The tensile creep behavior of two oxide/oxide ceramic–matrix composites (CMCs) was investigated at 1200 °C in laboratory air, in steam, and in argon. The composites consist of a porous oxide matrix reinforced with laminated, woven mullite/alumina (Nextel™720) fibers, have no interface between the fiber and matrix, and rely on the porous matrix for flaw tolerance. The matrix materials were alumina and aluminosilicate. The tensile stress–strain behavior was investigated and the tensile properties were measured at 1200 °C. Tensile creep behavior of both CMCs was examined for creep stresses in the 80–150 MPa range. Creep run-out defined as 100 h at creep stress was achieved in air and in argon for stress levels ≤100 MPa for both composites. The retained strength and modulus of all specimens that achieved run-out were evaluated. The presence of steam accelerated creep rates and reduced creep life of both CMCs. In the case of the composite with the aluminosilicate matrix, no-load exposure in steam at 1200 °C caused severe degradation of tensile strength. Composite microstructure, as well as damage and failure mechanisms were investigated. Poor creep performance of both composites in steam is attributed to the degradation of the fibers and densification of the matrix. Results indicate that the aluminosilicate matrix is considerably more susceptible to densification and coarsening of the porosity than the alumina matrix.