Capital One is partnering with Turo to offer extra rewards for car sharing.
Capital One Venture offering 5-10x miles with Turo
Capital One and Turo have just launched a new partnership:
- The Capital One Venture X Credit Card (review) now offers 10x Venture miles for Turo spending
- The Capital One Venture Rewards Credit Card (review) now offers 5x Venture miles for Turo spending
This is a limited time partnership that’s valid for one year, between May 17, 2022, and May 16, 2023. Presumably this has the potential to be extended.
Personally I value Capital One miles at 1.7 cents each, so to me that’s like an 8.5-17% return on Turo spending, which is excellent. There aren’t any other credit cards that offer bonus points specifically with a car sharing platform like Turo, though Turo purchases do often code under the generic “travel” category. That means that cards like the Chase Sapphire Reserve® Card (review) earn 3x points on these purchases (which is still a far cry from 5-10x points).
We’re increasingly seeing credit cards offer limited time partnerships. In many situations this can be a win-win — credit card issuers can offer more points to cardmembers, while other brands get access to a lucrative customer base.
What is Turo, anyway?
For those not familiar with Turo, it’s a peer-to-peer car sharing marketplace, so it’s a popular alternative to rental cars. To put it differently, Turo is to rental cars as Uber is to taxis.
On the surface Turo is a great concept, since the rental car industry has historically been quite frustrating (though frankly National Emerald Aisle and Hertz President’s Circle have made me dislike renting cars a lot less).
I’ve never used Turo, though back in 2017 Ford wrote about his terrible experience with Turo. Turo seems to be great when things go well, but when things don’t go well, you may find an unhelpful car owner and terrible customer service from Turo, with little recourse.
Capital One has a new partnership with Turo, offering 5-10x Venture miles on spending with Turo through May 2023. For those who rent from Turo frequently, this could be a pretty significant source of earning rewards, since no other credit card has a partnership with Turo.
Will you benefit from this Capital One & Turo partnership?