The best way you can get Capital One travel rewards is from the Capital One Venture Rewards Credit Card. Cardholders earn 2 miles per $1 spent on all purchases. Those miles can be redeemed at a rate of 1 mile=1 cent for any travel-related expenses. On top of the travel rewards earned on every purchase, cardholders can get a signup bonus of 60,000 miles for spending $3,000 in the first 3 months. This card has a $95 annual fee.
If you can’t justify a $95 annual fee, but still want to earn Capital One travel rewards, check out the Capital One VentureOne Rewards Credit Card. It has a $0 annual fee and requires the same good credit for approval as Capital One Venture. But Capital One VentureOne has a lower travel rewards rate of 1.25 miles per $1 spent. The Capital One VentureOne card also has a signup bonus of 20,000 miles for spending $500 in the first 3 months.
Redeeming Capital One travel rewards is quick and easy with Capital One’s Purchase Eraser. Any travel-related purchases you’ve made in the past 90 days are eligible to be erased. The miles are subtracted from your rewards balance immediately, and your account will be credited with the redemption within 2 to 3 days. Regardless of whether you use your miles to erase past travel purchases or to book a future trip, you’ll get the most value when redeeming miles for travel.
You need 100 Capital One miles for every dollar that a flight costs. Each mile is worth one cent when spent on travel. So, if your flight costs $200, you’ll need 20,000 miles. That’s a pretty standard rate for reward redemption.
Because not all flights are equal (in terms of distance, seating, time of year, etc.), their dollar cost varies a lot. So, credit card companies can’t charge the same number of points or miles for every flight. Instead, they use an exchange rate between their points or miles and the dollar cost of the flight. In this case, it’s 100 Capital One miles for $1 in airfare. And just to be clear, Capital One doesn’t offer any points cards. But miles work the same way.… read full answer
If you don’t have a Capital One miles card yet and are interested in one, there are two good options, the Capital One Venture Rewards Credit Card and the Capital One VentureOne Rewards Credit Card. Both cards require good or excellent credit, but their terms are a bit different. The Capital One Venture Rewards Credit Card gives you 2 miles per $1 on all purchases, with a 60,000 miles initial bonus and a $95 annual fee. The Capital One VentureOne Rewards Credit Card gives you 1.25 miles per $1 on all purchases, with a 20,000 miles initial bonus and $0 annual fee. So, you have to choose between a higher earning rate and fee or a lower earning rate and no fee.
If you do already have a Capital One miles card, you can redeem your miles by logging in to your Capital One account. You can use your points to book travel (flights, hotels, cruises, etc.) or pay for travel expenses after the fact with Capital One’s “purchase eraser” tool. The number of Capital One miles needed to pay for a recent flight will be listed when you select “Redeem Travel Purchases.” You’ll be able to use your miles for any flight from the past 90 days.
You can easily redeem Capital One Venture miles through the Capital One website, mobile app or customer service phone line. What’s unique with this card, though, is that you can redeem miles either before or after you pay for your travel expenses. You can also redeem miles for gift cards and other non-travel rewards, but you’ll get half the value if you do that.… read full answer
Here’s how to redeem Capital One Venture miles online:
Choose your redemption method. The options are: “Redeem travel purchases,” “Book a trip,” “Get gift cards,” “Get an account credit,” “Get a check by mail,” and “Transfer Rewards.”
Follow the instructions for the option you’ve chosen.
So, Capital One Venture’s redemption process is one of its major perks. Plus, with 2 miles per $1 spent, along with a 60,000 miles initial bonus, miles build up fast. It’s also useful to note that you can redeem through the Capital One app, too. Just log in with the same user name and password, click “Redeem Rewards” at the bottom, and select one of the options.
Here are the options for redeeming Capital One Venture miles:
Redeem travel purchases: 1 cent per mile
Capital One shows you what travel expenses you’ve made in the past 90 days, and you can use your miles to “erase” some or all of the cost from your credit card statement.
Book a trip: 1 cent per mile
The Capital One travel booking tool is powered by Orbitz, so you should have access to most major airlines, hotels and rental car companies.
Get gift cards: 0.5 cent per mile
90 stores are represented, including Bed Bath & Beyond, Lowe’s, AMC and Best Buy. Gift cards for as little as $10 are available for many stores. But the denominations vary by store.
Get cash back: 0.5 cent per mile
You can get a deposit into your checking or savings account or receive a check by mail. You can also set up automatic cash redemption when you reach a certain number of miles.
Transfer miles: Value depends on the partner
If you have another Capital One Venture or other travel rewards credit card account, you may be able to transfer your rewards to it.
The most convenient part about redeeming Capital One Venture miles is that you don’t have to decide to use them before making a purchase. You can use the so-called purchase eraser to pay for any type of travel expense charged to your card in the last 90 days. Capital One isn’t stingy about what it considers travel, either. It includes everything from hotels, airlines and cruises to Airbnb and Uber. That flexibility, combined with Capital One Venture’s top-notch rewards value, makes it one of the best cards available to frequent travelers.
Aeromexico (Club Premier) Air Canada (Aeroplan) Air France KLM (Flying Blue) Alitalia (MilleMiglia Program) Avianca Airlines (LifeMiles) Cathay Pacific (Asia Miles) Emirates (Emirates Skywards) Etihad Airways (Etihad Guest) EVA Air (Infinity MileageLands) Finnair (Finnair Plus) JetBlue (TrueBlue) Qantas (Quantas Frequent Flyer) Singapore Airlines (KrisFlyer) British Airways (Avios) TAP Air Portugal (Miles&Go) Turkish Airlines (Miles&Smiles)
Capital One Venture miles will count for a different number of airline miles after you transfer them, depending on which airline you choose. For example, 2 Venture miles will count for 1.5 Air Canada miles, which is a transfer ratio of 2:1.5. Other airlines will accept miles transfers at a ratio of 2:1 or 1:1.… read full answer
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