Recently, we wrote about Capital One removing the ability to redeem your points and cashback for gift cards. They have made a new change, but instead of taking options away, they are are actually adding in new things – at least temporarily.
Capital One has added the ability to redeem points for a few different things, including: takeout, restaurants, and streaming. The way this works is you make the purchase, and later, you “cover your purchase” by redeeming your points (at 1 cent per point). These points go towards the purchases, and cover the charges. This change is valid until June 30th, 2020.
I think this is a pretty positive change. I’m sure there are people out there that have lost, or at least substantially reduced their income in the last coupe of months, with a ton of unredeemed points. Capital One has added the ability to at least get some sort of food, or keep us entertained while many of us are under some sort of stay at home order. It’s a shame that this is only valid until June 30th, we’ll have to see if it gets extended out.
The only thing that is weird is that they disabled the ability to redeem points for gift cards. If they were making things more accessible for more people, why did they get rid of the gift cards? Maybe it doesn’t even matter, as many businesses are closed right now, but still, if we are increasing options, we may as well keep the existing ones open.
What do you think about the ability to redeem your points for take out and streaming services? Let us know down in the comment section below.