Diners Club Club Rewards and American Express Membership Rewards have released their respective annual Rewards Catalogs. The Diners Club catalog (55 pages) and American Express catalog (83 pages) are both chock-full of spending opportunities, including everything from travel to electronics.

But what’s the real story? Who has the better deals? Some examples:

A Fisher Ultra-Slim 3-CD Stereo with motorized doors will run you 55,000 Club Rewards points, but only 30,000 Membership Rewards points.

A $100 certificate for Coach costs 10,000 Membership Rewards points and 20,000 Club Rewards points.

Generally, you’ll find better deals with Amex. Diner’s Club has a heck of a program (five Freddies vouch for that), but not necessarily based on merchandise redemption alone.