A Guide to Capital One Miles
If you've been racking up a glut of Capital One Miles, you might be mulling over how to make the most of them. The beauty of Capital One Miles is that you can redeem them for both travel and non-travel options. Here, we'll walk you through how to earn and use Capital One Miles.
Capital One Miles at a Glance
Capital One Miles can be earned through Capital One's travel credit cards
Miles can be used to redeem for travel and non-travel purchases, such as cash back, statement credit, gift cards, and online shopping.
Pairing your Capital One Miles card with a solid cash-back card can help you optimize points-earning potential.
What Are Capital One Miles?
Capital One Miles are the points you earn in a Capital One credit card rewards program. These are typically available through an eligible Capital One travel credit card, which include these cards in the Capital One family:
Venture X Rewards
Venture Rewards
Venture Rewards for Good Credit
VentureOne Rewards
Through the program, you'll be able to rack up points through qualifying purchases, and the Capital One Miles value baseline is typically 1 cent per mile. However, depending on the specific rewards structure of a particular card, you'll find ways to earn multipliers on points and rack in miles more speedily.
Redemption Options
Book travel: You can book a flight, hotel or rental car through the Capital One Travel portal.
Cover past travel purchases: You can erase recent eligible travel purchases from the last 90 days.
Redeem for gift cards: You can cash in your miles for digital or physical gift cards from over 90 participating retailers.
Shop online: Your Capital One Miles can be used to do a bit of online shopping at Amazon or PayPal.
Redeem for entertainment and food experiences: Through Capital One Entertainment, you can swap your points for sports events, culinary experiences, concerts, and other events.
Get cash back: When you redeem your miles for cash back, you'll get that money returned in the form of a statement credit or a check.
Top Partners
JetBlue: You'll receive a 5:3 transfer ratio when you move your points to JetBlue. So 1,000 JetBlue points equates to 600 TrueBlue points.
EVA Air: This is a 2:1.5 ratio. So for 1,000 EVA Air points, you get 750 Infinity MilageLand Miles.
Airline travel partners: Capital One Travel also partners with 14 other airline partners, and there's a 1:1 ratio.
Choice Privileges: One of three Capital One hotel transfer partners, you can scoop up a 1:1 ratio. So for every 1,000 points, you can transfer 1,000 miles.
Wyndham Rewards: When you book accommodations through Wyndham Rewards, you also enjoy a 1:1 transfer ratio.
How to Earn Capital One Miles
Unlimited Miles
Each credit card has a different point value for unlimited purchases. Some cards have the standard baseline 1 miles per dollar on a credit card, while others have a 1.25 miles for every dollar spent, and double miles per every dollar you put on your card.
For example:
Venture X: Unlimited double miles per dollar on each purchase.
Venture: Unlimited double miles per dollar on each purchase.
VentureOne: Unlimited 1.25 miles per dollar on each purchase.
If you plan on using your card for the bulk of your purchases or for everyday spending, you'll want to look for a card in the Capital One travel family, a card with unlimited double miles can be a solid choice for you.
More Points When Booking Travel
Depending on the credit card, you might be able to earn 5x or 10x when you spend on travel through the Capital One Travel portal. This could be 10x miles per dollar on, say, hotels and rental cars, or 5x miles on hotels. Each card has a different reward structure.
Introductory Bonus Points
There are some robust and lucrative introductory miles bonuses for Capital One credit cards. An example of this is earning 20,000 miles if you spend $500 within the first three months of opening your account, or 75,000 miles if you spend $4,000 within the first three months.
These bonuses can change, so you'll want to keep an eye out for new promotions. Plus, you'll want to time your purchases so you can easily meet the spending thresholds to earn the bonus. For example, you can potentially pay taxes, or use your card for a large-ticket expense or home renovation.
Spending on Travel
Whether on a vacation, work retreat or business trip, putting your card to use when you travel can be a simple way to earn miles. Since the Capital One travel cards typically come with a handful of travel perks and no foreign transaction fees, you can earn miles while making the most of the benefits.
How to Use Capital One Miles
Understand the Restrictions
Once you transfer Capital One Miles to a travel partner, you can't move points back to your Capital One account. Plus, once you close your account, you'll likely lose any unused miles. If you plan on transferring points or closing your card, see about making sure you've used up your points or have moved them to travel partners.
Take Advantage of Travel Partners
When it comes to redemption options, taking advantage of transfer partners is probably your best bet for getting the highest number of value per point for redeeming statement credits, explains Daniel E. Milks, CFP® at Woodmark Advisors.
As mentioned, some travel partners mean a greater spend for the same number of points. This depends on the partner and the redemption value. An example of transferring Capital One rewards for better value would be moving points to a travel partner like Air Canada’s Aeroplan or British Airways Avios, says Milks.
Pair It With a Cash-Back Card
Capital One Miles can be a great way to "earn and burn" on vacations and business trips, and you might optimizing rewards by pairing it with a card that offers high-category bonuses in say, groceries or dinging, say, flat cash-back rewards cards, says Milks, who is a Capital One Quicksilver card holder.
Make the Most of Card Perks
As these are usually travel cards, make the most of any perks that could be money savers. For example, airport lounge access, credit for TSA Precheck or Global Entry, car rental insurance, no foreign exchange fees, experience or hotel credits, or bonus travel credit received during your anniversary month. There also might be purchase protections and price guarantees.
If you're shopping around for a Capital One card with miles, or are an existing cardholder, comb through the terms and conditions of the card to learn about the perks. Then give it some good thought to make sure the perks are valuable in that they're a good fit for your needs.
Frequently Asked Questions
How Much Are Capital One Miles Worth?
Capital One Miles can be worth anywhere from 0.5 to 1.2 cents each. This depends on how they're being redeemed. Generally, gift card redemptions or cash back generally have lower redemption rates, while travel usually has higher redemption rates.
Do Capital One Miles Expire?
There's no expiration date on Capital One Miles as long as the account is open and in good standing.
How Much Is 50,000 Capital One Miles Worth?
50,000 Capital One Miles are worth anywhere between $500 to $1,250. This depends on how the miles will be redeemed.
