Bank Of America Travel Rewards Vs Capital One Venture
Are you planning for your next vacation and looking for a credit card that can maximize your rewards? With so many credit card options available in the market, it can be overwhelming to choose the one that suits your needs. Two popular travel rewards credit cards are Bank of America Travel Rewards and Capital One Venture. This article will compare and contrast the features of these credit cards to determine which one is the best fit for you.
Bank of America Travel Rewards
Bank of America Travel Rewards is a travel credit card that offers unlimited 1.5 points for every dollar spent on purchases. Cardholders can redeem their points for flights, hotels, vacation packages, cruises, rental cars, or baggage fees. This credit card has no annual fee or foreign transaction fees, and it provides an introductory 0% APR for 12 billing cycles for purchases.
One unique feature of Bank of America Travel Rewards is that cardholders can earn extra points by using the card to purchase travel through the Bank of America Travel Center. They can earn 3 points per dollar spent on flights, hotels, and rental cars. Additionally, Bank of America Preferred Rewards members can earn up to 75% more points on every purchase, depending on their tier level. To become a Preferred Rewards member, you need to have an eligible Bank of America account and maintain a 3-month average combined balance of at least $20,000 or more.
Capital One Venture
Capital One Venture is another popular travel rewards credit card that allows cardholders to earn unlimited 2 miles per dollar spent on purchases. Cardholders can redeem their miles for travel expenses such as airfare, hotels, rental cars, and more. This credit card has an annual fee of $95, which is waived for the first year, and it does not have foreign transaction fees.
One of the unique features of Capital One Venture is that cardholders can earn a one-time bonus of 60,000 miles (equal to $600 in travel) after spending $3,000 on purchases within the first 3 months of opening the account. Additionally, this credit card provides up to $100 application fee credit for Global Entry or TSA PreCheck.
Comparison
Both Bank of America Travel Rewards and Capital One Venture offer lucrative rewards for frequent travelers. However, there are some key differences between the two credit cards that you should consider before making a decision.
Annual fee: Bank of America Travel Rewards does not have an annual fee, while Capital One Venture has an annual fee of $95 (waived for the first year).
Rewards rate: Bank of America Travel Rewards offers 1.5 points per dollar spent on purchases, while Capital One Venture offers 2 miles per dollar spent on purchases.
Bonus offer: Capital One Venture offers a one-time bonus of 60,000 miles after spending $3,000 on purchases within the first 3 months of opening the account, while Bank of America Travel Rewards does not offer any sign-up bonus.
Foreign transaction fees: Bank of America Travel Rewards does not have foreign transaction fees, while Capital One Venture does not charge foreign transaction fees.
Conclusion
In conclusion, both Bank of America Travel Rewards and Capital One Venture are great travel rewards credit cards that offer lucrative benefits. If you are looking for a credit card with no annual fee and want to earn points for everyday expenses, Bank of America Travel Rewards can be a good option. However, if you are a frequent traveler and willing to pay an annual fee for premium benefits, Capital One Venture can provide more value. Ultimately, the choice depends on your spending habits, travel goals, and reward preferences.