Capital One launches vacation rentals: Earn 5 miles per dollar plus a $50-$100 experience credit

Hotels can be great — especially when you snag a great deal on points and can get perks like free breakfast thanks to your status with the brand.

But sometimes you're traveling with your family or a group of friends, and a hotel just doesn't cut it — you need a vacation rental.

Now, Capital One is giving eligible cardholders the option to earn bonus miles and enjoy premium benefits during those times. After joining the hotel program space in 2023 with its Premier and Lifestyle collections, Capital One has announced that it's adding vacation rentals to both collections.

More than 2,500 properties are available in over 50 destinations, including Sonoma, California; Hilton Head, South Carolina; Aspen, Colorado and Costa Rica; it has plans to expand to more domestic and international locations.

Capital One Venture X Rewards Credit Card and Capital One Venture X Business cardholders can access both the Premier and Lifestyle collections, while Capital One Venture Rewards Credit Card and Capital One Spark Miles for Business cardholders can only access the Lifestyle Collection.

Here's everything you need to know about these vacation rentals and whether they're worth booking.

Capital One vacation rental benefits

Eligible cardholders will earn 5 Capital One miles per dollar on vacation rentals in the Capital One Premier and Lifestyle collections. Cardholders can also redeem Capital One miles for bookings with these properties at a rate of 1 cent per mile.

Additionally, you'll enjoy these benefits:

• Experience credits: You'll get an experience credit ($100 for Premier Collection stays, $50 for Lifestyle Collection stays) for amenities like in-home chef meals, prearrival groceries and mid-stay property cleanings. The specific experiences covered will vary based on the property you book.
• Destination experts and support: All vacation rental properties in these collections are professionally managed and offer local expertise and property support.
• Other benefits: You'll also enjoy perks like complimentary Wi-Fi as well as early check-in and late checkout when available.

Daily Newsletter

Reward your inbox with the TPG Daily newsletter

Join over 700,000 readers for breaking news, in-depth guides and exclusive deals from TPG’s experts

Email address

Sign up

By signing up, you will receive newsletters and promotional content and agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.

The experience credit has the potential to be the most exciting benefit on this list. For hotels, these typically include a credit toward the hotel restaurant or spa. So, the option to get credit toward things you want more when traveling with a group, like groceries and cleaning services, is a huge plus.

When meeting friends at a vacation rental after work on a Friday, the last thing I want to do is have to stop for groceries on my way. The option to have them delivered ahead of time would mean I can get to my destination (and weekend plans) even sooner, adding serious value to my stay.

How to book Capital One vacation rentals

To book, go to Capital One Travel or Capital One Business Travel (for Venture X Business) and choose "Premium Stays" (not "Hotels") and then "Vacation rentals." Enter your destination, dates and number of guests.

You can filter by amenities.

You'll see a list of available options with pricing information and standout benefits of each property.

Then, select a property and complete your booking.

If you're a Venture X or Venture X Business cardholder and have any of your $300 annual travel credit available, you'll see the option to apply some or all of your credit toward your booking.

Once you've booked, you can focus on planning the rest of your group getaway.

Is booking a Capital One vacation rental worth it?

If you regularly travel with family or a group, booking a vacation rental in the Premier or Lifestyle Collection can be a great way to earn 5 Capital One miles per dollar on your booking; this gets you a 9.25% return according to our valuation of 1.85 cents per mile.

Booking through one of these collections also allows you to take advantage of the premium benefits you usually sacrifice when opting for a vacation rental, such as an experience credit and early check-in or late checkout. Plus, Venture X and Venture X Business cardholders can apply their $300 travel credit to these bookings.

If you're a Venture X or Venture X Business cardholder and booked the above dates for three nights at the Austin Melody by AvantStay, your cost would be $1,601. You would earn 5 miles per dollar on your booking, for a total of 8,005 miles, which we value at $148. You would also get a $50 experience credit and could apply your $300 annual travel credit to the booking, bringing your net cost down to just $1,103. This is a 31% saving — an impressive value for a long weekend in Austin for up to eight people.

Conversely, you'll get mediocre value from your Capital One miles if you redeem them to book a vacation rental in one of these collections. You'll get 1 cent per mile, the same value you'll get when you redeem them for a statement credit to cover general travel expenses (and well below our valuation of 1.85 cents per mile). As such, you'll want to compare the prices of these vacation rentals against other booking sites.

Still, when comparing options, keep in mind the value of the bonus points and additional benefits you'll get by booking through the Premier or Lifestyle Collection.

Related: How to maximize points and miles on vacation rentals

Bottom line

Capital One has added vacation rentals to its Premier and Lifestyle Collections. When you book one of these properties, you'll get benefits like an experience credit and late checkout, as well as elevated earning rates. Still, you'll want to compare the prices of these rentals to ones available on other sites to ensure you're getting the most value available.

Related: The best credit cards for Airbnb stays