Question
I charge around $200k/month on a cc and use my miles primarily for first class international travel. I recently came across the Capital One Miles Ultra card, and was hoping someone could tell me if this card is a good deal for me or is a total dud. Here are the main features:
• Earn 2 miles per dollar spent on purchases
• Fly any airline, anytime – no blackout dates or
seat restrictions
• More ways to use your miles: travel, cash back,
merchandise, charitable donations
• Number of miles required for travel is variable
• No pre-set spending limit
My question is: Has anyone been able to fly first class using this cc? The offer sounds almost too good to be true, since you earn 2 miles/dollar, and the they state no blackouts and fly any airline.......whats the catch?
Answer
Their points expire after 5 years. If you are spending $200 per month, you'd have 24,000 points in 5 years. In their program you'd be able to buy a ticket valued at $192 or less.
The number of points required for a capital one award are based on the current price of the ticket. When they advertise that you can book any seat with no blackouts, they also mean to say "for more points."
Capital One is actually worse than traditional frequent flyer programs which offer things awards like Aanytime or SkyChoice at the cost of double miles.
http://apply2.capitalone.com/9095/19/moreinfo.jsp?s=0009095019000XXCO31XX1ULTRA99VXXZZZ Z02ZZZZZZZZZZZZZZ
Q: How many miles do I need to earn a ticket?
A: The miles required for a ticket is determined by the price of the ticket multiplied by 125. For example, if you find a $100 ticket, you will need 12,500 miles. There is no minimum amount of miles needed before you can redeem for air travel!
Q: When do the miles on my account expire?
A: Another great feature of the No Hassle Miles card program is that your miles do not expire until five years from the end of the quarter in which they are earned, giving you ample time to decide how you want to redeem them.
Answer
FYI--I think he meant $200,000(200k) per month. That changes the equation a little bit.
Answer
Doh!!!!!!!
Still it seems like you'd get more tickets from a traditional award program... but it depends on the actual flight you end up taking... Also, if you spent $1,000,000 you'd get lifetime gold status on American.