Capital One Venture Rewards vs. Amex Platinum vs. Chase Sapphire Preferred: Triple threat showdown

If you’re going to add a new card to your wallet, you might as well add one with a valuable welcome bonus. Right now, three of the most popular travel rewards cards — the Capital One Venture Rewards Credit Card, The Platinum Card® from American Express and the Chase Sapphire Preferred® card — are offering solid welcome bonuses.

As such, now is a great time to add one of these cards to your wallet. In this article, I’ll compare these three cards so you can determine which card is best for you.

Capital One Venture Rewards vs. Amex Platinum vs. Chase Sapphire Preferred comparison

Let’s start with a quick overview of each card’s highlights:

Card details	Capital One Venture rewards	Amex Platinum	Chase Sapphire Preferred
Annual fee	$95 (see rates and fees)	$695 (see rates and fees)	$95
Welcome offer bonus	Earn a $250 Capital One Travel Credit upon account opening, plus 75,000 bonus miles after spending $4,000 on purchases in the first three months from account opening.	Earn 80,000 bonus points after spending $8,000 on purchases on your new card in your first six months of card membership.	Earn 60,000 bonus points after spending $4,000 on purchases in the first three months from account opening.
Earnings Rate	5 miles per dollar on hotels and rental cars booked through Capital One Travel 2 miles per dollar on all other purchases	5 points per dollar on flights booked directly with airlines or with American Express Travel (on up to $500,000 on these purchases per calendar year, then 1 point per dollar) 5 points per dollar on prepaid hotels booked with American Express Travel 1 point per dollar on all other purchases	5 points per dollar on Lyft rides through March 2025 5 points per dollar on all travel booked through Chase Travel℠ 3 points per dollar on dining, select streaming services and online grocery purchases (excluding Target, Walmart and wholesale clubs) 2 points per dollar on all other travel 1 point per dollar on all other purchases
Expected value of points/miles when used for travel*	1 to 1.85 cents each	1 to 2 cents each	1.25 to 2.05 cents each
Foreign transaction fees	None (see rates and fees)	None (see rates and fees)	None
Other standout benefits	Global Entry/TSA PreCheck application fee credit up to $100	American Express Global Lounge Collection, including access to Centurion Lounges Statement credits for select purchases charged to your card Marriott Bonvoy Gold Elite status and Hilton Honors Gold Elite status Excellent travel and shopping protections** (Enrollment is required for select benefits; terms apply)	Exceptional travel and shopping protections Up to $50 hotel credit for stays booked through Chase Travel each year

*Expected point value is an estimate based on TPG’s July 2024 valuations.
**Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details.

Venture Rewards vs. Amex Platinum vs. Sapphire Preferred welcome offer

All three cards currently offer great welcome bonuses to eligible new cardmembers. However, each bonus has different spending requirements and rewards.

The Capital One Venture Rewards currently offers a limited-time sign-up bonus of a $250 Capital One Travel credit upon account opening, plus 75,000 bonus miles after spending $4,000 on purchases in the first three months from account opening. TPG’s July 2024 valuations peg Capital One miles at 1.85 cents per point.

As such, the welcome bonus is worth up to $1,638 when you consider the value of the points and the travel credit together.

The Amex Platinum offers a welcome bonus of 80,000 bonus points after spending $8,000 on purchases on the card in the first six months of card membership. TPG’s valuations peg Amex points at 2 cents per point when you transfer points to Amex’s airline and hotel partners. So, the 80,000-point welcome bonus is worth up to $1,600.

The Chase Sapphire Preferred currently offers a sign-up bonus of 60,000 bonus points after spending $4,000 on purchases in the first three months from account opening. TPG’s valuations peg Chase points at 2.05 cents per point in value when you transfer your points to Chase’s airline and hotel partners. As such, the 60,000-point sign-up bonus is worth up to $1,230.

Be sure to consider your eligibility for each card and bonus before applying. Amex’s once-per-lifetime bonus rule and Chase’s 5/24 rule may prevent you from being approved or earning a bonus even if you have excellent credit.

Winner: Venture Rewards. The value of its welcome offer slightly edges out the Amex Platinum.

Related: Check to see if you’re targeted for elevated Amex Platinum and Amex Gold offers with CardMatch

Venture Rewards vs. Amex Platinum vs. Sapphire Preferred benefits

Frankly, it’s not fair to compare the benefits of these three cards. After all, as mid-tier travel rewards cards, the Capital One Venture Rewards and Chase Sapphire Preferred offer modest perks and annual fees (see Venture Rewards rates and fees). Meanwhile, the Amex Platinum offers standout perks with a much higher annual fee (see Venture Rewards rates and fees).

Nonetheless, here’s a quick look at the other benefits you can expect with each card.

The Venture Rewards offers a Global Entry or TSA PreCheck application fee credit of up to $100. Plus, thanks to the card’s auto rental collision damage waiver perk, you’re covered for damage due to collision or theft when you rent an eligible vehicle with your card. You’ll also get access to the card’s extended warranty protection when you purchase eligible items with your card.

The Amex Platinum offers many perks to cardmembers, including:

Enrollment is required for select benefits; terms apply.

With the Sapphire Preferred, you can get perks including:

• Travel protections, including a primary auto rental collision damage waiver, trip cancellation/interruption insurance and baggage delay insurance, when you book travel with your card
• Complimentary DashPass subscription from DoorDash for a minimum of one year after activating by Dec. 31
• Annual up to $50 hotel statement credit for hotels booked through Chase Travel

Some travelers, including my sister-in-law, believe the travel protections alone are worth paying the Chase Sapphire Preferred’s $95 annual fee. Buying the car rental company’s collision damage waiver on just two car rentals each year typically cost her more than $95 before she added the Chase Sapphire Preferred to her wallet.

Winner: Amex Platinum. The Amex Platinum offers far too many perks not to win this section.

***Eligibility and benefit level varies by card. Not all vehicle types or rentals are covered, and geographic restrictions apply. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company. Coverage is offered through American Express Travel Related Services Company, Inc.
****Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by New Hampshire Insurance Company, an AIG Company.
*****Eligibility and benefit levels vary by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company.

Related: New to travel rewards? Here’s the perfect beginner card combo

Earning rewards with the Venture Rewards vs. Amex Platinum vs. Sapphire Preferred

These three cards have vastly different earning structures. So, the best card for you depends on what other cards you have in your wallet. Here’s what you’ll earn on purchases with each card:

• Venture Rewards: 5 miles per dollar on hotels and rental cars booked through Capital One Travel and 2 miles per dollar on all purchases (9.25% return and 3.7% return, respectively, based on TPG’s valuations)
• Amex Platinum: 5 points per dollar on flights booked directly with airlines or with American Express Travel (on up to $500,000 on these purchases per calendar year, then 1 point per dollar) and on prepaid hotels booked with American Express Travel (10% return); 1 point per dollar on all other purchases (2% return)
• Sapphire Preferred: 5 points per dollar on Lyft rides through March 2025 and all travel purchases booked through Chase Travel (10.25% return); 3 points per dollar on dining and 2 points per dollar on travel (6.15% return and 4.1% return, respectively); 1 point per dollar on all other purchases (2.05% return)

Winner: Tie. Each card has a different earnings structure. Some might prefer the simplicity of the Venture Rewards, while others might prefer earning bonus points on certain travel purchases or other bonus categories with the Amex Platinum and Sapphire Preferred.

Related: My picks for the best travel cards broken down by bonus category

Redeeming rewards with the Venture Rewards vs. Amex Platinum vs. Sapphire Preferred

You can redeem the rewards earned by each of these three cards in several ways, but you’ll get the best value when you redeem for travel. And you can often get outsize value when you transfer your rewards to airline and hotel partners. In this section, I’ll quickly discuss some of the best ways to use the transferable rewards you’d earn with these cards.

You can redeem Capital One miles to book new travel or offset travel purchases you’ve made with your card within the last 90 days. You can also redeem Capital One miles for select gift cards. I recommend redeeming your miles for travel to get the most value.

Although some redemption options provide less value, you can redeem Amex Membership Rewards points for select gift cards, flights booked through Amex Travel and prepaid Amex Fine Hotels + Resorts bookings at a 1 cent per point rate. As such, even if you don’t want to transfer your Amex points to travel partners, you should still aim for a redemption value of 1 cent per point.

Sapphire Preferred cardholders can redeem Ultimate Rewards points for travel booked through the Ultimate Rewards travel portal at 1.25 cents per point.

Winner: Sapphire Preferred. The Ultimate Rewards points you earn on the Sapphire Preferred can be redeemed for travel at a greater value than the rewards earned by the Venture Rewards and Amex Platinum.

Related: Tips and tricks to get maximum value from your Capital One miles

Transferring rewards with the Venture Rewards vs. Amex Platinum Vs. Sapphire Preferred

All three of these cards have access to transfer partners. The Venture Rewards opens cardholders up to Capital One’s 15-plus transfer partners, including Air Canada Aeroplan, Air France-KLM Flying Blue and Singapore Airlines KrisFlyer.

Amex Platinum cardmembers have access to 21 transfer partners, more than any other issuer that currently offers the ability to transfer rewards. The Amex Platinum shares many transfer partners with Chase and Capital One, but some exclusives include ANA Mileage Club, Delta SkyMiles and Hawaiian Airlines HawaiianMiles.

The Sapphire Preferred offers just 14 transfer partners, but some amazing options are included. Cardholders can transfer points to British Airways Executive Club, Iberia Plus and World of Hyatt as just a few examples.

TPG senior vice president of content Jamie Page recently redeemed 217,000 Ultimate Rewards points and 195,000 Membership Rewards points for four business-class tickets from Los Angeles to Narita, Japan. Taking advantage of shared transfer partners between issuers is a great way to get great value from your rewards.

TPG values Ultimate Rewards points at a higher value than Amex Membership Rewards points or Capital One miles. We value Ultimate Rewards points at 2.05 cents per point versus 2 cents per point for Membership Rewards and 1.85 cents per mile for Capital One miles.

Winner: Amex Platinum. Your choice for the winner here will depend on your preferences for transfer partners, but from my perspective, the Amex Platinum edges out the Venture Rewards and Sapphire Preferred by having the most partner airlines and hotels.

Should you choose the Venture Rewards, Amex Platinum or Sapphire Preferred?

The Amex Platinum has the best benefits, yet it comes with a shocking $695 annual fee. If you can justify the annual fee, the Amex Platinum is the best choice. Otherwise, the choice between the Venture Rewards and Sapphire Preferred comes down to which benefits and earnings structure you find most useful.

Bottom line

The Capital One Venture Rewards, Amex Platinum and Chase Sapphire Preferred each offer great welcome bonuses right now. And, as you hopefully learned in this article, each card can provide many benefits beyond its bonus.

I recommend considering how you’d use each card’s earning rates, rewards and benefits. By doing so, one card may become a clear choice.

To learn more, check out our full reviews of the Amex Platinum, Capital One Venture Rewards and Chase Sapphire Preferred.

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Apply here: Amex Platinum
Learn More: Capital One Venture Rewards Credit Card
Apply here: Chase Sapphire Preferred Card

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Related: Amex Platinum vs. 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.

For rates and fees of the Amex Platinum, click here.