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Capital One - New Point Redemption System
October 8, 2015
8:31 am
Yatti420
Canada
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Great news for Capital One point card holders..

These restrictions made it a waiting game to use points for adequate travel needs..

we’ve made some exciting changes to your travel rewards program to help you get the most out of the reward miles you collect.
• No more redemption tiers! 100 reward miles = $1 in travel so you’ll always receive full value for your reward miles for travel.
• No more minimum redemption requirements! You can literally redeem for cents.
• Introducing partial redemptions! Redeem on a portion of a transaction – for example, redeem half of an overseas flight.
Redeeming your reward miles is easy. You can deduct the cost of travel purchases you’ve already made on your card by redeeming your reward miles for an account credit.

What’s even better – you don’t need to do anything to receive these program improvements. All your other account terms will stay the same and you can still choose whether to redeem your reward miles for travel, gift cards or cash.

We hope you enjoy your improved rewards program.

October 15, 2015
5:50 pm
christinad
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October 15, 2015
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It's great capital one removed the tiers. But they were sneaky and for the free card they removed the 25000 bonus. I hope existing card holders are grandfathered in.

October 15, 2015
7:33 pm
Yatti420
Canada
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For new clients It looks like the travel card is now 10,000 points when you spend 500$ within 3 months.. And no yearly bonus..

My point bonus (1000 per year) is now grandfathered as would 25% net points/spending..

One-time bonus of 10,000 miles – equal to $100 in travel – once you spend $500 on purchases within the first 3 months

The cash back card has no bonus..

So its a trade off if you do it for cash only.. It becomes 0.75% if you redeem cash on a points card ($100 travelbonus versus $75 cash) I believe..

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