Originally Posted by
muji
YourNameHere, could you let me know where you found that stipulation? I'm not doubting your word, it's just that I haven't come across it in the explanations and FAQs. (I had assumed that when buying an airline ticket for $1500 on the Capital One card that Capital One would let you apply your 100,000 miles (equivalent to $1000) on your credit card bill as a credit, leaving your amount owed on the bill to be just the remaining $500.)
There has been a post or two by CapOne cardholders either in this thread or in the big CapOne thread stating that this is how it is done.
It makes sense because I can see in my online CapOne account, in the Rewards Summary section, there is a list of travel charges (so far only one -- a $100 payment on a cruise) made in the past 90 days. It shows that I need 10,000 VM for a credit to offset this charge. There is nothing indicating I have any way to offset only a part of this charge since I have less than 10,000 VM right now.
We don't get to apply our VMs as a general statement credit. We have to have specific travel-related charges to apply the VMs against.