The best Rewards situation...

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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The best Rewards situation...

Postby rygo » Mon Jun 08, 2009 8:26 pm

I also posted this under the rewards section of this forum...

Anyone who has a Capitol One credit card with the following redemption tier, this message is for you. I've had a Capitol One No Hassle Miles Visa card for a couple years which has a miles redemption tier as follows:

Travel up to $150 = 12,500 miles

$150.01 to $350 = 25,000 miles

$350.01 to $600 = 50,000 miles

$600.01 and greater = the cost of travel x 100

The Visa card earns 3 miles for every dollar spent at any gas station or grocery store. You get 1 mile for every dollar spent anywhere else. Anyone who has this same card as myself, or another free capitol one card which has the same redemption tier here is what you need to do:

Sign up for the Capitol One No Hassle Miles Ultra for Professionals Master Card as well. Currently this card has a $39.00 annual fee, but it gives you 2 miles per dollar spent anywhere. The redemption method for this card is as follows:

Price of travel x 100 = # of miles needed. For example, a $200 ticket would cost 20,000 miles.

For the general spending public, it is MUCH MORE beneficial to get double miles on every purchase than triple miles ONLY on gas and groceries. Check your statements and do the math. I did, and it's not even close. So here is what you do:

1. When you shop for groceries or get gas, use the Visa card.

2. When you shop for anything else, use the MasterCard.

You will earn a substantial amount more miles this way for a cost of only $39 a year. And here's the key: the miles are transferable between accounts!

When you redeem the miles for travel costs, do as follows:

For a ticket costing:

$0-124 redeem using MasterCard

$125-150 redeem using Visa

$151-249 redeem using MasterCard

$250-350 redeem using Visa

$351-499 redeem using MasterCard

$500-600 redeem using Visa

Over $600 doesn't matter, they are the same.

This is how you maximize your benefits on both sides of the coin so to speak. You will earn double miles on every purchase, and triple miles on gas and groceries. At redemption, transfer your miles to the applicable account. If you bought a ticket for say $340.00 and redeemed it using the MarsterCard, it'll cost you 340 x 100 = 34,000 miles. That same $340 ticket would only cost 25,000 miles using the Visa account! On the other hand, a ticket of $360 would be 36,000 miles using MC and 50,000 miles using Visa. This is why you simply follow the breakdown above.

In the end you will earn thousands more miles a year, and save yourself thousands of miles at redemption. This is advice for people with good credit. Obviously, pay your cards on time to avoid interest.

To all those of you who have a capitol one card with the above mentioned tier, enjoy this excellent method!

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