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Credit miles are a great way to save money on travel, especially if you travel frequently. Capital One lets you earn miles on four of its credit cards, namely Venture cards. You can earn miles on anything from hotel stays and flights to rental cars booked while travelling.
But what is the real value of Capital One miles? What can you save with your award miles? Below, you’ll find everything you need to know about the value of Capital One miles.
How to Earn Capital One Miles
VentureOne Rewards for Good Credit
The VentureOne Rewards card has no annual fee and is suitable for people with good credit. You can earn unlimited 5x miles on rental cars and hotels you book through Capital One Travel.
Plus, you earn unlimited 1.25x miles on other purchases.
Unlike other Venture cards, this one has no bonus miles for new card members.
VentureOne Rewards also has a $0 annual fee and allows you to earn unlimited 5x miles on rental cars and hotels booked through Capital One Travel. You also get unlimited 1.25x miles on other purchases.
New card members earn 20,000 bonus miles after spending $500 on purchases within the first three months of account opening.
The Venture Rewards credit card is offered to people with excellent credit ratings. It has an annual fee of $95.
You can earn unlimited 5x miles on rental cars and hotels booked through Capital One Travel. Plus, you can earn 2x unlimited miles on other purchases.
As a new card member, you earn 60,000 bonus miles after spending $3,000 within the first three months of opening your account.
Other travel benefits of this card include:
- Two free visits to Capital One lounges each year
- Up to $100 TSA Precheck or Global Entry credit
With an annual fee of $395, Capital One’s VentureX Rewards credit card is the newest addition to the Venture series. You earn 10x unlimited miles on rental cars and hotels booked through Capital One Travel.
Plus, you earn unlimited 5x miles on all flights you book with Capital One Travel. For other purchases you earn 2x miles.
As a new cardholder, you earn 100,000 bonus miles after spending $10,000 within the first six months of account opening. Other travel benefits of this card include:
- Free Priority Pass Membership
- $100 credit for TSA PreCheck or Global Entry
- Unlimited access to Capital One lounges
Capital One Miles: how much are they worth?
Capital One has a rewards calculator on its website where you can check the value of your miles. To clear up any confusion, VentureOne miles are offered through these two cards:
- VentureOne Rewards
- VentureOne Rewards for Good Credit
Venture miles are for these two cards:
- Venture X Rewards
- Corporate Awards
Say you spend about $1,000 on purchases each month. You will earn 24,000 Venture Miles, equivalent to $240 in travel rewards, or 15,000 VentureOne miles, equivalent to $150 in travel rewards.
According to this calculation, one mile equals $0.01.
Similarly, if you spend $2,000 on purchases each month, you earn 48,000 Venture miles or 30,000 VentureOne miles. The first is worth $480 in travel rewards and the second is worth $300 in travel rewards.
People with the VentureX credit card are likely to spend more money in a month because they have high credit scores and likely travel more frequently. If you spend $10,000 per month, you will earn 240,000 Venture miles. These are equivalent to $2,400 in travel rewards.
How can you use Capital One Rewards?
The most obvious way to use miles is to book a flight, but there are other ways to redeem your Capital One miles.
Cover travel purchases
Besides flights, you can also use miles to cover hotel stays or pay for experiences. If you have a Venture card, you can use the miles to cover any travel purchase within 90 days of purchase.
If you have enough miles, you can even get the whole trip for free.
Note that all purchases you make from hotels, airlines, car rental companies, limousine services, train lines, taxis, travel agencies, timeshares and cruise lines are considered such as travel purchases by Capital One.
However, the respective merchants assign codes to each category. Merchants decide how and when rewards can be redeemed for their service.
If a friend or family member is planning a trip but is missing miles on their Venture card, you can also transfer your miles to them. In this way, they can save a large part of their travel expenses or completely reduce the total cost of their flight.
Capital One lets you send as many miles as you want to your friends or family.
Transfer miles to airlines
Capital One partners with more than 15 airlines. You can transfer your miles to these airlines’ loyalty programs and access different services and redemptions depending on the program.
For example, you can use your miles to upgrade your seat to first class on a partner airline.
Since each airline partner has its own policies and conditions, you should compare prices before booking a flight as you may get a different fare for the same route from different partners.
Redeem for cash
If you’re not planning to travel or book a hotel stay anytime soon, you can also redeem your miles for cash. Miles are redeemed as a check or statement credit.
The amount will take two to three days to appear in your account. If you requested a check, it will arrive in the mail in two to three weeks.
Book a flight/trip
Capital One Travel is Capital One’s portal to book flights, hotel stays and car rentals for 5x unlimited miles on all Venture cards. You can also redeem your miles through Capital One Travel to save money on accommodation and flight fares.
Get gift cards
Capital One Venture cardholders can also redeem their miles for gift cards from various merchants, such as Barnes & Noble, Best Buy, iTunes, etc.
Good to know
The VentureX rewards card is the most expensive Venture card, but also offers the most features. While other cards let you earn miles and give away bonus miles only for minimal spend, the VentureX card also gives up to $300 in Capital One Travel credit per year. You can use it to book flights, tickets or rentals on Capital One’s travel portal. Plus, cardholders receive 10,000 birthday bonus miles.
How to get the most out of Capital One Miles
Since Capital One Rewards can save you hundreds of miles on booking flights from the Capital One Travel Portal, it’s best to redeem your miles directly from there. Transferring your miles to partner airlines is not always the best idea as you may be limited by the terms and conditions of the airline or its loyalty program.
But if you don’t want to travel by plane, you can also travel around the country by train.
With a Venture card, you can virtually eliminate all your travel costs, provided you have enough miles. Alternatively, you can show up to an event in a limo and let your Venture miles cover it.
Capital One Venture cards, with their 5x unlimited miles on purchases and bonus miles, can help you save a substantial amount on your next trip. Even if you don’t want to redeem your miles for airline tickets, you can use them to book a limo, pay for travel, book hotels, rent cars, buy gift cards, transfer miles to select loyalty programs, share them with your friends and family or simply exchange them for cash.
Before transferring miles to Capital One airline partners, be sure to compare each airline’s prices to get the best deal. Differences in exchange policies may make the fare different for each airline.
Capital One Miles FAQs
Here are some frequently asked questions about the value of Capital One miles.
- How to use Capital One Travel?
- Capital One Travel is Capital One’s travel portal that you can use to book flights and hotel stays. The website predicts flight prices with 95% accuracy and sends you notifications when it’s the best time to book, saving you up to 15% on average. Even better, Capital One Travel refunds you the difference up to a certain amount if they get the price drop wrong. You earn unlimited 5x miles for all bookings made through Capital One Travel with your Venture credit cards.
- Do Capital One miles expire?
- All Capital One rewards, including miles, do not expire while your account is open. You can redeem your miles or rewards for the lifetime of your account.
- What does Capital One consider travel?
- Capital One considers all purchases from hotels, airlines, taxis, bus lines, rental car agencies, timeshares, travel agents and cruise lines as travel.
Editorial Note: This content is not provided by Capital One. Any opinions, analyses, criticisms or recommendations expressed in this article are those of the author alone and have not been reviewed, endorsed or otherwise endorsed by Capital One.