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

Nov 16, 2020

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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. Back in April, Capital One added new ways for cardholders to redeem their Capital One miles. And, in June, Capital One added an additional earning category on select cash-back rewards cards.

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As the coronavirus pandemic has continued, Capital One has extended its limited-time perks. Specifically, Capital One just announced an extension of these perks through April 30, 2021. So here’s what you need to know.

Related: Which card should I use? A guide to navigating COVID card bonuses and benefits

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 the end of April 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. On the business credit cards front, Capital One Spark Miles for Business cardholders can use the redemption option for takeout, delivery and phone services.

The redemption rate is the same as for travel: 1 cent per point. Capital One Venture Rewards Credit Card, Capital One VentureOne Rewards Credit Card, Capital One Spark Miles for Business and Capital One Spark Miles Select for Business cardholders can use these new redemption categories. The only difference is that business cardholders can redeem for phone services rather than streaming services.

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

(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.

For Spark Miles and Spark Miles Select cardholders, you can redeem for delivery services, takeout and phone services. Eligible phone services include providers such as Verizon, AT&T, T-Mobile and more, and services such as mobile phone bills, payments and purchases. Internet, Wi-Fi and landline services won’t apply.

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 or VentureOne 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

Elevated earning on Savor and SavorOne cards

Streaming entertainment at home
Enjoy elevated earnings on select streaming entertainment. (Photo by Phil Barker/Future Publishing/Getty Images)

Back in June, Capital One announced that cardholders of the Capital One Savor Cash Rewards Credit Card and Capital One SavorOne Cash Rewards Credit Card would earn extra cash-back rewards on popular streaming services for a limited time. Specifically, the Capital One Savor would earn 4% cash back and the Capital One SavorOne would earn 3% cash back on select streaming services. And, now Capital One has announced this elevated earning will continue through Apr. 30, 2021.

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 60,000 bonus miles after spending $3,000 on purchases within the first three months from account opening.

Additional reporting by Katie Genter.

Featured image by JGI/Jamie Grill/Getty Images.

Capital One Venture Rewards Credit Card

SIGN-UP BONUS: 60,000 Bonus Miles

TPG'S BONUS VALUATION*: $840

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.

Apply Now
More Things to Know
  • Enjoy a one-time bonus of 60,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $600 in travel
  • 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✓®
  • Fly any airline, stay at any hotel, anytime; no blackout dates. Plus transfer your miles to over 10+ 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
Recommended Credit
Excellent, Good

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