Capital One Pay With Points Coming To Amazon

[imaximous]

There's no obvious advantage to paying with points, but it may be worth adding the option because I see a bunch of offers for doing so.

I recently got offers for using cash/points from Discover, Citi and Amex, and you don't have to pay for the whole purchase with points. I just did a Citi offer for paying with TYPs. I think it was $15 off $50 purchase. I used 1 TYP and paid the rest with DC card and got my $15. A couple of weeks ago, I did one with Discover that was much better. I used 1 penny to get 20%. Savings was $50 on that one (max discount). 

Anyway, just saying that CapOne might be offering deals like that for paying with points. Add the option to your Amazon account and only use it if you see a good offer pop up.

[AverageJoesCredit]

Starring Eddie Murphy??

[K-in-Boston]

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@AverageJoesCredit wrote:
Starring Eddie Murphy??

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LOL would you believe I actually caught myself typing Coming To America from muscle memory when I posted this?  I caught it halfway through the word.

I agree that if you're going to use pay with points on this or other cards like the Amazon cards where you're getting 1 cpp, it's better to just take the statement credit since you'll earn some rewards on the purchase itself.  But like we've seen with Amex, Citi, Chase, and Discover, there will likely be an opportunity to use something like 1 point toward your order to get $10 or 25% or whatever it is off of your Amazon purchase.  Those percentage deals can be especially sweet on big sale items like Prime Day; thanks to an Amex offer and the way that Amazon takes the discount off of the original price, I essentially scored a free pair of like $300 Bose noise-canceling headphones with purchase of a $200 Whole Foods gift card a year or so ago!

[staticvoidmain]

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@Anonymous wrote:

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What is the advantage?   If you can redeem for cash at the same rate, it's better to do that and use that to pay the bill, getting extra rewards on the purchase.   I guess with the venture, where redeeming for cash/statement credit is a lower rate, this might make sense

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It took me a while to wrap my head around the math for this. I've been using Chase Amazon Visa's points this way for a long time before I realize the potential savings I could make by using the points as a statement credit. I felt bad personally because I should know these things. I think for the average user, this is something they would not think about.

[Anonymous]

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@Meanmchine wrote:

Cap1, who hsnt given me a CLI or a prequal offer for over 2 years now ..... Ill pass and let Synchrony get the swipe

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I haven't gotten a CLI from cap 1 in 10 years. So I requested one. I had a better chance of snowboarding in Miami this past summer than getting the CLI. 

It's not you.

[Anonymous]

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@staticvoidmain wrote:

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@Anonymous wrote:

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What is the advantage?   If you can redeem for cash at the same rate, it's better to do that and use that to pay the bill, getting extra rewards on the purchase.   I guess with the venture, where redeeming for cash/statement credit is a lower rate, this might make sense

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It took me a while to wrap my head around the math for this. I've been using Chase Amazon Visa's points this way for a long time before I realize the potential savings I could make by using the points as a statement credit. I felt bad personally because I should know these things. I think for the average user, this is something they would not think about.

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Yep, even getting only 1% cash back with a card is better than paying with points or DISCOVER cash back. I always take statement credits.

[NoMoreE46]

Got this email earlier today and I signed up for this redemption avenue.

[Anonymous]

This generally isn't a great use,  as this values the points at 0.8cpp  (see https://thepointsguy.com/news/capital-one-amazon-shop-with-points-announcement/)  So this makes the Venture a 1.6% card with an annual fee.   Now if you got the card for the SUB and have no travel, maybe for convenience, but otherwise not worthwhile!

[NoMoreE46]

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@Anonymous wrote:

This generally isn't a great use,  as this values the points at 0.8cpp  (see https://thepointsguy.com/news/capital-one-amazon-shop-with-points-announcement/)  So this makes the Venture a 1.6% card with an annual fee.   Now if you got the card for the SUB and have no travel, maybe for convenience, but otherwise not worthwhile!

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Thanks for the value explanation.

Yeah, not the best vaue but I have only 289 miles so I really can't use it for travel.  MY OCD needs to get rid of this lingering amount....

I have a  0% BT on this card so it won't be used until it is zeroed out.    Straight cash redemption (acct credit) is $1.44 but is worth $2.31 on Amazon    However in order to use these miles, the remainder of the purchase must be put on the Venture card which me aints gonna do.  

[Dalmus]

Actually, Cap1 cards are probably the best card to use while having a BT balance.

They clearly tell you on each statement how much to pay in order to avoid paying interest on your new purchases.