Capital One Venture miles are worth 1 cent each when you redeem them for travel expenses. For example, you can either use miles to pay for travel-related purchases that appear on your bill or book travel with miles through Capital One. But each Venture miles is worth just half a cent or less each when redeemed for gift cards or cash back.
It makes sense that Capital One Venture Rewards miles are worth the most when redeemed for travel. It’s a travel rewards credit card, after all. And there are clues everywhere, from “Venture” being part of its name to the fact that it offers rewards in the form of miles. So it’s pretty straightforward: full value if you use the card as intended, half as much if you want the flexibility of cash. But continue reading if you’d like more details on all of the redemption options.
Here’s how much Capital One Venture miles are worth:
Travel purchase “eraser”: 1 cent. You can use miles to pay for travel expenses once they appear on your bill, instead of using money from your bank account.
Travel booking tool: 1 cent. You can book airfare, hotels and rental cars through Capital One and pay with miles.
Cash back: Half a cent. You can opt for either a statement credit or a check in the mail.
Gift cards: Half a cent. Gift cards from 80+ retailers are available. They range from Amazon.com and Applebee’s to Walmart and Wa wa.
Donations: Half a cent or less (if available). In the past, Capital One has let you redeem miles for a charitable donation. But that option isn’t available right now. And I don’t know when (if) it will return.
Although Capital One provides a few different options for redeeming your Venture Rewards miles, they’re worth most when used for travel. So if you don’t plan to travel enough to make good use of the miles you earn, look for a card with cash back rewards instead.
1 cent for travel expenses, half of that for the rest, like cash back.
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