Capital One Awards One Billion Miles in Just 31 Days

MCLEAN, Va., April 4, 2012 /PRNewswire/ -- Consumers responded overwhelmingly to the Venture 2012 "Double Miles Challenge" and Capital One Financial Corporation (NYSE: COF) announced today that the one billion mile allocation as part of that promotion was depleted in just 31 days. Launched on March 7, the Venture Double Miles Challenge (www.capitaloneventure.com) gave consumers who opened a Capital One Venture Card the opportunity to earn double miles, up to 100,000, for every dollar they spent on their travel card in 2011.

"We issued a bold offer with the Venture Double Miles Challenge and saw an overwhelming response. It's clear that people want more from their travel rewards card," said Mike Wassmer, Executive Vice President of US Card at Capital One. "We're excited to show these new customers what they've been missing with their other travel cards. This promotion may be over but consumers can still get the Venture card and earn double miles on every purchase, every day."

The Venture Double Miles Challenge received rave reviews from media and influencers who cover the frequent travel card category.  

"It's called the `Venture Double Miles Challenge,' and I think travel rewards credit card users everywhere are going to love it," stated Credit Net. "This Venture offer is one of the best travel bonuses out there. Even if you miss out on the promotion, the card's standard rewards program of 2 miles per dollar spent is still a great deal," added CreditKarma.

These influencers are also continuing to rank Venture the best in its category. The consumer information website NextAdvisor rated Venture the best travel rewards card. TripBadger, an online blog, said, "The Capital One Venture Rewards card is a top-rated miles card. It offers the flexibility to use your miles on any airline, offers double miles for every dollar spent, and has reasonable fees."

Consumers who apply for a Venture card moving forward still have the opportunity to qualify for 10,000 bonus miles when they open a new Venture account. Features of the card include:

• Earn double miles on every purchase, every day
• The flexibility to fly on any airline, anytime, with no blackout dates or restrictions
• The ability to redeem miles for any travel purchase -- airline, hotel, rental car and more – before, during or after travel
• No foreign transaction fees - others charge up to 3% or more when the cardholders use their card to make purchases outside the United States
• No limitations on how many miles can be accumulated and no miles expirations
• Easy redemption as cardholders can simply make their travel purchase (by whatever means they prefer) using their Venture card, then call Capital One or go online to reimburse the charge with their miles. The cost of the transaction is refunded on the next statement
• Exclusive award-winning customer service
• Access to exclusive benefits, including preferred access to popular entertainment, sporting and dining events and special offers from leading hotels and retailers

To learn more about the Venture Card, visit www.capitaloneventure.com

About Capital One   
Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A. and Capital One Bank (USA), N. A., had $128.2 billion in deposits and $206.0 billion in total assets outstanding as of December 31, 2011. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Capital One, N.A. has approximately 1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.

Contact: Chris O 'Neill
804.284.5443
[email protected]

SOURCE Capital One