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Capital One just launched a new Capital One Entertainment portal—in which you can redeem your points for event tickets. And Capital One will now issue MLB credit cards—which were previously issued by Bank of America. Here's a look at the news and also whether using your points for tickets is a good deal.
Capital One Entrainment Portal
Capital One has launched Capital One Entertainment, which you can access here. You must be logged into your Capital One account to view events or purchase tickets. Within the portal, you can redeem your Capital One Miles for tickets to sports events, concerts, local happenings, and more.
Is it worth it? Here's a look at some events I checked.
Opening Day Baseball Game
I checked opening day tickets for a home game at the Los Angeles Angels of Anaheim. The cheapest option for a ticket is $28 in the Capital One portal. You can redeem 3,500 Miles for this ticket. That's a redemption rate of 0.8¢. Considering that AwardWallet users get an average value of 3.15¢ per Capital One Mile, this rate is pretty low.
But it gets even worse.
The most expensive redemption option is 376,000 miles. Cash tickets in that same section are $45. This is a redemption value of 0.012¢ per mile. That's…really bad.
Same-Day Concert Tickets
While logged into the Capital One Entertainment portal, I saw that tickets for the Go-Gos are available for a concert tonight. What do same-day redemptions look like, in terms of pricing?
Redemption values are consistently 0.8¢ per mile here. That holds true for the cheapest tickets and the most expensive.
Thoughts on Capital One Entertainment
Luckily, the portal allows you to search by locations and dates, rather than just the events listed when you log in. This can help you find events in other cities you're traveling to in the future. Event categories include Cardholder Exclusives, Sports, Music, and Comedy & Theater.
Capital One Will Issue MLB Credit Cards
Those with Major League Baseball credit cards should take note that Bank of America will no longer issue these cards. Bank of America sent notifications to existing cardholders earlier this year to advise them of the changes. These cards will be converted to other credit cards, as the partnership between Bank of America and MLB is ending after 18 years.
The Sports Business Journal reports that Capital One will issue the MLB co-brand cards going forward. The new deal (and its details) will be unveiled after the MLB collective bargaining agreement is finished. There is no date on that yet.
You can read the press release from Capital One here, which alludes to benefits they hope to roll out in the future.
Bottom Line
Bank of America will no longer issue the MLB credit cards. Capital One will take over on these, and there is also a new entertainment portal where you can use your miles to buy tickets to numerous events. However, the rates are not very good when compared to those using Capital One transfer partners for travel redemptions.
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