Capital One announced early this morning that they've hit the one billion mile mark and have brought the Capital One Venture card "Match My Miles" program to a close. Originally slated to run through May 13th, the offer was obviously popular as it took less than a month to match all the free miles they were willing to give away. At a cost to Capital One of $.01 per mile, that's a mere $10 million, not including whatever they paid Alec Baldwin to have his face plastered all over your TV throughout March Madness.  

Based upon the incredible popularity of the card, it sounds like it was money well spent.

Are you worried because you just applied and got approved for a card yesterday?  If so, don't fret about getting stiffed on your miles.  You'll still have 45 days from when you opened your account to submit your miles and qualify for the match.  While the one billion miles are gone, Capital One has said they will continue to honor submissions and actually match well above the billion mile threshold. And if your miles were already submitted and your match was reserved, you'll still have the rest of your 90-day window to spend $1,000 and get the full 100,000 mile match plus your 10,000 mile bonus.

The promotion may be over, but the fact still remains that this is a great airline rewards credit card.  The Match Your Miles program just made it an amazing, too-good-to-be-true, maybe never-to-be-seen-again, type of a credit card offer. Read my Capital One Venture Card review if you don't understand why.