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The Points Guy believes that credit cards can transform lives, helping you leverage everyday spending for cash back or travel experiences that might otherwise be out of reach. That's why we publish a variety of editorial content and card comparisons: to help you find a great card to turn your goals into reality.
Our site may earn compensation when a customer clicks on a link, when an application is approved, or when an account is opened with our partners, and this may impact how or where these products appear. While we don't cover all available credit cards, our editorial team creates and maintains all of the analysis of these cards, and our content is not influenced nor subject to review by any credit card company, bank or partner prior to (or after) publication. Please view our advertising policy and product review methodology for more information.
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Capital One Venture X vs. Chase Sapphire Reserve: Which premium card comes out on top?
Augusta Stone is a credit cards writer for TPG. She joined the TPG team in 2023 and is excited to take points and miles beginners with her on a journey toward maximizing rewards.
Credit card writer Danyal Ahmed is an avid traveler, averaging about 100,000 aeronautical miles per year. He regularly applies that knowledge and his expertise in credit cards to his role as a credit card writer at TPG.
also contributed to this story
May 30, 2026 • 12 min read
The cards we feature here are from partners who compensate us when you are approved through our site, and this may impact how or where these products appear. We don't cover all available credit cards, but our analysis, reviews, and opinions are entirely from our editorial team. Terms apply to the offers listed on this page. Please view our advertising policy and product review methodology for more information.
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Quick summary
This article compares two leading premium travel rewards cards, focusing on their benefits, earning structures and redemption options.
Both cards offer annual travel credits, lounge access and a range of travel protections, but differ in how credits are applied and the flexibility of earning and redeeming rewards.
One card stands out for its higher value statement credits, broader bonus categories and more flexible travel credit usage, while the other appeals with a lower annual fee and straightforward earning.
The value of points or miles earned and the number of transfer partners are also analyzed, with one card offering slightly higher redemption rates and more versatile transfer options.
What to consider
Travel credits may require booking through a specific portal to be eligible.
Some transfer partners may not offer a 1:1 transfer ratio, affecting the value of transferred rewards.
Elevated earning rates in certain categories may only apply after using the annual travel credit.
What you'll miss from the article
A detailed side-by-side breakdown of benefits, earning structures and redemption strategies to help you choose the best premium travel rewards card for your needs.
Generated by AI with support from our editorial team.
Comments
By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
These cards vary in terms of annual fees, earning rates and benefits. And, of course, each earns points or miles in its own currency. You'll collect Chase Ultimate Rewards points with the Sapphire Reserve, while you'll earn Capital One miles with the Venture X.
Whether you're weighing a switch from one option to the other or ready to apply for your first premium card, either could be a solid choice, depending on your goals and spending habits. Let's analyze the details of each to help you decide whether the Capital One Venture X or the Chase Sapphire Reserve is the card for you.
Capital One Venture X vs. Chase Sapphire Reserve comparison
Here's what to know about the cards at first glance.
StubHub and Viagogo credit (through Dec. 31, 2027; activation required)
Other card benefits
Capital One and Priority Pass lounge access
Complimentary Hertz Gold Rewards President’s Circle status*
No foreign transaction fees
Travel and purchase protections
Primary auto rental collision damage waiver
10,000 bonus miles each account anniversary
Sapphire lounge access, Priority Pass Select membership and access to select Air Canada Maple Leaf lounges when flying on a Star Alliance airline
IHG One Rewards Platinum Elite status (through Dec. 31, 2027)
No foreign transaction fees
Primary auto rental collision damage waiver
Rental car benefits and elite status with Avis and National
Travel and purchase protections
Trip cancellation and interruption coverage
Plus, you can unlock these benefits after spending $75,000 or more in a calendar year:
IHG One Rewards Diamond Elite status
Southwest Rapid Rewards A-List status
World of Hyatt Explorist status
$500 Southwest Airlines Chase Travel credit
$250 Shops at Chase credit
*Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at that status level through the duration of the offer. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g., at hertz.com) will not automatically detect a cardholder as being eligible for the program, and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply.
Capital One Venture X vs. Chase Sapphire Reserve welcome offer
New Venture X cardholders can earn 75,000 bonus miles after spending $4,000 on purchases in the first three months from account opening.
TPG's May 2026 valuations place Capital One miles at 1.85 cents apiece, making this welcome offer worth $1,388.
THE POINTS GUY
Meanwhile, new Sapphire Reserve cardholders can earn 100,000 bonus points after spending $6,000 on purchases in the first three months from account opening.
TPG’s May 2026 valuations place Chase Ultimate Rewards points at 2.05 cents apiece, making this welcome offer worth $2,050.
Chase Ultimate Rewards points are slightly more valuable than Capital One miles, in part because of Chase's high-value transfer partners.
Winner: Sapphire Reserve. Its welcome bonus is worth more.
Capital One Venture X vs. Chase Sapphire Reserve benefits
Both cards offer a $300 annual travel credit, but there are key differences to consider. The Venture X's travel credit isn't flexible, as you have to book through Capital One Travel to receive it.
Meanwhile, the Sapphire Reserve's credit is easier to use, as it automatically applies to any travel purchase up to $300 and doesn't require booking directly with Chase.
HOTEL ALFONSO XIII SEVILLE/FACEBOOK
The credit on the Sapphire Reserve can cover everything from tolls to parking meters to international subway fares. Additionally, with the Sapphire Reserve, you receive multiple credits, including two up-to-$250 credits for prepaid hotel stays of at least two nights made through The Edit and an up to $150 biannual credit for Sapphire Reserve Exclusive Tables booked through OpenTable.
When it comes to lounge access, both cards offer a Priority Pass membership. This grants access to over 1,800 lounges for the cardholder and up to two guests.
Both issuers are also actively expanding their own lounge networks.
10 points per dollar spent on Peloton equipment and accessory purchases of $150 or more (through Dec. 31, 2027; maximum of 50,000 points)
8 points per dollar spent on purchases made through Chase Travel℠, including The Edit
5 points per dollar spent on Lyft rides (through Sept. 30, 2027)
4 points per dollar spent on flights and hotels booked directly
3 points per dollar spent on dining worldwide
1 point per dollar spent on everything else
Elevated earning rates on flights and hotels booked directly and Chase Travel purchases apply only after exhausting the $300 annual travel credit.
According to TPG's valuations, the Venture X offers an 18.5% return on hotels and rental cars booked through Capital One’s portal, while the Sapphire Reserve returns 16.4% on purchases through Chase Travel.
The Venture X offers simplicity with 2 miles per dollar spent on all other purchases. The Sapphire Reserve offers higher returns in certain categories, including 4 points per dollar spent on hotels and flights booked directly and 3 points per dollar spent on dining purchases.
Frequent travelers will likely earn more with the Sapphire Reserve’s bonus categories than they will with the Venture X’s flat-rate earning structure.
Winner: Sapphire Reserve. It offers bonus earnings in categories beyond travel portal bookings.
Redeeming rewards with the Capital One Venture X vs. the Chase Sapphire Reserve
The most valuable option for redeeming with either the Capital One Venture X or the Sapphire Reserve is transferring points or miles to travel partners. However, that’s not the only way to use your rewards on either card.
ZACH GRIFF/THE POINTS GUY
Capital One miles and Chase Ultimate Rewards points can both be used for flat-rate redemptions on each respective issuer’s travel portal.
With the Chase Sapphire Reserve, your points can generally be used to book travel directly through Chase Travel at a value of up to 2 cents per point, depending on the card and the specific redemption, with the Points Boost feature(see your rewards program agreement for full details).
With select hotels, your points may even be worth up to 2.5 cents per point through this feature.
While this typically isn’t as rewarding as transferring your points to Chase’s transfer partners, this redemption option is useful if you have trouble finding award space.
Meanwhile, the Venture X offers fixed-rate travel redemptions at just 1 cent per mile — and while this can be applied to any travel purchase charged to the card, it’s still a notably lower rate than what you can get with the Sapphire Reserve.
Both the Venture X and the Sapphire Reserve also offer less lucrative redemption options, such as gift cards and cash back.
Winner: Sapphire Reserve. Redeeming your rewards for travel is up to 50% more lucrative than with the Venture X.
Transferring rewards with the Capital One Venture X vs. Chase Sapphire Reserve
Transferring rewards to travel partners is the best way to maximize those hard-earned points and miles.
Both Chase and Capital One offer an impressive list of transfer partners, making redeeming rewards the best option.
With the Sapphire Reserve, you can transfer your Ultimate Rewards points at a simple 1:1 ratio.
On the other hand, the Capital One miles program has partners that transfer at a 1:1 ratio for the most part, but a couple of exceptions transfer at a less favorable ratio.
You can also take advantage of transfer bonuses to get maximum value.
Winner: Tie. Despite Capital One having more transfer partners, not all transfers occur at a 1:1 ratio.
Should I get the Capital One Venture X or the Chase Sapphire Reserve?
If you value broader earning potential and a flexible travel credit, the Sapphire Reserve is a good choice. But if you prefer paying a lower annual fee and frequently travel out of an airport with a Capital One Lounge, the Venture X is likely the better card for you.
