"Miles One" ff program changes
 

Hi all.
Did you recently get mail from the Capital One credit card "Miles One" program and toss it out thinking it was yet more junk mail (like I almost did)? It isn't junk mail. Rather, it's a notice that in mid-March 2004, the program will drastically change. The bottom line: your miles WERE worth a potential maximum of two cents per mile; after March 15th, they'll be worth a fixed 1.25 cents per mile. The good news is that you'll be able to obtain air tickets any legal way you can imagine. The bad news is that you'll be charged 8,000 miles for every $100 of the ticket price. Example: A $1,000 ticket under the old system = 50,000 miles; under the new system = 80,000 miles. I guess all the FF programs are taking a hit and it was only a matter of time.
-Mark M.

Wow. I'm glad I just redeemed my miles! We were talking about switching anyway--guess it's time.

Qestion I have is, if we buy a $500 ticket and only have enough credit miles for a $400 ticket, can we still use the miles and pay only $100 for the ticket. Now that would be a good deal.

topping

Mark,

Thanks so much for the info. I remember that "junk mail" and didn't pay much attention to it. Thanks to you I went ahead and booked our flights to Italy today with the existing mile levels! This forum is invaluable!!!!!

herself,

When I redeemed my miles, the ticket I needed was $1033, and I had credit for a ticket up to $1000. Yes, I could still do it, paying the $33 difference. There were a few other fees involved as well, but nothing major. All in all it was a very easy transaction.

Topping this for "grandmere" and others.
By the way, they've changed the name of the credit card, so it's no longer "Miles One."
Happy travels!
Mark

There was another thread about this recently and a lot of people chimed in about how "great" this program is but it isn't necessarily any more generous than a lot of regular airline FF programs, and in many ways, much more restrictive (21 day advance purchase, limits on the amount the ticket can be worth, no open jaws, no foreign flag carriers, high mile requirements for trips, etc.
It pays to compare...I wish now I had never even entered that program.