Single Best (IMO) Credit Card Sign-Up Offer Coming Back?
Mommy Points made my day just now when I read that the Capital One offer might be coming back.
You can read about the original offer on View From The Wing.
If you’re lazy, here’s a brief summary. You signed up for the Capital One card and sent them a copy of your statement from a mileage or points account (preferably one where you have 100,000 points). Spend $1,000 and they would match however many points you had in that account. So, a balance of at least 100,000 points plus $1,000 spend on the card netted you 110,000 points.
As Gary points out, these points aren’t as valuable as some currency. But, he did manage to turn them into some sick amount of Hyatt gift cards. I don’t remember the total amount, but it was enough to stay in an over-the-water bungalow at Park Hyatt Maldives.
Stay tuned. Capital One “capped” this offer at the first billion points handed out, and the offer was fulfilled in less than a month IIRC.
Capital One ultimately gave out more than a billion points, despite the cap, though the offer did end early.
Last year they didn’t know until the last minute how they’d handle account verification for the ‘match’ and I suspect they still won’t.
I’d rank this as perhaps the 3rd best credit card signup offer, behind the 100,000 AA Amex/Visa offer, and behind the first and second times that Chase offered 100k on the BA Visa.
Sadly, the leveraged Hyatt gift card option is no longer available as I understand it. (Having cancelled my card, my small business card, and my wife’s card, I no longer have access to check.)