I don't have points with Capital One but wonder how this stacks up in value against the recent Amex transfer bonus. If its similar perhaps I'd consider opening a card.
It brings the Cap1 earning ratio up to a solid 2 points per dollar vs. the usual 1.5. If you already have the BBP and don't max out on the $50K cap, nothing to write home about.
If you're like me and most general spend is non-USD - it's fantastic.