How Credit Card Points Buy Me a New M2 iPad Air

Last month, I showed you the power of credit card points and how you could turn a MacBook Pro purchase into a free iPhone in this article. To my surprise, most people enjoyed this post and got some great value from it. The initial post focused on the Chase Ultimate Rewards ecosystem. This time, I want to give you an example of how to redeem a Capital Mile into a brand new M2 iPad Air or even an M2 Mac Mini!

Before we get started, I want to make a quick disclaimer: I do not advocate getting into credit card debt. The only real way to get value from points is to pay off your credit card in full each month. If not, then it's not worth it. Treat your credit card like a debit card: pay it off in full and on time. Secondly, I do think you get the most value out of your points when you redeem them for travel; some people just don't travel that often and look for other ways to maximize their points, which is what this post is for ! Finally, this is not financial advice. Now, let me show you how to maximize your capital mile on Apple products!

How do I use Capital Miles to redeem Apple products?

Capital One's rewards program uses miles as currency, but you can think of them exactly like points. There are two major cards I would recommend to Capital One for opportunities to earn miles. Capital One VenturesX and Risk Rewards. We’re focusing on the Capital One Venture Rewards Card. There are two things to love about this card:

  • Earn 2x miles per $1 spent in any category (will be important later)
  • Sign-up bonus (this is how we get free Apple products!)

Venture Reward's current welcome offer includes earning 75,000 miles after you spend $4,000 in purchases within the first three months of account opening. So what I recommend to people is if you have a big purchase coming up, like a wedding deposit, a new piece of furniture, or a new MacBook, apply for a card like this, put that expense onto a new card, and then you Get your welcome bonus instantly! Again, pay it off in full!

How to use Capital Mile to buy Apple products

The best way to get the most “cash” value is with Capital One's Shop through Amazon feature. Here's how to do this:

  • Log in to your Capital One online account and select Look at the rewards From home page
    • choose from there Shop through Amazon From the options below.
  • Link your accounts
    • You will then be taken to a page where you can link your first Capital account with your Amazon account.

As shown on the screen, it's as simple as linking your accounts and selecting your Capital One miles at checkout (if that's how you made the purchase). It's nice to see that you can use as little or as much mileage as you want. Remember, with this approach, Cash value for 125 miles is only $1.00.

Therefore, spending $400 on an Apple product would require 50,000 miles ($400 x 125 miles).

How do I turn Capital One Miles into an M2 iPad Air?

Now that everything is set up, let me break down how I redeemed my miles for a new iPad Air. Since I signed up for the Capital One Entrepreneurship Rewards Card, I have been able to use it to purchase a large sofa. Instead of just using cash or debit cards and getting nothing, I put my new couch on risk cards. I paid off the card immediately so I didn't have any interest. This got me to my minimum spend of $4000 in less than 3 months.

As an added perk of having this card, I also get 2x rewards for every $1 I spend on any purchase.

75,000 miles (sign-up bonus) + 8,000 miles (4000 x 2, miles earned from the couch) = 83,000 miles

83,000 miles divided by 125 (miles to cash conversion rate) = $664

Again, I would have $664 just by signing up for the card and spending my usual way. Then I bought a new M2 iPad Air for $599!

I want to mention that the Capital One Entrepreneurship Rewards Card has an annual fee of $95, so keep that in mind. But even if you subtract $95 from $664, you can still buy the new M2 Mac mini or anything else from the Amazon Apple Store.

final thoughts

So, again, if you're responsible for your credit cards and can pay them off in full every month, that's essentially a way to get huge positive value out of your spending. Another option is to just use a debit card or cash so you don't get any additional benefits. I personally prefer using miles and points to redeem travel, but I want to show you how you can use your hard-earned points to purchase some great Apple products.

Let me know what you think about this. Are you a miles and points gamer? Is this a new concept to you? Would you use points to purchase Apple products like this? Let’s discuss it in the comments below!

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