I have had a Capital One Visa card for many years, and it’s one of the ones that mostly sits idle in my drawer. I used it recently just to keep the card current, as it will hurt my credit score if they decide to close the card.
Today I read that Capital One is raising the interest rate on thousands of their customers, so I signed into my online account to see what my interest rate is. For me it doesn’t really matter, as I always pay off my cards every month, but if I ever did need to carry a balance I want to make sure I do it smartly…
I couldn’t find my interest rate, but I did notice a rewards section, and clicked on it just for giggles. I do have rewards on my other credit cards, and I’m always very aware of how close I am to redeeming points – usually for cash. After navigating the Capital One Rewards section for a few moments I saw that I had enough points (just over 20,000) to redeem then for a $100 gift certificate from one of numerous retail outlets, use it for travel, shopping, make a donation to charity, get a statement credit or have them send a check.
They must have offered a 20,000 bonus for signing up for the card, so this money has likely just been sitting there for years. I’m kicking myself for not taking advantage of it before, but I’m thrilled that I’ll be getting a check for $100 of “found money” in just a few weeks.
Check your rewards programs, folks.