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The Capital One Venture Rewards Credit Card is among the best fixed-value points credit cards. We like its simple rewards structure — you earn double miles on all purchases and can redeem them at a locked value of 1 cent apiece toward travel and gift cards. The card became even more appealing when Capital One announced that it, along with the Capital One VentureOne Rewards Credit Card, would begin earning 10x miles on purchases made at Hotels.com — by far the highest credit card bonus for booking hotels.
So how exactly do you go about making redemptions with the card? The process is relatively easy, and unlike transferring points, doesn’t require jumping through any hoops. Here’s a step-by-step guide showing how to use your Venture miles.
Once signed in to your Capital One account, you’ll want to click on your mileage balance (located below the icon of your card) to be taken to the rewards page. There, you’ll be presented with four redemption options — you can use your miles for travel, gift cards, cash or transfer them to another account.
When it comes to redeeming miles for travel, you can either book new travel or use the miles as a statement credit against previous eligible travel purchases. Regardless of which route you take, the redemption rate when using Venture miles for travel is always 1 cent per point.
Option 1: Erase a Previously Made Travel Purchase
Clicking “Redeem Travel Purchases” will bring you to a screen with all your eligible travel purchases made with the card in the last 90 days. The term “travel” is used quite broadly and includes everything from flight and hotel bookings to Uber and Airbnb purchases. From there, you’re just two clicks away from essentially erasing travel expenses from your statement.
After selecting the purchase you’d like to make disappear, you can either approve the redemption outright or edit the number of miles used for a partial credit of the charge. Note that there’s no minimum redemption amount, unless you’re redeeming for a partial credit, in which case you’ll need to use at least 2,500 miles.
Option 2: Book New Travel Through Capital One
Alternatively, you can use your miles to book new travel directly through Capital One. The portal looks like any other booking site, and since the miles have a fixed value, you’ll never need to worry about blackout dates or award restrictions. That being said, you’ll probably be better off booking your travel using an online travel agency (OTA) like Orbitz or Hotels.com and then offsetting the purchase using the method previously described. This is because many OTAs have their own rewards programs and appear on cash-back shopping portals, so you can double- or triple-dip on a booking and get even more cash back. However, you won’t be able to earn 10x miles on Hotels.com bookings with a Venture card if you go through a shopping portal, since you need to book directly and pay through the Hotels.com/venture link to be eligible for the 10x earnings.
Option 3: Redeem for Gift Cards
Miles maintain the same fixed value of 1 cent apiece when redeeming for gift cards, such as for Amazon. However, gift cards can often be bought with a discount or cash back, so you’re better off using your miles to offset travel expenses first.
Option 4: Redeem for Cash Back
The least valuable redemption option is for cash in the form of an account credit or a check by mail. You’d probably want to avoid this option because the value of the miles is cut in half when using this method.
Option 5: Transfer Miles to Another Account
The final way you can redeem your miles is by transferring your miles to another account. There are no costs associated with this, and as long as the other person holds a Venture miles-earning card, there are no restrictions as to who you can send them to.
Redeeming Venture miles is very simple — even beginners to the award travel game won’t have any trouble doing so. With the new 10x Hotels.com bonus, now’s a great time to get yourself one of the Venture Rewards cards if you don’t already have one in your wallet. The Capital One Venture Rewards card currently comes with a sign-up bonus of 50,000 miles after you spend $3,000 in purchases within the first 3 months of opening, so as long as you meet the minimum spend, you’re guaranteed $500 in travel or gift cards.
New! Earn unlimited 10x miles on hotel stays booked and paid through hotels.com/venture. Pair that with the Hotels.com Rewards program and you'll essentially be getting 20% off of hotel bookings! With the 50,000 mile sign-up bonus you'll be getting the equivalent of $500 and you'll have the flexibility to redeem those miles on any purchase for airfare, hotel stays, car rentals and more.
- Enjoy a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel
- Earn 2X miles on every purchase, every day. Plus earn 10X miles on thousands of hotels; learn more at hotels.com/venture
- Receive up to $100 application fee credit for Global Entry or TSA Pre✓®
- Fly any airline, stay at any hotel, anytime
- Travel when you want with no blackout dates
- Miles won't expire for the life of the account and there's no limit to how many you can earn
- No foreign transaction fees
- $0 intro annual fee for the first year; $95 after that