Points Frog guide
American Express Membership Rewards vs Chase Ultimate Rewards
American Express Membership Rewards points are worth more as of October 13, 2026: an estimated 2.1¢ each against 2¢ for Chase Ultimate Rewards points, 5% more per point. 50,000 come to about $1,050 against $1,000.
Values updated
| Measure | American Express Membership Rewards | Chase Ultimate Rewards |
|---|---|---|
| Value per point | 2.1¢ | 2¢ |
| 10,000 worth | $210 | $200 |
| 50,000 worth | $1,050 | $1,000 |
| 100,000 worth | $2,100 | $2,000 |
| A great award | 2.52¢ or more a point | 2.4¢ or more a point |
| A poor award | under 1.89¢ a point | under 1.8¢ a point |
| Rewards currency | points | points |
| Run by | American Express | Chase |
| Ranked | 1 of 6, Transferable points | 3 of 6, Transferable points |
Values are Points Frog's estimates of one point redeemed for good, available awards, not cash-out or transfer rates. How we value points.
American Express Membership Rewards
Earned with: Amex Gold Card, Amex Platinum Card. Best cards by category
Chase Ultimate Rewards
Earned with: Chase Sapphire Preferred, Chase Sapphire Reserve. Best cards by category
Quick answers
Which is worth more, American Express Membership Rewards or Chase Ultimate Rewards?
American Express Membership Rewards points are worth more as of October 13, 2026: an estimated 2.1¢ each against 2¢ for Chase Ultimate Rewards points, 5% more per point. 50,000 come to about $1,050 against $1,000.
How many Chase Ultimate Rewards points equal 50,000 American Express Membership Rewards points?
About 52,500. At 2¢ each, that many points match the $1,050 estimated for 50,000 points at 2.1¢. This compares value only; the programs do not exchange points at this rate.
Is a higher value per point always better?
No. A program worth less per point can still win if it earns more points per dollar or per flight, or if its awards fly where you want to go. Compare what you would earn on your own spending and the awards you would book before choosing between American Express Membership Rewards and Chase Ultimate Rewards.
Where do these values come from?
Points Frog's valuation catalog estimates what one point is worth when redeemed for good, available travel awards, in US cents. It is an editorial average, not a cash-out rate, and each program's page shows its dated valuation history.