Capital One extends limited-time perks on select cards through June 2021

Apr 13, 2021

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Editor’s note: This post has been updated with new information provided by Capital One.

Various card issuers have added limited-time card benefits during the coronavirus pandemic, including Capital One. Last year, Capital One added new ways for cardholders to redeem their Capital One miles. It later added an additional earning category on select cash-back rewards cards.

Capital One just announced an extension of these perks through June 30, 2021. Here’s what you need to know.

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Expanded Capital One redemption options

In light of people staying home and putting travel plans on hold until pandemic concerns subside, Capital One added three new categories where you can redeem miles at a fixed value. Through June 30, 2021, you can take your Capital One miles and redeem them for purchases made in the past 90 days on food delivery and streaming services.

Further, Capital One Spark Miles for Business cardholders are able to redeem points for takeout, delivery and phone services through June 30. This benefit was also set to end on April 30, 2021.

(Photo by Hero Images/Getty Images)
With more people spending time watching streaming services, it’s great to see that as a potential redemption option for rewards. (Photo by Hero Images/Getty Images)

Eligible delivery services include Doordash, Uber Eats, Postmates and more. Eligible streaming services include Netflix, Hulu, Spotify, Disney+, Kindle Unlimited and more. You can also use your miles on takeout when you purchase directly with restaurants, cafes and fast-food joints.

Most of the time, travel credit cards provide subpar redemption rates for non-travel purchases. It’s good to see that Capital One is allowing the same fixed-rate redemption for these purchases as they do for using miles to cover travel purchases from the past 90 days.

Related: Maximizing rewards points for non-travel redemptions 

How to redeem miles for food delivery, takeout or streaming services

Earn 5x on your next takeout or delivery purchase with your Chase credit card. (Photo by Getty Images)
Food delivery and takeout are among the new redemption options for your Venture and VentureOne credit cards. (Photo by Getty Images)

This benefit is essentially just an extension of the option to cover travel purchases using your miles. You’ll use your Capital One Venture Rewards Credit Card or Capital One VentureOne Rewards Credit Card to make a purchase in one of the eligible categories. Once the transaction posts (within a few days, generally), you can then sign in to your rewards account and select “Cover Your Purchases.”

From there, you can redeem miles on eligible purchases made within the past 90 days, just as you would for a travel purchase.

Keep in mind that the most potentially lucrative use of your Capital One miles will continue to be transferring to its hotel and airline partners when it makes sense. However, if you are hoping to save money in the short term on things such as food delivery and streaming services, using miles to “pay” for past purchases isn’t a bad redemption option.

Related: Here’s how you can share your Capital One miles with anyone

Bonus cash back benefits extended

Capital One is currently offering bonus cash back on popular streaming services when you pay with a Capital One Savor Cash Rewards Credit Card or Capital One SavorOne Cash Rewards Credit Card by April 30, 2021. Thankfully, this benefit has been extended through June 30, 2021, so you’ll continue to enjoy bonus cash back for the next couple of months.

The information for the Capital One Savor has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Related: Save money on streaming services with these hacks and strategies

Bottom line

At TPG, we love to use points and miles to book incredible travel experiences. But with so many consumers limiting their travel currently, cards that offer alternative redemption options are more valuable than ever. Many of us will continue to save up our travel rewards for future travel (such as a dream destination trip to Italy next year), but it’s great to see Capital One add options for those who want or need to save money now.

“Capital One remains committed to offering our customers a variety of options for redeeming their rewards,” said a Capital One spokesperson. “We understand that our customers’ day-to-day lives have changed, so we’re continually looking at providing value in new and different ways.”

And remember that the Capital One Venture Card currently offers 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening or still earn 50,000 miles if you spend $3,000 on purchases in the first 3 months.

Additional reporting by Katie Genter and Andrew Kunesh.

Featured image by Daxiao Productions/Shutterstock

Capital One Venture Rewards Credit Card

SIGN-UP BONUS: Up to 100,000 Bonus Miles

TPG'S BONUS VALUATION*: $1,700

CARD HIGHLIGHTS: Miles are now transferrable to several airline partners

*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.

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More Things to Know
  • Earn 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3,000 on purchases in the first 3 months
  • Earn unlimited 2X miles on every purchase, every day
  • Miles won't expire for the life of the account and there's no limit to how many you can earn
  • Receive up to $100 application fee credit for Global Entry or TSA Pre✓®
  • Redeem on travel—including flights, vacation rentals, car rentals and more. Plus transfer your miles to over 15+ travel loyalty programs
  • No foreign transaction fees
Intro APR on Purchases
N/A
Regular APR
17.24% - 24.49% (Variable)
Annual Fee
$95
Balance Transfer Fee
$0 at the Transfer APR
Recommended Credit
Excellent, Good

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