The Capital One Rewards Miles program includes four different credit cards through which you can earn and spend rewards points. Two of the cards, the Capital One Venture Rewards Credit Card and the Capital One VentureOne Rewards Credit Card, are intended for personal use. The other two are intended for business: Capital One Spark Miles for Business and Capital One Spark Miles Select for Business.

All four of Capital One’s travel rewards cards use the same rewards interface and structure to book and redeem points. The differences between the cards are mainly the rate at which you earn points, any annual fees, and the sign-up bonuses associated with the card.

In This Article:

How to Earn Capital One Rewards Miles

Capital One Venture Rewards Credit Card

  • Earn 2X unlimited miles on all purchases
  • Get 50,000 bonus miles after spending $3,000 in the first 90 days
  • Receive a $100 statement credit toward your Global Entry or TSA Pre fee
  • $0 annual fee for the first year, $95 after that

Capital One VentureOne Rewards Credit Card

  • Earn 1.25 miles per dollar on every purchase 
  • Receive 20,000 bonus miles after spending $1,000 within first three months

Capital One Spark Miles for Business

  • Earn 2X unlimited miles on all purchases
  • Get 150,000 bonus miles after spending $50,000 in the first six months
  • $0 annual fee for the first year, $95 after that

Capital One Spark Miles Select for Business

  • Earn 1.5X unlimited miles on all purchases
  • Get 20,000 bonus miles after spending $3,000 in the first 90 days
  • No annual fee

What Can You Redeem Capital One Rewards For?

Your Capital One points can be redeemed for a few different types of rewards:

  • Travel: Book travel directly through the Capital One Rewards Center or get reimbursed through Purchase Eraser to use your points for travel.
  • Partner transfer: Your points can be transferred to one of Capital One’s 15 travel partners at varying rates.
  • Other rewards: Redeem points for cash back or other rewards if you wish. The transfer rates vary based on the type of reward.

With the Capital One Rewards system, 100 points are equal to $1. This means that to calculate how many points you need to book travel, you can simply multiply the cost of travel by 100. For example, if you find a flight for $340, you will need 34,000 points to reserve it. Taxes and fees are also calculated in this way and must be covered by your points balance.

How to Redeem Capital One Rewards Miles

There are two ways to redeem Capital One rewards miles, and it’s important to understand the difference between the two. One is Purchase Eraser, a feature which allows you to book travel through any website or agent, and the other is the Capital One Rewards Center.

Purchase Eraser is a unique program available through Capital One. It lets you reserve travel through a travel agent or your favorite travel website, such as Google Flights or Expedia, and get a statement credit for all or part of your purchase. All you need to do is call Capital One or go online within 90 days of purchase, and the balance will be applied to your account within three days.

The Capital One Rewards Center is your second option to book or redeem rewards miles. This is Capital One’s reservation program that allows you to book travel directly. Simply go online to capitalone.com or call the Rewards Center to use your points like cash to book travel.

Capital One Rewards Miles Transfer Partners

  • Aeromexico: 1,000 Capital One points are equal to 750 Premier Points.
  • Air France KLM: Get a 20% bonus when you transfer Capital One Rewards Miles to Flying Blue.
  • Air Canada: Two Capital One miles are equal to one Aeroplan mile.
  • Alitalia: Transfer 1,000 Capital One miles for 750 MilleMiglia miles. 
  • Asia Miles: Capital One and Asia Miles allow you to interchange points.
  • Avianca LifeMiles: Two Capital One miles are equal to 0.75 LifeMiles.
  • Emirates Skywards: Through this partnership, you can convert two Capital One miles to one Skywards mile.
  • Etihad Airways: The Etihad Guest program is a partner with Capital One Rewards.
  • EVA Air: Exchange two Capital One miles for 1.5 EVA Air miles.
  • Finnair: Capital One and Finnair are partners that allow you to redeem miles.
  • Hainan Airlines: Though the airline’s website doesn’t acknowledge it, Capital One’s points transfer system will allow you to redeem miles with Hainan Airlines.
  • JetBlue: Two Capital One Miles can be traded in for one TrueBlue mile.
  • Qantas: The transfer rate between Capital One and Qantas fluctuates between 2:1 and 2:1.5.
  • Qatar Airways: You can exchange 1,000 Capital One miles for 750 Privilege Club Qmiles.
  • Singapore Airlines: KrisFlyer accepts miles from Capital One, but it takes up to 15 days.

The Bottom Line

The Capital One Rewards Miles program is great for anyone who knows they want to use their credit card points exclusively for travel. Capital One has very flexible redemption options, allowing you to book travel just about anywhere at the same rewards rate. However, keep in mind that you’ll probably be penalized if you decide you want to use your points for any other purpose, such as to receive a statement credit.