At a side tipped to be the Elite League Champions by Blaze coach Paul Thompson, Coventry took the lead on 28.53 when Dan Carlson scored a short-handed goal, assisted by Luke Fulghum.
Cardiff came back thanks to a powerplay goal from Max Birbraer, assisted by Scott Matzka on 35.30, only for youngster Ross Venus to restore The Blaze's lead twenty eight seconds later with an unassisted goal.
Before the middle period came to a close, Phil Hill had scored to make it 2-2 going into the third.
Forty three seconds into the third and Coventry were ahead for the third time thanks to Brad Cruickshank scoring, assisted by Russ Cowley.
Cardiff then struck with goals from Phil Hill and Max Birbraer but on 55.50, Arron Nell levelled it at four apiece with assists for Dan Carlson and Brad Zanon.
That took the game into over-time but 56 seconds in, Ross Finnerty netted to give Cardiff the victory.
On Sunday, Coventry Blaze take on the Sheffield Steelers. Face off is at 6pm.