Are you looking for a premium rewards card that offers exceptional benefits and rewards? Look no further than the Chase Sapphire Preferred and the Amex Gold Card. These mid-tier cards provide elevated credit card benefits and rewards that are perfect for those looking to maximize their spending. In this article, we will compare these two cards and help you decide which one is best for you.
How the Cards Stack Up
Let’s start by comparing the Chase Sapphire Preferred and Amex Gold Card:
| Chase Sapphire Preferred | Amex Gold Card | |
|---|---|---|
| Rewards | Ultimate Rewards | Membership Rewards |
| Bonus Categories | Travel, Dining | Restaurants, Groceries |
| Annual Fee | Lower | Higher |
| APR | Slightly better | Slightly higher |
| Foreign Transaction Fee | None | None |
Winner: Chase Sapphire Preferred
Based on these comparisons, the Chase Sapphire Preferred emerges as the better choice for most people. It offers elevated rewards on travel, dining, online grocery purchases, and streaming services. The Ultimate Rewards earned can be converted to cash, used for travel, or transferred to travel partners for even more value. Additionally, the card provides market-leading travel insurance protections and extended warranty benefits. With a lower annual fee than the Amex Gold Card, it offers a more appealing proposition.
Why You Might Still Prefer Amex Gold Card
The Amex Gold Card can still be a good option for some consumers. It offers 4x Membership Rewards points at restaurants and U.S. supermarkets (up to $25,000 in spending). If you frequently dine out or spend heavily in these categories, the Amex Gold Card might be worth considering. Additionally, its cash-back credits for dining and Uber usage can provide significant value for those who frequent the eligible merchants.
Bottom Line
The Chase Sapphire Preferred offers a great combination of benefits and rewards for both frequent and infrequent travelers. With its market-leading travel insurance and extended warranty benefits, it is a compelling choice. The Amex Gold Card, on the other hand, excels in earning points at restaurants and U.S. supermarkets. Ultimately, the decision depends on your spending patterns and travel preferences.
For rates and fees of the Amex Gold Card, please visit this URL.
Frequently Asked Questions (FAQs)
Is it worth having both Amex Gold Card and Chase Sapphire Preferred?
In some cases, it could be worth having both cards, especially if you travel frequently and want to earn maximum rewards on groceries and dining.
How does the Amex Gold Card credit limit work?
The Amex Gold Card comes with no preset spending limit, but the amount you can charge to the card will vary based on your account history.
What credit score do you need for Chase Sapphire Preferred?
The Chase Sapphire Preferred is offered to consumers with good-to-excellent credit. Typically, a good credit score is required when applying for the card.
Remember, these are just general recommendations. Consider your own spending patterns and preferences to determine which card is the best fit for you. Happy card hunting!