Capital One Venture X vs. Chase Sapphire Reserve: Which premium card comes out on top?

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July 09, 2025

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17 min read

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Quick summary

If you're looking for a premium travel rewards credit card, two popular options are likely to pop up in your search: the recently refreshed Chase Sapphire Reserve® (see rates and fees) and the Capital One Venture X Rewards Credit Card.

These cards vary when it comes to 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.

Feature	Capital One Venture X	Chase Sapphire Reserve
Annual fee	$395	$795
Welcome bonus	Earn 75,000 bonus miles after spending $4,000 on purchases within the first three months from account opening.	Earn 100,000 bonus points and a $500 Chase Travel℠ credit after spending $5,000 on purchases within the first three months from account opening.
Earning rates	Earn 10 miles per dollar spent on hotels and rental cars booked through Capital One Travel. Earn 5 miles per dollar spent on flights and vacation rentals booked through Capital One Travel. Earn 2 miles per dollar spent on all other eligible purchases.	Earn 10 points per dollar spent on Peloton equipment and accessory purchases of $150 or more through Dec. 31, 2027, with a maximum of 50,000 points. Earn 8 points per dollar spent on purchases made through Chase Travel, including The Edit. Earn 5 points per dollar spent on Lyft rides through Sept. 30, 2027. Earn 4 points per dollar spent on flights and hotels booked directly. Earn 3 points per dollar spent on dining worldwide. Earn 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 and the $500 Chase Travel credit featured as part of the welcome bonus. Existing Sapphire Reserve cardholders won't get access to the new earning rates until Oct. 26.
Statement credits	$300 annual credit on bookings through Capital One Travel Up to $120 Global Entry/TSA PreCheck credit	$500 annual The Edit credit (allotted as up to $250 in statement credit biannually) to use on The Edit properties via Chase Travel $300 annual travel statement credit for travel purchases each year $300 annual StubHub and Viagogo credit (through Dec. 31, 2027; allotted as up to $250 statement credit biannually) $300 annual dining credit at Open Table $300 in annual DoorDash credits: up to $25 in monthly promos with two $10 nonrestaurant promos and one $5 restaurant promo, plus a complimentary DashPass membership for at least one year worth $120 (must activate by Dec. 31, 2027) Up to $250 annually in the form of complimentary Apple TV+ and Apple Music subscriptions (through June 22, 2027; one-time activation per service through chase.com or Chase Mobile app is required) Up to $120 annually (up to $10 each month) in Lyft in-app credits (through Sept. 30, 2027; credit does not apply to Wait & Save, bike or scooter rides) Up to $120 Peloton credit (through Dec. 31, 2027; activation required) Up to $120 Global Entry, TSA PreCheck or Nexus application fee statement credit (once every four years)
Other card benefits	Complimentary Capital One and Priority Pass lounge access for the primary cardholder and up to two guests 10,000 bonus miles every card anniversary Complimentary Hertz Gold Rewards President's Circle status* Travel and purchase protections Four authorized users at no additional cost No foreign transaction fees	Chase and Priority Pass lounge access for the primary cardholder and up to two guests, plus access to select Air Canada Maple Leaf lounges for you and one guest when flying on a Star Alliance airline Complimentary status upgrades and discounts with Avis and National Travel and purchase protections No foreign transaction fees

*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.

It's important to note that for existing Sapphire Reserve cardholders, these benefits and earning rates take effect starting Oct. 26.

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 within the first three months from account opening.

TPG's July 2025 valuations peg Capital One miles at 1.85 cents apiece, making this welcome offer worth $1,388. This is the standard welcome offer we typically see on this card.

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Meanwhile, new Sapphire Reserve cardholders can earn 100,000 bonus points and a $500 Chase Travel credit after spending $5,000 on purchases within the first three months from account opening.

This is the best-ever welcome offer we have seen on the card, making now a great time to apply. TPG's July 2025 valuations peg Chase Ultimate Rewards points at 2.05 cents apiece, making this welcome offer worth up to $2,550 (including the $500 Chase Travel credit).

Chase Ultimate Rewards points are slightly more valuable than Capital One miles, due in part to Chase's high-value transfer partners.

Winner: Sapphire Reserve. Its welcome bonus is worth almost double if fully maximized.

Capital One Venture X vs. Chase Sapphire Reserve benefits

The benefits are what make these cards stand out above the rest. Here's a look at the benefits at first glance.

Benefit	Venture X	Sapphire Reserve
Statement credits	$300 annual credit on bookings through Capital One Travel Up to $120 Global Entry/TSA PreCheck credit	$500 annual The Edit credit (allotted up to $250 statement credit biannually) to use on The Edit via Chase Travel booking $300 annual travel credit for travel purchases each year $300 annual StubHub and Viagogo credit (allotted up to $250 in statement credits biannually) $300 annual dining credit (allotted up to $150 in statement credit at Sapphire Reserve Exclusive Tables) $300 annual with DoorDash: up to $25 in monthly promos with two $10 nonrestaurant promos and one $5 restaurant promo, plus a complimentary DashPass membership for at least one year worth $120 (must activate by Dec. 31, 2027) $250 annually in complimentary Apple TV+ and Apple Music subscriptions (one-time activation per service through chase.com or Chase Mobile app required) Up to $120 annually (up to $10 each month) in Lyft in-app credits (through Sept. 30, 2027; credit does not apply to Wait & Save, bike or scooter rides) Up to $120 Peloton credit (through Dec. 31, 2027; activation required) Up to $120 Global Entry, TSA PreCheck or Nexus application fee statement credit (once every four years)
Travel benefits	Capital One lounge access and Priority Pass Select membership Hertz President's Circle status 10,000 bonus miles every card 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) Rental car benefits and elite status with Avis and National Plus, you can unlock these benefits after spending $75,000 or more in a calendar year Southwest Rapid Rewards A-List status IHG One Rewards Diamond Elite status $500 Southwest Airlines credit $250 Shops at Chase credit
Other benefits	Primary auto rental collision damage waiver Travel and purchase protections No foreign transaction fees	Primary auto rental collision damage waiver Travel and purchase protections Trip cancellation and interruption No foreign transaction fees

Benefit

Venture X

Sapphire Reserve

Statement credits

$300 annual credit on bookings through Capital One Travel
Up to $120 Global Entry/TSA PreCheck credit

$500 annual The Edit credit (allotted up to $250 statement credit biannually) to use on The Edit via Chase Travel booking
$300 annual travel credit for travel purchases each year
$300 annual StubHub and Viagogo credit (allotted up to $250 in statement credits biannually)
$300 annual dining credit (allotted up to $150 in statement credit at Sapphire Reserve Exclusive Tables)
$300 annual with DoorDash: up to $25 in monthly promos with two $10 nonrestaurant promos and one $5 restaurant promo, plus a complimentary DashPass membership for at least one year worth $120 (must activate by Dec. 31, 2027)
$250 annually in complimentary Apple TV+ and Apple Music subscriptions (one-time activation per service through chase.com or Chase Mobile app required)
Up to $120 annually (up to $10 each month) in Lyft in-app credits (through Sept. 30, 2027; credit does not apply to Wait & Save, bike or scooter rides)
Up to $120 Peloton credit (through Dec. 31, 2027; activation required)
Up to $120 Global Entry, TSA PreCheck or Nexus application fee statement credit (once every four years)

Travel benefits

Capital One lounge access and Priority Pass Select membership
Hertz President's Circle status
10,000 bonus miles every card 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)
Rental car benefits and elite status with Avis and National

Plus, you can unlock these benefits after spending $75,000 or more in a calendar year

Southwest Rapid Rewards A-List status
IHG One Rewards Diamond Elite status
$500 Southwest Airlines credit
$250 Shops at Chase credit

Other benefits

Primary auto rental collision damage waiver
Travel and purchase protections
No foreign transaction fees

Primary auto rental collision damage waiver
Travel and purchase protections
Trip cancellation and interruption
No foreign transaction fees

Both cards have a $300 annual credit, but there are some key differences to consider. The travel credit on the Venture X isn't flexible; you have to book through Capital One Travel to be reimbursed.

The Sapphire Reserve's credit is simpler to use since it automatically applies to any travel purchase up to $300 and doesn't require booking directly with Chase.

The credit on the Sapphire Reserve could cover everything from tolls to parking meters to international subways. Additionally, with the Sapphire Reserve, you receive a myriad of credits, including an up to $500 The Edit credit for hotels and an up to $300 annual Chase Dining credit.

When it comes to lounge access, both cards offer a Priority Pass membership. This grants access to over 1,700 lounges for the cardholder and up to two guests. However, starting Feb. 1, 2026, primary cardholders and authorized users of the Venture X won't be able to bring complimentary guests to Priority Pass lounges. A fee of $35 will apply per guest.

Regardless of spending, guest access at Priority Pass lounges will not be complimentary for Venture X cardholders.

Both issuers are also actively expanding their own lounge networks.

Five Capital One lounges and one Capital One Landing are currently open at six airports across the U.S.:

Another Capital One Landing is scheduled to open at New York's LaGuardia Airport (LGA).

The Venture X includes Capital One Lounge access for the primary cardholder and authorized users, with each allowed two complimentary guests. However, starting Feb. 1, 2026, authorized users will need to pay $125 per card for lounge access, and primary cardholders will have to spend $75,000 or more in a calendar year to unlock guest lounge access. Cardholders who do not spend at least $75,000 in a calendar year will be charged $45 per adult guest and $25 for children 2 to 17, while children under 2 will still be able to enter for free. They will still be able to add up to four authorized users at no additional cost.

Chase has its own growing network of airport lounges, with eight lounges:

Chase also plans to open lounges at LAS and Los Angeles International Airport (LAX) in the future.

Both cards come with ancillary benefits, such as the Sapphire Reserve's various DoorDash perks and IHG One Rewards Platinum Elite status and the Venture X's complimentary Hertz status, that may not necessarily move the needle for prospective applicants. Still, these perks are all worth taking advantage of if you decide to apply for either card.

With the Venture X, you'll get a 10,000-mile anniversary bonus each year of card membership renewal.

Additionally, both cards are Visa Infinite cards and provide high-level travel and purchase protections.

Winner: Sapphire Reserve. Its benefits and statement credits provide almost triple the value of the Venture X's. Plus, beginning Feb. 1, 2026, guests will have better lounge access on the Sapphire Reserve.

Earning rewards with the Capital One Venture X vs. Chase Sapphire Reserve

Both cards earn ultraflexible rewards currencies. The Venture X earns:

10 miles per dollar spent on hotels and car rentals booked through Capital One Travel
5 miles per dollar spent on flights and vacation rentals booked through Capital One Travel
2 miles per dollar spent on all other purchases

Meanwhile, the Sapphire Reserve earns:

10 points per dollar spent on Peloton equipment and accessory purchases of $150 or more through Dec. 31, 2027, with a 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. Chase is also soon launching a vacation home booking platform via Chase Travel.

According to TPG's July 2025 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.

Related: Best rewards credit cards

Redeeming rewards with the Capital One Venture X vs. 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.

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 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 (see your rewards program agreement for full details). While this 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 you charge to the card, it's still notably lower.

Both the Venture X and the Sapphire Reserve also offer less lucrative redemption options, such as gift cards and cash back.

Winner: Chase Sapphire Reserve. Redeeming your rewards for travel is 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 that make redeeming rewards the best option.

With the Chase 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 there are a couple of exceptions that transfer at a less favorable ratio.

Chase offers 14 airline and hotel transfer partners, which include Air Canada Aeroplan, Air France-KLM Flying Blue and United MileagePlus, to name a few.

Meanwhile, Capital One has 15-plus transfer partners. Some notable names include Turkish Airlines Miles&Smiles, Avianca LifeMiles and Etihad Guest.

TPG writer Danyal Ahmed consistently transfers his Ultimate Rewards points to partners to redeem them for maximum value. He recently transferred points to Air Canada Aeroplan, taking advantage of a transfer bonus to book a business-class flight from Zurich to Los Angeles on Swiss for 58,000 miles.

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 Chase 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 Capital One Venture X is likely the better card for you.

Bottom line

Both the Capital One Venture X Rewards Credit Card and the Chase Sapphire Reserve have their own strengths and weaknesses, and it really comes down to your preference on what benefits are useful to you or not. However, for a much more manageable annual fee, almost half of the Sapphire Reserve, the Venture X is a fantastic offering — if you don't mind using the travel portal to unlock many of the benefits on the card.

For those who prefer to book directly with travel providers and want more statement credits and benefits, the Chase Sapphire Reserve is likely the better option for you, though it comes with a higher $795 annual fee.

To learn more, check out our full reviews of the Capital One Venture X and the Chase Sapphire Reserve.

Learn more: Capital One Venture X Rewards Credit Card
Apply here: Chase Sapphire Reserve

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

Featured image by DRAGONIMAGES/GETTY IMAGES

Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.