bank comparison · 2¢ vs 1.8¢
Chase Ultimate Rewards vs Capital One Miles
Side-by-side: cents-per-point, sweet-spot depth, and which program wins for your trip mix.
All program comparisons
Bottom line: our valuation framework values Chase Ultimate Rewards higher at 2¢ per point. The other program at 1.8¢ still has its place, see below for use cases where it pulls ahead.
OUR PICK
Chase Ultimate Rewards
bank
CPP
2¢
Sweet spots
0+
Full program details
Capital One Miles
bank
CPP
1.8¢
Sweet spots
0+
Full program details
When Chase Ultimate Rewards wins
Higher baseline CPP (2¢ vs 1.8¢) means more travel value per point on a typical redemption. Lean toward Chase Ultimate Rewards if your card portfolio is heavy on its earning structure.
When Capital One Miles wins
Lean toward Capital One Miles if your spending categories align with its bonus tiers.
How we value: our CPP numbers are anchored to saver award space at the median observed redemption, not chart-floor pricing. Read the full valuation methodology for why our numbers run lower than competitor rankings.