If you like the simplicity of earning rewards with the Capital One® Venture® Rewards Credit Card (and using the proper techniques you can earn points every day without even thinking about it), you’ll be happy to know that redeeming them is just as easy or even easier than claiming most things on the internet. After you log in to your account online, clicking on the amount of your reward will show you two ways to redeem your miles for travel:
1. Travel Purchase Eraser
To receive a statement credit on travel-related purchases, start by clicking on “Redeem Travel Purchases.” Select any travel-related purchase you’ve made in the last 90 days — this can be anything from flights to taxi rides, as long as it’s coded as “travel.”
Enter the amount you want to redeem at $0.01 per mile; you can redeem for an entire travel purchase or just a portion of one. For these transactions, there’s no minimum redemption requirement. Then review your order before confirming.
Your statement credit will be applied within 2 to 3 business days after you submit your request.
2. Book a new reservation
If you don’t have any past travel purchases, no problem. Capital One partners with Orbitz to allow you to use your miles to plan a future vacation. Click on “Book a Trip” to redeem your rewards on a future flight, hotel stay, car rental or vacation package at $0.01 per mile (there’s no minimum number of miles needed to book with this method). Then choose your departure city, destination and travel dates to search for the right booking.
The drawback to using this platform is that you can’t do a partial redemption, so you must have enough miles to cover the full cost.
You can also redeem your miles for gift cards, cash, charitable donations and non-travel statement credits, but many of these options value your miles at a half-cent each. If you want to get the most value out of your rewards, redeeming for travel is the way to go.
TRANSFERRING MILES TO PARTNERS
As of December 2018, holders of the Capital One® Venture® Rewards Credit Card also have the option of transferring miles to the frequent flyer programs of Capital One’s partner airlines. The issuer has more than a dozen partners, but the list does not include any domestic U.S. airlines. You get 1.5 airline miles for every 2 Capital One miles you transfer.