The trend of card issuers adding limited-time bonus categories during COVID-19 continues. Starting July 14th, Capital One is adding 5X rewards on Uber Eats purchases for Capital One Venture and Savor Cards. Here’s what you need to know.
Capital One is introducing additional rewards for specific cardholders. The Capital One Venture and Capital One VentureOne will now earn 5X points per $1 spent on Uber Eats purchases through January 31, 2021. The Capital One Savor and Capital One SavorOne cards will also earn additional rewards, with both getting 5% cash back on Uber Eats – also through January 2021.
There is no need for current cardholders to enroll to receive the extra rewards, which is a nice feature. Not all purchase types apply for the bonus, however. Apple Pay, Google Pay, Samsung Pay, PayPal, or any other mobile wallet or wireless card purchase is ineligible.
Coronavirus Leading to More Limited-Time Offers
While many banks are reducing credit limits for existing customers, others are rolling out new bonus features for cardholders. This move by Capital One closely mirrors what American Express, Citi, and Chase are doing for their credit cards. Capital One has been active recently, having also announced the roll-out of Price Protection to their World Mastercard and World Elite Mastercard products.
Capital One Rewards
The additional benefit of 5X points on Uber Eats is an exceptional value for current Venture and VentureOne cardholders. The opportunity at 5X points per dollar can quickly supercharge the rewards points of those who prefer to use their points for airfare and travel awards. This is something at which the Capital One rewards program excels.
The Capital One rewards program offers 1:1 points transfers with 15 partners, including Air Canada, Aeromexico, Air France, KLM, JetBlue, Avianca, and more. Capital One Rewards points have an approximate value of 1.4 cents per point ($0.014/pt.). This makes them one of the more lucrative points in the credit card rewards industry.
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