Capital One quietly changed the rewards program for some of its popular credit cards — why all consumers should pay attention
For some Capital One COF, -1.05% credit-card holders, it’s gotten more expensive to turn rewards miles into gift cards.
The list of retailers whose gift cards are now more expensive on a miles-basis include, among others: Given the likelihood that changes will happen — and that they will reduce the value of points or miles earned — Schulz said consumers shouldn’t hoard points for very long. “They don’t tend to get more valuable over time, they tend to go in the other direction,” he said.
Nevertheless, consumers will usually want to think twice before converting their credit-card rewards points or miles into gift cards.
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