Chase Ultimate Rewards vs Amex Membership Rewards for Ad Spend
Chase Ultimate Rewards and American Express Membership Rewards are the two most valuable transferable point currencies in the US market. Both have credible category coverage for ad spend. The difference comes down to earn rate, redemption ceiling, and partner overlap.
By Editorial Team · Media buyer research desk
Published June 8, 2026 · 7 min read · How we review
Earn rate on Meta spend
Amex MR via Business Gold: 4x up to $150K/year. Chase UR via Ink Preferred: 3x up to $150K/year. On equal spend, Amex out-earns Chase by 33%. Round 1 = Amex.
Realized redemption value
MR average sweet-spot value: 2.0 cents/point (ANA, Hyatt via Marriott, Air France). UR average sweet-spot value: 2.2 cents/point (Hyatt direct, United, Air Canada). Round 2 = Chase by ~10%.
Net per dollar spent on ads
Amex: 4 MR x 2.0 cents = 8.0% effective return. Chase: 3 UR x 2.2 cents = 6.6% effective return. Amex wins on raw return per ad dollar by ~21%. The 4x category does the heavy lifting.
Partner overlap matters more than people admit
Both transfer to Air France/KLM, British Airways, Marriott, JetBlue, Virgin Atlantic. Only Amex has Delta, ANA, Singapore. Only Chase has Hyatt, United, Southwest. If your travel pattern leans toward Hyatt and United — Chase wins regardless of earn rate.
Why most agencies hold both
Diversification. Devaluations happen to both currencies. Holding both lets you pivot when one program nerfs a sweet spot. The cost is one extra annual fee — usually offset within a single month of normal ad spend.
Takeaway
Amex MR earns more per ad dollar. Chase UR redeems higher per point on average. Most serious media buyers hold both — the diversification is worth the second fee.