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Capital One miles review: Start traveling now with the simplest rewards program around

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Capital One miles review: Start traveling now with the simplest rewards program around

Joseph HostetlerCapital One miles review: Start traveling now with the simplest rewards program aroundMillion Mile Secrets Team

Signing up for credit cards through partner links earns us a commission. Terms apply to the offers listed on this page. Here’s our full Advertising Policy.

If you’re tired of worrying about blackout dates, available hotel award nights, airline award zones, and other complicated aspects of the miles & points hobby, you might want to collect Capital One miles!

You can use Capital One miles for nearly any travel purchase, like airfare, Lyft, car rentals, room service, and much more. They are extremely easy to redeem and great for beginners.

Use Capital One miles to stay at an amazing Airbnb or boutique hotel, like this one in Bali. (Photo by Inspired By Maps/Shutterstock)

I’ll give you step-by-step instructions for how to redeem Capital One miles.

How to use Capital One miles to erase travel purchases

At their core, Capital One miles aren’t “miles” at all. They are miles worth a flat 1 cent each that you can redeem towards any travel purchase, like airfare, hotels, tolls, and Uber. They’re handy because you don’t have to think about searching for available airline award seats or hotel award nights.

To redeem your miles for travel, just buy travel like you normally would with your card. Then, you have 90 days to sign into your online account, find the travel purchase, and “erase” it with your miles. I’ll show you how to use Capital One miles with the “Purchase Eraser.”

Log-in to your Capital One account and click “Rewards”

You’ll see the number of miles you have next to your card.  Click that number to begin redeeming your miles.

How To Use Capital One Venture Miles

Click “Redeem Travel Purchases”

There are a few different ways you can redeem Capital One miles, but you’ll get the best value by using them for travel. For example, you can redeem for gift cards or a statement credit at 0.5 cents per point (a terrible value!). But you’ll get a value of 1 cent per point towards travel.

You can book travel through the No Hassle Rewards portal using miles. Or you can just make travel purchases using your card, and then erase those purchases later. To do this, click “Redeem Travel Purchases.

How To Use Capital One Venture Miles

Note: Whether you choose to redeem your points through the No Hassle Rewards portal or by erasing your purchase later, you’ll still get a value of 1 cent per point. However, erasing your purchase later means you’ll EARN points for your purchase.

Choose the purchases you want to erase

As long as a transaction codes as a travel purchase, you can erase it with Capital One miles.  For example, you can redeem Capital One miles towards purchases with travel companies like airlines, hotels, rental cars, and even tolls.  But you can NOT erase purchases you make at the grocery store, for example.

Sometimes it can be difficult to know for sure if something will code as a travel purchase.  Team member Joseph used Capital One miles for Afternoon tea at a restaurant in the Burj Al Arab hotel.  The transaction coded as a hotel purchase because the restaurant was inside a hotel.  So he was able to erase the purchase with Capital One miles.

How To Use Capital One Venture Miles
Afternoon tea at the top of the Burj Al Arab was seven courses and cost ~$160 per person. (Photo by Joseph Hostetler/Million Mile Secrets)

But, he tried the same thing at a restaurant in the Drake Hotel in Chicago, and the transaction coded as a regular restaurant purchase.  So he could NOT erase it with miles.

Capital One will give you a list of the travel purchases you can redeem Capital One miles for.  Just click “Redeem” to begin the process.

How To Use Capital One Venture Miles

Choose how many miles to redeem

You can choose whether you want to use miles to completely erase a purchase, or if you want to use a combination of cash and miles.  Select “Edit Miles Using” before you confirm your redemption.

How To Use Capital One Venture Miles

There is no minimum redemption amount when redeeming miles, unless you’re using miles to partially pay for a travel purchase. In that case, the minimum is 2,500 miles ($25).

Redeem your miles

After you’ve decided how many miles you want to use, click “Redeem.

How To Use Capital One Venture Miles

That’s it! You should then see a confirmation number and a message below the transaction telling you that you’ve successfully redeemed miles. You’ll also get an email confirmation.

How To Use Capital One Venture Miles

You’ll usually receive the statement credit by the next day. And the redeemed miles will show up on your transaction history as “CREDIT-TRAVEL REWARD.

How To Use Capital One Venture Miles

Transfer to travel partners

If you so choose, you can transfer your miles to Capital One transfer partners and potentially squeeze more than the standard Capital One miles value of 1 cent per mile from your rewards. If you know what you’re doing, this could be the best way to use Capital One miles. Here are all of Capital One’s transfer partners:

  • Aeromexico
  • Air Canada (Aeroplan)
  • Air France & KLM (Flying Blue)
  • Alitalia
  • Avianca
  • Cathay Pacific
  • Emirates
  • Etihad
  • EVA Air
  • Finnair
  • Hainan Airlines
  • JetBlue
  • Qantas
  • Qatar Airways
  • Singapore Airlines
  • Accor Hotels
  • Wyndham

For example, you can transfer Capital One miles to Qantas at a ratio of 1.5:1. By transferring 22,000 Capital One miles to Qantas, you can book a round-trip short-haul flight on American Airlines (16,000 Qantas miles).

Earn More Capital One miles

If you want to earn Capital One miles quickly, sign-up for Capital One credit cards.

  • Never declared bankruptcy or defaulted on a loan
  • Has not been more than 60 days late on a loan in the past year
  • Has had a loan or credit card for 3+ years with a credit limit of $5,000+

You can also earn bonus miles with some of the best Capital One credit cards when booking your travel via Capital One’s proprietary online travel agency. You’ll earn 5 Capital One miles per dollar you spend on hotels and car rental bookings by using your card and booking through Capital One Travel℠.

Should you apply?

If you’re a miles & points beginner, and plan to apply for lots of cards later, these aren’t good cards for you. There are other credit cards with much better sign-up bonuses that earn more valuable points and have better travel benefits. Capital One miles are usually not worth as much as airline miles or hotel points.

Opening these Capital One cards could decrease your chances of being approved for great Chase cards later on. That’s because if you’ve opened five or more cards in the past 24 months (not counting Chase business cards and other business cards), Chase won’t approve you for many of their cards. This is called the Chase 5/24 rule.

However, if you already have all the Chase cards you want or you’re happy with Capital One’s straightforward program, these cards are definitely worth a look.

Bottom line

You can use Capital One miles for a wide range of travel purchases, like Airbnb stays, hotels, flights, and more. And they’re super easy to redeem.

Capital One miles are usually not worth as much as airline miles or hotel points, but they’re also generally easier to use. If you don’t want to deal with available hotel award nights, airline blackout dates, and award charts, you might be interested in collecting Capital One miles.

Are Capital One miles worth the convenience — Or would you rather collect other miles & points to get a better value?

You can subscribe to our newsletter for more in-depth posts for how to use your miles and points for free travel.

Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn on travel.

More Info

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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I want to fly southwest. Is there any way I can use my points?

same Q — and if I buy a southwest gift card, will it code as travel so I can redeem w/points?

Drivesabrowntruck

Someone enlighten me on why this would be better than a straight 2% cash back card with no AF?

Million Mile Secrets

The Capital One Venture has benefits that certain 2% cash back cards don’t have, but JoePro is right in that the sign-up bonus is definitely the biggest draw to this card. You won’t find a 2% cash back credit card with a $400 welcome offer!

In general, IMO it probably wouldn’t. With the sign-up bonus it might be worth signing up, meeting the requirements, then shelving. Assuming of course you’ve exhausted the sign-up bonuses on the 50+ better options 😉

Thanks for the good info on this card.

I notice it states in the terms that you can never have declared bankruptcy.
Is this a requirement for all premium cards? Or what is the general rule?

Million Mile Secrets

Thanks everyone for sharing your knowledge 🙂

Once a bankruptcy falls off your credit report, typically within 10 years, it does not prevent you from getting any credit cards. If you are within that 10 years, then you can try to get cards that are designed to help build credit and require a lower credit score. That way, when the bankruptcy falls off your report, you will have been building your credit in the meantime.

If the bankruptcy was more than 7 years ago (10 years for Chapter 7), it should be removed from your credit report, so that shouldn’t be an issue.

For one, I’d hardly call any Capitol One card “premium”. Frankly these cards fall far down the line for rewards enthusiasts.
But more importantly, I’d say the general rule is that if you’ve declared bankruptcy, you should really really really really really reconsider getting a credit card at all. Sure, people have the ability to change, and maybe there are some unique circumstances that push some towards bankruptcy. But in general if you’ve gotten yourself into a financial mess in the past, you’re asking for trouble by getting a credit card.
I’m also inclined to believe…. and maybe I’m way off base… but it seems to me that Capitol One cards are more likely to be picked up by people who are more interested in having and using credit than people who want free/premium travel options.

“… if you’ve gotten yourself into a financial mess in the past, you’re asking for trouble by getting a credit card.”

To be fair, many people are forced into bankruptcy by situations such as injuries/health issues, family emergencies, divorce, disasters such as hurricanes/tornadoes/etc. They aren’t necessarily careless with money or credit — just unlucky 🙁

Is true about not necessarily being careless with money.

My stance on credit cards is that they’re only good for the rewards, when I see someone looking at Cards that don’t really advance that goal, combined with asking about approval with a past bankruptcy, it’s a red flag to me.

*Capital One