Chase Sapphire Preferred® Card vs. Capital One Venture Rewards Credit Card – Which is Better in 2024?
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The Chase Sapphire Preferred® Card and Capital One Venture Rewards Credit Card are competitive options when you’re seeking an affordable and flexible travel rewards credit card.
Both products make it easy to earn travel rewards. However, the cards have different redemption options and additional benefits. It’s worth comparing the differences between the Chase Sapphire Preferred and the Capital One Venture to determine which one you can maximize to improve your travel experience.
Table of Contents
Benefits At A Glance
| Sapphire Preferred | Venture Rewards | |
|---|---|---|
| Annual Fee | $95 | $95 |
| Authorized User Fee | None | None |
| Welcome Bonus Offer | 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 Ultimate Rewards®. | Enjoy a one-time bonus of 75,000 Miles once you spend $4,000 on purchases within 3 months from account opening |
| Purchase Rewards | ||
| Travel Redemption Bonus | 25% | None |
| Airport Lounge Benefits | None | 2 one-time visits per year |
| Notable Benefits | ||
| Foreign Transaction Fee | None | None |
Annual Fee
The annual fee is $95 for the primary card and you can add authorized users for free with either card.
This pricing is competitive with similar travel credit cards. The annual fee is reasonable for both cards, but you must travel regularly and use some of the card’s additional benefits to offset this upfront cost.
Welcome Bonus Offer & Early Spend Bonus
Both cards have a similar signup bonus redemption value when you redeem your points for award travel.
Chase Sapphire Preferred
The Sapphire Preferred signup bonus is 60,000 Ultimate Rewards points after spending $4,000 in the first 3 months. This bonus is worth $750 when redeemed for award travel through the Chase Ultimate Rewards booking site thanks to the 25% travel redemption bonus. It can be worth potentially more when transferred to the airline or hotel transfer partners.
Further Reading: Chase Sapphire Preferred Current Bonus Points Offer
Capital One Venture Rewards
New cardmembers can earn 75,000 bonus miles after spending $4,000 in the first 3 months. The Venture early spend bonus is worth $750 in travel statement credits or upcoming itineraries through Capital One Travel. The bonus can be potentially worth more when transferring to the airline or hotel partners.
Earning Points and Miles
Both cards earn bonus points or miles on travel purchases, but there are several differences regarding how much you can earn on non-travel spending.
Chase Sapphire Preferred
The Sapphire Preferred can be the better option if you want access to several tiered bonus categories. Additionally, you can earn Chase Ultimate Rewards points which are also earned by cards like the Freedom and Ink Business card families.
- 5x points per dollar spent on travel purchased through Chase Ultimate Rewards (excluding hotel purchases that qualify for the $50 Annual Ultimate Rewards Hotel Credit)
- 2x on all remaining travel purchases
- 3x on dining purchases, including delivery services, takeout, and dining out
- 3x on online grocery purchases (excluding Walmart, Target, and wholesale clubs)
- 3x on select streaming services
- 1x on all remaining purchases
In addition to earning up to 5x points on purchases, you will receive bonus points each year equal to 10% of your total points earned during the prior card membership year. For example, you will receive 5,000 bonus rewards if you spend $50,000.
Related: What Credit Score Do You Need for the Chase Sapphire Preferred?
Capital One Venture Rewards
The Venture Rewards is best for earning flat-reward rewards. Like most travel credit cards, select itineraries now earn bonus miles when booked through the credit card travel portal.
- 5x on car rentals and hotels booked through Capital One Travel
- 2x on all remaining purchases
Related: What Credit Score Do You Need for the Capital One Venture?
Redeeming Rewards Points
You can easily request travel and non-travel redemptions. Travel redemptions are the most valuable reward for either product but both cards take different routes to getting the highest point redemption value.
| Sapphire Preferred | Venture Rewards | |
|---|---|---|
| Travel | 1.25 cents | 1 cent |
| Gift Cards | 1 cent | 0.8 cents |
| Cash Back | 1 cent | 0.8 cents |
| Online Shopping | 0.8 cents | 0.8 cents |
Chase Sapphire Preferred
Your points are worth 25% more at 1.25 cents each when booking award travel through Chase Ultimate Rewards. This booking portal is powered by Expedia and the redemption bonus applies to flights, hotels, car rentals, cruises, and excursions.
You can also transfer your points to over a dozen airline and hotel programs. The redemption value differs by program and itinerary.
If you don’t want to use your points for upcoming trips, cash back or gift card redemptions are worth 1 cent which is still a competitive redemption value.
Capital One Venture Rewards
The Venture Card provides the flexibility of using your miles for upcoming trips through Capital One Travel or recent travel purchases. The redemption value is 1 cent for either method.
Your points are worth less than 1 cent for non-travel redemptions and this isn’t a great option if you like using your rewards for a variety of rewards.
1:1 Point Transfers
You may also appreciate the ability to transfer your points at a 1:1 ratio to airlines and hotels. The better option depends on your favorite loyalty program. However, Chase makes it easier to book domestic flights directly from the carrier as it has three U.S.-based airline transfer partners.
| Chase Sapphire Preferred | Capital One Venture Rewards |
|---|---|
| Aer Lingus | Aeromexico |
| Air Canada Aeroplan | Air Canada Aeroplan |
| British Airways | Asia Miles |
| Emirates | Avianca |
| Flying Blue | British Airways |
| Iberia | Emirates |
| JetBlue | Etihad |
| Singapore Airlines | EVA Air |
| Southwest Airlines | Finnair |
| United Airlines | Flying Blue |
| Virgin Atlantic | Qantas |
| IHG One Rewards | Singapore Airlines |
| Marriott Bonvoy | TAP Air Portugal |
| World of Hyatt | Turkish Airlines |
| Virgin Red | |
| Accor Live Limitless | |
| Choice Privileges |
Airport Lounge Benefits
Airport lounge access is a popular travel trend for occasional and frequent flyers. Infrequent flyers may appreciate the Capital One Venture Rewards Card for its lounge benefit, while frequent flyers will prefer the Capital One Venture X Rewards Credit Card.
Chase Sapphire Preferred
Unfortunately, the Sapphire Preferred doesn’t offer lounge benefits but applying for the Chase Sapphire Reserve® which provides unlimited visits to the Priority Pass Select locations.
Capital One Venture Rewards
The primary cardholder receives two one-time passes each year to the Capital One Lounge and Plaza Premium networks. These passes can be used by cardholders or travel companions.
Authorized users won’t receive their own lounge visit passes like premium credit cards offer. This is because additional cards are free.
Chase Sapphire Preferred Travel Benefits
Here are several of the Sapphire Preferred’s best travel perks.
25% Travel Redemption Bonus
Few cards offer a redemption bonus when redeeming your points for travel. A 1.25 cents redemption value makes each point worth 25% more than the average credit card point.
Further, the bonus applies to any type of travel booking through the platform instead of just flights, which makes it very easy to use.
Annual Hotel Credit
The first $50 in hotel bookings through Chase Ultimate Rewards are eligible for the Chase Sapphire Preferred hotel credit. Your reimbursed booking amount won’t earn rewards points but you spend less on travel. Using this benefit essentially reduces the net annual fee to only $45 ($95-$50).
10% Anniversary Bonus
You’re able to book your next award trip after each card anniversary date sooner thanks to the 10% anniversary bonus. Cardholders receive one bonus point per $1 spent during the previous 12 months.
Partner Benefits
The Sapphire Preferred also offers limited-time partnerships with brands to maximize your buying power. Featured benefits include:
- Lyft: Earn 5x points on Lyft rides through March 31, 2025. Rideshares typically earn 2x.
- Doordash: Complimentary DoorDash Plus membership for a minimum of one year through December 31, 2024.
- Gopuff: $10 monthly statement credit through December 31, 2023.
- Instacart: Six months of free Instacart+ membership. Premium members can receive up to $15 in quarterly statement credits.
Capital One Venture Rewards Travel Benefits
The Capital One Venture travel features can be valuable if you fly several times per year.
Airport Lounge Visits
Receive two one-time passes at account opening and on each renewal. You can use these passes to visit a Capital One Lounge or Plaza Premium Lounge. There are more than 100 lounges participating across the world that you can visit for free.
Up to $100 Global Entry or TSA PreCheck® Application Fee Credit
One person can get Global Entry or TSA PreCheck free of charge and enjoy expedited airport security lines. The card reimburses up to $100 in application fees.
Capital One Travel
Capital One Travel can help you find cheap flights as it monitors flight prices to predict when fares will be the most affordable. The booking site also offers free price drop protection and you can receive up to $50 in credits if a qualifying itinerary drops in price after your booking date.
Hertz Five Star Status
Cardholders, authorized users, and account managers age 21 or older are eligible for automatic Hertz Five Star status which is the car rental agency’s second-highest loyalty tier.
Membership benefits include:
- Wider selection of rental vehicles
- Complimentary upgrades when available
- Dedication customer service texting line
This benefit expires on December 31, 2024. You will need to book 10 qualifying rentals or have at least $2,000 in bookings each year to retain this membership level.
Travel and Purchase Protection
Both cards offer complimentary travel insurance of some kind, although the Chase Sapphire Preferred is the clear winner for protecting your travel itineraries during unforeseen circumstances.
Chase Sapphire Preferred
The Sapphire cards offer extensive travel insurance benefits that can reimburse incidental expenses and non-refundable purchases.
- Trip Cancellation and Interruption: Up to $10,000 per person and $20,000 per trip for non-refundable travel itineraries when trips are canceled or shortened for covered reasons.
- Trip Delay Reimbursement: Up to $500 per ticket for essential expenses when delays exceed 12 hours or require an overnight stay.
- Baggage Delay Insurance: Up to $100 per day for 5 days per passenger for luggage delays exceeding 6 hours.
- Auto Rental Collision Damage Waiver: Primary rental car insurance coverage up to the actual cash value of the vehicle on most U.S. and international car rentals.
Cardholders also receive up to $500 in purchase protection against accidental theft or loss on qualifying purchases. Manufacturer warranties of three years or less can also be extended by an additional year.
Further Reading: how to avoid flight delays and cancellations
Capital One Venture Rewards
The Venture Card’s most notable travel protection benefit is secondary collision and theft coverage on most domestic and international car rentals. This coverage level isn’t as extensive as primary coverage as it activates after your standard auto insurance benefits are applied. This benefit can still reduce your out-of-pocket expenses when an incident occurs.
Additional benefits include travel accident insurance and lost luggage reimbursement. These benefits are provided by Mastercard World Elite.
The Capital One Venture Rewards also offers one year of additional warranty coverage. For added security when shopping online, you can use virtual card numbers to pay for one-time and recurring purchases.
Further Reading: best credit cards offering travel insurance.
When to Apply for the Chase Sapphire Preferred
The Chase Sapphire Preferred is the better option in these situations:
- Earn Chase Ultimate Rewards: Many consider Ultimate Rewards points to be the most valuable credit card point for award travel thanks to the travel redemption bonus and 1:1 points transfers.
- Tiered Rewards: Depending on your spending habits, you might be able to earn more with the 3x bonus categories than the Venture Card’s flat-rate 2x earn rate.
- Redemption Options: The 25% travel redemption bonus can be more valuable than booking directly through the carrier. Additionally, the 1:1 transfer partners have more variety for direct bookings and a one-cent redemption value for cash back and gift cards is compelling as well.
- Better Travel Insurance: The Sapphire Preferred offers some of the best credit card travel insurance benefits. The extensive coverage amounts provide peace of mind and can prevent buying travel insurance on select trips.
- Hotel Credit: The majority of travel credit card benefits tend to focus on offsetting air travel costs. You may enjoy the $50 hotel credit if you’re comfortable booking hotel stays through the Chase travel portal.
Our Chase Sapphire Preferred benefits guide goes into more detail about what cardholders can expect.
When to Apply for the Capital One Venture Rewards
The Capital One Venture Rewards is a compelling option when you need flexibility.
- Earn At Least 2x Miles: You can earn 2 miles on travel and non-travel purchases. Additionally, select Capital One Travel bookings can earn 5x miles. Being able to earn double miles makes it easy to get more from daily spending.
- International Award Flights: The Capital One airline transfer partners provide more options for booking international flights directly from the carrier. Overseas flights can have better redemption values than domestic flights.
- Airport Lounge Benefits: Cardholders can visit partner lounges free of charge twice each year. As a quick comparison, the Sapphire Preferred doesn’t offer complimentary lounge access.
- Expedited Airport Security: You can enjoy shorter airport security wait times with TSA PreCheck at domestic airports. If you fly abroad periodically, Global Entry helps you process through customs sooner.
You can learn more about the Capital One Venture benefits with our in-depth guide.
The Vacationer’s Final Thoughts
So, is the Chase Sapphire Preferred or Capital One Venture Rewards better? The answer depends on your current credit card portfolio, your preferred redemption method, and travel routine.
The Chase Sapphire Preferred® Card provides more rewards categories and a well-rounded list of 1:1 transfer partners and additional travel benefits. The perks can help stretch your mileage if you spend in the right areas or travel with specific airlines and hotels.
The Capital One Venture Rewards Credit Card is a utilitarian credit card that can help you earn consistently more on ordinary purchases. It’s also easy to redeem your points for upcoming or recent trips with a competitive redemption value. Casual air travelers can also appreciate the additional travel features.
Either card can help you get more from your daily spending and trips with a budget-friendly annual fee and benefits that provide peace of mind.
Further Reading:
Editorial Disclosure: Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at upgraded status level through December 31, 2024. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g. at Hertz.com) will not automatically detect a cardholder as being eligible for the program and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
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