What’s the Value of Capital One Miles?
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Capital One miles are worth exactly 1 cent apiece when booking travel through the Capital One portal.
Getting 1 cent per mile isn’t terrible, but more valuable redemptions are available when booking with partners.
We estimate the value of miles redeemed with Capital One transfer partners at 1.7 cents.
Why are Capital One rewards called “miles” instead of “points,” even though they’re earned by spending with Venture cards rather than by flying? Nobody knows. But we do know how much they’re worth.
Based on our analysis, Capital One miles are worth from 1 cent to 1.7 cents each, depending on how they’re used.
Why the big spread? Because these points are worth a flat value when booking travel through the Capital One travel portal, which is how many people use them. They can be worth significantly more when transferred to Capital One’s transfer partners, but maximizing them in this way takes more work and dedication.
» Learn more: The best travel credit cards might surprise you
What’s the value when booking travel through the Capital One portal?
You can use Capital One miles as though they were cash by booking travel through the Capital One portal and paying with miles. They're worth exactly 1 cent apiece when used this way, and you can't squeeze more value from them.
The benefit of using miles this way is simplicity. All you have to do is sign in, navigate to the travel portal and search for a flight, hotel room or rental car. Capital One will display the cost in both cash and miles, and you’ll choose how you want to pay at checkout.
The downside is value. Getting 1 cent per mile isn’t terrible, but more valuable redemptions are available when booking with partners.
» Learn more: How the Capital One Miles program works
What’s the value when transferring to Capital One partners?
Unlike in the previous section, there’s no simple answer to this question. You could get far more than 1 cent in value when transferring to partners, but you could also get far less if you’re not careful. Consider this option akin to trading in stocks rather than investing in bonds: It’s potentially more lucrative but also carries more uncertainty.
We estimate the value of miles redeemed with Capital One transfer partners at 1.7 cents. This figure is based on the more valuable transfer partnerships and ignores the lower-value transfer partnerships. Savvy points spenders should know which is which if they want to get the most from their miles.
Note: There are more Capital One transfer partnerships than what's shown above. These are the partners for which we have an estimated value.
How much are Capital One miles worth?
Use our calculator below to convert any given number of Capital One miles to dollars, based on both the baseline and NerdWallet estimated values.
Cards that earn Capital One miles
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.
» Learn more: Review of the Capital One Venture Rewards Credit Card
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.
» Learn more: Review of the Capital One VentureOne Rewards Credit Card
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.
» Learn more: Review of the Capital One Spark Miles for Business
How did we determine the value of Capital One miles?
For our NerdWallet estimate of 1.7 cents per Capital One mile, we factored in several variables:
The value of these points when used to book travel directly with the credit card’s travel portal.
The value of the airline and hotel points to which these points can be transferred, when applicable (based on the separate analyses above).
The number of top-tier travel transfer partners, as determined by our expert panel.
The overall value is determined as a weighted average between No. 1 and No. 2, with the weight determined by No. 3. The program with the largest number of high-value partners receives a 100% weight on No. 2, and a program with zero high-value partners receives a 50% weight on No. 2.
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for:
Flexibility, point transfers and a large bonus: Chase Sapphire Preferred® Card
No annual fee: Bank of America® Travel Rewards credit card
Flat-rate travel rewards: Capital One Venture Rewards Credit Card
Bonus travel rewards and high-end perks: Chase Sapphire Reserve®
Luxury perks: The Platinum Card® from American Express
Business travelers: Ink Business Preferred® Credit Card