Capital One Venture vs. Bank of America Travel Rewards credit card
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If you want to earn rewards you can use to cover travel expenses, there are quite a few travel credit cards that should be on your radar. The Capital One Venture Rewards Credit Card and the Bank of America® Travel Rewards credit card are two popular options thanks to their flat-rate rewards, welcome bonuses and cardholder perks.
If you’re on the fence about either of these travel credit cards, or you’re trying to choose between the two, you should take the time to compare all their benefits and rewards potential. Keep reading to learn how the Capital One Venture and Bank of America Travel Rewards card stack up in the categories you care about the most.
|Features||Capital One Venture||Bank of America Travel Rewards|
|Welcome bonus||75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel||25,000-point bonus when you spend $1,000 within the first 90 days of account opening, equal to $250 in travel|
|Rewards rate||Unlimited 2X miles on every purchase, plus 5X miles on hotels and rental cars booked through Capital One Travel||Unlimited 1.5X points on all qualifying purchases|
|Intro APR||None||0% introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 16.24% – 26.24% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.|
Capital One Venture vs. Bank of America Travel Rewards highlights
The Capital One Venture comes out ahead in most of the important categories. However, there are some areas where the Bank of America Travel Rewards card might be the better choice.
Welcome bonus winner: Capital One Venture
The Capital One Venture’s 75,000-mile welcome bonus (earned after spending $4,000 on purchases within the first three months) is the clear winner compared to the Bank of America Travel Rewards card’s 25,000-point bonus (earned after spending $1,000 in purchases within 90 days of account opening). The Venture’s bonus is worth $750 toward travel, while the Bank of America Travel Rewards card’s bonus is worth $250 toward travel.
Rewards rate winner: Capital One Venture
The Capital One Venture will definitely leave you ahead in terms of its rewards power. This Capital One credit card lets you earn a flat 2X miles for every purchase you charge to your credit card, whereas the Bank of America Travel Rewards card only offers 1.5X points for every purchase. Plus, with the Venture, you earn 5X miles on hotels and rental cars specifically booked through Capital One Travel.
Annual Fee winner: Bank of America Travel Rewards
The Bank of America Travel Rewards card wins in this category based on the fact that it doesn’t charge an annual fee. By contrast, the Capital One Venture comes with a $95 annual fee.
Foreign transaction fee winner: Tie
Neither of these rewards credit cards charge foreign transactions fees on purchases you make outside the United States. As a result, both options tie in this category.
Which card earns the most?
Since the Capital One Venture offers 2X miles on every purchase (versus 1.5X points), it’s pretty obvious it will lead to more rewards. However, the $95 annual fee the Venture card charges has the potential to eat away at your rewards balance depending on your spending style.
Capital One Venture vs. Bank of America Travel Rewards spending example
As an example, let’s say you only plan to spend $500 per month on your credit card within the general category, which would add up to $6,000 in spending over the course of one year.
With the Capital One Venture, you would earn 12,000 miles (worth $120 in travel) by the end of the year, but you would also pay a $95 annual fee. On the other hand, the Bank of America Travel Rewards card would leave you with 9,000 points (worth $90 in travel), and you wouldn’t have an annual fee to pay.
That being said, the sign-up bonus the Capital One Venture is offering could change the narrative in a hurry with an added 75,000 bonus miles (after spending $4,000 on purchases in the first three months). In total, you would earn 77,000 miles in your first year, or $770 toward travel. After subtracting the annual fee, that’s a $675 value.
With the Bank of America Travel Rewards card, you would earn a total of 34,000 points (worth $340 in travel) by the end of the first year—9,000 points on spending and an additional 25,000 bonus points for meeting the welcome bonus (earned after spending $1,000 within the first 90 days).
Why should you get the Capital One Venture?
There are plenty of reasons to choose the Capital One Venture card, including its superior rewards rate. Here are some additional factors to keep in mind.
Once you’re a cardholder, you’ll qualify for up to $100 in credits toward Global Entry or TSA PreCheck membership. Other major benefits you’ll receive include no foreign transaction fees, 24-hour travel assistance, secondary auto rental coverage, travel accident insurance and extended warranties on eligible items.
The Capital One Venture gives you the option to cash in your miles at a rate of one cent each to cover travel purchases charged to your card within the last 90 days. This gives you a lot of flexibility since you can book any travel you want without blackout dates, then simply use your miles to cover the charges.
Conversely, you have the option to book travel with miles by calling Capital One’s rewards center. You can also use your miles to cover purchases made on Amazon.com.
Another interesting benefit of the Capital One Venture is the fact you can transfer your miles to Capital One airline and hotel transfer partners. The list includes (but is not limited to):
- Air France / Flying Blue
- Avianca LifeMiles
- British Airways
- Cathay Pacific
- Choice Privileges
- Etihad Guest
- EVA Infinity MileageLands
- Singapore Airlines
- TAP Air Portugal
- Turkish Airlines
- Wyndham Rewards
Recommended credit score
You’ll typically need very good or excellent credit to qualify for this Capital One card, which usually entails a FICO credit score of 740 or higher. However, you may be able to qualify with “good credit,” or a score in the 670 to 739 range.
Why should you get the Bank of America Travel Rewards?
The Bank of America Travel Rewards card can be a good option if you really don’t want to pay an annual fee. However, there are additional considerations to keep in mind.
This card doesn’t have many benefits, but you will receive free access to your FICO score on your credit card statement, digital wallet technology, online banking options and contactless payment options. As an added bonus, you’ll qualify for an introductory 0 percent intro APR on purchases for 18 billing cycles (followed by a variable APR of 16.24 percent to 26.24 percent).
Also, if you’re a Bank of America Preferred Rewards member with an eligible Bank of America credit card, you can earn 25 percent to 75 percent more rewards for each dollar you spend.
The Bank of America Travel Rewards card lets you redeem points at a rate of one cent each to cover any travel purchases charged to your card. The fine print says you have the “flexibility to redeem points for a statement credit to pay for flights, hotels, vacation packages, cruises, rental cars or baggage fees.”
Recommended credit score
You’ll need good credit to qualify, or a FICO credit score of 670 or higher. For the best chances of approval, a FICO score of 740 or higher may be beneficial.
The bottom line
When comparing the Bank of America Travel Rewards vs. Capital One Venture card, you’ll notice both of these travel credit cards let you rack up rewards for each dollar you spend and offer quite a bit of flexibility when it comes to cashing in your rewards. However, the Capital One Venture is likely a better deal despite its annual fee. You can earn a solid welcome bonus if you spend enough on your card, but you’ll also earn more miles on every purchase you make.
Which card should you sign up for? Take the time to compare these two options with the best credit cards on the market today before you decide.
Information about the Bank of America® Travel Rewards credit card was last updated on August 23, 2022.