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Chase Sapphire Preferred vs Capital One Venture
|Card Name||Welcome Bonus|
|Chase Sapphire Preferred® Card||60,000 Chase Ultimate Rewards points (worth $600 in cash back or $750 in travel) after you spend $4,000 on purchases in the first 3 months from account opening|
|Capital One® Venture® Rewards Credit Card||50,000 Venture miles after you spend $3,000 on purchases within the first 3 months of account opening.
Two of the top credit cards with our readers are the Chase Sapphire Preferred and the Capital One Venture cards. The Chase Sapphire Preferred is the best card for beginners, while the Capital One Venture is popular with folks who prefer a simple rewards program.
Both cards offer an excellent sign-up bonus and rewards earning. So today we’ll take a deep dive into both cards, and help you figure out which is better for you.
One of these cards is a better deal for most folks. But we’ll help you decide!
Which Card Is Better? Chase Sapphire Preferred vs Capital One Venture
Link: Chase Sapphire Preferred
Link: Capital One Venture
1. Best Sign-Up Bonus
Earning sign-up bonuses when you get a new card is one of the fastest and easiest ways to earn miles and points for Big Travel.
This sign-up bonus is worth $750 in travel (1.25 cents per point) when you redeem your points through the Chase Ultimate Rewards travel portal. And potentially much more when you transfer points to travel partners like United Airlines, Hyatt, or Singapore Airlines!
In contrast, the Capital One Venture sign-up bonus is 50,000 Venture miles after you spend $3,000 on purchases in the first 3 months of opening your account.
You can redeem your Venture miles at a rate of 1 cent per mile towards travel. So the sign-up bonus is worth $500. But you can NOT transfer Venture miles to airline and hotel partners.
Winner: Chase Sapphire Preferred
2. Best Point Earning
Once you get your new card, it’s time to start spending and earning points. Each card earns points in different ways.
With the Chase Sapphire Preferred, you’ll earn:
- 2X Chase Ultimate Rewards points per $1 you spend on travel and dining worldwide
- 1X Chase Ultimate Rewards point per $1 you spend on everything else
And with the Capital One Venture, you’ll earn
- 2X Venture miles on all purchases (except Hotels.com purchases booked and paid through this website, which earn 10X Venture miles through January 31, 2020)
At first glance, the Capital One Venture appears to have an overall higher earning rate, because it earns 2X everywhere. But you also have to consider what these points and miles are worth when you redeem them for travel.
Chase Ultimate Rewards points earned from the Chase Sapphire Preferred are worth 1.25 cents each when you use them to book travel through the Chase Ultimate Rewards travel portal. So for travel and dining, you’ll essentially get a return of 2.5 cents per $1 (2 Chase Ultimate Rewards points per $1 X 1.25 cents per point). And 1.25 cents per $1 (1 Chase Ultimate Rewards point per $1 X 1.25 cents per point).
So if you don’t do a lot of spending on travel and dining, the Capital One Venture is actually the better deal for ongoing spend. But how much is a lot?
Let’s say you spend $10,000 per year on a card. If $6,000 of your purchases are on dining & travel (60% of total spending) and $4,000 is non-bonus spending, then you’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 Venture miles with the Capital One Venture card ($10,000 X 2X miles on all spending)
That would give you $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 Venture miles X 1 cent per mile).
So if more than 60% of your purchases are on dining and travel, then the Chase Sapphire Preferred is the better choice.
Winner: Capital One Venture, unless over 60% of your purchases are travel and dining
3. Best Redemption Value
Capital One Venture miles are simple and straightforward to earn and redeem.
You can use your miles for nearly any travel purchase, like taxi rides, hotels, room service, and free flights. But you can NOT transfer Venture miles to airlines or hotels.
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).
With the Chase Sapphire Preferred card, you can redeem your Chase Ultimate Rewards points for cash back (1 cent per point) or paid travel through the Chase Ultimate Rewards travel portal (1.25 cents per point). But there’s another option!
Chase Sapphire Preferred cardholders have the ability to transfer Chase Ultimate Rewards points at a 1:1 ratio to the following airline and hotel partners:
- Aer Lingus
- British Airways
- Flying Blue (Air France / KLM)
- Korean Air
- Singapore Airlines
- United Airlines
- Virgin Atlantic
These options open up so many more opportunities for travel and can potentially get you much more value for your points.
For example, Million Mile Secrets contributor Alex often travels between Salt Lake City and Seattle. He usually stays at the Hyatt Place Salt Lake City Farmington / Station Park. This is a beautiful category 1 hotel which costs 5,000 Hyatt points per night.
A sample paid night at this hotel costs $164. But instead, you could transfer 5,000 Chase Ultimate Rewards points to Hyatt for an award night. In this case, your Chase Ultimate Rewards points are worth 3.28 cents each ($164 cost of a paid night / 5,000 points per night). That’s much higher than the 1.25 cents per point value you’d get booking through the Chase Ultimate Rewards travel portal.
But if you used the Capital One Venture card for this stay, you could “erase” the cost of the $164 room with 16,400 Venture miles. That’s more than 3X the number of Chase Ultimate Rewards points you’d need for the same exact stay.
Winner: Chase Sapphire Preferred
4. Best Travel Protection Benefits
If you’ll be traveling often, consider the insurance and protection benefits each card provides. Delays, cancellations, and mishaps can happen despite our best intentions.
The Chase Sapphire Preferred offers excellent travel protections, including:
- Primary car rental insurance – Covers damage due to theft or collision to your rental car, when you pay for the rental with your card
- Trip delay reimbursement – Get up to $500 back per ticket when your trip is delayed more than 12 hours
- Trip cancellation / interruption – Up to $10,000 per covered trip
- Baggage delay – Up to $100 per day for a maximum of 5 days when your bags are delayed for 6+ hours
While many cards offer rental car insurance, the Chase Sapphire Preferred is one of the few cards that offer primary rental car insurance. This means you do not need to even report the accident to your normal car insurance provider or pay their deductible.
In comparison, the Capital One Venture card offers secondary car insurance, meaning it will only cover what’s left over after you file a claim with your primary car insurance provider . You will still be responsible for the deductible through your insurance compnay, and you will need to report the accident to them, which can lead to raises in your premiums.
And the Capital One Venture does NOT offer coverage for trip or baggage delay or trip interruption or cancellation.
Winner: Chase Sapphire Preferred
5. Best Annual Fee
Both the Chase Sapphire Preferred and the Capital One Venture cards have the same $95 annual fee. But this fee is waived the first year on the Capital One Venture, which gives it the leg up over the Chase Sapphire Preferred in this particular category.
Winner: Capital One Venture
6. Best Foreign Transaction Fees
Luckily, when deciding between the Chase Sapphire Preferred and the Capital One Venture card, you never have to worry about foreign transaction fees. So the 2 cards the same in this category.
Winner: It’s a Tie
7. Best Worldwide Acceptance
Winner: It’s a Tie
Bottom Line: Chase Sapphire Preferred vs Capital One Venture
For most folks, the Chase Sapphire Preferred is a better deal. It edges out the Capital One Venture card in most areas, and Chase Ultimate Rewards points are more valuable because of the better redemption rate through the Chase Ultimate Rewards portal and by transferring points to airline and hotel programs.
- Best Sign-Up Bonus: Chase Sapphire Preferred offers $250+ more value
- Best Point Earning: Capital One Venture offers a straightforward 2X Venture miles on everything!
- Best Redemption Value: Chase Sapphire Preferred can get you significantly more value when you transfer points to travel partners
- Best Travel Protection Benefits: Chase Sapphire Preferred offers primary rental car insurance, trip delay reimbursement, trip cancellation / interruption, and baggage delay insurance
- Best Annual Fee: Both cards charge a $95 annual fee, but the Capital One Venture’s is waived the first year
- Both cards tied in worldwide acceptance and no foreign transaction fees
You can’t go wrong with either card. In fact, if you find yourself not traveling or dining out very often, then the Capital One Venture card might be a better pick. Especially if you don’t like fussing with award charts or worrying about blackout dates.