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Capital One No Hassle Miles: Rack Up Travel Rewards With Every Swipe

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Capital One No Hassle Miles: Rack Up Travel Rewards With Every Swipe

Capital One No Hassle Miles: The basics

No Hassle Miles is the rewards currency earned by certain business and consumer credit cards issued by Capital One. Depending on the card you have, you’ll score 1-2 No Hassle Miles with every dollar you spend.

No Hassle Miles can be used in a variety of ways, and are generally worth between half a cent and one cent apiece. The value hinges on what you redeem them for. Read on to learn about your best options.

Cards that earn No Hassle Miles

Capital One® Venture® Rewards Credit Card

  • Earn 2 miles for every dollar you spend.
  • Enjoy a one-time bonus of 40,000 miles once you spend $3,000 on purchases within the first 3 months, equal to $400 in travel.

Capital One® VentureOne® Rewards Credit Card

  • Earn 1.25 miles for every dollar you spend.
  • Enjoy a one-time bonus of 20,000 miles once you spend $1,000 on purchases within the first 3 months, equal to $200 in travel.

Capital One® Spark® Miles for Business

  • Earn 2 miles for every dollar you spend on business purchases.
  • Earn a one-time bonus of 50,000 miles once you spend $4,500 on purchases within the first 3 months.

Capital One® Spark® Miles Select for Business

  • Earn 1.5 miles for every dollar you spend on business purchases.
  • Earn a one-time bonus of 20,000 miles once you spend $3,000 on purchases within the first 3 months.

Capital One® Spark® Select for Business

  • Earn 1 mile for every dollar you spend on business purchases

Nerd note: All of the earn rates on the plastic listed above are unlimited; there’s no cap on the No Hassle Miles you can rack up with these cards.

How to get more No Hassle Miles

With the exception of the Capital One® Spark® Select for Business, all cards that earn No Hassle Miles provide the opportunity to earn a signup bonus if you meet a minimum spending requirement, so this is an easy way to pad your rewards account. But beyond this, there aren’t any clever methods for getting more miles.

Capital One doesn’t operate a bonus mall that will allow you to earn more rewards on online purchases, and there is no option to buy miles. Consequently, the best way to earn maximum No Hassle Miles is to simply use your card for as many transactions as possible.

How to redeem No Hassle Miles

Good redemption options

The best way to redeem No Hassle Miles is for travel. You can do this in 2 ways: By using Purchase Eraser® to get a statement credit for all or part of a recent travel purchase, or by booking travel with your miles through Capital One’s travel portal. Either way, your miles are worth 1 cent each, which is the highest value achievable.

The travel redemptions are preferable for most consumers because you’ll have a lot of choices in how to use your miles. For example, you can use Purchase Eraser® to get a statement credit for airline tickets, hotel stays, limousine services, car rentals, discount travel sites and more. Just be sure to redeem within 90 days of a travel purchase posting to your account.

There’s no minimum number needed to redeem if you choose to cash in through Capital One’s travel portal. If you use Purchase Eraser® to get a partial statement credit, you’ll need a minimum of 2,500 miles to redeem.

Another good option is using miles to purchase gift cards. This redemption method will get you a value of one cent per mile, too, so if a getaway isn’t achievable, there’s still a way to decent value from your rewards. You’ll need a minimum of 2,500 miles to redeem for a gift card.

Bad redemption options

Besides travel and gift cards, you can also use your No Hassle Miles for cash back (in the form of a check or statement credit for a non-travel purchase) or merchandise. But cash-back redemptions cut the value of mile in half, meaning that miles are worth half a cent each if this is how you choose to use them. You’ll need a minimum of 5,000 miles for a cash-back redemption.

For merchandise, the value of a mile varies depending on what you’re cashing them in for. Based on the Nerds’ calculations (see methodology section below), miles are worth slightly more than a half a cent apiece for most merchandise redemptions; although there’s the potential for a slightly higher value, it’s unlikely you’ll get a full cent per mile.

Other redemption options

There are two other ways to redeem No Hassle Miles: experiences, and donations to charity. “Experiences” are entrance fees to local events or happenings (wine tastings, tandem skydiving and stock car racing are past examples) that you can book and pay for with miles using the No Hassle Rewards site. The value you’ll get per mile with this redemption option varies wildly, and is dependent on the event you choose and the city you live in.

The same goes for charitable donations, so be sure to do a little math before forking over your miles for a good cause. There’s a good chance you’re better off donating cash.

The fine print

There’s not a lot in the fine print of the No Hassle Rewards program that will cause confusion or trip you up. There’s no limit to the miles you can earn, and miles never expire as long as your account is open and in good standing. If you close your account, you’ll lose any unused miles.

Also, if you pay your credit card bill late and are charged a late fee, you won’t earn miles during the billing cycle that the late fee was charged. Carrying a balance won’t affect your ability to earn rewards, as long as you make your minimum payment on time.

Of course, you should make it a priority to pay your bill in full each month. The interest you’ll accrue is likely to cancel out the value of the miles you’ve earned.

Top cards that earn No Hassle Miles

For consumers: Capital One® Venture® Rewards Credit Card

The Capital One® Venture® Rewards Credit Card is a popular travel credit card because it’s easy to use, and earns big rewards with every swipe. You’ll score 2 miles for every dollar you spend, which equates to a rewards rate of 2% if you choose to redeem for travel. This is double the industry standard of 1%, which means you’re getting a generous influx of rewards every time you use the card.

The Capital One® Venture® Rewards Credit Card also offers a generous signup bonus: Enjoy a one-time bonus of 40,000 miles once you spend $3,000 on purchases within the first 3 months, equal to $400 in travel. This could really help offset the cost of your next trip.

This card is also a good choice if you like traveling internationally, because charges no foreign transaction fee, comes chip-enabled.

The Capital One® Venture® Rewards Credit Card charges an annual fee of $0 intro for first year; $59 after that. This is lower than many of its competitors. All in all, you’ll do well to keep this card in your wallet as you make your way around the world.

For business owners: Capital One® Spark® Miles for Business

The Capital One® Spark® Miles for Business is similar to the Capital One® Venture® Rewards Credit Card, but is meant for small business owners who travel frequently. With it, you’ll earn 2 miles for every dollar you spend and pay no foreign transaction fees.

It also comes with a signup bonus: Earn a one-time bonus of 50,000 miles once you spend $4,500 on purchases within the first 3 months. In addition, you’ll get a 5,000-mile bonus if you get at least one employee card within your first 60 days of account opening.

The Capital One® Spark® Miles for Business charges an annual fee of $0 intro for first year; $59 after that. But the Nerds expect that most jet-setting business owners will earn enough in rewards to outweigh this expense.

Methodology

The calculated value of these points is based on an estimated redemption rate, not a credit card rewards earn rate. Therefore, you may notice that these numbers don’t match the rewards rates on our credit card finder tool. Read on for how we estimated these points values.

Capital One states in the terms and conditions of cards that earn No Hassle Miles that one mile is worth one cent for travel purchases. This is done with hypothetical examples, where the points needed for a travel redemption is determined by multiplying the cost of a ticket by 100.

$500 plane ticket X 100 = 50,000 miles needed

$500/50,000 = $.01 (one cent per mile)

For gift cards, the Nerds logged into the No Hassle Rewards portal and ran some tests, where we divided the value of a gift card by the miles needed to get it. For example, a $25 gift card requires 2,500 miles:

$25 / 2,500 = $.01 (one cent per mile)

We used a similar methodology for cash redemptions. For example, a $30.15 non-travel Purchase Eraser® credit requires 6,030 miles:

$30.15 / 6,030 = $.005 (half a cent per mile)

A $50.36 check in the mail or regular statement credit requires 10,072 miles:

$50.36 / 10,072 miles = $.005 (half a cent per mile)

For merchandise, the Nerds compared the miles needed to redeem for particular items to their prices on Amazon.com. For example, a Bulova Marine Star watch has a retail price was $245.12 (as of March 14, 2015) and requires 37,750 miles to purchase.

$245.12/37,750 = $.0065 (.65 cents per point)

Last updated on April 10, 2015

Lindsay Konsko is a staff writer covering credit cards and consumer credit for NerdWallet. Follow her on Twitter @lkonsko and on Google+.

Image via iStock.

  • Kim

    Your comment was very informative. Thank you. I do have one question so I can understand. Prior to getting the Venture card, we had another card that earned us specific airline points. Can I book my travel on that airlines website and use the points I have with them and then the remainder of the cost pay with my Venture card and then turn around and use Purchase Eraser for the credit back?

  • QV

    Unless Capital One allows transferring their points 1:1 to airlines, the most you get is 1 penny per point. This is the worst travel reward credit card to have.

    • http://www.nerdwallet.com/ NerdWallet

      Hi @disqus_FF1F63ygGp:disqus – You’re right that No Hassle Miles can’t be transferred to airline frequent flyer programs – for some travelers, that might be a deal-breaker. But for people looking for a flexible, easy-to-use travel rewards program, the Nerds think it has a lot of value. It’s all about picking the card that’s right for you!

  • Donovan Nebreklievski

    Used to be able to purchase merchandise,they took that away.