Chase and Capital One are 2 of the largest banks in the U.S., and while they both have drastically different structures, products, and focuses, it is worthwhile to pit the 2 of them against each other and figure out which is best.
In the past, Chase has been an absolute powerhouse in credit cards, whether you were looking for cash-back, travel rewards, or business credit cards. However, Capital One has been playing catch-up in recent years, and this has ultimately resulted in comparisons being drawn between the two.
In this guide, we’ll be comparing the credit cards offered in each category by both banks and showing you the top (and runner-up) credit card choices between Chase and Capital One.
We’ll first discuss the differences between the 2 rewards programs and why it’s important to know the characteristics of each. Then we’ll break down the top credit card categories and determine which cards come out on top and in second place.
Let’s get started!
Comparing Capital One Miles and Chase Ultimate Rewards
Capital One miles and Chase Ultimate Rewards points can both be redeemed for Singapore Airlines First Class Suites. Image Credit: Alex Miller
Capital One’s main rewards program is known as Capital One Miles, while Chase’s rewards program is known as Chase Ultimate Rewards.
You can earn Capital One miles by making purchases using Capital One Miles credit cards, and you can earn Ultimate Rewards points by making purchases using Chase Ultimate Rewards credit cards.
Each credit card earns points at different rates and on different categories, such as dining or travel.
Capital One miles and Chase Ultimate Rewards points can both be used for statement credits, gift cards, experiences, and more. In general, using your points in these ways will get you a value of 1 cent per point. For example, you can redeem 10,000 Capital One miles or Chase Ultimate Rewards points for $100 in statement credits or for a $100 gift card.
However, where these 2 rewards systems start to diverge is when we talk about the other (better!) ways to redeem your points. For example, since these 2 are both known as flexible points, you can transfer them to different airline and hotel partners.
Capital One Miles and Chase Ultimate Rewards each have different transfer partners. Some transfer partners, such as Singapore Airlines KrisFlyer and Air France/KLM Flying Blue are part of both rewards systems, while others, such as United Airlines MileagePlus (with Chase) and Avianca LifeMiles (with Capital One) are only partners with 1 of the rewards systems.
Also, Chase maintains a 1:1 transfer ratio with all of its partners, while Capital One maintains a 1:1 transfer ratio with most of its partners.
Both of these rewards systems have excellent transfer partnerships, overall.
And if you’re not looking to redeem points through transfer partners, you can redeem Capital One miles via Capital One Travel for 1 cent each or Chase Ultimate Rewards points through the Chase travel portal at up to 1.5 cents each, which is a 50% bonus compared to the normal redemption value.
On the other hand, Capital One maintains a pretty consistent value of 1 cent per mile when redeeming for anything besides transfer partners.
There are only a handful of credit cards that can earn Capital One miles, while there are many credit cards that can earn Ultimate Rewards points. In general, both issuers allow you to earn up to 10 miles or points per dollar spent.
When you take everything into consideration, Chase Ultimate Rewards points are worth around 2 cents each, and Capital One miles are worth around 1.8 cents each, according to our valuations.
Bottom Line: Chase Ultimate Rewards is the superior points currency, with a small caveat that Capital One has a few niche transfer partners, such as Cathay Pacific Asia Miles, that could be useful in some situations. And unless you never want to think about bonus categories and are willing to accept a lower earning structure, Chase Ultimate Rewards is the clear winner over Capital One Miles.
Best Overall Travel Rewards Credit Card
The best overall travel rewards credit cards offer exceptional rewards without a huge price tag. And luckily, both Chase and Capital One offer exceptional products in this arena.
Let’s compare the top 2 contenders!
Winner: Chase Sapphire Preferred® Card
The Chase Sapphire Preferred card is one of the most popular travel credit cards in the U.S. It also happens to be the best beginner rewards credit card available.
Even so, the most seasoned points enthusiasts love keeping this card in their arsenal.
One of the things that make this credit card exceptional is the fact that its welcome offer is consistently awesome — with a bit of monthly spending after opening the card, you’ll see a massive pop in your point balance.
But if you look past the introductory offer, you’ll find a very attractive earning rate of 5x points on travel purchased through Chase Ultimate Rewards; 3x points on dining, online grocery purchases (excluding Target, Walmart, and wholesale clubs), and select streaming services; 2x points on all other travel purchases; and 1x points on all other purchases. You can also earn 5x Ultimate Rewards points per $1 on Lyft purchases through March 31, 2025, which is incredible.
In addition, the Chase Sapphire Preferred card has an awesome 10% points bonus after every card anniversary, making your earnings increase by another 10%.
Remember, we value Ultimate Rewards points at around 2 cents each, which means that on your 2.1x travel and 3.1x dining purchases, you’d earn a 4.2% to 6.2% return on spending. On Lyft purchases and Chase Ultimate Rewards travel that earn 5.1x points after the 10% anniversary bonus, you’d earn a whopping 10.2% return on your spending!
The Chase Sapphire Preferred card also offers a complimentary DoorDash DashPass subscription. If activated by December 31, 2023, the subscription is active through December 31, 2024. If activated during the 2024 calendar year, the subscription will be valid for 1 year from the date of activation.
There are no foreign transaction fees, and you’ll have the ability to flexibly redeem your points with transfer partners like United MileagePlus and World of Hyatt.
But the cherry on top is the awesome travel coverage you can access with this card, including trip delay insurance, trip cancellation and interruption insurance, baggage delay insurance, lost luggage insurance, travel accident insurance, and primary rental car insurance.
Lastly, the Chase Sapphire Preferred card offers essential purchase protection, extended warranty protection, and zero fraud liability to round out the main benefits.
Runner-up: Capital One Venture Rewards Credit Card
Capital One’s well-known travel rewards credit card, the CapOne Venture card, draws plenty of comparisons to the Chase Sapphire Preferred card. But in reality, the 2 cards vary significantly.
The CapOne Venture card is similar to the Chase Sapphire Preferred card in the sense that it also offers a generous welcome offer and a low annual fee. Both cards also have access to transferable rewards, albeit with 2 different rewards systems.
That’s where the similarities end, so let’s get into the CapOne Venture card’s selling points. First of all, the biggest reason why you’d want to have this card is that you don’t need to worry about bonus categories like dining or travel to earn an unlimited 2x Capital One miles on every purchase, every day. Beyond that, earn 5x miles on hotels and rental cars booked through Capital One Travel. And through May 16, 2023, you’ll also earn 5x miles on bookings through Turo.
That means all of your spending on the CapOne Venture card will consistently return around 3.6% and up to 9% per dollar.
Also, this credit card offers an application fee credit of up to $100 for Global Entry or TSA PreCheck. So if getting these memberships was on your to-do list, the CapOne Venture card can help you get it for free. Note that this card also offers 2 free visits per year to Capital One Lounges or Plaza Premium Lounges.
As with almost all of Capital One’s credit cards, this product doesn’t have foreign transaction fees.
You’ll find numerous travel insurance benefits available, including secondary car rental coverage, travel assistance, lost luggage coverage, roadside dispatch, and more.
The extended warranty, purchase security, and zero fraud liability are standard perks that many credit cards have, but are still worth pointing out as benefits.
Bottom Line: The Chase Sapphire Preferred card offers better bonus categories, transfer partnerships, more value in statement credits, and superior travel perks like primary rental car coverage. The CapOne Venture card offers straightforward rewards earning on all purchases, a Global Entry/TSA PreCheck application fee credit of up to $100, and decent travel insurance. The Chase Sapphire Preferred is the clear winner in this showdown. Check out our detailed comparison for more insight.
Best Overall Business Credit Card
You could be earning up to 3x points for your small business’s shipping expenses. Image Credit: Sushiman via Shutterstock
Credit cards for small businesses are almost in a totally different realm compared to consumer credit cards.
This shouldn’t be terribly surprising because a business often spends a lot more money on a lot of other expenses than a consumer probably would.
With business expenses, you may make a lot of purchases on advertising, office supplies, and more.
So in this next section, we’ll show you the 2 best business credit cards available.
Winner: Ink Business Preferred® Credit Card
The Ink Business Preferred card is colloquially known as the king of business credit cards. And it’s easy to see why: the bonus categories, sign-up bonus, and other perks are out of this world.
The Ink Business Preferred card offers an incredible welcome offer, worth upwards of around $2,000! And once you’ve pocketed this bonus, you’ll pivot your focus to the bonus categories (there are a ton).
You can earn up to 3x Ultimate Rewards points on the first $150,000 in combined purchases made each account anniversary year on the following categories:
- Internet, cable, and phone services
- Shipping expenses
- Travel
- Ads purchased with search engines or social media sites
You can also earn 5x points on Lyft purchases through March 31, 2025.
One of the exceptional benefits of this card worth pointing out is its cell phone insurance. If you charge your (and your employees’) cell phone bills to this card, you are eligible for coverage if you break or damage your cell phone or if it’s stolen.
This insurance covers $1,000 per claim with a $100 deductible and a maximum of 3 claims per 12-month period, meaning up to $2,700 in value every year.
The benefits don’t end there because you get access to superb travel protections (similar to the Chase Sapphire Preferred card), including trip interruption and cancellation insurance, trip delay insurance, baggage insurance, baggage delay protection, travel accident insurance, and primary rental car coverage when renting for business.
There are no foreign transaction fees, and this card affords you purchase protection, extended warranty protection, zero liability, fraud protection, and more.
Runner-up: Ink Business Unlimited® Credit Card
The Ink Business Unlimited card is our runner-up because this credit card actually out-performs Capital One’s flagship business credit card — Capital One Spark Miles for Business — despite being a no-annual-fee card.
Specifically, the Ink Business Unlimited card offers a generous welcome offer, which is unusual for a card without an annual fee.
After that, you’ll earn 1.5% cash-back on all your purchases that is convertible to Ultimate Rewards points if you have a credit card like the Ink Business Preferred card or the Chase Sapphire Preferred card. Plus, earn 5% cash-back on Lyft purchases through March 31, 2025.
If you convert your Ultimate Rewards points, your 1.5% or 5% cash-back is equal to 1.5x or 5x Ultimate Rewards points, respectively.
Additionally, you’ll enjoy a 0% introductory APR benefit as shown in the table above that could be worth hundreds or even thousands of dollars in saved interest fees.
All employee cards have no additional fees, and you’ll enjoy primary rental car coverage, travel and emergency assistance services, roadside dispatch, purchase protection, extended warranty protection, zero liability fraud protection, and more.
To be clear, the CapOne Spark Miles card has access to transfer partners by itself, while the Ink Business Unlimited card requires an Ultimate Rewards credit card to transfer points to travel partners. Also, the CapOne Spark Miles card has no foreign transaction fees, while the Ink Business Unlimited’s foreign transaction fee is 3%.
But unless you’re planning on making a lot of foreign purchases, the Ink Business Unlimited card is the better choice, even compared to the CapOne Spark Miles card.
Hot Tip: Can’t choose between our Chase business favorites? See how they compare head-to-head in our article: Ink Business Preferred card vs. Ink Business Unlimited card.
Best Premium Travel Rewards Credit Card
So if you’re a frequent traveler and have enough expenses to make the most of the rewards overall, you should be looking for the highest-tier credit card.
You might be charged a larger annual fee up-front, but by making the most of the enhanced bonus categories, you’ll actually end up ahead in terms of value earned from credit card spending.
So without further ado, let’s get into our best premium travel rewards credit card.
Hot Tip: For a full comparison of our 2 contenders, check out our comparison guide: Capital One Venture X Rewards Credit Card vs. Chase Sapphire Reserve®.
Winner: Chase Sapphire Reserve®
The Chase Sapphire Reserve card is the winner in the premium category.
The card comes with a sizable welcome offer, but the real selling points come from the accrual structure and the stellar travel benefits. This credit card also comes with up to $300 annual travel credit (renewed after each card anniversary).
You’ll earn:
- 10x total points per $1 on hotels and car rentals when you purchase travel through Chase Ultimate Rewards (after the $300 is spent on travel purchases annually)
- 10x points per $1 spent on Lyft purchases through March 31, 2025
- 5x total points per $1 on flights when you purchase travel through Chase Ultimate Rewards (after the $300 is spent on travel purchases annually)
- 3x points per $1 on other travel and dining
- 1x points per $1 spent on all other purchases
As far as other benefits go, you’ll get a complimentary Priority Pass Select membership, a TSA PreCheck/Global Entry application fee credit, a DoorDash DashPass subscription (activate by December 31, 2024), access to the Chase Luxury Hotel and Resort Collection, and so much more.
You’ll get rental car benefits, including elite status with National (Emerald Club Executive Level) and Avis (Preferred), discounts, and more.
But the Chase Sapphire Reserve card offers the best travel coverage of any credit card out there, including primary rental car insurance for up to $75,000 for car rentals 31 days or shorter, trip cancellation and interruption insurance, baggage delay and lost luggage insurance, and roadside assistance.
To round out the major benefits, the Chase Sapphire Reserve comes with purchase protection, extended warranty protection, and zero fraud liability protection.
Runner-up: Capital One Venture X Rewards Credit Card
Capital One’s new high-end credit card is the CapOne Venture X card. It currently has an elevated welcome offer and earns up to 10x miles as follows:
- 10x miles on hotels and rental cars booked through Capital One Travel
- 10x miles on Turo bookings through May 16, 2023
- 5x miles on flights booked through Capital One Travel
- 2x miles on all other purchases
The card has an annual travel credit of up to $300 on bookings through Capital One Travel, plus an anniversary bonus of 10,000 miles every year, starting on your first anniversary.
Also, cardholders with the CapOne Venture X card enjoy lounge access, including unlimited free visits to Capital One Lounges (2 free guests per visit, $45 per additional guest after that) and Plaza Premium Lounges, which is a huge plus. Of course, you’re entitled to a complimentary Priority Pass Select membership, too. The Global Entry/TSA PreCheck application fee credit of up to $100 is a given, as well.
Ultimately, you’ll also be entitled to cell phone protection insurance, no foreign transaction fees, up to 4 authorized users for no additional annual fee, and access to insider experiences through Capital One Premier Access.
Hot Tip: Cardholders of the CapOne Venture X card, CapOne Venture card, and Capital One VentureOne Rewards Credit Card can enjoy exclusive experiences and up to $300 in discounts towards a Gravity Haus membership. The club caters to adventurers who are interested in health and wellness and those who enjoy the outdoors.
Best Cash-back Credit Card
If you’re looking for the best cash-back credit card, perhaps because you don’t travel all that often or if you just believe “cash is king,” then don’t worry!
In this next section, we’ll identify the best cash-back credit cards that Capital One and Chase offer.
Winner: Capital One Savor Cash Rewards Credit Card
The CapOne Savor card is one of the most tempting cash-back credit cards out there. While there are many cash-back credit cards that have come and gone, this awesome product offers up to 8% cash-back with no caps.
You’ll start off with a 1-time cash bonus. Then, you will earn according to the following structure:
- 8% cash-back on Capital One Entertainment purchases
- 8% cash-back on tickets at Vivid Seats
- 5% cash-back on hotels and rental cars booked through Capital One Travel
- 4% cash-back on dining, entertainment, and popular streaming services
- 3% cash-back at grocery stores
- 1% cash-back on all other purchases
Impressively, this credit card has no rewards caps. Other perks include roadside assistance, secondary car rental coverage, roadside assistance, purchase protection, travel accident insurance, price protection, extended warranty, and zero liability fraud protection.
There are no foreign transaction fees and no authorized user fees.
Runner-up: Chase Freedom Unlimited®
The Freedom Unlimited card is one of the most popular credit cards from Chase. This cash-back credit card easily becomes the runner-up in this category, with the potential to earn you some lucrative rewards.
When you apply for this card, you’ll usually spot a decent welcome offer. Plus, enjoy a 0% introductory APR as detailed in the table above.
As an introductory offer, you’ll earn an additional 1.5% cash-back on everything you buy on up to $20,000 spent in the first year. This means you’ll earn 6.5% cash-back on travel purchased through Chase Ultimate Rewards, 6.5% cash-back on Lyft purchases (through March 31, 2025), 4.5% cash-back on drugstore purchases and dining at restaurants (including takeout and eligible delivery service), and 3% on all other purchases — again, on up to $20,000 spent in the first year.
After your first year or $20,000 spent, you earn 5% cash-back on Chase travel purchased through Ultimate Rewards, 5% cash-back on Lyft purchases (through March 31, 2025), 3% cash-back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash-back on all other purchases.
The Freedom Unlimited card offers secondary rental car coverage, purchase protection, extended warranty protection, and zero liability fraud protection.
If you hold this card and an Ultimate Rewards credit card such as the Chase Sapphire Preferred card, you have the ability to convert your cash-back to Ultimate Rewards points.
Best No-Annual-Fee Credit Card
Chase and Capital One compete fiercely for various credit card types, and no-annual-fee credit cards are no exception. Indeed, there’s a very clear winner for the best no-annual-fee credit card.
Let’s talk about it!
Winner: Chase Freedom Flex℠
A new entrant to the credit card scene, the Freedom Flex card is making quite a splash and is our winner for the best no-annual-fee credit card by quite a wide margin.
Why? The card features a great welcome offer, ongoing earning categories up to 5% cash-back, and excellent travel benefits.
This credit card starts with a nice welcome offer for newly-approved cardholders meeting certain requirements within their first 3 months.
Here’s how the Freedom Flex card earns cash-back:
- 5% cash-back per $1 spent on quarterly rotating bonus categories on up to $1,500 in spending (past categories include gas, groceries, warehouse clubs, Amazon, and PayPal)
- 5% cash-back per $1 spent on Lyft purchases (through March 31, 2025)
- 5% cash-back per $1 spent on purchases made through the Chase Ultimate Rewards travel portal
- 3% cash-back per $1 spent on all dining purchases, including takeout and eligible delivery services
- 3% cash-back per $1 spent at drugstores
- 1% cash-back per $1 spent everywhere else
Basically, if you pay attention to these quarterly rotating bonus categories, or spend a lot of money on travel, dining, or drugstores, you’ll come out way ahead!
If you like ordering food delivery, this card offers a complimentary 3-month subscription to DoorDash DashPass (when activated by December 31, 2024), and the ability to renew it at 50% off for another 9 months after the initial 3-month period.
The Freedom Flex card also has an introductory 0% APR benefit, cell phone protection ($800 per claim and $1,000 per year with a maximum of 2 claims in a 12-month period and a $50 deductible per claim), secondary rental car insurance, trip cancellation and interruption insurance, purchase protection, extended warranty protection, and more.
Runner-up: Capital One VentureOne Rewards Credit Card
Our runner-up credit card is the CapOne VentureOne card because of its simple, straightforward earning structure.
As the no-annual-fee version of the CapOne Venture card, when you consider the benefits you get and the ability to access Capital One Miles without paying an annual fee, you’ll quickly notice that it’s a worthwhile option you should look at.
When you sign up for the card, you can earn a modest welcome offer. You’ll also enjoy a great 0% intro APR perk on purchases.
Beyond that, this card earns an unlimited 1.25x Capital One miles on every purchase, every day. No need to worry about rotating or bonus categories!
The miles you earn never expire for the life of the account, and you can redeem them for travel when you want (with no blackout dates) and fly any airline or stay at any hotel, anytime.
The CapOne VentureOne card offers secondary car rental coverage, lost luggage coverage, roadside assistance, travel assistance services, purchase security, and extended warranty.
This card has no foreign transaction fees and no fees for authorized users.
Final Thoughts
We are huge fans of Capital One and Chase credit cards. Whether you’re looking for cash-back or luxury travel rewards, both of these banks have products that can fit your needs.
In general, Chase focuses on those who want to really maximize rewards, whether it’s with its Ultimate Rewards program or with cash-back on specific categories that may rotate over time.
On the other hand, Capital One loves offering extra miles on all purchases without too many bonus categories. Capital One also focuses on low-annual-fee credit cards and cash-back rewards, but it does have a great transferable rewards program in Capital One Miles.
We hope you found this complete guide comparing Capital One and Chase credit cards useful! For even more information, check out our comparison of Chase and Amex cards and our comparison of Chase and Bank of America cards.
The information regarding the Capital One Spark Miles for Business, Capital One Venture Rewards Credit Card, Capital One Venture X Rewards Credit Card, Capital One Savor Rewards Credit Card, Capital One VentureOne Rewards Credit Card, Chase Freedom® card, and Capital One Quicksilver Cash Rewards Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
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