Credit Cards Travel Credit Cards

Bank Of America® Travel Rewards Credit Card vs. Capital One Venture Rewards Credit Card: No Annual Fee vs. Travel Perks

While these cards have some strong similarities, they have notable differences in earning potential, redemption opportunities, and annual fees.

Updated Oct. 23, 2024
Fact checked

We receive compensation from the products and services mentioned in this story, but the opinions are the author's own. Compensation may impact where offers appear. We have not included all available products or offers. Learn more about how we make money and our editorial policies.

Bank of <span class='whitespace-nowrap'>America<sup>®</sup></span> Travel Rewards credit card

Bank of America® Travel Rewards credit card

4.1
info
  • checkmark icon
    $0 annual fee
  • checkmark icon
    Simple, flat-rate rewards
  • checkmark icon
    Flexible redemption options
  • checkmark icon
    Up to 75% preferred Rewards bonus potential
VS
Capital One Venture Rewards Credit Card

Capital One Venture Rewards Credit Card

4.7
info
  • checkmark icon
    Has a generous welcome offer
  • checkmark icon
    Offers up to $120 Global Entry or TSA PreCheck® statement credit
  • checkmark icon
    Has an easy rewards program and highly flexible travel redemptions
  • checkmark icon
    Doesn’t charge foreign transaction fees
  • checkmark icon
    Offers valuable travel protections
Trumpet icon
Our view

The Bank of America® Travel Rewards credit card and the Capital One Venture Rewards Credit Card are built similarly — With both you can earn flat-rate rewards on all purchases without worrying about maximizing bonus categories. However, each card has a leg up on the other, depending on what you’re looking for.

The Travel Rewards card from Bank of America has a $0 annual fee and includes an extended intro APR period, which is great for anyone paying off debt. On the other hand, the Venture card has some additional travel benefits and allows you to transfer your points to hotel and airline partners, making it a bit more valuable on the travel front.

When deciding which to apply for, analyze your spending habits and travel and financial goals to see which card better aligns with your lifestyle. While the Venture card might be slightly more valuable, it won’t make sense for everyone.

How we evaluate products

Quick comparison

Bank of America® Travel Rewards credit card

Bank of America® Travel Rewards credit card

Capital One Venture Rewards Credit Card

Capital One Venture Rewards Credit Card

FinanceBuzz star ratings
4.1
info
4.7
info
FinanceBuzz value calculation1 Year one earnings: $888

Year two earnings: $638

Year one earnings: $1,521

Year two earnings: $771

Annual fee $0 $95
Welcome bonus Earn 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases Earn 75,000 bonus miles once you spend $4,000 on purchases within 3 months from account opening
Earning rate 1.5 points per $1 spent on all purchases 2 miles per dollar on every purchase, every day, 5 miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel and 5 miles per dollar on Capital One Entertainment purchases through 12/31/25
Introductory APR 0% intro APR for 15 billing cycles on purchases (then 18.74% - 28.74% Variable)

0% intro APR for 15 billing cycles for any balance transfers made in the first 60 days (then 18.74% - 28.74% Variable)

None
Travel perks
  • Visa Signature benefits- includes extended warranty protections, travel assistance, rental collision damage waiver, and other perks.
  • Up to $120 TSA PreCheck or Global Entry credit every four years
  • Hertz Five Star status
  • $50 experience credit on Lifestyle Collection bookings
Credit needed Excellent, Good Excellent, Good
Learn more Learn more

When to go with the Bank of America Travel Rewards Card

The Bank of America Travel Rewards credit card might be the better option if:

  • You prefer a $0 annual fee
  • You want an intro APR offer
  • You’re a Bank of America Preferred Rewards member

No annual fee

The Bank of America Travel Rewards has a $0 annual fee. In contrast, the Capital One Venture Rewards has a $95 annual fee. Keep in mind that an annual fee typically means that a card has more value and benefits, so you have to determine if that tradeoff is worth it.

Intro APR offer

The Bank of America Travel Rewards provides an intro APR offer on purchases and balance transfers.

  • On purchases: 0% intro APR for 15 billing cycles on purchases (then 18.74% - 28.74% Variable)
  • On qualifying balance transfers: 0% intro APR for 15 billing cycles for any balance transfers made in the first 60 days on qualifying balance transfers (then 18.74% - 28.74% Variable)

If you plan on making a large purchase and want to pay it off over time without adding on interest, the Bank of America Travel Rewards card is a fantastic option. Similarly, if you are currently paying high interest rates on a different credit card, you can transfer that balance to your new Bank of America card to work on paying it off faster and avoid more interest payments.

Just be sure to pay the balance off before the intro period ends, as you don’t want to get stuck paying interest.

Preferred Rewards Program

Bank of America Preferred Rewards members earn anywhere from 25% to 75% more points on every purchase, which means you could earn 1.87 to 2.62 points per dollar. It’s no easy feat to become a Preferred Rewards member.

There are four tiers in the program. To qualify for Gold, the base tier, you need a combined average daily balance in Bank of America deposit and Merrill investing accounts of at least $20,000 in a three-month window. This level gives you various perks, including the 25% bonus in points earned. If you want the 75% bonus, that number shoots up to $100,000.

Someone in the market for a no-annual-fee credit card might not be in a position where they have more than $100,000 in their bank account and investments. If you do, this is a solid card to get because of the earning potential. If not, it might not be an attainable goal to reach in a short window.

Apply now or learn more about Bank of America Travel Rewards.

When to go with the Capital One Venture Card

The Capital One Venture could be a better choice if:

  • You want to enroll in TSA PreCheck or Global Entry
  • You want to access airline and hotel transfer partners
  • You want a higher earning potential

Earning potential

The Bank of America Travel Rewards enables you to earn 1.5 points per $1 spent on all purchases. The Capital One Venture Rewards offers 2 miles per dollar on every purchase, every day, 5 miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel and 5 miles per dollar on Capital One Entertainment purchases through 12/31/25.

Although that difference might not seem like much, it can make a big difference. Plus, the Venture allows you to earn even more on hotels, vacation rentals and rental cars booked through Capital One Travel. The Bank of America Travel Rewards Card doesn’t have any bonus categories.

Access to transfer partners

The Capital One Venture card allows you to transfer your miles to 15+ airline and hotel transfer partners at a 1:1 ratio. You can still redeem your points through Capital One Travel or as a statement credit, but transferring miles typically allows you to get outsized value.

You can transfer your miles at a 1:1 ratio to the following partners:

  • Aeromexico Club Premier
  • Air Canada ‒ Aeroplan
  • Cathay Pacific ‒ Asia Miles
  • Avianca LifeMiles
  • British Airways Executive Club
  • Choice Privileges
  • Emirates Skywards
  • Etihad Guest
  • Finnair Plus
  • Flying Blue
  • Qantas Frequent Flyer
  • Singapore Airlines KrisFlyer
  • TAP Miles&Go
  • Turkish Airlines Miles&Smiles
  • Virgin Red
  • Wyndham Rewards

You can also transfer your miles at a 2:1.5 ratio to EVA Air Infinity MileageLands and at a 2:1 ratio to ALL (Accor Live Limitless).

Bank of America doesn’t allow you to transfer your points, so your redemption options are more limited and are at a fixed rate.

Extra travel perks

With the Venture Rewards card, you’ll receive up to $120 as a statement credit for the application fee for Global Entry or TSA PreCheck every four years. I have Global Entry, and it’s a phenomenal program — I made a 30-minute international connection in Atlanta (ATL) earlier this year, which would have been impossible without Global Entry and TSA PreCheck benefits.

Additionally, you’ll receive Hertz Five Star status, which includes complimentary upgrades as available and a wider selection of cars. If you book a Lifestyle Collection property through Capital One Travel, you’ll receive a $50 experience credit to use onsite and other perks like early check-in and late checkout. These perks aren’t major, but they allow you to upgrade your travel experience and help justify the annual fee.

Learn more about the Capital One Venture in our review.

A closer look at the welcome bonuses

Cardholders of the Bank of America Travel Rewards credit card can earn 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases. New Venture Rewards cardholders can earn 75,000 bonus miles once you spend $4,000 on purchases within 3 months from account opening — that's equal to $750 in travel.

Clearly, the Venture card has a much more lucrative offer. However, the bonus has a substantially higher spending requirement, which some might not be able to reach. The last thing you want is to leave money on the table by not spending enough to reach the bonus.

FAQ

Which card issuer is better, Capital One or Bank of America?

Whether Capital One or Bank of America is the better credit card issuer depends on your preferences. However, Capital One offers more credit cards, including one of our recommended picks for frequent travelers, which is the Capital One Venture X Rewards Credit Card. But for flexible everyday earning, we prefer the Bank of America® Customized Cash Rewards credit card.

How much are Bank of America points worth?

Bank of America points are typically worth one cent per point. However, the exact value depends on the redemption option you use. For example, here’s how much points are worth on the Bank of America Travel Rewards credit card:

  • Travel or dining credit: 1 cent per point
  • Cash back: 0.6 cents per point
  • Gift card: Varies, but less than 1 cent per point

Can you use Capital One miles on American Airlines?

You can’t directly transfer Capital One miles to American Airlines. However, you have the following options:

  • Book an American Airlines flight and cover the purchase with Capital One miles
  • Book an American Airlines flight with miles through the Capital One Travel portal
  • Transfer Capital One miles to an airline in the Oneworld Alliance, like British Airways, and book an American-operated flight through the alliance’s website.

Does Bank of America have airline or hotel partners?

No, Bank of America doesn’t have any airline or hotel transfer partners. You can use a card like the Bank of America Travel Rewards to book a flight directly with an airline and redeem your Bank of America points to cover the purchase.

Does Bank of America pay for TSA PreCheck?

Yes, if you have the Bank of America® Premium Rewards® credit card or the Bank of America®️ Premium Rewards® Elite Credit Card. These credit cards provide up to $100 in statement credits toward TSA PreCheck or Global Entry application fees once every four years. 

Bottom line

The Capital One Venture Rewards Credit Card is the better overall card for frequent travelers since you can transfer points to airline and hotel partners. You can also get elevated perks for a moderate annual fee. However, the Bank of America® Travel Rewards credit card is still a solid option for many travelers, allowing you to earn a flat rate on everyday spending without any additional cost. As with any card, analyze your spending habits and travel goals before applying.