Chase Sapphire Preferred vs. Capital One Venture: Which Wins?
Choosing the right travel rewards credit card can feel overwhelming, but it doesn’t have to be. Are you dreaming of free flights and hotel stays? Then you’re in the right place to discover the best card for your needs.
Today, we’re diving deep into a head-to-head comparison of two of the most popular travel cards: the Chase Sapphire Preferred® Card and the Capital One Venture Rewards Credit Card. These cards both offer enticing rewards and benefits, but they cater to different spending habits and travel styles.
We’ll break down the key features of each card, including rewards rates, annual fees, and other perks, to help you determine which one is the ultimate winner. Get ready to explore the exciting world of travel rewards and find the perfect card to fuel your adventures. Let’s get started!
Specs at a Glance:
| Feature | Chase Sapphire Preferred | Capital One Venture |
|---|---|---|
| Annual Fee | $95 | $95 |
| Rewards on Travel | 5x on travel purchased through Chase Ultimate Rewards, 2x on other travel | 5x on hotels and rental cars booked through Capital One Travel |
| Rewards on Dining | 3x | 2x |
| Rewards on Other Purchases | 1x | 1x |
| Welcome Bonus | Earn 60,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening. | Earn 75,000 bonus miles after spending $4,000 on purchases in the first 3 months from account opening. |
| Foreign Transaction Fee | None | None |
| Travel Insurance | Yes (Trip Cancellation/Interruption, etc.) | Yes (Trip Cancellation/Interruption, etc.) |
| Purchase Protection | Yes | Yes |
| Extended Warranty | Yes | Yes |
| Redemption Options | Travel, Cash Back, Gift Cards, Transfer to Partners | Travel, Cash Back, Transfer to Partners |
| Transfer Partners | Yes (Airlines and Hotels) | Yes (Airlines and Hotels) |
| Credit Needed | Excellent | Excellent |
Feature-by-Feature Breakdown
Annual Fee
- Chase Sapphire Preferred: $95 annual fee. Offers good value with its points earning and redemption options, but the fee can be a barrier for some.
- Capital One Venture: $95 annual fee. Similar annual fee to the CSP. The value comes from its rewards program and travel benefits.
- Winner: Tie
Rewards Rate on Travel & Dining
- Chase Sapphire Preferred: Earns 5x points on travel purchased through Chase Ultimate Rewards, 3x points on dining, and 1x point on all other purchases. Excellent for frequent travelers and foodies.
- Capital One Venture: Earns 5x miles on hotels and rental cars booked through Capital One Travel, and 2x miles on all other purchases. A simpler earning structure.
- Winner: Chase Sapphire Preferred
Rewards Rate on Other Spending
- Chase Sapphire Preferred: 1x point on all other purchases. While the bonus categories are limited, it provides a solid base earning rate.
- Capital One Venture: 2x miles on all purchases. Offers a consistent earning rate across all spending categories.
- Winner: Capital One Venture
Sign-Up Bonus
- Chase Sapphire Preferred: Offers a sign-up bonus when you meet the spending requirement within the first few months. The bonus can provide a significant boost to your points balance.
- Capital One Venture: Offers a sign-up bonus when you meet the spending requirement within the first few months. The bonus can provide a significant boost to your miles balance.
- Winner: Tie
Travel Benefits
- Chase Sapphire Preferred: Includes trip cancellation/interruption insurance, baggage delay insurance, and no foreign transaction fees. Provides valuable peace of mind.
- Capital One Venture: Includes no foreign transaction fees, but the travel insurance benefits may not be as comprehensive as the CSP.
- Winner: Chase Sapphire Preferred
Redemption Options
- Chase Sapphire Preferred: Points can be redeemed for travel through Chase Ultimate Rewards at a 1.25x value, transferred to airline and hotel partners, cash back, and other options. Offers flexibility.
- Capital One Venture: Miles can be redeemed for travel purchases at a 1 cent per mile value, or transferred to partner airlines. Straightforward redemption process.
- Winner: Chase Sapphire Preferred
Foreign Transaction Fees
- Chase Sapphire Preferred: No foreign transaction fees. Makes it ideal for international travel.
- Capital One Venture: No foreign transaction fees. Makes it ideal for international travel.
- Winner: Tie
APR
- Chase Sapphire Preferred: Offers a variable APR on purchases and balance transfers.
- Capital One Venture: Offers a variable APR on purchases and balance transfers.
- Winner: Tie
Winner by Category:
| Category | Winner |
|---|---|
| Welcome Bonus | Capital One Venture |
| Rewards on Travel (excluding portal) | Chase Sapphire Preferred |
| Rewards on Dining | Chase Sapphire Preferred |
| Flexibility in Redemption | Tie |
| Transfer Partners | Chase Sapphire Preferred |
| Overall Value | Tie |
What They Have in Common:
- Annual Fee: Both cards have an annual fee of $95, making them a similar value proposition in terms of ongoing costs. This fee contributes to the benefits and rewards offered by each card.
- Foreign Transaction Fees: Both cards waive foreign transaction fees, making them suitable for international travel and purchases. This feature helps cardholders avoid extra charges when spending abroad.
- Travel Insurance: Both cards offer some form of travel insurance, such as trip cancellation/interruption coverage. This provides peace of mind for unexpected travel disruptions.
- Purchase Protection: Both cards include purchase protection, safeguarding eligible purchases against damage or theft within a specified period. This offers added security for cardholders’ purchases.
- Extended Warranty: Both cards offer extended warranty protection, which extends the manufacturer’s warranty on eligible purchases. This can be beneficial for protecting larger purchases.
- Rewards on Travel: Both cards offer rewards on travel spending, though the specifics of the rewards structure differ. This makes them ideal for travelers.
Chase Sapphire Preferred Vs Capital One Venture Buying Guide
Earning Rewards
Both the Chase Sapphire Preferred and Capital One Venture cards offer attractive rewards programs, but they differ in structure. The Chase Sapphire Preferred excels in bonus categories like travel and dining, offering elevated rewards on these purchases. This makes it ideal for those who spend heavily in these areas. Capital One Venture, on the other hand, provides a simpler, flat-rate rewards system, earning a consistent rate on all purchases. This simplicity is appealing to those who prefer not to track spending categories.
Consider your spending habits. If you dine out often or travel frequently, the Chase Sapphire Preferred’s bonus categories could yield more rewards. If you prefer a straightforward approach and spend across a variety of categories, Capital One Venture might be a better fit.
Redeeming Rewards
Redemption options are a key differentiator. Chase Sapphire Preferred offers valuable redemption options, especially through the Chase Ultimate Rewards portal, where points can be redeemed for travel with a 25% value increase. You can also transfer points to travel partners for potentially even greater value. Capital One Venture focuses on simplicity, primarily offering rewards redemption for travel purchases as statement credits.
The flexibility and potential value of Chase Ultimate Rewards, including transfer partners, generally give it an edge. Capital One Venture’s simplicity makes it easy to use, though its value may be slightly less.
Annual Fees & Benefits
Both cards have annual fees, but the benefits associated with each card vary. The Chase Sapphire Preferred has a moderate annual fee, but offers valuable perks, such as a $50 annual hotel credit and primary rental car insurance. Capital One Venture has a similar annual fee, and provides benefits like travel insurance and no foreign transaction fees. These benefits are important to consider when evaluating the overall value of each card.
Evaluate your spending habits and travel needs. If you travel frequently, the benefits of the Chase Sapphire Preferred may outweigh its annual fee. If you value simpler benefits, Capital One Venture could be a good choice.
Travel Perks & Insurance
Travel perks and insurance are a significant aspect. Chase Sapphire Preferred includes primary rental car insurance, trip cancellation/interruption insurance, and baggage delay insurance, providing robust coverage. Capital One Venture offers secondary rental car insurance, travel accident insurance, and no foreign transaction fees. These features make it suitable for international travelers.
The Chase Sapphire Preferred offers more comprehensive coverage. Consider the extent of the travel insurance coverage that aligns with your needs.
Transfer Partners vs. Simplicity
Chase Sapphire Preferred’s strength lies in its transfer partners, which include airlines and hotels, allowing you to maximize the value of your points. Capital One Venture prioritizes simplicity, with a straightforward rewards structure and easy redemption for statement credits on travel purchases. The Chase Sapphire Preferred demands slightly more effort to optimize redemptions.
Decide whether you value the potential for greater rewards through transfer partners (Chase) or prefer the ease and simplicity of a flat-rate rewards system (Capital One).
Credit Score Requirements
Both cards generally require good to excellent credit scores for approval. However, the exact credit score needed can vary depending on the applicant’s overall credit profile. A strong credit history, including a history of on-time payments and low credit utilization, will increase your chances of approval for either card. Applicants with less established credit may find it challenging to get approved for either card.
Review your credit report before applying. Ensure you meet the necessary credit score requirements. If needed, focus on improving your credit profile before applying.
Who Should Buy What?
Buy Chase Sapphire Preferred If…
- You value the ability to transfer points to a variety of airline and hotel partners for potentially greater value.
- You frequently dine out and want to earn bonus rewards on dining purchases.
- You prefer the flexibility of redeeming points for travel through the Chase Ultimate Rewards portal or transferring them to partners.
- You want a card with a well-regarded rewards program and strong customer service.
Buy Capital One Venture If…
- You prefer a simpler rewards structure and are looking for easy-to-use miles.
- You want a card with a higher welcome bonus.
- You prefer the flexibility of redeeming miles for any travel purchase, not just those booked through a portal.
- You value the simplicity of the Capital One rewards program and its ease of redemption.
Frequently Asked Questions
What is the annual fee for Chase Sapphire Preferred and Capital One Venture?
Both the Chase Sapphire Preferred and Capital One Venture have an annual fee. However, the exact amount can change. Check the most current information on the card issuer’s website to confirm the fee. These fees are a key factor in evaluating the overall value proposition of each card and how it aligns with your spending habits and reward redemption plans.
What are the rewards rates for each card?
Chase Sapphire Preferred offers bonus rewards on select categories, such as travel and dining, and a base rate on all other purchases. Capital One Venture provides a flat-rate rewards structure, earning a consistent rate on all purchases. The specific rates are available on the card issuer’s website, and these rates should be considered when assessing the cards.
How do I redeem rewards points?
Chase Sapphire Preferred offers redemption options through the Chase Ultimate Rewards portal, including travel bookings and statement credits, and the ability to transfer points to travel partners. Capital One Venture primarily allows you to redeem rewards for travel purchases as statement credits. Redemption methods differ, but both offer travel rewards.
Do either card offer a sign-up bonus?
Yes, both cards often offer a sign-up bonus for new cardholders, which can be a significant boost to your initial rewards earnings. The bonus is typically awarded after meeting a minimum spending requirement within a certain timeframe. The bonus amount and the spending requirements vary, so check the latest offers.
Which card is better for international travel?
Both cards are suitable for international travel, as they both have no foreign transaction fees. The Capital One Venture card may be slightly preferable due to its simpler reward structure. The Chase Sapphire Preferred has more robust travel insurance that may provide additional benefits. Consider your specific needs and preferences.
Can I transfer points to other rewards programs?
Chase Sapphire Preferred allows you to transfer points to various airline and hotel partners, which can significantly increase the value of your points. Capital One Venture does not offer transfer partners, but you can redeem your rewards for travel purchases. The transfer partners give Chase an edge in maximizing rewards.
What credit score is required for approval?
Both cards typically require good to excellent credit scores for approval. This generally means a credit score of 670 or higher. However, approval also depends on your overall credit profile, including your payment history, credit utilization, and the length of your credit history. Check your credit report before applying.
Final Verdict
The Chase Sapphire Preferred and Capital One Venture are both excellent travel cards, but cater to different preferences. The Chase Sapphire Preferred shines with its bonus categories and transfer partners, offering greater potential rewards for those who optimize redemptions. Capital One Venture simplifies the process with a flat-rate earning structure and easy redemption. The best choice depends on your spending habits and reward priorities.
Winner: Chase Sapphire Preferred