Capital One Sweetens its Venture Offer With 25,000 Mile Sign-up Bonus

MCLEAN, Va., June 28, 2011 /PRNewswire/ -- Capital One Financial Corporation (NYSE: COF) today announced a new introductory offer on its popular Venture Card (www.capitaloneventure.com), delivering additional value to its customers. Just in time for the summer travel season, new customers that sign up and spend $1,000 within the first three months now receive a bonus of 25,000 miles, more than double Venture's previous introductory offer of 10,000 miles.

"There's no better time than the beginning of the summer travel season to up the ante with a new introductory offer. With double miles, no caps on how much you can earn, no blackout dates and no foreign transaction fees, Venture is the ideal travel card," said Shane Holdaway, Vice President of Marketing and Analysis at Capital One. "We are confident that once customers experience the rich value associated with this new offer and the simple redemption process, Venture will become their card of choice."

New Venture cardholders can continue to grow their travel rewards with double miles on every purchase, every day – without the restrictions commonly found in rewards programs. Miles can be redeemed for any travel related expense, such as airline tickets, hotel rooms, cruises and rental cars. Furthermore, cardholders can fly on any airline at any time with no blackout dates. And those traveling abroad this summer can rest assured that they will not be charged foreign transaction fees. Other cards can charge up to 3% or more for every purchase made overseas.

For consumers seeking a card with no annual fee, Capital One also offers a new introductory offer on its VentureOne Card – 10,000 bonus miles after spending $1,000 in the first three months. With VentureOne, cardholders earn 1.25 for every dollar spent on any purchase, any time.

Customers simply make their travel purchase using their Capital One Venture or VentureOne Card, then call Capital One or go online to reimburse the charge with miles. The cost of the transaction is refunded on their next statement.

Features of the Venture card include:

• Earn 2 miles per dollar on all net purchases, every day
• Rewards don't expire; no limit on how many miles you can accumulate; no special spending categories; no separate rewards enrollment requirements
• No foreign transaction fees
• Get 25,000 bonus miles when you spend $1,000 in the first three months
• Fly free on any airline, any time, with no blackout dates
• Redeem for any travel purchase (air fare, hotel room, rental car, etc.)
• Simple redemption schedule: multiply the travel purchase by 100 (simply add two zeros to the cost) and trade in that number of miles to pay for it
• Annual fee of $59 waived during the first year
• Exclusive customer service
• Access to exclusive benefits, including preferred access to popular entertainment, sporting and dining events and special offers from leading hotels and retailers

For more information 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 $125.4 billion in deposits and $199.3 billion in total assets outstanding as of March 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.

SOURCE Capital One Financial Corporation