Charlie Smith, Member
@charliesmith
The Capital One Purchase Eraser is a rewards-redemption option on some Capital One credit cards that lets cardholders choose recent travel-related purchases and “erase” them with their earned miles. After redeeming their miles through the Purchase Eraser, you receive a statement credit that covers the cost of their travel purchases within 2 to 3 business days. You can “erase” airfare, hotel, and transportation charges made in the last 90 days.
Most travel rewards credit cards are more restrictive when it comes to redeeming miles. But some Bank of America credit cards also allow cardholders to "erase travel purchases," same as Capital One.
How the Capital One Purchase Eraser Works
What it is:
A rewards-redemption option that allows eligible Capital One cardholders to redeem miles and receive a statement credit that covers the cost of their recent travel-related purchases.
Eligible cards:
- Capital One Venture Rewards Credit Card
- Capital One Venture X Rewards Credit Card
- Capital One VentureOne Rewards Credit Card
- Capital One Spark Miles Select for Business
- Capital One Spark Miles for Business
How to use it:
- Log in to your Capital One account online or through the mobile app.
- Click on your rewards miles.
- elect the "Cover Your Travel Purchases" option.
- Your eligible travel purchases will show up, along with the number of miles required to pay for each in full.
Once you’ve selected the purchase(s) you want to erase, the miles will be immediately subtracted from your rewards balance. You can also erase a portion of a purchase, if you don’t have enough miles to cover the entire amount. Alternatively, you can do it over the phone, by calling customer service at (800) 227-4825.
Deadlines and timeline:
Purchase Eraser redemptions must be made within 90 days from the date the travel purchase posts to your account. Your account credit is usually applied to your balance within 2 to 3 business days after redeeming your rewards.
It is worth noting that miles are worth more when redeemed with the Purchase Eraser or used to book trips through Capital One's travel portal, compared to the other redemption options. So, it’s worth using Capital One miles rewards credit cards for travel expenses – you’ll have more eligible purchases to erase, and you’ll be able to get more value out of each redeemed mile.
Popular Credit Cards from Capital One, Our Partner
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0% Intro APR
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People also ask
How much are Capital One Venture miles worth?
The Capital One Venture (see details, rates & fees) miles are worth 1 cent each when you redeem them for travel expenses. The miles can also be redeemed for a check, statement credit, gift cards, and more, but at a lower value.
How much Capital One Venture (see details, rates & fees) Miles Are Worth:
| Travel | 1 cent |
| Gift Cards | 0.8 cents |
| Check / Statement Credit | ... |
How much are 40,000 airline miles worth?
40,000 airline miles are worth an average of $504, depending on the airline and when you choose to redeem your miles. Airlines usually offer multiple redemption options, but you’ll generally get the best value when you use miles for flights.
Value of 40,000 Miles by Airline
| Rewards Program | Value |
| $596 | |
| $548 |
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