- 17 transfer partners
- Lots of ways to redeem
- Multiple good credit card options
- Miles never expire as long as the account is open and in good standing
- Must book travel through Capital One's portal for the best value
- Miles have low value with non-travel redemption options
Capital One Miles Rewards Review Summary
Capital One Miles Rewards is the 2nd best credit card rewards program, according to WalletHub's latest comparison, receiving 89 points out of a possible 100. The Capital One Miles Rewards program features some very popular travel credit cards, including the Capital One Venture Rewards Credit Card and the Capital One Venture X Rewards Credit Card.
Capital One Miles Rewards credit cards provide miles which are generally worth 0.5 cents to 1 cent apiece, depending on which card you have and how you redeem. There are plenty of redemption options, from travel to a statement credit to gift cards.
Capital One Miles Rewards Review Scorecard
#1 for Earning Policies
#3 for Redemption Policies
#1 for Rewards Value per Mile
#14 for Eligibility & Transparency
Best Capital One Miles Rewards Credit Cards
Summary: Capital One Miles Rewards Scores by Review Category
|Rewards Value per Mile||30/30|
|Eligibility & Transparency||15/20|
How to Earn Capital One Miles Rewards
Category Rating: 100% (30/30)
You will earn at least 1.25 mile in return for every dollar you spend with a credit card that participates in the Capital One Miles Rewards program. Choosing the right credit card and using it strategically can enable you to earn even more miles, and there’s no limit on how many miles you can earn.
- Up to 10 miles per $1 spent: Cards in the Capital One Miles Rewards program offer the opportunity to earn large amounts of miles. Some have higher earning rates than others.
- Good credit card options: There are five different cards available, including options for both personal and business use.
- No limit on miles: You can earn an unlimited number of miles with any card in the Capital One Miles Rewards program.
Earning Restrictions to Watch Out For:
- Extra miles only through Capital One’s travel portal: Certain Capital One Miles Rewards credit cards offer extra miles on flights, hotels and car rentals, but only when those purchases are made through Capital One Travel.
How to Redeem Capital One Miles Rewards
Category Rating: 72% (14/20)
The best way to redeem Capital One Miles is for travel because it offers significantly more value than the other redemption options. Below, you can learn more about all the redemption options in the Capital One Miles Rewards program.
You can book new travel through Capital One’s booking tool or pay for existing travel purchases already charged to your card in the past 90 days. Alternatively, you can transfer your miles into the loyalty program of one of Capital One’s transfer partners.
You can receive cash back in the form of either a check or a statement credit.
Capital One allows you to redeem miles for gift cards of various denominations from a number of popular retailers.
Cardholders can redeem miles for charitable donations. They can also use their miles to pay for purchases through PayPal and Amazon.
Capital One Miles Rewards Transfer Partners:
|Accor Live Limitless||Emirates Skywards|
|Aeromexico Club Premier||Etihad Guest|
|Air France KLM Flying Blue||Infinity MileageLands|
|Air Canada Aeroplan||Finnair Plus|
|Asia Miles||Qantas Frequent Flyer|
|Avianca LifeMiles||Singapore Airlines KrisFlyer|
|British Airways Avios||TAP Air Portugal Miles&Go|
|Choice Privileges®||Turkish Airlines Miles&Smiles|
Redemption Restrictions to Watch Out For:
- Low value for cash back and gift cards–It’s best to spend your miles on travel. Other redemption options do not offer as much value per mile.
- Miles lost if account is closed – In general, your miles will not expire. However, if your account is closed, you will lose any miles you have not yet redeemed.
Capital One Miles Rewards Value
Category Rating: 100% (30/30)
Capital One miles are worth 0.5 cents to 1 cent each, and cards that participate in the rewards program offer different amounts of miles for different types of purchases. Values also vary when you transfer miles to a Capital One Miles Rewards transfer partner. But you will definitely get above-average value per $1 spent if you redeem for travel through Capital One.
Capital One Miles Rewards Redemption Value
|Redemption Options||Value of 1 point|
|Car rentals||1 cent|
|Rail & bus lines||1 cent|
|Travel agents & time shares||1 cent|
|Statement Credit||0.5 cents|
|$25 gift card||0.8 cents|
|$50 gift card||0.8 cents|
|Charity donation||0.5 cents|
|Redeem with PayPal||0.8 cents|
|Shop with Amazon||0.8 cents|
Capital One Miles Rewards Eligibility & Transparency
Category Rating: 75% (15/20)
Not every Capital One rewards credit card gets to participate in the Capital One Miles Rewards program. For example, Capital One has a number of cash back credit cards that are in their own program.
|Capital One Miles Rewards Credit Cards|
|Capital One Venture Rewards Credit Card
Capital One VentureOne Rewards Credit Card
Capital One Venture X Rewards Credit Card
Capital One Spark Miles for Business
Discontinued Capital One Miles Rewards Cards
Capital One has discontinued some of its Miles Rewards credit card offers over the years. While some people may still have these cards, they’re not available to new applicants and were not factored into scoring.
- Capital One® Business Platinum with Double No Hassle Miles℠
- Capital One® No Hassle Miles℠ Rewards
- Capital One® Spark® Select for Business
Popular Capital One Miles Rewards Credit Cards
|Capital One Credit Card||Annual Fee||Initial Bonus||Rewards Rate|
|Capital One Venture Rewards Credit Card||$95||75,000 miles||2 - 5 miles / $1|
|Capital One VentureOne Rewards Credit Card||$0||20,000 miles||1.25 - 5 miles / $1|
|Capital One Venture X Rewards Credit Card||$395||75,000 miles||2 - 10 miles / $1|
|Capital One Spark Miles for Business||$0 intro for 1st yr, $95 after||50,000 miles||2 miles / $1|
|Capital One Spark Miles Select for Business||$0||50,000 miles||1.5 miles / $1|
For more information, check out our editors’ latest picks for the best Capital One credit cards by category.
5 Tips for Getting the Most Out of Capital One Miles Rewards
Following these tips could mean the difference between earning a free family vacation and only getting enough for a one-way flight:
- Pick the Right Card & Use it Wisely
Some Capital One cards offer bonus miles if you spend a certain amount within a few months of account opening. Others reward you more for purchases in certain spending categories. And some combine the two. Your job is to find a card that complements your particular needs.
- Redeem regularly
The whole point of earning credit card rewards is to enjoy the savings they provide. If you just leave your Capital One miles sitting in your account unused, they won’t do you much good.
- Pay your bill on time every month
Your Capital One miles won’t expire as long as your account remains open and in good standing. In other words, you have nothing to worry about if you pay your monthly bills on time.
- Pay your bill in full every month
Paying interest at a credit card’s regular APR will end up costing you more than rewards save you.
- Redeem before closing your account
You will lose any Capital One miles left unredeemed when you close your account.
Capital One Miles Rewards vs. Chase Ultimate Rewards vs. American Express Membership Rewards
|Category||Capital One Miles Rewards||Chase Ultimate Rewards||American Express Membership Rewards|
|Average Point/Mile Value||0.7 cents||1.07 cents||0.67 cents|
|Redemption Options Rank||3||2||12|
|Notable Rewards Card||Capital One VentureOne Rewards Credit Card||Chase Freedom Unlimited®||Amex EveryDay® Preferred Credit Card|
|Notable Travel Rewards Card||Capital One Venture Rewards Credit Card||Chase Sapphire Preferred® Card||The Platinum Card® from American Express|
Capital One Miles Rewards Review Methodology
This review of Capital One Miles Rewards is based on the same methodology as WalletHub’s annual study on the Best Credit Card Rewards Programs. Editor’s ratings reflect the sum of each program’s scores across the study’s four major categories, adjusted to a 5-point scale to create a representative distribution of ratings. The four major categories considered were: Earning Policies, Redemption Policies, Rewards Value per $1 Spent and Eligibility & Transparency.
WalletHub calculated Capital One Miles Rewards mile values by comparing the dollar value of redemption items against the number of miles needed for each.