Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure

Guide to Capital One Rewards program

Transfer miles to one of Capital One’s 16 airline partners.

The Capital One Rewards program is known for being user-friendly with several solid card options. And now the program is even better as it recently greatly refined its travel partners and transfer ratios. All this makes Capital One a well-rounded rewards program worth a serious look.

Why should you sign up for Capital One rewards?

Capital One strikes a great balance between simplicity and flexibility. Most points are worth one cent each when redeemed through the Capital One program itself (with cash back proving the exception at 0.5 cents per point). Redemption options are also incredibly forgiving. For example, you can “erase” travel purchases up to 90 days after the fact with your points.

However, if you want to do the additional legwork, you can also transfer your points to travel partners for potentially bigger value.

How much are Capital One miles worth?

Capital One miles and points are worth one cent each. Like several other credit card rewards programs, miles and points are essentially identical. What your points are named depends on the card you’re using to earn them.

Capital One cards that earn Capital One rewards

Here are the cards that can help you earn Capital One rewards, with most falling into one of three categories: travel, rewards or cashback.

Of special note is the Capital One Venture Rewards Credit Card, which offers a bevy of travel perks, including an excellent 2% rewards earning rate.

Name Product Welcome Offer Rewards Annual fee Filter values
Capital One Venture X Rewards Credit Card
100,000 miles after you spend $10,000 in your first 6 months of account opening
10x miles on hotel and rental car purchases booked through Capital One Travel, 5x miles on flights booked through Capital One Travel, and 2x miles on every other purchase

$395
Capital One Venture Rewards Credit Card
Enjoy a one-time bonus of 60,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $600 in travel
Earn unlimited 2x miles on every purchase, every day
$95
Earn 60,000 bonus miles once you spend $3,000 on purchases within the first 3 months ​from account opening
Capital One VentureOne Rewards Credit Card
Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel
Earn unlimited 1.25x miles on every purchase, every day. Earn 5X miles on hotels and rental cars booked through Capital One Travel.
$0
Earn 20,000 bonus miles once you spend $500 on purchases within the first 3 months from account opening.
loading

Compare up to 4 providers

Card transfer capabilities

Note that you can only transfer points to airline partners with select Capital One credit cards. At the time of this writing, that list includes the Capital One Venture Rewards Credit Card, Capital One VentureOne Rewards Credit Card, Capital One Spark Miles for Business and Capital One Spark Miles Select for Business credit cards.

Capital One redemption options

You have a handful of options for redeeming your Capital One points and some are a better use of your points than others. Here are your options as well as roughly how much they’re worth.

Transfer points to travel partners

Capital One offers 16 travel partners that support point transfers and as of October 2021, there are no domestic airline carriers available. Compared to Amex and Chase, who provide several domestic airline transfer opportunities such as Southwest Airlines and United, Capital One’s offerings could make finding a flight a little trickier, especially if you’re used to sticking with a single domestic airline. However, Capital One has greatly improved the transfer ratios on most transfer partners, with most now allowing 1:1 ratios. This greatly increases the value of point transfers and helps put Capital One on the same standing as similar programs from Chase and Amex.

Travel partnerTransfer point ratio
Aeromexico Club Premier1:1
Air Canada Aeroplan1:1
Air France (Flying Blue)1:1
Accor Live Limitless2:1
Avianca LifeMiles1:1
British Airways Avios1:1
Cathay Pacific Asia Miles1:1
Emirates Skywards1:1
Etihad Guest1:1
EVA Infinity MileageLands2:1.5
Finnair Plus1:1
Qantas Frequent Flyer1:1
Singapore KrisFlyer1:1
TAP Air Portugal Miles&Go1:1
Turkish Airlines Miles&Smiles1:1
Wyndham Rewards1:1

Capital One Rewards gift cards

Gift cards are among the several redemption options for Capital One points. Points redeemed this way are worth 1 cent per point, making them comparable to points used for travel erasures. Gift cards still have less pure value than point transfers, however.

Redeeming for cash back

As of this writing, redeeming your Capital One Rewards on cash back is the least effective use of your points or miles. That’s because points used this way are worth just 0.5 cents each. Your other options, including gift cards and travel erasures, are worth 1 cent per point.

Capital One redemption values at a glance

Here’s a quick side-by-side glance at how your redemption options stack up in value.

Redemption optionPoints/MilesCash value
Travel erasure10,000$100
Gift cards10,000$100
Mile transfers10,000Variable, but often greater than $100
Cash back10,000$50

Bottom line

With strong card options such as the Capital One Venture Rewards Credit Card, Capital One rewards is a worthy rewards program that you’ll find especially appealing if you enjoy simplicity but like having additional options when you want to branch out.

If Capital One doesn’t offer a card that hits the mark for you, you can compare rewards cards to find a program that best suits your spending habits and redemption preferences.

Frequently asked questions

More guides on Finder

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site