Capital One Miles Value

Cash Value & Redemption Options

The Capital One Miles Cash Value Calculator will give you the cash value of your Venture and Spark Miles based on each redemption option. Each option in the redemption table is also explained in detail.

Capital One Miles are earned through either the Venture Rewards or Spark Rewards programs. While both programs are separate, they operate the same in terms of value and redemption options. The best value of Capital One Miles comes from travel redemptions which will give you a value of 1 cent per mile. Other redemptions through Capital One offers a value of 0.5 to 1 cents each. Capital One Miles can also be transferred to 10+ airlines which give you a chance to get more than 1 cents in value. This page will cover the different ways you can redeem your miles.

Capital One Miles Cash Value

Capital One Venture Miles and Capital One Spark Miles are separate reward programs under the Capital One Miles umbrella, but they both have the same redemptions and cash value. You can enter any amount of Capital One Miles in the calculator below to see the dollar value based on the options in the redemption chart.

Capital One Miles Value Calculator
Enter any amount of Venture or Spark Miles.
Capital One Purchase Eraser
1 cent
Capital One Travel Portal
1 cent
Gift Cards
0.5 to 1 cent
$0 - $0
Cash Back
0.5 cents
Share Miles Between Account Holders
Sharing Points are 1:1
0 Venture Miles
Transfer To Airlines
4:3 Partners
0 Airline Miles
Transfer To Airlines
2:1 Partners
0 Airline Miles

Capital One Purchase Eraser

The Purchase Eraser is Capital One's main tool for redeeming Capital One miles. It is used to wipe out travel charges that post to your account at a rate of 1 cent per mile. Purchase Eraser redemptions must be made within 90 days from the date your travel purchase posts to your account. Partial redemptions can also be made for charges you may not have enough points for. Purchases made from airlines, hotels, rail lines, car rental agencies, limousine services, bus lines, cruise lines, taxi cabs, travel agents and time shares are generally considered to be travel purchases assuming the merchant has it coded properly as some type of travel.

Once you're in the Capital One Purchase Eraser tool, it's as easy as clicking on the purchases you wish to erase. Once you click on the purchase, you'll be asked to approve the redemption or enter in how miles you want to use for a partial redemption.

Capital One Travel Portal

Capital One Miles can also be redeemed in the Capital One Travel Portal to book flights, car rentals, or hotel reservations at a 1 cent per mile rate. There's no restrictions or blackout dates when booking on their travel portal, but this is not the best method when it comes to using your Venture Miles.

Useful Information: Capital One has a great line up of cash back credit cards that can possbily earn you more value. Check out the Capital One Cash Back Calculators!

Gift Cards

Capital One Miles can be redeemed for Gift cards at a rate of 1 cent or lower per mile. While this is not a bad redemption, gift cards can usually be found for less than their face value or on sale from online retailers like Amazon or Ebay. If you're going for gift card redemptions, I'd recommend finding a no-fee cash back card as you will earn gift cards faster and usually guarantees a redemption that is cent for cent. I recommend looking into cards like the Citi Double Cash or Capital One Quicksilver Card.

Cash Back Redemption

Redeeming Capital Miles for cash back will give your miles a value of 0.5 cents. It's better to use the Purchase Eraser or rewards center for travel redemptions and get the 1 cent value. If you're looking for cash back redemptions, you'd be better off with a cash back card. You can pick up the capital one cash back combo which consists of the Quicksilver and SavorOne card to earn between 1.5% and 3% cash back on all purchases.

Best Redemption Method

So with most of these redemptions giving you a value of 1 cents per mile, is there an option that's better than others? Yes. What is this option? Redeeming your miles for travel purchases you made to your card using the Purchase Eraser. This will be the best option when it comes to using your Capital One Miles because you can earn rewards and cash back on the purchases you made and then use the Purchase Eraser to take care of the charges. Let's look at an example of these options:

Redemption Example

Let's say you're looking at a $300 hotel cost and you have the 30,000 Venture/Spark Miles in your account to cover the redemption.

Redeeming With The Capital One Travel Portal

For this redemption, you would bring up the Capital One Travel Portal and find the $300 hotel you're planning on using your miles for. Once it's found, you will apply the 30,000 Venture/Spark Miles and be on your way.

Final Verdict: You've used 30,000 miles and earned no type of rewards.

Redeeming With Purchase Eraser

Assuming you're still using the Capital One Travel Portal, the first step is to find the hotel. Once you find the $300 hotel, you will use your Venture/Spark Card to pay for the hotel. Depending on the Capital One Miles card you used, you'll earn between 375 and 600 miles. Once the charge posts to your account, you can use the Purchase Eraser to erase the $300 hotel charge with the 30,000 miles in your account.

Final Verdict: You've used 30,000 miles and earned 375-600 Venture/Spark Miles from using your card to originally pay for the hotel.

Rakuten Hilton
Use cash back portals to stack cash back on top of rewards. Download the Rakuten Chrome extension to know when you're on a site that earns cash back!

Redeeming With Purchase Eraser [Pro Edition]

As an example, let's say that $300 hotel you're booking is a stay at Hilton. You can book through a cash back portal like Rakuten and maximize your return.

If you don't have the Chrome extension, you'll starting on the Rakuten website and pull up Rakuten's Hilton page.

Rakuten Hilton Page
Rakuten has over 2,500 stores which also includes many travel sites.

Once you click on Shop Now, Rakuten will take note of the session and open up the Hilton website (always sign up for a hotel's loyalty program when booking direct... always). You can then search Hilton as normal and find your $300 hotel stay and book it with your Capital One Card. Once the hotel charge posts to your account, use the Purchase Eraser to erase the charge with your 30,000 miles.

Final Verdict: You've used 30,000 miles and earned 375-600 Venture/Spark Miles from using your card to initially pay for the hotel, earned cash back by using the Rakuten cash back portal ($7.50 @ 2.5%), and earned 3,000 Hilton Honors Points (worth about $18) since you signed up for a Hilton Honors account. All that combined is about $29-$31 in rewards.

Final Verdict

That example shows you why the Purchase Eraser is the way to go when it comes to using your Capital One Miles for travel. Those who want to take it a step further can:

  • Book direct or through online travel agencies (etc. Expedia, Orbitz, Priceline) to earn rewards with a rewards program
  • Use a cash back portal (there are many) to start the book process

If you want to learn more about booking travel with Rakuten (formerly known as Ebates) you can check out our write up on Booking Travel With Cash Back Portals. You can also jump over to the Rakuten page to sign up or check out the details on Hilton Honors Points.


Capital One Venture and Spark Miles are worth 1 cent on average for most redemptions which means you'll be earning between 1.25% and 2% back on purchases across credit cards in the Venture and Spark Rewards Programs.

You can transfer your Venture and Spark Miles to airline and hotel rewards programs. Capital One doesn't have the best transfer ratios, but it's still possible to get some solid value out of a few partners. You can use the Capital One Miles Transfer Calculator to calculate the transfer of your miles to partners and get a breakdown of available partners.

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