The Contenders at a Glance
Chase Sapphire Preferred (CSP) carries a $95 annual fee. Capital One Venture X charges $395. That's a $300 difference every year. But the Venture X comes with a $300 annual travel credit and 10,000 bonus miles each account anniversary—worth at least $100 toward travel. Do the math: the Venture X effectively costs $0 if you use those perks. The CSP doesn't have a travel credit, but it has a lower bar to entry and strong transfer partners. Both cards earn flexible points you can move to airlines and hotels. The question is how you travel and how much you spend.
Sign-Up Bonuses and Earning Rates
As of early 2025, the CSP offers 60,000 Ultimate Rewards points after you spend $4,000 in the first 3 months. That's worth $750 toward travel through Chase, or potentially more with transfer partners. The Venture X currently offers 75,000 Capital One miles after spending $4,000 in 3 months—worth $750 as a statement credit or more when transferred. On everyday spending, the CSP earns 5x on travel booked through Chase, 3x on dining, 3x on online groceries, 2x on all other travel, and 1x on everything else. The Venture X earns 10x on hotels and rental cars booked through Capital One Travel, 5x on flights booked through Capital One Travel, and 2x on everything else. If you book travel through the issuer's portal, Venture X pulls ahead. If you prefer booking direct and want bonus categories on dining and groceries, CSP wins.
Travel Credits and Lounge Access
The Venture X gives you a $300 annual credit for bookings through Capital One Travel. Use it on a flight or hotel, and it's like getting $300 back. You also get Priority Pass lounge access for you and two guests, plus access to Capital One Lounges (currently in Dallas, Denver, and Washington Dulles, with more coming). The CSP offers no lounge access and no travel credit. However, it does provide a 10% anniversary points bonus based on your total spending from the previous year. If you spend $20,000, that's 2,000 extra points—worth $25. Not huge, but something.
Insurance and Protections
Both cards offer solid travel insurance. The CSP includes primary rental car insurance, trip cancellation and interruption insurance up to $10,000 per person, and baggage delay coverage up to $100 per day for 5 days. The Venture X also has primary rental car insurance, trip cancellation up to $2,000 per person, and baggage delay up to $100 per day for 3 days. Chase's trip cancellation coverage is higher, but Capital One's is still respectable. One edge for CSP: it offers purchase protection and extended warranty, which Venture X lacks. If you buy electronics or other big-ticket items, that matters.
Transfer Partners: Where the Real Value Lives
Chase Ultimate Rewards transfers to United, Southwest, British Airways, Air France/KLM, Singapore, and World of Hyatt, among others. Hyatt is a standout—you can book a $400 room for 15,000 points. Capital One miles transfer to Air Canada Aeroplan, Turkish Airlines, Avianca, Singapore, and Wyndham. Turkish is a gem for business class to Europe (45,000 miles one-way). Both have strong partners, but Chase's Hyatt and United are easier for most U.S. travelers to use. If you're loyal to a specific airline or hotel, check the transfer list before deciding.
Which Card Should You Get?
Get the Chase Sapphire Preferred if you want a low annual fee, bonus points on dining and groceries, and you value Hyatt transfers. It's the better card for beginners. Get the Capital One Venture X if you travel at least a few times a year, will use the $300 travel credit, and want lounge access. The effective $0 annual fee makes it a no-brainer for frequent travelers. You can also hold both—they complement each other. But if you only want one, pick based on whether you'll use the Venture X's credits and lounges. If not, the CSP is the safer bet.