The Chase Freedom® vs The Capital One® Venture® Rewards Credit Card

Brendan Harkness

Brendan Harkness | Versus

Jul 13, 2016 | Updated Aug 05, 2016

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The Chase Freedom® and the Capital One® Venture® Rewards are both popular rewards credit cards, but the rewards they offer are very different.

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.

Chase Freedom®

For People with
Good Credit

  • Annual Fee: $0
  • Interest Rate: 14.24%-23.24% *Variable
Quick Card Facts
  • Named a Best Card for Cash Back by MONEY® Magazine
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • Earn a $25 Bonus after you add your first authorized user and make a purchase within this same 3-month period
  • 0% Intro APR for 15 months on purchases and balance transfers. After the intro period, a variable APR of 13.99-22.99%
  • Unlimited 1% Cash Back on every purchase
  • 5% Total Cash Back on up to $1,500 in combined purchases in bonus categories each quarter
  • You'll enjoy new 5% categories every 3 months like Gas stations, Restaurants and Amazon.com. It's free and easy to activate your bonus each quarter!
  • No annual fee and rewards never expire as long as your account is open

The information for Chase Freedom® has been collected independently by Credit Card Insider. The card details on this page have not been reviewed or provided by the card issuer.

Capital One® Venture® Rewards Credit Card

For People with
Good Credit

  • Annual Fee: $59 - Waived first year
  • Interest Rate: 13.24%, 18.24% or 23.24% *Variable
Quick Card Facts
  • Enjoy a one-time bonus of 40,000 miles once you spend $3,000 on purchases within the first 3 months, equal to $400 in travel
  • Earn unlimited 2X miles per dollar on every purchase, every day
  • Fly any airline, stay at any hotel, anytime
  • Travel when you want with no blackout dates
  • Miles don't expire and there's no limit to how many you can earn
  • No foreign transaction fees
  • No annual fee for the first year; $59 after that
  • 100% free Capital One® Credit Wise - see your monthly credit score anytime and get automatic alerts

The Rewards

Chase Freedom

  • 5% cash back in different spending categories throughout the year, according to the calendar below (up to $1,500 in purchases per quarter)
  • 1% cash back on all other purchases
  • $150 signup bonus for spending $500 in 3 months
  • $25 signup bonus for adding an authorized user and making a purchase in 3 months
  • Extra discounts and deals through the Chase Ultimate Rewards shopping portal
Quarter 5% Cash Back Spending Category
January – March Gas Stations, Local Commuter Transportation
April – June Grocery Stores (not including Walmart® and Target®) and Wholesale Clubs
July – September Restaurants and Wholesale Clubs
October – December Holiday Shopping and Wholesale Clubs

Take note that you’ll need to log in to your account online to activate your 5% rewards category.

Capital One Venture Rewards

  • 2x miles per dollar on all purchases
  • 40,000 bonus miles for spending $3,000 in purchases in the first 3 months

The Verdict

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.

The Benefits

These cards offer some of the same additional benefits. Here are a few of the best that each card offers.

Chase Freedom

Shopping

  • Purchase Protection

    Purchases are covered for 120 days against theft or damage, up to $500 per claim and $50,000 per account.

  • Price Protection

    If a purchased item is found being advertised for a lesser price within 90 days, reimbursement may be provided up to $500; limited to $2,500 a year per account.

  • Extended Warranty Protection

    Eligible warranties of 3 years or less can be extended by up to an additional year.

  • Return Protection

    If a merchant won’t take back an item within the first 90 days, reimbursement will be provided to refund eligible items, up to $250 per item; limited to $1,000 a year per account.

Travel

  • Travel and Emergency Assistance Services

    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.

  • Travel Accident Insurance

    Cardholders are eligible for accidental death or dismemberment coverage of up to $250,000 on transportation via air, train, bus or cruise transportation purchased with this card.

  • Trip Cancellation/Trip Interruption Insurance

    You will be reimbursed up to $5,000 per trip for pre-paid, non-refundable travel expenses, including passenger fares, tours, and hotels if your trip is shortened due to sickness, weather, or other eligible conditions.

  • Lost Luggage Reimbursement

    Lost or damaged checked or carry-on bags are covered for up to $3,000 per passenger, for cardholders and their immediate family members.

  • Roadside Dispatch/Roadside Assistance

    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.)

  • Auto Rental Collision Damage Waiver

    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.

Capital One Venture Rewards

Perks

  • Visa Signature Concierge Service

    A 24/7 personal assistant to help in a variety of non-emergency tasks.

  • Personalized Payment

    Pick your monthly due date.

  • Luxury Hotels

    Get benefits at over 900 hotel properties.

  • Movie Discounts

    Get discounts at fandango.com/visasignature

  • Fine Wine & Food

    Special dining and wine experiences.

  • Sports Experiences

    Access to popular sporting events and premiere golf benefits at Pebble Beach Resorts®.

  • Shopping Discounts

    Discounts and special offers at premium retailers, from jewelry to apparel and electronics.

Shopping

  • Purchase Protection

    Provides coverage against lost or stolen items within 90 days from the date of purchase.

  • Extended Warranty Protection

    Extends a manufacturer’s warranty at no charge for up to 1 year on warranties of 3 years or less.

Travel

  • Travel Assistance Services

    Provides help with travel emergencies, including emergency card replacement or cash advances.

  • Travel Accident Insurance

    Covers you and your family in the case of physical accidents.

  • Roadside Assistance Hotline

    Assistance with services such as towing, changing a flat, or boosting a battery in case of emergency.

  • Auto Rental Collision Damage Waiver

    Provides coverage against theft and collision, as long as the car rental company’s own insurance is declined.

  • Lost Luggage Reimbursement

    If checked or carry-on bags are lost or damaged, provides reimbursement up to $3,000 per passenger.

The Verdict

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, travel accident insurance, 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

Perks

  • Visa Signature Concierge
  • Personalized Payment
  • Luxury Hotels
  • Movie Discounts
  • Fine Wine & Food
  • Sports Experiences
  • Shopping Discounts

Account

  • Account Alerts
  • Mobile & Tablet Apps
  • Financial Tools and Tips
  • Capital One WalletSM
  • Capital One Credit Wise
  • Capital One Second LookSM

Security

  • Zero Liability Protection
  •  Zero Liability Protection

Shopping

  • Purchase Protection
  • Price Protection
  • Extended Warranty Protection
  • Return Protection
  • Purchase Protection
  • Extended Warranty Protection

Travel

  • Travel and Emergency Assistance
  • Travel Accident Insurance
  • Trip Cancellation / Trip Interruption Insurance
  • Trip Delay Reimbursement
  • Lost Luggage Reimbursement
  • Roadside Dispatch Service
  • Auto Rental Collision Damage Waiver
  • Travel Assistance Services
  • Travel Accident Insurance
  • Roadside Assistance Hotline
  • Auto Rental Collision Damage Waiver
  • Lost Luggage Reimbursement

The Costs & Fees

Card Annual Fee Intro APR for Purchases Regular Purchase and Balance Transfer APR Cash Advance APR Foreign Transaction Fee
Chase Freedom $0 0% for 15 months 14.24%-23.24% *Variable 25.24% *Variable 3%
Venture Rewards $59 - Waived first year None 13.24%, 18.24% or 23.24% *Variable 23.24% *Variable None
Card Penalty APR Late Fee Returned Payment Fee
Chase Freedom See Terms Up to $35 Up to $35
Venture Rewards See Terms Up to $35 See Terms

The Verdict

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 balance transfer or foreign transaction fees, making it a contender if you need to transfer a large account balance or travel outside the country.

The Bottom Line

The Chase Freedom and the Capital One Venture Rewards are both valuable rewards credit cards, and if you’re trying to pick between the two you should take a look at their rewards.

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.

Chase Freedom®

For People with
Good Credit

  • Annual Fee: $0
  • Interest Rate: 14.24%-23.24% *Variable
Quick Card Facts
  • Named a Best Card for Cash Back by MONEY® Magazine
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • Earn a $25 Bonus after you add your first authorized user and make a purchase within this same 3-month period
  • 0% Intro APR for 15 months on purchases and balance transfers. After the intro period, a variable APR of 13.99-22.99%
  • Unlimited 1% Cash Back on every purchase
  • 5% Total Cash Back on up to $1,500 in combined purchases in bonus categories each quarter
  • You'll enjoy new 5% categories every 3 months like Gas stations, Restaurants and Amazon.com. It's free and easy to activate your bonus each quarter!
  • No annual fee and rewards never expire as long as your account is open

The information for Chase Freedom® has been collected independently by Credit Card Insider. The card details on this page have not been reviewed or provided by the card issuer.

Capital One® Venture® Rewards Credit Card

For People with
Good Credit

  • Annual Fee: $59 - Waived first year
  • Interest Rate: 13.24%, 18.24% or 23.24% *Variable
Quick Card Facts
  • Enjoy a one-time bonus of 40,000 miles once you spend $3,000 on purchases within the first 3 months, equal to $400 in travel
  • Earn unlimited 2X miles per dollar on every purchase, every day
  • Fly any airline, stay at any hotel, anytime
  • Travel when you want with no blackout dates
  • Miles don't expire and there's no limit to how many you can earn
  • No foreign transaction fees
  • No annual fee for the first year; $59 after that
  • 100% free Capital One® Credit Wise - see your monthly credit score anytime and get automatic alerts
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, we’d love to hear from you!

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