Capital One Rewards Program: How to Earn, Redeem, and Maximize Your Benefits
23.07.2024 - 11:50
/ insider.com
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The information for the following product(s) has been collected independently by Business Insider: Capital One Spark Miles for Business†, Capital One Spark Miles Select for Business†, Capital One Spark Cash Plus†, Capital One Spark Cash Select for Excellent Credit†. The details for these products have not been reviewed or provided by the issuer.
Capital One has been hyper-focused on self-improvement in recent years. The issuer now offers some of the best credit cards for earning travel and other rewards, and its momentum continues to build.
Capital One historically offered fixed-value rewards worth 1 cent apiece that could be redeemed for travel by "erasing" eligible expenses on your credit card statement. But in the late 2010s, Capital One introduced a slew of travel partners across airline and hotel loyalty programs, significantly boosting the value of Capital One miles. Today, this issuer partners with 18 different airlines and hotels.
Further adding to the brand's value, Capital One has opened several airport lounges in recent years, including in Dallas-Fort Worth (DFW), Denver (DEN), and Washington-Dulles (IAD).
Travelers also have the option of purchasing flights, hotels, car rentals, and more through the Capital One Travel portal. Travel booked through the portal comes with exclusive features such as cancel-for-any-reason coverage, refunds for up to 10 days if your airfare drops (in the form of a Capital One travel credit, up to $50), and price-freezing for up to 14 days if you're not ready to book.
Let's look at the best ways to earn and redeem Capital One rewards today.
Capital One miles have an average redemption value of 1.7 cents each in Business Insider's most recent valuations, thanks to their evolution from basic cash back to a highly valuable transferable rewards program.
Capital One's roster of 15 airline and three hotel transfer partners gives these miles a high upside, and the option to redeem directly for statement credits on travel purchases provides a consistent value floor.
Read on to learn which redemption options you should target and avoid in order to maximize your return.
You need a Capital One miles-earning credit card in order to earn Capital One miles. Other Capital One credit cards earn rewards that can be converted into Capital One miles, but you'll need a credit card that earns Capital One miles to do that (we'll cover this in a minute).
The Capital One Venture X Rewards Credit