How to Use Capital One Miles to Erase Travel Expenses and Save Big

How to Use Capital One Miles to Erase Travel Expenses

Travel hacking can feel overwhelming at first, but Capital One’s miles program makes it incredibly simple to save on your adventures. Whether you’re a seasoned points collector or just getting started, Capital One’s "Purchase Eraser" feature allows you to redeem miles easily for travel expenses. Here’s how it works and how you can make the most of your Capital One miles.

***Side note: Transferring points to partners (like Aeroplan or Virgin Atlantic) will almost always offer much more value than using the purchase eraser (this is a flat 1 cent/mile), however, this feature is great for people who don't have the time to understand points and miles (although I believe anyone can do this!) or to erase travel expenses that cannot be booked with points or miles--the best way to use this feature. Things like Airbnb, car rentals, and cruises--you pay for these using your Capital One card that earns miles and then cover that cost with the miles.

So how do you do this?

Step 1: Earn Capital One Miles

To get started, you have to have Capital One miles. The best way to get a large amount of miles is through a credit card sign up bonus. Additionally, once you have the card, you can earn miles through your normal spending, the Capital One Offers, and referrals. Step 1 is getting a card that earns Capital One Miles.

Capital One offers several credit cards that earn miles for every dollar you spend. Some popular options include:

• Capital One Venture X Rewards Credit Card: Earn 2x miles on every purchase and 10x miles on hotels and rental cars booked through Capital One Travel.

  • Use my referral link to sign up here and earn a 75K sign up bonus!

    • (thanks for supporting the blog!)

• Capital One Venture Rewards Credit Card: Earn 2x miles on every purchase and enjoy a large sign-up bonus.

• Capital One Venture One Rewards Credit Card: Earn 1.5x miles on every purchase and earn 20,000 points after $500 spend in 3 months.

To maximize your earning potential:

• Use your card for everyday purchases, such as groceries, dining, and bills.

• Book travel through the Capital One Travel portal to earn bonus miles.

• Take advantage of sign-up bonuses by meeting the minimum spending requirement within the set time.

• Refer friends and family to the card

Step 2: Make Travel Purchases

Before redeeming your miles, you need eligible travel purchases to erase. Eligible expenses include:

• Flights

• Hotels

• Airbnb, Uber, etc.

• Car rentals

• Cruises

• Public transportation (including trains and taxis)

• Travel agencies or tour operators

• Disney World Tickets (When booked as a package deal with your hotel through Disney or when booked via Undercover Tourist--if you buy them direct on the site, they won't code as travel)

• Etc.

Make sure to charge these expenses to your Capital One card to be eligible for reimbursement.

Step 3: Redeem Miles with Purchase Eraser

Capital One’s Purchase Eraser allows you to use your miles to "erase" eligible travel purchases. Here’s how to do it:

• Log In to Your Account: Visit the Capital One website or open the mobile app.

• Go to the Rewards Section: Select your credit card and click on the "Rewards" tab.

  • Select Cover Travel Purchases once on the Rewards page

• Find Your Travel Purchase: Look for eligible travel purchases within the past 90 days.

• Redeem Miles: Select the purchase you want to erase and choose how many miles to redeem. You can cover the full amount or a partial amount.

Each mile is worth $0.01 when redeemed this way, so 10,000 miles equals $100 in travel credits.

Step 4: Book Future Travel with Miles

In addition to erasing past purchases, you can use your miles to book travel directly through the Capital One Travel portal. This option gives you flexibility when planning flights, hotels, or car rentals. Booking through the portal ensures you don’t have to pay out of pocket first. (Always make sure you check the prices in the portal against prices direct with the airline or hotel to ensure you are getting the best deal by booking through the portal. If not, book direct and then "Cover the travel purchase with your miles.)

Tips for Maximizing Capital One Miles

1. Stack Travel Discounts: Use the Purchase Eraser to cover discounted travel deals or stack it with promotions to stretch your miles even further.

   • Book via a cashback portal like Rakuten

   • Check your Capital One Offers

2. Combine Miles and Cash: If you don’t have enough miles to cover the entire purchase, Capital One allows you to use a combination of miles and cash.

3. Refer Friends: Some Capital One cards offer bonus miles for referring friends to sign up.

4. Don’t Forget the 90-Day Window: Travel purchases must be erased within 90 days, so check your account regularly.

Why Choose Capital One Miles?

• Simplicity: No complicated point conversions or airline restrictions.

• Flexibility: Erase any travel purchase or book directly through the portal.

• Value: Earn 2x miles or 1.5x miles on every purchase and redeem them easily (depending on card)

Final Thoughts

Capital One miles make travel hacking straightforward and accessible for everyone. Whether you’re erasing past travel purchases or booking new adventures, this program provides flexibility and value. Start earning and redeeming miles today, and you’ll be on your way to stress-free, budget-friendly travel in no time.

Have you used Capital One miles to erase travel expenses? Share your tips and experiences in the comments below!