If this is your first travel card, pick the Chase Sapphire Preferred if you spend a lot on dining, gas and travel and want Hyatt, United or Southwest as transfer partners, and pick the Capital One Venture if you'd rather earn 2X on nearly everything without tracking categories. Both charge a $95 annual fee, both skip foreign transaction fees, and as of September 30, 2026, both are running 75,000-point or 75,000-mile welcome offers.
Chase's June 2026 refresh changed this matchup: the Sapphire Preferred picked up 3x on gas, a Global Entry credit and a bigger hotel credit. Here's how the two compare today, from both issuers' own pages, and which one fits the way you travel.
Quick Summary
Chase Sapphire Preferred. Best for: people who spend a lot on dining, gas and travel and want to learn transfer partners, especially Hyatt. Standout benefit: 3x on dining, gas and EV charging, plus 5x on Chase Travel. Biggest drawback: everything outside the bonus categories earns 1x. Current offer: 75,000 points after you spend $5,000 in purchases in the first 3 months from account opening.
Capital One Venture. Best for: people who want one rate on every purchase and simple travel redemptions. Standout benefit: unlimited 2X miles on every purchase. Biggest drawback: dining, gas and groceries earn the same 2X as everything else, and the hotel transfer partners are Choice, Wyndham, I Prefer and Accor. Current offer: 75,000 bonus miles after you spend $4,000 on purchases in the first 3 months, plus a one-time $300 Capital One Travel Stays credit (Capital One labels it a limited-time offer).
What Each Card Earns
This is where the two cards split. Here are the rates from each issuer's card page and rewards terms.
Chase Sapphire Preferred (Chase's card page):
- 5x points on purchases through Chase Travel (bookings through FROSCH or Valerie Wilson Travel by Chase Travel earn 2x instead)
- 3x on dining, including takeout and eligible delivery
- 3x on gas stations and EV charging
- 3x on vacation homes at top brands, which Chase says includes Airbnb and Vrbo
- 3x on top streaming services and online grocery (excluding Target, Walmart and wholesale clubs)
- 2x on all other travel
- 1x on everything else
Capital One Venture (Capital One's card page):
- 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
- 5X miles on Capital One Entertainment ticket purchases
- 2X miles on every other purchase, with no cap
Read the fine print on the Venture's 5X. Capital One's rewards terms limit it to "hotel, car rental, and vacation rental only" booked through Capital One Travel, and hotel incidentals or upgrades paid outside the portal earn the standard 2X. Chase's 5x covers flights, hotels, rental cars, cruises, activities and tours booked through Chase Travel.
The gas change matters more than it looks. Chase added 3x on gas and EV charging on June 15, 2026, which takes away one of the Venture's old selling points for drivers. What's left for the Venture is the catch-all spending that doesn't fit a Chase category: utilities, medical bills, home repairs, most retail shopping. On that spending, the Venture earns 2X and the Sapphire Preferred earns 1x.
The Welcome Offers
Both offers are 75,000, but the details differ.
Chase's Offer Details say you earn 75,000 points after $5,000 in purchases in the first 3 months, and the bonus posts 6 to 8 weeks after you qualify. The card itself is unavailable to you if you currently have one open, and the bonus "may not be available to you if you previously held this card or received a new cardmember bonus for this card." Chase adds that it may "consider the number of cards you have opened and closed" when deciding bonus eligibility. Our Sapphire Preferred review has more on the card itself.
The Venture's bar is lower: 75,000 miles after $4,000 in purchases in the first 3 months, applied within two billing cycles of qualifying. The $300 Capital One Travel Stays credit is one-time, works only on hotel and vacation rental bookings through Capital One Travel, and expires one year after account opening. You're not eligible for the bonus if you've received a new cardmember bonus on the Venture or Venture X in the past 48 months. Capital One's application terms also say you're not eligible if you've applied for a Capital One credit card two or more times in the last 30 days.
Where the Points Go
Both cards give you two paths: redeem through the issuer, or transfer to an airline or hotel program.
Redeeming Through the Issuer
Chase's rewards agreement says that when you redeem for cash, gift cards or travel, "each point is worth $.01 (one cent), which means that 100 points equals $1 in redemption value." On top of that, Chase's benefits page describes Points Boost offers, where "your points are worth up to 1.5x on top-booked hotels and flights with select airlines through Chase Travel." Those offers rotate, so what's boosted depends on your dates and route.
Capital One's rewards terms give two travel options. You can book anywhere with the card and then redeem miles to cover the purchase within 90 days of it posting. Or you can book through Capital One Travel and pay with miles. For portal bookings, Capital One says to multiply the cost by 100: its own example is a $200 purchase needing 20,000 miles. Venture miles don't expire for the life of the account.
Transfer Partners
Chase lists these partners for the Sapphire Preferred on its benefits page:
Airlines: Aer Lingus AerClub, Air Canada Aeroplan, Air France KLM Flying Blue, British Airways Executive Club, Iberia Plus, JetBlue TrueBlue, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards, United MileagePlus and Virgin Atlantic Flying Club. Hotels: IHG One Rewards, Marriott Bonvoy, World of Hyatt and Wyndham Rewards.
Chase says points transfer to most partners at 1:1. World of Hyatt is the one Chase prices separately: 4:3, so 1,000 Ultimate Rewards points become 750 Hyatt points. Cardmembers who applied on or after June 15, 2026 got that rate right away. For accounts opened before June 15, Chase's page gives 1:1 through September 30, 2026, and its announcement makes 4:3 effective October 1, 2026. Our breakdown of the Hyatt change covers which other Chase cards it hits.
Capital One says the Venture transfers to "15+ travel loyalty programs." Its transfer partner page lists most airline partners at 1:1: Aeromexico Rewards, Air Canada Aeroplan, Avianca LifeMiles, British Airways Club, Cathay Pacific Asia Miles, Etihad Guest, Finnair Plus, Flying Blue, Qantas Frequent Flyer, Qatar Airways Privilege Club, Singapore Airlines KrisFlyer, TAP Miles&Go, Turkish Airlines Miles&Smiles and Virgin Red. Emirates Skywards, EVA Air and Japan Airlines Mileage Bank are 2:1.5, and JetBlue is 5:3. On the hotel side, Choice Privileges and Wyndham Rewards are 1:1, I Prefer Hotel Rewards is 1:2 and Accor Live Limitless is 2:1.
So which list suits you? Both reach Air Canada Aeroplan, British Airways, Flying Blue, Singapore KrisFlyer, JetBlue and Wyndham Rewards, though Capital One's JetBlue ratio is 5:3. The difference is at the edges. Chase has United, Southwest, Hyatt, Marriott and IHG, programs a lot of U.S. travelers already use. Capital One has Qatar, Turkish, Emirates, Cathay Pacific and Japan Airlines, which tend to matter more if you fly internationally on those carriers or their partners.
Travel Protections and Credits
Chase publishes specific limits for the Sapphire Preferred's main protections. From its benefits page:
Trip cancellation and interruption covers up to $10,000 per covered traveler and $20,000 per trip for prepaid, nonrefundable travel. Trip delay reimbursement covers up to $500 per covered traveler for meals and lodging when a delay runs more than 12 hours or requires an overnight stay. Baggage delay pays up to $100 a day for up to 5 days when bags are delayed over 6 hours. Auto rental coverage is primary, up to $60,000 for theft and collision on most vehicles with an MSRP of $125,000 or less. Added on June 15, 2026, emergency evacuation and transportation covers up to $100,000 when you're injured or sick on a trip 100 miles or more from home. Travel accident insurance pays up to $500,000 in accidental death or dismemberment coverage when you pay for air, bus, train or cruise fare with the card.
The Venture's page lists an auto rental collision damage waiver, travel accident insurance, extended warranty and 24-hour travel assistance (an emergency replacement card and cash advance if your card is lost or stolen). Capital One notes that some of these come from the card network and "may vary by product," so check your Guide to Benefits for limits.
On credits, the old gap has closed. Both cards now give up to $120 toward Global Entry or TSA PreCheck every four years, and Chase's version also covers NEXUS. Our PreCheck vs. Global Entry guide helps you pick which to apply for. The Sapphire Preferred adds up to $100 in statement credits each account anniversary year for hotels booked through Chase Travel (the first $100 of those hotel purchases each year doesn't earn points). The Venture adds a $50 experience credit on Lifestyle Collection stays booked through Capital One Travel, complimentary Hertz Five Star status and a price match on eligible Capital One Travel bookings if you find a lower price within 24 hours.
Pros and Cons
Chase Sapphire Preferred
- Pro: 3x on dining, gas, EV charging, streaming and online grocery covers a lot of everyday spending.
- Pro: World of Hyatt, United and Southwest are all on the transfer list.
- Pro: trip cancellation, trip delay, baggage delay, emergency evacuation and primary rental car coverage, each with a published limit.
- Con: 1x on everything outside the bonus categories.
- Con: Hyatt transfers are now 4:3.
Capital One Venture
- Pro: 2X on every purchase with no categories to track.
- Pro: lower spend requirement for the welcome bonus, plus a first-year $300 stays credit.
- Pro: easy redemptions against eligible travel purchases within 90 days.
- Con: the travel 5X only applies to hotels, rental cars and vacation rentals through Capital One Travel.
- Con: dining and gas earn the same 2X as everything else.
- Con: several transfer partners sit below 1:1, including JetBlue at 5:3.
Which Should Be Your First Travel Card?
Pick the Sapphire Preferred if your spending leans toward dining, gas and travel or you want Hyatt, United or Southwest, and the Venture if it's mostly catch-all spending or you want the simplest redemptions. Here's how to tell which reader you are.
You Eat Out, Drive and Book Trips Yourself
Get the Sapphire Preferred. If a big share of your spending goes to restaurants and gas, you're earning 3x on it where the Venture pays 2X. Travel you book directly earns 2x on both cards (5x on the Sapphire Preferred through Chase Travel), but the trip protections are tied to trips and rentals you pay for with the card, so they're worth the most to someone who books travel often.
You Want to Stay at Hyatt or Fly United or Southwest
Get the Sapphire Preferred. All three are on Chase's transfer list; compare that with Capital One's airline and hotel lists above. Hyatt costs more now at 4:3, but of these two cards, the Sapphire Preferred is the one with Hyatt on its list.
Your Spending Is Mostly Bills and Shopping
Get the Venture. If most of what you put on a card is utilities, medical bills, home goods and general retail, the Sapphire Preferred earns 1x on all of it. The Venture earns 2X.
You Don't Want to Learn Transfer Partners
Get the Venture. Book a flight or hotel anywhere, then cover the eligible travel purchase with miles within 90 days. That's the whole system. The Sapphire Preferred's biggest wins come from transfers and Points Boost, and if you'll never use either, you're giving up the extra categories for little in return.
You Can Only Just Clear a Welcome Bonus
Get the Venture. $4,000 in 3 months is an easier target than $5,000, and the $300 stays credit is extra travel money in year one if you'd book a hotel through Capital One Travel anyway. Capital One's page lists the Venture for excellent credit, so check your score before applying for either card.
Final Verdict
For most first-time travel cardholders who spend real money on dining and gas and want to book hotels or flights with points, the Chase Sapphire Preferred is the stronger first card after its June 2026 refresh. It matches the Venture on the Global Entry credit, comes with trip cancellation, trip delay and primary rental car coverage, and puts Hyatt, United and Southwest on your transfer list. Pick the Capital One Venture instead if your spending is mostly catch-all, you'd rather redeem against travel purchases than learn partners, or the lower $4,000 bonus target fits your budget better. Whichever you choose, check the offer on the issuer's page right before you apply: Chase says its offers can change over time, and Capital One ties the Venture bonus to the page you apply through.
Updated October 3, 2026: credits.
