The Premier League duo were held by Northumbria Police on Thursday following an incident in Newcastle city centre on December 6.
The players, both 23, have now been released on bail until February 7.
The incident took place on Stowell Street, not far from St James' Park, the stadium of arch-rivals Newcastle United.
The alleged damage is believed to have involved at least three cars. Police are scouring CCTV images of the area.
Neither player was on the pitch for manager Martin O'Neill's first game in charge of Sunderland last weekend, a last-minute win over Blackburn.
Club captain Cattermole was suspended after picking up five yellow cards this season, while Bendtner had a groin injury.
Bendtner, a Danish international, is currently on loan to Sunderland from Arsenal.
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