As nice as it’s to switch Capital One miles to 18 airline and resort companions, doing so is not all the time one of the best concept. You will generally get subpar worth, and you’ll’t cowl all journey bills this manner.
Whether or not you come throughout an ultracheap flight deal that does not make sense to e book with airline miles, do not wish to fear about chasing award availability or just cannot use factors or miles in your journey expense, contemplate redeeming your Capital One miles at a set worth. The method is comparatively simple and, in contrast to transferring Capital One miles, would not require leaping by any hoops. And if you find yourself canceling a redemption, you will not have to fret about your factors or miles being “caught” in a program you have got little use for past your initially meant award ticket or resort evening.
Redeeming Capital One miles at a set price can present as much as 1 cent per mile in worth. With each the Capital One Enterprise X Rewards Credit score Card (see charges and charges) and the Capital One Enterprise Rewards Credit score Card (see charges and charges) presently providing 75,000 bonus miles while you spend $4,000 on purchases within the first three months from account opening, you would be $750 in worth, simply by opening a brand new card and redeeming on this trend.
On this information, we’ll talk about how one can redeem your Capital One miles at a set worth.
Redeeming Capital One miles at a set worth
Earlier than we dive in, this is a high-level overview of the varied fixed-value redemption choices:
| Redemption possibility | Per-mile worth |
|---|---|
| Cowl journey purchases | 1 cent |
| E-book new journey | 1 cent |
| Reward playing cards | 0.8 cents |
| Store on-line by Amazon or PayPal | 0.8 cents |
| Capital One Leisure | 0.8 cents |
| Money again | 0.5 cent |
To see your whole redemption choices, check in to your Capital One account and click on in your mileage stability to be taken to the rewards web page. Scroll down and you may see all of your fixed-value redemption choices. You should use your miles for journey, present playing cards, money again, PayPal purchases, Amazon orders or Capital One Leisure purchases.
Alternatively, you may switch them to a different account.
When redeeming miles for journey, you have got two choices:
- You’ll be able to e book new journey by Capital One Journey.
- You should use the miles as an announcement credit score towards latest journey purchases.
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No matter which route you’re taking, the redemption price is all the time 1 cent per mile. Nonetheless, the second possibility — protecting latest purchases — is the clear winner. We’ll clarify why in a bit.
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Redeem for a latest journey buy
Clicking “Cowl journey purchases” will deliver you to a display screen with all of your eligible journey purchases made throughout the final 90 days. The time period “journey” is used fairly broadly and consists of all the pieces from flight and resort bookings to practice tickets, Uber and Airbnb bookings. From there, you are simply two clicks away from offsetting journey bills in your account with miles.
After deciding on the acquisition you’d wish to cowl, you may both approve the redemption outright or edit the variety of miles used to get a partial credit score towards the cost.
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E-book new journey by Capital One
Alternatively, you should utilize your miles to e book new journey immediately with Capital One. The issuer’s journey portal appears like some other reserving web site, although it integrates some incredible options from Hopper. And because the miles have a set worth, you will by no means want to fret about blackout dates or award restrictions.
Nonetheless, you will in all probability be higher off making reservations immediately with a journey supplier after which offsetting the acquisition utilizing the tactic beforehand described. In spite of everything, there are many advantages to reserving immediately. It could be simpler to get assist from an airline within the occasion of a schedule change or cancellation. As well as, most resort and automobile rental reservations booked by third-party platforms aren’t eligible to earn factors within the firm’s loyalty program, nor would you get pleasure from any elite standing perks on these stays.
That is notably necessary for properties within the Hilton Honors, Marriott Bonvoy or World of Hyatt portfolios — three of our favourite resort loyalty applications right here at TPG.
You might also be capable of use cash-back procuring portals or different loyalty applications when reserving immediately, and it’s possible you’ll acquire entry to extra stock that is not bookable by Capital One Journey.
For instance, you might e book a trip rental by Vrbo, which might earn you 2% again by the brand new One Key program. Or, you might e book an IHG One Rewards property by beginning at Rakuten. Then, you’d cowl both buy together with your Capital One miles. This can be a nice solution to double dip on a reserving and get much more money again.
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Redeem for present playing cards
Previously, Capital One miles usually maintained the identical mounted worth of 1 cent apiece when redeeming for present playing cards. Nonetheless, the vast majority of choices now present a worth of simply 0.8 cents apiece, together with Amazon, Apple and DoorDash.
You’ll be able to typically purchase present playing cards with a reduction or money again, so that you’re higher off utilizing your miles to offset journey bills.
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Store on-line with Amazon or PayPal
Another choice is to redeem Capital One miles immediately when procuring on-line and testing by PayPal or Amazon.
Nonetheless, you will solely get 0.8 cents per mile in worth this manner. As such, it is best to in all probability keep away from this redemption possibility.
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Redeem for money again
The least-valuable redemption possibility is for money within the type of an account credit score or a examine by mail. You’d wish to keep away from this selection since you’ll solely get 0.5 cents per mile in worth when redeeming for cash-back rewards.
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Switch miles to a different account
The ultimate manner you may redeem your Capital One miles is by transferring your miles to a different account — both yours or one other particular person’s account. There aren’t any prices related to this and, so long as the opposite particular person holds a Capital One miles-earning card, there aren’t any restrictions as to who you may ship them to. Nonetheless, it’s possible you’ll must name Capital One to request the switch.
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Incomes Capital One miles
The data for the Capital One Spark Miles Choose for Enterprise has been collected independently by The Factors Man. The cardboard particulars on this web page haven’t been reviewed or supplied by the cardboard issuer.
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Backside line
Redeeming Capital One miles at a set worth may be very easy — even inexperienced persons to the award journey passion will not have any bother doing so.
If you’re able to put in additional effort and start experimenting with extra complicated (and doubtlessly extra useful) redemptions, head to our information on transferring Capital One miles to airline companions for the total rundown. If you happen to need assistance deciding the best way to redeem your miles, try our submit on whether or not it is best to switch Capital One miles to airline companions. Alternatively, you may keep on with one of many fixed-value redemptions mentioned above.
Lastly, in the event you do not have already got the Capital One Enterprise X Rewards Credit score Card, now is a good time to use: You’ll be able to earn 75,000 bonus miles while you spend $4,000 on purchases within the first three months from account opening.
