Capital One sent out an email with information on an impending decrease to the value of their Venture points when being used for gift card redemption.
After March 28, 2019, some gift cards will cost more miles to redeem than others. For example, a $10 gift card at some retailers would be 1,250 miles to redeem while others would remain 1,000 miles to redeem.
Most people use Venture points either to redeem against travel purchases as 1 cent per point or to transfer with the new travel partners. For someone who doesn’t travel and needs to use up points, buying gift cards to places like Amazon is likely the best option as the cash redemption option gives just 1/2 cent per point.
Beginning later this month, many of the better gift cards to places like Amazon and Walmart will cost more and won’t get 1 cent per point value. Here is the full list:
Hat tip to reader NM
Shocking!
One trick for people who don’t genuinely travel much is that they could book an airline ticket with their venture visa signature card, then cancel it within 24 hours for a full refund back to their CC. They can then redeem the miles as 1c/point for the airline ticket purchase, even though they have been refunded for it.
If you over pay your C1 card by $20-30 and have a negative balance. Then do
Arash method – (make sure you buy a full fare 100% refundable ticket (not 24 hr refundable). You can then request a check for the credit balance.
Another small thing if you don’t carry a balance on C1 and pay in full. If say you owe $100 if you pay $99.01 C1 will zero out the $.99 cent you owe (at least they always have). Never been hit with Intrest but also I always make sure that last statement bal, was zero.
Small hack.
Or do the points stay on the account until I decide to use them.
As far as your 2nd hack … I am assuming that the @.99 cent hack is only good if you paid your balance in full the month before.
Thank you both for all the great hacks
I used to Buy virgin America plane tickets (cancelling within the 24 hour window), or a refundable hotel stay, then redeem the points against that purchase. Then cancel the ticket or the stay for a full refund, while the credit remained on my account.
Also you can redeem against one travel purchase multiple times as long as that travel purchase is within the 90 day window.
You can keep redeeming against a $20 Uber ride, as many times as you want. At least that’s how it was back in 2015.