MCLEAN, Va., May 12, 2010 (BUSINESS WIRE) --Capital One Financial Corporation (NYSE:COF) today announced the launch of VentureSM for Business (http://www.capitalone.com/smallbusiness/lp/venture), a premium rewards credit card offering small business owners double miles on every purchase, the opportunity to earn up to 15,000 bonus miles within the first three months and a flexible redemption process that eliminates the restrictions commonly found in rewards programs. With Capital One's Venture for Business card, there are no limits on when, where or how you earn double miles, no retailer specifications or spending categories, no separate rewards enrollment or re-enrollment requirements, and no limit on the number of miles cardholders can accumulate. Rewards can be redeemed for almost anything including travel, cash back, gift cards, merchandise or charitable donations. And with the Venture for Business card, as with all other Capital One cards, there are no foreign transaction fees.

"Small Business owners are the backbone of our economy and we are committed to helping them succeed," said Jimmy Lee, head of Capital One's National Small Business Lending division. "The Venture for Business card is custom-made to address the unique needs of small business owners who are continually forced to do more with less."

The Venture for Business Card also enables cardholders to earn a one-time 5,000 mile bonus when they activate an employee card within the first 60 days of becoming a cardholder. Small business owners earn miles on all purchases made on the employee cards.

What's more, cardholders enjoy maximum flexibility when redeeming rewards. Small business owners simply make their purchases using their Capital One Venture for Business Card, then call Capital One or go online to reimburse the charge with miles. The cost of the transaction is refunded on the next statement. When redeeming for travel, a simple formula makes it easy to determine how many miles are needed: cardholders multiply the cost of the purchase by 100 (just add two zeros to the cost).

"We are building a market-leading rewards program and are proud to unveil our flagship product, Venture," added Lee. "Venture for Business helps small business owners get more mileage out of their spending, while giving them hassle-free access to their rewards."

Features of the Venture for Business Card include:

• Earn 2 miles per dollar on all net purchases, every day
• Rewards don't expire; no limit on how many miles you can accumulate; no special spending categories; no separate rewards enrollment requirements
• Get 5,000 bonus miles when you sign up for employee cards within the first 60 days
• Get 10,000 bonus miles when you spend $1,000 on the card in the first three months
• Fly free on any airline, any time, with no blackout dates
• Redeem for travel (air fare, hotel room, rental car, etc.) cash back, gift cards, merchandise or charitable donations
• Simple redemption process: multiply the travel purchase by 100 (simply add two zeros to the cost) and trade in that number of miles to pay for it
• No foreign transaction fees
• Exclusive customer service

The Venture for Business card follows the recent launch of Capital One's Venture card for consumers, which was cited as one of the best rewards cards in the May 2010 issue of Money Magazine.

For more information about the new Venture for Business card, or any of Capital One's small business products, visit http://www.capitalone.com/smallbusiness/lp/venture.

About Capital One Small Business

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A. and Capital One Bank (USA), N. A., had $117.8 billion in deposits and $200.7 billion in total managed assets outstanding as of March 31, 2010. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Capital One, N.A. has approximately 1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia, and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.

Capital One Small Business offers a range of products and services to meet small business needs, including small business credit cards, business money markets and payroll services on a national basis, in addition to loans and lines of credit; business checking, money market and savings accounts; and payroll and merchant services offered in our branches. Capital One has a team of bankers committed to deepening our relationships with small business owners and helping them achieve their financial goals.

SOURCE: Capital One Financial Corporation

Capital One Financial Corporation
Pam Girardo, 703-720-2351
pam.girardo@capitalone.com