Overview
- In mid-June 2026 Chase rolled out a refreshed Sapphire Preferred that adds a limited 100,000‑point welcome bonus, new bonus categories and credits, and a changed World of Hyatt transfer ratio for new accounts.
- The cards now sit on different value tracks: Sapphire Preferred has a $95 fee and simpler, easy-to-use credits plus stronger travel protections, while Amex Gold charges $325 and offers a larger but fragmented set of monthly partner credits that require active use.
- Earning patterns diverge sharply: Amex Gold pays best-in-class rates on restaurants and U.S. supermarkets, while Sapphire Preferred gives broader bonus rates on travel, streaming, gas and online groceries that suit varied household spending.
- Point use and partner access differ in practical ways that affect redemption value: reviewers value both currencies at roughly 1.7¢ per point, but the refreshed Sapphire uses a 4:3 Hyatt transfer ratio for new accounts and Amex adds a small excise tax when transferring to some U.S. airlines.
- Most reviewers say Sapphire Preferred is the easier default for most cardholders, Amex Gold is worth it for heavy food spenders, and many households will benefit most by holding both cards to capture complementary earnings and protections.