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American Express and Chase have two of the most robust travelers’ rewards programs today. Their flexible travel credit cards, high-value redemptions, and long lists of added perks can all go a long way, whether you travel often or only a few times yearly.
The better program for you depends on your redemption preferences, including which transfer partners align with your trip plans. However, it’s also possible to use both programs effectively simultaneously.
From our count (see note below), both American Express and Chase have seven cards, split between personal and business cards, that earn travel rewards points. Knowing this, one program doesn’t have an edge over the other in terms of more cards to choose from.
Note: We didn’t include certain cards in our count if you can’t currently apply for them, they’re nearly identical to an already-included card, or you can’t combine points with other similar cards from the same issuer.
Credit card rewards value is how much each point or mile is worth in cash. This value can vary by redemption option. An issuer might assign a rewards value to a certain redemption option or you might have to figure it out yourself. It’s typically easy to figure out if you can see how much an award redemption (such as an award flight) costs in points, as well as cash.
For example, if airfare costs $100 or 10,000 points, your rewards are worth one cent per point for that redemption. That’s $100 / 10,000 = $0.01.
Knowing rewards values is important because it lets you know how much your points are worth after earning them from making purchases or completing a welcome offer.
Here are how the American Express and Chase points rewards values stack up against each other:
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American Express: Amex points are generally worth 0.6 to 2+ cents per point, depending on the redemption.
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Chase: Chase points are generally worth 0.8 to 2+ cents per point, depending on the redemption.
In general, the point value ranges for both issuers are nearly identical. We recommend avoiding any redemption that offers less than one cent per point — such as redeeming points toward Amazon purchases — so you should be receiving at least $100 in value per 10,000 points for both rewards programs.
However, it’s possible to receive more value with specific redemptions, which could include transferring points to airline loyalty programs and then redeeming them for premium flights (first or business class).
These are the available redemption options from both programs.
Amex and Chase share many similar redemption options, but Chase provides a few more on top of the standard choices. In particular, Pay Yourself Back is an exclusive Chase redemption option that lets you redeem points toward eligible purchases in specific categories. The categories vary by card.
For example, past Chase Sapphire Reserve® Pay Yourself Back categories have included utilities, insurance, fitness clubs, gas stations, the annual membership fee, wholesale clubs, grocery stores, and more. The kicker here is that you can sometimes receive more than one cent per point of value for these redemptions.
Related: Should you use credit card rewards for shopping or travel?
American Express Membership Rewards provides access to 21 hotel and airline partners, while Chase Ultimate Rewards has 14 transfer partners. Here are the specific partners for each rewards program.
American Express has more transfer partners, but that doesn’t mean it’s automatically better than Chase. The true worth of transfer partners comes down to which ones you actually use and get value from.
Considering both Amex and Chase have unique partners, we could see either program being a good fit depending on your typical travel preferences, including your preferred airlines and/or hotels.
Tip: If you plan to transfer points to a travel partner, keep an eye out for transfer bonuses. Many card issuers, including American Express and Chase, offer different transfer bonuses throughout the year where you can receive bonus points for transferring rewards to a certain airline or hotel partner during the allotted time period.
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You prefer Amex transfer partners
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You already have a relationship with American Express
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You want to combine points between multiple Amex cards
For frequent travelers, we see the main difference between the Amex and Chase rewards programs as their transfer partners. If you have preferred airline and hotel loyalty programs and they align with American Express, this could be the rewards program for you.
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You prefer Chase transfer partners
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You already have a relationship with Chase
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You want to combine points between multiple Chase credit cards
We recommend Chase Ultimate Rewards if your travel preferences align with its available transfer partners.
We also think Chase Travel℠ is easier to use than the American Express Travel portal if you plan on booking travel through either rewards program. Credit card company travel portals are typically where you can book flights, hotel stays, and/or rental cars, depending on the portal.
We don’t recommend applying for more credit cards than you can handle. However, if you’re comfortable using rewards credit cards and know you can get more than enough value from them to offset any potential annual cardholder fees, we think using both Amex and Chase points simultaneously is an excellent idea.
Both Amex and Chase points can provide plenty of value to frequent travelers, especially if you take advantage of points transfers. In addition, having access to both rewards programs gives you access to more transfer partners and the opportunity to maximize your overall earning potential with different spending categories on multiple cards.
If Amex Membership Rewards and Chase Ultimate Rewards don’t seem like the right fit for you, or you’re looking to expand your earning opportunities with points or airline miles, consider these other rewards programs.
Why we like it: Capital One miles provide access to over 15 transfer partners, giving you plenty of flexibility with your points. We also like that you can redeem your miles to cover past travel purchases, which gives you the opportunity to use your miles for any number of things, as long as they code as travel purchases on your credit card statement.
Why we like it: Citi ThankYou Rewards points provide access to over 18 travel partners. This includes an elevated transfer ratio of 1:2 to the Choice Privileges program, meaning for every 1,000 ThankYou points you transfer, you get 2,000 Choice points. Note that this elevated ratio is only available on certain Citi credit cards.
Why we like it: Wells Fargo Rewards provides access to fewer transfer partners than other major credit card rewards programs, but the fact that you get any means these points are more flexible than many other card currencies. We particularly like how rewarding the Wells Fargo travel credit cards can be in everyday spending categories.
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