Now that Capital One transfer partners, their rewards program is becoming a major player with the likes of other programs, including Chase Ultimate Rewards, Citi ThankYou Points, and Amex Membership Rewards. This guide will cover the traditional way Capital One Miles has been redeemed along with the new transfer partner options.
In short, Capital One Miles can be redeemed for $0.01 each toward travel purchases or transferred to airline partners (at a ratio of 1,000 Capital One Rewards miles to 750 airline miles in most instances or 1,000 Capital One Rewards miles to 500 airline miles for two partners).
For a beginner, I like Capital One Miles for three reasons.
1) They are the easiest to redeem. Using miles to reimburse yourself for travel expenses is a fairly easy process.
2) Your free travel can be felt immediately. If your trip is just a few weeks away, you can use your card immediately for travel purchases before hitting your bonus. Then, once you hit your bonus, you can redeem miles retroactively for travel purchases.
3) You earn your bonus ASAP when your spending requirement is reached. Once you meet your required spending, those miles show up right away. No waiting for billing cycles or next month’s statement.
Below, you’ll find everything you need to know about Capital One Miles.
- Earn Points
- Redeem Points
- Manage Points
The easiest and quickest way to earn Capital One Miles is through Venture and Spark Miles credit card signup bonuses. Below are the current Capital One cards that earn Capital One miles.
Capital One Miles are worth 1 cent each when redeemed for travel. It is possible to get more value in some instances by transferring points to airline partners.
The easiest way to use Capital One Miles is through their “Purchase Eraser.” Purchases made from airlines, hotels, rail lines, car rental agencies, limousine services, bus lines, cruise lines, taxi cabs, travel agents and time shares are generally considered to be travel purchases for the purposes of requesting a statement credit via Capital One’s “purchase eraser”(though note that this is based on the merchant category code assigned to them by the merchant). Purchase eraser requests for a statement credit must be made within 90 days of the date your travel purchase posts to your account and can be done easily online.
Since you can make your purchases directly from travel providers, you can make bookings that qualify for elite credit / benefits and then apply your Capital One Rewards “miles” after the fact. Another somewhat unique feature in the Capital One system is that you do not need to have earned the necessary miles before making a booking since you have 90 days from the date the charge posts to your account to make a redemption.
Why is this such a good idea for those traveling ASAP? For those taking a trip in just a weeks, you can signup for a Capital One® Venture® Rewards Credit Card and use it for travel purchases right away. Then, you can earn your signup bonus and retro-actively apply your miles to those initial purchases. Most of the travel rewards cards require you to hit your bonus spending before taking advantage of free travel.
Often the best use of a transferable currency is to transfer points to airline partners in order to book high-value awards. Your best bet is usually to wait until you find a great flight award before transferring points. Also, Capital One added two new partners namely: Accor Live Limitless and Wyndham. They also improved the transfer ratio for JetBlue.
Transferring to your chosen program is simple: log in to your credit card account, click your Rewards Miles balance, then choose “Transfer Your Rewards”. From there, select your chosen program and enter your loyalty account information as well as the number of miles you wish to transfer in increments of 100 Capital One Rewards miles.
Step 1: Log into your credit card account
Log in to your account and click on your “Rewards Miles” balance.
Step 2: Scroll down and click “Use My Miles”
On the next page, scroll down to “Transfer Your Rewards” and click “Use My Miles”.
That will bring you to the page of transfer partners and ratios.
Step 3: Click on your chosen partner
From there, if you click on a partner, it will expand details and provide a link to “Enroll Now” if you are not yet a member of that rewards program.
Next click “transfer miles” to the right of the ratio.
Step 4: Enter your loyalty account information
You’ll next need to enter your Membership Number twice. You can paste it into the first field, but you’ll have to type it in the second time.
One notable point here: the terms state that the Loyalty Program must be registered to the exact username on the Capital One account.
Step 5: Choose the amount and complete the transfer
Finally, choose the number of miles you would like to transfer and click “Complete Transfer”. That’s it!
|Rewards Program||Capital One Transfer Ratio||Best Uses|
|AeroMexico ClubPremier||1000 to 750||AeroMexico is a SkyTeam partner. Club Premier points can be used to book flights on AeroMexico, SkyTeam alliance members (such as Delta or Korean Air), or on select partner airlines. Award prices tend to be quite high, but if you transfer points to AeroMexico with a great multiple (such as from Membership Rewards 1 to 1.6), prices can be reasonable.|
|Air Canada Aeroplan||1000 to 750||Redeem for Star Alliance flights. Multiple stopovers allowed on international flights. Reasonable award prices to Europe for business and first class.|
|Air France KLM Flying Blue||1000 to 750||Monthly Air France Promo Awards often represent very good value. Air France miles can be used to book Sky Team awards, including Delta awards.|
|Alitalia MilleMiglia||1000 to 750||Alitalia is a member of the SkyTeam alliance. Unfortunately, fuel surcharges can be quite high, and partner awards cannot be booked online. Worse, after numerous devaluations, few sweetspots exist in this program.|
|Avianca LifeMiles||1000 to 750||Avianca LifeMiles can be great for Star Alliance awards. They offer reasonable award prices and no fuel surcharges on awards. They also offer shorthaul awards within the US (for flying United, for example) for as few as 7,500 miles one-way. Best of all, their mixed-cabin pricing can lead to fantastic first-class award prices.|
|Cathay Pacific Asia Miles||1000 to 750||Cathay Pacific has a fairly generous distance based award chart and allows multiple stopovers. Fuel surcharges can be very high on certain routes. Cathay Pacific Asia Miles can be a good option for booking American Airlines flights with a distance based award chart, especially if other OneWorld Alliance miles aren’t available.|
|Emirates Skywards||1000 to 500||Emirates has different award charts for each airline partner. Sometimes they allow one-way awards, sometimes they do not. In general, award prices are fairly high.|
|Etihad Guest||1000 to 750||Etihad has a very competitive award chart for American Airlines flights, among others. For example, they charge only 50,000 miles one-way for business class flights from North America to Europe. Partner awards must be booked over the phone.|
|EVA Air Infinity MileageLands||1000 to 750||While there are some niche sweet spots with EVA’s program, you’ll usually do better transferring points to Singapore Airlines to book Star Alliance awards.|
|Finnair Plus+||1000 to 750||Award prices are quite high compared to competing programs. Interestingly, miles can be exchanged for tier points (towards elite status).|
|Hainan Airlines||1000 to 750||I’m not aware of any great uses for Hainan miles|
|JetBlue TrueBlue||1000 to 750||Points can be used on one-way and round-trip flights. Another unique feature of JetBlue is, families can pool reward points into a family account. Most airlines don’t do that. And, any seat on any JetBlue flight can be booked. If and only if it is available to be book with cash and has no blackout dates.|
|Qantas Frequent Flyer||1000 to 750||Best use is probably for flights on El Al with no fuel surcharges. Qantas offers distance based award charts similar to Cathay Pacific. Both are OneWorld Alliance members. I recommend comparing award prices across both programs before transferring to either. Qantas offers round the world business class awards for only 280,000 points (but with many restrictions)|
|Qatar Privilege Club||1000 to 750||Given Qatar’s award chart devaluation plus the addition of award booking fees in May 2018, I’m not aware of any particularly good uses for these miles.|
|Singapore Airlines KrisFlyer||1000 to 500||Use to book Singapore Airlines First Class awards (generally reserved for their own members) or for Star Alliance awards. Low change fees and no close-in booking fees make this a very good program for booking United Airlines flights.|
Go here for a list of all rewards programs, transfer partners, and award charts.
Capital One Rewards Miles can be redeemed for 0.5 cents each either as statement credits or as cashback via check. That’s a very poor value and not recommended.
One notable exception is the ability for some cardholders to redeem for “Special Hotel Offers”, which are specific hotel gift cards offered at much better rates. At the time of writing, this section of the Rewards portal offers a $900 gift card to Fairmont, Four Seasons, Marriott, Raffles, or Ritz-Carlton for 64,250 miles. That’s a value of 1.4 cents per Rewards mile and certainly might be worth considering. It is unclear as to how an account becomes targeted for this capability.
Note that you will not find the Special Hotel Offers under the “gift cards” section. To find these offers, log in to your credit card account, click on your Rewards miles balance, and then choose “Get Special Hotel Offers”:
Capital One makes it very easy to combine Rewards miles among your own accounts. To combine Rewards miles within your own accounts (for example, to move Rewards miles from your Venture One card to your Spark Miles card), simply open the card account from which you wish to move the miles, click on your Rewards miles balance, choose “Share Rewards” and then “One of my accounts”. This should give you a drop-down menu where you can choose the account you want to send your Rewards miles to. You can then enter the exact amount you wish to transfer. There is no minimum. The maximum is simply your current available Rewards miles balance.
After you click “Use My Miles”, you can “Share Rewards” with one of your eligible accounts.
Combining miles from the Capital One Venture One to the Capital One Venture was instant and easy.
Capital One very generously allows people to transfer Rewards miles to anyone else, for free. There are no minimums and no limits as to the number of Rewards miles you can transfer to another cardholder.
Unfortunately, this can not be done online at the time of writing. You’ll need to call the number on the back of your card and provide the agent with the name and card number of the person to whom you would like to transfer your Rewards miles. Keep in mind that the recipient will need to have a Capital One Rewards Miles-earning card to receive your miles.
Why this is valuable:
- If a friend has airline elite status with one of Capital One’s transfer partners with which you want to book an award, you may be better off transferring points to your friend who can then transfer the points to the airline partner and book the award for you (to get free award changes, for example).
- Your spouse/sibling/parent/neighbor/cousin/friend is a few thousand miles short of having enough for a business or first class ticket when transferred to a partner. This makes it easy to top up and/or to combine if that person has other transferable points to put together the award you want. Or maybe you’re redeeming points for several travelers and you would rather have them all on one PNR rather than booking multiple tickets out of separate accounts. It’s easy to combine.
Capital One Rewards Miles do not expire as long as your account is open and in good standing. If you cancel an account with a Rewards miles balance, you will forfeit those rewards. For this reason, you’ll want to transfer to an airline partner or another Capital One miles-earning card via the methods above before canceling an account.
When you sign up for the Travel Freely, you’ll gain access to our Step-by-Step Guide to help you get started. If you’re already an experienced points and miles enthusiast, Travel Freely is made to replace your spreadsheet with the ultimate card management tool. Get email reminders for product changes, annual fee deadlines, minimum spend deadlines, and credit management.
Note: This article was inspired by Frequent Miler – any content used with permission.