Chase Sapphire Preferred vs. Capital One Venture: Which $95 annual fee travel card is better?

If you're on the hunt for a travel credit card and don't want to pay a high annual fee, you've likely come across the Chase Sapphire Preferred® Card (see rates and fees) and Capital One Venture Rewards Credit Card.

These popular starter rewards cards have low $95 annual fees, and both come with an array of benefits. CNBC Select breaks down the features of each card so that you can choose the right one for your needs.

The Chase Sapphire Preferred and Capital One Venture Rewards Credit Card both come with a modest $95 annual fee. That's on the lower side, considering some travel credit cards like the Chase Sapphire Reserve® (see rates and fees) have fees up to $795 or more.

It's not difficult to justify either of these annual fees with the benefits and rewards you can take advantage of. For instance, you can cover the Chase Sapphire Preferred's annual fee by spending $4,750 on travel each year, since those purchases earn at least 2X points per dollar spent. You'll also earn 5X points on travel booked through Chase Travel℠.

With the Capital One Venture, you can recoup the annual fee by spending $4,750 on everyday purchases that earn 2X miles — or even faster if you book hotels and rental cars with Capital One Travel, which earn 5X miles per dollar spent.

With a new Chase Sapphire Preferred card, you can earn 75,000 bonus points after you spend $5,000 on purchases in the first three months from account opening. That's at least $750 in value when you redeem through Chase Travel℠ and potentially more when you transfer your points to one of Chase's airline and hotel partners.

The Capital One Venture offers a similar bonus: earn 75,000 miles after you spend $4,000 on purchases within the first three months of account opening, equal to $750 in travel. Like Chase, Capital One also has a long list of airline and hotel transfer partners that can increase your rewards' value.

The Chase Sapphire Preferred offers an array of bonus spending categories, including:

• 5X points on travel purchased through Chase Travel℠
• 3X points on dining (including eligible delivery services, takeout and dining out)
• 3X points on online grocery purchases (excluding Walmart®, Target® and wholesale clubs),
• 3X points on select streaming services
• 2X points on all other travel purchases
• 1X points on all other purchases

The Capital One Venture's rewards are a bit more straightforward. You'll earn:

• 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
• 2X miles on all other purchases

Additionally, the Sapphire Preferred provides cardholders with an anniversary bonus. The anniversary bonus is equal to 10% of your total purchases made the previous year, so if you spent $15,000 on purchases, you'll get 1,500 bonus points.

Rewards earned with both cards can be redeemed similarly, including for issuer portal travel, transfer partner travel, gift cards, cash back and more.

With the Chase Sapphire Preferred, you'll typically get 1 cent per point in value for most redemptions (except for Amazon purchases, which are worth less). Chase also offers a unique Points Boost feature that can boost the value of your Sapphire Preferred points (when used to book select travel through Chase) up to 1.5X.

To receive the best value for your Chase Ultimate Rewards® points, you'll want to consider the transfer partners. You can transfer Chase points to these loyalty programs at a 1:1 ratio (unless noted otherwise):

The Capital One Venture Rewards doesn't offer bonus value when you redeem miles through Capital One Travel. However, you can easily redeem Capital One miles for 1 cent each toward any eligible travel purchase. Simply use your Venture card to pay for travel, and you'll have 90 days to erase the charge with miles. Note, the card offers less value for gift card and cash back redemptions (typically 0.5 to 0.8 cents per point).

You can transfer Capital One miles to a long list of hotel and airline loyalty programs, including:

With either card, you can benefit from:

• Ability to transfer points to participating frequent traveler programs
• No foreign transaction fees
• 24-hour travel assistance services
• Travel and purchase insurance benefits
• Exclusive access to culinary, music and sports events

The Chase Sapphire Preferred's benefits include:

• Up to a $50 annual Chase Travel Hotel Credit
• Complimentary access to DashPass, which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by Dec. 31, 2027.
• Baggage delay insurance
• Auto rental collision damage waiver
• Trip delay reimbursement
• Travel and emergency assistance services
• Purchase protection
• Extended warranty protection

Capital One Venture cardholders enjoy these added perks:

• Up to a $120 credit for a Global Entry or TSA PreCheck application fee every four years
• Travel accident insurance*
• Auto rental collision damage waiver*
• Extended warranty*

*Terms, conditions and exclusions apply. Refer to your Guide to Benefits for more details.

The Chase Sapphire Preferred and Capital One Venture are two competitive options if you're looking to take advantage of travel benefits. At the end of the day, choosing the best card depends on your individual preferences. Consider the following differences when making your choice:

• Rewards: While the Sapphire Preferred has more bonus categories, the Venture Rewards earns at least 2X miles on everything. Decide whether you want the simplicity of flat-rate rewards or the option to maximize spending.
• Benefits: If you care about travel insurance protections, the Sapphire Preferred should be your pick. But if you're more interested in a trusted traveler credit, the Venture could make sense.
• Transfer partners: You'll want to consider the airline and hotel programs partnered with Chase and Capital One. For example, which do you typically fly or stay with? Which airlines operate out of your nearest airport?
• Other cards in your wallet: Take into account any other points- or miles-earning cards in your wallet. If you already have the Chase Freedom Unlimited® (see rates and fees), for example, you may want to opt for the Sapphire Preferred for the ability to pool rewards.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.

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.