Chase Ultimate Rewards vs Amex Membership Rewards
Two bank currencies that share half their partners. What separates them is the other half — and which of those you will actually fly or stay with.
Pick the currency whose exclusive partners you will use. Chase alone reaches United, Southwest, World of Hyatt, IHG and Wyndham; Amex alone reaches Delta, ANA, Cathay Pacific, Qatar, Emirates and Hilton, with 16 US airlines to Chase's 10. Both move points 1:1 to Avios, Flying Blue, Aeroplan, Singapore and Virgin, and neither expires while its card stays open.
Chase UR against Amex MR.
| Chase UR | Amex MR | |
|---|---|---|
| Transfer partners (US) | 10 airlines, 4 hotel programs | 16 airlines, 4 hotel programs |
| Airlines at 1:1 | 10 of 10 | 12 of 16 |
| Only this bank reaches | Southwest, United, IHG, Wyndham, Hyatt | Aeromexico, ANA, Avianca, Cathay Pacific, Delta, Emirates, Qantas, Qatar Airways, Choice, Hilton, Leading Hotels of the World |
| Both reach | 9 programs, including Avios, Flying Blue, Aeroplan, KrisFlyer and Virgin | The same 9 |
| Where the ratio differs | JetBlue at 1:1 | JetBlue at 5:4 |
| Expiry | Never — but points are forfeited if you close the Chase card they sit in | Never — but points are forfeited if you close your last Membership Rewards-earning Card, or for an unpaid billing period |
| Outside the US | A US program only | A separate UK program with its own partner list |
Lean Chase if…
- You fly United or Southwest, which only Chase reaches.
- You stay at Hyatt — the most valuable hotel point, and not an Amex partner.
- You want every airline partner at 1:1, with no ratio to check.
Lean Amex if…
- You fly Delta, which only Amex reaches.
- You want the widest airline list — ANA, Cathay Pacific, Qatar and Emirates among the extras.
- You live in the UK, where Membership Rewards exists and Ultimate Rewards does not.
60,000 points, worked through
Sent to Avios, Flying Blue or Virgin, 60,000 points arrive the same from either bank — every shared airline except JetBlue is 1:1 on both sides. At JetBlue they don't: 60,000 TrueBlue points from Chase, 48,000 from Amex.
So the ratio rarely decides it; the partner list does. The same balance can fly United only from Chase and Delta only from Amex, so the better currency is the one that reaches the airline or hotel you would book anyway.
Where these numbers come from: Chase ten airline and four hotel partners; transfers need a Sapphire Preferred, Sapphire Reserve or Ink Business Preferred card (September 2026); Upgraded Points all airline partners and IHG, Marriott and Wyndham at 1:1; Hyatt 4:3 for Sapphire Preferred (new cardmembers from 15 June 2026, existing from 1 October 2026) and Ink Business Preferred (from 1 October 2026), 1:1 for Sapphire Reserve (25 June 2026); Thrifty Traveler US Membership Rewards: sixteen airlines and four hotels, Cathay Pacific and Emirates at 5:4, JetBlue 1.25:1, Aeromexico 1:1.6, Hilton 1:2, Leading Hotels of the World 4:1; Etihad and Hawaiian removed (18 August 2026); Frequent Miler Wyndham Rewards added as a Chase transfer partner, “on a 1,000:1,000 basis” (25 February 2026); awardtravelfinder the same US ratios, JetBlue written 1:0.8; Leading Hotels of the World added July 2026 (September 2026); Frequent Miler Etihad Guest dropped as a Membership Rewards transfer partner on 30 June 2026 (June 2026); Head for Points UK: Avios, Virgin, Flying Blue, Cathay, Delta, Qantas, SAS and Nectar 1:1; Singapore 3:2; Emirates 2:1; Hilton 1:2; Marriott 2:3; Radisson 1:3; Club Eurostar 15:1; ALL Accor 3:1 (24 August 2026); Max Your Trip the same UK ratios, except ALL Accor at 2:1; Etihad ended 22 June 2026 (5 August 2026); Chase “your Chase Ultimate Rewards® points do not expire—as long as you keep your credit card account open”; switch them to another open Chase card before closing, “otherwise, you will lose the unused points” (September 2026); AwardWallet no inactivity expiry while the account is open; closing the card forfeits the points (15 February 2026); American Express “Membership Rewards points do not have expiration dates.” If you cancel and hold no other Amex Card, unredeemed points are forfeited immediately (September 2026). Valuations are estimates and programs devalue, so treat every figure as the position on the date beside it and check the live price before booking.
Amex to Avios
American Express Membership Rewards points transfer to Avios at 1:1, so 10,000 points become 10,000 Avios. Transfers are usually instant once your Avios account is linked, though Amex asks you to allow up to 72 hours. Periodic transfer bonuses of roughly 15 to 30 per cent are the easiest way to boost the rate.
Chase transfer partners
Chase Ultimate Rewards points transfer to 14 partners: ten airlines, including United, Southwest, British Airways, Air Canada Aeroplan and Flying Blue, and four hotel programs — IHG, Marriott, Wyndham and World of Hyatt. All are 1:1 except Hyatt, which is 4:3 from a Sapphire Preferred or Ink Business Preferred by 1 October 2026.
Amex transfer partners
US American Express Membership Rewards points transfer to 16 airlines and 4 hotel programs. Most airlines, including Delta, British Airways, Air Canada Aeroplan and Flying Blue, are 1:1; Cathay Pacific, Emirates and JetBlue are 5:4, Aeromexico 1:1.6 and Hilton 1:2. UK Membership Rewards has its own list, with Emirates at 2:1 and Marriott at 2:3.
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