Capital One and Hotels.com Partnership: Earn 10x Rewards on Hotels.com Purchases, Stacked with 10th Night Free

Capital One recently announced a partnership with Hotels.com to earn 10x rewards on purchases when you pay with a Capital One Venture card.

Capital One + Hotels.com Partnership

  • Promotion is valid from now until Jan 2020
  • Capital One Venture + Capital One VentureOne will earn 10x points back at Hotels.com
  • Must book through 10x via Hotels.com/Venture
  • 10x is on top of 1.25x and 2x of the respective cards
  • Effectively 11.25x and 12x on Hotels.com

The 10x rewards on Hotels.com is valid for Capital One Venture and Venture One cards only. You must book hotels through Hotels.com/Venture to receive rewards. This most likely means that you can't stack any cash back portals.

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Capital One Venture Credit Card

  • Annual fee: $95, waived the first year
  • Signup bonus: 50,000 bonus miles after you spend $3,000 within the first 3 months of account opening
  • Earn 2x miles on every purchase
  • Metal card

The return on spend for the Capital One Venture card is 16.7% ($500 / $3,000).

Capital One Venture One Credit Card

  • Annual fee: $0
  • Signup bonus: 20,000 bonus miles after you spend $1,000 within the first 3 months of account opening
  • Earn 1.25 miles on every purchase

The return on spend for the Capital One Venture One card is 20% ($200 / $1,000 = 20%).

Collect 10 Nights, Get 1 Free

The reason why I'm a fan of this deal is that the 10x rewards stacks with Hotels.com collect 10 nights, get 1 free promotion. 

The free night value is calculated based on the average of the 10 nights. 

Example 1

  • Free night = average price of 10 nights
  • Free night = $100 * 10 nights / 10 nights
  • Free night = $100 in value

Example 2

  • Free night = average price of 10 nights
  • Free night = ($100 * 5 nights + $500 * 5 nights) / 10 nights
  • Free night = $300 in value

Optimal Strategy

When you combine the 10x and 10 nights promotions, you're effectively getting up to 22% return on spend.

Spend

  • $100 * 10 nights = $1,000 spent

Hotels.com Benefit

  • HB = $100

Venture/VentureOne Benefit

  • VB = $1,000 * 12x * 1 CPP = $120
  • VOB = $1,000 * 11.25x * 1 CPP = ~$113

Summary

  • Venture = $220 value / $1,000 spend = 22% return on spend
  • VentureOne = $213 value / $1,000 spend = ~21% return on spend

Bottomline

The Capital One Venture cards earn miles, so you earn 1 cent per point when you redeem miles for travel.

One thing to keep in mind is if you have status at certain hotels, they might not honor your status if you book through a third-party site like Hotels.com. 

There are other ways to get more cash back from Hotels.com, but those methods usually require buying gift cards and have purchase limitations. 

If you don't get positive expected value from the Capital One Venture card after the first year, you can always product change the card to the no annual fee Capital One Venture One card. 

Overall, I think this is a great deal, especially if you use Hotels.com often.