If you want a premium travel rewards card, the Capital One Venture X and the Chase Sapphire Reserve are two top contenders. They differ in annual fee, earning structure, benefits and how their points/miles can be redeemed. Below is a concise comparison to help you decide which fits your travel style.
Quick snapshot
– Annual fee: Venture X $395; Sapphire Reserve $795.
– Welcome offer: Venture X — 100,000 bonus miles after $10,000 spent in six months. Sapphire Reserve — up to 175,000 bonus points after $6,000 spent in three months (must check prequalification tool for the elevated offer; otherwise standard 125,000 points may be available).
– Reward currency: Venture X = Capital One miles (valued ~1.85¢ each by TPG Nov 2025); Sapphire Reserve = Chase Ultimate Rewards points (valued ~2.05¢ each by TPG Nov 2025).
– Primary use case: Venture X = lower annual fee, strong portal-boosted earnings and Capital One lounge access. Sapphire Reserve = richer statement credits, category bonuses and higher redemption value via Chase partners.
Welcome offers
– Venture X: 100,000 miles after $10,000 in six months (valued ≈ $1,850 at 1.85¢/mile).
– Sapphire Reserve: up to 175,000 points after $6,000 in three months (valued up to ≈ $3,588 at 2.05¢/point) — elevated offer requires prequalification. If not eligible, the typical offer is 125,000 points with same spend.
Winner: Sapphire Reserve (higher potential value).
Earning rates
– Venture X:
– 10 miles per $1 on hotels and car rentals booked through Capital One Travel
– 5 miles per $1 on flights and vacation rentals booked through Capital One Travel
– 2 miles per $1 on all other purchases
– Sapphire Reserve:
– 10 points per $1 on Peloton purchases $150+ (through 12/31/2027; cap applies)
– 8 points per $1 on Chase Travel purchases (including The Edit)
– 5 points per $1 on Lyft (through 9/30/2027)
– 4 points per $1 on flights and hotels booked directly (after $300 travel credit)
– 3 points per $1 on dining worldwide
– 1 point per $1 on everything else
Notes: Sapphire’s elevated rates on flights/hotels and Chase Travel come into effect after using the $300 annual travel credit.
Winner: Sapphire Reserve (broader bonus categories and higher returns in key spending areas).
Statement credits and annual credits
– Venture X:
– $300 annual statement credit for bookings through Capital One Travel (must book via portal)
– Up to $120 Global Entry/TSA PreCheck credit (every 4 years)
– Sapphire Reserve:
– $300 annual travel statement credit that applies to most travel purchases (no portal requirement)
– $500 annual The Edit credit for prepaid qualifying hotel stays (up to $250 biannually; rules changing to allow full use at once starting Jan. 1)
– Multiple additional credits (some through 12/31/2027): StubHub/Viagogo, dining credits, DoorDash promos + DashPass, Apple TV+/Apple Music access, Lyft monthly credits, Peloton monthly credits, Global Entry/TSA PreCheck or Nexus credit (every 4 years)
Winner: Sapphire Reserve (far more and more flexible credits overall).
Lounge access and travel benefits
– Venture X:
– Capital One lounges + Priority Pass Select (primary cardholder + up to two guests currently; note: starting Feb. 1, 2026, Venture X cardholders and authorized users will no longer get complimentary Priority Pass guest access; $35 per guest fee will apply)
– 10,000 bonus miles each card anniversary
– Hertz Gold Rewards President’s Circle status (enrollment required)
– Primary rental car CDW and travel protections; no foreign transaction fees
– Four authorized users at no extra cost
– Sapphire Reserve:
– Chase Sapphire lounges + Priority Pass Select; select Air Canada Maple Leaf lounge access when flying Star Alliance; issuer expanding its own lounge network
– IHG One Rewards Platinum Elite status (through 12/31/2027)
– Avis/National rental benefits and status discounts
– Primary rental car CDW, trip cancellation/interruption insurance and other travel protections; no foreign transaction fees
Winner: Sapphire Reserve (more expansive statement credits and generally stronger travel perks, plus continued better guest lounge access after Venture X policy change).
Redeeming rewards
– Best value for both cards is transferring to airline and hotel partners, but how they perform for direct portal redemptions differs:
– Venture X: fixed-rate redemptions at 1¢ per mile for travel purchases through Capital One (flexible but lower flat value).
– Sapphire Reserve: points can be redeemed via Chase Travel for up to ~2¢ per point depending on features (and transfers to partners typically yield more value).
Winner: Sapphire Reserve (higher portal redemption value and strong transfer partner opportunities).
Transfer partners
– Chase Ultimate Rewards: ~13 airline and hotel partners, all generally transfer 1:1 (e.g., Aeroplan, Flying Blue, United).
– Capital One: 15+ partners, many transfer 1:1 but a few transfer at different ratios.
Winner: Tie (Capital One has more partners, Chase transfers are simpler 1:1 across the board).
Who should get which card?
– Choose Chase Sapphire Reserve if you:
– Want broader bonus categories (dining, direct flight/hotel bookings, Chase Travel)
– Prefer flexible, easy-to-use travel credits that apply to most travel purchases
– Value higher point redemption potential and more statement credits (even with a $795 fee)
– Choose Capital One Venture X if you:
– Prefer a lower annual fee ($395) and a simple earning structure
– Frequently use Capital One Travel or airport(s) that have Capital One lounges
– Want a strong welcome bonus without a premium annual cost (and value the 10k-mile anniversary bonus)
Bottom line
Both cards are excellent; the right choice depends on which benefits you’ll actually use. The Venture X is a strong value for a lower fee with solid portal-boosted earnings and premium lounge access. The Sapphire Reserve carries a much higher annual fee, but it delivers broader bonus categories, more and more-flexible statement credits and generally higher redemption value — making it the better pick for those who will take full advantage of its perks.
