So you will receive 40,000 miles after spending $3,000 within 3 months of new account opening, and the $59 annual fee is waived for the first year. Capital One miles are worth exactly 1 cent a piece in travel and can't be transferred to frequent traveler points/miles. Also keep in mind that unlike other credit card issuers, Capital One pulls all three credit reporting agencies when you open a new account.
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