Capital One Venture Rewards Program: Your Complete Guide
The Capital One Venture Rewards program gives travelers flexibility they can’t get with airline or hotel loyalty programs. While it doesn’t offer as much value as some other general travel rewards programs, it’s still a solid option for people who prefer simplicity and versatility. Our guide will explore how the program works and how you can redeem the miles you earn.
What Is the Capital One Venture Rewards Program?
The Capital One Venture Rewards program offers rewards in the form of miles, but they’re not like frequent flyer miles that have the most value when you redeem them for award flights. Rather, you can use your Venture miles to cover just about any travel-related expense or redeem them for statement credits, gift cards, and other options.
Anyone who has an eligible credit card can join, and Capital One will open your rewards account as soon as it approves you for a Venture credit card.
Credit Cards That Offer Venture Rewards
There are two cards that offer Venture miles:
Also, some older discontinued Capital One credit cards may offer rewards in the program, but they aren’t available for new sign-ups.
Gives you a lot of flexibility in how to redeem miles for travel
Offers the chance to transfer miles to select travel partners
Values all travel-related redemptions at a flat 1 cent per mile
Travel partner transfer ratios aren’t great compared with other travel rewards programs
Cash redemptions give you half the value of travel redemptions
How to Earn Capital One Venture Miles
The only way to earn Venture miles is by using one of the credit cards in the travel rewards program. Here’s a quick breakdown of your options:
1. Earn a Bonus for New Cardholders
Both the Capital One Venture Card and the Capital One VentureOne Card offer a one-time welcome bonus if you meet a certain spending requirement.
Capital One makes the bonuses prominent, so you’ll see them when you go to the Venture or VentureOne pages to apply. There are two factors essential to the bonus: the spending threshold and a deadline for hitting the threshold (usually three months). Once you hit the spending requirement, Capital One will deposit the bonus in your rewards account within two billing cycles.
These bonuses can be helpful if you have a trip coming up and you want to cover some or all of your travel-specific expenses. It’s important to keep in mind, though, that if you’re an existing or previous holder of either card, you may not qualify for this welcome bonus.
2. Use Capital One Cards for Purchases
Both Venture cards offer a flat rewards rate on most of your purchases. You’ll also get bonus rewards on select purchases made through Capital One Travel.
Additionally, the cards sometimes offer promotional rewards rates on certain purchases. For example, in the past, cardholders could earn bonus miles on hotels booked through Hotels.com when using their Venture card.
To maximize your rewards with either card, try to use it as much as possible without spending more than you can afford to pay off every month. Also, keep an eye out for any promotions the program runs for bonus purchases so you can plan your spending accordingly.
|Credit Card||Annual Fee||Rewards Earning Rate|
|Capital One Venture Card||$95||5 miles per dollar on hotels and rental cars booked through Capital One Travel; 5 miles per dollar on Uber Eats orders through Jan. 31, 2021; 2 miles per dollar on all other purchases|
|Capital One VentureOne Card||$0||5 miles per dollar on hotels and rental cars booked through Capital One Travel; 5 miles per dollar on Uber Eats orders through Jan. 31, 2021; 1.25 miles per dollar on all other purchases|
Do Capital One Venture Miles Expire?
Capital One Venture Miles do not expire. However, you will lose any unused points you have if you close your account.
What Are Capital One Venture Miles Worth?
Capital One offers a few different redemption options, and the value of your miles can vary based on which one you choose.
For travel redemptions through Capital One’s booking system, for instance, each mile is worth 1 cent. Other redemption options include:
- Gift cards: 0.8 to 1 cent per mile
- Amazon.com: 0.8 cents per mile
- Statement credit or paper check: 0.5 cents per mile
- Transfer miles to travel partners: Varies. 1.07 cents per mile on average for JetBlue, the only major U.S. airline; 0.79 cents on average for Wyndham, the only hotel transfer partner.
The Balance values Venture Miles at an average of 0.95 cents each, which is based on the value of using the travel portal and the average value of transferring to JetBlue or Wyndham.
Transfer Points to Travel Partners
With some general rewards programs, you’ll get the most value out of your points or miles by transferring them to travel partners.
With the Capital One Venture Rewards program, though, transferring your miles to travel partners isn’t always the best choice. Whereas competing travel programs like Chase Ultimate Rewards have 1:1 transfer ratios to travel partners like United, Southwest, and Hyatt; many of Capital One’s transfer ratios are at least 4:3, and this reduces the points’ value.
For example, The Balance values JetBlue points at 1.43 cents each, but you only get 750 points for every 1,000 Venture miles you transfer, giving you an average value of 1.07 cents per mile.
You can transfer miles to Wyndham Rewards at the same 4:3 rate, giving you 0.79 cents per mile in value based on an average value of 1.05 cents per Wyndham point.
Note, however, that JetBlue is Capital One’s only domestic airline partner, which restricts your options unless you’re flying internationally. Also, the program has no other hotel rewards partners beyond Wyndham.
Transfers start at 1,000 Venture miles for 500 or 750 miles, and you can submit your request through your online account.
Finally, it’s important to keep in mind that you can’t reverse a transfer request once you’ve made it. So make sure it’s the right move before you submit your request. There’s no limit to how many miles you can transfer.
|Airline Travel Partners||Hotel Travel Partners||Lifestyle Travel Partners|
|Aeromexico Club Premier||Wyndham Rewards||Accor Live Limitless|
|Air Canada Aeroplan|
|Air France KLM Flying Blue|
|Etihad Airways Etihad Guest|
|EVA Air Infinity MileageLands|
|Qantas Frequent Flyer|
|Singapore Airlines KrisFlyer|
Book Travel Through Capital One
Capital One has a travel portal where you can use your miles to book flights, hotels, and rental cars. The platform functions similarly to discount travel websites like Expedia and Orbitz; it’s an entirely online process.
In the case that you don’t have enough miles to cover the full reservation, Capital One allows you to combine your miles with cash. There are no blackout dates because you’re not using airline, hotel, or rental car awards to book. This means you’ll get a lot more flexibility than you would with co-branded airline or hotel credit cards.
Redeem for a Statement Credit
If you want even more flexibility with your travel rewards, you can use the program’s Purchase Eraser tool. With this option, you can book your travel through any travel website, travel agent, or other travel resource with your Venture credit card. Then, you’ll have 90 days from the date the transaction posts to log in to your account and request a statement credit for some or all of the purchase amount. The redemption rate is 1 cent per point.
The Travel Purchase Eraser option is great because it allows you to book directly with the airline, hotel, or rental car company, and it also makes it possible to use your rewards on other eligible travel expenses.
You can also use your Capital One Venture miles to get a statement credit for other non-travel expenses. That said, you’ll get just half the value—0.5 cents per mile—with this option.
Redeem for Cash Back
If you want to redeem your miles for a paper check instead of a statement credit, you can use your miles to request one at a rate of 0.5 cents per mile. The minimum redemption amount is 2 miles, which gives you 1 cent.
Statement credits typically occur within two to three business days, but paper checks can take up to three weeks to arrive.
It’s important to keep in mind, though, that you can get better cash-back redemption rates elsewhere without sacrificing travel rewards value. The Chase Ultimate Rewards program is one example of a travel program that offers 1 cent per point on cash-back redemptions plus higher redemption rates on travel and transfer partners with some cards.
Other Ways to Use Venture Miles
There are a few other ways you can use Capital One Venture miles:
- Redeem miles for gift cards (miles are worth between 0.8 cents and 1 cent each).
- Shop with points on Amazon.com (points are worth 0.8 cents apiece).
- Pool your miles with another Venture Rewards account, whether yours or someone else’s. Keep in mind, though, that you have to call to transfer to someone else’s account.
In most cases, you’ll get more value by using your miles to cover travel expenses, so it’s best to avoid these other options if you want to maximize the value of your rewards.
The Bottom Line
The Capital One Venture Rewards program offers a lot of simplicity and flexibility, making it a decent rewards program for people who are just starting out with earning travel rewards or simply want a straightforward rewards program.
For the most flexibility, use your miles to book travel, either directly through Capital One or as a statement credit for travel purchases made with your card. That said, with the right strategy, you could potentially get more value by transferring your miles to one of Capital One’s partners and maximizing your rewards through that program.