I signed up for the same (or similar) No Hassles reward account, but it caps me to ten bill pay transactions per month (@ 10 points per payment).

I'd suspect the card swipes are capped at ten (or perhaps something a bit higher, but almost certainly less than 100 per month), so you won't be able to earn as quick as you would like.

I also would think your card would be shut down if you did do that many transactions, or at least have your card put on stop all the time by the fraud prevention team. Of all my credit and banking relationships I have, Capital One is by far the most aggressive in fraud prevention. As I travel and spend internationally, I have had to call into the fraud prevention team to unblock my account quite often.