Why I’m Trading My Chase Sapphire Reserve for the Capital One Venture X

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I never thought I would say this, but I am getting ready to trade my beloved Chase Sapphire Reserve® for the Capital One Venture X Rewards Credit Card. To be clear, I already applied for the Capital One Venture X Rewards Credit Card and earned the welcome bonus of 100,000 bonus miles when you spend $10,000 on purchases in the first 6 months from account opening (offer expires 3/14/22) (offer ends March 14, 2022). I’m also downgrading my Chase Sapphire Reserve® to the Chase Sapphire Preferred® Card, so I’m not removing myself from the Chase Ultimate Rewards universe completely.

That would be crazy. After all, I love the flexibility of Chase Ultimate Rewards points too, particularly when it comes to its transfer partners. My husband is also keeping his Chase Sapphire Reserve®, so we’ll just pool all our points in his account if we want to get 50% more value for our points when booking travel through the Chase Ultimate Rewards portal. 

Read more: Capital One Venture X vs Chase Sapphire Reserve: Which premium rewards credit card is best for you?

That said, I am moving some (but definitely not all) of my spending to the Capital One Venture X Rewards Credit Card, although I’ll still keep using my Chase Sapphire Preferred® Card in categories that earn more than 2x points. Specifically, that includes travel booked through Chase (which earns 5x points) and dining purchases,

online grocery

services, and select

streaming

services (which earn 3x points).

As a lifelong Chase enthusiast, this is definitely a bold maneuver that I never saw coming. However, I feel confident that I’m making the right move for my rewards game. Here’s why.

At $395 per year, the Capital One Venture X is a steal

First off, it’s worth noting that the Capital One Venture X Rewards Credit Card is considerably less expensive than the Chase Sapphire Reserve® at just $395 per year, compared to $550 for the Reserve. When you take into account the annual travel credit of $300 you get for Capital One Travel bookings and the 10,000 bonus miles you get when you renew your card, the $395 annual fee on the Capital One Venture X Rewards Credit Card is fully justified in my eyes.

Read more: The premium Capital One Venture X is actually just as affordable as the Capital One Venture — here’s why the Venture X is a better pick for most travelers

This is especially true for year one since cardholders can earn 100,000 bonus miles when you spend $10,000 on purchases in the first 6 months from account opening (offer expires 3/14/22), and score an additional vacation credit of up to $200 toward Airbnb, VRBO, and other vacation booking sites. By and large, the $395 annual fee on the Capital One Venture X Rewards Credit Card makes it a good value.

I receive better airport lounge access

One Chase Sapphire Reserve® benefit I wouldn’t want to give up is the Priority Pass Select airport lounge access I receive. Valued at $429, this membership lets me enjoy refreshments and some peace and quiet at more than 1,300 airport lounges around the globe. I actually use it all the time, and I get to avoid wasting a ton of money on airport food as a result.

Fortunately, the Capital One Venture X Rewards Credit Card comes with a complimentary Priority Pass Select membership as well (authorized users can also receive this benefit for free). In the meantime, it also offers entry into the new Capital One airport lounges, which are expanding as we speak. 

Read more: The best credit cards with free airport lounge access of 2022

I’ll be visiting the existing Capital One airport lounge at the Dallas/Fort Worth International Airport (DFW) for the first time on my way to Puerto Vallarta for spring break in a few weeks. In the meantime, a few more lounges at the Denver International Airport (DEN) and at Washington Dulles International Airport (IAD) should be open soon.

Capital One partners with a few of my favorite airlines

While this card issuer’s transfer partners weren’t that great at first due to inferior transfer ratios, Capital One improved its offerings quite a bit in late 2021. Not only does Capital One have more transfer partners now than it did in the beginning, but most of them transfer at a ratio of 1:1, which is the same as all Chase Ultimate Rewards airline and hotel partners.

Read more: How to earn, redeem, and maximize Capital One miles

This means that my most used Capital One transfer partners — Air France-KLM Flying Blue and British Airways — are both at a 1:1 ratio now. I typically transfer rewards to Air France multiple times per year, and sometimes for miles-heavy business class flights, so this scenario works perfectly for me. 

Hertz President’s Circle status actually matters to me

I actually didn’t realize this when I signed up for the Capital One Venture X Rewards Credit Card, but being a cardholder makes you eligible for Hertz President’s Circle status. This is the highest tier of status from Hertz, which I happen to rent cars from a few times per year.

Read more: The best credit cards with primary car rental insurance

With Hertz President’s Circle status, you get perks like guaranteed upgrades and the widest selection of cars. More importantly, you get to skip the rental car counter and head straight to the lot at more than 50 airports. 

Earning 2x miles on everyday purchases makes a difference

Last but not least, I am pretty happy about earning more than 1x points (or miles) on regular spending. While I usually remembered to use my Chase Freedom Unlimited® to earn 1.5x points on non-bonus spending in the past, I am going to use the Capital One Venture X Rewards Credit Card to earn 2x miles on all regular purchases from now on.

Read more: Guide to the best rewards credit cards in 2022

While I love earning bonus points in any category I can, the fact remains that I charge quite a bit of miscellaneous purchases to plastic each month — things like utility bills, health insurance premiums, and stuff for my kids. Getting to earn 2x miles on regular spending and bills will help me boost my rewards haul in a hurry.

Bottom line

It took a lot for me to “venture” off into a new card program for regular spending and bills. After all, my husband and I have more credit cards from Chase than any other issuer, including the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, Chase Freedom Unlimited®, Ink Business Preferred® Credit Card, Ink Business Cash® Credit Card, and Ink Business Unlimited® Credit Card.

The fact I’ll be earning more Capital One miles is perfectly fine with me though. I like Capital One transfer partners, but I have also been happy with travel options I have found through the Capital One Travel portal. Of course, the Capital One Venture X Rewards Credit Card also lets users redeem miles at a fixed rate of 1 cent each for travel purchases made within the last 90 days. With all these options to choose from, there’s no chance of getting stuck with miles I can’t use.

Holly Johnson

Freelance Writer

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