Capital One Miles: How the Program Works
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If you have a Capital One travel credit card, then you can earn Capital One Miles. Here’s what you need to know about those miles and how to get the most out of them:
Capital One Miles: The basics
Depending on which of Capital One's travel cards you’re using, you'll earn 1.25 to 2 miles for every dollar of spending. Those miles can be redeemed for up to 1 cent apiece, with travel redemptions offering the most value. You can also choose to transfer your miles to a variety of travel transfer partners, which can allow you to yield a higher value for your miles.
Capital One Miles also give you added flexibility because they don’t expire as long as your account remains open and in good standing.
Cards that earn Capital One Miles
Rewards rate: 2 miles per dollar spent.
Bonus offer: Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel.
Annual fee: $395 (see rates and fees).
Rewards rate: 2 miles per dollar spent.
Bonus offer: Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel.
Annual fee: $95 (see rates and fees).
Rewards rate: 1.25 miles per dollar spent.
Bonus offer: Earn a bonus of 40,000 miles once you spend $1,000 on purchases within 3 months from account opening, equal to $400 in travel.
Annual fee: $0 (see rates and fees).
Rewards rate: 2 miles per dollar spent.
Bonus offer: Earn a one-time bonus of 50,000 miles – equal to $500 in travel – once you spend $4,500 on purchases within the first 3 months from account opening.
Annual fee: $0 intro for the first year, then $95 (see rates and fees).
How to redeem Capital One Miles
Paying for travel
The best way to redeem Capital One Miles is for travel. You can either use them to book travel through Capital One, or you can redeem them for credit on your statement against travel purchases. With either option, miles are worth 1 cent apiece.
The big draw here is that you can book travel however you want — through Capital One or elsewhere, flying on any airline, staying at any hotel — and use your miles to pay for it. That's why the ubiquitous ads for the Capital One Venture Rewards Credit Card stress that there are no blackout dates or restrictions on how you use your miles.
There is also no minimum redemption amount when using your miles for travel expenses.
Transferring to loyalty programs
Capital One lets you transfer your miles to the loyalty programs of more than a dozen airline and hotel partners. In some cases, though, the transfer ratio is less than 1:1.
When you transfer your miles, the value you ultimately get per mile depends on how you redeem them with the program you moved them to.
Gift cards
This redemption method will get you a value of around 1 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, though.
Other redemption options
You can also use your Capital One miles for cash back in the form of a check or statement credit for a non-travel purchase. But cash-back redemptions cut the value of mile in half, meaning that miles are worth 0.5 cent each. You'll need a minimum of 5,000 miles for a cash-back redemption.
Key takeaways about Capital One Miles
There isn't a lot of fine print in the Capital One rewards program that could 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, however, 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. But carrying a balance won’t affect your ability to earn rewards, as long as you make your minimum payment on time.
2x-5x
Miles75,000
Miles
2x-10x
Miles75,000
Miles
1%-8%
Cashback$200
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