Capital One Venture Double Miles Challenge

capital one double miles challenge Capital One has resurrected the popular 2011 “Match My Miles” promotion with the new Double Miles Challenge. There’s an opportunity here to earn up to 100,000 miles-worth $1,000-after signing up for the Capital One Venture Card (which is a kick-ass credit card to begin with), though you’ll need to follow some steps outlined below.

You can read our review of the Capital One Venture Credit Card here.

Note: the promotion ends either May 1st, 2012 or when 1 Billion miles have been given away, whichever happens first. In other words, don’t dilly-dally on this one.

Qualifying For The Capial One Double Miles Challenge

So here is GetDebit’s distillation of the key terms and conditions you’ll need to meet in order to qualify for this promotion:

  • You must be a new CapitalOne Venture Card customer, and you cannot have participated in the 2011 “Match My Miles” promotion.
  • In order to qualify, you’ll need to spend $1,000 within the first 90 days of account opening (note that account opening occurs when you are first approved for the card, not when you receive it).
  • In order to earn the miles, you need to send in a year-end summary from another travel credit card (either Visa, MC, Amex, or Discover). The following credit card types are not eligible: small business, debit, fleet, private label, corporate, prepaid, and Capital One.
  • For every dollar of spend on your year-end summary, you’ll receive 2 Capital One Venture Rewards miles. Thus, prior-year spend of $50,000 or more will qualify you for the maximum $1,000 bonus.
  • After registering for the promotion, you’ll have 30 days to submit the year-end summary to Capital One.
  • Miles will be awarded within 2 billing cycles from when they were earned/approved.
  • Note that if you don’t participate in this program (or don’t qualify), you would still be eligible to earn the standard 10,000 bonus miles if you make $1,000 of purchases within 90 days of account opening.

    How Are Your Capital One Miles Converted To Cash?

    It’s pretty straight-forward. If you have any travel expenses, you can use your miles to offset those expenses (in the form of a statement credit). So as long as you do some traveling every now and then, you should be able to quickly convert those miles to cash-equivalent statement credits. Also, if for some reason the Capital One computers don’t recognize a particular expense as travel-related, you can call up the Capital One help desk and plead your case-they have the power to over-ride the computer (unlike Hal 9000).

    GetDebit’s Final Thoughts on the Capital One Double Miles Challenge


    “What’s GetDebit’s assessment of this offer?”, you ask. In a word—supercalifragilisticexpialidocious. Whatever that means…but yeh, we dig it. Unfortunately for me, most of my spend last year was on my Schwab 2% cashback credit card (which has gone the way of the dinosaur), so not too much upside for me.

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