Amex Gold vs Chase Sapphire Preferred: The $250 vs $95 Question
Two of the best travel cards on the market. One costs $155 more per year. Here's how to know which one actually earns you more.
The Most Common Question We Get
If you've spent any time reading about travel credit cards — including our own guide to the best cards for adults 55+ — you've probably noticed two names showing up over and over: the Chase Sapphire Preferred and the American Express Gold Card.
Both are excellent. Both earn flexible points you can use for flights, hotels, and more. Both waive foreign transaction fees. Both have loyal followings who will argue passionately that their card is the better choice.
And both might be right — depending on how you spend your money.
That's the thing nobody tells you in most comparison articles. There isn't a universal winner here. The right card depends on what your actual life looks like: what you buy, where you eat, how often you travel, and what you value in a rewards program. The $250 Amex Gold is the clear winner for some households. The $95 Chase Sapphire Preferred is the clear winner for others.
My job is to help you figure out which household is yours. So let's set the two cards on the table, run the real numbers, and see where the math lands.
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The Tale of the Tape
Let's start with the facts, side by side.
| Feature | Chase Sapphire Preferred | Amex Gold |
|---|---|---|
| Annual fee | $95 | $250 |
| Sign-up bonus | 80,000 points (spend $4,000 in 3 months) | 60,000 points (spend $6,000 in 6 months) |
| Dining earning rate | 3x points per dollar | 4x points per dollar |
| Grocery earning rate | 3x on online groceries | 4x at U.S. supermarkets (up to $25,000/year) |
| Travel earning rate | 2x on travel | 3x on flights booked directly with airlines |
| Everything else | 1x | 1x |
| Annual credits | $50 hotel credit (via Chase Travel) | $120 dining credit + $120 Uber Cash + $84 Dunkin' |
| Foreign transaction fees | None | None |
| Transfer partners | 14 airlines + hotels (United, Hyatt, Southwest, British Airways, etc.) | 21 airlines + hotels (Delta, Air France, ANA, British Airways, etc.) |
| Portal redemption value | 1.25 cents per point | 1 cent per point |
| Trip cancellation insurance | ✅ Up to $10,000 per person | ✅ Up to $10,000 per person |
| Primary rental car coverage | ✅ Yes | ❌ Secondary only |
| Purchase protection | ✅ 120 days | ✅ 120 days |
A few things jump out immediately. The Chase card has a lower annual fee and a larger sign-up bonus. The Amex card earns more points on food. Both have transfer partners, but they're different airlines and hotels. And the Amex comes with $324 in annual credits that the Chase doesn't match.
Let's dig deeper.
The Annual Fee, Honestly
The sticker price says $250 versus $95. That's a $155 difference. But sticker price isn't what you actually pay — not once you account for the credits that come with each card.
Chase Sapphire Preferred: True cost
The $50 annual hotel credit through Chase Travel is straightforward. If you book at least one hotel night per year through Chase's portal (which works like any other travel booking site), you save $50.
Effective annual fee: $95 – $50 = $45
Amex Gold: True cost
The Amex credits require a bit more attention:
- $120 dining credit: $10 per month at participating restaurants including Grubhub, The Cheesecake Factory, Goldbelly, and select others. If you use any of these services, it's essentially automatic.
- $120 Uber Cash: $10 per month in Uber credits. Works for Uber rides and Uber Eats. If you use either service even occasionally, this is real money.
- $84 Dunkin' credit: $7 per month at Dunkin'. Coffee drinkers, this is yours.
Effective annual fee: $250 – $324 in credits = –$74
Read that again. If you use the credits — and they're not difficult to use — the Amex Gold doesn't cost you $250. It doesn't cost you anything. It actually pays you $74 per year to carry it.
Now, a caveat. Those credits only have value if you'd actually use the services. If you never order through Uber Eats, never step into a Dunkin', and don't eat at the participating restaurant partners, the credits are worth less to you. Be honest with yourself about what you'll actually use.
For most couples who dine out regularly and occasionally use a ride service or food delivery, the credits are genuinely useful. But if they're not part of your routine, don't contort your life to use them. The Chase card's simpler math might be better for you.
The Earning Rate Showdown: Where Your Money Actually Goes
Here's where it gets interesting. Let's build a realistic monthly budget for a couple in their sixties and see how each card performs.
Typical monthly spending
| Category | Monthly amount |
|---|---|
| Groceries | $800 |
| Dining out | $500 |
| Travel (averaged monthly) | $400 |
| Gas | $250 |
| Utilities, subscriptions, everything else | $1,050 |
| Total monthly spending | $3,000 |
Points earned per year
| Category | Monthly spend | Chase Sapphire Preferred | Amex Gold |
|---|---|---|---|
| Groceries | $800 | 800 × 1x = 800 pts* | 800 × 4x = 3,200 pts |
| Dining | $500 | 500 × 3x = 1,500 pts | 500 × 4x = 2,000 pts |
| Travel | $400 | 400 × 2x = 800 pts | 400 × 3x = 1,200 pts** |
| Gas | $250 | 250 × 1x = 250 pts | 250 × 1x = 250 pts |
| Everything else | $1,050 | 1,050 × 1x = 1,050 pts | 1,050 × 1x = 1,050 pts |
| Monthly total | $3,000 | 4,400 pts | 7,700 pts |
| Annual total | $36,000 | 52,800 pts | 92,400 pts |
*Chase earns 3x on "online groceries," not in-store purchases. Most in-store grocery shopping earns 1x. If you order groceries through Instacart or similar services, you'd earn 3x.
**Amex earns 3x on flights booked directly with airlines. Other travel categories earn 1x.
The difference is striking: 92,400 versus 52,800 points per year. The Amex Gold earns 75% more points on the same spending, almost entirely because of that 4x rate on groceries and dining.
And here's the thing about groceries and dining — for most of us, these aren't discretionary categories. You're spending this money anyway. Every single week, without fail. That's what makes the Amex Gold's earning structure so powerful for our demographic: it rewards the spending you can't avoid.
What Are Those Points Actually Worth?
Points are only as good as how you use them. Both Chase Ultimate Rewards and Amex Membership Rewards are flexible point currencies, which means you have options.
The simple route: Booking through the portal
If you book travel through Chase's portal, each point is worth 1.25 cents. So 52,800 Chase points = $660 in travel.
If you book through Amex's portal, each point is worth 1 cent. So 92,400 Amex points = $924 in travel.
Winner at portal rates: Amex Gold, by $264.
The advanced route: Transferring to airline and hotel partners
Both programs let you move your points to partner airlines and hotels — usually at a 1:1 ratio — where the same points can be worth significantly more. When you transfer to the right partner at the right time, points can be worth 1.5 to 3 cents each, sometimes more.
| Chase (52,800 pts) | Amex (92,400 pts) | |
|---|---|---|
| At 1.5 cents per point | $792 | $1,386 |
| At 2.0 cents per point | $1,056 | $1,848 |
| At 2.5 cents per point | $1,320 | $2,310 |
At every valuation level, the Amex Gold comes out ahead — sometimes dramatically.
Chase does have one significant transfer partner that Amex doesn't: Hyatt. If you're a frequent Hyatt guest, Chase points transferred to World of Hyatt are consistently worth 2 cents or more per point. That single partnership is a meaningful advantage.
Amex, on the other hand, has strong airline partnerships — Delta, Air France-KLM, ANA, Singapore Airlines — that are particularly valuable for international premium cabin flights. If a business class seat to Europe or Asia is on your list, Amex points tend to offer the most routes and best availability.
First Year: The Full Math
Let's bring it all together for year one, including sign-up bonuses and credits.
| Chase Sapphire Preferred | Amex Gold | |
|---|---|---|
| Sign-up bonus value (at 1.5 cents/pt) | 80,000 × 1.5¢ = $1,200 | 60,000 × 1.5¢ = $900 |
| Annual earning value (at 1.5 cents/pt) | 52,800 × 1.5¢ = $792 | 92,400 × 1.5¢ = $1,386 |
| Annual credits | $50 | $324 |
| Total first-year value | $2,042 | $2,610 |
| Annual fee | –$95 | –$250 |
| Net first-year value | $1,947 | $2,360 |
Year one winner: Amex Gold, by $413.
Ongoing years (no sign-up bonus)
| Chase Sapphire Preferred | Amex Gold | |
|---|---|---|
| Annual earning value (at 1.5 cents/pt) | $792 | $1,386 |
| Annual credits | $50 | $324 |
| Total annual value | $842 | $1,710 |
| Annual fee | –$95 | –$250 |
| Net annual value | $747 | $1,460 |
Ongoing winner: Amex Gold, by $713 per year.
That's a significant gap. If your spending looks anything like the profile above — $800 per month on groceries, $500 on dining — the Amex Gold earns substantially more, even after the higher annual fee.
So Why Would Anyone Choose Chase?
Looking at those numbers, you might wonder why the Chase Sapphire Preferred exists on this list at all. A few important reasons:
1. Your grocery spending is mostly in-store
Chase earns 3x on online groceries, but only 1x at the physical grocery store. Our math above assumed in-store shopping (which is why Chase earned 1x on groceries). However, if you're already ordering groceries through Instacart, Walmart delivery, or similar services, Chase's 3x rate kicks in and the gap narrows.
The Amex Gold earns 4x at supermarkets regardless of whether you walk through the door or order online. For most people who shop in person, Amex has the clear advantage.
2. You value simplicity over optimization
The Chase Sapphire Preferred is a simpler card. One annual credit to track. A travel portal that gives you a straightforward 1.25 cents per point. No monthly credits to remember to use. If the idea of tracking $10 dining credits and $7 Dunkin' credits and $10 Uber credits every month sounds exhausting, Chase offers a cleaner experience.
3. You want Hyatt access
Chase is the only way to transfer points to World of Hyatt, which is arguably the best hotel loyalty program in the world for point value. If Hyatt hotels are part of your travel plans, Chase points are significantly more valuable for hotel stays.
4. You want primary rental car coverage
Chase Sapphire Preferred provides primary rental car insurance, meaning it pays out before your personal auto insurance. The Amex Gold only offers secondary coverage. If you rent cars frequently, this perk alone can save you hundreds in rental counter insurance.
5. The sign-up bonus is larger
80,000 points versus 60,000 — that's a meaningful difference in year one. If you're looking for the biggest initial payoff, Chase delivers more upfront.
Who Should Get Each Card
After running the numbers and thinking through the practical differences, here's my recommendation:
Get the Amex Gold if:
- You spend $600 or more per month on groceries and dining combined
- You'd genuinely use the Uber, dining, and Dunkin' credits (don't force it — be honest)
- You're planning international trips where airline transfer partners matter
- You don't rent cars frequently (or you have your own rental car insurance)
- You're comfortable tracking monthly credits
Get the Chase Sapphire Preferred if:
- Your grocery and dining spending is under $600 per month combined
- You prefer a simpler card with fewer credits to track
- You stay at Hyatt hotels (or want to start — they're excellent)
- You rent cars regularly and want primary insurance coverage
- You want the larger sign-up bonus and lower annual fee
Or — and this is the answer many people don't expect — get both
The Amex Gold and the Chase Sapphire Preferred are not competitors. They're complements. Use the Amex Gold for all your grocery and dining spending (4x everywhere), and the Chase Sapphire Preferred for travel, online purchases, and everything else (2x on travel, with Hyatt transfers available). Together, they cover nearly every spending category at elevated rates.
The combined annual fee is $345. Based on the spending profile above, the combined cards would earn approximately 145,200 points per year — worth $2,178 at a conservative 1.5 cents per point. Subtract the $345 in fees and add back $374 in credits, and you're looking at over $2,200 in net annual value from two cards.
That's enough for two round-trip flights to Europe. Every year. From groceries and dinner.
The Bottom Line
The Amex Gold wins on raw earning power for food-focused households. The Chase Sapphire Preferred wins on simplicity, rental car coverage, and Hyatt access. Both are outstanding cards. Neither is a wrong choice.
If you can only pick one and your food spending is significant, the Amex Gold earns more. The $250 annual fee sounds higher, but after credits it's effectively free — and the 4x rate on groceries and dining generates points at a pace the $95 Chase card simply can't match.
If you want one card that does everything competently, doesn't require tracking monthly credits, and gives you the single best travel portal and hotel transfer partner, the Chase Sapphire Preferred remains our overall recommendation for a reason.
Pick the one that matches your life. They're both cards you'll be glad to have in your wallet.
See current Chase Sapphire Preferred offer →
Related Reading
- Amex Membership Rewards: Complete Guide for Travelers Over 55 →
- How to Use Chase Ultimate Rewards Points →
- Best Credit Cards for Grocery and Dining Points →
- Paris on Points: Complete Destination Guide →
Last updated: February 2026. Card terms, bonuses, and annual fees are accurate as of publication. We update our reviews monthly. Affiliate disclosure: WanderWise earns a commission when you apply through our links. This doesn't influence our recommendations — we'd tell you about a better card even if we earned nothing from it. That's our policy.