Chase Ultimate Rewards Vs. American Express Membership Rewards (2024)

American Express Membership Rewards can be transferred to 21 airline and hotel partners—that’s more than Chase offers. More options aren’t always better, though, especially since Amex includes a few programs you may have never used (or even heard of) before.

Chase wins regarding transfer speed—nearly all are instantaneous, whereas Amex has a few partners that take a day or more.

If there’s a particular airline or hotel transfer partner you’re interested in, you’ll want to compare options ahead of time:

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Chase Sapphire Reserve®

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4.9

Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.

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Up to 10x Reward Rate

Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel throughRead More

Welcome Bonus

75,000 bonus points

Annual Fee

$550

Regular APR

22.49%-29.49% Variable

Credit Score

Excellent(750 - 850)

Editorial Review

This card offers superior points earning rates if you spend frequently on travel and dining out. The $300 travel credit justifies much of the annual fee, and redeeming points for travel through Chase Travel℠ nets you a 50% bonus.

Pros & Cons

• $300 annual travel credit is incredibly flexible
• Generous welcome bonus
• Get 50% more value when you redeem points for travel through Chase
• Points transfer to valuable airline and hotel partners

• High annual fee
• High variable APR on purchases
• Excellent credit recommended

Card Details

• Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,125 toward travel when you redeem through Chase Travel℠.
• $300 Annual Travel Credit as reimbursem*nt for travel purchases charged to your card each account anniversary year.
• Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
• Get 50% more value when you redeem your points for travel through Chase Travel℠. For example, 75,000 points are worth $1125 toward travel.
• 1:1 point transfer to leading airline and hotel loyalty programs
• Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
• Member FDIC

See Also

How Much Are 100,000 American Express Points Worth?

Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,125 toward travel when you redeem through Chase Travel℠.

Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Part of the value of a rewards program is how easy it is to earn points. Thankfully, both programs have several cards to choose from so you can find one that matches what you’re looking for. You’ll find options for personal and business cards, each with unique earning structures.

Amex Cards That Earn Membership Rewards

• The Platinum Card® from American Express: 5 Membership Rewards Points per dollar for flights booked directly with airlines or with American Express Travel on up to $500,000 per calendar year, 5 points per dollar on prepaid hotels booked with American Express Travel and 1 point per dollar on other eligible purchases (Terms apply. See rates & fees)
• American Express® Gold Card: 4 Membership Rewards® points per dollar at restaurants, plus takeout and delivery in the U.S., 4 Membership Rewards® points per dollar at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1 point per dollar), 3 Membership Rewards® points per dollar on flights booked directly with airlines or through American Express travel and 1 point per dollar on other eligible purchases (Terms apply. See rates & fees)
• American Express® Green Card*: 3 points per dollar on travel and transit including flights, hotels, taxis, rideshare services, trains, parking and more, 3 points per dollar on eligible purchases at restaurants worldwide including takeout and delivery in the U.S. and 1 point per dollar on other purchases
• Amex EveryDay® Credit Card*: 2 Membership Rewards points per dollar at US supermarkets on up to $6,000 per year in purchases (then 1X), 2 points per dollar when using the card to book trips through American Express Travel and 1 point for every eligible dollar on everything else. Plus, use the card 20 or more times on purchases in a billing period and earn 20% extra points on those purchases
• Amex EveryDay® Preferred Credit Card*: 3 points per dollar at U.S. supermarkets, on up to $6,000 per year in purchases (then 1 point per dollar), 2 points per dollar on U.S. gas stations and eligible travel purchases like prepaid hotel stays, vacation packages and cruises booked through AmexTravel.com and 1 point per dollar on other eligible purchases
• The Business Platinum Card® from American Express: 5 Membership Rewards® points per dollar on flights and prepaid hotels through American Express Travel, 1.5 points per dollar on eligible purchases at U.S. construction material & hardware suppliers, electronic goods retailers and software and cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year and 1 point per dollar on other eligible purchases (Terms apply. See rates & fees)
• American Express® Business Gold Card: 4 Membership Rewards® points per dollar on the 2 select categories where a business spends the most each month (up to $150,000 combined purchases per calendar year), 3 points per dollar on flights and prepaid hotels booked on Amex Travel and 1 point per dollar is earned for other purchases (Terms apply. See rates & fees)
• Business Green Rewards Card from American Express*: 2 points per dollar on eligible purchases at American Express Travel and 1 point per dollar on eligible purchases
• The Blue Business® Plus Credit Card from American Express: 2 Membership Rewards points per dollar on everyday business purchases such as office supplies or client dinners up to the first $50,000 in purchases per year, then 1 point per dollar on all other purchases (Terms apply. See rates & fees)

Chase Cards That Earn Ultimate Rewards

• Chase Sapphire Reserve®: 5 points per dollar on flights and 10 points per dollar on hotels and car rentals when purchasing travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3 points per dollar on other travel and dining and 1 point per dollar spent on all other purchases
• Chase Sapphire Preferred® Card: 5 points per dollar on travel purchased through Chase Travel℠, 3 points per dollar on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per dollar on all other travel purchases and 1 point per dollar on other purchases
• Ink Business Preferred® Credit Card: 3 points per dollar on the first $150,000 spent on travel and select business categories each account anniversary year and 1 point per dollar on all other purchases

Additionally, several Chase credit cards earn points that can be treated and redeemed as fully flexible Ultimate Rewards when paired with one of the above cards. This includes the Chase Freedom Flex℠, Chase Freedom Unlimited®, Ink Business Cash® Credit Card and the Ink Business Unlimited® Credit Card.

Considering which earning structure best aligns with your spending habits can help you earn points more quickly. But that’s not the whole story. Annual fees, card benefits and welcome bonuses may also affect your decision.

All information about American Express® Green Card, Amex EveryDay® Credit Card, Amex EveryDay® Preferred Credit Card, Business Green Rewards Card from American Express has been collected independently by Forbes Advisor

When it comes to transferable points, typically the most valuable way to redeem them is by transferring them to airline and hotel partners. This is true for both Amex and Chase. However, it’s not the only redemption option. These alternate ways to redeem points are where Membership Rewards and Ultimate Rewards differ substantially.

Cash-Back Redemption Options

Having an option to cash out points at a solid redemption rate adds to a program’s flexibility. In this metric, Chase clearly beats Amex.

With no strings attached, you can redeem Chase Ultimate Rewards points for 1 cent per point through the cash-back option.

Some cardholders can get even more value through Chase’s other cash back options. Chase Sapphire Preferred® Card and Ink Business Preferred® Credit Card cardholders can redeem Ultimate Rewards points at a rate of 1.25 cents per point to offset eligible purchases through the Pay Yourself Back option. Even better, Chase Sapphire Reserve® cardholders get 1.5 cents per point for eligible purchases through Pay Yourself Back.

Meanwhile, American Express Membership Rewards points only provide 0.6 cents per point in value to cover charges made on your card.

Using Points for Travel Purchases

Another way that Ultimate Rewards beat Membership Rewards is by redeeming points for travel purchases.

With a Sapphire Preferred or Ink Business Preferred, you can redeem Ultimate Rewards for travel at 1.25 cents per point. Sapphire Reserve cardholders get 1.5 cents per point. Although other cards only get 1 cent per point in value when booking travel, it can be applied toward flights, hotels, rental cars, cruises and more through the Chase Travel℠ portal.

Meanwhile, Membership Rewards points only provide 1 cent per point in value for certain travel redemptions:

• Booking flights through American Express Travel
• Upgrading with points on eligible airlines
• Booking through American Express Travel

On other types of travel, you’ll only get up to 0.7 cents per Membership Rewards point. This includes prepaid hotels, prepaid rental cars, cruises and vacation packages.

In addition to the rewards you earn from regular spending, new cardholders may be eligible for a welcome bonus after approval and meeting spending requirements. Though this is a one-time offer, Chase and American Express have a history of offering lucrative bonuses.

Bonuses change frequently. You won’t know whether a better offer may come along later. That’s why it’s important to choose a card based on its overall fit for your purposes rather than focusing solely on a welcome bonus. Still, certain cards from both issuers are known for high bonuses.

For example, these cards currently have strong welcome offers:

• The Platinum Card® from American Express: 80,000 Membership Rewards Points after spending $8,000 on eligible purchases on the card in the first 6 months of card membership
• American Express® Gold Card: 60,000 Membership Rewards points after spending $6,000 on purchases in the first 6 months of card membership
• American Express® Business Gold Card: 70,000 Membership Rewards® points after spending $10,000 on eligible purchases within the first 3 months of opening an account
• Chase Sapphire Reserve®: 75,000 bonus points after spending $4,000 on purchases in the first three months from account opening
• Chase Sapphire Preferred® Card: 75,000 bonus points after spending $4,000 on purchases in the first three months from account opening
• Ink Business Preferred® Credit Card: 100,000 points after spending $8,000 on purchases in the first 3 months from account opening

Consider Neither American Express Membership Rewards nor Chase Ultimate Rewards Points For

Earning Cash Back

If cash back is your goal, transferable points currencies like Membership Rewards and Ultimate Rewards aren’t a fit for you. That’s because most of the value of these programs lies in transferring points to airline and hotel partners. If you’re looking to keep it simple and earn cash back, you’ll want to consider some of the best cash-back cards instead.

Niche Award Travel Sweet Spots

Want to fly to Hawaii for just 7,500 points each way using ? Or book a vacation rental for 15,000 Wyndham Rewards points per night? Unfortunately, you can’t book either of these niche award travel sweet spots with Ultimate Rewards points or Membership Rewards points.

While there are a lot of sweet spots in both programs, you might want to consider focusing on Citi ThankYou Points if you’re a mileage expert looking for outsized value from niche award travel sweet spots.

Hotel Transfer Partners

Generally, you won’t get the best value when transferring either Ultimate Rewards or Membership Rewards points to hotel loyalty programs. That’s because hotel points are generally worth less than 1 cent per point and transfers are usually 1:1. So, you will frequently get less than 1 cent per point in value by transferring points to hotel programs.

However, there are exceptions where you can get more than 1 cent per point of value with hotel transfers. One of Chase’s most valuable transfer partners is actually a hotel partner: World of Hyatt. So, if you’re a fan of Hyatt, earning Chase Ultimate Rewards is a great choice.

However, if you’re looking to earn hotel points, you’ll generally get more value from a dedicated hotel co-branded card than from Chase Ultimate Rewards points or Amex Membership Rewards points.

As you can see, both Chase Ultimate Rewards and Amex Membership Rewards have unique benefits. But you don’t have to choose between them. You can get a Chase Ultimate Rewards card and an Amex Membership Rewards card to maximize the benefits of each program.

By collecting both currencies, you’ll have points you can transfer to 20 airline programs and five hotel programs. This can give you unrivaled flexibility and access to award sweet spots.

However, there’s nothing wrong with sticking to a single program if you prefer. If you don’t mind mastering airline and hotel transfer partners, Amex Membership Rewards offers more transfer options, more frequent transfer bonuses, and more ways to earn points. For redemption variety, more valuable redemption options and quicker transfers, Chase Ultimate Rewards points may be the best choice for you.

To view rates and fees for The Platinum Card® from American Express, please visit this page.
To view rates and fees for the American Express® Gold Card, please visit this page.
To view rates and fees for The Business Platinum Card® from American Express please visit this page.
To view rates and fees for the American Express® Business Gold Card please visit this page.
To view rates and fees for The Blue Business® Plus Credit Card from American Express please visit this page.