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Capital One Joins ClickRewards Shopping Network

Capital One Financial Corp. and Netcentives Inc. said that Capital One Bank and Capital One F.S.B., have joined the ClickRewards Shopping Network.

Under the agreement, Capital One will reward customers with up to 50,000 ClickMiles when they invest in a Capital One Certificate of Deposit.

ClickMiles are redeemable 1 to 1 for frequent flyer miles from nine airlines, as well as for other premium goods and services.

"Capital One's deposit customers already earn among the best rates in the nation with our high-yield, FDIC-insured deposit products. Now, ClickRewards' member base of more than 2 million can benefit by earning miles for free travel and other valuable products with their investment," said David M. Willey, Capital One's senior vice president for corporate financial management.

Netcentives offers promotion and direct marketing programs, including the ClickRewards Shopping Network, Custom Loyalty Networks for companies with major brands and portals and ClickRewards@Work, a corporate incentives solution.

Capital One's subsidiaries collectively had 20.8 million customers and $18.5 billion in managed loans outstanding as of Sept 30, 1999.