Capital One Rewards Catalog Holiday Specials Good Until January 31

Got an email from the Capital One No Hassle Miles Rewards program.  They are extending the specials in the Capital One Rewards Catalog Holiday 2008 edition until January 31.  The original catalog cover said that the offers were only for a limited time through 1/15/09.

What kind of deals are available?

As with most credit card points and miles programs, the merchandise tends to be a lesser value than things like redeeming miles for travel, gift cards, cash, or a statement credit.  Still, if you are interested in something and don’t really want to “pay” for it, there is no reason to not use your miles on it. 

It is true that a Nintendo Wii console with one game, one nunchuck and a remote for 82,750 miles may not work out to the best price you can get anywhere, the fact is that you can have one for 82,750 miles if you want.

Good Value Rewards

The best way to determine if you are getting a good value for your Capital One No Hassle Miles is to find the price of what you want from the catalog and then convert that amount of dollars into miles for a statement credit or cash.  Or, if you can find the item at a store that has a gift card reward, that can be done too.

Generally, you can get a statement credit or cash for 200 miles per dollar.

The math:

• 82,750 miles / 200 miles per dollar = $413.75

So, if you can find a similar Nintendo Wii for less than $413.75, then you would be better off buying it and then applying for a statement credit or cash.  Keep in mind that the redemption amounts may not work out such that you can get back exactly the amount you spend, but you can definitely come close enough.

Related posts:

1. Capital One Rewards Catalog Holiday 2009 Edition
2. Capital One No Hassle Rewards Catalog
3. Capital One Rewards Catalog – No Hassle Miles – Travel Rewards