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Christine ran her own business developing and managing insurance and financial services. This stoked a passion for points and miles and she now has over 2 dozen credit cards and creates in-depth, deta...
Kellie’s professional experience has led her to a deep passion for compliance, data reporting, and process improvement. Kellie’s learned the ins and outs of the points and miles world and leads UP’s c...
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There’s no doubt that Capital One and American Express have become key leaders when we look at credit card issuers. Capital One focuses on simplicity but has a card for every type of consumer, from those who have no credit or poor credit to those who have excellent credit. American Express comes through with creative earning structures, redemption options perfect for the traveler, and adds to that a collection of valuable benefits.
You won’t go wrong selecting a card from either issuer, but today we want to zero in on just 2 popular cards that have similar redemption options but have earning structures suited for different types of consumers.
While both of our featured cards earn rewards that result in good-value travel redemptions, how you’ll get to that result varies for each card, based on your spending mix.
For the Capital One Venture card, Capital One recommends aa good to excellent credit score, generally 740 or above, for qualification. However, Capital One defines excellent credit as “never have declared bankruptcy or defaulted on a loan, not been 60 days late on a credit card, loan, or medical bill, and has had a loan or credit card for $5,000 or more in the past 3 years.” If you meet these criteria, it is possible you could qualify with a credit score of 700 or above.
American Express recommends a good to excellent credit score for the Amex Gold card, meaning you may be able to qualify with a score of 670 or above.
These are just guidelines — of course, the higher your score, the better the odds are for approval.
You’ll want to be sure to check your credit report for accuracy before applying for any card and check for preapproved offers that may be already waiting for you. It’s best to utilize a risk-free option such as the CardMatch tool to find these offers as the tool does not affect your credit score with a hard inquiry and minimal information is required.
Both Capital One and Amex card offers, if available to you, can be found using the CardMatch tool.
Preapproved or prequalified offers do not guarantee card approval, only that your chances for approval are better for the selected offers shown.
Bottom Line: You should aim to have good to excellent score to qualify for the Capital One Venture card and a good to excellent score for the Amex Gold card. Check your credit report to see where you stand before applying and use the CardMatch tool to see if you have any preapproved offers waiting for you.
The Value of a Welcome Bonus
Capital One Venture Card
Amex Gold Card
There is a unique opportunity to earn a welcome bonus immediately after you’re approved for either of our featured cards. Welcome bonuses help jumpstart your earnings and in the case of these 2 popular cards, the initial rewards bonus can be very generous.
A welcome bonus is earned after meeting minimum spending requirements within a specified period of time, either within the 3 months, 6 months, or even 12 months after card approval.
The actual value you receive will depend on how you redeem your miles or points. We’ll cover more on redemption options shortly.
Bottom Line: Welcome offers, as well as the value of a welcome offer, can change periodically, so be sure to check for the most current bonus prior to applying for any card. We’ve included snapshot tables of our featured cards above that reflect current bonuses.
Earning Rewards
Earn rewards on every purchase you make with either of our featured cards. Image Credit: Pixabay via Pexels
One of the greatest benefits of holding a rewards credit card is earning valuable rewards currencies you can redeem for something of value. Both of our featured cards offer very different reward earning structures but in the end, accomplish that exact objective.
Here’s how you’ll earn rewards on the Capital One Venture card and the Amex Gold card:
Capital One Venture Card
Amex Gold Card
5 miles per dollar spent on hotels and rental cars booked through Capital One Travel
2 miles per dollar spent on every purchase
4x Membership Rewards points at U.S. supermarkets (up to $25,000 in purchases each calendar year) and restaurants
3x points on flights purchased directly with the airlines or via Amex Travel
1x points on all other purchases. Terms Apply
If your spending centers on everyday purchases at grocery stores, dining out, and on flights directly purchased with the airline (or Amex Travel), you’ll earn well on the Amex Gold card. However, you may have ongoing expenses that do not fall into those categories. If so, you may do better with the Capital One Venture card.
Additionally, you’ll want to consider annual fees. However, when you spend enough on either card to earn the initial welcome bonus, the value received in the first year more than offsets either annual fee.
Bottom Line: While each card has its own rewards earning structure, both offer flexible (and therefore valuable) rewards currencies that can be redeemed for travel and additional redemption options. The better card for you from an earnings standpoint will be the one that closely matches your spending mix.
Redeeming Rewards
You may receive the best potential value for your rewards when transferring to airline partners. Image Credit: Stephen Au
Both of our featured cards have similar redemption options, particularly when redeeming miles or points for travel. Let’s look closer at your options at redemption time in the order of the greatest potential value.
Capital One Venture Card
Amex Gold Card
Transfer Capital One miles to airline and hotel partners to redeem for award flights and hotel nights
Use miles to purchase gift cards, redeem for a statement credit against regular purchases, shop at Amazon, or redeem via PayPal (value will vary)
Transfer Membership Rewards points to airline and hotel partners to redeem for award flights and hotel nights
Redeem points for qualifying travel via Amex Travel
Use points to upgrade your flight, purchase gift cards, shop at Amazon, for Uber, and make purchases with other shopping partners (value will vary)
Redeem for statement credits at the rate of 0.6 cents per point
Receiving the best value at redemption time is one of the joys of earning rewards. We’ll get you started with how to redeem your miles and points with transfer partners in our guides on Capital One Miles transfer partners and Amex transfer partners.
Bottom Line: While it’s easy to receive 1 cent in value when redeeming rewards with either of our featured cards, the best potential value may be realized by transferring rewards to travel partners to redeem for award flights or hotel nights.
Travel Benefits and Protections
With The Hotel Collection benefits, you could receive an upgraded room and on-site property credits. Image Credit: The Hotel Collection
Travel benefits and protections can save you money, deliver peace of mind, and provide protection during your travels. Both of our featured cards travel well as there are no foreign transaction fees charged on either card (see rates & fees).
Here’s how our cards compare when we look at additional travel benefits and protections:
Capital One Venture Card
Global Entry or TSA PreCheck Fee Reimbursement — Charge the applicable fee to your card and receive up to $100 as a statement credit.
Auto Rental Insurance* – Use your card to rent an eligible vehicle and you may be covered for physical damage and theft of the vehicle
Lost Luggage Reimbursement — You may be eligible for reimbursement due to theft or misdirection
Roadside Dispatch — Pay 1 flat service fee for roadside assistance that includes basic towing, jump-start, emergency fuel, lockout service, and tire changing. Additional terms and conditions apply.
Travel Assistance Services — Receive 24/7 assistance with translation service referrals, medical and legal referrals, emergency cash, and more.
Car Rental Insurance — Pay for the entire rental with your card, decline the agency’s collision damage waiver coverage, and receive secondary coverage. The card also comes with the option to purchase Premium Protection for 1 low price that covers the entire rental period up to 42 days. Coverage prices range from $12.95 to $24.95 for the entire rental period.
Trip Delay Coverage — Receive up to $300 if your trip is delayed more than 12 hours.
Luggage Insurance — Up to $1,250 for damaged, lost, or stolen carry-ons and up to $500 for checked baggage.
Global Assist Hotline — Receive help 24/7 when traveling more than 100 miles from home.
Travel Accident Insurance — Receive up to $250,000 for accidental death or dismemberment.
The Hotel Collection Benefits — On stays of 2 nights or longer booked with your card, you’ll receive a $100 on-site property credit, an upgraded room (when available), and 2x earnings.
Shopping benefits and protections can save you money on eligible purchases and provide protection should damage or theft occur to qualifying items purchased with your card.
Benefit or Protection
Capital One Venture Card
Amex Gold Card
Purchase Protection
Eligible purchases are replaced, repaired or reimbursed for the first 90 days*
Receive up to $1,000 per item, up to $50,000 per card, in a calendar year for eligible damaged or stolen items for up to 90 days from purchase date
Extended Warranty
Purchase Security* – Eligible purchases are replaced, repaired or reimbursed for the first 90 days*
On manufacturer’s warranties of a year or less, the warranty will be extended by an equal amount of time; for manufacturer’s warranties of 1 to 5 years, the warranty will be extended for 1 additional year, up to $10,000 per covered purchase, $50,000 per eligible card
Shopping Discounts/Statement Credits
Capital One Offers offers cash-back via statement credits when clicking through to select retailers
Amex Offers provide statement credits or additional earnings on specific purchases when offers are added to your card
Up to $10 monthly in Uber Cash credits (up to a total of $120 per year); Uber Cash is a credit applicable to U.S. Uber Eats orders or ride purchases after adding the Amex Gold card to your Uber app and making an eligible purchase with your card
Note that terms apply and enrollment may be required for some Amex Gold benefits, so be sure to explore your American Express account to get the most out of the card.
Bottom Line: The Capital One Venture card and Amex Gold card come with similar travel and shopping benefits and protections. However, the Amex Gold card may have the edge with monthly dining statement credits and Uber Cash credits, if you can utilize these benefits.
Capital One Venture Card vs. Amex Gold Card — Summary
We’ve gone into some detail about how our featured cards stack up in each of the key categories but it’s now time to reflect on the overall comparison and look at the attributes of both cards side by side.
Here’s how the cards compare overall.
Feature or Benefit
Capital One Venture Card
Amex Gold Card
Earning Rewards
5 miles per dollar spent on hotels and rental cars booked through Capital One Travel
2 miles per dollar spent on every purchase
4x Membership Rewards points at U.S. supermarkets (up to $25,000 in purchases each calendar year) and restaurants worldwide
3x points on flights purchased directly with the airlines or via Amex Travel
1x points on all other purchases
Redeeming Rewards
Transfer Capital One miles to airline and hotel partners to redeem for flights/hotel nights
Redeem miles with Capital One Travel
Redeem for gift cards, a statement credit, shop at Amazon, or redeem via PayPal (value will vary)
Transfer Amex Membership Points points to airline and hotel partners to redeem for flights/hotel nights
Redeem points via Amex Travel for 1 cent each in value
Upgrade your flight, gift cards, Amazon, Uber, and other shopping partners
Travel Benefits and Protections
Car rental insurance
Lost luggage reimbursement
Roadside assistance
Travel and emergency assistance services
Global Entry or TSA PreCheck fee reimbursement up to $100
Car rental insurance
Trip delay
Baggage insurance
Travel accident insurance
Global assist hotline
The Hotel Collection benefits
Shopping Benefits and Protections
Extended warranty
Purchase protection
Capital One Offers
Up to $10 per month dining credit at specific restaurants/food delivery
Up to $10 per month Uber Cash
Extended warranty
Purchase protection
Amex Offers
ShopRunner membership
Alternative Cards To Consider
Capital One VentureOne Rewards Credit Card
If you’re looking to earn rewards on every purchase you make but don’t want to pay an annual fee, the Capital One VentureOne card is a nice alternative.
Blue Cash Preferred® Card from American Express
If earning on everyday purchases such as those at supermarkets, streaming service subscriptions, on transit, and at gas stations is important to you, you’ll find the card will work well for earning rewards on those purchases.
You’ll also find an introductory 0% APR on purchases offered with the card (regular APR, as shown above, will apply after the introductory period).
Chase Freedom Unlimited®
Another option for earning on every purchase you make without having to pay an annual fee is the Freedom Unlimited card.
While the Capital One Venture card and Amex Gold card offer nice redemption values when redeeming rewards for travel, the better card for you will be the 1 that matches your spending mix and your preference of how much you want to spend on an annual fee.
The Amex Gold card could be a match if you spend a lot at the grocery store, on dining, or on flights via the airline or Amex Travel. The Capital One Venture card with its flat-rate earnings makes it a match for earning on all of your purchases, not just those in select bonus categories.
Regardless of the card you select, you will want the value received to offset the annual fee. In the first year, earning the welcome bonus on either of our featured cards should accomplish that objective.
Any ongoing card value will be determined by how your spending mix is rewarded each year, the value you receive at redemption time, and how many of the benefits you utilize.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
For rates and fees of the American Express® Gold Card, click here. For rates and fees of the Blue Cash Preferred® Card from American Express, click here. For rates and fees of The Platinum Card® from American Express, click here. For rates and fees of The Business Platinum Card® from American Express, click here.
Featured Image Credit: Upgraded Points
Frequently Asked Questions
The better card for you will be the one that matches your spending mix, redemption preferences, benefits you’ll use, and if the value you will receive overall will offset the annual fee.
If you spend a lot at grocery stores, dining out, and on flights with the airlines (or Amex Travel), you could fare well with the Amex Gold card.
However, if your expenses are heavy in other categories, receiving 2 miles per dollar spent on every purchase you make could prove to deliver more value.
Both cards have similar redemption options that allow you to receive potentially higher value when transferring rewards to travel partners.
Capital One miles, in our estimation, are worth 1.4 cents per mile. The actual value you receive at redemption time, however, will vary based on your redemption choice.
For example, if you choose to redeem your miles for travel via Captial One Travel, you will receive 1 cent in value per mile.
If you transfer your miles to airline or hotel frequent flyer programs, you could receive greater potential value.
Membership Rewards points are generally worth around 1 cent each. However, because the greatest value may be realized by transferring points to airline (or hotel) partners, for this type of redemption you could receive a much higher value per point.
Christine ran her own business developing and managing insurance and financial services. This stoked a passion for points and miles and she now has over 2 dozen credit cards and creates in-depth, detailed content for UP.
Disclaimer: Any comments listed below are not from the bank advertiser, nor have they been reviewed or approved by them. No responsibility will be taken by the bank advertiser for these comments.
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This bonus value is an estimated valuation calculated by UP after analyzing redemption options, transfer partners, award availability and how much UP would pay to buy these points.
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