Should I get both Amex Gold and Chase Sapphire?
Should I get both Amex Gold and Chase Sapphire?
Should I Get Both Amex Gold and Chase Sapphire?
If youāre trying to decide whether to apply for both the American Express Gold Card and the Chase Sapphire Preferred or Reserve, youāre not alone. Many travelers and rewards enthusiasts find themselves weighing the benefits of these two popular credit cards to maximize points, perks, and overall value. Both cards offer unique benefits and excel in different categories, but is it worth holding both? In this detailed guide, weāll break down what each card brings to the table, who should consider combining them, and how to make the most of your rewards if you decide to get both.
Understanding the Amex Gold and Chase Sapphire Cards
Overview of the Amex Gold Card
The American Express Gold Card is often praised for its generous rewards on dining and groceries, plus some travel benefits. Itās tailored for food lovers and people who spend heavily on eating out or buying groceries. Here are the key features:
- Earn 4X Membership Rewards points at restaurants worldwide.
- Earn 4X points at U.S. supermarkets on up to $25,000 per year in purchases (then 1X).
- Earn 3X points on flights booked directly with airlines or on amextravel.com.
- Monthly dining credits: Up to $10 per month at select restaurants, totaling $120 a year.
- Airline fee credit: Up to $100 annually for incidental fees with a selected airline.
- Annual fee: $250 (as of 2024).
Overview of the Chase Sapphire Cards
Chase offers two main versions in the Sapphire lineup: the Chase Sapphire Preferred and the Chase Sapphire Reserve. Both focus heavily on travel rewards with flexible redemption options through Chase Ultimate RewardsĀ®.
Chase Sapphire Preferred
- Earn 5X points on Lyft rides through March 2025.
- Earn 3X points on travel and dining.
- Points worth 25% more when redeemed for travel via Chase Ultimate Rewards.
- Travel insurance and purchase protections.
- Annual fee: $95.
Chase Sapphire Reserve
- Earn 10X points on Lyft rides through March 2025.
- Earn 3X points on dining and travel.
- Points worth 50% more when redeemed for travel through Chase Ultimate Rewards.
- $300 annual travel credit.
- Priority Pass Select membership for airport lounges.
- Annual fee: $550.
How Do These Cards Complement Each Other?
One of the biggest attractions of having both the Amex Gold and Chase Sapphire cards is their ability to complement each other, giving cardholders more opportunities to earn points across a wider range of everyday spending categories. Hereās why many ask, āShould I get both Amex Gold and Chase Sapphire?ā
Maximize Rewards on Dining and Groceries
The Amex Gold is known for its 4X points on restaurants and U.S. supermarkets, making it an ideal daily-use card for these categories. The Chase Sapphire cards provide solid but more general rewards on dining and travel at 3X points, so pairing the two lets you channel spend for the highest return:
- Use Amex Gold for groceries and dining out.
- Use Chase Sapphire for travel bookings and other travel-related purchases.
Redeeming Points More Flexibly
Each card earns points in a different rewards program: Amex Membership Rewards and Chase Ultimate Rewards. This opens up more possibilities when redeeming points:
- Amex points transfer to airlines like Delta, British Airways, and more.
- Chase points transfer to partners including United, Southwest, and Hyatt.
- Redeem Chase Sapphire points at a higher value for travel through their portal.
- Allows diversification of travel redemption options depending on your preferred airlines and hotels.
Benefits and Credits Add Up
Both cards offer travel-related and dining credits that can offset their annual fees if used properly:
- Amex Goldās $10 monthly dining statement credit (mainly for certain chains like Grubhub, The Cheesecake Factory, etc.) equals $120 yearly.
- Chase Sapphire Reserveās $300 annual travel credit is broad and easy to use on most travel expenses.
- Amexās $100 airline fee credit for baggage fees and more.
Who Should Consider Getting Both Cards?
While holding multiple credit cards isnāt for everyone, here are the types of users who could benefit most from having both the Amex Gold and a Chase Sapphire card:
- Frequent travelers: The combined benefits and points flexibility make traveling more affordable and rewarding.
- Foodies and grocery shoppers: The Amex Gold rewards these spend categories far better than most cards.
- Points maximizers: Those who enjoy transferring points to various travel partners for better value.
- People who can use both cards’ credits fully: If you can take advantage of the credits to offset the fees, the net cost is lower.
Potential Drawbacks of Having Both
Before deciding to get both, itās important to consider the potential downsides:
- High combined annual fees: The Amex Gold charges $250 and the Chase Sapphire Reserve $550 or Preferred $95āholding both increases your annual cost substantially.
- Managing multiple rewards currencies: Membership Rewards and Ultimate Rewards points are separate programs requiring different management and redemption strategies.
- Credit impact: Applying for multiple premium cards in a short period can cause minor credit score fluctuations.
- Overlapping benefits: Some perks like primary rental car insurance or purchase protections may overlap, so evaluate if this redundancy is valuable to you.
How to Strategically Use Amex Gold and Chase Sapphire Together
To get the most from having both the Amex Gold and Chase Sapphire cards, consider the following tips:
1. Split Your Spending Based on Reward Categories
- Use Amex Gold for all your restaurant meals and grocery shopping where you can earn 4X points.
- Use Chase Sapphire Reserve or Preferred for travel purchases such as flights, hotels, car rentals, and dining out when not covered by Amex Gold.
- For Lyft rides through March 2025, prioritize using your Chase Sapphire card for greater points.
2. Use Credits to Offset Annual Fees
- Make sure to take full advantage of the Amex Goldās dining credits and airline fee credit.
- Use the Chase Sapphire Reserveās $300 travel credit to cover flights, hotels, or other travel expenses.
3. Combine Points Strategically
- Plan your redemptions so you transfer points to the best airline or hotel partners based on your travel plans.
- Consider using points from one program to top off bookings and enhance travel experiences.
- Use Chaseās Ultimate Rewards portal for increased redemption value if you have the Sapphire Reserve or Preferred.
4. Monitor Annual Fee Value
- If you find that youāre not fully utilizing the credits or rewards, reassess whether keeping both cards makes financial sense.
- Sometimes downgrading or canceling one card can be more cost-effective.
Common User Questions Based on Google Searches
Is it okay to have both Amex Gold and Chase Sapphire?
Yes, it is fine to hold both cards if you can benefit from their combined rewards and perks. Many users do to maximize rewards across various categories. However, consider your spending habits and whether you can justify the combined fees.
Which card should I use for dining: Amex Gold or Chase Sapphire?
In most cases, Amex Gold wins for dining purchases due to its 4X points on restaurants. Chase Sapphire cards offer 3X on dining but are generally better for travel-related expenses. Use the Amex Gold when dining out, and Chase Sapphire for travel or Lyft rides.
Can you combine points from Amex and Chase?
No, you cannot combine Membership Rewards points from Amex with Ultimate Rewards points from Chase. They are separate rewards programs. However, having both expands your options since you can transfer points to different airline and hotel partners depending on your itinerary.
Is the annual fee for both cards worth it?
It depends on how well you use the benefits and credits. If you actively use the dining and airline credits on the Amex Gold and the $300 travel credit on the Chase Sapphire Reserve, the net annual fee becomes more manageable. Plus, the rewards earned on everyday spending can translate into significant travel value if redeemed wisely.
Final Tips Before Applying
- Check your credit score: Both cards require good to excellent credit.
- Understand application rules: Keep in mind Chaseās 5/24 rule to avoid rejection when applying for a Sapphire card.
- Consider your spending patterns: If you spend heavily on dining and groceries, and also travel frequently, holding both cards can be advantageous.
- Review ongoing offers and welcome bonuses: Both Amex Gold and Chase Sapphire often have lucrative sign-up bonuses which can boost your points balance right away.
By carefully weighing the benefits, fees, and how you plan to redeem your points, you can decide if applying for both the Amex Gold and Chase Sapphire cards is the right move to enhance your rewards strategy and travel experiences.
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Should I Get Both Amex Gold and Chase Sapphire?
Choosing the right credit cards can be a game-changer for maximizing rewards and perks. If youāre considering the Amex Gold and Chase Sapphire cards, youāre on the right track. Both are popular for travel and dining rewards, but they excel in different areas. The Amex Gold shines with enhanced rewards on groceries and restaurants in the U.S., while the Chase Sapphire cards (Preferred or Reserve) offer excellent travel protections, flexible points redemption, and strong travel category bonuses. By combining both, you can unlock a powerful synergy of benefits that covers more spending categories and travel perks.
Before deciding, consider your spending habits, annual fees, and how often you travel or dine out. You can leverage Amex Gold for everyday expenses like groceries and dining and use Chase Sapphire for booking travel and accessing premium protections. Together, these cards can maximize your rewards earning potential and provide more flexibility when redeeming points via transfer partners or travel portals.
Conclusion
In summary, getting both the Amex Gold and Chase Sapphire cards may be an excellent strategy if you want to optimize rewards across multiple spending areas. Amex Gold offers valuable rewards on groceries, dining, and U.S. supermarkets, making it ideal for everyday use. Meanwhile, the Chase Sapphire card delivers better value on travel spending, enhanced travel protections, and flexible redemption options through the Chase Ultimate Rewards program. By combining both cards, you gain a diversified reward strategy that maximizes points accumulation and redemption flexibility. Be mindful of the combined annual fees and ensure your spending justifies the cost. If you frequently dine out, travel, and spend on groceries, carrying both cards could dramatically elevate your rewards and perks. In the end, these two cards complement each other well and allow you to build a strong, versatile credit card portfolio tailored to American consumers eager to make the most of their daily spend and travel adventures.
Frequently Asked Questions
1. Can I apply for Amex Gold and Chase Sapphire at the same time?
Yes, you can apply for both cards simultaneously, but consider your credit score and recent applications. Chase has strict approval rules, so space applications accordingly.
2. Which card is better for dining rewards?
Amex Gold offers 4x points on dining at restaurants worldwide, making it superior for dining compared to Chase Sapphire Preferredās 3x points.
3. Does the Amex Gold cover groceries better?
Yes, Amex Gold earns 4x points at U.S. supermarkets, up to $25,000 per year, which is a top-tier grocery rewards rate.
4. Which card offers better travel insurance?
Chase Sapphire Reserve provides superior travel protections, including trip cancellation, delay, primary rental car insurance, and more.
5. What are the annual fees for both cards?
Amex Gold’s fee is $250, Chase Sapphire Preferred is $95, and Chase Sapphire Reserve is $550 annually.
6. Can I transfer points between Amex and Chase?
No, points cannot be transferred directly, but both have valuable airline and hotel transfer partners for redemption.
7. Is it worth paying both annual fees?
If your spending aligns with bonus categories and you use travel perks, holding both can justify the combined fees.
8. How do I maximize rewards using both cards?
Use Amex Gold for groceries and dining, and Chase Sapphire for travel bookings and general spending to maximize point earnings.
9. Do both cards offer welcome bonuses?
Yes, both cards typically have substantial sign-up bonuses, which can add significant point value when you meet the minimum spend.
10. Are these cards accepted worldwide?
Chase Sapphire cards are Visa, widely accepted globally. Amex is less accepted internationally but improving, especially at major merchants.
11. Can I add authorized users on both cards?
Yes, both cards allow authorized users to earn points and enjoy select benefits; fees vary by card.
12. Which card has better point redemption flexibility?
Chase Sapphire points through Ultimate Rewards offer broader redemption options, including travel portals and transfers.
13. Does Amex Gold offer any dining credits?
Yes, it typically includes up to $120 yearly in dining credits at select restaurants and food delivery services.
14. Is there foreign transaction fees on these cards?
Neither the Amex Gold nor Chase Sapphire cards charge foreign transaction fees, great for international travel.
15. How important is credit score for approval?
You generally need a good to excellent credit score (700+) for approval on either card to qualify for the best bonuses.
