Capital One offers four credit cards that can earn Capital One Miles: Spark® Miles for Business, Spark® Miles Select for Business, Venture® Rewards, and VentureOne® Rewards.
See our best credit card bonuses here.
Occasionally, one of these cards will offer a great welcome bonus, such as a limited time 200,000 mile welcome bonus. Throughout this post, we will talk about the best ways to take advantage of these welcome offers when they become available. Continue reading to learn more!
Capital One also offers great sign-up bonuses for their Checking/Savings accounts.
Capital One Miles Quick Facts
| Personal Credit Cards | Capital One® Venture® Rewards Credit Card Capital One® VentureOne® Rewards Credit Card |
| Business Credit Cards | Capital One Spark Miles for Business Capital One Spark Miles Select for Business |
| Redemption Options | Travel purchases via Capital One Travel statement credits Gift cards Transfers to airline partners |
| Average Mile Value | $0.014 |
Earning Capital One Miles
As mentioned above, Capital One offers four credit cards that can earn Capital One miles. However, Spark cards are more designed for small businesses, while Venture cards are more for personal use.
 The Capital One Venture Rewards Credit Card offers a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel. You're able to earn: • 2X Miles per dollar on every purchase, every day. • 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options Enjoy a $50 experience credit and other premium benefits with every hotel and vacation rental booked from the Lifestyle Collection This card does come with a $95 annual fee. Enjoy no foreign transaction fees and receive up to $120 application fee credit for Global Entry or TSA Pre?®. |
 The Capital One VentureOne Rewards Card offers 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel. Enjoy 0% intro APR on purchases and balance transfers for 15 months; 19.74% - 29.74% variable APR after that; balance transfer fee applies. You'll earn: • 1.25 Miles per dollar on every purchase, every day. • 5 Miles per dollar on hotels and rental cars booked through Capital One Travel. This card comes with no annual fees and no foreign transaction fees which is a great choice as your go-to travel card! |
 The Capital One Spark Miles for Business offers a one-time bonus of 50,000 miles - equal to $500 in travel - once you spend $4,500 on purchases within the first 3 months from account opening. You'll earn: • 2 Miles per $1 on every purchase, everywhere. • 5 Miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel. Receive up to a $120 credit for Global Entry or TSA PreCheck There is an annual fee of $95, however, there is a $0 intro annual fee for the first year. Enjoy no foreign transaction fees and fly on any airline, anytime, with no blackout dates or seat restrictions. |
Redeeming Capital One Miles
The value of your Capital One miles will depend on how you decide to use them. Here is a chart of how you can get the most value out of your miles.
| Redeem For | Value Per Mile | 200k-Mile Value |
| Travel booked via Capital One | $0.01 | $2,000 |
| Travel statement credits | $0.01 | $2,000 |
| Gift cards | $0.01 | $2,000 |
| Cash back | $0.005 | $1,000 |
| Transfers to airline partners | $0.014* | $2,800* |
*Approximate value.
The easiest way to get the most value is to redeem for travel statement credits. Keep in mind that only travel spending in the previous 90 days qualify for statement credit.
The worst way to spend your miles is for cash back in the form of account credits or checks by mail. Our recommendation is that you steer clear of this option because it will devalue your miles by about 50%.
For the best value of your miles, transfer them to partner airlines and take the time to select the best flights to redeem them for. If you put in the work in finding the best flights, you could get some great value for your Capital One miles.
Capital One partner airlines include:
Best Ways to Redeem 200K Capital One Miles
As mentioned, if you want to get the most value out of your Capital One miles, you will want to transfer them to a partner airline. Most conversions happen at a 2:1.5 ratio (except Emirates, JetBlue and Singapore Airlines). That means that with your 200,000 Capital One miles, you can get 150,000 miles from most of the partner frequent flyer programs.
Here are some of our favorite ways to spend the 200,000 Capital One miles:
Within Air Canada Aeroplan, certain partner airlines offer award tickets with little to no fuel surcharges. You’ll be able to find great deals with low fees. Do keep in mind that you may also come across award tickets with high fees.
To avoid high fees, try to book with these partner airlines:
- Aegean Airlines
- Air China
- Air India
- Air New Zealand
- Avianca
- Brussels Airlines
- Shenzhen Airlines
- Singapore Airlines
- South African Airways
- SWISS
- Turkish Airlines
- United Airlines
If you’re travelling between two continents, Aeroplan will allow either two stopovers or one stopover and one open jaw at the country of origin or destination. This means that you can essentially travel the world for the cost of just one roundtrip award.
Because Avianca does not pass on fuel surcharges for any partner airline, you can book a Lufthansa first-class, one-way award from the United States to Europe for just 87,000 miles and only $5.60 in fees.
| Route | Class | Mileage |
| United States to the Middle East | One Way | Business | 78,000 |
| United States to North Asia | One Way | First | 90,000 |
| United States to Brazil | Roundtrip | Business | 100,000 |
| United States to Other S. American Countries | Roundtrip | Business | 120,000 |
| United States to Europe | Roundtrip | Business | 126,000 |
If you get pas the complex rules that comes with Cathay Pacific Asia Miles, you will see that they offer some fantastic award opportunities. All you have to keep in mind is that:
- You’re allowed 1 stopover on one-way standard awards (except Air China and Iberia).
- You’re allowed 2 stopovers and 1 open jaw on roundtrip standard awards.
- You’re allowed 5 stopovers and 2 open jaws on Oneworld awards.
- You save several hundred of dollars in fuel surcharges for British Airways-operated award flights.
Here is what we recommend:
| Route | Class | Mileage |
| United States to Oceania (stopover in Asia) | One Way | Business | 85,000 |
| United States to Europe (stopover in Asia) | One Way | Business | 85,000 |
| United States to Europe (stopover in Australia) | One Way | Business | 90,000 |
| United States (West Coast) to Australia | Roundtrip | Business | 150,000 |
| United States to the Middle East | Roundtrip | Business | 150,000 |
| United States to Asia | Roundtrip | First | 150,000 |
Etihad’s award chart for travel on American Airlines is, in general, much better than AA’s own award chart. The following are all great deals:
| Route | Class | Mileage |
| United States to Europe | Roundtrip | First | 125,000 |
| United States to Asia 1 | Roundtrip (Japan/Korea/Mongolia) |
First | 125,000 |
| United States to Asia 2 | Roundtrip (China/Thailand/Singapore/etc.) |
First | 135,000 |
| United States to the South Pacific | Roundtrip (Australia/New Zealand/Fiji/etc.) |
First | 135,000 |
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Bottom Line
Each Capital One miles you earn can easily be worth around $0.01. You will get on cent per mile every single time with no blackout dates to worry about.
However, if you are looking for the most valuable redemption method to get the most out of your Capital One miles, then transfer your miles to a partner frequent flyer program. This option is a little more difficult, but you can get an average of $0.014 each mile using this method. For more post like this, check out our list of bank guides and the best credit card bonuses!
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