AmEx Gold vs. Chase Sapphire Preferred 2024: Gold Wins, If You Can Use Credits - NerdWallet (2024)

The big question: Which one is better?

The answer depends on your spending habits. For those who can take advantage of its rich credits, the American Express® Gold Card, which carries an annual fee of $250, generally comes out ahead (see rates and fees).

But if you can’t use those side perks, it's usually a good idea to go with the Chase Sapphire Preferred® Card, which has an annual fee of $95.

Here's a look at the cards' main features, side by side:

At a glance

When to choose the American Express® Gold Card

You’re able to use all the credits

The American Express® Gold Card comes with a suite of souped-up benefits, including multiple credits. Among them:

Previously, cardholders also received an $100 airline fee credit, but this perk was eliminated in 2021. Even without this added credit, the dining credit and Uber Cash credit add up to an annual $240 in savings, effectively canceling out most of this card’s $250 annual fee. That could make the American Express® Gold Card a more valuable choice than the Chase Sapphire Preferred® Card for some.

Of course, it’s worth noting that using fringe perks like these isn’t necessarily easy — especially if you don’t normally spend in these categories, which are narrowly defined. If taking advantage of these perks would drive you to spend more than usual, this card isn't the ideal choice for you.

You spend a lot on food in general, not just dining

Both the Chase Sapphire Preferred® Card and the American Express® Gold Card reward spending on dining and travel in some way, though their bonus categories are defined differently.

But the American Express® Gold Card goes a step beyond, offering bonus rewards on spending at U.S. supermarkets up to a yearly cap, which could make it a more valuable choice for some.

When to choose the Chase Sapphire Preferred® Card

You want to transfer rewards to a domestic airline

Both the American Express® Gold Card and Chase Sapphire Preferred® Card come with several transfer partners, allowing you to move your points earned on your card to various airline and hotel loyalty programs. Generally, you can transfer points at a 1:1 ratio on both cards (although some American Express transfer partners come with different ratios).

But when you’re moving points from the American Express® Gold Card to a U.S. airline transfer partner, you’ll have to pay an excise tax of 0.06 cent per point, up to $99 per transfer. That could make your rewards less valuable.

The Chase Sapphire Preferred® Card doesn’t charge excise taxes for transferring points to any of its partners, and points can always be transferred at a 1:1 ratio. For some travelers, that could make it a stronger choice.

You’re looking for a lower annual fee

The Chase Sapphire Preferred® Card has a relatively modest annual fee of $95. You’d have to spend at least $3,800 on the card to make up for that fee in rewards — but for those who spend plenty on travel and dining, that’s an easy bar to clear.

The American Express® Gold Card comes with an annual fee of $250, which may be harder to justify, particularly if you’re not confident you can use the dining and Uber benefits. Those aside, you’d have to spend at least $6,250 annually after the first year on this card to make up for the annual fee. If you can't picture doing that, the Chase Sapphire Preferred® Card might be a better fit.

You want to redeem points for travel directly

The value of points on both cards varies, depending on how they're redeemed. Chase Ultimate Rewards® points on the Chase Sapphire Preferred® Card are worth 1.25 cents each when redeemed through Chase's travel portal. Membership Rewards on the American Express® Gold Card can be worth 1 cent each when used to book select travel through American Express, while other travel bookings will only yield 0.6 cents per point.

Which card is right for you?

If you're all about dining and travel, deciding between the Chase Sapphire Preferred® Card and the American Express® Gold Card generally boils down to one question: Can you take full advantage of the credits on the American Express® Gold Card without spending more than usual? If your answer is "yes," the American Express® Gold Card is your card. If not, go with the Chase Sapphire Preferred® Card.