bank rates

Capital One Promotion Worth $1,100

Known for its popular ad campaigns, Capital One continues to market the Venture line of credit cards like no other.

Match My Miles challenge rewards cardholders with up to 100,000 milesIt’s hard to have missed the ads featuring Vikings stumbling around the world, racking up miles with their Capital One Venture Card. Now, pitchman Alec Baldwin is promoting the Match My Miles Challenge, where potential cardholders can sign up for a Venture Card and receive up to 100,000 miles.

Earning the 100,000-mile bonus is quite simple.

First, you must have miles on an existing credit card. Then, you must apply and be approved for any Capital One Venture card and submit proof of miles from the other credit card.

Capital One will match up to 100,000 miles.

Finally, once you charge $1,000 on the new Venture Card (which must be done within 90 days), Capital One will credit the bonus miles to your account.

Capital One has made a very strong play to draw consumers away from other credit card issuers. With this campaign, the company is trying to lure a tough set of consumers: People loyal to another card’s miles program.

For this promotion to be worthwhile, you must have earned lots of miles elsewhere and be willing to sign up for another credit card.

Granted, the Capital One Venture card is most likely just as good as your current rewards card. That being said, we have had mixed feelings about the Venture cards in the past.

You earn miles for every dollar spent (miles differ based on which Venture card you choose), and it charges between a variable 11.9% and 19.9% APR (prime plus 10.74%) and includes a $59 annual fee, which is waved during the first year.

Excellent credit is required, and this promotion ensures that Capital One will only pick up new cardholders who use credit cards often, making this a home-run of an idea.

100,000 Venture miles is equivalent to $1,000 in cash, making this promotion one of the richest ever offered to consumers. Plus, new Venture cardholders are entitled to 10,000 bonus miles, again when spending $1,000 within the first three months, making this promotion worth $1,100 in travel.

Unfortunately, there is a time limit to take advantage of this promotion, although Capital One’s deadline is murky.

According to its website, “Once 1 billion miles have been matched, the promotion is terminated.” Tough to tell just how long that means, but any consumer with good mileage on another card should consider signing up for a Venture Card soon.

Up to $1,100 is just too good to pass up, even with a $59 annual fee.

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (1)
1 Star2 Stars3 Stars4 Stars5 Stars (5 votes, average: 3.40 out of 5)
Loading...
One Existing Comment
  1. Paul said:
    on June 2nd at 10:42 am

    As soon as my CD is up (3%) I’m pulling my Capitol One account. I don’t support businesses tha hire Obama lecture. Baldwin and that other idiot Fallon