Bank of America vs. Capital One Venture: Venture Packs More Mileage

The Bank of America® Travel Rewards credit card and the Capital One Venture Rewards Credit Card are among some of the most popular general travel credit cards on the market. Unlike cards tied to a particular airline or hotel chain, these cards give you tremendous flexibility. You book travel however you want, then use your credit card rewards to pay for your trip.

When you compare them side by side, the Capital One Venture Rewards Credit Card comes out ahead with its potential for long-term value, even with its $95 annual fee. Initially, you'll earn a sizable sign-up bonus, and you'll also receive generous ongoing perks and rewards.

The Bank of America® Travel Rewards credit card is a decent choice if you prefer a $0 annual fee or an introductory APR, but from a rewards perspective, it won't provide as much value unless you're a Bank of America® Preferred Rewards member who keeps a significant amount of money with the bank.

Why the Capital One Venture Rewards Credit Card is better for most travelers

The Capital One Venture Rewards Credit Card earns a higher rewards rate and packs more perks that can quickly help you make your vacation plans a reality. While the $95 annual fee may be a dealbreaker for some, the incentives combined can offset its cost and still allow you to earn more value over time.

A heftier introductory bonus

By comparison, the Capital One Venture Rewards Credit Card has a more generous introductory offer for new cardholders: Enjoy $250 to use on Capital One Travel in your first cardholder year, plus earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening - that’s equal to $1,000 in travel. The Capital One Venture Rewards Credit Card requires more spending to claim the bonus, but if you plan it around a heavy-spend season, you may find that it's not too daunting to reach. If earned, it can free up money in your budget to enhance your vacation or cover other costs.

Better rewards

Looking at these cards' baseline rewards rates, the Capital One Venture Rewards Credit Card flies 33% higher: It gives you an unlimited 2 miles per $1 spent on most purchases, plus 5 miles per $1 on hotel and rental car bookings through Capital One Travel. The Bank of America® Travel Rewards credit card gives you an unlimited 1.5 points per $1 spent. (You'll earn 3 points per $1 spent when you book travel via the Bank of America® Travel Center.) Each card's rewards have a value of 1 cent per mile or point when redeemed for travel.

Both cards allow you to redeem rewards toward a variety of travel-related expenses like airfare, hotel stays, cruise lines, travel agencies or other options. Rewards also don’t expire for either card as long as it remains open and active.

More travel perks

Both cards skip the foreign transaction fees, allowing you to save money on purchases made abroad. But the Capital One Venture Rewards Credit Card has a longer list of travel perks that can add value to your next vacation. Among them:

• Credits: Receive a credit for a Global Entry or TSA PreCheck application fee, and get a $50 experience credit and other premium benefits with every hotel and vacation rental booked from the Lifestyle Collection.  

• Transfer partners: You can transfer miles to more than a dozen partner airline and hotel programs at varying rates. The value of miles transferred varies by partner and redemption options. 

• Auto rental collision damage waiver: Receive coverage for damage due to collision or theft when you rent an eligible car with the card.

• Hertz Five Star status: This benefit allows you to receive free status upgrades, avoid waiting in line and choose from more rental car options. Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at that status level through the duration of the offer. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g. at Car Rental: Save More on Rental Cars, Vans & Trucks | Hertz ) will not automatically detect a cardholder as being eligible for the program and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply.

Who might prefer the Bank of America® Travel Rewards credit card

Those who want a $0 annual fee

If an annual fee isn’t for you, the Bank of America® Travel Rewards credit card is a decent choice. For a $0-annual-fee card, it features a decent rewards rate and the flexibility to book and redeem travel with any airline or hotel brands.

Those who want an introductory APR

Unlike the Capital One Venture Rewards Credit Card, the Bank of America® Travel Rewards credit card offers an introductory interest-free window: 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 18.24%-28.24% will apply. Travel credit cards with these types of offers are uncommon, so when you encounter one it's worth considering, especially if you could use the breathing room when you’re booking a flight or a stay.

Those who are Preferred Rewards customers

For customers who keep a significant amount of money with Bank of America®, the Bank of America® Travel Rewards credit card could potentially be a better long-term deal than theCapital One Venture Rewards Credit Card. If you're enrolled in the Bank of America® Preferred Rewards program and have at least $20,000 in combined accounts at Merrill or other qualifying accounts, you can earn bonuses of 25% or more. If you qualify to earn more than 2 points per dollar spent, then the Bank of America® Travel Rewards credit card could be a more valuable option.

Which card should you get?

While the Bank of America® Travel Rewards credit card has some standout features you won’t find elsewhere, the Capital One Venture Rewards Credit Card is the better choice in most cases, thanks to its lucrative sign-up bonus, its high ongoing rewards rate on most purchases, and its multiple travel-related perks.