For a number of years, the Chase Sapphire Preferred® Card has been one of the top travel rewards credit cards for people who want flexibility with redemption options. With the ability to transfer points to travel partners, great travel benefits, and a relatively low annual fee, the Sapphire Preferred® Card made a name for itself in providing incredible value. With Capital One’s recently announced changes to their rewards redemption options, including the ability to transfer miles to airline partners, the Capital One Venture Rewards Credit Card now goes toe-to-toe with the Sapphire Preferred® Card in several categories, and even bests it in some.
Rewards earning rates
The Capital One Venture Rewards Credit Card makes earning rewards straightforward with two miles earned per $1 spent on every purchase. The earnings rate is not limited to travel purchases; you earn two miles regardless of what you are using the card for. The Chase Sapphire Preferred® Card, on the other hand has a tiered earnings rate of two Ultimate Rewards® points earned per $1 spent on travel and dining purchases as well as on up to $1,000 spent at grocery stores monthly through April 30, 2021, and one point per $1 spent on all other purchases. If you are doing a lot of spending on travel and dining purchases, the Chase card matches the number of miles earned by the Venture card; however, if are using your card for a variety of purchases, not just travel and dining, earning two miles per dollar on every purchase quickly adds up for some huge earning potential with the Capital One Venture Rewards Credit Card.
Bonus offers
Both cards offer excellent bonuses for new card members. The Capital One Venture Rewards Credit Card is currently offering 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. The Sapphire Preferred® Card is currently offering new cardholders 80,000 bonus points after spending $4,000 on purchases within the first three months of opening an account, and that's worth up to $1,000 when redeemed for travel through the Chase Ultimate Rewards® program. Speaking in terms of rewards earned for the bonus and the value of those rewards, the Sapphire Preferred® Card gets an edge in this area because although the required spend is higher, the rewards are worth more if redeemed for travel through Chase's portal. Furthermore, Sapphire Preferred® cardholders can also earn up to $50 in statement credit toward grocery store purchases during the first year as a cardholder.
Redemption options
Since the Capital One Venture Rewards Credit Card's inception, miles were usually most valuable when redeemed as a statement credit for travel purchases made with the card. While this did provide flexibility in the sense that almost any travel purchase could have the miles applied to reduce or eliminate that part of your balance, it did limit the value of Venture miles to one cent per mile. With the recent announcement of the Venture card adding airline and hotel transfer partners though, a whole new realm of possibilities has opened up for using rewards. In addition to redeeming miles for travel purchases, Venture miles can now be transferred to one of their travel partners, which means there’s now the potential for a higher rewards value. The Chase Sapphire Preferred® Card has had this partner transfer benefit for quite some time. The fact that both cards now have an option for travel partner reward transfers helps to level the playing field.
To learn more about how these two cards match up, check out the table below to compare the various rewards, benefits, features, and fees associated with each card.
Chase Sapphire Preferred® vs. Capital One Venture
$95
$95
80,000 bonus points after you spend $4,000 on purchases within the first three months of opening an account— worth $1,000 toward travel when you redeem through Chase Ultimate Rewards®. Plus, earn up to $50 in statement credit toward grocery store purchases during your first year
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
Earn two points for each dollar spent on travel and dining purchases and one point per dollar on all other purchases, plus earn five points on Lyft rides through March 2022. And, earn two points per $1 on up to $1,000 spent on grocery store purchases monthly through April 30, 2021.
Earn two miles per $1 spent on every purchase
- 25% more value when redeemed for travel through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel when redeemed through Chase Ultimate Rewards® compared to $800 when redeemed for cash
- Points transfer to leading airline and hotel loyalty programs
- Redeem for a wide selection of gift cards
- Redeem your miles without blackout dates or brand-loyalty— just make your travel purchases and cover them with a statement credit
- Transfer miles to leading airline and hotel loyalty reward programs
- Redeem for a wide selection of gift cards
- Aer Lingus AerClub
- Air France/KLM Flying Blue
- British Airway Avios
- JetBlue TrueBlue
- Southwest Airlines Rapid Rewards
- United Airlines MileagePlus
- Virgin Atlantic Flying Club
- Marriott Bonvoy
- And more— to see a full list of Chase Sapphire Preferred® travel partners, please see our guide to Chase Ultimate Rewards®
- Aeromexico Club Premier
- Air Canada Aeroplan
- Air France - KLM Flying Blue
- Asia Miles
- Finnair Plus
- Qantas Frequent Flyer
- Qatar Airways Privilege Club
- JetBlue Trueblue
- Signapore Airlines KrisFlyer
- Wyndham Rewards
- And more— to see a full list of Capital One Venture travel partners, please see our Capital One Venture review
15.99% - 22.99% Variable
17.24% - 24.49% (Variable)
$0
$0
Trip cancellation/interruption insurance up to $10,000 per person and $20,000 per trip for your pre-paid, non-refundable travel expenses
Trip delay reimbursement up to $500 per ticket if you're delayed more than 12 hours or require an overnight stay
Baggage delay insurance up to $100 a day for five days for baggage delays over 6 hours
Lost luggage reimbursement up to $3,000 per passenger
Travel accident insurance up to $500,000
Travel and emergency assistance services
Auto rental collision damage coverage which provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most rental cars in the U.S. and abroad
Lost luggage reimbursement up to $3,000 for lost or stolen luggage
24-hour travel and emergency assistance service
Travel accident insurance which provides automatic insurance for a covered loss at no extra charge when you use your credit card to purchase your fare
- Auto rental collision damage waiver offers insurance coverage for rentals providing reimbursement for the actual cash value on damage due to collision or theft on most rental vehicles
- Receive up to $100 credit for Global Entry or TSAPre✓® Approved when you use your Venture card
- Purchase protection covers new purchases made with your card for 120 days against damage or theft up to $500 per claim and $50,000 per account
- Extended warranty protection extends the time period of the U.S. manufacturer’s warranty on items purchases with your card by an additional year on eligible warranties of three years or less
Purchase security covers new purchases for 90 days against damage or theft up to $500 per claim and $50,000 per account
Extended warranty protection doubles the time period of the original U.S. manufacturer’s warranty (up to one year) on eligible warranties of three years or less
24/7 access to customer service specialist
Complimentary access to Visa Signature Concierge who can help find tickets to top sporting or music events, make dinner reservations, and even help sending the perfect gift to a loved one
Zero Liability Protection which means you won’t be held responsible for unauthorized charges made with your card or account information
Real time fraud monitoring with alerts via email, text or phone call
24/7 access to customer service specialist
Complimentary access to Visa Signature Concierge service for comprehensive, personalized assistance in in dining, entertainment and travel
$0 fraud liability for unauthorized charges if your card is lost or stolen
Virtual account numbers allow you to keep your card number to yourself and shop online more securely
For a full synopsis of each card, be sure to check out our Chase Sapphire Preferred® Card and Capital One Venture Rewards Credit Card reviews.
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