Capital One Venture vs. Chase Freedom Credit Card

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There are a lot of credit cards out there in the world.  Some are very similar to each other.  It’s often hard to choose which one to put in that last slot in your wallet.  This post is designed to help you decide between two very worthy credit cards: the Capital One Venture Rewards card and the Chase Freedom® credit card.

They are from two very different issuing banks, but the purpose of the cards remains the same: to get you the most cashback for your purchases!  Let’s see which one reigns king in this review!

 Capital One Venture vs. Chase Freedom

 

Annual Fee

The annual fee on any credit card is a big sticking point for some potential cardholders.  So, let’s dive into the details on that!  For the Capital One Venture Rewards Credit Card, you’ll have no annual fee for the first year.  However, after the first year, you’ll be charged $59 per year to keep the card.  The Chase Freedom card, on the other hand, has no annual fees, ever.  So, this category goes to the Chase Freedom card.

 

Sign-Up Bonus

Another way credit card companies get you to sign up for their card is through their Sign Up bonus, which I believe is one of the more important aspects of any credit card.   I’d say Chase Freedom® wins this round.

 

Bonus Points

Regular spending is also where you can rack up the meat of your points earning on these cards.  For the Capital One Venture Rewards Credit Card, you’ll earn 2% back on every purchase.  There are no limits to this agreement.  The Chase Freedom card, on the other hand, collects 1% back on all purchases, but has a ‘category bonus’ that changes four times each year that can earn 5% cash back.  For example, the quarters for 2013 were:

▪   Q1 (January 1 – March 31): Gas stations, movie theaters and Starbucks stores

▪   Q2 (April 1 – June 30): Restaurants and Lowe’s home improvement stores

▪   Q3 (July 1 – September 30): Gas stations and Kohl’s

▪   Q4 (October 1 – December 31): Amazon.com, Zappos.com and select department stores

For this group, I’d say that Chase Freedom® definitely wins, since your total amount of purchases will add up to more than what you spend in these categories, most likely.

 

Using Your Points

The way you redeem your points for each credit card is a little different as well.  For the Capital One card, you simply choose the travel expense that you would like to redeem your points for, and you’re done.  The Chase Freedom card is a simple cash back card, but you can transfer your points into your Ultimate Rewards account if you’d like.  You’re stuck redeeming with Chase’s travel partners though (airlines like British Airways, Southwest, and United).

 

Conclusion

While both cards offer great benefits, the Capital One  Venture Rewards credit card is one of the best out there.  It’s low annual fee (after the first year), constant 2% cash back, and easy use of points earned makes it a champion over the Chase Freedom card.  The Freedom card, though, is a great option for those that don’t want an annual fee but would like to still earn some bonus points!

Apply Now: Chase Freedom®