Capital One 100,000 Mile Double Mile Challenge is Here! [Expired]

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But there’s nothing to get excited about unless you’re a big spender who can prove that you spent tens of thousands of dollars on a single credit card.

Yesterday, I was optimistic that I’d be able to take part in Capital One’s upcoming promotion, but here’s why I’ll be sitting this out this year.

  • I’m ineligible for the Double Miles challenge because I took part in last year’s “Match My Miles Challenge.”
  • You have to spend $50,000 on a credit card in 2011 not including a business credit card or corporate credit to get matched to 100,000 miles.
  • You have to submit a year end statement from ONE credit card.  You can’t submit statements from more than one credit card.

The Terms and Conditions also say that spending  on small business cards, debit cards, fleet cards, private label credit cards, corporate cards, prepaid cards and Capital One credit cards are not eligible.

Capital One will match $1 of spending in 2011 on your existing travel card with 2 Venture Reward miles with a cap of 100,000 miles after spending $1,000 within 3 months on the card.

So you could get 100,000 Venture miles for spending $50,000 in 2011.

Capita One’s Venture miles can be redeemed for travel (1 cent per mile) and other merchandise from the Capital One online store.  So 100,000 miles is $1,000 towards travel expenses.  Just keep in mind that Capital One pulls your credit from all 3 bureaus which isn’t necessary bad since most banks don’t pull credit reports from TransUnion.

Perhaps Capital One won’t run out of their Billion miles by May 1, 2012.  But if they do, it means that they’ve acquired new card members who collectively spent $500 million on their credit cards in 2011!  This is certainly a much better thought out promotion to reach their business objectives than last year’s offer.  But not an easy way for us to earn miles!

Bottom Line:  This is a good deal if you can get 100,000 miles from Capital One which can be redeemed for $1,000 in travel.  I wouldn’t apply if I wasn’t able to get at least $600 or more from this promotion.  Keep in mind that Capital One usually pulls your credit report from all three credit bureaus.

I’m ready for the next mega credit card offer!

A big Hat Tip to all the readers who sent me information about the promotion and kept me up-to-date on the latest developments!

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67 responses to “Capital One 100,000 Mile Double Mile Challenge is Here! [Expired]

  1. Anyone know if the $50k figure includes spend from all authorized users on an account? I have less than 50k on my individual card, but adding in the spend of authorized family members it exceeds 50k. The FAQs say I need to be an accountholder of my travel card, but is silent as to whether the spend of other authorized users on my account is counted for matching purposes.

  2. I’m going to go out on a limb and predict that this program will NOT run out of miles to give away like last year. I’d love to be in the board room when the ad exec’s try to put lipstick on this pig of a promotion. What will only make this funnier is if Capital One runs commercials like they did last year with this promo.

  3. Tyler – If you do your Amex year-end send it includes authorized users and doesnt “show” that it is. Typically most people that purchased coins last year, and a lot of them, will have 50k spend without a problem. The sad part is that people that did last yeras offer can do this years =/

  4. Can I participate if I already have a Venture card but did not participate in the 2011 promotion? I got my card in November of 2011.

  5. I have the lowest Capital One Card. I received a letter asking if I wanted to upgrade to the Venture Card. If I do, would I qualify without having my credit card bureau pulls? When I checked my Chase Sapphire statement, it only showed my actual spending for the year. Roughly 10k so not worth it for me to apply. Too bad I missed out last year. Too bad you can’t just send in the Mileage Account statement or CAN YOU?

  6. Have we become that spoiled that we won’t apply for a card unless a certain amount is received? My wife earned ~20,000 SPG Amex points last year. That works out to 40,000 Capital One points. $400 in gift cards is nothing to sneeze at. Old timers may remember when 5000 miles was a great signup bonus. Her credit is good, so she’ll apply.

  7. Well bummer. On to the next deal for me.

  8. In 2011 I spent $43k on a AMEX Blue Cash card. Would you go for it? For 1) I am not sure if the Blue Cash qualifies as “travel card” (I called their sales rep and he seemed to say yes, but that didn’t completely convince me) and 2) that’d yield ‘only’ 86k miles, short of the full 100k. I never was interested in miles/points until this year and so far in 2012 cleared both the AMEX SPG and Chase Sapphire Preferred bonuses. Never had a Capital One card. Interested to hear your thoughts, and congrats on that blog it is very solid work.

  9. Could probably get 70k points out of this, but not sure if its worth it… ironically if they were miles that were transferable, it’d be a no brainer, but tough call, especially with them checking the three credit agencies… hard to risk this when there could be a couple of solid sign up bonuses around the corner… (it is the season, right?)

  10. Tammy Horvath

    I spent $35,000 on my Air Tran Visa last year (including authorized users). It does not break down the spending of the authorized user so I am guessing the full amount will count. Is it worth it for me to do this? If it takes me 3 months to spend the $1,000 is there a chance they will run out of miles before I do or are the miles yours at the start and they just don’t go into your account until you meet the minimum spend? Sorry for so many questions, but I am completely unfamiliar with Capital One. I don’t even know what airlines they use.

  11. I’m in the same boat as Ced, about $40k spend on Amex blue cash. I think I’ll pass on this offer. I’ve laid out my plan (programs I want to accrue points on) and will only jump at offers which help that, especially being new to the game.

  12. I only spent $32K last year on my SPG Amex, not sure if 64K miles are worht the three bureau hit….

  13. Tammy Horvath

    I just found this comment in the fine print, so it answers one of my questions: “Miles are reserved for customers once registration is complete”. Still not sure if it is worth it for 70,000 miles as Trevor said above and me not being familiar with how the program works.

  14. Is there a business version of this card? If so, would there be a chance for previous “match my miles” cardholders to qualify for the miles bonus this way?

  15. I believe the business version of the card is now called “Spark Miles” and it is not eligible for the Double Miles promotion. It will, however, give you a 10,000 mile sign up bonus for spending $1,000!

  16. if you participated in last year’s match my miles promo means you cant do this years? where does it say that?

    • @Tyler – I suspect you’ll be fine as long as the year end statement shows a total and doesn’t mention list your authorized users.

      @billybob – Ha! Or maybe they don’t want to run out of miles…

      @jeff
      – Thanks for helping out. I forgot about the coins.

      @Noah – The terms say “Existing Venture customers and 2011 Match My Miles Challenge participants are not eligible for this promotion.” I interpret that to mean that existing Venture cardholders are not eligible for the challenge.

      @sil
      – I don’t know if they will do a credit pull for an existing card holder to upgrade, but call and confirm. You can’t (as of now) submit an airline statement (like you could last year).

      @Dan H – Good point! And I suspect that the offers may decrease in a few months. As long as your wife earned the 20K SPG points from spending (not sign up bonuses), she should be able to get matched to 40,000 points.

      @IPBrian – Me too!

      @Ced @Con-Man – If I had ~$40K spending on a card which was eligible, I’d go for it. $800 is a good return for 1 card application and has the flexibility to be used for any travel expense. Thanks for reading!

      @Trevor – I’d do it for 70K points or $700. Unless there’s something else which gives you a better return. This was one of the mega bonuses which I was expecting, but looks like they tightened up this year. Perhaps we’ll see 1 or 2 more offers (if last year’s trend holds true).

      @Tammy Horvath
      – I believe they reserve the miles for you once you get your registration email. And you get the miles as long as you complete the minimum spending. That’s also how it ran last year. I’d do it if I had $35K in spend on an eligible travel card because that’s an easy $700 towards travel expenses. You get reimbursed for any travel expense charged on the card so you have a lot of options.

      @Josh A – Only you can decide that, but look at your other options and bonuses before deciding.

      @Brandon – There is no eligible business version for this card. Previous cardholders are shut out (for now!)

      @Heather
      – Thanks for helping out!

      @troy
      – It says that in the answer to “Who is eligible for the Double Miles Challenge”

  17. I want to do this, but am going to let it play out a bit since I don’t think there is any risk of CapOne running out of miles here. I spent $48K on my Amazon Visa (just starting to focus on applying my spend and getting bonuses now), so don’t know if that is a travel card as described in the FAQ.

    I am in the midst of mortgage refinancing so I have time to learn on the experience of others.

  18. I have the American Express Delta Business Card with my name as “owner”. I put $50K on this card last year. Looks like this card won’t qualify because it was a “business” card and not a “personal” card. Doesn’t that stink?

  19. Does anybody know if they want you to submit an ENTIRE 25 page summary for qualification purposes? Chase provides year end summaries…and there’s a lot of detail in there as well. The first couple of pages show bar charts with your spending and even break it down per category. I am, however, leary of submitting the following 22 pages as those contain EACH individual transaction I’ve made over the course of 2011. I’m not sure I’m comfortable sharing that kind of knowledge…

  20. I called Capital One and was told that my ThankYou Point credit card qualifies as the points can be used to book airline travel, hotel stays and auto rentals.

  21. Wonder if a husband and wife can both apply and submit the same CC summary since the Terms and Conditions say one per customer and account. Different customers, different C1 Venture Accounts.

  22. Does this card charge foreign exchange fees? (I thought that was standard across Cap One, but I don’t see foreign transactions mentioned in the T&C.) I originally got the Chase Sapphire last year to pay for my honeymoon in Greece, but it would be nice to reimburse that all back to myself instead!

  23. Daraius, please correct me if I am wrong, but isn’t there a great hidden benefit with Capital One points when you use the ‘statement credit’ for travel reimbursement with these points.

    This has a strong advantage over 1) just using points and obviously 2) using miles to book a flight. By asking for a statement credit, not only do you get MQMs but you can also earn regular CC points. Hence triple dipping opportunities are preserved, for example by using Chase Sapphire Preferred, and the UR mall to book a flight on Priceline (2x).

    You’d get 2x the UR points + 2x bonus via UR mall, on top of being able to redeem points and earn MQM.

    For 100k points that’s significant, since that’d mean 4k UR points ($50) on top of the $1k. I like that, but please correct me if I am wrong I have never used Capital One (just read the application T&C)!

  24. Do they match multiple card balances? I have a SPG Personal with $27k and a Discover card with $28k

  25. @ Michael

    Terms specifically say on the website ONLY ONE CARD allowed for matching

  26. Ignore my above question – crap.

  27. My application got declined & the CSR with whom i spoke is not reconsidering my application.

  28. I’m out. I looked back and only have 20k on 1 card and 33k on another card. I’d rather save my inquiries for other offers. I haven’t done an OOR since October so I’m due for one soon though.

  29. Read of lots of denials on the FT site as well. Has anyone been approved?

    I think they have tightened up their targeting significantly, and they realize that excluding anyone who has applied for credit cards in recent months is going to weed out miles mongers. They are after people who use one credit card most of the time and who are frustrated at how hard it is to get value out of their miles. They’re getting smarter.

  30. I was approved earlier today – 805 FICO. Applied for a LOT of cards lately for miles and awards. YMMV.

  31. Tammy Horvath

    I just called to ask a few questions and they did a pre-approval, or soft hit, on my credit. I am pre-approved. Sorry to sound stupid but what is a soft hit versus a hard hit and does it affect your credit score? The rep said it didn’t. Was that stupid of me, did I waste a credit hit?

  32. I’m with D. I’ll be sitting this one out in hopes of more lucrative (for my travel needs anyhow) sign-up bonuses in the future. Looking forward to doing a major app-o-rama in the next few weeks!

  33. I bet they got hosed in last year’s promotion. I’m not surprised the quals are tough. In fact, things like this are the wave of the future. Personally, I’ve picked up 175k UA/CO points in the last year or so through UA/CO branded cards. How, exactly, am I a profitable customer for Chase? I actually do spend a large portion of my regular spend with them on the Sapphire Preferred card, but still, I can’t figure out how giving a bajillion cards with nice sign up bonuses is profitable in the long run.

    I expect these lucrative sign up bonuses to be much more targeted in the future — and this is a first step. It’s a targeted offer without C1 having to dig through credit reports.

  34. @Dan: Retail banks traditionally reported to be profitable only with the distressed and careless customers, who pay credit card interest and fees, checking penalties, etc. Yet I can’t recall a single banking promotion that targeted the profitable segment. Their business model requires a good element of deception and a large pool of customers — some of which could become distressed and profitable in the future.
    If a banking promotion does not generate any excitement and good will toward the brand, it’s a dud.

  35. My wife was just approved. I was a little surprised because she had also just recently gotten two AAdvantage cards. Luckily we had a bunch of spending on her BA card last year to qualify for the companion reward… should qualify her for roughly 85K Cap1 points. Like Gabriel, I’d love to know if they’ll accept a partial year-end summary (i.e., the actual summary not complete details) from Chase. I kinda doubt it, since as far as I can tell, the Chase summary doesn’t have a single total listed anywhere — you have to add up the totals for each category, which are spread throughout the report.

  36. @ Doug

    Actually, one could tell because the first 2 pages show solid amounts in bar graph form over each month. Add up all 12 months and you got your total (or at least a very close amount towards it). Still don’t know if they’ll accept it or not…but I think one could easly come to a pretty good conclusio based upon that.

  37. I don’t normally spend close to $50,000 a year, but last year we just happened to buy a new car and put it all on what used to be my primary spending card – the American Express Blue Cash. I’m still trying to get confirmation (hopefully written) from Capital One that the American Express Blue Cash qualifies – I don’t really want to get the Venture card (and the credit inquiries) unless I can get in on this bonus. I’ll try to update you guys if I can get an answer from Capital One. If anyone has additional news on the Amex Blue Cash and whether or not it qualifies – (@ced or @con-man?) – please let me know!

  38. Hi Darius,

    Qualifiers mention “private label credit cards” – does Marriott Rewards Visa fall under this category? I just enrolled for the Venture card (as I spent 73k last year) – I hope it will fly…

  39. I am wondering if i could get this and the citi aa 2 cards, any advice on how to do?

  40. I am still a newbie. I have AMX with a lot of spend last year. Is this the best mile challenge offer and are there others offering challenge or match I can apply for at this time?

  41. Wow. Either some people just don’t get it or I’m missing something major here.

    1) this is an Awesome deal. Even if you get 500 in bonuses this is certainly comparable if not better than many other promos out there ESP considering the flexibility. My wife and I use our ventures as primaries because u can use this for cruises and its the best card out there for those purposes.
    2) Why is everyone making such a huge deal of three credit pulls?? Most ccs only pull one so if u apply for another card later they’ll only count one of those pulls. That pretty much means it’s the same as one pull on the credit agency that your next cc app will pull from.

    I would so get in on this but my wife and I already did last year and got 3000 in cruises out of it. Love the card and have only had great customer service experiences with them.

  42. @sam, go ahead apply for it if you think three credit pulls for even get 500 in bonuses is not a big deal. Majority readers here does not spend $25000 on one single card and knows three credit pulls give us a chance to apply 3 different cards. We appreciate Darius’s honest and reasonable suggestions and don’t feel your suggestions have any more credibility over his.

  43. CanadianMillionMiler

    Here is a strategy that I haven’t seen mentioned anywhere else to the best of my knowledge. If you have a Capital One Venture One (gold card), you can actually upgrade it to the Venture (blue card) and get approved with no credit pulls. You will then qualify for the 100K double miles challenge. Best of luck to all who can and want to go this route. Keep in mind that by upgrading, the first year fee will not be waived, but if you can get 100K points ($1,000) out of this, it’s worth it.

  44. Tammy Horvath

    Daraius,
    Air Tran Personal Visa should count towards the double miles, correct? The rep on the phone really didn’t know. I don’t know why he wouldn’t have known. I just got approved for 10,000 with an Experian credit score of 765, in case anyone was questioning whether to apply or not.

  45. Has anyone had luck with Capitol One reconsideration? Got denied for too many inquries and apparently having too much credit (despite 790). I have had a lot of inquries very recently, like the last week. Recon said no but I was wondering if it is worth continuing to pursue.

  46. I had a several conversations with Capital One representatives. I have a Capital One Platinum Visa and attempted to upgrade to the Venture Card and was unable to. Later, I spoke to a customer service representative that was at the number provided by the promotion and she told me that they could only upgrade the Venture One Card.

    Card which they will match are cards that provide rewards in the form of points, miles, or cash which can be used for travel. She confirmed with her supervisor that the American Express Blue Cash will work (since the cash rebate can be theoretically used to pay for travel such as a cruise or hotel). However, the Amazon.com Visa wouldn’t qualify because the rewards can’t be used to pay for travel expenses (as an example).

    In the end, I decided not to apply based on the number of rejections that seem to be happening. The customer service representative I spoke to said that they don’t have any discretion or overriding abilities – if the computer rejects, you’re rejected (at least for now). Since I just got the Chase Sapphire and Ink Bold cards in December and two Citi AAdvantage Cards last week, I felt that my risk for rejection was pretty high. I wouldn’t mind the three hard inquiries (since it’s one per reporting agency, it’s really just a single guaranteed hard inquiry for my next application – it would essentially be nearly the same as a single Experian inquiry since everyone seems to check Experian anyway) if I got the credit card and sign up bonus, but I have other cards I want to apply for later this year (to complete my cash back card overhaul to mileage cards) and I have no plans on using the Venture card after I get it. It was a tough decision not to throw the dice as 100,000 Capital One miles is a HUGE bonus.

    • @Greg – Good to know. Thanks for checking!

      @T Mo – Not sure if they will cross reference statements or not.

      @Rachel – Capital One cards don’t charge foreign exchange fees.

      @John – You will earn elite miles, but you have to have put the charge on your Cap 1 card to be eligible to use the statement credit.

      @Michael
      – They don’t.

      @Gabriel – Thanks for helping out!

      @Roshan – Capital One is terrible with reconsideration. I wouldn’t expect it to happen.

      @Ken – $660 for $1K in spend is quite good. For all we know, there may be no other offers.

      @Anita – I agree. I’m sure they got lots of folks last year who just wanted the bonus.

      @T Mo – Thanks for sharing!

      @Tammy Horvath – A soft inquiry or hit doesn’t affect your credit score, but I would expect them to review your credit report/score (i.e. do a hard pull) when you apply.

      @Corinne – I would have applied, but don’t have much spending on any 1 card to make this worthwhile.

      @Dan – I agree. Banks will certainly find ways to get more creative in their offers. But I suspect that they are still profitable across the entire pool of applicants.

      @Max – Cap 1 certainly spends a lot to advertise this offer.

      @Doug – Congrats! Let us know if they accept the partial summary.

      @Alex – I’m pretty sure the Marriott card is considered as a travel card and will be eligible.

      @michael
      – I’d apply for the Cap 1 card 1st and then the Citi cards, b/c Cap 1 seems to be very sensitive to the number of cards you have, recent inquiries etc.

      @Alexandra – Welcome! The Cap 1 offer is the only spending challenge offer which I know of. If you qualify and can get the match, it might be worth considering.

      @Sam – I agree that if you are looking to redeem for cruises, this is a great deal! I suspect that folks are upset about the 3 pulls because it restricts the other cards which they could potentially apply for. But it could make sense if you’ve spent $50K on a credit card last year.

      @CanadianMillionMiler – I believe that you were able to upgrade last year as well, but this is great for folks who already have the card. Thanks for sharing!

      @Tammy Horvath
      – Why wouldn’t the Air Tran card be considered a travel card?! I agree with you that it should count.

      @Brian – Cap 1 has a terrible reconsideration department and it is unlikely that you can convince them unless you have a big Cap 1 deposit etc.

      @Michael Chu – Thanks for checking and letting us know! It may be worth trying for later on if you feel you can spare the inquiry especially if you can get the full 100K points.

  47. I believe I meet the spending criteria for this card but still skeptical due to recent 4 cards in Dec 2011. Two Hawaiian Airlines, HHonor Amex and US Air
    Twiddling thumbs here lol.

  48. Was the last yera spending must be on the TRAVEL CREDIT CARD? Can I just submit a year end summary for a regular credit card to be eligible for the double mile challenge?

    • @Tariq – I’ve also read of folks getting denied for recent applications, and there isn’t much of a reconsideration process with Capital One. But your call!

      @audisfo – I believe the terms say that they will match spending on a travel credit card, so I would call to make sure that your credit card qualifies.

  49. Don’t most of these cards like Hilton, AirTran, or SPG fall under private label cards which are not eligible for the bonus? I have the Fidelity Investments Visa which earns Bank of America World Points and they told me it is not eligible, since it is private label.

  50. Damn, got rejected too. I lost the 100K points as I had 1 card spending over $50K last year.

    • @joe – Cap 1 is matching to travel cards and so Hilton, Air Tran, and SPG will count. Private Label likely refers to store credit card. I’m surprised that they are not matching the Fidelity card because you can transfer the points to Aeroplan. Then again, it is not that well know!

      @audisfo – Sorry to hear that because Cap 1 has virtually no reconsideration process.

    • @Vince – Thanks! Congrats on getting approved.

      @audisfo – Sorry to hear that. Capital One grants their reps virtually no discretion to reconsider applications.

  51. Got rejected as well. =*( Have great credit and was looking forward to using my $50k+ spend statement to get those 100k miles!

  52. Do Capital One flight redemptions earn miles on the airline that is ticketed?

  53. Got my card and spent my $1,000 min spend and the miles are already in my account. Thanks Daraius!!! A free 71,348 bonus miles for a (3) credit pull. Plus I can travel with the card and not get hit with a 3% foreign transaction fee, like all my other cards. Now I get to spend the miles.

  54. @Tammy Horvath
    If you don’t mind me asking, which interest rate did Capital One give you with the Venture Card? 13.9%, 16.9% or 20.9%? That’s one of the things I hate about Capital One-you could be approved and then they hand you the highest variable interest rate available for that particular card. I actually was considering applying and submitting my spend on my AAdvantage Amex from Citi (the spend was abnormally high for me because my husband uses it for business expenses on occassion). I could have easily raked in 60,000 plus miles with the promo, but then realized that it wasn’t worth the 3 credit pulls. In my case anyway! Plus, I have multiple cards with 0% forex fees so I couldn’t even justify the pulls based on that factor. Congrats on the miles you earned though!

  55. Darius,

    Whats the best way to redeem Capital One venture miles? On their website or is there a better way?
    Thanks!

    • @Tammy Horvath – Isn’t it great when the points post to your account?

      @Alex
      – You can redeem them on the website, or you can spend on travel expenses and then ask Capital One to reimburse you for that spending. For example, if you pay for a $100 car rental using your Cap 1 Card, you could call or ask for a credit online to cover that $100 expense.

  56. Do you mean convert my paid expense into miles expense post factum?

  57. @Corinne I got an interest rate of 16.9% APR for purchases and transfers and 24.9% for cash advances. I had an Experian credit score of 765. I hope this helps you. It only took 2 1/2 weeks for my miles to post. (I was approved for my card on March 9th) As soon as I hit the minimum spend of $1,000, they went right in my account.

    Does anyone know if they reimburse for RCI travel? It is a timeshare company.

  58. @Tammy Horvath
    Thanks. Just curious as to what they were handing out in regards to interest rates. I am not applying this go round because I don’t want 3 credit pulls though.

  59. So, I may have done a no-no. I applied and got approved for the Capital One. But now I am reading about 3 hard pulls. What does this mean for future credit card applications? I was planning to do the personal and business southwest and some of the hilton cards.