How To Redeem Capital One Venture Miles For Maximum Value

Use the Capital One Venture to travel the world

We receive compensation from our advertising partners for links on the blog. Here’s our full Advertiser Policy.

The Capital One Venture Card is a fairly well-known option among travelers. It doesn’t earn the same point values per dollar as transferable points like with the popular Chase Sapphire Preferred, but it’s still a valuable mile redemption program. It also has a competitive welcome bonus and other perks. But naturally, you want to get the most out of the miles you do earn. Here’s how to redeem Capital One Venture miles for maximum value.

Capital One Venture Credit Card: See more information here.

The Capital One Venture Card allows for flexible mile redemption.

Earning Capital One Venture Miles

Currently, the Capital One Venture card is offering a 50,000-mile bonus after sign-up if you spend $3,000 in the first three months. And since each mile equals 1 cent, that means $500 in travel rewards, right off the bat. After that, you earn 2 miles per dollar spent on all purchases across the board. Reward miles don’t expire for the life of your Capital One Venture card account.

Those miles are then easily redeemed for everything from past travel to gift cards, new bookings, to cash back. Plus, the Capital One Venture card’s annual fee of $95 is even waived the first year. You can also earn 10x miles on purchases on when you use your Capital One Venture card to foot the bill. And while there are many ways to redeem miles, there are certainly some that are more valuable than others.

Travel Eraser

The best way to get the most value out of your Capital One Venture miles is with the travel purchase eraser. You don’t have to use special booking sites or select from a limited pool of participating partner companies like with some branded airline or hotel credit cards. You just log into your Capital One Venture card account and go to your rewards page. There, you will find an option to redeem travel purchases.

There are many mile redemption options on the Capital One Venture Reward page.

When you select that option, a list of travel purchases made in the past 90 days will appear, along with the miles required to erase the purchase. You can select which ones you’d like to erase in part or in full and with a few clicks, it was like the charge never existed. Because travel purchases remain eligible for redemption for so long, you have ample time to decide which purchases are worth erasing.

All redeemable travel purchases will show on the Capital One Venture Reward page.

Purchases made from airlines, hotels, trains, car rental agencies, limousine services, bus lines, cruise lines, taxi cabs, travel agents, and timeshares are generally considered to be travel purchases and available for redemption. Even Uber and Lyft charges make the list. You can book through a travel agent, your favorite booking portal or straight from an airline website, whatever you prefer, as long as you use your Capital One Venture card to foot the bill.

Capital One Venture Credit Card: See more information here.

Capital One Booking Portal

The Capital One Travel booking portal.

To pay directly with the miles you already have instead of with cash to redeem later, you can use Capital One Travel. On your My Rewards page, you can select Book a Trip and you’ll be directed to the Capital One Travel portal. Mile values when booking new travel remain the same (1 cent per mile), but this form of booking often prevents you from earning additional rewards on other accounts. Earning miles via two or more methods simultaneously is called double dipping.

Booking flights with Capital One’s booking portal is often a good option as there are no blackout dates or award restrictions and you can’t usually double dip with airlines. Hotels, however, can be a different story. Booking through, for example, will earn you 10x miles on purchases made to your Capital One Venture card. You can then erase those bookings via the purchase eraser, allowing you to earn miles as you redeem them.

Many other sites like Airbnb and Groupon also partner with frequent traveler programs that allow you to earn miles by booking through your favorite airline’s shopping portal. That means you can essentially earn double the miles (some with the airline, some with Capital One) for purchases and still erase them from your Capital One Venture card. It’s always worth checking if you can double dip before using the Capital One Travel booking site.

Gift Cards

There are many gift cards available for redemption with Capital One Venture miles.

If you simply must use your miles for something other than travel, gift cards are an acceptable alternative. You’ll still get the same 1 cent per mile value and can redeem as few as 1,000 miles for a $10 gift card. Amazon, movie theaters, restaurants and more are just a few of the options available. There are often other ways to get deals on gift cards, though, including double-dipping by purchasing one on sale with a credit card then using it through a frequent traveler shopping portal.

Mile Transfers

Can’t use your miles or want to surprise someone with the extra miles they need to book their own travel? If you would prefer to gift your Capital One Venture miles to someone else with a Capital One Venture account, it’s free to do so. Miles will transfer on a 1:1 basis, so gift away. Friends or family members will thank you.

Cash Back

Cashback is a reward option with the Capital One Venture card, but not the best one.

Cashback should be your last option when redeeming Capital One Venture miles. You can get cash back in the form of account credit or a check in the mail, but you’ll only get half the value of any other option. That’s only half a cent per dollar, making it the least valuable way to redeem your miles.

Bottom Line

Capital One makes it easy to earn and redeem miles with the Venture card. It offers maximum flexibility with minimum complications. Being able to spend normally and then decide what purchases to erase is a key feature of the Capital One Venture card. It might be one of the least-complicated cards out there. Add to that the varied redemption options and good point value for all purchases across the board and it’s a pretty solid choice.

For those seeking an easy-to-use card that doesn’t require dedicated booking portals or constantly fluctuating point-earning values, the Capital One Venture card should be high on your list of travel cards to consider.

Capital One Venture Credit Card: See more information here.

Related Posts: 

Chase Sapphire Preferred vs. Capital One Venture

TSA Precheck Credit with Capital One Venture

VentureOne vs Capital One Venture

Credit Score Needed for Capital One Venture

The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

How To Redeem Capital One Venture Miles For Maximum Value
5 (100%) 2 votes