I can't believe how ridiculously confident everyone here is that they will get $1100 from C1, for spending $1000. You really are delusional.

airlines can do it because they are giving you a seat that otherwise would be empty, and has a flexible value to it from zero up. This supposedly =cash, and therefore very unlikely to be fulfilled in the way people are talking here.

Capital One are gaming you. Gaming the gamers. They are not dumb, and yes they know about mileage freaks like us. Please be rational, and keep a firmly cynical eye on these offers.