Capital One® Rewards/Miles is one of the most straightforward credit card rewards program out there. There rewards are called “miles”, however they act like points that you can use for statement credit toward travel purchases, airline miles, and more. Although there aren’t a lot of ways to earn Capital One rewards, their value is rather high.
Continue reading for a complete guide to Capital One Rewards/Miles and how to take advantage of transfer programs.
Capital One Rewards Quick Facts
| Personal Credt Cards | Capital One Venture Rewards Credit Card Capital One VentureOne Rewards Credit Card |
| Business Credit Cards | Capital One Spark Miles for Business Capital One Spark Miles Select for Business |
| Redemption Options | Travel purchases via Capital One Travel statement credits Gift cards Cash back Transfers to airline partners |
| Best Value for Miles | $0.014 per mile |
Earning Capital One Miles
There are four cards that earn Capital One miles. Spark cards are catered toward small businesses, while Venture cards are more for personal use. Click on the card name to see the current welcome bonus available for each card:
| Spark Miles | Venture | Spark Miles Select | VentureOne |
| Unlimited 2x miles on all purchases | Unlimited 2x miles on all purchases. | Unlimited 1.5x miles on all purchases | Unlimited 1.25x miles on all purchases |
Redeeming Capital One Miles
Depending on how you use your Capital One miles, the value of them will vary:
| Redeem for… | Value per mile | 50,000 miles value |
| Travel booked via Capital One | $0.01 | $500 |
| Travel statement credits | $0.01 | $500 |
| Gift cards | $0.01 | $500 |
| Cash back | $0.005 | $250 |
| Transfers to airline partners | Up to $0.014 | Up to $700 |
Redeeming for travel statement credits is the easiest option. “Purchase Eraser” allows you to get a flat rate of $0.01 per mile and you don’t have to worry about blackout dates. Do note that only travel spending in the previous 90 days will qualify.
You should avoid using your miles for cash back in the form of account credits or checks by mail. This will devalue your miles by 50%.
In order to get the best value for your miles, you should transfer them to a partner airline and make a strategy for your award travel. If you take the time to research different booking scenarios with different airlines, you will be able to find great value for your Capital One miles.
Capital One Airline/Hotel Partner Programs
| Aeromexico Club Premier | Air France KLM Flying Blue | Air Canada Aeroplan |
| Alitalia MilleMiglia Program | ALL – Accor Live Limitless | Asia Miles |
| Avianca LifeMiles | Emirates Skywards | Etihad Airways – Etihad Guest |
| EVA Air – Infinity MileageLands | Finnair – Finnair Plus | JetBlue TrueBlue |
| Qantas Frequent Flyer | Singapore Airlines KrisFlyer |
Best Capital One Partner Airline/Hotel Loyalty Programs
You are able to transfer your Capital One miles at up to 2:1.5 ratio for most airline/hotel programs as shown above (Emirates, Singapore Airlines and Accor Live Limitless). Here are some good programs to transfer to:
Avianca charges low fees and offers a number of “sweet spots” in its loyalty program. If you’re short on miles, it also lets you purchase discount ones at good rates.
Cathay Pacific Asia Miles offers incredible award opportunities. When you book your Asia Miles award travel, know that:
- You’re allowed one stopover on one-way standard awards (except Air China and Iberia).
- You’re allowed two stopovers and one open jaw on standard awards.
- You’re allowed five stopovers and two open jaws on Oneworld awards.
- You save several hundred dollars in fuel surcharges when you book your British Airways-operated award flight with Asia Miles (instead of Avios or American Airlines).
You might not be familiar with Etihad Guest, but this loyalty program packs a big punch. If you’re looking to book award travel on an American Airlines-operated flight, it’s a better deal through Etihad.
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Conclusion
Every Capital One mile is easily worth $0.01. When you use the Purchase Eraser for your travel expenses, you’ll get one cent per mile every single time.
However if you want a more valuable use for your Capital One miles, you should transfer your rewards to a partner airline loyalty program. Although it is more complicated, you can get up to $0.014 each mile this way.
Furthermore, be sure to check out our best credit card bonuses here.
