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Why I Replaced My Amex Gold Card With This Powerful Chase Credit Card Duo

Stella Shon's image
Stella Shon
Updated: 
Edited by: Jessica Merritt
& Jestan Mendame
Why I Replaced My Amex Gold Card With This Powerful Chase Credit Card Duo
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Earning points and miles with rewards credit cards requires an initial investment. The best travel cards typically have annual fees — sometimes costing hundreds of dollars — though you can come out ahead by maximizing benefits, using rewards strategically, and, most importantly, paying your balance in full every month.

That’s largely why the American Express® Gold Card has been a staple in my wallet for years. With 4x points at restaurants worldwide (up to $50,000 per year, then 1x) and 4x points at U.S. supermarkets (up to $25,000 per year, then 1x), this card has helped me earn hundreds of thousands of points.

But when its annual fee increased to $325 (rates & fees) last year, this drastic change was enough to give me pause. I wondered if there were more affordable alternatives that allow me to earn comparable points.

I replaced my Amex Gold card with a more budget-friendly duo: the Chase Sapphire Preferred® Card and the Chase Freedom Unlimited®. Here’s why.

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The Chase Sapphire Preferred card charges a $95 annual fee, while the Freedom Unlimited card has a $0 annual fee. Although I’m swapping 1 card for 2, my total annual fee charges are much lower.

Chase Sapphire Preferred Sapphire Reserve Amex Gold Dining 3 Upgraded Points LLC
There are many credit cards out there, so the choice comes down to what’s best for your lifestyle. Image Credit: Upgraded Points

Fortunately, Chase makes it easy to manage multiple cards by displaying all statement balances and due dates on a single dashboard. By familiarizing myself with each card’s earning rates, I can easily determine which one to use for maximum rewards:

  • Chase Sapphire Preferred card: 5x points on Chase Travel purchases, 3x points on dining, select streaming, and online groceries, and 2x points on all other travel purchases
  • Freedom Unlimited card: 3% cash-back at drugstores and 1.5% cash-back on all other purchases

With the Chase Sapphire Preferred card, you can instantly convert all cash-back earnings from the Freedom Unlimited card into Ultimate Rewards points. This allows you to take full advantage of the Chase Sapphire Preferred card’s travel perks, including 1:1 transfers to airline and hotel loyalty programs and the ability to redeem points at 1.25 cents each through Chase Travel.

Chase Credit Cards vs. Amex Gold Card

The Chase Sapphire Preferred card offers 3x points at restaurants with no earning cap, so the difference between 4x and 3x points isn’t significant enough to be a deal-breaker for me. However, the biggest drawback is I lose the ability to earn 4x points at U.S. supermarkets (up to $25,000 per year, then 1x) on the Amex Gold card.

While that earning rate is phenomenal, it does come with certain limitations. If I travel internationally, I won’t earn bonus points at the supermarket. I also shop a lot at Costco, where the Amex Gold card doesn’t do me any good because only Visa cards are accepted.

Southwest Gift Cards Costco
Did you know you can get discounted Southwest gift cards at Costco? Image Credit: Stella Shon

For most grocery store purchases, I use my Freedom Unlimited card (a Visa card) to earn 1.5x points. However, for online grocery orders — such as pickup, delivery, or meal kit services — I switch to the Chase Sapphire Preferred card to earn the 3x points rate. In addition, Instacart qualifies as an online grocery purchase, so I can still earn 3x points.

After years of earning (and burning) points and miles, I’ve realized that Chase Ultimate Rewards is my all-time favorite award currency. While Amex Membership Rewards offers an extensive list of transfer partners, I especially appreciate Chase’s partnership with World of Hyatt.

To be fair, the Amex Gold Card offers several statement credits (some requiring enrollment) that help travelers get more value. However, since most of these credits must be used monthly without rolling over, keeping track of them and maximizing their value can feel like a chore.

Bottom Line:

Although I’ll use 2 credit cards instead of just 1 to maximize my everyday spending, I’m looking forward to saving over $200 in annual fees.

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Chase’s Elevated Welcome Offers

If you don’t have the Chase Sapphire Preferred card or Freedom Unlimited card, now’s a great time to apply. The Chase Sapphire Preferred card has brought back its incredible 100,000-point welcome bonus offer, which we haven’t seen in 4 years. Meanwhile, the Freedom Unlimited card comes with a higher $250 welcome bonus, equating to 25,000 bonus points — not bad for a $0-annual-fee credit card.

Here’s a recap of each Chase credit card and its limited-time welcome bonus offer:

  • Chase Sapphire Preferred card: Earn 100,000 points after spending $5,000 on purchases in the first 3 months.
  • Freedom Unlimited card: Earn a $250 bonus after spending $500 on purchases within the first 3 months.
LIMITED-TIME OFFER
Chase Sapphire Preferred® CardTerms Apply / Rates & Fees
Chase Sapphire Preferred® Card
Star rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating icon
U.P. Rating 
The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.

Apply Now(at Chase's secure site)
Chase Sapphire Preferred® Card
A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.
Earn 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
100,000 points
$2,000
$95
19.99% - 28.24% Variable
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent
Why We Like This Card

The Chase Sapphire Preferred® card is one of the best travel rewards cards on the market. Its bonus categories include travel, dining, online grocery purchases, and streaming services, which gives you the opportunity to earn lots of bonus points on these purchases.

Additionally, it offers flexible point redemption options, no foreign transaction fees, and excellent travel insurance coverage including primary car rental insurance. With benefits like these, it’s easy to see why this card is an excellent choice for any traveler.

Pros & Cons
Pros
  • 5x points on all travel booked via the Chase Travel portal
  • 3x points on dining purchases, online grocery purchases, and select streaming services
  • 2x points on all other travel worldwide
Cons
  • $95 annual fee
  • No elite benefits like airport lounge access or hotel elite status
Read Full Review
Card Highlights
  • Earn 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
  • Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
  • Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
  • Member FDIC
Financial Snapshot
  • APR: 19.99% - 28.24% Variable
  • Foreign Transaction Fees: None
Rewards Center

Chase Ultimate Rewards

LIMITED-TIME OFFER
Chase Freedom Unlimited®Terms Apply / Rates & Fees
Chase Freedom Unlimited®
Star rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating icon
U.P. Rating 
The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!

Apply Now(at Chase's secure site)
Chase Freedom Unlimited®
This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!
Earn a $250 Bonus after you spend $500 on purchases in your first 3 months from account opening.
$250
$0
0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.99% - 28.49%.
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent
Why We Like This Card

The Chase Freedom Unlimited® is easily one of the best cash-back credit cards on the market. There aren’t many no-annual-fee credit cards that offer multiple great bonus categories like 5% back on travel purchased through Chase, 3% back on dining and drugstore purchases, and 1.5% back on all other purchases.

When paired with other Chase cards in the Ultimate Rewards family, you can transfer that cash back into points if you wish – making it one of the most lucrative cards in your wallet.

Pros & Cons
Pros
  • 5% back on travel purchased through Chase Travel℠
  • 3% back on dining and drugstore purchases
  • 1.5% back on all other purchases
Cons
    • 3% foreign transaction fee
Read Full Review
Card Highlights
  • Limited Time Intro Offer: Earn a $250 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • Enjoy 5% cash back on travel purchased through Chase TravelSM, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases.
  • No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
  • Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.99% – 28.49%.
  • No annual fee – You won’t have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
  • Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
  • Member FDIC
Financial Snapshot
  • APR: 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.99% - 28.49%.
  • Foreign Transaction Fees: 3% of each transaction in U.S. dollars
Rewards Center

Chase Ultimate Rewards

Final Thoughts

The Amex Gold card has served me well for years, but combining the Chase Sapphire Preferred card and Freedom Unlimited card is a solid alternative. With the improved welcome offers, allowing you to earn up to 125,000 bonus points, now’s the best time to pick up a card (or 2) if you don’t already have either in your wallet.

Featured Image Credit: Upgraded Points
Stella Shon's image

About Stella Shon

With a degree in media and journalism, Stella has been in the points and miles game for more than 6 years. She most recently worked as a Corporate Communications Analyst for JetBlue. Find her work in The New York Times, USA Today, and more.

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