How Much Are Capital One Rewards Miles Worth?

Capital One runs a rewards program for travelers, giving them the ability to earn miles based on their spending. You can redeem those miles directly with Capital One, or you can transfer them to one of the card issuer’s partner loyalty programs — which often gives you better value.

One Capital One rewards mile across most redemption methods is typically worth between 0.5 cents to 1 cent. For example, if you use your miles through Capital One Travel, you get 1 cent per point. However, you may be able to get a higher per-point value than 1 cent through some partner airlines. If you redeem your miles as cash back, the value drops to 0.5 cents per point.

Those who hold both a cash back card with Capital One and a Capital One Venture card can further augment their earning power: they can transfer the cash back they earn to the Capital One Venture card and then transfer those miles to an airline partner.

• How Much Are Capital One Rewards Miles Worth?
• How Capital One Rewards Miles Compare to Other Credit Cards
• How to Earn More Miles From Capital One
• About Capital One Rewards
• Other Questions You May Have About Capital One Rewards Miles

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Depending on your redemption method, you generally get 0.5 cents to 1 cent per Capital One mile. Your miles are usually worth the most if you transfer them to some of the program’s partner airlines. Redeeming your miles for cash back comes with the poorest value. Since there is no official Capital One rewards redemption chart to turn to, it’s best to look at the value you stand to receive through different methods ahead of time.

Looking at how much Capital One Rewards miles are worth compared to the value of miles/points earned through other credit card rewards programs, you’ll notice that the value you receive is about average. Nevertheless, it's important to keep in mind that no matter which rewards program you’re part of, the value of your miles/points typically varies based on the redemption method.

When redeeming Capital One miles for cash back, you get a value of 0.5 cents per mile. This is the lowest value you’ll receive for your miles.

If you're wondering how to redeem Capital One rewards miles for cash back, you need to log in to your Capital One account and head to the Rewards page. Once there, select the Redeem for Cash option. While you can choose to get a statement credit, you may also opt for a check. Statement credits typically process in two to three business days, and a check might take two to three weeks to get to you.

You can use the miles you earn through the Capital One rewards program to purchase gift cards for yourself or others. Popular merchants include iTunes, Best Buy and Barnes & Noble. Depending on the merchant you select, you can expect to get a value of 0.5 cents to 1 cent per mile. Other credit card reward programs also offer similar value through this redemption method.

If you're wondering how to use Capital One rewards miles for gift cards, you need to begin by logging in to your Capital One account. Under the Rewards section, select Get Gift Cards. Then, browse through the gift cards on offer and choose the ones you want. Bear in mind that you need at least 2,500 miles to use this redemption method.

One of the key Capital One rewards benefits is that you can use your miles to pay for travel purchases in different ways. If you redeem them through the Capital One Travel portal or use them to cover recent travel purchases, you get a value of 1 cent per mile, which is on par with what you can expect through other popular credit card rewards programs.

When it comes to how to redeem Capital One rewards miles for travel without transferring them to a partner airline or hotel, you have two options. To redeem them for eligible travel purchases, you need to log in to your Capital One account and select the Cover Travel Purchases option. If you wish to use your miles to make travel bookings, you need to use the Capital One Travel portal.

Although their actual worth varies, you stand to get the best value for your miles through Capital One rewards transfer partners. With airline transfer partners, you should be able to get at least 2 cents per mile. Hotel transfer partners often provide lower value for your miles. However, you may get even better value in a few scenarios, such as international business or first-class flights or five-star hotels. Capital One offers around the value you can expect when transferring miles/points through other credit card rewards programs.

Using Capital One rewards miles with transfer partners is pretty straightforward. Once you log in to your Capital One account, you need to head to the Rewards section and choose Convert Rewards. Then, select the desired transfer partner and link your loyalty program account with your Capital One rewards account if you haven’t done it yet. Remember that you need to transfer at least 1,000 miles.

Using your Capital One miles to shop online is easy, and you can usually expect to get a value of 0.8 cents to 1 cent per mile. This is on par with the value you receive through rewards programs run by other leading credit card issuers that let you use your points/miles to make purchases.

You may use your Capital One miles to make purchases at Amazon.com and when checking out via PayPal. If you wish to use your miles with Amazon.com, you need to add your eligible Capital One credit card to your Shop with Points account. Then when checking out, select the Capital One rewards option. Using your miles with PayPal requires that you follow a similar process.

One easy way to earn a significant number of Capital One miles is by applying for a new Capital One travel credit card and meeting its spend-based requirement for earning a welcome bonus. For example, you get a bonus of 75,000 miles if you spend $4,000 on purchases within the first three months with the Venture Rewards Card or Venture X Rewards Card. If you get the VentureOne Rewards Card for excellent credit, spending $500 on purchases within the first three months comes with a bonus of 20,000 miles.

If you have the Venture X Card, you earn a referral bonus of 25,000 miles upon the approval of a card for someone you’ve referred, up to 100,000 miles a year (four referrals).

Some of the Capital One credit cards not linked to its mileage program that still offer good value include the SavorOne Rewards Card, the Quicksilver Rewards Card and the Quicksilver Secured Rewards Card. Students may benefit by looking at what the Quicksilver Rewards for Students Card has to offer. None of these cards charge an annual fee.

There are no partner merchants linked to the Capital One membership rewards program through which you may earn bonus miles. However, depending on your card and spending habits, you may earn miles faster through category-based spending. For example, if you use the Venture X Card to make hotel or rental car bookings through Capital One Travel, you get 10X miles per dollar. Using the same platform to book flight tickets comes with 5X miles per dollar.

If you wish to earn higher-than-usual rewards on dining, entertainment and grocery store purchases, consider looking at what the Savor Rewards card and the SavorOne Rewards card have to offer.

Adding authorized users to your primary Capital One travel card allows you to accumulate miles faster. However, bear in mind that you'll be liable for all the transactions made using authorized cards.

You cannot purchase miles through the Capital One rewards program. You need to earn them by using Capital One credit cards.

The Capital One rewards program includes travel credit cards that offer miles as well as cash back credit cards. While it’s possible to transfer Capital One rewards miles to various airline and hotel loyalty programs, this is not the case with the cash back you earn through a Capital One cash back card.

One of the benefits of Capital One rewards is that you may earn spending bonuses on different cards in quick succession. While Capital One states that previous or existing cardholders might not be eligible for any given card’s one-time bonus, Capital One’s policy may be more lenient in practice. While it’s not guaranteed, you might be able to earn a welcome bonus by applying for the same card again.

One drawback with the Capital One membership program for its travel cardholders is that it does not let you buy miles when you fall a little short. In addition, most popular credit card rewards programs allow you to earn bonus points/miles through partner merchants, but this is not the case with the Capital One rewards program.

MoneyGeek experts have taken a close look at how the value of Capital One Rewards miles changes based on different redemption methods. They have also carried out in-depth market research to determine the worth of your miles.

Going through other commonly asked questions about the Capital One rewards program and the value of Capital One rewards miles might help you decide how best to redeem your miles.