The Chase Freedom Unlimited® and Capital One Venture Rewards Credit Card are excellent cards that let you earn rewards on everyday expenses.
The Chase Freedom Unlimited sets itself apart with 1.5% back on non-bonus purchases, plus higher rewards in select categories including dining and travel. This flexible rewards card becomes even more valuable when paired with a premium Chase card, allowing you to transfer your rewards to travel partners.
The Venture Rewards offers 2x miles on every purchase and flexible redemption options through transfer partners or travel statement credits. This card shines with its straightforward rewards structure and useful travel benefits, making it a solid choice for both beginners and experienced travelers.
In this article, we’ll highlight the differences between the two cards and help you choose which card is best for you.
Full Reviews: Chase Freedom Unlimited® and Capital One Venture Rewards Credit Card.
Overview: Chase Freedom Unlimited vs Capital One Venture Rewards
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- 5% Cash Back on Travel Purchased Via Chase
- 3% Cash Back at Restaurants and Drug Stores
- 1.5% Cash Back on All Other Purchases
- 0% Intro APR for 15 Months (After that, a reg_apr,reg_apr_type APR.)
- Purchase Protection and Extended Warranty
- No Annual Fee
Welcome Bonuses
Chase Freedom Unlimited
The Chase Freedom Unlimited currently offers the following welcome bonus:
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Capital One Venture Rewards
The Venture Rewards currently offers the following welcome bonus: Earn 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel.
Earning Rewards
Chase Freedom Unlimited:
The Chase Freedom Unlimited earns the following rewards:
- 5% cash-back on travel purchased via the Chase Travel℠.
- 5% cash back on Lyft rides (through March 2025).
- 3% cash back on dining at restaurants, including takeout and eligible delivery services.
- 3% cash back at drugstores.
- 1.5% cash back on all other purchases.
But you can easily increase the value by 25-50% of this card’s rewards by holding a premium Chase Ultimate Rewards card, which allows you to transfer to Chase’s airline and hotel partners or cash out points towards travel with higher bonuses:
Capital One Venture Rewards
The Venture Rewards has a simple yet rewarding earning structure:
- 5 miles per dollar on hotels, vacation rentals, and rental cars booked through Capital One Travel.
- 2 miles per dollar on all other purchases with no limit on the miles you can earn.
Winner
The Venture Rewards wins with at least 2x miles on every purchase, but the Chase Freedom Unlimited is competitive if you also have a premium Chase Ultimate Rewards card to unlock transfer partners.
Card Benefits and Perks
Chase Freedom Unlimited:
The Chase Freedom Unlimited offers the following benefits:
Intro APR: 0% intro APR for 15 months from account opening on purchases and balance transfers. After that, a reg_apr,reg_apr_type APR.
120-Day Purchase Protection: Get 120 days of protection against damage, theft, and even loss of your purchases – one of the longest windows available. This premium coverage automatically applies when you pay with your card.
Extended Warranty Protection: Your purchases gain an extra year of warranty protection when bought with this card, extending manufacturer warranties of three years or less without the inflated prices of store warranty plans.
Trip Cancellation & Interruption Insurance: This protection reimburses you for non-refundable, prepaid travel expenses if you need to cancel before departure or cut your trip short due to covered situations like severe illness or weather events. Coverage activates when you pay for your trip with the card, but it’s important to note that reimbursement only applies for specific covered reasons rather than any cancellation.
Secondary Rental Car Insurance: This card provides backup protection for rental car damage or theft when you charge the full rental to your card.
Capital One Venture Rewards
The Capital One Venture offers the following benefits and perks: Global Entry / TSA PreCheck Credit: This card offers a credit for TSA PreCheck (expedited airport security) or Global Entry (expedited airport security and customs). No Foreign Transaction Fees: You’ll save money on every purchase while traveling internationally since this card doesn’t add the typical 3% surcharge that many other cards impose. Lost Luggage Reimbursement: Your checked luggage gets extra protection against loss, theft, or damage beyond the basic compensation offered by carriers when you pay for travel with this card. Extended Warranty Protection: Your purchases gain an extra year of warranty protection when bought with this card, extending manufacturer warranties of three years or less without the inflated prices of store warranty plans. Secondary Rental Car Insurance: This card provides backup protection for rental car damage or theft when you charge the full rental to your card.
Winner
Tie. The Capital One Venture previously had an edge in this category, but several key benefits, such as passes to Capital One Lounges and Hertz Five Star status, are expiring at the end of 2024.
Value of the Annual Fees
Chase Freedom Unlimited
The Chase Freedom Unlimited has no annual fee, making it a great option for earning rewards without having to pay a large annual fee.
Authorized users can be added to the card for free and can help earn rewards through their spending.
Capital One Venture Rewards
The Capital One Venture card has a $95 annual fee, which is modest compared to many premium travel cards that can charge hundreds of dollars per year.
Winner
Chase Freedom Unlimited since it doesn’t have an annual fee.
Redeeming Rewards
Chase Freedom Unlimited
To redeem the points or rewards on this Chase card, log in to your Ultimate Rewards® account, navigate to the “Earn/Use” tab on your home page, and choose the type of redemption you want. The most popular options include:
Cash Back: Redeem your points in the form of a statement credit towards your balance or receive a direct deposit into a bank account.
Gift Cards: Convert your rewards into a gift card from your preferred retailer, with gift card options starting at 500 points for $5, so that’s worth 1 cent per point.
Pay With Points: Use your points to pay for Amazon or PayPal purchases. However, we don’t really recommend this option since redemption values are typically less than 0.8 cents apiece. Amazon Gift cards would be a better option.
Travel: If you book a trip through Chase’s travel portal, you redeem your rewards at one cent per point.
Capital One Venture Rewards
When it comes to redeeming Capital One miles, you’ve got fantastic flexibility that sets this program apart from competitors. You essentially have two main paths: fixed-value redemptions or transfers to travel partners—with the latter typically delivering superior value.
The fixed-value route is straightforward. You’ll get 1 cent per mile when redeeming for travel purchases made in the last 90 days, booking new travel through Capital One, or selecting gift cards. This simplicity is perfect for travelers who spot a great cash fare or need to cover miscellaneous travel expenses that points programs typically don’t handle well.
For maximum value though, transferring to Capital One’s impressive partner lineup is your best bet. Most airline transfers occur at a favorable 1:1 ratio, effectively making your everyday spending worth double miles on cards earning 2x. The program features 15+ airline partners across all major alliances:
- Air Canada Aeroplan and Turkish Airlines for Star Alliance flights
- British Airways and Cathay Pacific for oneworld access
- Air France-KLM Flying Blue for SkyTeam travel
- Several non-alliance options like Emirates and Etihad
Hotel transfers include Wyndham Rewards and Choice Privileges at 1:1, plus Accor at a 2:1 ratio.
Some particularly valuable redemptions include Air Canada’s transcontinental business class awards from 25,000 points, Air France-KLM’s business class to Europe from 60,000 miles, and Finnair’s domestic Alaska Airlines flights for just 11,000 miles.
The real power of Capital One miles lies in their versatility—you can mix redemption styles based on what delivers better value for each trip. For inexpensive domestic flights, fixed-value redemptions often make more sense, while international premium cabins typically deliver exceptional value through transfers.
| Capital One Transfer Partners | |
AeroMexico
|
Air Canada (Aeroplan)
|
Air France (Flying Blue)
|
Avianca (LifeMiles)
|
British Airways
|
Cathay Pacific (Asia Miles)
|
Emirates
|
Etihad
|
EVA (2 to 1.5)
|
Finnair
|
Japan Airlines (2 to 1.5)
|
JetBlue (5 to 3)
|
Qantas
|
Qatar Airways
|
Singapore (KrisFlyer)
|
TAP Portugal
|
Turkish Airlines
|
Virgin Red
|
Accor (2:1)
|
Choice Hotels
|
| I Prefer Hotels (1 to 2) |
Wyndham
|
Winner
The Venture Rewards wins because it offers more redemption options. Plus, it lets you transfer your miles to several airline and hotel partners for more value.
The Verdict
Both the Freedom Unlimited and Venture Rewards are great options for earning rewards. If you already have the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or Ink Business Preferred® Credit Card, I would go with the Chase Freedom Unlimited because it earns great rewards with no annual fee.
If you don’t have any other those cards, the Venture Rewards is a good option because it earns 2x miles on everyday purchases.
Which card are you going to choose?
