Capital One Aspire TRAVEL World MC -35,000 Mile welcome bonus worth $350!

[JWL]

Link to Offer

Card is now available across Canada.

Link to CapOne's page on ID verification for Anti-Money Laundering.
Link to my description of the ID Verification process for selected cardholders and applicants.

Details are here


Quick Summary

• It is a flexible points card where you book your own travel, then use your points to pay for a travel expenditure.
• Includes virtually all types of travel insurance (accident, delay, baggage, interuption, medical, auto)
• Also includes extended warranty and price protection.
• 2 reward miles for every $1 – on everything you buy. Each point is worth 1 cent, 100 points is worth $1, so the return is 2%
• 35,000 bonus reward miles on your first purchase
• 10,000 anniversary bonus reward miles every year
• Minimum $70K personal income or $125K household income required
• Annual interest rate = 19.8%
• Annual fee is $120, supplementary cards are free (no you can't just get a supplementary card). Cost is largely offset by 10K point bonus = $100 of rewards.
• Points can be transferred to another cardholder, with no fees or discounting.

Redemptions/"No Hassle Rewards"

Travel

• Redeem points against travel expenses (air, hotel, car, cruise, train, bus) qualify for redemption. What is considered "travel" is determined by MasterCard merchant codes, but CapOne has some flexibility if you call them on a clear error. For example, Priceline's merchant code is not travel but you can use your points against a Priceline expenditure if you call CapOne.
• You redeem against the actual discrete expenditure on the card so it covers taxes and fees as well as the actual travel cost.
• You have up to 90 days after an expenditure to apply reward points to it so you can spend now and continue to earn points to apply to it later.
• Single Expenditure up to $150 - redeem 15,000 points
• Single Expenditure $151 to $350 - redeem 35,000 points
• Single Expenditure $351 to $600 - redeem 60,000 points
• Single Expenditure over $600 - redeem 100 points per dollar spent
• You CANNOT use points to cover part of an expense. For example, if you spend $200 you can't use 15,000 points to cover $150 of the expense, you have to use 35,000 points. Or if you spend $700 you can't use 60,000 points to cover $600 of the expense, you have to use 70,000 points. Tip on how to manage this issue:
  • Have your travel vendor split the charge into 2 parts. IE Split $700 charge into $600 and $100 so you can use 60K points on the $600 charge. Still charge both parts to the card so the travel insurance will apply.
• For airline travel only you can split your expenditure into up to 10 tickets. Tiering is applied to each "ticket" and you can choose how many tickets you wish to redeem for. So If you spent $420 on airline travel, you could split it into 3 tickets of $140 and then redeem 15,000 points for each ticket. This would provide a better return than spending 60,000 points to cover the $420.
• You can split the purchase price of travel if the vendor co-operates. Eg Split $420 of travel into $350 and $70 so you can redeem 35K points for the $350.
• You CANNOT combine purchases when redeeming to get a better return.
• Some people might prefer to think of this card as a 1.5% cash rebate card with options to redeem for travel at up to 2%, rather than viewing the tiering as a deal-killer.

Other redemption options

• Merchandise from CapOne's catalogue
• Gift Cards
• Cash Back @ 1.5% (credit against your account or cheque upon request)

World MasterCard Travel Benefits
Full details here

Travel Emergency Medical
As the primary cardholder, you, your spouse and your dependent children, when travelling with either parent, are covered for trips up to 22 days, if under 65 years of age, and for trips up to 8 days, if 65 years of age or older.

Trip Cancellation
You'll be covered for up to $1,000 of eligible cancellation expenses per insured person, to a maximum of $5,000 per trip. Trip Cancellation covers you, as the eligible cardholder, your spouse and your dependent children when travelling with you and/or your spouse. It also covers up to two travelling companions.

Trip Interruption
If an illness, injury or other covered cause prevents you from continuing your trip, you'll be covered for up to $5,000 of eligible trip interruption expenses per insured person, to a maximum of $25,000 per trip. Trip Interruption covers you, your spouse, your dependent children and up to two other travelling companions.

Flight Delay
You may be reimbursed for eligible reasonable living expenses incurred during the period of a delayed flight or missed connection which lasts four hours or more to a limit of $250 per day and $1,000 per trip for all insured travellers.

Baggage Loss
If your checked baggage is lost by an airline you can be reimbursed up to $1,000 per trip for all insured travellers. The full cost of your tickets must be charged to your Capital One credit card.

Baggage Delay
If your checked baggage is delayed for more than four hours at your away-from-home destination, you, your spouse and your dependent children may be eligible for reimbursement of up to $100 per day for up to three days to purchase essential items.

Travel Accident Insurance
Receive up to $500,000 automatic travel insurance coverage for you, your spouse and your dependent children.

Car Rental Collision/Loss Damage Waiver
You'll be insured for up to 48 days if your rental car is damaged or stolen.

MasterAssist Travel Assistance
Provides 24/7 assistance for medical referrals, emergency cash transfers, lost documents and ticket replacements, lost luggage assistance and legal referrals when travelling outside your province of residence. Any costs incurred in connection with these services are charged to your Capital One credit card.

World MasterCard Everyday Benefits

Price Protection
When you use your Capital One credit card to buy a new item in Canada that is advertised for sale at a lower price within 60 days of purchase, Price Protection refunds the price difference up to $100 per item and $500 per calendar year.

Extended Warranty
When you use your Capital One credit card to purchase most personal items (and the full cost of the item is charged to your card), Extended Warranty coverage automatically doubles the original manufacturer’s warranty for up to two additional years.

Purchase Assurance
Most personal items purchased are automatically insured against theft, loss or damage anywhere in the world for 120 days from the date of purchase when the full cost of the item is charged to your Capital One credit card.

Concierge Services
One-call assistance with arrangements for travel, entertainment, business and shopping. Any costs incurred in connection with these services are charged to your Capital One credit card.

MasterCard Benefits

Master Global Services
Provides emergency card replacement, emergency cash advance, 24/7 telephone access and referral to the closest ABM.

$0 Fraud Liability
If your card is lost or stolen and used without your authorization, you’re protected with $0 Fraud Liability. That means you won’t pay for any unauthorized purchases on your card.

Master RoadAssist® Service
This service provides pre-negotiated rates for 24-hour emergency road service, for travel 80 km or more away from your home including towing, gas delivery and minor mechanical aid. The roadside service expenses are billed directly to your Capital One credit card.

brunes has added it to his premium travel cc comparison chart and thread.

[jerryhung]

was gonna post this and you beat me to it

Here is the Globe & Mail article
"Before you book, check out this new travel rewards credit card "

http://www.theglobeandmail.com/globe...rticle1587236/

I might sign up for the FREE supplementary card, despite the non-waivable $120 fee

[coleworld]

Looks like a good card.

After 1 year, (once you spend $7500), you'll be at $600 in credits for $240 in annual fees.

Looks like you can book anywhere and then get credit back on your account, like the TD travel...

[JWL]

I might sign up for the FREE supplementary card, despite the non-waivable $120 fee

Good luck with that.

[Ethan15]

Sounds like a really good car. You have to spend $6000 annually to break even with the $120 annual fee. Sounds like a deal

However this is where it gets interesting... you need to spend $25,000 on this card annually to actually yield 1.52%. If you're not that big of a spender then it might be worthed to just get the MBNA SmartCash (assuming 1.5% weighted return) and insurance is not a priority...

[Daw]

Sounds like a really good car. You have to spend $6000 annually to break even with the $120 annual fee. Sounds like a deal

However this is where it gets interesting... you need to spend $25,000 on this card annually to actually yield 1.52%. If you're not that big of a spender then it might be worthed to just get the MBNA SmartCash (assuming 1.5% weighted return) and insurance is not a priority...

As the annual renewal bonuses are 10,000 points (=$100), can I consider the annual fee is virtually $120-$100=$20?

[JWL]

Sounds like a really good car. You have to spend $6000 annually to break even with the $120 annual fee. Sounds like a deal

As the annual renewal bonuses are 10,000 points (=$100), can I consider the annual fee is virtually $120-$100=$20?

With the annual renewal bonus the break even point is $1000 (2% on $1000 = $20).

So it is VERY close to fee-free.

[coleworld]

Sounds like a really good car. You have to spend $6000 annually to break even with the $120 annual fee. Sounds like a deal

However this is where it gets interesting... you need to spend $25,000 on this card annually to actually yield 1.52%. If you're not that big of a spender then it might be worthed to just get the MBNA SmartCash (assuming 1.5% weighted return) and insurance is not a priority...

Not sure I am getting your math...

When you spend 25k to earn 50k pts + 10k bonus pts = $600 in travel minus the $120 fee = $480

480 / 25000 = 1.92%


Also remember that, you can only use points in blocks of 15,000 ($150), 35,000 ($350) or 60,000 ($600) +

So you need to spend $2500/year, Pay the $120 annual fee, get the 10k bonus, and your up $30...

[pogorelichfan]

Not heard good things at all about capital one. Their customer service reps I spoke with were all from the US and didn't know the Canadian clientele. I've also heard about Capital One Canada suddenly reducing rates on high limit cards with no notice to customers - I can't help thinking that one is best to stay with a Canadian bank for such things.

[evoviii]

Hmm...this looks very interesting as it's cheaper version of the Avion

Wanted a non Amex travel card as it's annoying to have it not accepted

[whodaphucru]

Hmm...this looks very interesting as it's cheaper version of the Avion

Wanted a non Amex travel card as it's annoying to have it not accepted

Correct me if I am wrong but for Avion I think you need to use their travel agent to book the flights/ travel to use the points which eliminates some of the best deals out there. This one is pretty cool since you can buy your travel from any source (agent, online website, directly from an airline, hotel, whatever) and then use your points to pay for it.

[evoviii]

Correct me if I am wrong but for Avion I think you need to use their travel agent to book the flights/ travel to use the points which eliminates some of the best deals out there. This one is pretty cool since you can buy your travel from any source (agent, online website, directly from an airline, hotel, whatever) and then use your points to pay for it.

Good point, I didn't realize it then it's closer to TD's. Either way, the more I read about it the more it seems better provided then don't change how they operate and the renewal bonus.

[halflife150]

Considering the platinum version is probably one of, if not the best, travel card to have, this version with extra benefits makes this the travel card to have.

[mackersdixon]

Not sure I am getting your math...

When you spend 25k to earn 50k pts + 10k bonus pts = $600 in travel minus the $120 fee = $480

480 / 25000 = 1.92%


Also remember that, you can only use points in blocks of 15,000 ($150), 35,000 ($350) or 60,000 ($600) +

So you need to spend $2500/year, Pay the $120 annual fee, get the 10k bonus, and your up $30...

Question - if you find a flight for argument's sake that costs $160, do you redeem 15,000 points and pay $10, or are you forced to redeem 35,000 points for the $160 flight, as you have just passed the threshold in the next tier of point redemptions?

[JWL]

This card is officially available now. Link added to OP.