![\"credit](\"http:\/\/financegourmet.com\/blog\/wp-content\/uploads\/2008\/12\/creditcards.jpg\" "\\"credit")
<\/a>Now that Citibank has decided to nearly double my interest rate (from 9.99% to 16.99%), I am re-evaluating my Capital One Miles Plus card.\u00a0 One of the great benefits I used to get from my Capital One MasterCard was the ability to redeem point for gift cards.\u00a0 I furnished my daughters bedroom on the back of 2 $250 Toys R Us gift cards.\u00a0 They used to cost 10,000 points for a $100 gift card.\u00a0 In other words, a 1% redemption rate.<\/p>\nBut, the cost has seemingly doubled.\u00a0 The recent Capital One No Hassle Miles Holiday Reward Catalog<\/em> lists several gift cards, all at a rate of 20,000 points for a $100 gift card, or just 0.5% which sounds just terrible.<\/p>\n Some examples:<\/p>\n It is that last one that hurts the most because I know for a fact I got that for the better rate before.<\/p>\n But, there is a new wrinkle.\u00a0 Earning points is different now too.<\/p>\n The card used to earn 1 mile per dollar, so figuring out the monetary value of rewards was pretty easy, but things have changed.<\/p>\n The Capital One Miles Plus MasterCard earns 2 miles per dollar<\/strong> at certain stores:<\/p>\n Then, the Capital One card earns 1.25 miles per dollar<\/strong> spent every where else.<\/p>\n So, theoretically, I would be getting the same return as before for those 2 miles per dollar shopping spots, but 75% less return for everywhere else.<\/p>\n To break it down, here is the monetary return on Gift Cards from the Capital One Rewards Catalog:<\/p>\n 10,000 miles \/ 1.25 miles per dollar = $8,000 dollars spending = $50 Gift Card = 0.625% Cash Back Equivalent<\/strong><\/p><\/blockquote>\n Considering there is no shortage of companies that will over card holders 1% cash back, the Capital One Miles Rewards Card moves to a FAIL<\/em><\/strong> for gift card rewards.<\/p>\n We\u2019ll take a look at travel rewards next. If they aren\u2019t much, much, better, then I guess it will be time to analyze rewards cards again.<\/p>\n .<\/p>\n Analyzing the Capital One No Hassle Rewards credit card as it applies to the Capital One Rewards Catalog offers for gift cards.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[85,86,658,435,437],"class_list":["post-162","post","type-post","status-publish","format-standard","hentry","category-credit-cards","tag-capital-one","tag-capital-one-card","tag-credit-cards","tag-reward-miles","tag-rewards","no-featured-image-padding"],"_links":{"self":[{"href":"https:\/\/financegourmet.com\/blog\/wp-json\/wp\/v2\/posts\/162","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financegourmet.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financegourmet.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financegourmet.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/financegourmet.com\/blog\/wp-json\/wp\/v2\/comments?post=162"}],"version-history":[{"count":0,"href":"https:\/\/financegourmet.com\/blog\/wp-json\/wp\/v2\/posts\/162\/revisions"}],"wp:attachment":[{"href":"https:\/\/financegourmet.com\/blog\/wp-json\/wp\/v2\/media?parent=162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financegourmet.com\/blog\/wp-json\/wp\/v2\/categories?post=162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financegourmet.com\/blog\/wp-json\/wp\/v2\/tags?post=162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
Earning No Hassle Reward Miles<\/h3>\n
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