Capital One Expanding Rewards To Include Amazon Shopping
Capital One and Amazon have announced that customers will soon be able to use their credit card rewards directly with Amazon. Capital One will be joining Chase, Discover, and Citi – all of which already have programs in place with Amazon.
The new rewards system will allow customers to apply their rewards when completing check out for Amazon purchases. Amazon is by far the largest online retailer in the United States. This new rewards program will certainly be met with approval from Capital One customers.
Eligible Capital One Reward Cards
The following cards will all be eligible for the Amazon Shop With Points Program:
- Capital One Venture Rewards Credit Card
- Capital One VentureOne Rewards Credit Card
- Capital One Savor Cash Rewards Credit Card
- Capital One SavorOne Cash Rewards Credit Card
- Capital One Spark Cash for Business
- Capital One Spark Cash Select for Business
- Capital One Spark Classic for Business
- Capital One Spark Miles for Business
- Capital One Spark Miles Select for Business
- Capital One Quicksilver Cash Rewards Credit Card
- Capital One QuicksilverOne Cash Rewards Credit Card
- Journey Student Rewards from Capital One
How Shop With Points Works
Capital One will allow you to redeem your points with Amazon. You can use your points to cover the cost of an entire purchase or a portion of a purchase. Redemption values for cash back rewards will be 1:1. For miles, customers will redeem 125 miles for each dollar spent with Amazon.
Your points will automatically be deducted from your rewards account after your purchase has been made. Amazon also enables customers to have points automatically applied to all purchases. This feature will instantly apply available rewards to all of your Amazon shopping.
Value of Rewards When Shopping With Amazon
As mentioned above, the reward rate for purchases is very straightforward. You will receive $1 with Amazon for each dollar in cash back rewards. 125 miles will be worth $1 with Amazon – a rate of 0.8 cents per mile.
For cash back rewards, you will be missing out of the opportunity to earn additional rewards with your purchase. Purchases made with points will not be eligible for any cash back you receive with your card.
For travel credit cards, you will be receiving a slightly lower redemption rate than is available for travel booked with your miles. Typically you will receive about 1 cent for each mile redeemed for travel. Travel card customers may want to save their points for a better redemption rate.