For years, the unquestionable leaders of the premium card market have been The Platinum Card® from American Specific and the Chase Sapphire Reserve.
That every one modified when Capital One shook up the business with its debut of the Capital One Enterprise X Rewards Credit score Card (see charges and costs) in late 2021 — undercutting each of its rivals by providing aggressive perks at a decrease $395 annual price.
Maybe you’re one of many many Sapphire Reserve cardmembers who’ve questioned your loyalty to Chase with the launch of the Enterprise X. Or, perhaps you’re on the hunt in your first premium journey rewards card.
In the present day, we’ll enable you resolve whether or not the Capital One Enterprise X or the Chase Sapphire Reserve is the higher card for you.
Evaluating the Capital One Enterprise X and the Chase Sapphire Reserve
| Function | Capital One Enterprise X | Chase Sapphire Reserve |
|---|---|---|
| Annual price | $395. | $550. |
| Welcome bonus | Earn 75,000 bonus miles after you spend $4,000 within the first three months of account opening. | Earn 60,000 bonus factors after you spend $4,000 within the first three months of account opening. |
| Incomes charge |
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| Assertion credit |
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| Different card advantages |
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*Upon enrollment, accessible by way of the Capital One web site or cell app, eligible cardholders will stay at upgraded standing degree by way of December 31, 2024. Please observe, enrolling by way of the conventional Hertz Gold Plus Rewards enrollment course of (e.g. at Hertz.com) won’t mechanically detect a cardholder as being eligible for this system and cardholders won’t be mechanically upgraded to the relevant standing tier. Further phrases apply.
Annual price
The annual price on the the Sapphire Reserve is $550. Be aware that it prices an extra $75 so as to add a licensed person.
At $395 per 12 months, the Capital One Enterprise X is likely one of the most reasonably priced premium playing cards. Better of all, you’ll be able to add as much as 4 licensed customers for no extra price.
Winner: The Capital One Enterprise X for its decrease annual price for the first cardholder and no extra price for as much as 4 licensed customers.
Welcome bonus
Each playing cards require the identical quantity of spend in a given time-frame ($4,000 within the first three months of account opening) to unlock their introductory presents.
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TPG values Chase Final Rewards factors barely larger than Capital One miles on account of its superior switch companions — we estimate that Final Rewards factors are value 2 cents apiece whereas Capital One miles are value 1.85 cents apiece.
The Capital One Enterprise X’s welcome bonus of 75,000 miles is value about $1,388, whereas the Sapphire Reserve’s bonus of 60,000 factors is value $1,200.
Winner: Capital One Enterprise X.
Incomes
Which premium card will supply higher returns in the long term? For this evaluation, we factored within the worth of every foreign money to their rewards charges:
| Capital One Enterprise X | Chase Sapphire Reserve | |
|---|---|---|
| Incomes charge |
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Each the Enterprise X and the Sapphire Reserve supply implausible returns for journey bought by way of their respective portals.
Whereas the Enterprise X presents simplicity, with 2 miles per greenback on all different purchases, the Chase Sapphire Reserve presents larger returns for 2 profitable bonus classes — journey (booked exterior of Final Rewards) and eating purchases.
Chase defines journey as a broad class, together with every thing from rental properties and buses to rideshares and parking charges. Equally, eating purchases embody takeout and supply providers, widening the spectrum for what falls below this class.
Winner: Chase Sapphire Reserve, because it presents bonus classes past journey portal bookings. Nevertheless, non-bonus purchases solely garner 1 level per greenback. If you happen to’re the kind of client who has a ton of assorted spend exterior of journey and eating, then the Enterprise X could also be a greater card for you for its easy incomes charge.
Redeeming
With each of those applications, transferring your factors to journey companions is probably the most rewarding solution to redeem your factors and miles.
The Chase Final Rewards program is a long-time crowd favourite. You possibly can switch your Final Rewards factors at a easy, 1:1 ratio (so each 1,000 Chase factors equates to 1,000 factors or miles in a Chase switch accomplice program).
Then again, the Capital One miles program has companions that switch at a 1:1 ratio for probably the most half, however there are a number of exceptions that switch at a much less favorable ratio.
Let’s evaluate the companions side-by-side (all switch at a 1:1 ratio until in any other case acknowledged).
| Capital One miles | Chase Final Rewards |
|---|---|
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As you’ll be able to see, there are fairly a number of overlaps. Whereas Capital One presents extra loyalty companions, there aren’t any home airways (after it misplaced JetBlue TrueBlue as a accomplice).
In the meantime, Chase presents three home airways — JetBlue, Southwest and United — in addition to one significantly profitable lodge program, World of Hyatt.
After all, each the Enterprise X and Sapphire Reserve supply different (much less profitable) redemption choices, akin to present playing cards and money again.
Nevertheless, with the Sapphire Reserve, your factors are value 50% extra towards any journey booked by way of the Final Rewards portal, making your factors value 1.5 cents apiece. Whereas this isn’t as rewarding as transferring your factors to Chase’s switch companions, this redemption choice is beneficial in case you are having hassle discovering award house.
In the meantime, the Enterprise X presents fixed-rate journey redemptions at simply 1 cent per mile — and whereas this may be utilized to any journey buy you cost to the cardboard, it’s nonetheless notably decrease.
Winner: Chase Sapphire Reserve. Extra companions doesn’t essentially equate to extra worth, which is why we peg Final Rewards factors at a better worth than Capital One miles. And even the fixed-value redemption choice is 50% extra profitable.
Different advantages
Let’s speak about what makes these playing cards actually premium.
For starters, there’s an as much as $300 annual journey assertion credit score on each playing cards. Nevertheless, the Enterprise X’s journey credit score is much less versatile because you’ll need to guide all journey on the Capital One portal with the intention to obtain reimbursem*nt. In the meantime, the Sapphire Reserve will mechanically reimburse for any purchases below the “journey” umbrella as much as the $300 restrict — and so they don’t essentially need to be booked immediately with Chase.
As for lounge entry, each playing cards supply Precedence Cross membership, supplying you with entry to 1,300-plus lounges worldwide.
On the one hand, the Enterprise X will get you Limitless complimentary entry for you and two visitors, whereas the Sapphire Reserve limits to you to 2 free visitors (after which $27 every for added visitors.) The place the Sapphire Reserve fights again is which you can go to Precedence Cross eating places and spas, whereas you are restricted to lounges with the Enterprise X.
Each issuers are entering into the lounge recreation themselves, with Capital One’s first lounge open at Dallas-Fort Price Worldwide Airport (DFW) and extra to return. The Enterprise X will get you entry.
Chase has its first U.S. lounge open in Boston and the Sapphire Reserve card will get you entry.
Lastly, each are Visa Infinite playing cards, supplying you with high-level journey and buy protections. Each additionally include ancillary advantages that received’t essentially transfer the needle for potential candidates (akin to the ten,000-mile anniversary bonus on the Enterprise X and accomplice advantages with the Sapphire Reserve), however these perks are all value making the most of for those who resolve to use for both card.
Winner: Tie. Whereas the Chase Sapphire Reserve’s $300 journey credit score is way more versatile, the Capital One Enterprise X comes with 10,000 bonus anniversary miles. They’re very related on lounges.
Backside line
Each the Enterprise X and the Sapphire Reserve have their very own strengths and weaknesses, so it’s not possible to generalize which card comes out on prime.
Nevertheless, for a way more manageable annual price, the Enterprise X is a implausible providing — for those who don’t thoughts utilizing the journey portal to unlock most of the advantages on the cardboard.
For individuals who choose to guide immediately with journey suppliers, the Sapphire Reserve is probably going the higher choice for you — however at the price of a better $550 annual price.
Official software hyperlink: Capital One Enterprise X Rewards Credit score Card
Official software hyperlink: Chase Sapphire Reserve
For Capital One merchandise listed on this web page, a number of the above advantages are offered by Visa® or Mastercard® and should range by product. See the respective Information to Advantages for particulars, as phrases and exclusions apply.
Further reporting by Ryan Wilcox.
