Key Points

• Both cards charge $95 annually and target travelers who want flexible points without premium fees.
• Chase Sapphire Preferred offers better earning rates on dining and travel purchased through their portal, while Capital One Venture provides simpler 2x miles on everything.
• Your choice depends on whether you value transfer partners and bonus categories or prefer straightforward earning with flexible redemptions.

Introduction

Choosing between the Chase Sapphire Preferred and Capital One Venture feels like picking between two excellent friends—both will serve you well, but in slightly different ways. These cards sit in the sweet spot for travelers: premium enough to offer real value, affordable enough that the $95 annual fee won't make you wince. But which one deserves a spot in your wallet?

I've spent years testing both cards across dozens of trips, and the answer isn't as simple as "this one's better." The right choice depends on how you actually travel and redeem rewards. Let me walk you through everything you need to know to make the smartest decision for your situation.

Quick Answer: Which Card Should You Get?

Get the Chase Sapphire Preferred if you dine out regularly, want access to valuable transfer partners like Hyatt and United, and don't mind learning the transfer game to maximize value.

Get the Capital One Venture if you want simplicity, prefer booking travel however you choose, or you're already past Chase's 5/24 rule and can't get the Sapphire Preferred anyway.

Still not sure? Keep reading—I'll break down exactly how these cards compare in every category that matters.

Chase Sapphire Preferred Overview

The Chase Sapphire Preferred remains one of the most popular travel cards for good reason. With a current welcome bonus of 60,000 points after spending $4,000 in the first three months, you're looking at $750+ in travel value right out of the gate when you transfer to partners.

How You Earn Points

The earning structure rewards specific spending categories:

• 5x points per dollar on travel purchased through Chase Ultimate Rewards
• 3x points per dollar on dining (including eligible delivery services)
• 3x points per dollar on online grocery purchases (excluding Target, Walmart, and warehouse clubs)
• 3x points per dollar on select streaming services
• 2x points per dollar on other travel purchases
• 1x point per dollar on everything else

This means your $100 dinner earns 300 points, while that same $100 at a gas station earns just 100 points. The bonus categories can add up quickly if they match your spending patterns.

The Transfer Partner Advantage

Here's where the Sapphire Preferred truly shines. Chase Ultimate Rewards transfers to 14 airline and hotel partners at a 1:1 ratio, including heavy hitters like:

• World of Hyatt (often 2+ cents per point value)
• United MileagePlus
• Southwest Rapid Rewards
• British Airways Executive Club (great for short flights)

I've consistently gotten 1.5 to 2 cents per point in value by transferring to partners, compared to the 1.25 cents you get booking through the Chase portal. That difference turns 50,000 points from a $625 trip into potentially $1,000 worth of travel.

Annual Benefits

Beyond earning, you get:

• $50 annual Ultimate Rewards Hotel Credit (on bookings $50+)
• No foreign transaction fees
• Primary rental car coverage (better than secondary)
• Trip cancellation/interruption insurance
• Baggage delay insurance

The $50 hotel credit effectively reduces your annual fee to $45 if you use it, and the primary rental car coverage alone saves you $15-30 per rental by letting you decline the counter insurance.

Ready to apply? Get the Chase Sapphire Preferred and start earning toward your next trip.

Capital One Venture Overview

Capital One took a different approach with the Venture card: keep it dead simple. The current welcome bonus offers 75,000 miles after spending $4,000 in the first three months—that's $750 in travel when redeemed.

How You Earn Miles

The earning structure couldn't be easier:

• 2x miles per dollar on every single purchase
• No categories to track
• No quarterly activations
• No spending caps

You spend money, you get 2x miles. Done. There's something liberating about never having to remember which card to use where. Your grocery run, gas fill-up, and restaurant meal all earn the same rate.

The Redemption Flexibility

Capital One's transfer partners have grown significantly, now including:

• Air Canada Aeroplan
• Air France-KLM Flying Blue
• British Airways Executive Club
• Turkish Airlines Miles&Smiles
• Avianca LifeMiles
• Wyndham Rewards

But here's the real advantage: Capital One's "Purchase Eraser" lets you redeem miles for any travel purchase at 1 cent per mile. Book wherever you want—directly with airlines, through third-party sites, even Airbnb—then erase the charge with miles. No blackout dates, no award availability frustrations.

You can also transfer miles to Capital One's 15+ airline and hotel partners at a 1:1 ratio, giving you flexibility to optimize value when opportunities arise.

Annual Benefits

The Venture provides:

• No foreign transaction fees
• Travel accident insurance
• 24/7 travel assistance services
• Auto rental collision damage waiver

It's a leaner benefits package than the Sapphire Preferred, but you're not paying for perks you might not use. The simplicity extends beyond just earning—Capital One keeps the entire experience straightforward.

Want to keep it simple? Apply for the Capital One Venture and start earning 2x miles on everything.

Head-to-Head Comparison

Earning Rates: Where Each Card Excels

Let's put real numbers on this. Imagine you spend $1,500 monthly across typical categories:

• $500 on dining and groceries
• $300 on gas and general shopping
• $200 on streaming and subscriptions
• $500 on other expenses

With Chase Sapphire Preferred:

• Dining/groceries: $500 × 3 = 1,500 points
• Other spending: $1,000 × 1 = 1,000 points
• Monthly total: 2,500 points
• Annual total: 30,000 points

With Capital One Venture:

• All spending: $1,500 × 2 = 3,000 miles
• Monthly total: 3,000 miles
• Annual total: 36,000 miles

The Venture pulls ahead with flat-rate earning if your spending doesn't heavily favor dining. But here's the crucial question: what are those points worth when you redeem them?

Redemption Value: The Make-or-Break Factor

This is where comparing these cards gets interesting. Points earned with one card aren't necessarily equal to points earned with another.

Chase Sapphire Preferred redemption options:

• Chase Travel Portal: 1.25 cents per point
• Transfer to partners: Often 1.5-2+ cents per point
• Cash back: 1 cent per point
• Gift cards: Varies

Capital One Venture redemption options:

• Purchase Eraser: 1 cent per mile
• Transfer to partners: Varies by partner (0.8-2+ cents per mile)
• Cash back: 1 cent per mile

Here's a real example from my recent booking. I needed a flight from New York to London. Direct booking cost $650. With the Chase Sapphire Preferred, I transferred 30,000 points to British Airways and booked the same flight—that's 2.17 cents per point in value. With Capital One Venture, I'd need 65,000 miles using the Purchase Eraser at 1 cent per mile.

However, Capital One's flexibility shines when award availability is limited. During peak summer travel to Europe, I found better cash prices than award availability on several routes. The Venture let me book exactly the flight I wanted and erase the cost, while transfer partners had no availability.

Welcome Bonuses: The Quick Win

Both cards currently offer strong welcome bonuses that essentially pay for multiple years of annual fees:

Chase Sapphire Preferred:

• 60,000 points after $4,000 spend in 3 months
• Worth $750 when used through the Chase portal
• Potentially $900-1,200+ when transferred to partners

Capital One Venture:

• 75,000 miles after $4,000 spend in 3 months
• Worth $750 when redeemed for travel
• Same value through Purchase Eraser or transfers (depending on partner)

The Capital One bonus is technically larger in raw numbers, but the Chase bonus often delivers more value through strategic transfers. That said, guaranteed $750 versus potential higher value is a legitimate trade-off to consider.

Travel Benefits and Protections

Where Chase Sapphire Preferred wins:

• Primary rental car coverage (big deal—saves money and hassle)
• $50 annual hotel credit
• Trip cancellation/interruption up to $10,000 per trip
• Trip delay reimbursement (up to $500 per ticket)
• Baggage delay insurance

Where Capital One Venture provides:

• Secondary rental car coverage (still useful, just not as comprehensive)
• Travel accident insurance
• 24/7 travel assistance
• Auto rental collision damage waiver

The Chase Sapphire Preferred's primary rental car coverage alone can save you $15-30 every time you rent a car by letting you confidently decline the rental counter's insurance. Over a year of travel, that adds up.

Foreign Transaction Fees: A Tie

Both cards charge zero foreign transaction fees, making them excellent companions for international travel. No surprises, no 3% surcharges eating into your vacation budget.

Transfer Partners: Flexibility vs. Value

Chase Ultimate Rewards partners include some of the most valuable programs:

• World of Hyatt (my personal favorite for outsized value)
• United MileagePlus (extensive domestic and international network)
• Southwest Rapid Rewards (companion pass potential when combined with other Chase cards)
• British Airways Executive Club (sweet spots on short flights)
• Air France-KLM Flying Blue (good for transatlantic travel)

Capital One transfer partners have expanded significantly:

• Air Canada Aeroplan (excellent for Star Alliance redemptions)
• British Airways Executive Club (same sweet spots as Chase)
• Turkish Airlines Miles&Smiles (great value to Europe and Asia)
• Air France-KLM Flying Blue (competitive rates to Europe)
• Wyndham Rewards (transfer at 1:1, though hotel points are generally less valuable)

Chase has the edge with Hyatt and Southwest, while Capital One offers unique access to Turkish Airlines and Wyndham. But Capital One's real advantage is the Purchase Eraser—you're never stuck if partner availability disappoints.

Real-World Usage Scenarios

Scenario 1: The Food-Loving City Traveler

Profile: You live in a major city, dine out 3-4 times weekly, and take 3-4 domestic trips annually plus one international vacation.

Spending pattern:

• $800/month dining
• $200/month groceries online
• $500/month other

Chase Sapphire Preferred:

• Dining/groceries: ($1,000 × 3) × 12 = 36,000 points
• Other: ($500 × 1) × 12 = 6,000 points
• Total: 42,000 points annually
• Value at 1.5 cents per point: $630

Capital One Venture:

• All spending: ($1,500 × 2) × 12 = 36,000 miles
• Value at 1 cent per mile: $360

Winner: Chase Sapphire Preferred by $270 annually, plus the $50 hotel credit makes it even better. The 3x dining multiplier pays off big here.

Scenario 2: The Road Warrior Business Traveler

Profile: Frequent travel for work, lots of gas and varied spending, prefer flexibility over optimization.

Spending pattern:

• $400/month gas
• $600/month business expenses (various)
• $500/month personal

Chase Sapphire Preferred:

• Mixed spending at mostly 1x: $1,500 × 12 = 18,000 points
• Value at 1.25 cents: $225

Capital One Venture:

• All spending: ($1,500 × 2) × 12 = 36,000 miles
• Value at 1 cent: $360

Winner: Capital One Venture by $135 annually. The consistent 2x earning wins when spending doesn't hit bonus categories, and the Purchase Eraser lets you book travel your company's way.

Scenario 3: The Strategic Optimizer

Profile: You're willing to learn transfer partners, track bonus categories, and maximize every point.

Spending pattern:

• Strategic use of bonus categories
• Willingness to transfer to partners
• Plans 6-12 months ahead

Winner: Chase Sapphire Preferred, hands down. Transfer partners like Hyatt regularly deliver 2+ cents per point value, and you can combine points from other Chase cards to maximize value. The Chase ecosystem becomes incredibly powerful for those willing to learn it.

Who Should Get Each Card

Get the Chase Sapphire Preferred If You:

1. Dine out frequently - That 3x on dining is money in the bank
2. Want access to Hyatt - This alone makes the card worth it for hotel enthusiasts
3. Enjoy optimizing redemptions - Transfer partners offer the highest value potential
4. Want primary rental car coverage - Saves money and provides better protection
5. Are under 5/24 - You can actually get approved (Capital One doesn't have this restriction)
6. Value the $50 hotel credit - Effectively reduces your annual fee to $45

The Chase Sapphire Preferred rewards those who engage with the ecosystem. If you're willing to learn which partners offer the best value and plan your transfers strategically, this card delivers exceptional returns.

Apply for the Chase Sapphire Preferred if you want maximum value through strategic transfers.

Get the Capital One Venture If You:

1. Want earning simplicity - 2x on everything means no category tracking
2. Value redemption flexibility - Book anywhere, erase with miles
3. Don't want to learn transfer partners - Purchase Eraser is straightforward
4. Are past 5/24 - Capital One doesn't have this restriction
5. Book last-minute travel - Award availability doesn't matter with Purchase Eraser
6. Prefer all-in-one simplicity - Fewer moving parts to manage

The Capital One Venture is for travelers who want excellent rewards without the homework. You'll earn solid value without optimizing, and you'll never face blackout dates or capacity controls.

Get the Capital One Venture for straightforward 2x earning and flexible redemptions.

The Chase 5/24 Rule Impact

Here's something many travelers don't consider: Chase has a rule that automatically declines most applicants who've opened 5 or more credit cards (from any bank) in the past 24 months. Capital One doesn't have this restriction.

If you're at 4/24 right now, getting the Chase Sapphire Preferred locks you out of other Chase cards for at least a few months. But if you're already past 5/24, the decision is made for you—Capital One Venture is your only option between these two.

Our complete guide to Chase's 5/24 rule explains how to check your status and strategically plan your applications.

Can You Get Both?

Absolutely, and many experienced travelers do exactly that. Here's the strategy:

1. Start with Chase Sapphire Preferred (if you're under 5/24)
2. Use it as your primary card for dining and Chase portal bookings
3. Add Capital One Venture after 3-6 months
4. Use Venture for non-bonus category spending

This combination gives you the best of both worlds: maximum earning on dining and travel with Chase, plus consistent 2x on everything else with Capital One. Combined with the flexibility of both transfer networks and Capital One's Purchase Eraser, you're covered for virtually any redemption scenario.

The annual fees total $190, but the welcome bonuses alone ($1,500+ combined value) more than justify the cost in year one. After that, strategic use of both cards can easily generate $800-1,000+ in travel value annually.

Want to dive deeper into building a complete travel card setup? Check out our guide to the best travel credit cards for 2025.

Alternative Cards to Consider

Before you commit, consider these alternatives that might better fit your situation:

Chase Sapphire Reserve

If you can justify the $550 annual fee, the Chase Sapphire Reserve offers 3x on all travel and dining (not just Chase portal travel), Priority Pass lounge access, and a $300 annual travel credit that effectively reduces the fee to $250. It's the logical upgrade if you travel frequently.

Capital One Venture X

For $395 annually, the Capital One Venture X delivers 10x miles on hotels and 5x on flights booked through Capital One Travel, plus a $300 annual travel credit and Priority Pass access. If you're willing to pay more upfront, the benefits quickly add up.

American Express Gold Card

Heavy on dining and groceries? The Amex Gold earns 4x at restaurants and U.S. supermarkets (up to $25,000 annually). The $250 annual fee is offset by monthly Uber and dining credits, and Membership Rewards transfer to excellent partners.

Maximizing Your Chosen Card

If You Choose Chase Sapphire Preferred

1. Learn the transfer partners - Spend an hour understanding Hyatt, United, and Southwest sweet spots
2. Use the Chase portal strategically - Sometimes 1.25 cents per point beats partner availability
3. Combine with other Chase cards - Freedom Flex or Freedom Unlimited boost total earning
4. Don't forget the $50 hotel credit - Use it annually to reduce your effective annual fee
5. Book travel through Chase when transfer partners don't make sense

Our Chase Ultimate Rewards complete guide walks through advanced strategies for maximizing your points.

If You Choose Capital One Venture

1. Book travel anywhere - Don't limit yourself to specific booking channels
2. Consider transfer partners when they offer better value than 1 cent per mile
3. Redeem regularly - Miles don't expire, but regular redemptions ensure you're using them
4. Watch for transfer bonuses - Capital One occasionally offers bonus miles on transfers
5. Keep it simple - The card's strength is simplicity, so don't overcomplicate it

Learn how to maximize Capital One Venture points with our detailed redemption guide.

Common Questions

Can I transfer Chase points to Capital One, or vice versa?

No. Chase Ultimate Rewards and Capital One miles are separate currencies that can't be combined or transferred between programs. Each has its own transfer partners, and you'll need to choose redemptions within each ecosystem separately.

Which card is better for international travel?

Both work excellently internationally with no foreign transaction fees. Chase Sapphire Preferred edges ahead with primary rental car coverage and more comprehensive trip protections. However, Capital One's ability to book anywhere and erase with miles can be valuable when navigating foreign booking sites or local airlines not available through Chase's portal.

What if I already have Chase Freedom Unlimited or Freedom Flex?

This actually makes the Chase Sapphire Preferred even more valuable. You can combine Ultimate Rewards points from all your Chase cards into one pool, letting you use Freedom's 5x rotating categories and Freedom Unlimited's 1.5x base rate, then transfer those points to partners through your Sapphire Preferred. It's a powerful combination.

See our article on best Chase credit cards to understand how the ecosystem works together.

Does Capital One have a 5/24 rule like Chase?

No. Capital One doesn't have a 5/24 rule, though they have their own approval criteria. Generally, Capital One is more lenient with recent applications than Chase, making the Venture accessible to more people.

Can I downgrade either card to avoid the annual fee?

Yes, both issuers offer downgrade paths. Chase Sapphire Preferred can downgrade to Freedom Unlimited or Freedom Flex. Capital One Venture can downgrade to VentureOne (no annual fee, 1.25x miles everywhere) or Quicksilver (no annual fee, 1.5% cash back). Downgrading preserves your account age and credit history while eliminating the annual fee.

Which card has better customer service?

Both banks offer 24/7 customer service, but Chase tends to get higher marks for credit card support. That said, Capital One has excellent mobile app functionality that can reduce the need to call customer service in the first place. Neither has a significant advantage here.

My Personal Recommendation

After carrying both cards for years, here's my honest take: Get the Chase Sapphire Preferred if you're willing to learn the system; get the Capital One Venture if you want rewards without homework.

I use the Chase Sapphire Preferred as my primary card because I dine out frequently and I've taken the time to understand transfer partners. The ability to get 2+ cents per point through Hyatt transfers has saved me thousands on hotel stays. Combined with my Chase Freedom Flex for 5x rotating categories, I earn more Ultimate Rewards than I would with any other setup.

But I completely understand why someone would choose Capital One Venture. Not everyone wants to research transfer partners or plan redemptions months in advance. The Venture delivers solid value with minimal effort, and that simplicity has real worth. If I were starting over today and didn't want to learn the points game, I'd absolutely get the Venture and be perfectly happy.

The truth is both cards are excellent. You can't make a wrong choice here—you can only make the wrong choice for your specific situation. Think about how you actually spend money, how you prefer to redeem rewards, and how much time you want to invest in maximizing value.

Final Verdict

Choose Chase Sapphire Preferred for:

• Maximum value potential through transfer partners
• Strong earning on dining and travel
• Access to World of Hyatt (worth it alone for hotel lovers)
• Primary rental car coverage
• Building a Chase ecosystem with Freedom cards

Choose Capital One Venture for:

• Earning simplicity (2x on everything)
• Redemption flexibility (book anywhere)
• No blackout dates or capacity controls
• Accessibility if you're past 5/24
• Lower learning curve

Both cards charge $95 annually, offer excellent welcome bonuses, and carry no foreign transaction fees. The "better" card depends entirely on your travel style and willingness to optimize redemptions.

Ready to make your choice? Apply today and start earning toward your next adventure.

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