Chase Sapphire Preferred vs. Capital One Venture Rewards: Which $95 card is right for you?

Paying hundreds in annual fees for premium credit cards isn’t for everyone, especially if you’re new to the world of points and miles. Thankfully, there are many travel credit cards available for under $100 a year that still offer fantastic rewards to help you plan that dream vacation.

Among the leading cards in this price range are the Chase Sapphire Preferred® Card and the Capital One Venture Rewards Credit Card (see rates and fees). Both offer reasonable annual fees for newcomers and seasoned travelers alike, with a recommended credit score of 670 or above.

Let’s compare these two cards side by side.

Comparing Capital One Venture and Chase Sapphire Preferred

Here are the key features of each card across the main categories:

*Benefits exclusive to accounts approved for the World Elite Mastercard. Terms apply.

Capital One Venture vs. Chase Sapphire Preferred sign-up bonus

Both cards are currently offering attractive sign-up bonuses that can deliver significant value to new cardholders.

The Venture Rewards card offers new users 75,000 bonus miles after spending $4,000 within the first three months of opening an account.

The 75,000 bonus miles you earn after meeting the spending requirement can be valued at $750 in travel if redeemed at a fixed rate directly through Capital One, or up to $1,388 if transferred to Capital One's airline or hotel partners, according to TPG's July 2024 valuation of Capital One miles at 1.85 cents each.

Currently, the Sapphire Preferred is offering 60,000 Ultimate Rewards points after you spend $4,000 on purchases in the first three months, along with a $300 statement credit for Chase Travel℠ purchases made within the first year.

Since these points are worth 1.25 cents each when redeemed through the Chase travel portal, the bonus is guaranteed to be valued at up to $1,050 in travel. However, TPG's July 2024 valuations estimate Chase Ultimate Rewards points at 2.05 cents each, suggesting this welcome offer could be worth up to $1,530.

Winner: Sapphire Preferred. This card stands out due to its welcome offer, which has greater potential value.

Benefits of Capital One Venture vs. Chase Sapphire Preferred

It's expected that a $95-a-year card won’t offer as many perks as a premium card costing several hundred dollars annually (see rates and fees for the Venture card). However, both cards provide a range of benefits that enhance their overall value.

The Venture Rewards card offers benefits such as no foreign transaction fees (see rates and fees), extended warranty protection, and purchase assurance for losses occurring within the first 90 days of purchase.

You'll also receive up to $120 in credits for Global Entry or TSA PreCheck application fees. This benefit is typically found on cards with higher annual fees and can significantly expedite your airport experience.

The Sapphire Preferred is a Visa Signature card that offers enhanced benefits. Most notably, it provides primary rental car coverage instead of secondary coverage, allowing you to submit claims directly to the card's benefits provider without involving your personal insurance.

Additionally, the Sapphire Preferred boasts superior travel benefits, including up to $500 in trip delay reimbursement for delays over 12 hours or overnight, up to $10,000 in trip cancellation and interruption insurance per person (or $20,000 per trip), and up to $100 per day for five days in baggage delay reimbursement if your bag is delayed for more than six hours.

Furthermore, the card includes an annual $50 statement credit for hotel stays booked through the Chase travel portal and a 10% bonus on anniversary points.

Winner: Sapphire Preferred. You'll receive slightly more benefits with this Chase card.

Earning rewards with Capital One Venture vs. Chase Sapphire Preferred

With the Capital One Venture Rewards card, you can earn 5 miles per dollar on hotel and rental car bookings made through Capital One Travel and Capital One Entertainment, as well as 2 miles per dollar on all other purchases.

The Sapphire Preferred allows you to earn 5 points per dollar on travel purchased via Chase Travel, 3 points per dollar on dining (including eligible delivery services, takeout, and dining out), 3 points per dollar on select streaming services, 3 points per dollar on online grocery purchases (excluding Target, Walmart, and wholesale clubs), 2 points per dollar on other travel, and 1 point per dollar on all other purchases.

The definition of travel is quite broad with the Sapphire Preferred, covering everyday expenses like tolls, parking, and subway fares. Dining encompasses traditional restaurants, bars, coffee shops, food delivery services, and even most vending machines.

Winner: Tie. The Capital One Venture excels in everyday spending but lags in bonus categories where the Sapphire Preferred performs better, so it ultimately depends on your spending habits.

Redeeming rewards with the Capital One Venture vs. Chase Sapphire Preferred

Both cards enable you to redeem rewards for a variety of purchases, but travel redemptions consistently offer the best value.

If you prefer a straightforward redemption process, like TPG credit cards writer Ryan Wilcox, you can redeem Capital One Venture Rewards miles at a fixed rate of 1 cent each for travel bookings through Capital One Travel or to offset any recent travel purchase (also at 1 cent per mile).

If travel rewards aren’t your priority, you can redeem your miles for gift cards, cash back, or for purchases on Amazon and PayPal, though these options will yield lower redemption values.

Similarly, you can redeem Chase Ultimate Rewards points for travel at a fixed rate or transfer them. When booking travel through Chase Travel, points are valued at 1.25 cents each. You can also use points for gift cards and cash back, but those options will yield only 1 cent per point in value.

Winner: Sapphire Preferred. You'll enjoy a better value of 1.25 cents per point when redeeming for travel at a fixed rate, compared to just 1 cent per point for cash rewards or statement credits.

Transferring rewards with Capital One Venture vs. Chase Sapphire Preferred

You can maximize the value of your Capital One miles by transferring them to over 15 airline and hotel partners. Most transfers occur at a 1:1 ratio. Since the card earns 2 Capital One miles per dollar on everyday purchases, you could earn up to 2 airline miles or hotel points per dollar spent, depending on the specific program to which you transfer your miles.

Similarly, the best way to maximize the value of your Chase Ultimate Rewards points is by transferring them to one of Chase's airline and hotel partners, including high-value options like United MileagePlus, Iberia Plus, and World of Hyatt.

Winner: Sapphire Preferred. Chase Ultimate Rewards stands out by providing more valuable transfer options, particularly with United and Hyatt, which are not available through Capital One.

Should I choose the Capital One Venture or Chase Sapphire Preferred?

While the value you derive from these cards largely depends on your spending habits, most cardholders will find the Sapphire Preferred to be the better option. Generally, Chase Ultimate Rewards points offer more value than Capital One miles. Additionally, the Sapphire Preferred earns more in bonus categories and provides superior travel protections.

Bottom line

These two cards can actually work together rather than being mutually exclusive. The Capital One Venture Rewards is among the best Capital One credit cards, while the Chase Sapphire Preferred ranks as one of the top Chase credit cards available. They complement each other effectively if you choose to own both.

You can utilize the Venture card for everyday purchases and the Sapphire Preferred for travel and dining expenses. By combining their sign-up bonuses, you could secure nearly $3,000 in travel value during the first year for under $200 in annual fees — a fantastic deal if you apply for both cards (see rates and fees for the Venture Rewards).

For more information, check out our comprehensive reviews of the Venture Rewards and Chase Sapphire Preferred.

*For the Capital One products mentioned on this page, some benefits may be provided by Visa® or Mastercard® and can vary by product. Refer to the respective Guide to Benefits for specifics, as terms and exclusions may apply.