Capital One 100,000 Point Signup (Matching) Bonus is Back

Discussion in 'General Discussion | Miles/Points' started by gleff, Mar 7, 2012.  |  Print Topic

  1. gleff
    • Original Member

    gleff Co-founder

    Capital One has brought back the 100,000 point signup bonus on their Venture card.

    The card earns two points per dollar, each point being worth a penny, roughly speaking it’s a 2% cash back card where the cash has to be spent on travel or on gift cards they offer.

    For folks who aren’t looking for premium cabin international air awards from their credit card spend — if you want domestic coach trips especially — then this is a reasonable card (though I still prefer the straight 2% cash back from the Fidelity American Express).

    Last year, Capital One offered this and it applied to both the personal and the small business card. You had to provide a mileage statement showing 100,000 miles in it to get your points matched to 100,000 by Capital One.

    This year it’s a little bit harder — they want to see your year-end credit card summary statement and they’ll match two points for every dollar you spent, up to 100,000.

    In other words, you have to demonstrate $50,000 in spending on a single credit card to get the full 100,000 point bonus — rather than just showing a balance of 100,000 miles in a frequent flyer account.

    Last year also it was possible to get a personal and small business card, it doesn't appear this offer applies to a small business card this year.

    Last year — and what I did — there were redemption offers for hotel gift certificates where the value was significantly greater than 1 cent per point. I redeemed all my points for Hyatt gift certificates at ~ 1.7 cents a point.

    100,000 points always grabs attention. These aren’t frequent flyer miles that’ll be useful for aspirational awards. Instead, if you qualify for the full signup bonus it’s $1000 cash to spend on travel, more or less.

    The offer is supposed to remain open until they’ve awarded a billion points. Last year that meant from March 9 through April 5. My guess is the points won't go as quickly this year — because fewer people have spent $50,000 on a single rewards card in a year and fewer people still actually saved their year-end summary statements (goodness knows I don’t save mine). I’m trying to find out as well whether any alternate method of proof will work to qualify for the points matching offer.

    Some folks will balk at the notion that Capital One pulls three different credit reports (one from each of three credit bureaus) when you apply for the card. To me it’s worth it, but I’ve already had the card from last year’s offer so I won't be able to get this bonus again.
    Espan, Kalboz, uggboy and 3 others like this.
  2. MDDCFlyer

    MDDCFlyer Silver Member

    I don't think I'm going to bother with this one. Too much work for too little gain.
  3. RestlessLocationSyndrome
    • Original Member

    RestlessLocationSyndrome Silver Member

    This offer is completely irrelevant except for the biggest spenders. There are multiple offers out there which are better and won't even have the 3 credit pulls.

    Pass.
    Espan, Scottrick and PanAm like this.
  4. schnitzel
    • Original Member

    schnitzel Gold Member

    FYI - on the Citibank site, you can request an annual summary to see if you've got a good qualifying card on your hands.

    I requested mine about 12 hours ago. I still have this:

    autolycus likes this.
  5. sharris503

    sharris503 Silver Member

    Any bets on how much longer this offer stays open compared to last year?
  6. autolycus

    autolycus Gold Member

    It's even easier to get the annual summary for Amex cards. Just login to your account on the website, click on Statements and Activity at the top, and then select "Year End Summary" from the "Time Period" dropdown. Or, you can highlight over "Statements and Activity" and click on "Spend Analysis (Year End Summary)".
    schnitzel and miles and smiles like this.
  7. schnitzel
    • Original Member

    schnitzel Gold Member

    MUCH, MUCH longer - they really winnowed down the pool of people who'll bother applying.

    Between the new rules and the three credit report hits, they're being pretty discriminating here. "Responsible" is another word that comes to mind. Also, "targeted."
  8. schnitzel
    • Original Member

    schnitzel Gold Member

    Yup - I've looked at that for my SPG, but I'm not sure how I'd send that in, if that's the card I choose ($39K there last year).
  9. cliburn
    • Original Member

    cliburn Silver Member

    Plus alot of people already have Venture cards...
  10. PanAm
    • Original Member

    PanAm Silver Member

    Yeah, for folks with deep pockets, or who can put large reimbursable expenses on a personal card, or who really do only use one main card, it may be worth it at 50K spend. I suppose the wife and I might be just under 25K at most for the year if we had only used one single card - still not attractive compared to other offers.

    Had they rolled back out last year's same offer, I'd be all over it like white on rice. WIth this new offer, pass as well.
  11. autolycus

    autolycus Gold Member

    I forgot to mention that you can download a PDF by clicking on a link to the top-right of the statements and activity page.

    Unfortunately, my best card is ~$22k. I don't think it's worth it for me. I'm a new card signer-upper, so I'll likely go for Sapphire Preferred, AAx2, Barclay's US Air, and/or an Amex instead.
  12. schnitzel
    • Original Member

    schnitzel Gold Member

    I've got the AA Exec card for my wife that got her over the 1MM on AA. I used it for business to get over the hump, so I think she'll fully qualify on that basis. Fortunately, it's not a business card.
    autolycus likes this.
  13. schnitzel
    • Original Member

    schnitzel Gold Member

    Wait:

    So I need a passcode?
  14. schnitzel
    • Original Member

    schnitzel Gold Member

    OK - no passcode needed on the other site.

    Applied for my wife. Denied! That's what I get for so many other applications. And now she got three credit report hits, supposedly. I guess I'm out - I don't think I'll try for it for myself. That 75K Amex was probably too recent.
  15. deant
    • Original Member

    deant Milepoint Guide

    Everyone should note that there is one exclusion that makes many of us ineligible. From their "The Details" page:

    "Customers who participated in the 2011 "Match My Miles Challenge" may be approved for a Venture card, but are not eligible for the Double Miles Challenge program"

    So if you took advantage of the Match My Miles last year you will not get the match this year!
    bearcat74 and cr34102 like this.
  16. icurhere2
    • Original Member

    icurhere2 Gold Member

    For folks who have the miles for premium cabin international air awards from other sources and want to cover rental cars, hotel incidentals, and travel costs other than airfare (e.g. cheap ground transfers on Expedia), this is more than a reasonable card. I carry both the CapOne Venture Visa* and the Fidelity Retirement AmEx.

    * And thus ineligible this year.
  17. Steven Schwartz
    • Original Member

    Steven Schwartz Silver Member

    No recollection when I got the free 100,000 points. Am I correct that they only had one promotion like this and it was, in fact, 2011?

    Not worth applying if I can't get the 100,000 points which, as some said, could be used for a paid hotel stay we have coming up.
  18. deant
    • Original Member

    deant Milepoint Guide

    The only Capital One 100K promotion that I know of was last March. So that is when you probably applied.
  19. NYCAdventurer

    NYCAdventurer Gold Member

    This promo is useless for most!
  20. cvsara
    • Original Member

    cvsara Gold Member

    And that is the way most of the CC promos are. Most don't appeal to most of us. Most of us, who took advantage of the first CAP 1 offering would have liked to seen this one directed at most of us, but when you think about it, why would CAP 1 do that?? Certainly not good business to do so. It is what I would have expected from them. I'm sure CAP 1 is really very interested in seeing how many of us savvy CC churners drop the CAP 1card in the next month or two, after delivering a really good promo. So think about it, They can't keep doing that.
  21. schnitzel
    • Original Member

    schnitzel Gold Member

    I would say most DO appeal to me, and that's a problem because I just churn them and I'm not profitable for the bank involved. Fortunately for CapOne, they had the good sense to decline my wife, because we would have just charged the $1000 minimum spend, taken the $1000 reward in credits toward travel, and never used the card again.

    They want quality, long-term customers. Good for them; bad for us. But, really, it's nice to see some sense in a bank for a change.
  22. perryplatypus

    perryplatypus Gold Member

    Going to pass on this card too. I bet there are better offers comming down the pike this march
  23. spesalvi

    spesalvi Gold Member

    This sucks, I missed out last year and gonna pass this time cuz not a big spender, poor young buck here! :(
    Kalboz likes this.
  24. schnitzel
    • Original Member

    schnitzel Gold Member

    Life is different for a lot of people AM (after Mint).:p
  25. sun
    • Original Member

    sun Silver Member

    So they want people who will spend a lot with them. Its not clear why someone would continue using this card after receiving the signup bonus when you can get straight 2% cashback with Fidelity AMEX or Sallie Mae Visa.
    gleff likes this.

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