 12 hours because of a covered reason, you’ll be eligible for reimbursement of up to $300 for eligible expenses such as meals, lodging and toiletries per covered trip. You are allowed up to two claims per eligible card account every 12 months. Underwritten by New Hampshire Insurance Company, an AIG Company.**
• Rental car insurance: Use your card to pay for an entire car rental and decline the agency’s collision damage waiver and you will receive secondary coverage for damage or theft. There are exclusions to what types of rentals are covered, which regions or territories coverage is available in and other conditions to be aware of, so be sure to read your benefits guide. Underwritten by Amex Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.**
  **Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for details. Policies are underwritten by New Hampshire Insurance Company, an AIG Company.

Another great benefit of the Amex Gold Card is the ability to access Amex Offers, which offer valuable cash back or bonus points on purchases you already planned to make. While many Amex cards get you access to Amex Offers, some of the most rewarding offers are highly targeted, so having another card couldn’t hurt. And these offers tend to be more widespread than the similar offering from Chase.

Winner: Tie. While the Sapphire Preferred is a good value for the price, the Amex Gold Card costs less out of pocket if you can make the most of its Uber and dining credits.

Earning points on the Sapphire Preferred vs. Amex Gold

The Chase Sapphire Preferred offers useful bonus categories, but the real highlight isn’t just the categories themselves but how broadly they’re defined. With it, you’ll earn 3 points per dollar on a few notable categories:

• Dining, including not just restaurants but many bars, breweries, food trucks and even meal delivery services
• Select streaming services, including Apple, Disney+, HBO Max, Netflix, SiriusXM, Spotify, and YouTube TV
• Online grocery stores, which includes Instacart and many meal delivery services but excludes Target, Walmart and wholesale clubs

You’ll also receive 2 points per dollar on purchases Chase categorizes as travel, which includes obvious ones like hotels, airfare and rental cards. However, this also extends to things like Uber, parking meters and limousine rentals. This jumps to 5 points per dollar for travel booked using the Chase Travel portal (excluding hotel reservations that qualify for the $50 credit).

Finally, the Sapphire Preferred also earns 5 points per dollar on Lyft through March 2025.

These are solid rates on a wide variety of purchases. However, the Amex Gold may shine brighter when it comes to its earning structure:

• 4 points per dollar at restaurants worldwide
• 4 points per dollar at U.S. supermarkets (up to $25,000 in spending per calendar year, then 1 point per dollar)
• 3 points per dollar on flights booked directly with the airline or through Amex Travel
• Terms apply

These are more generous rates than the Sapphire Preferred, but the categories are a bit more restrictive. In addition to the $25,000 cap each calendar year on the supermarket bonus, it only applies in the U.S. In addition, you’ll only earn 3 points per dollar spent on flights, whereas the Sapphire Preferred’s bonus

Winner: Amex Gold. It’s important to have cards with strong bonus categories in your lineup, especially for common purchases like groceries and dining. The fact that the Amex Gold also earns at a higher rate puts this card on top, even if the category definitions are more limited than the Sapphire Preferred.

Related: Why the Amex Gold is the perfect ‘in-between’ credit card

Redeeming points on the Sapphire Preferred vs. Amex Gold

Both of these cards are similar in that they earn some of the most valuable transferable points currencies around. Chase Ultimate Rewards points are a fan favorite, thanks to 14 valuable hotel and airline transfer partners, including United, Southwest, Hyatt and British Airways.

Meanwhile, American Express Membership Rewards has its own suite of 21 valuable partners. This includes some that overlap with Chase — like Air Canada Aeroplan and British Airways. However, some are different, including Delta SkyMiles, Avianca LifeMiles and ANA Mileage Club.

Winner: Tie.

Transferring points on the Sapphire Preferred vs. Amex Gold

TPG values both loyalty currencies at 2 cents each, but your travel habits might make one currency better than the other.

For example, if you live in a Delta hub, you might get more value out of transferring your Membership Rewards points to Delta SkyMiles, while those who have a coveted Southwest Companion Pass can get some incredible value by transferring Chase Ultimate Rewards to Southwest Rapid Rewards.

If you’re not interested in transfers, both cards offer an option to pay with points when booking through their travel portals. However, the Sapphire Preferred has an advantage in this case, as you’ll get a 25% bonus when redeeming points for travel. Amex points used in this way are only worth 1 cent apiece for flights — and less than that for hotels.

Winner: Tie.

Related: Ultimate guide to application restrictions

Should I get the Sapphire Preferred or Amex Gold?

Both the Chase Sapphire Preferred and Amex Gold cards are excellent mid-tier cards, offering terrific earning rates, solid benefits and affordable annual fees. Which card is better for you depends on your spending habits, but remember that it doesn’t have to be a “this or that” decision; there’s room for both of these cards in a well-developed points strategy.

Bottom line

The Sapphire Preferred and Amex Gold are two of the most valuable mid-tier cards on the market right now. Both can provide excellent value, and the question of one card versus another largely depends on how you derive value from your credit cards. However, they’re actually one of our top card pairings, so it might be worth having both in your wallet.

To learn more, read our full reviews of the Chase Sapphire Preferred and Amex Gold.

Apply here: Chase Sapphire Preferred

Apply here: American Express Gold

For rates and fees of the Amex Gold Card, click here.

Additional reporting by Ethan Steinberg, Emily Thompson and Madison Blancaflor.