As you know, I am a fan of the Capital One Venture Rewards Card, and now you spend your Capital One miles on Amazon. The question is, should you?
I received the email today informing me that if I enroll my card at Amazon’s link, I can use the rewards miles from my Venture card as payment for my purchases at Amazon.
After I went through the easy enrollment process, I noticed that my 24,675 miles only is worth $197.40 on Amazon.
On Capital One’s Travel Eraser I get a penny per mile. In this case that’s $246.75 of expenses I can eliminate.
That $197.40 on Amazon comes in at 8/10 of a penny per mile. That is a loss of 20%. So I don’t think that I am maximizing my rewards when I spend my Capital One Miles on Amazon.
To find out more about the Capital One Venture card, click here. And when you do, not only do you get a sign on bonus, I’ll get a referral bonus as well!