Home > Credit Cards > BankAmericard Travel Rewards vs. Capital One Venture Rewards: Which Card Has the Most Value?

Comments 0 Comments

[Update: Some offers mentioned below have expired. You can view the current offers from our partners here —Capital One Venture Rewards. Disclosure: Cards from our partners are mentioned below.]

If you are looking to add a new general travel card to your wallet, then two of the best options are the BankAmericard Travel Rewards card and the Capital One Venture Rewards card. Both of these cards offer their cardholders a simple approach to earning travel rewards. Each has a flat reward rate on purchases, and neither requires you to remember a bunch of different bonus categories.

Let’s take a look at everything these cards have to offer and how they differ from each other. That way you will be able to make a decision on which card would be the best fit for you.

Comparing the Rewards

When you compare credit cards, one of the first things people consider is whether or not the cards have a signup bonus. While both the BankAmericard Travel Rewards card and the Capital One Venture card offer an attractive signup bonus, Capital One has the advantage.

With the Capital One Venture card, you will receive 40,000 miles after spending $3,000 within the first three months of being a cardmember. This is good for a $400 statement credit on a travel expense. In addition to the signup bonus, cardholders will also receive two miles per $1 spent on all purchases.

The BankAmericard Travel Rewards card offers new cardholders 20,000 points after spending $1,000 in the first 90 days. This has a value of $200 toward travel expenses. While this is half of what you can earn from the Capital One Venture card, it also requires only half the initial spend. For some, this might be easier to accomplish. To go along with the signup bonus, you will earn 1.5 points per $1 spent.

Take note, Bank of America banking customers: You have the potential to earn much richer rewards with the BankAmericard. Just for having a checking or savings account you will receive a 10% bonus on the points earned. If you are a Preferred Rewards client, with $20,000 or more in a Bank of America or Merrill Lynch investment account, then you can earn up to a 75% bonus, or 2.6 points per dollar spent.

Redemptions Made Easy

One of the reasons why both of these cards are so popular with travelers is because redemptions are so easy. The rewards you earn don’t need to be transferred to different loyalty programs, and there are no blackout dates on travel. You can simply use the rewards you have as a statement credit toward travel expenses, or you can book travel directly through the issuers’ online travel portals. No matter which way you go, the process is painless. Plus, as long as your account stays open and active, your rewards will never expire.

If for some reason you decide not to use your rewards for travel, there are other options available as well. Just keep in mind that each of these will give you a value less than the normal one-cent-per-point. You will be able to redeem rewards from the Capital One Venture Rewards card for either gift cards or cash back. The rewards you earn from the BankAmericard Travel Rewards card can be used to fund a mortgage, IRA or 529 plan with Bank of America or Merril Lynch. You can also redeem them for gift cards, cash back, or to make a charitable contribution.

How The Fees Stack Up

The Capital One Venture Rewards card might have the higher signup bonus, but it also includes a $59 annual fee (waived the first year). You would never pay an annual fee on the BankAmericard Travel Rewards card, and neither card carries foreign transaction fees.

It’s a good idea to pay off your purchases at the end of the month to avoid paying interest, but if you do need to carry a balance, then the Capital One Venture card may be a little less expensive. It’s standard purchase APR is a variable 13.49% to 23.49%, whereas the BankAmericard Travel Rewards card is 15.49% to 23.49%. The APR you receive depends on your creditworthiness. (Pro tip: Check your credit before you apply for a credit card, to get an idea how likely you are to get approved and qualify for a lower APR. You can see two of your credit scores for free on Credit.com, and they’re updated every 14 days. If your credit could use some help, check out these tips on how to quickly improve your credit score.)

Why You Might Pick the Capital One Venture Rewards Card

The Capital One Venture Rewards card is a great option for anyone wanting a general travel credit card with a simple reward system. The card has a high signup bonus, double what you would receive from the BankAmericard Travel Rewards card. Plus, you earn double points on every purchase you make.

However, even though it waives the annual fee the first year, you would need to be able to justify the $59 fee each subsequent year. At a redemption rate of 100 miles per $1 and an earnings rate of 2 miles per $1 spent, you would need to spend $2,950 on the card per year to break even. If you spend more than that each year, then this is a solid credit card to put in your wallet.

Why You Might Pick the BankAmericard Travel Rewards Card

If you are a Bank of America banking customer, then you’ll want to give serious consideration to the BankAmericard Travel Rewards card. Standard banking customer will earn a 10% bonus on the base reward rate of 1.5 miles per dollar spent. However, if you have $20,000 or more in your qualifying account, you can become a Preferred Rewards client, which allows you to earn 25% to 75% bonus, depending on your qualifying account balance. This would also be a great card to have if you’re not a big spender and can’t justify the annual fee on the Capital One Venture card.

At publishing time, the BankAmericard Travel Rewards and Capital One Venture cards are offered through Credit.com product pages, and Credit.com is compensated if our users apply and ultimately sign up for these cards. However, these relationships do not result in any preferential editorial treatment. This content is not provided by the card issuer(s). Any opinions expressed are those of Credit.com alone, and have not been reviewed, approved or otherwise endorsed by the issuer(s).

Image: swissmediavision 

Comments on articles and responses to those comments are not provided or commissioned by a bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by a bank advertiser. It is not a bank advertiser's responsibility to ensure all posts and/or questions are answered.

Please note that our comments are moderated, so it may take a little time before you see them on the page. Thanks for your patience.

Certain credit cards and other financial products mentioned in this and other sponsored content on Credit.com are Partners with Credit.com. Credit.com receives compensation if our users apply for and ultimately sign up for any financial products or cards offered.

Hello, Reader!

Thanks for checking out Credit.com. We hope you find the site and the journalism we produce useful. We wanted to take some time to tell you a bit about ourselves.

Our People

The Credit.com editorial team is staffed by a team of editors and reporters, each with many years of financial reporting experience. We’ve worked for places like the New York Times, American Banker, Frontline, TheStreet.com, Business Insider, ABC News, NBC News, CNBC and many others. We also employ a few freelancers and more than 50 contributors (these are typically subject matter experts from the worlds of finance, academia, politics, business and elsewhere).

Our Reporting

We take great pains to ensure that the articles, video and graphics you see on Credit.com are thoroughly reported and fact-checked. Each story is read by two separate editors, and we adhere to the highest editorial standards. We’re not perfect, however, and if you see something that you think is wrong, please email us at editorial team [at] credit [dot] com,

The Credit.com editorial team is committed to providing our readers and viewers with sound, well-reported and understandable information designed to inform and empower. We won’t tell you what to do. We will, however, do our best to explain the consequences of various actions, thereby arming you with the information you need to make decisions that are in your best interests. We also write about things relating to money and finance we think are interesting and want to share.

In addition to appearing on Credit.com, our articles are syndicated to dozens of other news sites. We have more than 100 partners, including MSN, ABC News, CBS News, Yahoo, Marketwatch, Scripps, Money Magazine and many others. This network operates similarly to the Associated Press or Reuters, except we focus almost exclusively on issues relating to personal finance. These are not advertorial or paid placements, rather we provide these articles to our partners in most cases for free. These relationships create more awareness of Credit.com in general and they result in more traffic to us as well.

Our Business Model

Credit.com’s journalism is largely supported by an e-commerce business model. Rather than rely on revenue from display ad impressions, Credit.com maintains a financial marketplace separate from its editorial pages. When someone navigates to those pages, and applies for a credit card, for example, Credit.com will get paid what is essentially a finder’s fee if that person ends up getting the card. That doesn’t mean, however, that our editorial decisions are informed by the products available in our marketplace. The editorial team chooses what to write about and how to write about it independently of the decisions and priorities of the business side of the company. In fact, we maintain a strict and important firewall between the editorial and business departments. Our mission as journalists is to serve the reader, not the advertiser. In that sense, we are no different from any other news organization that is supported by ad revenue.

Visitors to Credit.com are also able to register for a free Credit.com account, which gives them access to a tool called The Credit Report Card. This tool provides users with two free credit scores and a breakdown of the information in their Experian credit report, updated twice monthly. Again, this tool is entirely free, and we mention that frequently in our articles, because we think that it’s a good thing for users to have access to data like this. Separate from its educational value, there is also a business angle to the Credit Report Card. Registered users can be matched with products and services for which they are most likely to qualify. In other words, if you register and you find that your credit is less than stellar, Credit.com won’t recommend a high-end platinum credit card that requires an excellent credit score You’d likely get rejected, and that’s no good for you or Credit.com. You’d be no closer to getting a product you need, there’d be a wasted inquiry on your credit report, and Credit.com wouldn’t get paid. These are essentially what are commonly referred to as "targeted ads" in the world of the Internet. Despite all of this, however, even if you never apply for any product, the Credit Report Card will remain free, and none of this will impact how the editorial team reports on credit and credit scores.

Our Owners

Credit.com is owned by Progrexion Holdings Inc. which is the owner and administrator of a number of business related to credit and credit repair, including CreditRepair.com, and eFolks. In addition, Progrexion also provides services to Lexington Law Firm as a third party provider. Despite being owned by Progrexion, it is not the role of the Credit.com editorial team to advocate the use of the company’s other services. In articles, reporters may mention credit repair as an option, for example, but we’ll also be sure to note the various alternatives to that service. Furthermore, you may see ads for credit repair services on Credit.com, but the editorial team isn’t responsible for the creation or implementation of those ads, anymore than reporters for the New York Times or Washington Post are responsible for the ads on their sites.

Your Stories

Lastly, much of what we do is informed by our own experiences as well as the experiences of our readers. We want to tell your stories if you’re interested in sharing them. Please email us at story ideas [at] credit [dot] com with ideas or visit us on Facebook or Twitter.

Thanks for stopping by.

- The Credit.com Editorial Team