Comparison (US)

Customized Cash Rewards or Venture Rewards?

Deciding between the Bank of America® Customized Cash Rewards Credit Card and the Capital One Venture Rewards Credit Card? Check out this comparison to see which card is better for you!

Bank of America® Customized Cash Rewards Credit Card vs. Capital One Venture Rewards Credit Card: which one is better?

Check out which of these credit cards is best for you. Source: The Mister Finance.
Check out which of these credit cards is best for you. Source: The Mister Finance.

If you’re looking to maximize the rewards and value of your credit card, then you should definitely consider the Customized Cash Rewards or the Venture Rewards Card.

Both cards offer exceptional value when it comes to earning cash back rewards on everyday purchases, with no annual fee and a variety of personalized offers tailored to your spending habits.

Whether you’re a frequent traveler looking for an airline travel companion or just want more bang for your buck on groceries and other daily purchases, these cards have something for everyone!

The Bank of America Cash Rewards credit card offers very great cash back rewards to its cardholders. You can even get some other perks if you are an investing customer of Bank of America. Also, the card has no annual fee, and you can choose your spending bonus categories (terms apply).

The Capital One Venture Rewards credit card has a high rewards rate and flexible redemption. However, it has an annual fee. This card also has great perks for its cardholders and a great welcome bonus. And you will get a good view of this card in this post.

If you already want to know about the application process for both these cards, just go to the recommended posts below, and you will get some great information about how to apply for these cards!

Bank of America® Customized Cash Rewards credit card

How to get the BofA Customized Cash Rewards

Read on to learn how you can apply and start earning cash back rewards with the Bank of America® Customized Cash Rewards credit card.

Capital One Venture Rewards Credit Card

How to get the Capital One Venture Rewards card?

Come and check how you can apply for the capital one venture rewards card and benefit from its many perks and travel opportunities.

Check out our table comparing some features of the two cards

Customized Cash Rewards Credit CardVenture Rewards Credit Card
Sign-up bonus*$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 3 months of account opening.75,000 miles once you spend $4,000 on purchases within 3 months from account opening
*Terms apply
Annual fee$0$95
Rewards*3% cash back in the category of your choice;
2% at grocery stores and wholesale clubs (up to $2,500 in combined quarterly purchases);
Unlimited 1% on all other purchases.

*Terms apply
2x unlimited miles on every purchase;
$100 credit for Global Entry or TSA PreCheck®;
5X miles on hotels and rental cars booked through Capital One Travel.

*Terms apply
Other perks*People who are able to be members of the Bank of America Preferred Rewards Program might get higher ratese

*Terms apply
Earn 2X miles (unlimited) on every spending
Your miles will not expire
No foreign transaction fees

*Terms apply
APR0% intro APR for 18 billing cycles;
16.99% – 26.99% Variable APR after that period.
18.99% – 26.99% variable APR

Bank of America® Customized Cash Rewards Credit Card

What are the features and benefits of this card? Source: The Mister Finance.
What are the features and benefits of this card? Source: The Mister Finance.

The Bank of America® Customized Cash Rewards credit card offers great rewards to its cardmembers. Such as the 3% cash back in a category of your choice, you can change your chosen categories once every month. The card also offers 2% back for purchases made at grocery stores and wholesale clubs.

However, these bonuses have a spending cap of $2,500 when you chose and combine categories or grocery stores or wholesale clubs that you want to spend at. But the card has no annual fee, and it can offer a generous intro APR offer of 0%.

Also, if you are a member of the Bank of America Preferred Rewards program, you can get higher rates. If you have a Bank of America account or a Merrill account, both having a balance of about $20,000 to $49,999, you can get a rewards bonus of 25%.

Capital One Venture Rewards Credit Card

What's so special about the Venture Rewards Card? Source: The Mister Finance.
What’s so special about the Venture Rewards Card? Source: The Mister Finance.

The Capital One Venture Rewards credit card has great perks and rewards for its card members. As a new cardholder, you can get a bonus of 60 thousand miles after you spend 3,000 dollars on qualifying purchases in the first three months after opening your account.

Cardholders can also get unlimited 2X Miles on every spend they make, on any day. This card also offers the benefit of not having your miles expire as long as you have your account. Also, the card does not limit the amount that you can get.

Also, this card has no foreign transaction fees, and you can make many redemptions related to travel. Such as on flights, car rentals, holidays, and many more. As a cardholder, you can also get your miles transferred to more than 15 different travel loyalty programs.

However, this card has a relatively high annual fee, and it can limit its flexibility on its rewards. But you can try to use the card as best as you can to make the annual fee worth it. Also, we recommend that you have a very high credit score if you want to apply for this Capital One credit card.

Benefits of the Bank of America alternative

  • There is no annual fee.
  • This card offers great cash back rewards.
  • There is a great welcome offer of a $200 online cash reward bonus (terms apply).
  • Generous intro APR offer of 0%.

Pre-approved credit cards for low credit score available now

We analyzed your profile and found some offers that you can apply for today.

You will be redirected to another website

Benefits of the Capital alternative

  • There is no foreign transactions fee.
  • The card has a very flexible redemption for the rewards offered.

Customized Cash Rewards disadvantages

  • This card has some relatively complicated rewards.
  • The card has spending caps on its rewards.
  • Some relatively limited options of redemptions are included in this card. To get the redemptions for statement credit, you have to be a Bank of America or Merrill customer, not just a regular cardholder.
  • This card charges a 3% foreign transaction fee.

Disadvantages of the Capital One Venture Rewards

  • Annual fee of $95.
  • Even though the rewards are very flexible, they can be limited.
  • You will need a very good to excellent credit score to apply for this card.

Which credit card should you choose?

Before choosing between the Customized Cash Rewards and the Venture Rewards, analyse your personal finances. We recommend that you do this because a credit card can be good for someone and not so good for you.

So, returning to the cards in question, the Customized Cash Rewards card has some benefits for people who spend inside the spending cap for its rewards. Also, this card has some much better perks for people who have more money in their accounts and are more premium.

And the Venture Rewards card has an annual fee, unlike the Bank of America card. However, the Capital One card offers some more perks and rewards related to travel.

With that being said, if you like to travel and get rewards and can afford the annual fee, this Capital one card can be your choice.

Overall, both the Customized Cash Rewards and the Venture Rewards are solid options for anyone who would like to earn more for their money.

If you want to learn more about another great cash back card, check out our post below with an overview of the Citi Custom Cash℠ Card!

Citi Custom Cash℠ Card

How to apply for Citi Custom Cash℠ credit card

The Citi Custom Cash℠ credit card allows you to receive cashback on all purchases. See how to apply for it!

The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

About the author  /  Victória Lourenço

Victória Lourenço is part of the finance writer team for The Mister Finance website. She is a translator and copywriter, having worked on finance topics for over four years. She has a goal to keep studying finances to help people learn more about how to use their credit cards, make loans, and use other money-related products in a way that they can find a more meaningful and healthy financial life!

Reviewed by  /  Aline Barbosa

Senior Editor

Trending Topics

content

How to apply for a Capital One Platinum Secured card?

Check out how easy and fast it is to apply for a Capital One Platinum Secured and start rebuilding your credit right away with confidence.

Keep Reading
content

How to use an American Airlines flight credit?

Check out how easy it is to use an American Airlines flight credit after canceling or even not using your American Airlines flight ticket.

Keep Reading
content

Free debit cards for kids

Check out the free debit cards for kids. We have selected the ten best options for you so you choose which makes more sense to your family.

Keep Reading

You may also like

content

Group One Platinum Card review: No credit check

A Group One Platinum Card full review to find out how it works and what comes with its membership. Pay no interest rate! Read on!

Keep Reading
content

Marriott Bonvoy Boundless® Credit Card application: how does it work?

Looking for an easy way to gain travel rewards? Consider applying for the Marriott Bonvoy Boundless® Credit Card and start enjoying amazing benefits! Here are a few simple steps to get started on your journey.

Keep Reading
content

Hassle-free process: Apply for Best Egg Visa® Credit Card

Learn about the advantages and steps involved with applying for the Best Egg Visa® Credit Card - $0 annual fee! Improve your credit score quickly!

Keep Reading