What it earns
| Category | Rate | Value per $ | Notes |
|---|---|---|---|
| Portal travel | 5% | 5¢ | flights, hotels and car hire |
| Dining | 3% | 3¢ | — |
| Groceries | 3% | 3¢ | — |
| Streaming Services | 3% | 3¢ | — |
| Everything else | 1% | 1¢ | — |
| Flights | 1% | 1¢ | — |
| Gas | 1% | 1¢ | — |
| Home Improvement | 1% | 1¢ | — |
| Hotels | 1% | 1¢ | — |
| Insurance | 1% | 1¢ | — |
| Media & Advertising | 1% | 1¢ | — |
| Medical & Pharmacy | 1% | 1¢ | — |
| Office Supplies | 1% | 1¢ | — |
| Rent | 1% | 1¢ | — |
| Shipping & Postage | 1% | 1¢ | — |
| Software & Cloud | 1% | 1¢ | — |
| Transit | 1% | 1¢ | — |
| Wireless & Telephone | 1% | 1¢ | — |
Cents-per-dollar figures use our standard point valuations, not transfer-partner rates. Transferring to an airline or hotel partner at the right moment can beat these numbers; routine redemptions generally will not. We publish the conservative figure on purpose.
What the fee has to earn back
This card charges $39 a year. Its best rate is 5¢ per dollar on Portal travel, against 1¢ on everything else — an edge of 4¢ per dollar.
So the fee is covered at roughly $975 of portal travel spending a year, before any statement credits.
That is arithmetic on the published rates above, and it assumes the spending is real rather than moved around to chase the category. Statement credits can change the answer sharply in either direction — a credit you never use is not a discount. Whether your spending clears this is what the audit measures.
Notes
Also 3% entertainment & streaming
Rates can change without notice; confirm with Capital One before applying.
Disclosure. No referral link is attached to this card — nobody is paid if you apply for it. The rates above are read from Capital One’s own published page, and the audit ranks cards on published rates and your own spending, and never reads which cards carry a referral link. This page carries no application link.