Capital One vs. Bank of America Credit Cards [2024]: Who Wins?

When deciding between Capital One versus Bank of America credit cards, we often prefer Capital One. We believe Capital One credit cards have better base earning rates and benefits than Bank of America credit cards.

We especially like the Capital One Venture Rewards Credit Card and Capital One Venture X Rewards Credit Card over similar cards from Bank of America. This is because their simple earning rates make it easy to avoid carrying multiple cards in your wallet.

But despite our general preference, we think Bank of America credit cards excel in certain scenarios, such as having a long intro APR offer from a card like the BankAmericard^® credit card. Or if you qualify for the Bank of America Preferred Rewards® program and can boost your earning potential by up to 75%.

Key takeaways

• Bank of America is the second largest bank in the U.S., whereas Capital One is the ninth largest. Chase is first, Wells Fargo is third, and Citi is fourth.
• Capital One has more than 15 transfer partners compared to zero for Bank of America.
• Both Capital One and Bank of America provide various credit card types, including travel, business, student, secured, balance transfer, and cashback rewards cards.
• We generally recommend Capital One over Bank of America because Capital One credit cards tend to have better earning rates and benefits.
• Bank of America can make more sense in some situations, for example, if you qualify for the Bank of America Preferred Rewards®’ 25% to 75% rewards bonus.

Comparison of Capital One vs. Bank of America credit cards

Our verdict

Capital One is our overall recommended option because its cards are generally easy to use. In like-to-like comparisons with Bank of America cards, Capital One tends to come out on top. We also like that Capital One has transfer partners, which you won’t find with Bank of America.

Capital One benefits and drawbacks

You can choose between 31 different Capital One cards, including personal and business credit cards. This gives you many options when looking for a card that aligns with your preferences, spending habits, and financial goals.

We like how Capital One has a robust rewards program that provides plenty of earning and redemption options, including transferring miles to travel partners on eligible cards. Capital One especially impresses with its cards that provide high earning rates on any eligible purchase rather than specific categories.

That said, we don’t think Capital One is the best option for you if you prefer visiting in-person branches, as it has a limited number of locations. Also, keep in mind that Capital One may have an unofficial rule of not allowing more than two Capital One consumer cards at once. Since this isn’t an official rule, there appear to be some exceptions that allow you to have more than two cards, such as secured cards and co-branded store cards.

Learn more about Capital One credit cards.

Bank of America benefits and drawbacks

Bank of America provides more than 22 personal and business credit cards to choose from, including travel, cash back, and low-interest cards.

We think Bank of America does an excellent job with having intro APR offers on many of its cards, which can be helpful if you have upcoming large expenses or want to do a balance transfer.

Bank of America has a unique and valuable benefit with its Bank of America Preferred Rewards® program (or Bank of America Preferred Rewards® for Business for eligible small business cards). This free-to-join program can help boost your credit card earnings by 25% to 75%, which is something you can’t find with other card issuers.

But the requirements can be steep to become a Bank of America Preferred Rewards® member, requiring at least a $20,000 average daily balance in your eligible accounts over a three-month period to qualify for the 25% boost. The requirement increases to at least a $100,000 three-month average daily account balance for the 75% boost. We also don’t like that there’s no option to transfer points to travel partners with Bank of America travel cards.

Learn more about Bank of America credit cards.

0% intro APR: Capital One Quicksilver Cash Rewards Credit Card vs. BankAmericard^® credit card

The main thing Capital One Quicksilver and BankAmericard cards share is that they both have intro APR offers.

As far as intro APR offers go, we prefer the BankAmericard because of its lengthy intro APR periods that can help you save on interest charges for longer. However, it earns no rewards.

If you want to earn rewards and don’t need as long of an intro APR period, you may prefer the Capital One Quicksilver.

Note that you can also find Bank of America credit cards that provide ongoing rewards and intro APR offers. For example, the Bank of America^® Unlimited Cash Rewards credit card provides:

• Unlimited 1.5% cash back on all purchases
• 0% intro APR for 15 billing cycles for any balance transfers made in the first 60 days (then 18.74% - 28.74% Variable)
• 0% intro APR on purchases for 15 billing cycles (then 18.74% - 28.74% Variable)

Cash back: Capital One Savor Cash Rewards Credit Card vs. Bank of America^® Customized Cash Rewards credit card

Both the Capital One Savor Cash Rewards Credit Card and Bank of America^® Customized Cash Rewards credit card provide decent earning rates on different categories.

The Bank of America Customized Cash Rewards makes it easy to control how you earn rewards by letting you select certain bonus categories, including gas, travel, or dining. But there’s a limit to how much you can earn each quarter with the highest earning rates on the Bank of America Customized Cash Rewards.

For this reason, we prefer the Capital One Savor because it doesn’t have a spending cap on its rewards rate.

Bank of America Preferred Rewards® members can boost their eligible credit card earnings by 25% to 75%. Keep in mind you need at least between $20,000 and $100,000 in eligible accounts’ average daily balance over a three-month period to qualify.

But even with that potential boost, we still think the Capital One Savor has the better earning potential in this matchup.

Travel rewards: Capital One Venture Rewards Credit Card vs. Bank of America^® Premium Rewards^® credit card

The Capital One Venture Rewards and Bank of America Premium Rewards share a few similarities between their rewards rates and annual fees. Either card can function as a low-annual-fee option for someone interested in earning rewards and redeeming them for travel.

But we think the Capital One Venture shines with its better overall earning rate and redemption options. For example, you can use the Capital One Travel portal to redeem miles for flights, hotel stays, and car rentals.

And you can also redeem miles to cover past travel purchases or transfer miles to many transfer partners, such as Air Canada Aeroplan and British Airways Executive Club. Having these options gives you more flexibility with your rewards.

Keep in mind that Bank of America Preferred Rewards® members can boost their earnings with eligible credit cards by 25% to 75%. The 25% boost requires at least $20,000 in average daily balance among eligible accounts for three months, while the 75% boost requires at least $100,000.

In the case of the Bank of America Premium Rewards, that may give you a better base earning rate than the Capital One Venture Rewards.

Luxury travel perks: Capital One Venture X Rewards Credit Card vs. Bank of America^®️ Premium Rewards^® Elite Credit Card

There’s a lot going for the Bank of America Premium Rewards Elite, including up to $550 in various annual credits, which can help offset the $550 annual fee. You also receive complimentary Priority Pass lounge access.

But we think the Capital One Venture X is better. It has a lower $395 annual fee, and its annual credits and benefits are likely easier to use because they involve common travel redemptions. With the Venture X, you also get more lounge access, including Priority Pass, Capital One, and Plaza Premium Lounges.

Note that Bank of America Preferred Rewards® members with average daily balances between $20,000 and $100,000 over three months can boost their eligible credit card earnings by 25% to 75%. Here’s what that could mean for Bank of America Premium Rewards Elite cardholders:

Which credit card issuer should you choose?

When you should choose Capital One:

• You already have a relationship with Capital One and want to keep your banking services under one roof.
• You prefer using one card with an elevated rewards rate for all eligible purchases.
• You don’t mind primarily using online banking services and a mobile app rather than visiting in-person locations.
• You want to take advantage of Capital One transfer partners, including Air France KLM, Emirates, and Wyndham.

When you should choose Bank of America:

• You already have a relationship with Bank of America and want to keep your banking services under one roof.
• You want long intro APR offers.
• You like having in-person branches and ATMs to visit if needed.
• You prefer cash-related redemption options, such as bank deposits.

We generally recommend Capital One credit cards over Bank of America credit cards because they tend to have better rewards rates and benefits. But that doesn’t mean everyone should choose Capital One over Bank of America, as it depends on your spending habits and personal preferences.

Where Bank of America shines is with its intro APR offers. Capital One can’t compete with the intro APR periods you can find on many Bank of America cards, including the BankAmericard.

However, the Bank of America Preferred Rewards® program is an exclusive benefit that can provide considerable value. If you qualify as a Bank of America Preferred Rewards® member, you’d get a 25% to 75% earnings boost. But not everyone has enough money saved up to qualify, as the program requires $20,000 to $100,000 in average daily balance over a three-month period to qualify.

FAQ

Capital One vs. Bank of America: Bottom line

We generally recommend Capital One over Bank of America because it offers better base earning rates and benefits. That doesn’t mean Bank of America isn’t competitive, but we think Capital One has the more rewarding credit cards.

However, Bank of America credit cards might offer more value if you qualify for its Bank of America Preferred Rewards® program and can get a 75% boost on your credit card rewards. Keep in mind that qualifying for the 75% boost has a daily average minimum balance requirement of $100,000 among eligible accounts over three months.

Bank of America also does a better job of providing valuable intro APR offers on many of its credit cards. Check out our dedicated page to compare credit cards and find the right credit card for you. You can even look at specific card comparisons, such as Chase Freedom Unlimited vs. Bank of America Customized Cash Rewards credit card, for a closer look at various cards and their benefits.

Lucrative, Flat-Rate Cash Rewards

Wells Fargo Active Cash^® Card

5.0

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

Wells Fargo Active Cash^® Card

Apply Now

Rates and fees

Current Offer

$200 cash rewards bonus after spending $500 in purchases in the first 3 months

Annual Fee

$0

Rewards Rate

Earn unlimited 2% cash rewards on purchases

Benefits and Drawbacks

Benefits

• Low spend threshold for its welcome offer — $200 cash rewards bonus after spending $500 in purchases in the first 3 months
• Cell phone protection benefit (subject to a $25 deductible)
• Can redeem rewards at an ATM for literal cash

Drawbacks

• Foreign transaction fee of 3%
• No bonus categories

Card Details

• Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
• Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
• Earn unlimited 2% cash rewards on purchases.
• 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 19.49%, 24.49%, or 29.49% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
• $0 annual fee.
• No categories to track or remember and cash rewards don’t expire as long as your account remains open.
• Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
• Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.