Discover it Miles vs. Capital One Venture

There are hundreds of rewards credit cards on the market today, and it can be difficult to pick just one. This is true of premium travel credit cards with annual fees over $500, but it’s also mid-tier travel credit cards or top cards with no annual fee.

You may even find yourself staring down two unique offers like the Discover it® Miles and Capital One Venture Rewards Credit Card: two cards with generous rewards and no major bonus categories to manage.

However, before you choose one of these cards, you’ll want to consider each card’s major fee details and the fine print that spells out how to use your perks and rewards. 

Main details

Discover it® Miles vs. Capital One Venture Rewards Credit Card highlights

Which of these two travel credit cards will leave you better off? That depends on what you value more — a welcome offer, a higher rewards rate or no annual fee. Read on to learn which of these two cards wins in the most important categories.

Which card earns the most?

Since the Capital One Venture Rewards Credit Card has a higher earning rate on everyday purchases, you’ll always earn more with this card than you would with the Discover it Miles assuming equal spending.

That said, how much more you’ll earn in the first year depends on how much you use your card and whether you book travel through Capital One.

Discover it® Miles vs. Capital One Venture Rewards spending example

Imagine you have a family of four. Your average food spending would work out to $1,361.40 per month (or $16,336.80 per year) on a moderate plan, according to the USDA.

Let’s also imagine you spend $400 per month ($4,800 per year) dining out, $300 per month ($3,600 per year) on hotels and rental cars and $1,000 per month ($12,000 per year) on miscellaneous purchases.

With the Capital One Venture, you would earn 84,273 miles in the first year:

• 32,673 miles on groceries
• 9,600 miles on dining out
• 18,000 miles on hotels and rental cars booked through Capital One Travel
• 24,000 miles on regular spending

When you add in the 75,000 bonus miles you earn the first year, plus the $250 Capital One Travel credit, your rewards haul works out to 159,273 miles, worth $1,592.

With the Discover it Miles, on the other hand, you would earn 55,105 miles on spending during the first year:

• 24,505 miles on groceries
• 7,200 miles on dining out
• 5,400 miles on hotels and rental cars
• 18,000 miles on regular spending

After the first year of card membership, Discover would match your miles for a total rewards haul of 110,210 miles, worth $1,102.

Why should you get the Capital One Venture Rewards Credit Card?

There’s no denying the Capital One Venture offers a better rewards rate in every scenario. However, there are additional reasons this card is well worth it.

• Additional benefits
  

  Effective January 1, 2025, Venture and Spark cardholders will no longer receive complimentary lounge access, but will get two complimentary visits to Capital One airport lounges to use by December 31, 2024. They and their guests can access these lounges for $45 (per visit) thereafter.

  Other benefits include access to presale tickets and member experiences, an auto rental collision damage waiver coverage, a fee statement credit worth up to $120 for Global Entry or TSA PreCheck membership and extended warranty coverage on eligible items.

• Redemption options
  

  Capital One miles are considerably more valuable than they used to be. You can move your miles to Capital One transfer partners like Air Canada Aeroplan, Air France / Flying Blue, Choice Privileges, Emirates and Singapore Airlines with most partners offering a transfer ratio of 1:1. When transferred to top partners, Bankrate estimates Capital One miles to be worth 1.7 cents each — although it depends on where you transfer your miles.

  You can also redeem miles for travel through the Capital One Travel portal or for statement credits to cover eligible travel purchases made within the last 90 days. Further, rewards can be used for gift cards or purchases through PayPal or Amazon.com.

Why should you get the Discover it® Miles?

The main reason to consider the Discover it Miles out of these two cards is if you don’t want to pay an annual fee. Other nuances to be aware of include:

• Additional benefits
  

  The Discover it Miles is relatively light on perks and benefits, although you do get a free FICO credit score and help with some basic online privacy protection.

  However, this card’s introductory offer for purchases and balance transfers is the main benefit. Thanks to this card’s 0 percent intro APR offer on purchases and balance transfers for 15 months (18.24% – 27.24% Variable APR thereafter), you can save money as you pay down large purchases or consolidate debt from other cards.

• Redemption options
  

  The Discover it Miles doesn’t have any transfer partners to which you can move your rewards, but you can redeem statement credits for travel purchases made in the last 180 days. You can redeem your miles for statement credits to cover all or part of your credit card bill, electronic deposits to a bank account or purchases through Amazon or PayPal.

The bottom line

If you’re ready to choose a travel credit card and are looking closely at the Capital One Venture and Discover it Miles, you should stop and think about what you want most. Do you prefer the chance to earn a higher rewards rate on everything you buy, or do you want a credit card with no annual fee? If rewards are your main goal, the Capital One Venture Rewards is the way to go.

If neither of these cards fit the bill, compare additional travel credit cards from Capital One, Discover and other major issuers. By comparing all your options, you can find a travel credit card with the earning rate, redemption options and perks you want the most.