Originally Posted by
highstream
Well yes, you've restated in different terms what I did. The question is, how is this reconciled legally, since on the face of it 1.25 miles for every $1 spent doesn't equal .0125 miles for every dollar spent arithmetically.
You're leaving out the terms and conditions that describe the rate of redemption, which are (from the Venture card website, I can't find one called "My Rewards" offhand but Cap1 is all the same for redemption):
2) Book new travel reservations
Go online to capitalone.com or contact our Rewards Center to book your flight, car rental or hotel and use your miles to pay for your travel.
The number of miles needed for travel redemption varies and is based upon the cost of the travel purchase. Here is how it works:
Simply multiply the cost of your travel purchase by 100. For example, if your travel purchase costs $200, you would multiply that by 100 to determine you need 20,000 miles to redeem.
As
trooper stated, earning rates and redemption rates are two different things. There's no legal issue and they have clearly disclosed the program parameters to you,
provided you read the entire T&Cs and not just the earning rate terms!