Im not a K-in-Boston math genious, but im gonna say the 2%
Not that easy. The venture gets 2% when redeemed for travel. When you redeem for anything else it can go down to 1% depending on what it is. MR points if redeemed for cash can go down to $0.60 per point but depending how you transfer could go up to much more.
I heard venture will have mile transfer partner now, so its value may change somewhat.
If you just want a simple way to get decent value, why not just a citi DC instead.
You have to subtract the Venture's annual fee from your earnings to make a valid comparison to a no-fee card.
If we are talking cash back, neither is a great card for that purpose. Why limit the comparison only to Venture vs. AmEx?
citi dc, paypal mc.