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Capital One Venture vs Chase Sapphire Preferred

Capital One Venture vs Chase Sapphire Preferred

Million Mile SecretsCapital One Venture vs Chase Sapphire PreferredMillion Mile Secrets Team

Getting y’all the best deals is our #1 priority.  It’s why we always put the top card offers on our Hot Deals page.  So it’s easy to find the right card for your particular situation!

For example, the Chase Sapphire Preferred is our top pick for beginners to miles & points.  And we rank the Capital One Venture card as having the simplest reward system.   

Capital One Venture Vs Chase Sapphire Preferred
Many Folks Like the Capital One Venture Card Because It’s Easy to Earn & Use Points for Paid Travel Without Worrying About Award Charts, Partners, and Blackout Dates. But Did You Know You Can Do This With the Chase Sapphire Preferred, Too?

But if you’re deciding between both cards, there are differences you should be aware of!

Million Mile Secrets reader, Natalie, commented:

I have the Capital One Venture Rewards Credit card and I can purchase a flight then use the ‘fare eraser’ to use my points to pay for that flight.

Does the Chase Sapphire Preferred do the same?  I LOVE that it gives you 2X Chase Ultimate Rewards points per $1 on certain things!

Thanks for your question, Natalie!

Yes, you can use the Chase Ultimate Rewards points you earn with the Chase Sapphire Preferred card to book paid flights like you can with the Capital One Venture card.

And even better, you can transfer Chase Ultimate Rewards points to airline and hotel partners for Big Travel!

Let’s take a look at how the Capital One Venture Card compares to the Chase Sapphire Preferred!

Capital One Venture vs Chase Sapphire Preferred

Link:   Capital One Venture Card

Link:   Our Review of the Capital One Venture

Link:   Chase Sapphire Preferred

Link:   Our Review of the Chase Sapphire Preferred

Here’s what you get with the Chase Sapphire Preferred and Capital One Venture cards:

CardSign-Up BonusBenefitsForeign Transaction FeesAnnual Fee
Capital One Venture Rewards Credit Card50,000 Venture miles when you spend $3,000 on purchases within the first 3 months of opening your account2X Venture miles on every purchase

• Redeem for cash back at .5 cents per mile

• Redeem for paid travel at 1 cent per mile
None$95 annual fee waived for the first year
Chase Sapphire Preferred50,000 Chase Ultimate Rewards points when you spend $4,000 on purchases within the first 3 months of opening your account

5,000 bonus Chase Ultimate Rewards points when you add the first authorized user and make a purchase within the first 3 months
• 2X Chase Ultimate Rewards points on travel and dining

• 1X Chase Ultimate Rewards points on other purchases

• Redeem for cash back at 1 cent per point

Transfer to airline and hotel partners like United Airlines, Southwest, British Airways, and Hyatt for Big Travel!


None$95 annual fee waived for the first year

Many folks like the Capital One Venture card because you can use the miles you earn for paid flights.  Plus, you earn 2 Venture miles per $1 you spend on all purchases.  So you don’t have to worry about blackout dates, tracking bonus categories, or sorting through award charts!

With the Chase Sapphire Preferred, you’ll only earn 2X Chase Ultimate Rewards points per $1 on travel and dining purchases.  But not all points are created equal!

The Chase Ultimate Rewards points you earn with Chase Sapphire Preferred can be worth much more than Capital One Venture miles.  But it depends on how you redeem them. 

Note:  Although Capital One calls them “miles,” you can NOT use Capital One miles with airline frequent flyer programs to book award tickets.

5 Things You Should Know: Capital One Venture vs Chase Sapphire Preferred

Here are 3 important aspects to consider when deciding between the Capital One Venture vs Chase Sapphire Preferred.

1.   What Are Your Rewards Worth Toward Paid Travel?

With the Capital One Venture card, your miles are worth 1 cent each.  And because you earn 2 Venture miles on all purchases, you’re essentially earning 2 cents toward travel for every $1 you spend.

You can use your miles for nearly any travel purchase, like taxi rides, hotels, room service, and free flights.

To redeem your miles for travel, just buy travel like you normally would with your card.  Then, you have 90 days to sign-in to your online account, find the travel purchase, and “erase” it with your miles!

There’s NO minimum redemption increment when redeeming miles, unless you’re using miles to partially pay for a travel purchase.  In that case, the minimum is 2,500 miles ($25).

Natalie likes her Capital One Venture card because she doesn’t have to worry about blackout dates and she earns miles and points for her flight or hotel!

Capital One Venture Vs Chase Sapphire Preferred
The Capital One Venture Card Makes It Easy to Redeem the Miles You Earn for Paid Travel, and Chase Sapphire Preferred Card Does Too!

But she can also book airfare, hotels, and rental cars through the Chase travel portal by redeeming points she earns with Chase Sapphire Preferred card.  Chase Sapphire Preferred cardholders get 1.25 cents per point worth of value when booking paid travel through the Chase Travel portal.  This is a better deal than the 1 cent per mile she gets with the Capital One Venture card.

And I’ve found prices through the Chase travel portal are similar to what you’d find on ExpediaPriceline, or any other online travel agency.

2.   What Are Your Spending Habits?

Which card is better depends on how much bonus category spending Natalie does.

If she does NOT make a lot of travel and dining purchases to earn 2X Chase Ultimate Rewards points with the Chase Sapphire Preferred, most of her purchases will earn 1 Chase Ultimate Rewards point per $1.   So she’ll get 1.25 cents per $1 spent (on non-bonus spending like groceries).

In this case, the Capital One Venture card’s 2 cents per $1 spent is a better deal.

But if travel and dining purchases make up more than 60% of Natalie’s purchases, she’ll get more travel with the Chase Sapphire Preferred

That’s because she can earn 2.5 cents (2X Chase Ultimate Rewards points on travel & dining X 1.25 cents per point) per $1 spent on travel and dining.  And Chase Ultimate Rewards points can be extremely valuable if you know how to use them!

3.   Do the Math

Let’s say Natalie spends $10,000 per year on a card.  If $6,000 of her purchases are on dining & travel (60% of her total spending) and $4,000 is non-bonus spending, then she’ll earn:

16,000 Chase Ultimate Rewards points with the Chase Sapphire Preferred ($6,000 X 2X points on travel and dining + $4,000 X 1 point on everything else), or

20,000 miles with the Capital One Venture card ($10,000 X 2X miles on all spending)

That would give her $200 in travel with Chase Sapphire Preferred (16,000 Chase Ultimate Rewards points X 1.25 cents per point) or $200 in travel with the Capital One Venture card (20,000 miles X 1 cent per mile).

So if more than 60% of her purchases are on dining and travel, then the Chase Sapphire Preferred is the better choice.

4.   Redeeming Your Rewards for Cash Back

You can also redeem the rewards you earn on the Capital One Venture and Chase Sapphire Preferred for cash back.  This gives you the ultimate flexibility because you can use your miles & points any way you want!

Capital One Venture Vs Chase Sapphire Preferred
Nothing’s Easier Than Cold Hard Cash! So Which Card Is Better for Folks Who Want to Earn Cash Back?

With the Chase Sapphire Preferred, each point is worth 1 cent for cash back.  With the Capital One Venture, each mile is only worth 0.5 cents for cash back.

So while you’ll earn 2 points everywhere with the Venture card, you’ll still earn the same 1% in cash back as you would with the Chase Sapphire Preferred (2 Venture miles X $1 X 0.5 cents per mile).

But you’ll get twice as much cash back when using the Chase Sapphire Preferred to earn 2X points on dining and travel. Because in those categories you earn 2% cash back instead of 1% with the Venture card (2 Chase Ultimate Rewards points X $1 spent on dining & travel X 1 cent per point).

5.   Transfer Rewards to Airline and Hotel Partners for Big Travel!

What really sets the Chase Sapphire Preferred apart from the Capital One Venture card is the ability to transfer points to airline and hotel partners.  This could change Natalie’s travel adventures!

She can get much more than 2 cents per point if she redeems points for Big Travel, like Business Class flights to Europe on United Airlines, flights on Southwest when you have the Companion Pass, or stays at top Hyatt hotels.

Capital One Venture Vs Chase Sapphire Preferred
50,000 Chase Ultimate Rewards Points Can Get You a 2-Night Stay at the All-Inclusive Hyatt Ziva Rose Hall in Jamaica, Worth ~$1,582!

In the example above, you get a value of ~3 cents per point (~$1,582 for 2 nights / 50,000 points)!  A stay like this would cost you ~158,200 Capital One Venture miles!

Which Card Is Better?

If you do a great deal of spending on travel and dining, then the Chase Sapphire Preferred card wins.

And for folks looking for Big Travel with Small Money, the Chase Sapphire Preferred card is the better choice.  Because you can transfer points to partners, like Hyatt and United Airlines to book award travel and get more than 2 cents per point!

But if you prefer a very simple rewards system where you book travel with your card and redeem miles for those purchases later, the Capital One Venture card is a better option.

If you’re interested in cash back, both cards are more or less equal.  Again, unless you do a lot of travel and dining spend.

Bottom Line

When comparing the Capital One Venture to the Chase Sapphire Preferred, the better card depends on what you want to use the miles and points for and how much you spend on travel and dining.

The miles you earn from the Capital One Venture card are extremely easy to redeem.  But the Chase Sapphire Preferred is our top pick for beginners to miles & points.

With the Capital One Venture card, you earn 2 Venture miles per $1 on all purchases.  Then, you can redeem miles to offset your travel purchases.  Your miles are worth 1 cent each and you don’t have to worry about blackout dates and you’ll earn miles and points for your trip.

The Chase Sapphire Preferred is a great option for folks looking to get Big Travel with Small Money!  Because you can transfer the flexible points you earn to airline and hotel partners for luxury travel, like Business Class award flights to Europe or amazing hotel stays!

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Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Chase Sapphire Preferred® named a 'Best Travel Credit Card' by MONEY® Magazine, 2016-2017
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel.
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards

More Info

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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4 comments

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The Chase Saphire Preferred does give you more options to use your points and great for starting out in the mile and point journey. As the MMS Team recommends to new members is do what is right for you, know the spend requirements and that you can pay off the balance and also if the sign up bonus is one of the better offers for the card because some offers are repeated over time. I just received an offer in the mail for Capitol One Venture for 100,000 miles after meeting spend so my choice on these 2 cards might make my choice lean towards the Capitol One Venture. It does not hurt to have multiple options for redeeming miles.

Million Mile Secrets

All good points. And you probably aren't going to be able to beat a targeted 100,000 Capital One Venture miles bonus! That's an amazing deal!

There is one other advantage of the Chase card you forgot to mention
You can amass Chase points much quicker with the Chase Freedom card getting 5% back on rotating categories. Then use the Chase Saphire Preferred card to transfer these points to airline miles.

Million Mile Secrets

Yes, that is a great strategy!