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- The Chase Sapphire Preferred Card and Capital One Venture Rewards Credit Card are two of the most popular rewards credit cards.
- Both cards offer excellent welcome bonuses and a variety of redemption options.
- The best card for you depends on your spending habits and how you like to redeem rewards.
- Read Insider’s guide to the best rewards credit cards.
Ladies and gentleman, boys and girls, children of all ages! In the blue corner, weighing in at 13 grams of blue stainless steel: the Chase Sapphire Preferred. In the red corner, made from a 75% recycled blue stainless steel and weighing in at 16 grams: the Capital One Venture Rewards Credit Card.
While both of these travel rewards credit cards are made from metal, each offers a unique set of rewards, benefits, and costs. Depending on where you spend most and how you like to travel, one may make more sense for your needs than the other (though it’s certainly possible to have both).
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Here’s a head-to-head face-off on which card dominates.
Comparison: Chase Sapphire Preferred vs Capital One Venture
| Capital One Venture Rewards Credit Card | ||
| Annual fee |
$95 |
$95 |
| Welcome bonus | Earn 80,000 points after you spend $4,000 on purchases in the first three months of account opening | Earn 100,000 bonus miles once you spend $20,000 on purchases within the first 12 months from account opening (or 50,000 miles if you spend $3,000 on purchases within the first 3 months) |
| Rewards rate |
5x points on Lyft rides through March 2022 2x points on travel and dining 1 point per dollar on everything else |
2x miles on every purchase |
| Card benefits |
Primary car rental insurance Trip interruption/cancellation Trip delay insurance Baggage delay insurance Lost luggage reimbursement Extended warranty Purchase protection |
Secondary car rental insurance Travel accident insurance Extended warranty |
| Statement credits |
Up to $60 back on an eligible Peloton Digital or All-Access Membership through December 31, 2021 Complimentary year of DoorDash DashPass membership (activation required by December 31, 2021) |
Up to $100 in statement credit toward the Global Entry or TSA PreCheck application fee every four years |
| Foreign transaction fee |
No |
No |
| Review | Capital One Venture card review |
The Chase Sapphire Preferred and Capital One Venture Rewards Credit Card are both travel rewards credit cards with similar annual fees. The way you earn and redeem rewards with each card is different, so it’s important to look at what sets them apart to decide which could be best for your needs.
The Chase Sapphire Preferred offers 2 points per dollar on travel and dining purchases and 1 point per dollar everywhere else. That compares to an unlimited flat 2x miles on all purchases with the Capital One Venture Rewards Credit Card. But Chase Ultimate Rewards points and Capital One miles work differently, and each may appeal to a different type of traveler.
In general, the Chase Sapphire Preferred is better for those who want to squeeze out more value per point and are willing to put in a little time to figure out the best way to redeem points with the Chase Ultimate Rewards program’s airline and hotel transfer partners.
The Capital One Venture Rewards Credit Card is better for those looking for really easy and flexible redemptions. To understand why, let’s dive into the details of each program and how the redemption options work.
How to use Ultimate Rewards points from the Chase Sapphire Preferred
Annual Fee
$95
Regular APR
15.99%-22.99% Variable
Credit Score
Good to Excellent
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Editor’s Rating
Annual Fee
$95
Regular APR
15.99%-22.99% Variable
Credit Score
Good to Excellent
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Editor’s Rating
Featured Reward
80,000 points
Pros
- High sign-up bonus starts you off with lots of points
- Strong travel coverage
Cons
- Doesn’t offer a Global Entry/TSA PreCheck application fee credit
- Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,000 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases within your first year of account opening.
- Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
- With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.
Read Our Review
The Chase Sapphire Preferred earns 2 points for every dollar you spend on travel and dining purchases, 5 points per dollar on Lyft rides through March 2022, and 1 point per dollar everywhere else. You can redeem points through the Chase Ultimate Rewards travel portal (with no limits or blackout dates) or toward select everyday purchases through Pay Yourself Back at a rate of 1.25 cents each through September 30, 2021.
Points can be worth a lot more, however, when you transfer to partner airlines. You can also transfer to hotel partners, but airlines tend to offer the best value. For example, I got a huge value when I took my dad to Israel in business class with Chase points transferred to my United account.
All Chase Ultimate Rewards transfers are at a 1:1 ratio, meaning 1 Chase point = 1 airline mile or 1 hotel point.
The Sapphire Preferred card lived in my wallet for a very long time until I decided to upgrade it to the ultra-premium Chase Sapphire Reserve. But I still think the Sapphire Preferred is the best card for people new to travel rewards. It gives you a ton of value, a lot of protections, and if you ever have any trouble, Chase customer support for these cards is very good.
Don’t overlook the value of the Sapphire Preferred‘s other benefits too. Chase helped my sister get her money back after a bad experience with an African tour guide operator. But that’s a story for another day.
The card charges a $95 annual fee and currently offers a bonus of 80,000 points after you spend $4,000 on purchases in the first three months after opening a new account. That starts you with at least $1,000 in value toward travel booked through Chase, and potentially even more if you transfer points to airline and hotel partners.
How to use Capital One Venture miles
Annual Fee
$95
Regular APR
17.24% to 24.49% variable
Credit Score
Good to Excellent
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Annual Fee
$95
Regular APR
17.24% to 24.49% variable
Credit Score
Good to Excellent
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Editor’s Rating
Featured Reward
Earn 100,000 bonus miles once you spend $20,000 on purchases within the first 12 months from account opening (or 50,000 miles if you spend $3,000 on purchases within the first 3 months)
Intro APR
N/A
Pros
- No bonus categories to keep track of
- Includes up to a $100 statement credit for Global Entry or TSA PreCheck
Cons
- Other credit cards offer higher rewards in certain categories of spending
- Annual Fee: $95
- Welcome Bonus: 100,000 bonus miles once you spend $20,000 on purchases within the first 12 months from account opening (or 50,000 miles if you spend $3,000 on purchases within the first 3 months)
Read Our Review
The Capital One Venture Rewards Credit Card earns 2 miles per dollar on every purchase, with no bonus categories to keep track of. You can redeem miles through Capital One’s portal with no blackout dates or restrictions with a value of 1 cent each. That means each purchase gives you an equivalent 2% cash back toward travel.
You can also use Capital One’s Purchase Eraser feature to “wipe” travel charges from your Venture card statement. You’ll also get 1 cent per mile with this redemption option. If you value simplicity above all else, this is the easiest way to put your Capital One Venture Rewards Credit Card‘s rewards to work for you.
It used to be that miles were only redeemable at a fixed rate toward travel, but Capital One now offers over a dozen airline and hotel partners, with varying transfer ratios:
There are a few noteworthy things about this list.
First, you’ll notice that it only contains one US airline — JetBlue — but offers a wide array of international airlines, including some of the most aspirational in the world — Singapore, Emirates, and Etihad often battle for the title of the world’s most luxurious airline.
It is also important to note that you can’t always transfer them at a 1:1 ratio. Because Venture miles may become fewer airline miles, you might get the best value by redeeming right through the Capital One portal. Like with Chase, you can always run the numbers for a specific flight to compare.
The card charges a $95 annual fee and currently offers a substantial bonus: Earn 100,000 bonus miles once you spend $20,000 on purchases within the first 12 months from account opening (or 50,000 miles if you spend $3,000 on purchases within the first 3 months).
Chase Sapphire Preferred and Capital One Venture benefits comparison
Both the Chase Sapphire Preferred and Capital One Venture Rewards Credit Card come with no foreign transaction fees and a wide range of travel and purchase coverage.
The Chase Sapphire Preferred includes trip cancellation insurance, primary car rental insurance, baggage delay insurance, trip delay insurance, and travel emergency assistance. At the checkout counter, it offers purchase protection and extended warranty on eligible items.
The Capital One Venture Rewards Credit Card comes with travel accident insurance, secondary car rental insurance, travel emergency assistance, and extended warranty on eligible purchases. One big benefit you don’t get with the competitor, in this case, is up to $100 credit for TSA’s Global Entry or PreCheck programs when you pay with the Capital One Venture Rewards Credit Card.
For benefits, Capital One’s card is a little lighter than what you get from Chase. Depending on how much you travel and the anticipated costs along the way, those insurance and protection benefits can be very valuable.
Should you choose the Chase Sapphire Preferred or Capital One Venture?
If I had to pick a winner, it would be the Chase Sapphire Preferred.
While Capital One Venture Rewards Credit Card gives you more miles per dollar across the board and offers more transfer partners, its airline partners won’t be as useful to many US travelers, and your miles don’t always transfer at a 1:1 ratio, so it’s harder to get outsized value.
Advanced travelers and those who are willing to research award availability on major US travel partners can get the best results from Chase Sapphire Preferred. Those who just want to keep things easy and flexible will enjoy the Capital One Venture Rewards Credit Card‘s structure a little more.
The Chase Sapphire Preferred also has the edge when it comes to travel protections like primary car rental insurance and trip delay insurance — hopefully, you don’t have to put these benefits to use, but if you do they can save you some serious cash. You’ve also got plenty of non-travel redemption options with the Chase Sapphire Preferred if you’re not ready to stray too far from home just yet.
Either way, regular travelers looking to get a travel rewards card with an annual fee of around $100 will do very well with one of these cards.
Eric Rosenberg is a finance, travel, and technology writer in Ventura, California. He has in-depth experience writing about banking, credit cards, investing, and other financial topics, and is an avid travel hacker.
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