Bank of America Customized Cash Rewards vs. Capital One Venture Rewards: card comparison
When it comes to picking a new credit card, there are a lot of options to choose from. Bank of America and Capital One offer great rewards cards, but which one is right for you? Take a look at our comparison to help you decide between Bank of America Customized Cash Rewards or Capital One Venture Rewards!
Bank of America Customized Cash Rewards or Capital One Venture Rewards: which is the best?
Are you having a hard time deciding between the Bank of America Customized Cash Rewards or Capital One Venture Rewards credit cards? If you’re looking for enticing rewards and sign-up bonuses, they’re both excellent choices.
To choose between them, first, you need to understand what rewards would be more useful in your daily life. If you don’t travel much but spend a considerate amount of money on online shopping or dining, a product that offers cash back rewards might fit your needs.
However, if you’re constantly on the road, a credit card that offers travel benefits can help you cover your expenses and upgrade your experience.
The Bank of America Customized Cash Rewards or Capital One Venture Rewards credit cards belong in different card categories. However, they both have a lot to offer. In this comparison, you will learn their main characteristics and pros and cons. That way, you can decide which product is best for you. Keep reading to find out!
Learn how to apply for the Bank of America Customized Cash Rewards card and get yourself a credit card with a rewards program that you can tailor to your spending habits.
|Bank of America Customized Cash Rewards||Capital One Venture Rewards|
|Sign-up bonus||$200 online cash rewards after at least $1000 in purchases within the first 90 days of account opening||60.000 miles after spending $3.000 on purchases within the first 90 days of account opening|
|Rewards||Customizable cash back;|
No annual fee;
Generous APR intro
|2 miles per dollar spent;|
5 miles per dollar spent on travel services booked by Capital One Travel
|Other perks||3% cashback in different categories;|
2% cashback in groceries or wholesale clubs
|High rewards rate;|
Flexible redemption options;
No foreign transaction fee;
|APR||13.99% – 23.99% (variable)||15.99% – 23.99% (variable)|
Bank of America Customized Cash Rewards
The Bank of America Customized Cash Rewards credit card has a unique feature that might appeal to many new customers. It allows cardholders to choose their 3% cash back rewards from different categories. And you can change your selection once a month.
It offers a 0% annual fee and a 0% intro APR for the first 15 months on purchases and all balance transfers made within the first two months. Its sign-up bonus provides an easy-to-obtain $200 online cash reward after spending at least $1000 during the first three months of use.
Existing Bank of America clients who qualify for their Preferred Rewards Program can earn up to 75% more cash back on their chosen category. The card also provides 2% cashback in grocery shopping or wholesale clubs. You can also get 1% on any other purchases. However, its spending caps of $2.500 on all rewards combined might be an issue for big spenders.
Visa issues this card, and it’s accepted worldwide. It’s an excellent card to cover basic expenses and boost your rewards rate.
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- Power to choose your 3% cash back category.
- No annual fee.
- A fair APR intro.
- Preferred Rewards Program earns more cash back.
- Sign-up bonus offer.
- Spending caps on rewards
- Requires good or excellent credit scores
- If you’re not part of the loyalty program, rewards rates are not as high.
Capital One Venture Rewards
The Capital One Venture Rewards is one of the most popular credit cards in its category. If you’re looking for a great card with many travel benefits, this one is the right choice for you. The company offers an incredible sign-up bonus of 60.000 miles for new cardholders if you spend $3.000 in purchases within the first 90 days of opening the account.
Its high rewards rate provides 2 miles per dollar spent on purchases and 5 miles per dollar paid on travel-related expenses through the Capital One Travel bookings. The flexibility to redeem your rewards is a bonus. And the redemption is almost effortless as you continue to use the card to pay for your daily spending.
Unfortunately, the card provides no intro APR and charges an annual fee of $95. However, the rewards earned with this card might still make it worth it for frequent travelers. But, if you’re looking for good cash back bonuses instead of travel rewards, you may get a much greater value from other credit cards in that category.
- Flexible rewards redemption.
- Big rewards rate.
- No foreign transaction fees.
- Travel insurance and rental car coverage.
- Generous sign-up bonus.
- Charges a $95 annual fee
- No APR intro
- Requires good or excellent credit
- Bad cash back options
Bank of America Customized Cash Rewards or Capital One Venture Rewards: which you should choose?
Now that you’ve seen all that the Bank of America Customized Cash Rewards and the Capital One Venture Rewards cards have to offer, it’s a lot easier to choose which one benefits you more.
If you’re looking for a card that charges no annual fee and provides satisfying cash back rewards, the Bank of America Customized Cash Rewards will suit your needs.
But if you are a frequent traveler and you’re searching for a product in which you can use its rewards to pay for travel expenses, the Capital One Ventur Rewards card is easily the best option.
And if you’re looking for a third option, check out the US Bank Altitude® Go Visa Signature® Card review in the link below. With its 0% annual fee and plenty of reward options, this card might be just what you’re looking for.
About the author / Aline Barbosa
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