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

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

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.

*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.

Meanwhile, new Sapphire Reserve cardholders can earn 150,000 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 $3,075.

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.

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.

Five Capital One lounges and two Capital One Landings are currently open. Chase has its own growing network of airport lounges, with eight lounges currently open.

Both cards come with ancillary benefits, such as the Sapphire Reserve's various DoorDash perks and IHG One Rewards Platinum Elite status (both benefits through Dec. 31, 2027) and the Venture X's complimentary Hertz President's Circle status, which 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 for every cardholder anniversary.

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.

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

Both cards earn ultra-flexible 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; 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.

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.

Chase has 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 Avianca Lifemiles, Etihad Guest and Turkish Airlines Miles&Smiles.

TPG credit cards editor Olivia Mittak previously transferred 87,500 Chase points to World of Hyatt for 10 nights at various properties across Germany.

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.

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 Venture X and the 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.