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The Chase Sapphire Preferred® Card and the Capital One Venture Rewards Credit Card both have excellent travel rewards programs, but the choice between them depends on your spending habits and rewards redemption preferences. The Chase Sapphire Preferred® Card is a better choice for consumers who spend a lot on dining and travel or value flexible redemption options. For anyone else, the Capital One Venture Rewards Credit Card is a strong credit card choice. By highlighting the cards' differences, this guide helps you choose the card that best fits your needs.
Benefits and Features: Chase Sapphire Preferred® Card vs Capital One Venture Rewards Credit Card
|Chase Sapphire Preferred® Card||Capital One Venture Rewards Credit Card|
|Foreign Exchange Fee||$0||None|
|APR||15.99% - 22.99% Variable||17.24% - 24.49% (Variable)|
|Earnings Rate||2X points on dining at restaurants including eligible delivery services, takeout and dining out and travel & 1 point per dollar spent on all other purchases worldwide||2 Miles per dollar on every purchase, every day|
|Maximum Point Value||1.25 cents per point||1 cent per mile|
|Bonus||Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®. Plus earn a $50 statement credit towards grocery store purchases within your first year of account opening.||Earn 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3,000 on purchases in the first 3 months|
|Full Review||Full Review|
Which Card Is Better for the Average User?
The average consumer will be better off applying for the Capital One Venture Rewards Credit Card, assuming they can redeem their miles for a maximum value of 1 cent per mile. The main difference between the two cards is that the Capital One Venture Rewards Credit Card awards 2 Miles per dollar on every purchase, every day, whereas the Chase Sapphire Preferred® Card only awards 2X points on dining at restaurants including eligible delivery services, takeout and dining out and travel & 1 point per dollar spent on all other purchases worldwide This means that for the average user, meaning someone who has broad expenses, the Capital One Venture Rewards Credit Card will be the better card due to its outsized rewards.
Winner: The Capital One Venture Rewards Credit Card
What About Frequent Travelers?
If you travel frequently or even frequently dine, you'll be better off with the Chase Sapphire Preferred® Card. Of course, this assumes that most of your spending is concentrated in dining or travel categories. Again, this is because the Chase Sapphire Preferred® Card awards users two points on travel and dining, which can be redeemed for 25% more value when redeemed for travel.
Winner: The Chase Sapphire Preferred® Card
Rewards Redemption: Chase Sapphire Preferred® Card vs Capital One Venture Rewards Credit Card
The amount of research you're willing to do to maximize your rewards and get flexible redemption options will determine which card is best for you. The rewards values discussed above assume you're redeeming your points and miles for their maximum value, which is rarely the case. There are generally two categories of cardholders: rewards maximizers and typical users. Depending on which category you fall into, you'll likely prefer one card over the other.
Rewards Maximizers: The Chase Sapphire Preferred® Card
More redemption options and bonus points make the Chase Sapphire Preferred® Card a better card for users who don't mind doing the extra work to maximize the value of their points. With the Chase Sapphire Preferred® Card, you'll have the option to transfer your points to several airline and hotel partners. The list includes:
- Aer Lingus AerClub
- British Airways Executive Club
- Flying Blue AIR FRANCE KLM
- Iberia Plus
- Korean Air SKYPASS
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards
- United MileagePlus
- Virgin Atlantic Flying Club
- IHG Rewards Club
- Marriott Rewards
- The Ritz-Carlton Rewards
- World of Hyatt
With the Chase Sapphire Preferred® Card, points are transferred on a 1:1 basis, so it's possible to increase the value of your points just by sending them to a more valuable rewards program. Even if you don't transfer your points, any travel booked with points through the Ultimate Rewards portal earns a 25% discount, making each point worth 1.25 cents.
When redeeming your points and miles for cash back, your points are worth 1 cent each with the Chase Sapphire Preferred® Card, while the Capital One Venture Rewards Credit Card awards you a value of 0.5 cents per mile. We don't advise using the Capital One Venture Rewards Credit Card for cash back due to its poor value. As a matter of fact, among the three major credit card rewards programs—Chase Ultimate Rewards, American Express Membership Rewards and Citi ThankYou—Chase provides the best cash-back redemption value. Therefore, it's better to apply for the Chase Sapphire Preferred® Card if cash back is a feature that you want to take advantage of.
Typical Users: The Capital One Venture Rewards Credit Card
If you're unlikely to use the Ultimate Rewards portal to book travel or convert your points, you'll be better off with the Capital One Venture Rewards Credit Card. The card's rewards program offers 2 Miles per dollar on every purchase, every day. This rate ensures you'll receive a solid 2% rewards rate without having to put any thought into your spending categories. There are two effective ways to redeem your miles: booking travel directly through Capital One or booking it on your own and then using Purchase Eraser to reimburse yourself in the form of a statement credit.