You have three ways to redeem your miles for travel:
You can book your travel and pay using your card. You then need to go online at capitalone.com or call the Rewards Center to use the Purchase Eraser feature to redeem your miles and receive an account credit for the cost of your travel purchase. Note, purchase Eraser redemptions must be made within 90 days from the date your travel purchase posts to your account. Your account credit is usually applied to your balance within 2 to 3 business days after the redemption. Redemptions for a portion of a purchase amount (partial redemptions) are available.
2) Book new travel reservations
Go online to capitalone.com or contact the Cap One Rewards Center to book your travel. You can then use your miles to pay for your travel. The number of miles needed is based upon the cost of the travel purchase.
Simply multiply the cost of your travel purchase by 100. For example, if your travel purchase costs $200, you would multiply that by 100 to determine you need 20,000 miles to redeem.
Note, no matter how you redeem, you can only redeem your miles against travel purchases. Capital One generally defines travel as purchases made from airlines, hotels, rail lines, car rental agencies, limousine services, bus lines, cruise lines, taxi cabs, travel agents and time shares.
If you have a Capital One Venture Rewards Card or VentureOne Rewards Card you have another option as to how to redeem your Capital One Miles that you earn with your card, you can transfer them to an airline loyalty programs at a rate of 2 Cap One Miles to 1.5 airline miles. (2:1.5). And since the higher level cards (Venture Rewards, Spark Miles Business) earn 2 miles per dollar, these cards have essentially become a 1.5 miles per dollar card. Note, with Emirates and Singapore, the exchange rate is 2:1. If you have a business card, the Capital One Spark Miles Business Card or Capital One Spark Miles Select Business Card allows you this same transfer capability.
The airline transfer partners are…
Air France KLM-Flying Blue–1000 Capital One Miles = 750 Flying Blue Miles
Aeromexico-1000 Capital One Miles = 1000 Premier Points
