When it comes to travel rewards programs, two of the greats are Chase Ultimate Rewards® and American Express® Membership Rewards. Both of these programs offer incredible value and flexibility, allowing you to book flights, hotels, and more using points. Understanding the key differences between them can help you determine which program better suits your travel and spending habits best, or even better, why you should be earning both of them 😉
In this guide, we’ll compare the two to help you maximize your points and travel in more luxury than you ever thought possible while spending as little as possible to do it!
Earning Points In The Two Programs
Both these programs offer a variety of ways to earn points, but the earning structures differ slightly depending on card types, bonus categories, and other things.
Welcome Bonuses
Chase Ultimate Rewards®: Chase offers generous welcome bonuses:
- Chase Sapphire Preferred® Card – 60,000 points after meeting a minimum spend requirement.
- Chase Sapphire Reserve® – 60,000 points with premium perks.
- Chase Ink Business Preferred® Credit Card – 90,000 points for business owners.
American Express® Membership Rewards: American Express also provides strong welcome bonuses, such as:
- The Platinum Card® from American Express – 80,000 points and premium perks
- American Express® Gold Card – 60,000 points and excellent category bonuses
- American Express® Business Gold Card – 100,000 points for business spenders
Category Bonuses
Chase Ultimate Rewards®:
- Chase Sapphire Preferred® Card – 2x points on travel & dining.
- Chase Sapphire Reserve® – 3x points on travel & dining, 10x on select hotel/car bookings.
- Chase Ink Business Preferred® Credit Card – 3x on business spending (advertising, travel, etc.).
- Chase Freedom Flex® – 5% rotating categories.
American Express® Membership Rewards:
- The Platinum Card® from American Express – 5x points on flights booked directly with airlines or through Amex Travel.
- American Express® Gold Card – 4x on dining and U.S. supermarkets.
- American Express® Blue Business Plus – 2x on all purchases up to $50K per year.
Referral Bonuses
Both programs are very generous with referral bonuses, allowing you to earn up to 45k points per referral, and I believe this is an excellent way to supplement your normal everyday spend and earn a ton more points every year. If you can become the person taking amazing trips by using these great points programs, people will want to take your advice, and you can hand them your link so you both win!
Redeeming Points: Which Program Offers More Value?
Now let’s get to the meat of it. The real value of a rewards program lies in how much value you can extract when redeeming your points. Both currencies here offer flexible options, but they differ in redemption rates and travel partners.
The highest-value redemption method for both of these currencies is, by far, transferring points to airline and hotel partners. However, the partners available in the two programs differ.
Here are some examples of partners available in one currency and not the other:
Chase Ultimate Rewards® Unique Transfer Partners:
- Airlines: United, Southwest
- Hotels: World of Hyatt, IHG.
American Express® Membership Rewards Unique Transfer Partners:
- Airlines: Delta, Avianca Lifemiles, ANA, Qantas, Hawaiian
- Hotels: Hilton Honors, Choice Privileges.
Travel Portal Redemptions
In general, I can’t recommend using the travel portal but here’s the info:
Chase: When booking through the Chase Travel Portal, points are worth between 1.25 cents and 1.50 cents per point, depending on the card you hold
American Express: The AmexTravel.com Portal generally values points at 1 cent per point, making Chase more valuable for direct portal bookings.
Other Redemption Options (Less Value)
Cash Back & Gift Cards: Chase allows you to redeem points for cash back at 1 cent per point, while Amex’s cash-out value is usually lower unless you use Schwab Platinum (1.1 cents per point).
Amazon & Shopping Portals: Both programs allow shopping redemptions, but they provide poor value (~0.7 cents per point).
Other Program Perks & Benefits
Outside of just the rewards side of things, both programs offer unique perks on the individual cards available. From annual travel credits to differences in lounge access, there are many things to consider across the board. But one thing is for certain – both programs are very strong when it comes to perks and benefits available.
Which Program is Better for You?
Choose Chase Ultimate Rewards® if:
- You want simplicity and high redemption values through the Chase Travel Portal (remember this is less valuable though).
- You want an easy way to fly United or Southwest or want to get amazing hotel redemptions at Hyatt properties.
- You prefer cash back flexibility without needing transfer strategies.
Choose American Express® Membership Rewards if:
- You love luxury travel perks and want an easy way to fly Delta.
- You want access to high-end lounges like The Centurion Lounge.
- You spend heavily on dining and groceries.
Final Thoughts
Both Chase Ultimate Rewards® and American Express® Membership Rewards are powerful travel rewards programs, with slightly different ways to accomplish the same goal – travel in luxury as often as possible, for as little money as possible. Chase might excel more for hotel redemptions and simplicity, and American Express might excel more when it comes to premium travel perks and having a larger list of transfer partners, but whether or not there is a best choice is tough to say.
In my opinion, you should be earning both currencies to have a strong travel strategy and be in a good position for all your future trips.
Whichever you choose, earning and redeeming these points strategically can help you build amazing memories long-term, so any choice is a good choice!
See you in first class 😉
-Andy