The account was previously handled by AMV's Omnicom sister agency DDB London.
The account was moved by mutual agreement owing to creative differences between the agency and the client.
Justin Basini, the vice-president of brand marketing at Capital One, said: "This is a really exciting time to be promoting our brand. We're looking forward to working to find new and engaging ways to bring our cards, services and brand to life."
The chief executive at AMV, Farah Ramzan Golant, added: "Capital One is a breakout, pioneering business. We are excited about the challenge to accelerate the belief and action of their consumers."
Capital One works with both DDB and BBDO in the US through their Chicago and Atlanta offices respectively.
DDB's London office picked up the account in 2005, when the US business moved out of McCann Erickson into DDB Chicago.
Last October, the company appointed Partners Andrews Aldridge to handle a series of direct marketing projects promoting its Capital One Cashback card.