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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 Venture miles!
You can use Capital One Venture miles for nearly any travel purchase, like airfare, Lyft, car rentals, room service, and much more! And they are extremely easy to redeem.
I’ll give you step-by-step instructions for how to redeem Venture miles!
How to Use Capital One Miles
At their core, Capital One Venture miles are NOT “miles” at all. They are points 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 Venture miles!
Step 1. 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.
Step 2. Click “Redeem Travel Purchases”
There are a few different ways you can redeem Venture 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 points. Or you can just make travel purchases using your card, and then erase those purchases later. To do this, click “Redeem Travel Purchases.”
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.
Step 3. Choose the Purchases You Want to Erase
As long as a transaction codes as a travel purchase, you can erase it with Venture miles. For example, you can redeem Venture 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 Venture 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 Venture miles.
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 Venture miles for. Just click “Redeem” to begin the process.
Step 4. Choose How Many Points 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.
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).
Step 5. Redeem Your Points
After you’ve decided how many miles you want to use, click “Redeem.”
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.
You should receive the statement credit by the next day. And the redeemed miles will show up on your transaction history as “CREDIT-TRAVEL REWARD.”
Earn More Venture Miles
You can earn lots of Venture miles by signing-up for Capital One credit cards!
The Capital One Venture comes with 50,000 Venture miles after you spend $3,000 on purchases within 3 months of account opening. You’ll also earn 2 Venture miles per $1 on all purchases! The card comes with a $95 annual fee, waived the first year.
The Capital One VentureOne comes with 20,000 Venture miles after you spend $1,000 on purchases within 3 months of account opening. The card only earns 1.25 Venture miles per $1. But there is NO annual fee.
To be approved for either of these cards, Capital One says you’ll need “excellent credit.” They describe excellent credit to be anyone who has:
- 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+
Should You Apply?
If you’re a miles & points beginner, and plan to apply for lots of cards later, these are NOT 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. Venture 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 5+ cards in the past 24 months (NOT counting Chase business cards and these other business cards), Chase will NOT approve you for many of their cards (though there are some exceptions).
However, if you already have all the Chase cards you want or you’re happy with Venture’s straight-forward program, these cards are definitely worth a look!
You can use Capital One miles for a wide range of travel purchases, like Airbnb stays, hotels, flights, and more. And they’re easy to redeem!
Venture 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 Venture miles.
Remember, these are NOT good cards to apply for if you’re just beginning in miles & points. Because there are other better travel rewards cards to consider first.
Are Capital One miles worth the convenience? Or would you rather collect other miles & points to get a better value?
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