Colorado,

Luckily for you, it sounds like you have the original Travelocity mastercard, now grandfathered into the AMEX, that offered 2 points per dollar spent anywhere. That's clearly the better card, but no longer available.

The comparison I was making is based on what products are CURRENTLY available now for someone who was deciding on a new card between the two options.

Also, as an additional point in favor of the Capital One card, you can also redeem their miles for awards such as gift cards and certs that would yield a greater return on $$ spent on the card.