Chase’s Sapphire Preferred® Card is aimed straight at owners of the long loved American Express Gold Card®. People like the American Express cards for the ‘Membership Rewards’ program that lets you transfer them into the miles of several airlines at 1:1, as well as a large assortment of gift cards. What you might not know is that Chase allows 1:1 mile transfers as well via its Ultimate Rewards program, including United Airlines — and it now offers 2x points on all dining and travel purchases, with no foreign transaction fees and a lower annual fee.
Looking at the table below you’ll see at least 8 ways the Sapphire Preferred® Card has better features…
|Card||American Express Gold||Chase Sapphire Preferred||Advantage|
|Annual Fee||$125 (reg) $175 (Premier Rewards)||$95||Chase|
|Earning||Regular: 1 point/$; Premier Rewards: 3x airfare, 2x gas/groceries, 1x all else||2x dining and travel, 1x all else||Chase|
|Annual bonus||Premier Rewards: 15,000 points after $30,000 in spending||7% annual bonus on all points earned (even if you spent them during the year)||Similar|
|Car rental insurance||Yes, secondary coverage||Yes, secondary coverage||Similar|
|Foreign transaction fee||3% of purchases||No fee||Chase|
|Lost baggage insurance||Yes, up to $500 checked, $1,250 carry-on||Yes, up to $3,000||Chase|
|1:1 Point transfer||Delta, Air Canada, British Airways, Virgin Atlantic, JetBlue, Air France / KLM, AeroMexico, AirTran, ANA, ElAl, Hawaiian, Iberia, and Singapore Airlines. Hotels include Priority Club (Holiday Inn, Intercontinental, Crowne Plaza), Hilton, and Best Western.||Continental/United, British Airways, Amtrak, Hyatt, Marriott, Priority Club, Korean Airlines||Similar|
|Purchase protection||Yes, up to $1,000 per claim||Yes, up to $500 per claim||Amex|
|Return protection||Yes, up to $300 per item, $1,000 per year||Yes, up to $500 per item, $1,000 per year||Chase|
|Travel accident insurance||$250,000||$500,000||Chase|
|Trip Delay Insurance||No - must pay extra fee||Yes, up to $300 for 18 hour+ delays. $100/day for baggage delays up to 5 days.||Chase|
|Warranty extension||Yes, up to 1 year||Yes, up to 1 year||Similar|
Chase is the only way to earn United miles at full value via credit card spend. All of Chase Sapphire Preferred® Card’s travel partners offer 1:1 transfer to mileage accounts and of course you can redeem your Ultimate Rewards points for hundreds of gift cards or merchandise, just as you can with American Express Membership Rewards. For a full comparison of Ultimate Rewards from Chase and Membership Rewards from American Express, click here.
Now American Express has some perks like better seating at some Broadway shows and well regarded customer service, but we think Chase is trying very hard to win market share and will continue offering new benefits and place hard emphasis on customer service.
Old habits are hard to break, but breaking this one could earn you more points and save you more money with better benefits. It’s a consumer’s market for premium credit cards right now.
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