![]() ![]() Capital One miles are typically valued at 1 cent per mile for tax calculations.All Capital One Travel refunds are sent back to the original payment method. It’s also worth noting that referral bonuses are taxable, and if you get one, Capital One may send you a 1099-MISC form that you’ll have to include on your tax return. If they use one of your old links and you have since been generated a new link, you will not receive the referral bonus. You should also make sure that your friend or family member has an up-to-date link. You can refer them to the VentureOne Card only. For instance, if you have the Capital One VentureOne card, you can’t refer a friend to the Capital One Venture X card. It’s worth noting that you can refer a friend only to the credit card that you currently hold. All you have to do is send your personal referral link to a friend or family member and, if they apply through your link and are approved, you’ll receive bonus miles. On top of earning Capital One miles through spending on one of the aforementioned credit cards, current Capital One cardholders can also earn bonus miles by referring a friend or family member. ![]() Redemptions through Capital One Entertainment usually yield a value of 0.8 cent per point. Redeeming this way may occasionally give you access to some VIP perks (for instance, Capital One cardholders may be able to enter events early and get special discounts at Capital One Arena in Washington, D.C.), but you probably won’t get the best value per mile. However, when you can get a much higher value per mile by transferring to Capital One’s travel partners, this probably isn’t the best use of your miles, either.Ĭapital One also allows you to redeem your miles for sporting events, concerts and other experiences through their Capital One Entertainment portal. If you redeem your miles for purchases on Amazon, you’ll always get a value of 1 cent per mile. If you choose to spend your miles through Capital One Shopping or PayPal, you’ll typically get a value of less than 1 cent per point. However, these probably aren’t the best uses of your miles. When Using Other Redemption OptionsĬapital One also allows you to redeem your miles through their Capital One Shopping portal, for eligible purchases made with PayPal and on Amazon. However, some redemptions with transfer partners, such as EVA, Finnair or TAP Air Portugal, often provide a value of less than 1 cent per point. With all four of these transfer partners, you should be able to find redemptions with values higher than 1 cent per mile. Some of the transfer partners that have offer the highest redemption values include: If you want to get the most value out of your Capital One miles, you should know which are the best and worst of Capital One’s transfer partners. On the whole, redeeming your points through Capital One’s transfer partners yields a much higher value per mile. These moves solidified Capital One’s place in the world of transferrable miles and travel cards and signaled that the bank will continue to improve its customer experience.īut, what are Capital One miles really worth? Is earning Capital One miles right for you? And which Capital One cards are the best for your lifestyle? We’ll cover all of that and more in this full review of the Capital One Rewards program. With this card’s impressive earnings rates and outstanding travel perks, such as access to Priority Pass and Capital One lounges, a $300 annual travel credit and a 10,000-mile anniversary bonus, it’s become one of the best premium travel cards on the market. In 2021, Capital one unveiled the Capital One Venture X Rewards Credit Card, the top-tier consumer card with an annual fee of $395. Since then, Capital One has continued to build on its list of transfer partners, added two exclusive hotel transfer partners (Accor and Wyndham) in 2020, four more airline transfer partners in 2021 and favorably adjusted transfer ratios with nearly all of its partners. This move made these already-great credit cards even more desirable. Back in 2018, Capital One added a ton of value to its lines of Capital One Venture and Spark Miles cards by allowing cardholders to take advantage of a list of transfer partners. ![]()
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