Chase Sapphire Preferred and Capital One Venture Rewards are both intended for people who travel a lot and have excellent credit. If you meet the two mentioned prerequisites, along with the other requirements, these two cards are highly recommended for you. Both have praise-worthy qualities; hence, making the ultimate choice may be a bit difficult along the way. Since you probably do not want to have two travel rewards cards in your wallet, you surely wish to know which of these two prevails. Let us find out.
Which Lets You Earn More Points?
The Capital One Venture Rewards card is many travelers’ favorite card. Thus, it comes as a bit of a surprise to learn that the Chase Sapphire Preferred has more welcome bonus points. The moment you get approved for this particular card from Chase, you are eligible to earning 40,000 points. The only catch is that you have to spend at least $1,000 for three consecutive months to get the bonus. Capital One’s offer is only 10,000 points, but you only have to spend $1,000 for the whole period of three months.
Based on the point system, however, Capital One beats Chase by offering 2 points for every dollar on every category. Chase also offers 2 points per dollar, but this is only applicable on travel and dining expenses. The other things you pay for that are outside the two categories will only be worth one point. Therefore, in this classification, Capital One Venture Rewards card lets you earn more points, particularly if you don’t plan on spending $3,000 for the first three months.
Which Lets You Redeem Rewards Easier?
Both cards are designed for those who want flexibility on their rewards. Unlike other airline or hotel-specific cards, Chase Sapphire Preferred and Capital One Venture Rewards do not limit where you want to claim your rewards. You are allowed to book with any airline or hotel using your rewards. You are also permitted to claim your points through statement credits.
Capital One lets you redeem your miles for gift cards and free merchandise. Chase also grants you the same access to rewards, but offers more options. You can double your points when redeeming through their online portal. The most attractive perk is that you can transfer your points to over 20 partner hotels and airlines with a 1:1 ratio. You can also shift your points to Amtrak, which is a great opportunity for those who frequent Hilton hotels. The conversion of Amtrak points to Hilton points is at 1:2 ratio.
Which Card is For You?
If you hate paying for your card annually, it is unfortunate to choose any of these cards since both have yearly fees. Nevertheless, Capital One has a lower fee ($59), compared to Chase that amounts to $95. Since you are a frequent traveler, you surely don’t need a card that will cost you interest whenever you pay for items overseas. Thankfully, both cards don’t have foreign transaction fees.
To sum it up, both Chase and Capital One’s offers are great. The Venture card is suitable for those who don’t spend a lot on regular purchases, but fly frequently. Meanwhile, if you want to take advantage of your frequent flyer or hotel guest programs, the Chase Sapphire Preferred has better deals.