Chase Sapphire Preferred vs Capital One Venture: Which Should You Get?

chase-sapphire-or-capitol-one-venture

When people talk about travel credit cards, the Chase Sapphire Preferred and the Capital One Venture, are almost always in the conversation. Both cards offer some of the biggest and most popular reward cards currently available and can be great options if you have excellent credit. They are also quite similar to each other. Because of that, it can be difficult to decide between the two, when looking to add a new card to your wallet.

Within this article we are going to walk you through the different parts of each card. This will help you decide which card might be the best fit for you.

Comparing the Rewards

When you sign up online for the Chase Sapphire Preferred card you will receive 50,000 Chase Ultimate Reward points after spending $4,000 in the first three months. Plus, you will receive an additional 5,000 points when you add an authorized user and they make a purchase during the same three-month period. (Note: There is a differential if you account for the Chase Sapphire card’s original 100,000 bonus points, which are still available, but only if you apply at a branch by March 12.)

When you use your card at restaurants and on travel, you will receive two times the points. Every other purchase made with this card will earn one point.

The Capital One Venture card comes with a signup bonus of 40,000 miles after spending $3,000 in the first three months. You will then earn two times the miles on every purchase you make.

Redeeming the Rewards

Chase Ultimate Reward points are a favorite for many because of how they can be redeemed. If you book travel through Chase Ultimate Rewards, your points will be worth 1.25 cents each. By going this route, you will be able to pay for portions of a trip, even if you don’t have the points to book the entire thing.

Where you will find the most value from your points, is by transferring them 1:1 to the following loyalty programs:

  • Air France/KLM Flying Blue
  • British Airways Executive Club
  • Korean Air SKYPASS
  • Singapore Airlines KrisFlyer
  • Southwest Rapid Rewards
  • United MileagePlus
  • Virgin Atlantic Flying Club
  • Hyatt Gold Passport
  • IHG Rewards Club
  • Marriott Rewards
  • Ritz-Carlton Rewards

By transferring your points to loyalty programs, many people are able to get a much higher value than 1.25 cents.

Capital One Venture miles are extremely popular with cardholders because of the flexibility they have. Each miles is worth one cent each and you can use them in a couple of different ways. You can book travel directly through Capital One, or you can book travel on your own, and then redeem your miles for a statement credit.

Both of these cards also give you option to redeem rewards for things like gift cards and merchandise, but you won’t get near the value you do when booking travel.

The Fees

Both the Chase Sapphire Reserve and the Capital One Venture card waive the annual fee the first year. Then for each subsequent year, the Chase Sapphire Preferred charges $95 and the Capital One Venture card is $59.

Both the Chase Sapphire Preferred and Capital One Venture cards do not have foreign transaction fees. That makes both of these cards perfect for travel outside the United States.

Which One Is Right for Me?

As you can see, both of these are excellent options for anyone looking to pick up a new travel credit card. Both cards offer a generous signup bonus and the ability to earn double points on purchases. When deciding which card would be the best fit for you, it will come down to redemption. If you are looking for something that is a little more flexible, then the Capital One Venture card might be best.

However if you don’t have a problem booking your travel through individual loyalty programs, and know how to search for optimal value, then the Chase Sapphire Preferred card would be a great fit.

No matter which card you decide to go with, you’re likely going to be very satisfied with your choice. Before applying, it’s a good idea to check your credit scores to make sure there aren’t any errors or surprises on your credit reports that will keep you from being approved. It’s easy to get your two free credit scores, updated every 14 days, on Credit.com.

Note: It’s important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.

At publishing time, the Capital One Venture credit card is offered through Credit.com product pages, and Credit.com is compensated if our users apply and ultimately sign up for this card. However, this relationship does not result in any preferential editorial treatment. This content is not provided by the card issuer(s). Any opinions expressed are those of Credit.com alone, and have not been reviewed, approved or otherwise endorsed by the issuer(s).

Image: eclipse_images

The post Chase Sapphire Preferred vs Capital One Venture: Which Should You Get? appeared first on Credit.com.