Chase Sapphire Preferred Card vs. Capital One Venture Rewards Credit Card [CNET]

Categorical rewards and flat-rate rewards face off in a $95 battle.

The Chase Sapphire Preferred® Card and Capital One Venture Rewards Credit Card* are two of the best travel credit cards. They both have a $95 annual fee and good welcome bonuses, but the reward structures and redemption methods differ considerably. 

While the Venture Rewards card may be better for users who prefer simplicity — thanks to its flat rewards rate on purchases — most cardholders will be able to net more overall value from the Chase Sapphire Preferred Card due to its unique rewards and redemption structures. And while the Venture card may have some travel perks that look appealing on first glance — like Capital One Lounge access — there are some stipulations to consider.

Comparing annual fees

Winner: Tie

Both the Venture and Sapphire Preferred have a $95 annual fee, so this is a clear tie. These cards are cheaper than “premium” cards with annual fees in the $500-$700 range, but $95 is still a significant chunk of change. You should expect better value than credit cards with no annual fee, and you’ll get it if you’re intentional. Just make sure you’re getting your money’s worth by comparing your projected rewards with a no-annual-fee option by reviewing your past two to three months of expenses.

Welcome offer

Winner: Venture

With the Venture, you’ll enjoy $250 to use on Capital One Travel in your first cardholder year, plus earn 75,000 bonus miles after spending $4,000 on purchases within the first three months of account opening. That’s equal to $1,000 in travel. 

The Sapphire Preferred, in comparison, offers 60,000 points after spending $4,000 in the first three months. If you redeem that for travel through Chase Travel℠, it’s worth $750, according to Chase.

However, you could potentially find an even higher per-point value if you take advantage of a point transfer to one of Chase’s travel partners, if you feel like doing that legwork.

Rewards

Winner: Chase Sapphire Preferred

The nice thing about the Capital One Venture’s rewards is that they’re consistent — 2x miles on all purchases. Yes, you get a boost (5x miles) on hotels, vacation rentals and rental cars booked through Capital One Travel, but other than that, you don’t have to worry about categories.

However, the Chase Sapphire Preferred’s reward categories are broad enough that the benefit is worth the minor hassle of remembering which categories have which rewards. Earning 3x points on dining, online grocery purchases (excluding Target, Walmart and wholesale clubs) and select streaming services, and 5x points on travel booked through Chase Travel℠ — not to mention the 2x on all other travel — makes it easy to earn outsized reward rates.

Redemption

Winner: Chase Sapphire Preferred

If you’re like me and you value consistent cash redemptions, both cards allow you to redeem rewards as a statement credit. With the Venture Rewards, however, the best value for a statement credit will be for travel purchases from the last 90 days, while Chase Ultimate Rewards can be redeemed consistently toward any purchase.

If you redeem your points toward travel, the Sapphire Preferred offers a nice 25% boost on redemption value as an incentive to do so (when redeeming through Chase Travel℠). This means your points could be worth 1.25 cents each instead of 1 cent. 

Finally, keep in mind that both cards offer the option for transferring points or miles to affiliate travel partners at a 1:1 ratio, where some consumers can sometimes find better than 1 cent per point of value. And as it happens, the partner lists are quite similar between Capital One and Chase.

How Chase Sapphire Preferred® Card and Capital One Venture Rewards Credit Card compare to other cards

CNET’S PICK

Intro Offer

60,000 bonus points Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Travel℠.

Annual fee

$95

APR

21.49% – 28.49% Variable

Intro Purchase APR

N/A

Recommended Credit A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.

Good – Excellent

Rewards rate

1x – 5x 5x on travel purchased through Chase Travel℠.; 3x on dining, select streaming services and online groceries.; 2x on all other travel purchases.; 1x on all other purchases.

Intro Offer

Earn 75,000 + $250 in Travel Credit Earn 75,000 miles once you spend $4,000 on purchases within the first 3 months of account opening, plus receive a one-time $250 Capital One Travel credit in your first cardholder year – that’s equal to $1,000 in travel

Annual fee

$95

APR

19.99% – 29.99% (Variable)

Intro Purchase APR

N/A

Recommended Credit A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.

Good – Excellent

Rewards rate

2x – 5x 5 Miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel; 2 Miles per dollar on every purchase, every day

Intro Offer

60,000 points + earn up to $100 back Earn 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership. Plus, receive 20% back in statement credits on eligible purchases made at restaurants worldwide within the first 6 months of Card Membership, up to $100 back. Limited time offer. Offer ends 11/6/24.

Annual fee

$325

APR

See Pay Over Time APR

Intro Purchase APR

N/A

Recommended Credit A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.

Good – Excellent

Rewards rate

1x – 4x Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.; Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.; Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.; Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.; Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.

FAQs

All information about the Capital One Venture Rewards Credit Card has been collected independently by CNET and has not been reviewed by the issuer.

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