In a Facebook Live video featuring Captain Obvious, Jeopardy legend Ken Jennings, Capital One, and Hotels.com announced a new partnership to offer Capital One Venture Rewards Credit Card and Capital One VentureOne Rewards Credit Card holders a lucrative proposition.
With the new partnership, users of those two credit cards can earn a whopping 10 miles per dollar spent at Hotels.com. It seems that more and more lenders are offering such partnerships to set themselves apart from the competition. For example, in November 2017, LendingClub and United Airlines partnered to offer airline miles to both borrowers and investors on its marketplace lending platform.
The new deal between Capital One and Hotels.com is a boon for Venture and VentureOne cardholders. The card already offers an impressive 2X miles per dollar spent. Most other travel credit cards offer a base rewards rate of 1% and offer more rewards for specific purchases, forcing you to spend more in bonus categories to rack up rewards.
What’s more, the 10X rewards rate can actually be viewed as more if you have a Hotels.com account. That’s because you get a free night after every 10 nights you pay for — and the value of the free night is the average of the previous 10 nights you paid for — that’s essentially another 10% back. So, you’re essentially getting 20% off when you use your Venture or VentureOne card to book on Hotels.com.
Is this partnership a good deal for Venture cardholders?
That said, this doesn’t necessarily mean you should jump on this card. The rewards rate only counts if you book a hotel, not one of Hotels.com’s vacation packages that include the flight. Also, you won’t get it if you pay at the property, meaning you have to prepay your hotel stay. If you end up canceling, you could incur a fee.
You should also consider other card features you might want in a travel card, such as airline perks, elite hotel status, and extra travel insurance protections. Also, most of the best travel credit cards charge annual fees. If that’s not something you want, consider that as well.
For the record, the Venture does charge an annual fee, but the VentureOne doesn’t.
To make sure you’re getting the right travel credit card, compare the top travel credit cards to see which rewards programs and features work best for you.