Bank Deal: Earn 1.00% APY on an FDIC-insured savings account at Barclays.
This is just a quick followup to the Capital One Venture Card offer that I mentioned last week. In case you missed it, Capital One is matching your the mileage balance from your existing frequent flyer credit card up to 100k miles. All you have to do is submit proof of your mileage balance and then spend $1k with your new Venture card in the first three months. This offer is good through May 13, 2011 and the mileage match is limited to a cumulative total of one billion miles.
Earlier today, a reader e-mailed me with the following question:
I have more than 100, 000 miles with the AmEx Delta SkyMiles card. Do I keep those and get an additional 100, 000 miles in my Venture card account? Or do the AmEx miles somehow get transferred to Venture to become 200, 000?
This is a great question, and Capital One actually addressed it in their FAQs:
What happens to my existing airline credit card miles? Nothing. They’re still yours, we’re only matching them. Your existing miles are not affected by this promotion. We’re confident that you’ll want to stick with Venture once you experience the great features and benefits, like double miles on every purchase, every day.
In other words, there’s no real risk to this offer… You keep your existing miles, plus you get a matching amount in your Venture card account. Not only that, but new Capital One customers also get an additional signup bonus of 10k miles.