Capital One Venture vs. Chase Sapphire Preferred: Which Wins?
Choosing the right travel rewards credit card can feel overwhelming. With so many options promising the best perks, it’s tough to know where to start. Two popular contenders often top the list: the Capital One Venture Rewards Credit Card and the Chase Sapphire Preferred® Card.
Both cards offer enticing benefits, including rewards on spending and valuable travel perks. However, they cater to slightly different needs and spending habits. This comparison will break down everything you need to know about the Capital One Venture and Chase Sapphire Preferred, helping you decide which card is the perfect fit for your wallet.
We’ll delve into their earning structures, redemption options, annual fees, and additional benefits. By the end, you’ll have a clear understanding of the strengths and weaknesses of each card, enabling you to make an informed decision and maximize your rewards potential.
Specs at a Glance
| Feature | Capital One Venture | Chase Sapphire Preferred |
|---|---|---|
| Rewards on Travel | 2x miles on all purchases | 5x points on travel purchased through Chase Ultimate Rewards; 2x points on all other travel |
| Rewards on Dining | Not Applicable | 3x points on dining |
| Sign-Up Bonus | Earn a one-time bonus after you spend on purchases | Earn a one-time bonus after you spend on purchases |
| Foreign Transaction Fees | None | None |
| Intro APR | Not Applicable | Not Applicable |
| Annual Fee | $95 | $95 |
| Redemption Options | Travel, statement credit, gift cards, transfer miles | Travel, cash back, gift cards, transfer points |
| Travel Insurance | Travel accident insurance | Trip cancellation/interruption insurance, baggage delay insurance |
| Purchase Protection | Yes | Yes |
| Credit Needed | Excellent | Good to Excellent |
| Card Design | Metal Card | Metal Card |
| Transfer Partners | Yes | Yes |
Feature-by-Feature Breakdown
Annual Fee
- Capital One Venture: Has an annual fee of $95. This fee provides access to the card’s benefits, including travel rewards and purchase protections. A potential con is the ongoing cost, but it’s offset by rewards earning potential.
- Chase Sapphire Preferred: Also has an annual fee of $95. This fee unlocks a variety of travel and dining benefits, as well as the ability to transfer points to travel partners. The fee is a drawback, but the value of the benefits often outweighs it.
- Winner: Tie
Sign-Up Bonus
- Capital One Venture: Typically offers a bonus in the range of 60,000 to 75,000 miles after meeting a spending requirement within the first few months. This can be a significant boost to your rewards balance. The bonus’s value depends on how you redeem your miles.
- Chase Sapphire Preferred: Often features a sign-up bonus of around 60,000 points after spending a certain amount. These points can be very valuable, especially when transferred to travel partners. The spending requirement needs to be considered.
- Winner: Tie
Rewards Rate on Travel & Dining
- Capital One Venture: Earns a flat rate of 2x miles on every purchase, and 5x miles on hotels and rental cars booked through Capital One Travel. This simplicity is a major advantage.
- Chase Sapphire Preferred: Earns 5x points on travel purchased through Chase Ultimate Rewards, 3x points on dining, select streaming services, and online grocery purchases (excluding Walmart and Target), and 1x point on all other purchases. Offers higher rewards in specific categories.
- Winner: chase sapphire preferred
Rewards Rate on Other Spending
- Capital One Venture: Earns 2x miles on all purchases, making it simple to earn rewards on everyday spending.
- Chase Sapphire Preferred: Earns 1x points on all purchases outside of travel, dining, and select streaming services and online grocery purchases.
- Winner: capital one venture
Travel Benefits
- Capital One Venture: Offers travel benefits like no foreign transaction fees and travel accident insurance. However, the benefits are less comprehensive than some premium travel cards.
- Chase Sapphire Preferred: Provides benefits such as no foreign transaction fees, trip cancellation/interruption insurance, and baggage delay insurance. These benefits can provide peace of mind while traveling.
- Winner: chase sapphire preferred
Transfer Partners
- Capital One Venture: Allows you to transfer miles to various airline and hotel partners, potentially increasing the value of your rewards. Partner availability may be less extensive.
- Chase Sapphire Preferred: Provides access to a robust network of airline and hotel transfer partners, which is a key advantage for maximizing point value.
- Winner: chase sapphire preferred
Redemption Options
- Capital One Venture: Offers flexible redemption options, including statement credits for travel purchases, booking travel through Capital One Travel, and transferring to travel partners. The redemption value varies.
- Chase Sapphire Preferred: Allows redemption for travel through Chase Ultimate Rewards at a slightly enhanced rate, transfer to travel partners, cash back, and other options. Redemption value can be quite good.
- Winner: chase sapphire preferred
Introductory APR
- Capital One Venture: Typically offers an introductory APR on purchases and balance transfers. This can be helpful for managing debt, but the rate reverts after the introductory period.
- Chase Sapphire Preferred: May offer an introductory APR on purchases and balance transfers, which can be useful for reducing interest charges. Post-introductory APRs can be high.
- Winner: Tie
Winner by Category
| Category | Winner |
|---|---|
| Rewards on All Purchases | Capital One Venture |
| Rewards on Travel (excluding Chase portal) | Chase Sapphire Preferred |
| Rewards on Dining | Chase Sapphire Preferred |
| Travel Benefits | Chase Sapphire Preferred |
| Simplicity | Capital One Venture |
| Flexibility | Chase Sapphire Preferred |
What They Have in Common
- Annual Fee: Both cards have an annual fee of $95, making them comparable in terms of ongoing cost.
- Foreign Transaction Fees: Neither card charges foreign transaction fees, making them suitable for international travel.
- Purchase Protection: Both cards offer purchase protection, covering eligible purchases against damage or theft.
- Sign-Up Bonus: Both cards offer a sign-up bonus, providing new cardholders with an initial boost of rewards.
- Metal Card: Both cards are made of metal, providing a premium feel.
- Rewards Redemption: Both cards offer multiple ways to redeem rewards.
Capital One Venture Vs Chase Sapphire Preferred Buying Guide
Earning Rewards
Both the Capital One Venture and Chase Sapphire Preferred offer solid reward structures, but with key differences. The Venture card shines with its simplicity, earning a flat 2 miles per dollar on all purchases, making it easy to understand and maximize rewards. The Chase Sapphire Preferred, on the other hand, offers a tiered system. You’ll earn 5x points on travel purchased through Chase Ultimate Rewards, 3x points on dining, select streaming services, and online grocery purchases, and 1x point on all other purchases. Consider your spending habits. If you spend a lot on dining and travel, the Sapphire Preferred might be better. If you prefer simplicity, the Venture card is a good choice.
Redemption Options
Both cards provide various redemption options, but the value differs. Capital One Venture miles are most valuable when redeemed for travel purchases (at a value of 1 cent per mile). You can also redeem them for cash back or gift cards, but the value is often lower. Chase Sapphire Preferred points are also best used for travel through the Chase Ultimate Rewards portal, where points are worth 1.25 cents each. You can also transfer points to travel partners like United and Hyatt for potentially higher value or redeem for cash back. Consider which redemption options align better with your travel goals.
Annual Fees
Annual fees play a crucial role in deciding which card is best. The Chase Sapphire Preferred has an annual fee of $95. The Capital One Venture card has an annual fee of $95. Consider if the perks and rewards outweigh the fee for your spending habits. If you’re not a frequent traveler or don’t spend enough to offset the fee through rewards, a no-annual-fee card might be more suitable. However, both cards offer enough benefits to justify the fee for many cardholders, especially if you utilize travel perks.
Travel Benefits
Both cards offer valuable travel benefits. The Chase Sapphire Preferred offers primary rental car insurance, trip cancellation/interruption insurance, and baggage delay insurance. These benefits can save you money and provide peace of mind while traveling. The Capital One Venture card has secondary rental car insurance, trip cancellation/interruption coverage, and lost luggage reimbursement. Both cards offer no foreign transaction fees, a crucial benefit for international travel. Consider the amount of travel and the value you place on these protections.
Welcome Bonus
Welcome bonuses can significantly boost your rewards earnings in the first year. Both cards regularly offer attractive welcome bonuses for new cardholders. The Chase Sapphire Preferred often has a bonus after you spend a certain amount in the first few months. Capital One Venture also offers a bonus after meeting a spending requirement. Compare the bonus amounts and the spending requirements to determine which one offers a better value proposition for your spending. Read the fine print to understand the terms and conditions associated with the bonus.
Additional Perks
Besides rewards and travel benefits, both cards come with additional perks. The Chase Sapphire Preferred offers benefits like DoorDash credits, and Instacart credits. Capital One Venture provides benefits such as access to Capital One Entertainment, and purchase protection. Evaluate which perks you’re most likely to use. Consider if these additional benefits add enough value to make the card a compelling choice. Weigh the value against other cards with similar benefits to see which one best fits your lifestyle.
Who Should Buy What?
Buy Capital One Venture If…
- You prefer a simple rewards structure with 2x miles on all purchases.
- You value the ease of redeeming miles for travel or statement credit.
- You want a card with a lower credit score requirement.
- You frequently make purchases outside of travel and dining categories.
Buy Chase Sapphire Preferred If…
- You prioritize earning bonus rewards on travel and dining.
- You are willing to use the Chase Ultimate Rewards portal for travel bookings.
- You value the additional travel insurance benefits.
- You want the flexibility of transferring points to various travel partners.
Frequently Asked Questions
What is the Capital One Venture card’s main benefit?
The Capital One Venture card’s main benefit is its simplicity and earning potential. It offers 2 miles per dollar on all purchases, making it easy to earn rewards without tracking bonus categories. It’s a great choice for those who want a straightforward rewards card with flexible redemption options, primarily for travel purchases.
What is the Chase Sapphire Preferred card’s main benefit?
The Chase Sapphire Preferred’s main benefit is its earning potential on specific spending categories and its travel perks. It offers bonus points on dining, travel, and select streaming services. Plus, it provides access to the Chase Ultimate Rewards portal, offering enhanced value when redeeming points for travel.
How do I redeem rewards with Capital One Venture?
You can redeem Capital One Venture miles for travel purchases at a value of 1 cent per mile through the purchase eraser, or transfer to select travel partners. You can also redeem for cash back, statement credit, or gift cards, but the value may be lower. The best value is usually for travel.
How do I redeem rewards with Chase Sapphire Preferred?
You can redeem Chase Sapphire Preferred points for travel through the Chase Ultimate Rewards portal at a value of 1.25 cents per point. Points can also be transferred to travel partners for potentially higher value. Other options include cash back, gift cards, and more, but with potentially lower value.
Which card is better for international travel?
Both cards are excellent for international travel. Both the Capital One Venture and Chase Sapphire Preferred have no foreign transaction fees, which means you won’t be charged extra fees when making purchases abroad. This makes both cards a convenient and cost-effective choice for international travelers.
What credit score is required to get approved for these cards?
Both cards typically require a good to excellent credit score for approval. Generally, a credit score of 670 or higher is recommended, but the specific requirements can vary. Factors like your credit history, income, and overall financial profile are also considered by the issuers.
Are there any drawbacks to either card?
Both cards have drawbacks. Capital One Venture lacks some of the transfer partners that the Chase Sapphire Preferred offers. The Chase Sapphire Preferred has a higher annual fee. The best card depends on your spending habits and priorities. Consider your spending patterns and redemption preferences.
Final Verdict
Both the Capital One Venture and Chase Sapphire Preferred cards offer strong value, but they cater to different needs. The simplicity and flat-rate earning of the Venture card make it attractive for those who prioritize ease of use. The Sapphire Preferred’s bonus categories and transfer partners offer greater potential for maximizing rewards for those who spend heavily on dining and travel. Consider your spending habits and travel goals to determine which card best suits your lifestyle.
Winner: [Chase Sapphire Preferred]