PayPal has partnered with numerous banks to allow points to be redeemed during any PayPal purchase. Capital One is now joining and allowing points to be cashed out on PayPal purchases, according to what we’ve learned from the Capital One media team.
Starting on October 20 and over the next couple of weeks, Capital One customers will be able to enroll in the program and start using their rewards when they add their card to PayPal. This is valid on the Venture, Quicksilver, Savor, and Spark Business card lines.
When using cash-back cards at checkout, $1 in cash rewards is worth $1 in redemption value during checkout with PayPal. When using miles cards at checkout, 125 miles are worth $1 in redemption value when checking out with PayPal.
This new option is not really useful since most people will prefer to cash out their Venture/Spark miles for 100:$1 when redeeming to offset travel purchases. I suppose it’s an option for someone who can’t come up with any travel purchases or who just wants to close out a small rewards balance in the easiest way.
Ugh. These banks need to stop wasting our time with these shitty partnerships. Give us some actual benefits that outvalue current valuation.
fooling people to cash out points at sh** rate is what they always want
I’m fixing the title for you, “Capitl One partners with paypal to devalue their rewards points.”
🙂
i changed the card from points card to a cash back and 300k points turned into 3000$