Capital One Venture Rewards vs. Bank of America Travel Rewards: Which card fits your needs?
Regardless of whether you're new to points and miles or an experienced traveler, having at least one flat-rate earning credit card is essential.
Newcomers can find these cards to be an excellent starting point for rewards since there are no bonus categories to maximize. On the other hand, seasoned travelers can utilize them as a reliable option for non-bonus spending.
Regardless of your experience level, it's crucial to select the right card. Let's take a closer look at two leading flat-rate credit cards: the Capital One Venture Rewards Credit Card and the Bank of America® Travel Rewards credit card.
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Comparing Capital One Venture Rewards and Bank of America Travel Rewards
| Card: | Capital One Venture Rewards | Bank of America Travel Rewards |
|---|---|---|
| Annual fee | $95 (see rates and fees) | $0 |
| Welcome offer | Earn 75,000 bonus miles when you spend $4,000 on purchases within the first three months from account opening. | Earn 25,000 online bonus points after spending $1,000 in the first 90 days from account opening. |
| Earning rate | 5 miles per dollar on hotels and rental cars booked through Capital One Travel
2 miles per dollar on all purchases | 1.5 points per dollar on all purchases
25%-75% more points on every purchase for Preferred Rewards® members |
| Rewards value | 1.85 cents per mile (per TPG's July 2024 valuations) | 1 cent per point |
| Top benefits |
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Capital One Venture Rewards vs. Bank of America Travel Rewards sign-up bonuses
Currently, new cardholders of the Capital One Venture Rewards will receive 75,000 bonus miles after spending $4,000 within the first three months of opening their account. According to TPG's July 2024 valuations, these miles are valued at 1.85 cents each, and combined with the Capital One Travel credit, this bonus totals approximately $1,388.
In contrast, the Bank of America Travel Rewards offers a welcome bonus of 25,000 online points after spending at least $1,000 in the first 90 days. These points translate to $250 in statement credits for travel and dining expenses.
Winner: Capital One Venture Rewards. Although it requires a higher spending threshold, its bonus value far exceeds that of the Bank of America Travel Rewards bonus, worth at least four times more.
Benefits of Capital One Venture Rewards vs. Bank of America Travel Rewards
The Bank of America Travel Rewards card comes with no annual fee, resulting in limited benefits. However, as a Visa Signature card, it offers some travel protections and advantages associated with this card type.
ALEKSANDARNAKIC/GETTYIMAGESIn contrast, the Capital One Venture Rewards card carries a $95 annual fee (see rates and fees) and provides solid benefits for a mid-tier travel card. It offers up to $120 in credits for Global Entry or TSA PreCheck.
Moreover, cardholders gain access to hotel bookings via Capital One's Lifestyle Collection, along with 24/7 travel assistance and various travel and shopping protections.
Champion: Capital One Venture Rewards. It provides more benefits and opportunities than the Bank of America Travel Rewards.
Rewards earning with Capital One Venture Rewards vs. Bank of America Travel Rewards
One significant advantage of both the Capital One Venture Rewards and the Bank of America Travel Rewards is their straightforward flat-rate earning systems, allowing you to earn strong rewards on every purchase.
The Venture Rewards card offers 5 miles per dollar on hotels and rental cars booked via Capital One Travel, and 2 miles per dollar on all other spending.
WESTEND61/GETTY IMAGESThe Bank of America Travel Rewards earns 1.5 points for every dollar spent on all purchases. However, if you're part of the Bank of America Preferred Rewards Program, you can earn an extra 25% to 75%, depending on your membership level.
The Bank of America Preferred Rewards program is open to Bank of America customers with a minimum $20,000 average combined balance over three months across Bank of America banking and Merrill investment accounts. Membership provides various perks, including a set number of fee-free ATM transactions at non-Bank of America ATMs, savings account boosts, and a rewards bonus on earnings from Bank of America credit cards.
The program features four tiers based on your savings or investment levels with the bank:
| Preferred Rewards tier | Gold | Platinum | Platinum Honors | Diamond |
|---|---|---|---|---|
| Required balance (three-month combined average across accounts) | $20,000-$49,999 | $50,000-$99,999 | $100,000-$999,999 | $1,000,000+ |
| Rewards bonus | 25% | 50% | 75% | 75% |
| Effective Travel Rewards earning rate | 1.88 points | 2.25 points | 2.63 points | 2.63 points |
This rewards bonus significantly enhances the value of the Bank of America Travel Rewards credit card. For Platinum, Platinum Honors, or Diamond members, you can actually earn at a better rate on this no annual fee card compared to the Venture Rewards card.
Champion: Capital One Venture Rewards, except for those who are Platinum, Platinum Honors, or Diamond members of the Bank of America Preferred Rewards program.
Redeeming rewards with Capital One Venture Rewards vs. Bank of America Travel Rewards
Both cards let you redeem your rewards for travel as a statement credit at a value of one cent each.
The Bank of America Travel Rewards allows you to redeem points as a statement credit for travel and dining purchases, with a minimum redemption requirement of 2,500 points. You can also exchange rewards for gift cards or cash back, though these options offer a lower value.
HINTERHAUS PRODUCTIONS/GETTY IMAGESThe Capital One Venture Rewards provides a broader array of redemption choices. Similar to the Bank of America Travel Rewards, you can redeem your miles for statement credits on travel purchases at a rate of one cent per mile, or use them to book travel through the Capital One portal at the same rate.
However, transferring your miles to any of Capital One's 15+ hotel and airline partners provides the best value.
Champion: Capital One Venture Rewards. It presents a broader selection of redemption options, enabling you to maximize the value of your rewards.
Transferring rewards with Capital One Venture Rewards vs. Bank of America Travel Rewards
The Bank of America Travel Rewards does not permit transfers of your rewards to travel partners.
On the other hand, Capital One Venture Rewards allows you to transfer your miles to any of Capital One's airline and hotel partners, including valuable options like Air Canada Aeroplan, Turkish Airlines Miles&Smiles, and Wyndham Rewards.
AARON P/BAUER-GRIFFIN/GC IMAGES/GETTY IMAGESTPG's managing editor for credit cards, Matt Moffitt, finds great value by transferring his miles to Air France-KLM Flying Blue and booking business-class flights to Europe.
Champion: Capital One Venture Rewards. With no transfer option available on the Bank of America Travel Rewards, Capital One Venture Rewards takes the win by default.
Should I choose the Capital One Venture Rewards or the Bank of America Travel Rewards?
If you're looking to transfer your rewards to airline and hotel partners, the Capital One Venture Rewards is the clear choice. However, if you'd prefer to avoid annual fees and redeem rewards for both dining and travel purchases, then the Bank of America Travel Rewards may be a better fit for you.
Final thoughts
Both cards have their advantages. If you're a loyal Bank of America customer with sufficient funds to qualify for the Bank of America Preferred Rewards program, you can find substantial value in the Bank of America Travel Rewards credit card.
However, most travelers will likely benefit more from the Capital One Venture Rewards. With a higher earning rate, additional perks, and flexible redemption options, this $95 annual fee card is tough to beat (see rates and fees).
For further details, check out our comprehensive reviews of the Capital One Venture Rewards and the Bank of America Travel Rewards.
Discover more: Capital One Venture Rewards
For the Capital One products mentioned on this page, certain benefits are offered by Visa® or Mastercard® and may differ by product. Refer to the respective Guide to Benefits for specifics, as terms and exclusions apply.
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