Of all the different types of travel rewards credit cards on the market, Capital One Venture Miles has always been among the simplest and most straightforward. While most credit card rewards programs take some time to understand, there's not much of a learning curve with Capital One Venture Rewards.
There are still a few things you'll need to know to get the most out of your rewards. Whether you already have a Capital One card or you're planning to get one, this guide will cover both the basics and the finer details of Capital One Venture Miles.
Capital One Venture Miles are the travel rewards offered by some of Capital One's credit cards. You can redeem these miles for travel, cash back, or gift cards, but travel redemptions get you the most value per mile, so it's best to stick with them.
Despite their name, Capital One Venture Miles aren't part of a frequent flyer program. They're the rewards points you can use in the Capital One Venture Rewards program, and the word "miles" is just the branding that Capital One uses.
You can earn Capital One Venture Miles with either of the following credit cards:
If you have one of these cards, you'll earn miles on every purchase you make. Your miles also won't expire as long as your credit card is open.
Capital One Venture Miles are worth $0.01 per mile when you redeem them directly towards travel purchases.
If you transfer your miles to one of Capital One's travel partners, then their value will depend on how you use them after the transfer. You could end up getting more than $0.015 or even more than $0.02 per mile. On the other hand, a low-value redemption could get you well under $0.01 per mile.
You can also redeem miles for cash back, gift cards, or purchases with Amazon. With these options, your rewards are worth between $0.005 and $0.01 per mile.
To redeem Capital One Venture Miles, log in to your Capital One account and click "Rewards Miles." The link is located underneath your miles balance, in the same section as your current balance and available credit. Click "View Rewards." On the next page, you'll have the following redemption options:
Here's more on how each of these options works:
This takes you to Capital One Travel, where you can book a flight, hotel, or rental car and pay using your miles. You get a rate of $0.01 per mile, so a $200 flight would cost you 20,000 miles.
You can apply your miles as a credit to any travel purchases made within the previous 90 days at a rate of $0.01 per mile.
There are two advantages to using this method instead of booking a trip through Capital One Travel:
With this option, you can transfer miles to one of Capital One's travel partners. Transfer time ranges from just seconds to a few days. With most partners, transfers process either right away or within 48 hours. Here are the partners, the transfer ratios for each, and the number of miles you'd get in each partner's loyalty program by transferring 1,000 Capital One Venture Miles:
|Partner||Transfer Ratio||Miles Received for 1,000 Capital One Venture Miles|
|ALL Accor Live Limitless||2:1||500|
|Asia Miles (Cathay Pacific)||2:1.5||750|
This option takes you to Amazon, where you can link your Capital One credit card and redeem miles towards purchases. Since you only get $0.008 per mile, shopping with rewards isn't recommended.
You can buy gift cards using Capital One miles from many different retailers. The minimum gift card amount and the value you get per mile varies by retailer. You'll typically get a value of between $0.008 and $0.01 per mile.
You can request cash back as either a statement credit towards previous credit card purchases or as a check. Capital One Venture Miles are only worth $0.005 per mile when redeemed as cash back, making this a poor use of rewards. Cash back credit cards are a much better choice if you're interested in this type of redemption.
Capital One lets you transfer your miles at a 1:1 ratio, either to another one of your own accounts or somebody else's account. If you have multiple Capital One cards, such as a personal card and a business card, this feature lets you combine all your miles onto one account.
There are two keys to maximizing the value of Capital One Venture Miles:
Here's an example of how you can check which option gets you the most value for your points. Let's say you're interested in a ticket with Avianca that costs $800 or 30,000 miles in Avianca's LifeMiles program. That gives you two options:
In that case, a transfer would be a much better deal. On the other hand, if the cash price of the ticket was only $300, you could redeem your points as cash and book the airfare for 30,000 miles.
With the option to either transfer your rewards or redeem them for cash travel purchases, you can book just about any type of travel you want with Capital One Venture Miles. It doesn't take long to get used to the rewards page in your online account, and once you do, you'll be able to cash in your miles and get plenty of value in the process.
Capital One Venture Miles are the type of rewards that you earn when you have a credit card in the Capital One Venture Rewards program. This rewards program offers several different ways to use your miles for travel purchases.
You can earn Capital One Venture Miles by using a Capital One credit card in this rewards program. Depending on the card, you could earn miles every time you make a purchase and you could also potentially qualify for a sign-up bonus.
The value of Capital One Venture Miles varies depending on how you use them, but you can always get $0.01 per mile if you redeem them to book travel or as a statement credit towards travel purchases made within the previous 90 days.
When you're ready to redeem Capital One Venture Miles, go to your online credit card account and click on the link to go to your rewards page. From here, you can choose one of the options and proceed with the redemption process.
The most important way to maximize Capital One Venture Miles is to only use them for travel redemptions. Other redemption options typically offer less value. Make sure you also check how much you'd spend if you booked it in cash using your miles, or if you transferred miles to a travel partner and booked that way.
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