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 introduced several airline transfer partners. 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.
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.
Right now, Capital One offers 15 travel partners that support point transfers. Of these partners, only one is domestic to the US: JetBlue. 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.
Transfer point ratio
Aeromexico Club Premier
Air Canada Aeroplan
Air France (Flying Blue)
Cathay Pacific Asia Miles
EVA Infinity MileageLands
Hainan Fortune Wings Club
Qantas Frequent Flyer
Qatar Airways Privilege Club
You’ll notice that most points transfer at a 2 to 1.5 ratio as well. While fairly good, this is a slightly lower ratio than Chase and Amex transfer ratios.
Capital One Rewards gift cards
You can also redeem your Capital One points on gift cards. 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.
Variable, but often greater than $100
How to navigate your account
When you’re ready to redeem your rewards, sign in and click View rewards to see an overview of your available points or miles.
From the rewards landing page, you have the option to reimburse purchases or transfer your rewards. You can also click See all options to explore other choices for redemption.
If you choose to use your rewards for a travel purchase, a pop up will appear showing which purchases on your account are eligible for reimbursement.
You can also transfer rewards to one of Capital One’s partnered programs.
Other options for redemption include booking a trip through Capital One travel, getting gift cards or transferring your rewards to another Capital One account.
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.
Yes. You can transfer Capital One miles or points to another account so long as the new account is one that can earn miles or points.
No. Your points will last indefinitely while your account is open.
Miles redeem at one cent per mile when booked through Capital One’s travel portal or redeemed as travel statement credit. This means you’ll need 100 times the miles as the cost of the flight. If a flight costs $500, you’ll need 50,000 miles to cover the cost.
Steven Dashiell is a writer at Finder specializing in all things credit cards. With more than 300 articles under his belt, he aims to help readers embrace credit cards and maximize their rewards. Steve is studying to become a Certified Educator in Personal Finance, and is a frequent face on Finder’s YouTube channel, offering the latest in credit card hacks and advice. His expertise has been featured on numerous outlets, including U.S. News & World Report, Time, CBS, Fox Business, Lifehacker, Martha Stewart Living and more.
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