Chase Sapphire Preferred vs. Capital One VentureOne Rewards credit cards: Which is better?
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With summer fast approaching, many Americans are making travel plans to locations near and far. If you're heading out, you may earn rewards and save money by using a travel credit card. These cards enable you to rack up points and miles on your credit card purchases and then redeem them for free or discounted travel flights, hotel stays and other perks.
Having a top-rated travel credit card in your wallet can help you save money and offer protection while you're on the go. Among the many offerings you can choose from are the Chase Sapphire Preferred® Card and the Capital One VentureOne Rewards Credit Card, both of which are highly regarded by frequent travelers.
In this article we'll review how each card performs across specific categories to determine which one comes out on top.
Chase Sapphire Preferred vs. Capital One VentureOne Rewards credit cards: Which is better?
Below, we will compare these two cards in seven categories.
Welcome bonus
The Chase Sapphire Preferred card comes with a welcome bonus of 60,000 bonus miles once you spend $4,000 within the first three months of opening your account. While the spending requirement is steeper than budget-tier cards like the Capital One VentureOne Rewards card, the hefty bounty of miles is also worth 25% more when you redeem them through Chase Travel.
By contrast, the VentureOne Rewards card offers 20,000 bonus miles if you spend $500 within three months of opening your account. The bonus miles are considerably less than the 60,000 bonus miles its competitor offers, but it's still more than many other cards that don't charge an annual fee. Also, the $500 spending requirement should be within reach of most cardholders.
Winner: Tie. The best rewards card for you will likely depend on your budget and how much you plan on spending after opening an account.
Rewards rate
The difference between these cards' rewards is stark. Chase Sapphire Preferred has a category-based rewards structure with numerous perks, while Capital One VentureOne Rewards keeps it simple with two rewards categories and a flat-rate structure. Here's how rewards compare with these credit cards:
Rewards Comparison | |
Chase Sapphire Preferred | Capital One VentureOne Rewards |
5 points for each dollar spent on travel booked via the Chase portal and Lyft transactions. | Earn 5 miles for every dollar you spend booking hotels and rental cars through Capital One Travel with no limits |
3 points per dollar for dining, selected streaming services, and online grocery shopping (except at Target, Walmart and wholesale clubs) | Earn 1.25 miles per dollar on every purchase you make with no limits |
2 points per dollar on all other travel-related expenses | |
1 point per dollar on all other purchases | |
Annual $50 account anniversary hotel credit for stays you book through Chase Travel | |
10% anniversary credit based on the previous year's spending |
Winner: Chase Sapphire Preferred. While both cards offer five points or miles per dollar when booking through their respective portals, and VentureOne has a higher per-dollar value on non-travel transactions, Chase offers more opportunities to earn higher values.
APR
Chase Sapphire Preferred comes with a variable annual percentage rate (APR) ranging from 21.49% to 28.49%. Unfortunately, the card issuer doesn't offer a promotional APR for purchases or balance transfers.
By contrast, VentureOne Rewards offers a 0% intro APR for 15 months on purchases and balance transfers. That gives you ample time to pay off purchases before the standard variable rate kicks in—between 19.99% and 29.99%. Keep in mind, balance transfers come with a transfer fee of 3% of the amounts you transfer in the first 15 months.
Winner: Capital One VentureOne Rewards. If you charge air travel, hotel stays or other large purchases, VentureOne Rewards' 0% intro APR period gives you plenty of time to pay off the balance interest-free.
Annual fee
Chase Sapphire Preferred comes with a $95 annual fee, which the card more than makes up for with robust bonuses and perks. For its part, VentureOne Rewards doesn't charge an annual fee and still provides attractive travel benefits and redemption options.
Winner: You can't beat $0 fees, so Capital One VentureOne Rewards wins here.
Perks
On top of the generous welcome bonus, Chase Sapphire Preferred offers numerous benefits, including a $50 annual hotel credit, a 10% anniversary points bonus and at least one year of complimentary membership of DashPass from Doordash for free deliveries and discounted service fees. You can also enjoy comprehensive travel and purchase protections, including primary rental car coverage, trip delay and trip cancellation insurance, and baggage delay insurance.
Like Chase Sapphire Preferred, you won't have to pay foreign transaction fees if you use the Capital One VentureOne Rewards card abroad. VentureOne also includes the usual lineup of World Elite Mastercard travel and shopping benefits, such as trip interruption and trip cancellation insurance, car rental insurance and extended warranties on items you purchase.
Winner: Chase Sapphire Preferred matches many of the same benefits as VentureOne, and provides additional valuable perks.
Redemption options
If you want to redeem rewards you earn with the Chase Sapphire Preferred rewards, you can use your points to book travel accommodations through the Chase Ultimate Rewards portal at a fixed rate of 1.25 cents per point. You can also transfer rewards to Chase travel partners, including Hyatt and United Airlines. Keep in mind that the redemption rates among travel partners vary, so you may receive more or less value for your rewards.
If you'd rather not deal with spending categories and tracking your rewards, you may prefer the simplified redemption program of VentureOne. Perhaps the easiest way to redeem rewards is to book travel arrangements through Capital One Travel using your miles. Alternatively, you can transfer your miles to one of Capital One's 15 airline partners. Redemption values may vary by travel partner, but most have a value ratio of 1:1. If you're not planning on booking travel anytime soon, you could opt to turn your rewards into cash, either as a check or a credit on your statement.
Winner: Chase Sapphire gets the slight edge here with a more expansive travel partner list that includes United, Southwest and Virgin Atlantic. While Capital One's partner list is solid, it doesn't feature any domestic air carriers.
Credit score
Generally, you'll need a credit score of 700 or more to qualify for the Chase Sapphire Preferred credit card.
Capital One states that you must have excellent credit to qualify for the VentureOne Rewards credit card. According to the card issuer's guidelines, you may not be eligible if you've ever declared bankruptcy, defaulted on a loan or have been more than 60 days late on a credit or medical payment within the last year.
Winner: Tie. Although some applicants with weaker credit profiles have been approved for the Sapphire Preferred, you'll likely need a credit score of at least 700 or higher to qualify for either card.
The bottom line
The Chase Sapphire Preferred and Capital One VentureOne Rewards credit cards are neck-and-neck in terms of the benefits and value they deliver to their cardholders. Overall, Sapphire Preferred edges out VentureOne in this head-to-head, but in reality, which credit card is best for you will depend on your personal wants and needs.
If you prefer a no-fuss card with a flat-rewards structure and no annual fee, the VentureOne Rewards credit card is likely your best option. But if you don't mind shelling out the $95 annual fee, you may get more rewards opportunities that more than offset the fee and accessibility to popular airline carriers with the Chase Sapphire Preferred.
