Capital One miles are worth 1 cent each when redeemed for travel and 0.5 cent each when redeemed for gift cards or cash back. That means 20,000 Capital One miles are worth $200 in travel or $100 cash back.
Capital One’s miles cards are the Venture and VentureOne consumer credit cards and the Spark Miles and Spark Miles Select business credit cards. The Venture and Spark Miles cards reward users with 2 miles for every dollar spent. With the VentureOne card, you’ll get 1.25 miles for every dollar, and the Spark Miles Select card gets you 1.5 miles per dollar. You can then redeem your Capital One miles for travel related expenses or cash back.
Redeeming your miles for travel is easy and you have two options: you can use your miles to erase past travel-related purchases, or use your miles to book upcoming trips. To redeem your miles for recent travel purchases, log on to your Capital One account and click on the “Rewards Miles” section of your account summary. Select “Cover Your Purchases,” and all of your travel expenses from the last 90 days will appear. Then select whichever ones you want to redeem miles for. To book travel using your miles, select the “Book a Trip” option, and it’ll take you to Capital One’s travel portal where you can book flights, hotels, and vacation packages directly, using your miles.
Besides flights, hotels, and other travel-related expenses, you can use your miles for gift cards or as a statement credit to cover non-travel purchases. However, doing so diminishes the value of your miles, with each mile being worth half a cent when redeemed for gift cards or non-travel credits. When it comes to Capital One credit cards with miles, you’ll get the most value when redeeming your miles for travel.
If you’re more interested in redeeming rewards for cash back and gift cards, Capital One has several excellent options. The most popular cash back credit cards from Capital One are the Savor and Quicksilver cards.
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