Could the Capital One Venture Rewards Card's New Bonus Topple the Chase Sapphire Preferred? - 11 minutes read
![](https://www.cnet.com/personal-finance/assets/uploads/resize/393535eb8a9ab6d1955882451dfb78839c60898b/m1/2024/07/GettyImages-1470568000.jpg?auto=webp)
Eugene Mymrin/Getty Images
There’s never been a better time to be in the market for a travel rewards card. Issuers seem to introduce a new credit card every few weeks or upgrade an existing one.
This time around, it’s Capital One’s turn. The issuer just made its flagship mid-tier travel rewards card much better by adding a one-time $250 Capital One Travel credit in your first year to its already great welcome offer. (You earn 75,000 miles once you spend $4,000 on purchases within the first three months of opening an account.)
We’ve said the Chase Sapphire Preferred® Card takes the crown as the best travel credit card. But between new additions from both Wells Fargo and Citi -- and now Capital One -- the waters are muddied. Among the midtier travel credit cards, which is the best to choose?
What’s new with the Capital One Venture Rewards card?
CNET’S PICK
3.6/5
SCORE
Rating Breakdown
3.6
Welcome Bonus
3.5
Rewards Program
3.5
Value for Money
4.0
Benefits
3.5
Fees and APR
3.0
How We Rate Rewards / Travel Cards
We rate credit cards using our Rewards / Travel methodology for cards tailored to earning rewards. We focus on each card’s reward potential, the value you get compared to the card’s cost, the benefits and the card’s rates and fees. Credit card issuers have no say or influence in our ratings. How we rate credit cards
7.1/10
SCORE
CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
Intro Offer
Earn 75,000 miles
Earn 75,000 miles once you spend $4,000 on purchases within the first 3 months of account opening, plus receive a one-time $250 Capital One Travel credit in your first cardholder year – that’s equal to $1,000 in travel
Rewards Rate
2x
– 5x
Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options; Earn unlimited 2X miles on every purchase, every day.
Rec. Credit
670 – 850
Good – Excellent
Recommended Credit: Credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application. A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
APR
19.99% – 29.99% (Variable)
CNET SCORE
Rating Breakdown
3.6
Welcome Bonus
3.5
Rewards Program
3.5
Value for Money
4.0
Benefits
3.5
Fees and APR
3.0
How We Rate Rewards / Travel Cards
We rate credit cards using our Rewards / Travel methodology for cards tailored to earning rewards. We focus on each card’s reward potential, the value you get compared to the card’s cost, the benefits and the card’s rates and fees. Credit card issuers have no say or influence in our ratings. How we rate credit cards
Additional Details
Card Details
Intro Balance Transfer APR
N/A
Intro Purchase APR
N/A
Regular APR
19.99% – 29.99% (Variable)
Balance Transfer Fee
$0 at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you
Rewards Rates
5x
Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options
2x
Earn unlimited 2X miles on every purchase, every day.
CNET SCORE
Additional Details
Rating Breakdown
3.6
Welcome Bonus
3.5
Rewards Program
3.5
Value for Money
4.0
Benefits
3.5
Fees and APR
3.0
How We Rate Rewards / Travel Cards
We rate credit cards using our Rewards / Travel methodology for cards tailored to earning rewards. We focus on each card’s reward potential, the value you get compared to the card’s cost, the benefits and the card’s rates and fees. Credit card issuers have no say or influence in our ratings. How we rate credit cards
Card Details
Intro Balance Transfer APR
N/A
Intro Purchase APR
N/A
Regular APR
19.99% – 29.99% (Variable)
Balance Transfer Fee
$0 at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you
Rewards Rates
5x
Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options
2x
Earn unlimited 2X miles on every purchase, every day.
Two things are changing with the Capital One Venture Rewards Credit Card* -- one good, one bad.
First the good news: The card got a new welcome bonus -- an update that puts it among some of the best on the market.
New cardholders will receive a one-time $250 Capital One Travel credit in the first year upon approval, plus can earn 75,000 miles after spending $4,000 within three months of account opening.
There are only a handful of other credit cards that come to mind that have a welcome bonus without a spending threshold -- any Discover credit card and the Prime Visa -- so it’s an attractive offer.
Now for the bad. The Venture Rewards card previously included two free Capital One airport lounge passes per year, but the perk ends after Dec. 31, 2024.
However, this might not be a deal breaker for you. There are currently only three Capital One lounges in the country -- Denver International Airport, Dallas Fort Worth and Washington Dulles.
Capital One could be offering the $250 credit to assuage disgruntled travelers over losing their annual airport lounge access, but we can’t say for sure.
Either way, the new travel credit could help shave off some of your travel costs. And if you won’t use the Capital One airport lounge access, the advantage of the new welcome bonus outweighs the downside of losing the airport lounge certificates.
How the Capital One Venture stacks up against its competition
With its $95 annual fee, the Capital One Venture Card sits in the crowded middle tier of travel cards. Its top competitors include the Chase Sapphire Preferred, Wells Fargo Autograph Journey℠ Card and Citi Strata Premier℠ Card.
Their welcome bonuses are:
Chase Sapphire Preferred: 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. That’s $750 when you redeem through Chase Travel℠.
Wells Fargo Autograph Journey: 60,000 bonus points when you spend $4,000 in purchases in the first three months. That’s $600 toward your next trip.
Citi Strata Premier: 70,000 bonus ThankYou® Points after spending $4,000 in the first three months of account opening. It’s redeemable for $700 in gift cards or travel rewards at thankyou.com.
With the addition of a $250 Capital One Travel credit, the Venture’s welcome bonus is worth $1,000 so long as you redeem it for travel through Capital One Travel. Which, initially, makes it the most valuable of all the cards listed above. However, there are a number of other factors you should consider before choosing which card to apply for.
Comparing rewards programs
CNET’S PICK
Intro Offer
Earn 75,000 miles
Earn 75,000 miles once you spend $4,000 on purchases within the first 3 months of account opening, plus receive a one-time $250 Capital One Travel credit in your first cardholder year – that’s equal to $1,000 in travel
Annual fee
$95
APR
19.99% – 29.99% (Variable)
Intro Purchase APR
N/A
Recommended Credit
A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
Good – Excellent
Rewards rate
2x
– 5x
Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options; Earn unlimited 2X miles on every purchase, every day.
Intro Offer
60,000 bonus points
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Travel℠.
Annual fee
$95
APR
21.49% – 28.49% Variable
Intro Purchase APR
N/A
Recommended Credit
A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
Good – Excellent
Rewards rate
1x
– 5x
5x on travel purchased through Chase Travel℠.; 3x on dining, select streaming services and online groceries.; 2x on all other travel purchases.; 1x on all other purchases.
Intro Offer
60,000 bonus points
Earn 60,000 bonus points when you spend $4,000 in purchases in the first 3 months – that’s $600 toward your next trip. Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
Annual fee
$95
APR
21.24%, 26.24%, or 29.99% Variable APR
Intro Purchase APR
N/A
Recommended Credit
A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
Good – Excellent
Rewards rate
1x
– 5x
Earn unlimited 5X points on hotels; Earn unlimited 4X points on airlines; Earn unlimited 3X points on other travel and restaurants; Earn 1X points on other purchases
Apply Now
On Wells Fargo’s secure website
1
2
3
The Chase Sapphire Preferred arguably has the best rewards program of the four cards. Mainly due to its 25% redemption bonus for redeeming rewards for travel through Chase Travel℠.
That means its 60,000 bonus points, when redeemed for travel, are actually worth $750 (60,000 x 1.25), making it the second-highest payout.
But what really sets the Sapphire Preferred apart from the rest is its 1:1 point-transfer rate to Chase’s travel partners, which include JetBlue, United, Southwest and Marriott Bonvoy.
The Wells Fargo Autograph Journey has the second-best rewards program because it earns 5x points on hotels and 4x points on airlines, regardless of which airline or hotel you’re booking with. Most other cards -- including the Venture Rewards, Citi Strata Premier and Sapphire Preferred -- require you to book travel through their issuer travel portals to get that kind of rate.
However, Wells Fargo lacks transfer partners for domestic air travel (it does offer a 1:2 transfer ratio with Choice Privileges).
The Citi Strata Premier Card is third in line, thanks to its rewards rate and a few high transfer rates to some of Citi’s transfer partners, including a 1:2 ratio to Choice hotels. However, it doesn’t offer many attractive partners for domestic travel outside of JetBlue, Wyndham and Choice Privileges.
That means the Capital One Venture Rewards Card comes in last. It has the lowest rewards rate and no domestic airline partners to take advantage of.
The Venture offers at least one useful perk that none of the other cards do: a fee credit for TSA PreCheck or Global Entry. This can streamline your TSA experience, helping make travel less stressful.
So which card is the best midtier travel card?
The Venture Rewards card has a lot going for it. Between its new welcome offer and its TSA PreCheck or Global Entry application fee credit, travelers can get plenty of value from the card’s $95 annual fee.
And its rewards are flexible and easy to earn. The only downside is that there aren’t many good transfer partners to choose from. However, if you’re an occasional traveler who doesn’t typically use mile transfers, the value of the welcome bonus and its card perks make it a strong option.
If you do want to get extra value from your points and earn more of them, the Chase Sapphire Preferred is still the best choice. You’ll get a little less value from its welcome offer, but thanks to its great rewards program and selection of travel partners, you’ll likely get more value from the Sapphire Preferred than you would from the Venture Rewards in the long run.
Alternatively, you could choose the Wells Fargo Autograph Journey to earn hotel or airline rewards that aren’t limited to specific brands or travel portals. However, considering the program’s newness, it’s too early to tell how lucrative it will be. Wells Fargo will likely add more travel partners and features in time.
For now, either the Venture or the Sapphire Preferred will be the card to choose. If you want to go the extra mile and get a greater per-point value by using point transfers, choose the Sapphire Preferred. But if you’re looking for a simple yet rewarding card experience with some great extra card perks, now is the best time to apply for the Venture Rewards card.
*All information about the Capital One Venture Rewards Credit Card has been collected independently by CNET and has not been reviewed by the issuer.
The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.
Source: CNET
Powered by NewsAPI.org