Capital One Offers: Just in time for holiday shopping

Capital One soft launched a new card-linked discount program, Capital One Offers, in April. The beta test recently expanded, and I now see several of these deals listed at the top of the page when I log into my Capital One Venture Rewards Credit Card account. While the name suggests similarities to Amex® Offers and Chase Offers, Capital One Offers actually behaves more like an online shopping portal such as Shop Through Chase or Rakuten.

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Using Capital One Offers, I’m currently seeing 15% cash back at eBags.com and 10% at: Macy’s, Columbia, Bloomingdale’s, JCPenney, Groupon, Kiehl’s, J. Crew, Madewell, Saks Fifth Avenue, Vineyard Vines, L.L. Bean, LOFT, Bose, Swanson, Sunglass Hut, Kate Spade, Shopbop, Ray-Ban, Oakley, Moosejaw, Vitacost.com, Talbots, Outdoor Voices, prAna and GoPro.

All of these are online promotions

To find them, log into your Capital One account. Note that only some cardholders are currently eligible. I reached out to Capital One to clarify who’s eligible and haven’t heard back yet. Anecdotally, it appears that a subset of current customers are eligible, and Venture cardholders are more likely to be selected than other Capital One cardholders.

It’s also important to note that I’m only able to see these deals on my computer – not my phone. I see “Earn Credits for Shopping” near the top of my account management screen after logging in on a computer. It’s on top of my recent transactions.

If you see this on your account, I suggest clicking “View All Offers” to expand the section. That’s where all 26 of my aforementioned discounts are listed. If one appeals to you, click “Get Savings” underneath the retailer’s logo and then select “Continue to Merchant.”

Shop normally from there and pay with your eligible Capital One card. The statement credit, which should arrive within three billing cycles, will be in addition to your normal credit card rewards.

See related: Best cards for online shopping

The competition

Unlike Capital One Offers, Amex Offers and Chase Offers can typically be redeemed in-store or online. You log into your account and add a digital coupon to your card (for example, spend $50+ and get $10 back at Advance Auto Parts).

They don’t usually follow the same “click-through” procedure but instead look for an eligible purchase on that card after activating the coupon. One advantage to that approach is that you could potentially combine a shopping portal discount with the card-linked offer (such as an additional 15% cash back if you click through Rakuten and make a purchase at AdvanceAutoParts.com).

The good news is that Capital One Offers are often more generous than competing shopping portals. For instance, CashbackMonitor.com compares dozens of cash back portals (including stand-alone sites and those offered by credit card companies, airlines and hotels), and Capital One’s discounts top the list at several retailers’ websites, including Macy’s, Saks Fifth Avenue, Vineyard Vines, L.L. Bean, LOFT, Bose, Kate Spade and more.

See related: Use Cashback Monitor to maximize shopping rewards

More ways to optimize

As long as this is money you would have spent anyway, you’re coming out ahead. Make sure to stack any additional discounts you can. For example, use Capital One Offers (or another online shopping portal, if you prefer) and combine it with a store coupon code and a rewards credit card. That’s three ways to save on the same purchase. It’s perfect timing because most Americans will do the bulk of their holiday shopping online this year.

Have a question about credit cards? Email me at ted.rossman@creditcards.com and I’d be happy to help.