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When seeking a premium travel rewards credit card, you’ll likely encounter two leading contenders: the recently updated Chase Sapphire Reserve® (see rates and fees) and the Capital One Venture X Rewards Credit Card.
These cards differ significantly in terms of annual fees, rewards rates, and benefits. Each also has its own unique earning structure: the Sapphire Reserve earns Chase Ultimate Rewards points, while the Venture X accumulates Capital One miles.
Whether you’re considering switching from one to the other or looking to apply for your first premium card, both options could be excellent choices based on your spending habits and travel goals.
Let’s delve into the specifics of each card to help you determine whether the Capital One Venture X or the Chase Sapphire Reserve is the right fit for you.
Comparison: Capital One Venture X vs. Chase Sapphire Reserve
Here’s a quick overview of both cards.
| Feature | Capital One Venture X | Chase Sapphire Reserve |
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$395 |
$795 |
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Earn 100,000 bonus miles after spending $10,000 on purchases in the first six months. |
Earn up to 175,000 bonus points after spending $6,000 in the first three months.
Eligibility for the elevated offer is via Chase’s pre-qualification tool, which doesn’t affect your credit score. If ineligible, you may still qualify for 125,000 points. |
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Higher earn rates on travel booked directly apply only after the $300 annual travel credit is used. |
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*Enrollment required for Hertz President’s Circle status via Capital One.
Welcome Offers: Capital One Venture X vs. Chase Sapphire Reserve
New Venture X cardholders can earn 100,000 bonus miles after spending $10,000 in the initial six months.
According to Flying Frugal’s November 2025 valuations, Capital One miles are worth approximately 1.85 cents each, making this welcome offer valued at around $1,850.
Conversely, new Sapphire Reserve cardholders can earn up to 175,000 bonus points after spending $6,000 in the first three months. Again, eligibility for this offer can be checked through Chase’s pre-qualification widget.
If you’re ineligible for the more substantial offer, you might still qualify for the standard 125,000-point option.
With Chase Ultimate Rewards points valued at approximately 2.05 cents each (as of November 2025), this welcome offer could be worth up to $3,588.
The increased value of Chase Ultimate Rewards points is largely thanks to Chase’s excellent transfer partners.
Winner: Sapphire Reserve, as its welcome bonus has higher value.
Related: How does the Capital One Venture X’s 100,000-mile bonus compare?
Benefits: Capital One Venture X vs. Chase Sapphire Reserve
The unique benefits of each card set them apart. Here’s a quick glance at their features.
| Benefit | Venture X | Sapphire Reserve |
|---|---|---|
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After spending $75,000 or more, you unlock these benefits:
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Both cards offer a $300 annual travel statement credit, but the Venture X’s credit must be used through Capital One Travel, while the Sapphire Reserve’s credit applies automatically to any travel purchase up to $300, making it more flexible.
The Sapphire Reserve covers various travel expenses like tolls and parking, while the Venture X’s credit is limited to bookings through Capital One Travel. Additionally, the Sapphire Reserve offers numerous credits, including up to $250 for The Edit and a $150 dining credit.
Both cards include lounge access via Priority Pass, permitting the cardholder and up to two guests. Starting February 1, 2026, the Venture X will change guests’ access to a $35 fee per guest, while the Sapphire Reserve maintains complimentary guest access.
Both issuers are continually expanding their lounge networks, with multiple Capital One lounges and Chase lounges already operational.
Both cards offer valuable ancillary benefits, such as the Sapphire Reserve’s DoorDash perks and IHG One Rewards Platinum Elite status, alongside Venture X’s complimentary Hertz President’s Circle status.
With the Venture X, cardholders receive a 10,000-mile bonus annually on their card anniversary.
Both cards are Visa Infinite products, providing comprehensive travel and purchase protections.
Winner: Sapphire Reserve, due to its extensive benefits and credits that far exceed those of the Venture X. Furthermore, starting February 1, 2026, lounge access for guests will be more favorable with the Sapphire Reserve.
Related: Tips for ensuring lounge access on your next trip
Earning Rewards: Venture X vs. Sapphire Reserve
Both cards offer flexible reward currencies. The Venture X earns:
- 10 miles per dollar on hotels and car rentals booked through Capital One Travel
- 5 miles per dollar on flights and vacation rentals booked through Capital One Travel
- 2 miles per dollar on all other purchases
Meanwhile, the Sapphire Reserve earns:
- 10 points per dollar on Peloton equipment over $150 (until Dec. 31, 2027; maximum of 50,000 points)
- 8 points per dollar through Chase Travel
- 5 points per dollar on Lyft (until Sept. 30, 2027)
- 4 points per dollar on direct flight and hotel bookings
- 3 points per dollar on dining worldwide
- 1 point per dollar on all other purchases
Elevated earning rates apply after the $300 annual travel credit has been exhausted.
Flying Frugal’s analysis indicates that the Venture X offers an 18.5% return on hotels and rental cars booked through Capital One’s portal, while the Sapphire Reserve provides a 16.4% return on purchases via Chase Travel.
Despite the simplicity of the Venture X’s flat rate of 2 miles per dollar on other purchases, the Sapphire Reserve’s higher earning potential in specific categories, including travel and dining, is advantageous for frequent travelers.
Winner: Sapphire Reserve, due to its numerous bonus earning categories.
Related: Best rewards credit cards
Redeeming Rewards: Venture X vs. Sapphire Reserve
The ideal way to redeem points or miles for both the Venture X and the Sapphire Reserve is by transferring them to travel partners. But there are other redemption options as well.
Both Capital One miles and Chase Ultimate Rewards points can be redeemed at flat rates on travel portals. With the Sapphire Reserve, points can be redeemed for travel via Chase Travel at up to 2 cents each, depending on the redemption method.
While booking directly through Chase’s partners is typically more lucrative, this option is convenient if award space is limited.
On the other hand, the Venture X offers fixed-rate redemptions at 1 cent per mile, applicable to any travel charges made to the card, which is less advantageous.
Other less favorable redemption options include gift cards and cash back for both cards.
Winner: Sapphire Reserve, as it offers more valuable travel redemption options than Venture X.
Related: Optimal strategies for mixed-point and cash award redemptions
Transferring Rewards: Venture X vs. Sapphire Reserve
Maximizing value through transferring rewards to travel partners is a great strategy.
Both Chase and Capital One feature a robust selection of transfer partners for redemptions. Chase allows transfers of Ultimate Rewards points at a straightforward 1:1 ratio.
Capital One also has numerous partners, primarily transferring at a 1:1 ratio, though some do not.
Chase offers 13 transfer partners, including prominent names like Air Canada Aeroplan, Air France-KLM Flying Blue, and United MileagePlus.
In contrast, Capital One has over 15 partners, including Avianca LifeMiles and Turkish Airlines Miles & Smiles.
Flying Frugal credit card writer Chris Nelson recently shared that he transferred 54,000 points to United MileagePlus for a Polaris business class upgrade.
Take advantage of transfer bonuses for maximum value as well.
Winner: Tie; while Capital One has more partners, not all transfers are at a 1:1 ratio.
Should I Choose Capital One Venture X or Chase Sapphire Reserve?
If you prefer a wide range of earning options and a versatile travel credit, consider the Chase Sapphire Reserve. However, if a lower annual fee and accessing Capital One lounges are more appealing, the Capital One Venture X may be the right choice for you.
Final Thoughts
Both the Capital One Venture X Rewards Credit Card and the Chase Sapphire Reserve have unique advantages depending on what benefits you value more.
With a lower annual fee — nearly half that of the Sapphire Reserve — the Venture X is a fantastic option, provided you utilize the travel portal effectively.
For those who prefer booking directly with travel companies and want a broader array of statement credits and perks, the Chase Sapphire Reserve, despite its higher $795 annual fee, is typically the superior pick.
To learn more, check out our detailed reviews for both the Capital One Venture X and the Chase Sapphire Reserve.
Learn more: Capital One Venture X Rewards Credit Card
Apply here: Chase Sapphire Reserve
Some benefits mentioned may be provided by Visa® or Mastercard® and can vary by product. Refer to the respective Guide to Benefits for additional information and terms.
