Capital One Program Guide: Earning and Redeeming Miles
Capital One offers several popular travel credit cards that earn miles. Capital One miles can be redeemed for more than just cash back or gift cards. Members can also use them to pay for travel expenses or can transfer them to frequent flyer or hotel loyalty partners.
The key to maximizing Capital One miles is knowing which Capital One credit cards offer these rewards and how you can redeem points for a value of one cent or more.
How do Capital One rewards work?
With a Capital One credit card, you can earn cash back or flexible miles for travel. This guide is focused on the rewards you can earn through the Capital One miles program, which you can earn with their travel credit cards.
Cardholders with eligible Capital One travel cards can earn miles by making credit card purchases. If you’re a new cardholder, you may also be able to earn a welcome bonus if you meet a minimum spending requirement within a few months of opening your account.
Capital One rewards at a glance
| Do miles expire? | No expiration for the life of the account |
| How much are miles worth? | 0.5 cents to 2 cents per mile (and potentially more) |
| What's your mile-earning potential? | 1.25X to 10X miles per dollar spent |
| What can you redeem miles for? | Travel through Capital One, point transfers, cash back, gift cards and more |
How much are Capital One miles worth?
Capital One miles can be worth anywhere from 0.5 cents each to 2 cents each or more. Using your miles for cash back, gift cards, or purchases made through Amazon.com or PayPal.com will get you the least bang for your buck, at a value of less than one cent per mile.
Miles are worth 1 cent each when redeemed through the Capital One Travel portal, and they can be worth 2 cents each or more when transferred to airline and hotel partners and used for a premium travel redemption.
The chart below shows which Capital One rewards redemption options are the most and least valuable.
Browse our top picks for the best rewards credit cards.
Capital One miles value
| Redemption Options | Value |
|---|---|
| Cash back | 0.5 cents per mile |
| Merchandise | 0.8 cents per mile |
| Gift cards | 0.8 cents per mile |
| PayPal purchases | 0.8 cents per mile |
| Amazon.com purchases | 0.8 cents per mile |
| Capital One experiences | Varies (usually 0.8 cents per mile) |
| Travel statement credits | 1 cent per mile |
| Travel through Capital One portal | 1 cent per mile |
| Point transfers to airlines and hotels | Up to 2 cents per mile or more |
How to earn Capital One miles
To earn Capital One miles, you’ll need one of its travel credit cards. You can earn miles through regular card purchases and spending, or by taking advantage of a welcome offer or referral offer.
Welcome offers can be earned if you spend enough within the first few months of opening an account. Capital One referral offers let cardmembers earn bonus miles by referring friends and family.
Compare Capital One Venture Rewards cards
| Credit Card | Welcome Offer | Earning Rate | Annual Fee |
|---|---|---|---|
| Capital One VentureOne Rewards Credit Card | Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel | 1.25 Miles per dollar on every purchase, every day; 5 Miles per dollar on hotels and rental cars booked through Capital One Travel | $0 |
| Capital One Venture Rewards Credit Card | 75,000 Miles once you spend $4,000 on purchases within 3 months from account opening | 2 Miles per dollar on every purchase, every day; 5 Miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel | $95 |
| Capital One Venture X Rewards Credit Card | Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel | 2X Miles per dollar on every purchase, every day; 10X Miles per dollar on hotels and rental cars booked through Capital One Travel; 5X Miles per dollar on flights and vacation rentals booked through Capital One Travel | $395 |
| Venture X Business | Earn 150,000 Miles once you spend $30,000 in the first 3 months from account opening | 2 Miles per dollar on every purchase; 5 Miles per dollar on flights and vacation rentals booked through Capital One Travel; 10 Miles per dollar on hotels and rental cars booked through Capital One Travel | $395 |
Compare Capital One business rewards cards
| Credit Card | Welcome Offer | Earning Rate | Annual Fee |
|---|---|---|---|
| Capital One Spark Miles Select for Business | One-time bonus of 50,000 miles once you spend $4,500 on purchases within 3 months from account opening | 1.5 Miles per $1 on every purchase 5X miles on hotels and car rentals booked through Capital One | $0 |
| Capital One Spark Miles for Business | Earn a one-time bonus of 50,000 miles – equal to $500 in travel – once you spend $4,500 on purchases within the first 3 months from account opening. | 2 Miles per $1 on every purchase, everywhere; 5 Miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel 5X miles on hotels and car rentals booked through Capital One | $0 intro for first year; $95 after that |
Welcome offers
Capital One credit cards that earn miles often have welcome offers that let users earn additional miles. You can earn the extra miles by meeting a minimum spending requirement within a few months of signing up.
Referral bonus
Capital One rewards credit cards also offer referral bonuses, which you can get if another person signs up for a card through your link. These bonuses vary based on the card.
For example, Capital One Venture X Rewards Credit Cardholders can earn 20,000 bonus miles for each friend they refer, up to a maximum of 100,000 bonus miles per year.
Annual bonus miles
The Capital One Venture X Rewards Credit Card and the Venture X Business also offer 10,000 annual bonus miles each year the card is renewed and the annual fee is paid. You’ll also get an annual $300 Capital One Travel credit with each of these cards.
If you use the annual bonus miles and the $300 credit through Capital One Travel, the combined value is $400, which could effectively cancel out the expensive annual fee.
How to redeem Capital One rewards
Capital One miles are very flexible when it comes to travel, that isn’t the only way to redeem your rewards. This makes Capital One travel credit cards a good option for people who want to be able to redeem their miles in more than one way.
Capital One Travel
The Capital One Travel portal is similar to online booking sites like Expedia or Priceline. Essentially, cardholders can use the portal to shop for airfare, hotel stays and car rentals, then book the travel they want at a rate of 1 cent per mile.
Capital One Travel also lets you redeem a combination of miles and cash rewards if you are short on miles for the booking you want.
Pay for travel expenses
Cardholders with Capital One travel credit cards can also redeem their miles to cover travel purchases charged to their card. This can be a good option whether you want to book a hotel or flight directly with a travel brand, like Wyndham or Air Canada, or if they want to book travel through a discount travel site like Expedia.
This redemption option is worth 1 cent per mile, meaning 75,000 miles are worth $750 in travel statement credits.
Transfer miles to loyalty program partners
Capital One also offers a range of airline and hotel partners, most of which let users transfer their miles at a 1:1 ratio. This chart shows who the Capital One transfer partners are and what each of their transfer ratios are:
| Transfer Partner | Point Transfer Ratio (Capital One miles to points/miles) |
|---|---|
| Aeromexico Club Premier | 1,000:1,000 |
| Air Canada - Aeroplan® | 1,000:1,000 |
| ALL Accor Live Limitless | 1,000:500 |
| Cathay Pacific - Asia Miles | 1,000:1,000 |
| Avianca LifeMiles | 1,000:1,000 |
| British Airways Executive Club | 1,000:1,000 |
| Choice Privileges® | 1,000:1,000 |
| Emirates Skywards | 1,000:1,000 |
| Etihad Guest | 1,000:1,000 |
| EVA Air - Infinity MileageLands | 1,000:750 |
| Finnair Plus | 1,000:1,000 |
| Flying Blue (Air France) | 1,000:1,000 |
| Qantas Frequent Flyer | 1,000:1,000 |
| Singapore Airlines KrisFlyer | 1,000:1,000 |
| TAP Miles&Go | 1,000:1,000 |
| Turkish Airlines | 1,000:1,000 |
| Virgin Red | 1,000:1,000 |
| Wyndham Rewards | 1,000:1,000 |
Shop with rewards
You can also use Capital One miles to shop for merchandise through the card issuer itself, or by using PayPal or shopping through Amazon.com. Each of these options comes with a redemption value of 0.8 cents per mile.
Gift cards
Capital One miles can also be used for various gift card options that may change over time. Most gift card options are offered with a redemption value of 0.8 cents per mile. Examples of gift card options available through the platform include:
- Banana Republic
- Barnes & Noble Booksellers
- Old Navy
- Starbucks
- Ulta
- Wayfair
Capital One Entertainment
You can also use Capital One miles to book various experiences and events, which can include sporting events, concerts, Broadway-style shows, culinary experiences and more. There are also experiences that are exclusive to Capital One card members, which change throughout the year.
Statement credit
You can also redeem Capital One miles as a statement credit to cover any purchases made to your card, but you’ll only get 0.5 cents per mile in value if you go this route.
Cash
You can also redeem miles for a check in the mail, but that means getting a redemption value of just 0.5 cents per mile.
Gift miles to someone else
You can also transfer miles to friends or family members if they also have a credit card that earns the right type of rewards. For example, you could transfer miles from your Capital One Venture account as a gift to a friend or family member with an eligible card.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
Frequently asked questions (FAQ)
Capital One miles do not expire as long as your account is open and in good standing. When your credit card rewards don’t expire, it’s easier to save up for a big redemption when you’re ready.
You can redeem Capital One miles for gift cards, statement credits, merchandise, travel through a portal or transfers to airline and hotel partners.
Capital One miles are typically worth 0.5 cents to 2 cents (or more) per mile, depending on how you redeem them.
The Capital One Platinum Credit Card doesn’t offer cardholders any rewards points or cash back on purchases.
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply
The information related to the Capital One VentureOne Rewards Credit Card, Capital One Venture Rewards Credit Card, Capital One Venture X Rewards Credit Card, Venture X Business, Capital One Spark Miles Select for Business, Capital One Spark Miles for Business and Capital One Platinum Credit Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
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