Credit Card Programs - Best rewards program for buying computers & equipment? [C1 "No Hassle" vs "Venture"]

Hi,

We are considering applying for a Capital One Business card. We do substantial business with one specific supplier.

With the "Visa Business Platinum with Preferred No Hassle Miles," if the supplier fits into one of C1's categories, we would get 3% (or 3 miles/$) back. If the supplier doesn't fit into one of C1's categories, we would only get 1% (or 1 mile/$).

Of course, with 1 mile/$, we would then be better off going with the "Venture for Business" - 2% C1 Business card.

Is there a way to determine the "category" of my supplier?

Thanks,
Tim

Is there a way to determine the "category" of my supplier?


Make a purchase using any VISA card, and ask that card issuer to tell you the merchant classification.

Thanks so much for your help!

My supplier's merchant classification (from a recent Visa charge) is: "Computer, Computer Paraphernalia, Equipment"

One of C1's category choices is: "Computer and Electronics
Electronic Stores, Computers, Software, Telecom, Computer Networking"

That should work!

Thanks again!
Tim

Why don't you get both. Put the relevant vendors' charges on the 3x card, the rest on the 2x card, and transfer the points freely between the two cards.

Since we got the Capital One "Visa Business Platinum with Preferred No Hassle Miles" card a few months ago, we have racked up several hundred thousand "miles," due to all of our spending being in one particular category (earning 3x miles).

I (apparently falsely) expected that we would be able to redeem them for a check at the rate of 100,000 "miles" for $1,000. Alas, my expectations were wrong. For 100,000 miles, we are offered $500.

Short of cash, it appears that the best value can be achieved via Target, Best Buy, or Hyatt gift cards. The largest denominations ($250 or $500 gift cards) provide the 1 mile = $0.01 for those gift cards...but I'm not sure how we would (reasonably) spend several thousand $$$ of gift cards at these locations.

I have seen some mention of also getting the "Venture" card, which would allow us to transfer the miles/points between programs. Does the Business "Venture" card/program have a redemption value that will allow for 1 mile = $0.01? If not, is there any other way to redeem the "No Hassle" miles at a rate of 1 mile = $0.01?

Any advice you can offer will be appreciated.

-Tim in Hollywood

Never tried the 'No Hassle Points'. I have the 2 Venture cards from their 'Match Promotion' last March.

I can tell you that as far as Venture points go, if you're simply trying to redeem the points for cash, then yes, they are only worth 1/2 of a cent each.

If you redeem them for travel (hotel, flights, rental car, cruises, amusement park tickets, and a bunch of others in this very broad category), then the the points are worth their full 1 cent per point value. You don't even need to book any of your travel through them. Just point to something that has posted to your statement, tell them it's travel related, and they'll redeem enough points to cover the cost of that item (in cents). Much of the stuff can even be done online. Booked 4 airline tickets costing $2300. The moment the charges posted, I logged in to the reward redemption site, chose the option that says 'Redeem for Previously Purchased Travel', and simply applied my points to those charges.

Less than a day later, my card reflects a $0 balance again, and 230,000 'venture miles' had been deducted from my account. All said, process took less than 1 minute.

What's also nice is I happened to earn 4,600 venture miles for buying the plane tickets as well.

Thanks so much for the valuable info.

As I mentioned in the original post, the selection of 1 mile = $.01 gift card options are very limited in the "No Hassle" program. I'll first check to see if the "No Hassle" program offers the redemption that you mentioned (click on previous travel charge). If so, I'm done. If not, I guess I'll apply for a Venture card.

Thanks again!

Why are you so locked in to Cap1?

There are many other better options, IMHO, such as SPG Amex or Chase Sapphire Preferred.

I'm not locked to C1 at all. Always open to better options. Here's our situation:

We have a supplier that accepts credit cards. No option for a cash discount.

We expect to run $250,000+ per year in business charges on credit cards. C1 with the designated category gets me 750,000 "miles" in that situation. I can either redeem for gift cards or previously charged travel at 1 mile = $.01 This is effectively 3% earning. The redemption options are almost as good as cash back for us.

Again, if there are better options, I'd love to know about them! :D

Combined & re-titled two threads started by Tim in Hollywood because the June discussion provides useful background for the September followup.

Why are you so locked in to Cap1?

There are many other better options, IMHO, such as SPG Amex or Chase Sapphire Preferred.

What makes those better than the venture card? A straight 2% seems pretty good actually.