Credit card showdown: Chase Sapphire Reserve vs. Amex Gold

Feb 22, 2021

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Update: Some offers mentioned below are no longer available. View the current offers here – Chase Sapphire Reserve

Editor’s note: This is a recurring post, regularly updated with new card details and information. 

When it comes to travel rewards cards, you usually get what you pay for in terms of bonus categories and perks. This is why we usually compare cards within a single category, to try and find the best premium rewards card or the best no-annual-fee cards.

The problem is, the American Express® Gold Card (now permanently available in Rose Gold) doesn’t fit cleanly into any category. It straddles the line between entry-level and premium, offering high-value foodie bonus categories at a manageable annual fee. Today we’re going to take a look at how it stacks up against the Chase Sapphire Reserve®, one of the all-around best cards for travel and dining.

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In This Post

Comparing the Chase Sapphire Reserve and Amex Gold

Let’s start with a quick overview of some of the highlights of each card. For more details, be sure to check out our full review of the Chase Sapphire Reserve and American Express Gold Card.

Chase Sapphire Reserve American Express® Gold Card
Annual fee $550 $250 (see rates & fees)
Welcome offer 50,000 Ultimate Rewards points after spending $4,000 in the first 3 months of account opening Earn 60,000 Membership Rewards® points after you spend $4,000 on eligible purchases with your new card within the first 6 months. (though you could be targeted for a higher offer through CardMatch) This offer is subject to change at any time.
Bonus categories 3x points on travel and dining, limited-time 3x COVID related bonuses on groceries (until April 30, 2021) 4x points at restaurants and at U.S. supermarkets (U.S. supermarkets capped at $25,000 per calendar year, then 1x), 3x on flights booked directly from the airline or, 1x everywhere else
Annual statement credits $300 annual travel credit (that is currently more flexible than normal)

Up to $10 monthly dining credit at the following partners: Grubhub, The Cheesecake Factory, Goldbelly,, Milk Bar, and select Shake Shack locations. Enrollment required. (up to $120 annually) (enrollment required for select benefits).

Up to $10 monthly Uber credit in the form of Uber Cash that can be used on U.S. Uber rides and Uber Eats orders (up to $120 annually)

Other card benefits Priority Pass Select membership, DoorDash DashPass membership and $60 in DoorDash statement credits for 2021, Lyft Pink membership, Global Entry / TSA PreCheck application fee credit, trip cancellation/interruption insurance, baggage loss and delay insurance (enrollment required for select benefits). Trip delay reimbursement, baggage loss or damage reimbursement, 2x points and up to a $100 property credit when booking eligible stays of two nights or more through the Amex Hotel Collection


Welcome offer/sign-up bonus

The sign-up bonus or welcome offer is the first thing many people look at when evaluating a new card. When you’re paying $250 or more in annual fees, it’s important to pick a card with a strong welcome bonus so you can start recouping that value right away.

The Chase Sapphire Reserve offers new applicants 50,000 Ultimate Rewards points after spending $4,000 on purchases in the first three months from account opening. Meanwhile, the Amex Gold Card offers 60,000 Membership Rewards® points after you spend $4,000 on eligible purchases with your new card within the first six months of card membership. TPG value Ultimate Rewards and Membership Rewards points equally at 2 cents apiece, making these bonuses worth $1,000 and $1,200, respectively.

However, you could potentially be targeted for 75,000 bonus Membership Rewards bonus points after spending $4,000 in the first three months for the Amex Gold through CardMatch (these offers are subject to change at any time). If you are targeted for this offer, the Amex Gold’s bonus beats out the Chase Sapphire Reserve —  75k points are worth a lucrative $1,500.

Related: Try TPG’s CardMatch tool to see if you pre-qualify for a higher welcome offer 

Of course, the bonus value is only one piece of the equation. You also need to make sure you’re eligible to apply for either of these cards, as both Chase and Amex have different restrictions on bonus eligibility.

With Chase, you have two considerations. First, the issuer’s 5/24 rule says that you’ll automatically be rejected if you’ve opened five or more cards across all issuers in the last 24 months (note that some business cards don’t count against your 5/24 tally). You also won’t be approved if you currently hold any Sapphire card or if you’ve earned a bonus on any Sapphire card in the last 48 months.

Amex, on the other hand, only allows you to earn the welcome offer on each card once per lifetime.

This means that if you’ve ever held the Amex Gold Card before (including the Amex Premier Rewards Gold Card before it was refreshed) you won’t be eligible to apply. While you’re filling out your application, you may also get a pop-up alerting that you that you’re not eligible for this offer based on your prior history with Amex. It’s unclear exactly what triggers this alert, but behaviors like closing cards after exactly one year (implying you just wanted the welcome bonus) appear to be red flags.

Winner: The Amex Gold beats out the CSR with a higher bonus valuation.

(Photo by John Gribben for The Points Guy)

Bonus categories

Here’s how the two cards stack up when it comes to earning points on your purchases:

Chase Sapphire Reserve American Express Gold Card
Earning rates 10x on Lyft through March 2022

3x on groceries through April 2021

3x on travel and dining

1x on all other purchases

See temporary bonus categories

4x at restaurants and U.S. supermarkets (U.S. supermarkets capped at $25,000 per calendar year, then 1x)

3x on flights booked directly from the airline or

1x on all other purchases

When the Chase Sapphire Reserve originally launched, it had two great things going for it: broadly defined bonus categories and a high points multiplier in two of the most popular spending categories. However, as the premium card landscape has continued to heat up, it’s lost some of its luster to cards such as the Amex Gold.

(Photo by Zach Griff/The Points Guy)

The Amex Gold is clearly designed to be a foodie-friendly card, and that’s reflected in the bonus categories.

That 4x on groceries (an 8% return based on TPG’s valuations) is one of the best earning rates you’ll find from any card. And even though the Reserve currently offers 3x on groceries, note that the offer ends in April 2021 while the Amex Gold earns on supermarkets permanently. The Amex Gold also has an edge when it comes to dining at restaurants, as its 4x points (8% return) again edge out the 3x (6%) on the Sapphire Reserve.

The cards tie for airfare purchases made directly with the airline, but the Sapphire Reserve is stronger for all other travel purchases. Things including hotels, group tours, rental cars, even parking meters and tolls all earn 3x points with the Sapphire versus 1x with the Amex Gold. Similar to The Platinum Card® from American Express, the Amex Gold’s airfare bonus is incredibly limited and only applies to purchases made directly with the airline or at

Winner: These cards clearly target slightly different audiences, but even before adjusting for the lower annual fee, the Amex Gold offers a higher earning potential.

Redemption options

TPG values Chase Ultimate Rewards points and Amex Membership Rewards points equally at 2 cents apiece, but the programs each have various strengths and weaknesses that could cause you to pick one over the other.

Air France 777-300ER Business class
Use your points to book an Air France 777-300ER business class seat. (Photo by Nick Ellis/The Points Guy)

For starters, the programs share a number of high-value transfer partners in common, including Virgin Atlantic, Singapore KrisFlyer, Air France-KLM Flying Blue, Emirates and British Airways.

If you’re primarily looking to fly long-haul premium cabin flights, you’ll probably get more value out of Amex points thanks to 1:1 transfer partners such as ANA and Air Canda Aeroplan. I personally find myself using Avianca LifeMiles for about ~50% of my redemptions these days, including flying EVA Air’s phenomenal business class between the U.S. and Asia for just 75,000 miles or taking advantage of an award sale to book Air China’s 747-8 first class for only 81,000 miles (10% off the already low normal rate).

Related: How to redeem American Express Membership Rewards for maximum value

While Chase has fewer airline transfer partners, it’s much better for those looking to redeem points for hotel stays, thanks to a 1:1 transfer option to World of Hyatt. Hyatt points are worth more than other hotel points, so while both Chase and Amex partner with Marriott with 1:1 transfers, transfers to Hyatt can be more lucrative than most other hotel transfer partners.

Free nights at top-tier Hyatt properties such as the Park Hyatt Sydney and Park Hyatt New York cost just 30,000 points, while you’d have to transfer 70,000-100,000 points to book a single night at Marriott’s most expensive hotels.

Park Hyatt New York (photo by Richard Kerr/The Points Guy)

Transfer partners are the best way to score an outsized value from your points, especially if you’re looking to stay at luxury hotels or fly in fancy premium cabins. However, if you value simplicity and flexibility, the Chase Sapphire Reserve offers another redemption option that might interest you.

When you redeem points for travel through the Chase portal you’ll get a 50% bonus, making your points worth 1.5 cents each.

Also keep in mind that Chase added a new Pay Yourself Back feature, which is currently allowing you to redeem points across some non-travel purchases at that same 50% bonus through April 2021.

You can use this option to book just about any airline seat that’s for sale without worrying about hunting down award space. Because these redemptions are technically cash bookings, you’ll also earn redeemable and elite qualifying miles on flights booked this way.

Winner: This category is ultimately a tie, as factors such as your travel preferences and home airport could easily push you to one program over the other. While I personally prefer earning and burning Amex points, I’d give the Chase Sapphire Reserve a slight edge in this comparison thanks to the 50% bonus when redeeming points through the Chase portal.

Card benefits

This is where we start to see the biggest differences arise, as the Chase Sapphire Reserve is a premium, luxury travel card with the perks to match. Let’s start with the most important benefit that can help offset the card’s $550 annual fee: a $300 annual travel credit. Similar to the 3x travel bonus category, this credit is automatically applied to a wide range of travel purchases including airfare, hotels and many other options.

The Wingtips Priority Pass Lounge at St. Louis Lambert International Airport (STL). (Photo courtesy of Wingtips/Facebook)

The Sapphire Reserve also comes with a full-fledged Priority Pass select membership, including guesting privileges and access to Priority Pass restaurants. Cardholders also get access to a premium concierge service, a Global Entry / TSA PreCheck application fee credit, a number of useful travel and baggage insurance policies and more. You’ll also get a minimum of one year of free food delivery with DoorDash DashPass, a $60 DoorDash statement credit in 2021, a Lyft Pink membership and 10x points on Lyft rides through March 2022.

Keeping with the card’s food-friendly theme, Amex Gold cardholders get a $10 monthly dining credit valid at the following merchants: Grubhub, The Cheesecake Factory, Goldbelly,, Milk Bar, and select Shake Shack locations. Enrollment required.. Amex also recently added up to $120 in annual Uber credits to the card — you’ll get up to $10 per month in the form of Uber Cash for rides or Uber Eats purchases. (enrollment required for select benefits). If you max out both of these benefits you’ll wind up with $240 in annual statement credits, almost completely erasing the card’s $250 annual fee (see rates and fees). Enrollment required for select benefits.

Related: How I get free lunch twice a month with this one card

The Amex Gold also offers insurance if your baggage is lost, damaged or stolen, trip delay reimbursement, and double points and up to a $100 property credit when booking stays of two nights or more through the Amex Hotel Collection.

Winner: It’s no surprise that the Chase Sapphire Reserve offers more perks in just about every category than the cheaper Amex Gold. Ultimately though, you’ll need to see which card’s benefits you’ll be able to use easily.

(Photo by The Points Guy)

Which card should you get?

Let me begin by saying that if you’re eligible for both of these cards, they make an all-star pairing and there’s a real case for having both in your wallet.

Diversifying your points between Chase and Amex can help you unlock higher value redemptions, and these two cards complement each other very well when it comes to earning, redeeming and benefits. Personally, these two cards occupy the top spots in my wallet. I use my Amex Gold for dining at restaurants and groceries at U.S. supermarkets and my Sapphire Reserve for all of my travel purchases. The combined food and travel benefits of these two cards work very well for me.

If you have to pick between one or the other, you’ll need to decide what you want out of your card. If you’re looking for the best possible earning rates or the lowest annual fee, the Amex Gold is an easy choice. If you’re looking for luxury travel benefits and you’re willing to pay more for them, the Sapphire Reserve is the way to go. You also need to think about the redemption side, and spend some time deciding whether your travel goals will be better served with Ultimate Rewards or Membership Rewards points.

Bottom line

Despite not technically being a premium card, the Amex Gold gives the Chase Sapphire Reserve a run for its money in several different categories. These two cards complement each other quite well, but they also target slightly different audiences. The Amex Gold is a go-to card for all things food-related, while the Sapphire Reserve is more focused on luxury travel experiences.

For rates and fees of the Amex Gold card, click here.

Featured image by The Points Guy staff. 

Additional reporting by Madison Blancaflor. 

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