Different credit cards offer bonus rewards in various categories, but you’re unlikely to find one single card that aligns perfectly with your complete monthly spending. However, combining the earning power of multiple cards enables you to maximize rewards on every purchase.
The Capital One Duo pairs the 3% bonus categories of the SavorOne with the unlimited miles earning of the Venture cards. Learn more about the Capital One Duo, including which cards to choose and how to earn miles.
Which Cards Are Included in the Capital One Duo?
Capital One has multiple rewards credit cards, but people looking to maximize their rewards should focus on just a few to use the Capital One Duo strategy.
The first card you’ll need is the Capital One SavorOne Rewards Credit Card. This card earns unlimited 3% cash back at grocery stores (excluding superstores like Walmart® and Target®), dining, entertainment and select streaming services, plus 1% cash back on all other purchases. Plus, you don’t need to worry about earning enough rewards to justify an annual fee, since there isn’t one. (See Rates & Fees)
Recently, Capital One introduced the ability to convert cash back rewards into miles on certain cards. This opens up a world of opportunity to maximize the value of your rewards.
You have three choices when it comes to pairing a card with your Capital One SavorOne Cash Reward Credit Card. Each Venture card has a different earning structure, benefits and fees to match your budget and spending style:
— Capital One Venture X Rewards Credit Card. This luxury travel credit card earns up to 10 miles on travel booked through Capital One Travel and unlimited 2 miles on all other purchases. Although it has a $395 annual fee, it comes with a $300 travel credit and 10,000-mile anniversary bonus which offset that cost. Cardholders also receive complimentary airport lounge access, Premier and Lifestyle Collection benefits and Hertz President’s Circle elite status, among other benefits. (See Rates & Fees)
— Capital One Venture Rewards Credit Card. The Venture Card is a solid travel card that earns 2 miles on all purchases and 5 miles on hotels and rental cars booked through Capital One Travel. It includes a Global Entry or TSA PreCheck credit of up to $100 and Hertz Five Star elite status, among other benefits. It has a $95 annual fee. (See Rates & Fees)
— Capital One VentureOne Rewards Credit Card. The VentureOne allows travelers to earn flexible rewards without paying an annual fee. You’ll earn 5 miles on hotels and rental cars booked through Capital One Travel and 1.25 miles on all other purchases. The card also includes a 0% introductory APR offer on purchases and balance transfers. (See Rates & Fees)
[SEE: Best Capital One Credit Cards]
Pros and Cons of the Capital One Duo
Using the Capital One Duo strategy provides numerous benefits, but it has some disadvantages.
[READ: How to Maximize Points With the Chase Trifecta]
[READ: How to Maximize Points With the AmEx Trifecta]
How to Maximize Miles
Having the Capital One Duo is all about maximizing the value of your rewards when earning and redeeming miles. Follow these tips to get the most out of your miles.
Earning Miles
The Capital One Duo helps people maximize miles on every purchase by using the more advantageous card for every purchase. With the Capital One SavorOne Cash Rewards Credit Card, your everyday spending purchases like dining, groceries, entertainment and streaming will all earn 3% back.
Julia Menez, a points strategy coach and podcaster at Geobreeze Travel, reminds cardholders, “The SavorOne card also offers 8% back on Capital One Entertainment purchases,” which includes tickets to concerts, sporting events and more. Menez also recommends using a free app like CardPointers to help you decide which card to purchase with in order to maximize rewards.
Everything beyond those types of purchases can then go on one of the Venture cards to earn elevated rewards on non-bonus category spending. With these cards, you’ll earn either 1.25 or 2 miles on every dollar you spend, depending on which card you have.
[Read: Best Rewards Credit Cards.]
Spending Miles
Capital One miles can be redeemed in numerous ways, but not all of them offer the same value. Here are a few ways to maximize the value of your miles when redeeming rewards.
— Covering previous travel purchases. You can use miles to cover travel purchases up to 90 days after the transaction date. This allows you to book travel now, and then earn more miles toward paying some or all of the travel cost with your rewards.
— Booking travel. Travel reservations can be booked through the Capital One Travel portal using your miles. The portal offers numerous guarantees to ensure that you’re getting the best price on your trip.
— Transfer partners. Capital One has more than 15 airline and hotel partner programs where you can transfer miles to book award flights and hotel rooms. These transfers combine with your existing miles and points in those programs.
“The key about the Capital One Duo is that it demonstrates the practicality of using two cards in tandem, one for enhanced earning, the other for enhanced redemptions,” says Kyle Stewart, director of Scott & Thomas Travel Personalized.
[READ: Cash Back vs. Travel Rewards: Which Is Better for You?]
Who Should Consider the Capital One Duo?
The Capital One Duo is an excellent option for travelers who want to maximize rewards on all of their spending. Capital One offers three Venture cards you can pair with the SavorOne Card based on your budget, travel style and spending habits. With this strategy, you’ll earn 5 or 10 miles on travel booked through Capital One Travel, depending on your Venture card; 3 miles on groceries, dining, entertainment and select streaming services; and up to 2 miles on all other purchases.
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What Is the Capital One Duo? originally appeared on usnews.com
