Capital One Issues Bold "Double Miles Challenge"

Capital One Financial Corporation (NYSE: COF) recently announced a bold new offer, launching the Venture "Double Miles Challenge" (www.capitaloneventure.com) which gives consumers who open a Capital One Venture Card the opportunity to earn double miles, up to 100,000, for every dollar they spent on a major travel rewards credit card in 2011. The limited time offer expires when Capital One reaches the one billion mile mark or May 1st, whichever comes first. The Double Miles Challenge follows last year's wildly successful Match My Miles campaign, which gave consumers the chance to match up to 100,000 miles they had in an airline credit card rewards program. The company gave out more than a billion miles to new Venture customers during this challenge.

The Venture Double Miles Challenge has received rave reviews from media and travel industry experts. Ivan Daniel of DailyMarkets.com said, "This 100,000 miles giveaway is the biggest credit card signing bonus so far this year, so it is definitely a deal you don't want to miss." Tim Winship of FrequentFlier.com adds, "If you charged a lot last year, and you're in the market for a wallet-worthy Visa travel-rewards card, this offer is a winner. A 100,000-mile bonus is worth $1,000 toward travel expenses, with no blackout dates or capacity controls." 
 
To receive the bonus double miles, consumers must be approved for a Venture card, then register for the challenge and provide a 2011 year-end summary for their current travel rewards credit card. New cardholders are eligible for the bonus miles when they spend $1,000 on their Venture Card within 90 days of approval. This promotion is available on a first-come, first-served basis. 

The Venture card has been lauded as a top travel rewards card by publications like MONEY® Magazine, BusinessInsider, NerdWallet and Cardratings.com. Features of the card include:

• Earn double miles on every purchase, every day
• The flexibility to fly free on any airline, anytime, with no blackout dates or restrictions
• The ability to redeem miles for any travel purchase -- airline, hotel, rental car and more – before, during or after travel
• No foreign transaction fees - others charge up to 3% or more when the cardholders use their card to make purchases outside the United States
• No limitations on how many miles can be accumulated and no miles expirations
• Easy redemption as cardholders can simply make their travel purchase (by whatever means they prefer) using their Venture card, then call Capital One or go online to reimburse the charge with their miles. The cost of the transaction is refunded on the next statement
• Exclusive award-winning customer service
• Access to exclusive benefits, including preferred access to popular entertainment, sporting and dining events and special offers from leading hotels and retailers

To learn more about the Venture "Double Miles Challenge" promotion, visit www.capitaloneventure.com or Capital One's Facebook page, www.facebook.com/capitalone.