While Capital One’s Venture Rewards credit card isn’t typically the most exciting credit card for mileage nuts, their recent sign up bonus of up to 110,000 points was tempting enough to get thousands of people to sign up. You can redeem points towards covering travel expenses at a rate of one cent per point, though there were some other great opportunities out there as well.
One such opportunity was Hyatt’s $900 check certificates, which cost only 51,250 points, nearly doubling the value of points earned through this program. Unfortunately they raised the price of those redemptions almost overnight, from 51,250 points to 64,500 points per certificate.
While I have no personal stake in this since I didn’t apply for the card, it does seem a bit disappointing to issue a billion points to new members, only to quickly devalue one of the best deals. This is still a relatively good deal — offering close to 1.5 cents per point instead of one cent per point, but it’s not as good as it originally seemed. Regardless, given how ridiculously good the sign up bonus was, I doubt too many people will be complaining.
Hope most of you already had your points post and redeemed for the Hyatt certificates before the devaluation!