You can now redeem Capital One miles for food delivery and streaming services

Apr 16, 2020

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Editor’s note: This post has been updated with new information provided by Capital One.

Capital One has added new ways for cardholders to redeem their Venture miles.

In light of people staying home and putting travel plans on hold until pandemic concerns subside, Capital One has added three new categories where you can redeem your miles at a fixed-value. Starting today, April 16, 2020, through June 30, 2020, you’ll also be able to use the Venture purchase eraser feature on takeout, delivery and streaming services. On the business credit cards front, Spark Miles cardholders will be able to use the business purchase eraser feature for takeout, delivery and phone services.

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I confirmed with Capital One that the redemption rate would be the same as for travel at 1 cent per point. 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 cardholders are able to use these new redemption categories. The only difference is that business cardholders will be able to redeem for phone services rather than streaming services.

The information for the Capital One Venture, VentureOne, Spark Miles and Spark Miles Select cards has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

(Photo by Hero Images/Getty Images)
With more people spending time watching streaming services, it’s great to see that as a potential redemption option for rewards. (Photo by Hero Images/Getty Images)

Eligible delivery services include DoorDash, Uber Eats, Postmates and more, and eligible streaming services include Netflix, Hulu, Spotify, Disney+, Kindle Unlimited and more (so, if you haven’t binged Tiger King because you don’t have Netflix, now is definitely time to jump on that bandwagon). You can also use your miles on takeout when you purchase directly with restaurants, cafes and fast food joints.

For Spark Miles and Spark Miles Select cardholders, you can redeem for delivery services, takeout and phone services. Eligible phone services include providers such as Verizon, AT&T, T-Mobile and more, and services such as mobile phone bills, payments and purchases. Internet, Wi-Fi and landline services won’t apply.

Related reading: Maximizing rewards points for non-travel redemptions 

Most of the time, travel credit cards provide subpar redemption rates for non-travel purchases. It’s good to see that Capital One is allowing the same fixed-rate redemption for these purchases as they do for travel using the purchase eraser feature.

How to redeem miles for food delivery, takeout or streaming services

This benefit is essentially just an extension of the existing purchase eraser feature. You’ll use your Capital One Venture or VentureOne credit card to make a purchase in one of the eligible categories. Once the transaction posts (within a few days, generally), you can then sign in to your rewards account and select “Cover Your Purchases.”

From there, you can redeem miles on eligible purchases made within the past 90 days just as you would for a travel purchase.

Related reading: How to redeem Capital One miles at a fixed value 

Keep in mind that the most potentially lucrative use of your Capital One miles will continue to be transferring to its hotel and airline partners when it makes sense. However, if you are hoping to save money in the short-term on things such as food delivery and streaming services, using the purchase eraser isn’t a bad redemption option.

Earn 5x on your next takeout or delivery purchase with your Chase credit card. (Photo by Getty Images)
Food delivery and takeout are among the new redemption options for your Venture and VentureOne credit cards. (Photo by Getty Images)

Related reading: 5 easy strategies to save money on food delivery and takeout

Bottom line

At TPG, we love to use points and miles to book incredible travel experiences. But with all of us staying home to help stop the spread of the novel coronavirus, cards that offer alternative redemption options are more valuable than ever.

Related reading: The best credit cards to use for food delivery services

“Capital One remains committed to offering our customers a variety of options for redeeming their rewards,” said a Capital One spokesperson. “We understand that our customers’ day-to-day lives have changed, so we’re continually looking at providing value in new and different ways.”

Many of us will continue to save up our travel rewards for future travel (such as a dream destination trip to Italy next year), but it’s great to see Capital One add options for those who want or need to save money now.

Featured image by Wyatt Smith/The Points Guy

Chase Sapphire Preferred® Card

WELCOME OFFER: 60,000 Points

TPG'S BONUS VALUATION*: $1,200

CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners

*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.

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More Things to Know
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn on travel.
Intro APR on Purchases
N/A
Regular APR
15.99%-22.99% Variable
Annual Fee
$95
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Recommended Credit
Excellent/Good

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