Chase Sapphire Preferred Vs. Capital One Venture: Which Is Better?

Chase Sapphire Preferred Vs. Capital One Venture: Which Is Better?

2
In the interest of full disclosure, OMAAT earns a referral bonus for anyone that’s approved through some of the below links. These are the best publicly available offers (terms apply) that we have found for each product or service. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airline, hotel chain, or product manufacturer/service provider, and have not been reviewed, approved or otherwise endorsed by any of these entities. Please check out our advertiser policy for further details about our partners, and thanks for your support!

The Chase Sapphire Preferred® Card (review) and Capital One Venture Rewards Credit Card (review) are two of the most popular mid-range travel rewards credit cards. While the cards have similar annual fees, most other aspects of the cards differ.

I think both cards can make sense for certain consumers, but given how different they are, it’s worth understanding which card is better for your situation. So in this post I wanted to compare the two cards, especially in light of the Sapphire Preferred’s elevated welcome bonus, as well as the recent refresh of the Chase Sapphire portfolio.

Welcome bonuses: Chase Sapphire Preferred vs. Capital One Venture

Chase Sapphire Preferred: The card offers a welcome bonus of 100,000 bonus Ultimate Rewards points after spending $4,000 within the first three months. This is the best-ever bonus we’ve seen on this card, and I’d argue it’s the best publicly available credit card welcome bonus ever on any card.

At a minimum, Ultimate Rewards points can be redeemed for 1.25 cents each towards the cost of a travel purchase (potentially way more), giving the 100,000 points a minimum value of $1,250. However, I value them significantly more than that.

Capital One Venture: The card offers a welcome bonus of 60,000 bonus Venture miles after spending $3,000 within the first three months.

Each Venture mile can be redeemed for one cent towards the cost of a travel purchase, or can be converted to airline partners at a ratio of up to 1:1. By my valuation, that gives the 60,000 Venture miles a value of $780.

Winner: Both cards offer excellent bonuses, but the winner here is clearly the Sapphire Preferred, due to the much bigger bonus.

Both card welcome bonuses can get you great travel rewards

Approval odds: Chase Sapphire Preferred vs. Capital One Venture

Chase Sapphire Preferred: For those very involved in miles & points, getting approved for the Sapphire Preferred can be challenging. It’s subjected to the 5/24 rule, meaning you won’t be approved if you’ve opened five or more new card accounts in the past 24 months.

Furthermore, the welcome bonus isn’t available to those who currently have a Sapphire Card (including the Sapphire Reserve), or those who have received a new cardmember bonus on a Sapphire Card in the past 48 months.

Capital One Venture: The terms note that “existing or previous accountholders may not be eligible for this one-time bonus,” and also anecdotally Capital One will often only approve people for a card once every six months.

Winner: It depends on your exact situation, but I think more people will be locked out by the Sapphire Preferred rules than the Venture Card rules. See here for a full comparison of credit card application rules.

Annual fee: Chase Sapphire Preferred vs. Capital One Venture

Chase Sapphire Preferred: The card has a $95 annual fee.

Capital One Venture: The card has a $95 annual fee.

Winner: This is a tie, as both cards have the same annual fee.

Value of points: Chase Sapphire Preferred vs. Capital One Venture

Chase Sapphire Preferred: Points earned on this card can be redeemed in two primary ways:

Ultimate Rewards partners include the following (along with transfer ratios and times):

Ultimate Rewards Transfer Partner
Transfer Ratio
Transfer Time
Aer Lingus Aer Club
1000 : 1000
Instant
Air Canada Aeroplan
1000 : 1000
Instant
Air France KLM FlyingBlue
1000 : 1000
Instant
British Airways Executive Club
1000 : 1000
Instant
Emirates Skywards
1000 : 1000
Instant
Iberia Plus
1000 : 1000
Instant
JetBlue TrueBlue
1000 : 1000
Instant
Singapore Airlines KrisFlyer
1000 : 1000
~ 1 to 7 days
Southwest Rapid Rewards
1000 : 1000
Instant
United MileagePlus
1000 : 1000
Instant
Virgin Atlantic Flying Club
1000 : 1000
Instant
IHG Rewards Club
1000 : 1000
Instant
Marriott Bonvoy
1000 : 1000
~ 1 to 2 days
World of Hyatt
1000 : 1000
Instant
Chase Ultimate Rewards transfer ratios & times

Capital One Venture: Miles earned on this card can be redeemed in two primary ways:

  • They can be redeemed for one cent each towards the cost of a travel purchase; for a limited time, points can be redeemed at the same rate towards everyday purchases at restaurants and on streaming services
  • They can be transferred to Venture miles airline and hotel partners at a ratio of 1:1, 1.5:1, or 2:1. I value Capital One miles at 1.3 cents each

Capital One partners include the following (along with transfer ratios and times):

Capital One Transfer Partner
Transfer Ratio
Transfer Time
Accor Live Limitless (ALL)
1000 : 500
TBD
Aeromexico Club Premier
1000 : 1000
Instant
Air Canada Aeroplan
1000 : 750
Instant
Air France KLM Flying Blue
1000 : 750
Instant
Alitalia MilleMiglia
1000 : 750
Instant
Avianca LifeMiles
1000 : 1000
Instant
British Airways Executive Club
1000 : 1000
TBD
Cathay Pacific Asia Miles
1000 : 1000
~ 3 to 5 days
Emirates Skywards
1000 : 500
Instant
Etihad Guest
1000 : 1000
~ 12 to 24 hours
EVA Air Infinity MileageLands
1000 : 750
~ 24 to 48 hours
Finnair Plus
1000 : 1000
Instant
JetBlue TrueBlue
1000 : 750
Instant
Qantas Frequent Flyer
1000 : 750
~ 24 to 48 hours
Singapore Airlines KrisFlyer
1000 : 500
~ 24 to 48 hours
TAP Miles&Go
1000 : 1000
TBD
Turkish Airlines Miles&Smiles
1000 : 750
TBD
Wyndham Rewards
1000 : 1000
TBD
Capital One Transfer Ratios & Times

Winner: On a per-point basis, Chase Ultimate Rewards points are more valuable than Capital One Venture miles. Each point can be redeemed for more cash and more points with a transfer partner, though that’s only half of the equation since it doesn’t account for the pace at which you earn points.

Transfer both points currencies to JetBlue TrueBlue

Ability to earn points: Chase Sapphire Preferred vs. Capital One Venture

Chase Sapphire Preferred: The card offers 5x points on travel booked through Chase Travel, 3x points on dining, online groceries, and select streaming services, 2x points on travel, and 1x Ultimate Rewards points on all other purchases. On top of that, the card offers 10% anniversary bonus points, determined from your base spending amount.

At a minimum, this means that long-term the card is earning a return of 3.75% on dining, online groceries, and select streaming services, a return of 2.5% on travel, and a return of 1.25% on other purchases (based on the ability to redeem points for 1.25 cents each, not factoring in the 10% anniversary bonus).

You can potentially get a lot more value than that, though. For example, I value Ultimate Rewards points at 1.7 cents each (thanks to the transfer ratio for travel partners), so based on my valuation you’re getting a return of 5.1% on dining, online groceries, and select streaming services, 3.4% on travel, and 1.7% on everything else. However, not everyone should value points the way I do, especially if you just plan to redeem them as cash towards the cost of a travel purchase.

Capital One Venture: The card offers 2x Venture miles on all purchases.

At a minimum, this means the card is earning a return of 2% on all purchases (based on the ability to redeem miles for one cent each towards travel purchases). But you’re also earning up to 2x airline miles per dollar spent, and based on my valuation of 1.3 cents per Capital One mile, that’s like a ~2.6% return on everyday spending, which is excellent.

Winner: It very much depends on how much you spend on dining, online groceries, and travel, and how you plan on redeeming your points. The Venture Card offers up to 2x airline miles per dollar spent, while the Sapphire Preferred offers 3x miles on dining (and more), 2x miles on travel, and 1x airline miles on other purchases. For everyday spending the Venture Card is no doubt better, especially if you want to transfer rewards to an airline or hotel partner.

Capital One Venture miles potentially give you more flexibility

Perks: Chase Sapphire Preferred vs. Capital One Venture

Chase Sapphire Preferred: The card has no foreign transaction fees, great travel and purchase protection, primary rental car coverage, a $50 hotel credit every calendar year, and more.

Capital One Venture: The card has no foreign transaction fees, great travel and purchase protection, secondary rental car coverage, and a Global Entry or TSA Pre-Check credit every four years.

Winner: Personally I think the Chase Sapphire Preferred has the edge for the car rental coverage and superior travel protection, though if you can take advantage of the Global Entry or TSA Pre-Check credit, you may get more value out of the Capital One Venture Card.  Thankfully, both cards have no foreign transaction fees.

Both cards have no foreign transaction fees, are great for purchases abroad

The potential Chase Sapphire Preferred “X-factor”

Before getting to my conclusion, it’s important to call out one thing that makes the Chase Sapphire Preferred unique.

The Capital One Venture has a straightforward points structure without many bonus categories, and there’s not a way to complement the card with another one to get outsized value.

With the Sapphire Preferred, on the other hand, there are many ways to use other cards to maximize the value you get out of your Ultimate Rewards points. That’s because you can pool points you earn on the Chase Sapphire Preferred with some other awesome Chase cards:

  • The Chase Freedom FlexSM (review) has no annual fee and offers 5x points in rotating quarterly categories, for up to $1,500 of spending per quarter, plus 3x points on dining and drugstores
  • The Chase Freedom Unlimited® (review) has no annual fee and offers 1.5x points on all purchases, plus 3x points on dining and drugstores
  • The Ink Business Cash® Credit Card (review) has no annual fee and offers 5x points on the first $25,000 of combined purchases per cardmember year on office supply stores, internet, cable TV, mobile phones, and landlines, and 2x points on the first $25,000 of combined purchases per cardmember year on restaurants and gas stations
  • The Ink Business Unlimited® Credit Card (review) has no annual fee and offers a flat 1.5x points on all purchases
  • The Ink Business Preferred® Credit Card (review) has a $95 annual fee and offers 3x points on the first $150,000 spent each cardmember year on travel, shipping purchases, internet, cable, phone services, and advertising purchases made with social media sites and search engines

As you can see, these cards are all great complements that can greatly increase the pace at which you earn Ultimate Rewards points. For example, if you pair the Chase Sapphire Preferred with the no annual fee Chase Freedom Unlimited you’d earn 3x points on dining, online groceries, streaming services, and drugstores, 2x points on travel, and 1.5x points on all other purchases, which is an incredible rewards structure with a single $95 annual fee.

Of course, this assumes that you’re willing to get multiple cards, which some people aren’t.

Get several Chase credit cards to maximize your points

So, which card is better?

The Capital One Venture is a well-rounded card for anyone who doesn’t spend a lot in categories that are otherwise eligible for bonuses. The card offers a generous welcome bonus, no foreign transaction fees, Global Entry fee credit, and more. The card also offers an excellent return for those who are looking for cash back towards travel. The Venture Card got even more valuable, when more airline partners were added, and transfer ratios were improved.

The Chase Sapphire Preferred, on the other hand, offers bonus points on dining and travel, and best of all, the ability to combine points with some other great cards that have excellent bonus categories as well. On top of that, the card has an exceptional welcome bonus, a new $50 annual hotel credit, and more.

Between these two cards, I’d say that if you just want to use one card for everything and don’t spend that much on dining and travel, the Venture Card is a solid option. The card is more flexible than ever before, which makes it more compelling.

Meanwhile, if you do spend a lot on dining and travel, and if you’re willing to combine the card with some other excellent ones, the Sapphire Preferred would be my first choice. That’s especially true with the current bonus, which is virtually unheard of.

Personally, I think the combination of the Chase Sapphire Preferred and the Chase Freedom Unlimited is tough to beat if you’re willing to get two cards.

Which do you prefer — the Capital One Venture Card or Chase Sapphire Preferred Card?

Conversations (2)
Newest comments are displayed first.

The comments on this page have not been provided, reviewed, approved or otherwise endorsed by any advertiser, and it is not an advertiser's responsibility to ensure posts and/or questions are answered.

Type your response here.

If you'd like to participate in the discussion, please adhere to our commenting guidelines. Anyone can comment, and your email address will not be published. Register to save your unique username and earn special OMAAT reputation perks!

  1. Bob

    If you don't spend that much on travel and dining then don't get a travel card. I'm sorry Lucky, I know Capital One sponsors you but these two cards aren't even close in the value proposition. 99.99% of people would be better off with a no fee 2% cashback card than the Venture. The Sapphire Preferred is tiers above in terms of its partners, insurances and travel portal benefit.

    1. Andrew

      @Bob

      With the new transfer partners, I think they're pretty much equal. While the travel protections on the preferred are far superior, I mostly use points for international business travel. The Venture card has better partners at this point. Chase really needs to step up their game to remain competitive. The Chase Eco-system is really where you start seeing a better value proposition.

Featured Comments Load all 2 comments Most helpful comments ( as chosen by the OMAAT community ).

The comments on this page have not been provided, reviewed, approved or otherwise endorsed by any advertiser, and it is not an advertiser's responsibility to ensure posts and/or questions are answered.

Andrew

@Bob With the new transfer partners, I think they're pretty much equal. While the travel protections on the preferred are far superior, I mostly use points for international business travel. The Venture card has better partners at this point. Chase really needs to step up their game to remain competitive. The Chase Eco-system is really where you start seeing a better value proposition.

Bob

If you don't spend that much on travel and dining then don't get a travel card. I'm sorry Lucky, I know Capital One sponsors you but these two cards aren't even close in the value proposition. 99.99% of people would be better off with a no fee 2% cashback card than the Venture. The Sapphire Preferred is tiers above in terms of its partners, insurances and travel portal benefit.

Meet Ben Schlappig, OMAAT Founder
4,523,713 Miles Traveled

25,807,500 Words Written

28,675 Posts Published

Keep Exploring OMAAT