Capital One Rewards Program Overview

By Zach SteinfeldUpdated July 3, 2017


MaxInsights offers a numerical analysis and recommendation of how to best use this reward system.

Capital One Miles earns cardholders 1-2 miles with every dollar spent, each of which can be spent in a variety of ways. The miles are generally worth between 0.5 cents and 1 cent per point.

Expected Value
  • MaxValue Purchase Eraser (1 cent per point)
  • MaxFlex Cash Back (0.5 cents per point)
  • Expected Value 1 cent per point


The Capital One Venture Miles program is fairly straightforward and easy to use, as there are only two options for redeeming points: purchasing award travel through the Capital One shopping portal, or erasing travel purchases from your statement. When booking an award flight, in some situations, using Capital One Venture miles makes more sense than does using frequent flyer miles with the airline of your choice: on inexpensive flights that do not have the lowest redemption award available, when you don’t have enough frequent flyer miles, and when you don’t have the cash to buy a ticket.

What exactly are the points worth?

The Capital One Venture Miles program enables cardholders to redeem points through a number of channels, with the best methods being travel-related, and the worst including cash back and gift cards. Capital One also allows cardholders to use points to donate to charity or purchase “Experiences”, both of which vary widely in value.

Redemption Examples

Redemption Alternative     Points     Cents / Point     Value     
Capital One Travel Portal10,0001.00$100
Purchase Eraser10,0001.00$100
Cash Back10,0000.50$50
Merchandise10,000> 0.50> $50


  • Capital One Travel Portal
  • Purchase Eraser
  • Cash Back
  • Merchandise

Cards with Capital One Currency

  • Benjamin Franklin

    An investment in knowledge pays the best interest.

    Benjamin Franklin
  • Pablo Picasso

    Action is the foundational key to all success.

    Pablo Picasso
  • Abraham Lincoln

    Let no feeling of discouragement prey upon you, and in the end you are sure to succeed.

    Abraham Lincoln

Make Life More Rewarding.

MaxRewards helps you earn thousands in credit card rewards from your everyday spend.

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