Update: This offer has expired as of 1/31/21.
Today Capital One announced a new temporary bonus category starting tomorrow on the Capital One® Venture® Rewards Credit Card and Capital One® VentureOne® Rewards Credit Card, Capital One® Savor® Cash Rewards Credit Card, and Capital One® Savor One® Cash Rewards Credit Card cards: 5x on UberEats for Venture and Venture One cardholders and 5% cash back for Savor and Savor One cardholders through January 31, 2021.
Capital One notes that purchases paid for with third party payment accounts, such as PayPal, mobile or wireless card readers, mobile or digital wallets, such as Apple Pay and Android Pay, or similar technology, are not qualifying purchases and will not earn enhanced rewards.
Overall, this is a nice little enhancement, though with all the other cards offering enhanced rewards for restaurants and takeout/delivery, this isn’t a huge deal to me. Of course, that’s at least partially because I don’t have UberEats in my area. The key difference between these offers and other cards offering temporary bonuses is that Capital One is not capping the rewards and is extending the enhanced payouts through the end of January.
Keep in mind also that Venture and Venture One cardholders also have the ability to redeem points against eligible restaurant delivery, takeout, and streaming services — so you can essentially double dip by earning 5x and then using points at a value of $0.01 each to offset those same purchases.