The Venture card miles conversion rate is 1 cent per 1 mile when redeemed for travel purchases. Venture’s conversion rate is 0.5 cent per 1 mile when cardholders redeem for cash, gift cards or merchandise.
When you redeem your miles for gift cards, you must redeem in certain increments that correspond to gift card denominations - $10, $25, $50, etc. Cardholders can redeem for cash back in any amount at any time. There’s also an automatic redemption option in which cash back will redeem on a specific date or when earnings reach a certain amount.
But Venture miles are most valuable and very easy to use when converted into travel. You have two choices.
The first is to use the Purchase Eraser to redeem your miles as a statement credit for travel purchases made in the past 90 days. Capital One makes it easy with what it defines as “travel” purchases. Even things like taxi fares, parking expenses, toll both purchases, Uber rides and more count as travel.
Or, you can book new travel reservations through Capital One. You can book flights, hotel rooms, car rentals and more and use your miles to pay for them.
Regardless of which travel redemption method you use, miles are always worth one cent apiece. Don’t wait too long, though. Venture reward miles do not expire as long as your account is open. But if your account is closed for any reason, you will lose any rewards you have not redeemed.