Amex vs. Chase Cash-Back: Which One Reigns Supreme?
Cash-back cards are a popular choice for those seeking straightforward rewards that can enhance or even offset their daily expenses. Both American Express and Chase offer a robust selection of cash-back credit cards, each packed with benefits. However, their differences make selecting the ultimate option a tough decision.
In this article, we’ll take a close look at Amex and Chase cash-back cards and compare their strengths to help you make the best choice.
American Express Cash-Back Cards
- American Express Cash Magnet® Card: Ideal for those new to Amex
- Blue Cash Preferred® Card from American Express: Best for maximizing cash rewards
- Blue Cash Everyday® Card from American Express: Great for beginners looking to earn cash back
- The American Express Blue Business Cash™ Card: Perfect for flat-rate rewards
The details for the Amex Cash Magnet Card have been gathered independently by Dinogo. These card details have not been verified or provided by the issuer.
Chase Cash-Back Cards
- Chase Freedom Unlimited®: Perfect for personal flat-rate rewards
- Chase Freedom Flex®: Best for category-based bonuses
- Ink Business Cash® Credit Card: Ideal for small business expenses
- Ink Business Unlimited® Credit Card: Great for businesses spending over $50,000 with flat-rate rewards
Comparing Amex vs. Chase Personal Cash-Back Cards
| American Express Cash Magnet Card | Blue Cash Preferred Card from American Express | Blue Cash Everyday Card from American Express | Chase Freedom Unlimited | Chase Freedom Flex | |
|---|---|---|---|---|---|
| Welcome offer | $200 statement credit after you spend $2,000 in the first six months | Earn a $250 statement credit after you spend $3,000 in purchases on your new card within the first six months
$0 Buy Now, Pay Later introductory Plan It fees on plans created during the first 12 months from the date of account opening | Earn a $200 statement credit after you spend $2,000 in purchases on your new card within the first six months of card membership
$0 Buy Now, Pay Later introductory Plan It fees on plans created during the first 15 months from the date of account opening | Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) — up to $300 cash back | $200 bonus after you spend $500 on purchases in the first three months from account opening
|
| Bonus categories | N/A | 6% cash back on purchases at U.S. supermarkets (on up to $6,000 of spending each calendar year, then 1%) and on select U.S. streaming subscriptions
3% on transit and at U.S. gas stations Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout. Terms apply | 3% cash back on U.S. supermarkets (up to $6,000 per calendar year; then 1%)
3% on U.S. online retail purchases (up to $6,000 per calendar year; then 1%) 3% at U.S. gas stations (up to $6,000 per calendar year; then 1%) Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout. Terms apply | 5% on travel purchased through Chase Travel℠
3% on dining at restaurants, including takeout and eligible delivery services 3% on drugstore purchases | 5% on up to $1,500 on combined purchases in bonus categories each quarter you activate
5% on travel purchased through Chase Travel℠ 3% on dining at restaurants, including takeout and eligible delivery services 3% on drugstore purchases |
| All other eligible purchases | 1.5% cash back
Terms apply | 1% cash back
Terms apply | 1% cash back
Terms apply | 1.5% cash back | 1% cash back |
| Annual fee | $0 | $0 introductory annual fee, then $95 (see rates and fees) | $0 (see rates and fees) | $0 | $0 |
Comparing Amex and Chase Business Cash-Back Cards
| American Express Blue Business Cash Card | Ink Business Cash Credit Card | Ink Business Unlimited Credit Card | |
|---|---|---|---|
| Welcome offer | Earn a $250 statement credit after you spend $3,000 in eligible purchases on your new card within the first three months
| $350 cash back after you spend $3,000 on purchases in the first three months of account opening, plus an additional $400 when you spend $6,000 on purchases in the first six months after account opening | $750 cash back after spending $6,000 on purchases in the first three months from account opening |
| Bonus categories | 2% cash back on all eligible purchases up to $50,000 per calendar year, then 1% | 5% cash back on the first $25,000 spent in combined purchases at office supply stores, on internet, cable and phone services
2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
| N/A |
| All other eligible purchases | N/A | 1% | 1.5% |
| Annual fee | $0 (see rates and fees) | $0 | $0 |
Which Amex or Chase Cash-Back Card is Best for Personal Use?
The ideal Amex or Chase card for personal use largely depends on how you take advantage of its bonus categories and rewards. Pay close attention to welcome offers, as they often provide a great opportunity to earn a significant amount of cash back right from the start.
FRESHSPLASH/GETTY IMAGESTop Welcome Offer for Personal Cards
At first glance, the Chase Freedom Unlimited offers one of the best welcome offers, featuring an additional 1.5% cash back on all purchases. While you can earn up to $300 in cash back, it requires spending up to $20,000 and strategically using bonus categories, which might be challenging for those without high spending habits.
DinogoThe Blue Cash Preferred Card from American Express offers a $250 statement credit if you spend $3,000 on your new card within the first six months. However, it carries a $95 annual fee after the first year (see rates and fees), unlike many other cash-back cards that come with no annual fee.
For the highest possible bonus on a personal card, choose Amex. Chase cash-back cards could be a better option if you prefer a no-annual-fee card with a lower spending threshold.
Most Rewarding Personal Cash-Back Card for Spending
Once you’ve earned the welcome bonus, what keeps you using the card is its ongoing earning potential. Both Amex and Chase cash-back cards offer attractive category bonuses. The “most rewarding” card is highly subjective, as it depends on your spending habits and preferences.
The Chase Freedom Unlimited offers an extensive range of category bonuses, including 5% cash back on travel booked through Chase Travel, 3% on dining (including eligible delivery services), and 3% at drugstores. While it doesn’t provide bonus cash back at gas stations or grocery stores, the 1.5% standard earning rate compensates for this. Additionally, rewards earned can be converted into transferable Ultimate Rewards points if you hold another card that earns them.
KLAUS VEDFELT/GETTY IMAGESThe Blue Cash Preferred Card from American Express offers 6% cash back on the first $6,000 spent at U.S. supermarkets per year (1% after that) and on select U.S. streaming subscriptions. However, it comes with a $95 annual fee (see rates and fees).
Alternatively, the Chase Freedom Flex could be a better option, offering 5% cash back on up to $1,500 of rotating categories each quarter when activated. Additionally, it provides 5% cash back on travel booked through Chase Travel and 3% on dining, restaurants, and drugstore purchases.
Ultimately, the best card for you depends on your spending patterns, but when it comes to category bonuses, Chase cash-back cards tend to lead the pack.
Which Amex or Chase Cash-Back Card is Best for Business Use?
When comparing business cash-back cards, Chase outshines American Express with two cards offering higher welcome bonuses. As a business owner, your spending habits depend on your business's size and where you allocate funds. It’s crucial to select a card that rewards you for the categories where you spend most frequently.
Top Welcome Offers for Business Cards
The Ink Business Cash Credit Card and Ink Business Unlimited Credit Card are the standout options. The Ink Business Cash offers up to $350 in cash back after spending $3,000 in the first three months, plus an additional $400 after spending $6,000 within the first six months. Meanwhile, the Ink Business Unlimited gives you $750 cash back after spending $6,000 in the first three months.
DinogoThe welcome offer for the American Express Blue Business Cash Card is more modest. You’ll receive a $250 statement credit after spending $3,000 on purchases within the first three months of opening your account.
Most Rewarding Business Cash-Back Card for Spending
The American Express Blue Business Cash Card offers a straightforward rewards structure, while the Ink Business Cash Credit Card delivers higher earnings in select categories. The Blue Business card provides 2% cash back on the first $50,000 spent on eligible purchases each year (then 1%). It’s perfect for those who prefer simplicity without keeping track of multiple bonus categories across different cards.
PEOPLEIMAGES/GETTY IMAGESFor those looking to maximize rewards in common business categories, the Ink Business Cash card offers superior benefits. It earns 5% cash back on the first $25,000 spent each year on office supplies and select telecom services (1% after that). Additionally, it offers 2% cash back at gas stations and restaurants on the first $25,000 each year, making it a strong option for everyday business expenses.
Amex and Chase offer distinct cash-back cards tailored to different customer needs. Consider your spending habits to determine which card aligns best with your financial goals.
Top Recurring Card Perks
While cash-back cards aren’t typically known for their travel perks, both Amex and Chase provide valuable recurring benefits that can enhance your overall rewards experience.
Statement Credits
Amex cash-back cards offer exclusive access to Amex Offers, a rotating selection of deals from popular merchants that provide statement credits and bonus points.
AMERICAN EXPRESSWhile many other banks offer syncing deals, none quite compare to the value of Amex Offers. For instance, Chase often provides 10% cash back at popular retailers, but these deals typically cap at $20 or less. Amex, on the other hand, offers higher-value promotions that make its cash-back cards even more rewarding.
Shopping
Chase compensates for this with a variety of other perks. For example, Chase Freedom Unlimited and Freedom Flex cardholders receive three months of free DoorDash DashPass membership, three months of free Instacart+ membership (including $10 quarterly statement credits), and 5% cash back on Lyft rides through March 2025.
Depending on your shopping habits, these Chase perks may offer more value than the shopping benefits you'd get with an Amex card.
Refer-a-Friend Bonuses
Amex cash-back cards have a notable edge when it comes to refer-a-friend bonuses. Both Amex and Chase offer opportunities for cardholders to earn bonus points for successful referrals.
Here are the current refer-a-friend bonuses Chase cardholders can earn when referring someone who gets approved for a card:
| Chase Freedom Unlimited
Chase Freedom Flex | Ink Business Cash Credit Card
Ink Business Unlimited Credit Card |
|---|---|
| $50 cash back per approval, up to $500 per year | 40,000 bonus points per approval, up to 200,000 |
As a cardholder of the Ink Business Preferred® Credit Card, I’ve made the most of refer-a-friend links. Over the past year, I've earned 80,000 bonus Chase Ultimate Rewards points from successful referrals of various Chase Ink cards to friends and family.
While Amex offers referral bonuses, they tend to be less predictable and are often limited to certain cards. If you're looking to maximize rewards through referrals, a Chase card would be the better choice.
Flexibility
One major benefit of Chase cash-back cards over Amex is the flexibility in redeeming rewards. Cash back can be converted into Ultimate Rewards points if you hold another Chase card, such as the Chase Sapphire Preferred® Card. This means that the 5% rotating category bonuses from the Chase Freedom Flex can be converted into 5 Ultimate Rewards points per dollar spent.
DinogoThis is a key advantage because TPG values Ultimate Rewards points at 2.05 cents each when redeemed for premium rewards. By converting cash back to points, you effectively double the value of your rewards.
Unlike Chase, Amex doesn't allow you to convert cash-back rewards into Membership Rewards points, which limits your redemption options compared to what you can do with a Chase cash-back card.
Conclusion
When comparing Amex and Chase cash-back cards, it’s essential to consider the various features that matter most to you. If flexibility in rewards and referral bonuses is a priority, Chase comes out on top. However, Amex takes the lead if you're looking for richer merchant offers. Keep in mind that you don't have to pick just one; combining cards from both issuers could create the ideal card combination for your wallet.
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