Chase Sapphire Preferred vs. Capital One Venture: A face-off between two leading travel credit cards

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In the growing landscape of travel credit cards, both the Chase Sapphire Preferred® and Capital One Venture Rewards Credit Card stand out prominently. Each card has received accolades and ranks highly on numerous 'best of' lists, thanks to their generous rewards and travel benefits. However, how do they compare? Both cards offer comparable welcome bonuses and share a $95 annual fee, yet their benefits vary significantly. Grasping these differences is crucial in finding the right card for your spending habits and travel needs.

In this detailed guide, we’ll explore the advantages and features of both cards, examining their rewards structures and perks to help you find the card that best fits your travel dreams and financial objectives. Whether you prioritize flexibility, ease of use, or premium travel benefits, we’ll assist you in navigating the options, empowering you to make a well-informed choice between the Chase Sapphire Preferred and the Capital One Venture Rewards.

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Welcome Bonus

Both the welcome bonuses for the Chase Sapphire Preferred and the Capital One Venture are enticing, yet they appeal to different preferences and spending styles. The Chase Sapphire Preferred offers 75,000 bonus points after you spend $4,000 within the first 3 months of account opening. This can translate to over $900 when redeemed through Chase Travel℠. These points provide remarkable flexibility, allowing redemptions for travel, statement credits, or 1:1 transfers to 14 airline and loyalty programs.

Conversely, the Capital One Venture Rewards Card offers 75,000 bonus miles after you spend $4,000 in the first three months from opening your account. These miles can be redeemed or transferred to over 15 airline and hotel loyalty programs.

Ultimately, your choice between the two depends on your preferred methods of redemption and transfer partners. Chase Ultimate Rewards transfer partners feature domestic loyalty programs such as World of Hyatt, United MileagePlus, and Southwest Rapid Rewards. In contrast, Capital One primarily collaborates with international programs like Air France-KLM Flying Blue, Avianca Lifemiles, Turkish Miles & Smiles, among others. Both provide excellent value, but the best option will hinge on your redemption preferences (more details on this later).

Another important consideration is that Chase enforces the 5/24 rule for new credit card eligibility. If you’ve applied for five or more credit cards in the past 24 months, your application for a Chase card, including the Sapphire Preferred, will be declined.

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Earning Rewards

While welcome bonuses play a significant role in assessing a credit card, the potential for long-term rewards is even more essential. When evaluating the point-earning capabilities of the Chase Sapphire Preferred and the Capital One Venture Rewards, there are important details to consider. The Chase Sapphire Preferred earns 5X points on travel booked through Chase Ultimate Travel, 2X miles on other travel expenses, and 3X points on dining (including eligible delivery services, takeout, and in-restaurant dining), online grocery purchases (excluding Target, Walmart, and wholesale clubs), and select streaming services.

In addition to these categories, cardholders earn 1 point for every dollar spent on other purchases. The Sapphire Preferred is particularly well-suited for those looking to earn above-average rewards on everyday spending.

On the other hand, the Capital One Venture Rewards Credit Card features a more straightforward rewards structure. It earns 5 miles per dollar on hotels and rental cars booked through Capital One Travel and 2X miles on all other purchases. This simplicity attracts those who prefer an uncomplicated rewards system without needing to monitor specific spending categories. It's particularly beneficial for individuals whose spending is diverse or who don’t spend heavily on dining and travel but still wish to earn higher rewards on every purchase.

When choosing between the earning rates of the Chase Sapphire Preferred and the Capital One Venture, consider your spending habits and whether you favor category bonuses or a uniform flat-rate reward system across all purchases.

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Travel Perks

The Chase Sapphire Preferred and the Capital One Venture provide unique benefits tailored to various preferences and travel styles. Each card includes a range of travel-oriented perks designed to enhance your travel experience and help offset the annual fee, such as waived foreign transaction fees. Here’s a comparison of the travel benefits each card offers:

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Airport Benefits

Traveling through the airport can be a challenge at any time, but the Capital One Venture card comes with several advantages to enhance the experience. Cardholders enjoy up to a $120 fee credit every four years for Global Entry or TSA PreCheck. These trusted traveler programs provide expedited lanes at customs and airport security, making the journey smoother. This benefit is not available with the Chase Sapphire Preferred but is included with the higher annual fee of the Chase Sapphire Reserve®.

The Capital One Venture Card also grants up to two complimentary visits per year to Plaza Premium or Capital One Lounges. This perk is quite uncommon for a card with a $95 annual fee and is not provided by the Sapphire Preferred.

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Hotel Savings

The Chase Sapphire Preferred provides up to $50 in annual statement credits for hotel stays booked through the Chase Travel℠ portal. In contrast, the Capital One Venture Card offers a more valuable recurring benefit through the Capital Lifestyle Collection: a $50 experience credit for every qualifying hotel reservation. Cardholders also enjoy perks such as room upgrades, complimentary Wi-Fi, early check-in, and late checkout when available. Given that these benefits can be utilized multiple times, they surpass the Sapphire Preferred’s $50 hotel credit.

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Travel Protections

The Chase Sapphire Preferred provides more extensive travel protections than the Capital One Venture Card. Holders of the Sapphire Preferred enjoy primary car rental insurance, trip delay reimbursement, trip cancellation & interruption coverage, baggage delay insurance, and travel and emergency assistance services.

In comparison, the Capital One Venture Card offers only primary rental car insurance, lost luggage reimbursement, and travel accident insurance. While these features are beneficial, they don't match the breadth of protections provided by the Chase Sapphire Preferred. In cases of unexpected trip cancellations, the trip cancellation & interruption coverage alone can save you a significant amount of money.

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Partner advantages

Both the Chase Sapphire Preferred and Capital One Venture Card provide attractive partner benefits that can reduce your travel expenses. The Sapphire Preferred includes useful perks like a complimentary DoorDash DashPass membership, valued at $96 annually (Activate by 12/31/2024). Additionally, cardholders enjoy six months of free Instacart+ membership and $15 in quarterly statement credits.

On the other hand, the Capital One Venture Credit Card includes travel-focused perks such as Hertz Five Star status and invitations to exclusive events and concerts. For example, last year, Capital One cardholders received early access to tickets for Taylor Swift’s highly-anticipated Eras Tour. While these perks may not be the flashiest, they offer practical benefits that can lead to unique experiences.

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Transfer partners

A key advantage of both cards is the ability to transfer points to various airline and hotel loyalty programs. This feature significantly enhances the value of your points and miles, particularly for luxury travel redemptions. Both programs share six loyalty partners: Air Canada Aeroplan, Air France-KLM Flying Blue, British Airways Executive Club, Emirates Skywards, Singapore Airlines KrisFlyer, and Virgin Atlantic Flying Club.

Additionally, your choice between the two programs should reflect how closely their partner networks align with your travel aspirations. Chase Ultimate Rewards is preferable for those focusing on domestic transfers, whereas Capital One offers valuable international partners, often featuring lower redemption rates than U.S. counterparts.

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Chase Ultimate Rewards transfer partners

The Chase Sapphire Preferred grants access to a wide range of transfer partners, including major airlines and hotel chains such as United, Southwest, Hyatt, and Marriott. This broad network offers flexibility and excellent value for travelers aiming to maximize their points for flights or hotel accommodations. Chase's partners are known for their strategic collaborations and favorable point transfer ratios, boosting their overall usefulness.

• Aer Lingus, AerClub

• Air Canada Aeroplan

• Air France-KLM Flying Blue

• British Airways Executive Club

• Emirates Skywards

• Iberia Plus

• IHG Rewards Club

• JetBlue TrueBlue

• Marriott Bonvoy

• Singapore Airlines KrisFlyer

• Southwest Airlines Rapid Rewards

• United MileagePlus

• Virgin Atlantic Flying Club

• World of Hyatt

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Capital One's transfer partners

In contrast, the Capital One Venture offers over 15 international airline and hotel transfer partners. Most of these transfers are at a 1:1 ratio, although there are a few exceptions. Capital One also occasionally has transfer bonus promotions that enhance the value of your miles even further.

• Accor Live Limitless (2:1)

• Aeromexico Club Premier

• Air Canada Aeroplan

• Air France-KLM Flying Blue

• Avianca Lifemiles

• British Airways Executive Club

• Cathay Pacific Asia Miles

• Choice Privileges

• Emirates Skywards

• Etihad Guest

• Eva Air Infinity Mileage Lands (2:1.5)

• Finnair Plus

• Qantas Frequent Flyer

• Singapore KrisFlyer

• Tap Miles & Go

• Turkish Miles & Smiles

• Virgin Red

• Wyndham Rewards

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Alternative methods for redeeming points

Whether you opt to purchase travel with cash or points, both credit cards offer competitive redemption options. Chase Ultimate Rewards provides a variety of ways to redeem, including travel bookings through the Chase Travel℠ portal, where points are valued at 1.25 cents each for Sapphire Preferred cardholders. Additionally, cardholders can redeem points for statement credits and gift cards at approximately 0.7-1 cent each.

On the other hand, Capital One miles are valued at 0.5 to 0.8 cents each, depending on how you choose to redeem them: 0.5 cents for cash back and 0.8 cents for Amazon purchases, events, experiences, gift cards, or PayPal transactions. These values are less favorable compared to those of the Sapphire Preferred. If you’re planning to redeem points for non-travel items, it’s important to consider these rates, as Sapphire Preferred offers more advantageous options.

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Tips for selecting the ideal card

Deciding between the Chase Sapphire Preferred and the Capital One Venture Card largely depends on your spending patterns, travel habits, and what you value in a rewards credit card. The Chase Sapphire Preferred excels for those who often dine out or travel, as it offers elevated rewards in these areas. Its flexible Ultimate Rewards program, featuring numerous transfer partners and various redemption avenues, is attractive to those seeking versatility and the potential for enhanced point values through strategic transfers or travel redemptions. If you prioritize travel protections, diverse redemption opportunities, and maximizing points across various categories, the Sapphire Preferred could be your best option.

In contrast, the Capital One Venture Card presents a simple rewards structure with a flat-rate earning system, appealing to those who favor straightforwardness and consistency in accumulating miles across all purchases. This card is ideal for individuals who want to earn a decent rewards rate without monitoring category spending. If your primary focus is on travel redemptions and you seek a no-fuss way to cover travel costs with miles, the Venture Card offers a convenient solution.

Ultimately, your decision hinges on whether you value higher rewards in specific categories, such as dining and travel (Chase Sapphire Preferred), or prefer a steady, uncomplicated rewards system for all purchases that simplifies travel redemptions (Capital One Venture Card). It also depends on how you intend to use your points and what benefits you desire from your credit card.

• Chase Sapphire Preferred: Best for travelers who frequently spend on dining and travel thanks to its bonus categories and strong transfer partners. The flexibility in redemption choices is also advantageous.

• Capital One Venture: Perfect for those looking for an easy way to earn points without needing to track categories. It’s great for individuals who prefer a flat-rate rewards model and might not have brand loyalty.

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Key Takeaway

Deciding between the Chase Sapphire Preferred and the Capital One Venture Rewards Card hinges on your travel style and spending behavior. If you seek a comprehensive array of premium travel perks, along with attractive category bonuses and are inclined to maximize point values via strategic redemptions, the Chase Sapphire Preferred may be the right fit for you. On the other hand, if you value simplicity, prefer a flat-rate rewards structure, and want straightforward redemption options for travel expenses, the Capital One Venture Card provides an uncomplicated way to earn and utilize travel rewards.

Whichever card you opt for, you can expect lucrative travel rewards and significant earning potential on your everyday spending. Whether you utilize Ultimate Rewards or Capital One miles, there are ways to maximize each type of currency to achieve your travel aspirations. With a bit of planning, either card will unlock a plethora of travel opportunities for you.

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Editorial Note: The views expressed here are solely those of the author and do not reflect the opinions of any bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or endorsed by any of these entities.