Capital One Miles: How the Program Works

To get the most out of Capital One Miles, you'll want to use them for travel.

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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:

In this article

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.

Capital One Miles also give you added flexibility because they don’t expire as long as your account remains open.

Cards that earn Capital One Miles

Capital One Venture Rewards Credit Card
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  • Rewards rate: 2 miles per dollar spent.

  • Bonus offer: Enjoy a one-time bonus of 60,000 miles once you spend $3,000 on purchases within 3 months from account opening.

  • Annual fee: $95.

Capital One VentureOne Rewards Credit Card
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  • Rewards rate: 1.25 miles per dollar spent.

  • Bonus offer: Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel.

  • Annual fee: $0.

Capital One Spark Miles Credit Card
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  • 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.

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 most cases, though, the transfer ratio is less than 1:1.

Transfer ratio explained: In the formula "X:Y," when you transfer X number of Capital One miles, you receive Y number of points or miles in the partner program.

  • Accor (2:1 ratio).

  • Aeromexico (1:1 ratio).

  • Air France/KLM (2:1.5 ratio).

  • Air Canada (2:1.5 ratio).

  • Alitalia (2:1.5 ratio).

  • Avianca (1:1 ratio).

  • British Airways (2:1.5 ratio).

  • Cathay Pacific (1:1 ratio).

  • Coming in 2021 — Choice Hotels (1:1 ratio).

  • Emirates (2:1 ratio).

  • Etihad (1:1 ratio).

  • EVA (2:1.5 ratio).

  • Finnair (1:1 ratio).

  • JetBlue (2:1.5 ratio).

  • Qantas (1:1 ratio).

  • Singapore Airlines (2:1 ratio).

  • TAP Air Portugal (1:1 ratio).

  • Turkish Airlines (2:1.5 ratio).

  • Wyndham Rewards (1:1 ratio)

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.

The fine print

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.

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