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The Freedom card offers a set of 5% cash back categories that change throughout the year, while the Venture Rewards is a travel card, providing airline miles for every dollar spent.
Both of these cards can be pretty valuable, but you’ll want to use them in different ways. Read on to see if one of them might be right for your wallet.
Here are the current and recent 5% cash back bonus categories:
|Quarter||2019 Categories||2020 Categories|
|January – March||
|April – June||
|July – September||
|October – December||
Take note that you’ll need to log in to your account online to activate your 5% rewards categories (except for the Lyft category).
As you can see, the Venture Rewards card is much simpler, without the rotating categories of the Freedom card.
The right card for you will depend on your spending habits. Do you make a lot of purchases that fit into the Freedom card’s 5% cash back categories? Or do you travel often, meaning you could use the 2 miles for every purchase to pay for travel expenses?
These are two different types of cards, one for earning cash back on a variety of purchases and the other to help pay for travel, so keep in mind that you’ll get the most out of them if you use them as they were intended.
You could even use these cards in combination: use the Freedom card whenever you can make purchases eligible for the 5% cash back, and use the Venture Rewards card for every other purchase. Having several credit cards isn’t bad for your credit; learn more about using multiple credit cards.
These cards offer some of the same additional benefits. Here are a few of the best that each card offers.
A free DoorDash membership (DashPass) for three months, and then a 50% discount for the next nine months; DashPass provides free delivery and reduced service fees on orders over $12.
Purchases are covered for 120 days against theft or damage, up to $500 per claim and $50,000 per account.
Eligible warranties of 3 years or less can be extended by up to an additional year.
Provides a number of emergency services, 24/7. Services include sending emergency messages, providing medical and legal referrals, ticket and document location, and translation services.
You will be reimbursed up to $1,500 per person and $6,000 per trip for your pre-paid, non-refundable passenger fares, if your trip is canceled or cut short by sickness, severe weather and other covered situations.
Assistance, such as a locksmith, tire change, or towing service, is provided in a roadside emergency for $59.95 per service call. (Additional fees may apply.)
Collision and theft damage is covered on most cars in the U.S. and abroad, provided that the cardholder purchases the rental with their card and declines the rental company’s collision insurance. Personal insurance takes precedence over the coverage provided through the Auto Rental Collision Damage Waiver.
A 24/7 personal assistant to help in a variety of non-emergency tasks.
Pick your monthly due date.
Get benefits at over 900 hotel properties.
Special dining and wine experiences.
Access to popular sporting events and premiere golf benefits at Pebble Beach Resorts®.
Discounts and special offers at premium retailers, from jewelry to apparel and electronics.
Provides coverage against lost or stolen items within 90 days from the date of purchase.
Extends a manufacturer’s warranty at no charge for up to 1 year on warranties of 3 years or less.
Provides help with travel emergencies, including emergency card replacement or cash advances.
Covers you and your family in the case of physical accidents.
Assistance with services such as towing, changing a flat, or boosting a battery in case of emergency.
Provides coverage against theft and collision, as long as the car rental company’s own insurance is declined.
If checked or carry-on bags are lost or damaged, provides reimbursement up to $3,000 per passenger.
Here, you can see that the Venture Rewards card offers a better set of benefits.
They both contain some solid mainstays of typical credit card benefits (purchase protection, auto rental coverage, etc.) but the Venture Rewards also offers the Visa Signature Concierge service, which can come in very valuable when you’re pressed for time, having trouble making arrangements, or can’t find what you need.
The extra perks like invitations to interesting events, discounts on travel and dining, and access to special experiences make the Venture card a real winner in this section.
Here’s a side-by-side comparison of the benefits offered by each card:
|Chase Freedom||Capital One Venture Rewards|
|Card||Annual Fee||Purchase APR||Balance Transfer APR||Cash Advance APR||Foreign Transaction Fee|
|Chase Freedom||$0||0% Intro APR on Purchases for 15 months, then 14.99% - 23.74% Variable||14.99% - 23.74% Variable||24.99% Variable||3% of each transaction in U.S. dollars|
|Venture Rewards||$95||17.24% - 24.49% Variable||17.24% - 24.49% Variable||24.49% Variable||None|
|Card||Penalty APR||Late Fee||Returned Payment Fee|
|Chase Freedom||None||Up to $39||Up to $39|
|Venture Rewards||None||Up to $39||None|
As you can see, these cards are similar in some ways, but there are also some important differences.
You’ll never have to worry about an annual fee with the Freedom card, and the 15-month introductory interest rate can be great for making big-but-responsible purchases on a budget. The interest rates are about the same after the introductory period is over.
On the other hand, the Venture Rewards card has no foreign transaction fees, making it a contender if you need to travel outside the country.
Think about your shopping habits. Do you spend a lot of money in the 5% categories of the Freedom card? If you do, you stand to get a pretty sizable discount as you use the card throughout the year. If you don’t shop at those types of retailers often, the 1% on other purchases won’t be very valuable.
The Venture Rewards card is designed for people who travel somewhat frequently. If you do, you can end up getting some sizable discounts if you use your Venture Rewards card for most of the purchases you make, including travel expenses. The lack of a foreign transaction fee makes this a great card to bring out of the country, and remember to keep an eye on the many extra benefits so you can make use of them whenever possible (some of these could save you a nice chunk of cash in the right situation).
Or, if you travel often and are also looking for another credit card, consider using both cards. Just use the Freedom card whenever you’ll get the 5% cash back, and use the Venture Rewards for every other purchase.
Want to apply for or learn more about one of these cards? Just click the card’s name below.
Not the cards for you? Click here to learn more about Reward Credit Cards and see our picks for the best cards!
If you use one of these credit cards, how do you like it? Leave your own review of the Chase Freedom card or the Capital One Venture Rewards below, we’d love to hear from you!
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The information related to Capital One® Venture® Rewards Credit Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.
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