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Paying hundreds of dollars in annual fees for premium credit cards is not for everyone, especially if you're just starting off with earning travel rewards. Fortunately, there are several travel credit cards that will cost you less than $100 per year, while still earning you valuable points to help you plan a memorable vacation.

The Chase Sapphire Preferred® and the Capital One Venture Rewards Credit Card are two of the best cards in this category. Both have the same annual fees and earn valuable travel rewards, ideal for newcomers and those seeking to transfer points and miles to airline and hotel partners for significant value.

Both rewards cards are popular options from big banks, Chase and Capital One. On the surface, both cards yield some of the most valuable travel rewards currencies, but there's a lot more to this comparison than just rewards.

Chase Sapphire Preferred®

  • $95 Annual Fee
  • $1,380 Editor's
    Bonus Estimate
    More Info

    Learn more about how we evaluate points and miles in our monthly evaluation guide.

  • Sign Up Bonus 60,000Chase Ultimate Rewards Points More Info

    Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. Dollar Equivalent: $1,380 (60,000 Chase Ultimate Rewards Points * 0.023 base)

  • 21.49% - 28.49% (Variable) APR
Apply Now

Secure application on issuer’s website

Product Image for Capital One Venture Rewards Credit Card

Capital One Venture Rewards Credit Card

  • $95 Annual Fee
  • $1,350 Editor's
    Bonus Estimate
    More Info

    Learn more about how we evaluate points and miles in our monthly evaluation guide.

  • Sign Up Bonus 75,000Capital One Rewards Miles More Info

    You can earn 75,000 bonus miles after spending $4,000 on purchases within three months of account opening. Dollar Equivalent: $1,350 (75,000 Capital One Rewards Miles * 0.018 base)

  • 19.99% - 29.99% (Variable) APR
Apply Now

Secure application on issuer’s website

Rates & Fees

We'll go over additional features of each card, how to redeem your rewards and more in our card comparison.

Compare Welcome Bonuses

Winner: Capital One Venture Rewards Credit Card

These cards come with a generous welcome bonus to boost your points and miles. With the Capital One Venture Rewards Credit Card, new cardholders can earn 75,000 bonus miles after spending $4,000 on purchases in the first three months of account. According to our points and miles valuation, each Capital One mile can be worth around 1.8 cents when redeemed for travel.

On the other hand, the Chase Sapphire Preferred has a welcome bonus of 60,000 points if you spend $4,000 in the first three months after account opening. The value of this welcome offer is $750 when redeemed for Chase Travel℠, though we currently value Chase points at up to 2.2 cents per point when transferred to some travel partners, which could nab you a few hundred dollars worth of extra value. Either way, this is a bit below the Capital One Venture Rewards Credit Card welcome offer.

Given how similar the welcome bonus offers and minimum spend requirements are, potential applicants must look at each card's benefits to determine which suits them best. However, you'll want to ensure you meet the minimum spending requirements to avoid losing out on the excellent welcome bonus with either card. 

Compare Rewards Rates

Winner: Chase Sapphire Preferred

Both cards are great earners when it comes to rewards. The Chase Sapphire Preferred offers cardholders 5x points on travel purchased through Chase Travel℠, 5x points on Lyft purchases (through March 2025), 3x points on dining, select streaming services and eligible online grocery purchases (excluding Target, Walmart and wholesale clubs), 2x points on all other travel purchases, and 1x point per $1 on all other eligible purchases.

While the Capital One Venture Rewards Credit Card has fewer overall bonus categories, it offers a better rate of 2x miles on every card purchase and 5x miles on hotels and rental cars through Capital One Travel.

We appreciate that Chase defines the "travel" category quite broadly, so Chase Sapphire Preferred cardholders can get 2 points per dollar spent on everyday things like parking, tolls and even ferry rides. Additionally, dine-in and takeout restaurants, pubs, coffee shops, food delivery services and even most vending machines fall within the broadly-defined dining category.

If you prefer simplicity and want to earn a fixed earning rate on all everyday purchases, the Capital One Venture Rewards Credit Card may be for you. However, the Chase Sapphire Preferred is an excellent choice if you spend money on numerous common categories, such as dining and travel.

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Compare Rewards Redemption Options

Winner: Chase Sapphire Preferred

Customers seeking to extract value from their hard-earned rewards have many flexible redemption options with both cards. Capital One allows cardholders to redeem their miles at a fixed value of 1 cent per mile towards travel purchases made through Capital One Travel, or for statement credits to offset any travel purchase made within the last 90 days.

Additionally, you can maximize the value of your Capital One miles by transferring them to airline and hotel transfer partners. The majority of transfers are currently 1:1. Given that the card earns 2x miles per dollar on everyday purchases, that’s the equivalent of earning 2 airline miles or 2 hotel points per dollar spent on every purchase.

If you are not interested in earning travel rewards, you can use your miles for gift cards, cash back, or purchases on Amazon and PayPal. However, it is essential to note that the rate you can redeem your miles for these options may not be as favorable as redeeming them for travel rewards.

The Chase Sapphire Preferred allows cardholders to earn Ultimate Rewards points, which can be redeemed for travel through the portal or transferred to other programs. Cardholders can make travel purchases through the Chase Travel℠ portal, and extract 1.25 cents per point value on these redemptions. 

However, by transferring the points to one of Chase's airline and hotel partners at a 1:1 ratio, you could significantly boost the value of the points. Cardholders can also redeem points for gift cards and cash back. However, the value of each point is only worth 1 cent apiece.

While the flexibility to redeem Capital One miles for any travel purchase is convenient, the Chase Sapphire Preferred still provides the most long-term value in terms of redemption options.

Compare Intro APR Offers

Winner: Tie

Both cards are considered mid-tier travel rewards cards and offer valuable rewards. However, it's important to note that neither includes any introductory APR offers as part of their benefits.

Compare Benefits

Winner: Chase Sapphire Preferred

Both the Capital One Venture Rewards Credit Card and Chase Sapphire Preferred card offer a range of valuable travel benefits and protections.

For starters, the Capital One Venture Rewards Credit Card has no foreign transaction fees (Rates & Fees). It also offers additional benefits, including extended warranty protection for eligible purchases, purchase protection for covered losses within the first 90 days of purchase, and travel benefits (such as lost luggage reimbursement and secondary auto rental coverage).* 

Cardholders also receive up to $100 credit towards their Global Entry/TSA PreCheck® application fee. The Global Entry/TSA PreCheck credit is a valuable perk typically offered by premium cards with higher annual fees.

The Capital One Venture Rewards Credit Card and the Chase Sapphire Preferred both provide similar benefits, but they also differ in a few key ways, and it is here that the Chase Sapphire Preferred shines out even more.

For example, the Chase Sapphire Preferred has primary rental coverage, while the Capital One Venture Rewards Credit Card has secondary car rental coverage. So, if a minor collision occurs while renting a car, Chase Sapphire Preferred cardholders could file a claim directly with the card's benefits provider, and avoid a headache with their car insurance provider down the line.

Furthermore, the Chase Sapphire Preferred includes superior travel benefits such as up to $500 in trip delay reimbursement for delays of more than 12 hours or overnight, up to $10,000 in trip cancellation and interruption insurance per person ($20,000 per trip), and up to $100 per day for up to five days in baggage delay reimbursement for delays of more than 6 hours.

The card also has a 10% anniversary point bonus and an annual $50 credit for hotel stays booked via the Chase Travel℠ portal.

Which Card is Right for You?

Even though both cards are premier mid-tier travel rewards credit cards with the same annual fee, the Chase Sapphire Preferred outperforms the Capital One Venture Rewards Credit Card in our research.

Chase Sapphire Preferred provides a far higher ceiling for customers who spend a lot on travel and dining. It also offers superior travel and purchase protections compared to the Capital One Venture Rewards Credit Card.

When redeeming rewards, Chase Sapphire Preferred cardholders' points are worth 25% more when booking travel through the Chase Travel℠ portal. You can also transfer your points to popular travel loyalty programs like World of Hyatt®, United MileagePlus®, Southwest Airlines Rapid Rewards® and Air Canada Aeroplan.

On the other hand, the Capital One Venture Rewards Credit Card is ideal for customers who want simplicity from their credit card and do not want to keep track of spending categories since they earn 2x miles per dollar spent on all purchases. 

Chase Sapphire Preferred®

  • $95 Annual Fee
  • $1,380 Editor's
    Bonus Estimate
    More Info

    Learn more about how we evaluate points and miles in our monthly evaluation guide.

  • Sign Up Bonus 60,000Chase Ultimate Rewards Points More Info

    Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. Dollar Equivalent: $1,380 (60,000 Chase Ultimate Rewards Points * 0.023 base)

  • 21.49% - 28.49% (Variable) APR
Apply Now

Secure application on issuer’s website

Product Image for Capital One Venture Rewards Credit Card

Capital One Venture Rewards Credit Card

  • $95 Annual Fee
  • $1,350 Editor's
    Bonus Estimate
    More Info

    Learn more about how we evaluate points and miles in our monthly evaluation guide.

  • Sign Up Bonus 75,000Capital One Rewards Miles More Info

    You can earn 75,000 bonus miles after spending $4,000 on purchases within three months of account opening. Dollar Equivalent: $1,350 (75,000 Capital One Rewards Miles * 0.018 base)

  • 19.99% - 29.99% (Variable) APR
Apply Now

Secure application on issuer’s website

Rates & Fees

While the set rewards rate on Capital One Venture Rewards Credit Card purchases may be preferable for those who like straightforwardness, most customers will get more overall value from the Chase Sapphire Preferred due to its outsized reward rates and high-value redemption options.

Bottom Line

When comparing these two cards, it is evident that they share many similarities. However, several distinct differences set them apart from each other.

Regarding everyday spending, the Capital One Venture Rewards Credit Card beats out the Chase Sapphire Preferred because it earns 2x miles per dollar (compared to 1x points with the Chase Sapphire Preferred). However, suppose you often make purchases in specific categories, such as restaurants, streaming services and online groceries. In that case, the Chase Sapphire Preferred delivers 3x points per dollar on these transactions and 2x points per dollar on travel purchases.

In the end, the best card for you will be the one that fits with your spending habits, lets you use points for travel goals that are important to you, and includes perks you can use.

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*For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

JR

Juan Ruiz

Juan has been writing and editing stories involving credit cards, loyalty programs, travel, and personal finance topics for more than 10 years. In addition to working and contributing to a number of outlets including The Points Guy, Forbes, and Business Insider, Juan was recently the editor-in-chief at Money Under 30, where he led a team of personal finance journalists. He is also an adjunct professor at Florida International University and a licensed real estate professional.