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Capital One Rewards do not expire as long as your account is in good standing. If you close your account, you will lose any rewards that have not been redeemed. This applies to Capital One miles rewards and cash rewards.
The single most important thing to remember with Capital One Rewards is that if you close your account (and haven't transferred your points out of your account first), your points will be lost. If you are thinking of or decide to close your Capital one cards, you need to use your points beforehand to stop them from disappearing forever.
Remember to always drain your balance using fixed-value redemptions or convert your points to airline miles or hotel points. With 16 airline options and 3 hotels, there is no excuse for losing a single Capital One mile!
What Happens if you Close a Credit Card?
If you close a credit card, the rewards associated with that card are lost. If you earn miles using the Capital One Venture Rewards Credit Card or Capital One Spark Miles for Business, you can transfer your points to travel partners before closing your card. And you'll want to do so you don't lose your rewards points.
What About Expiration Due to Inactivity?
Many rewards programs have points that expire due to inactivity. However, that is not the case with Capital One Rewards — or other bank transferable point currencies.
If you're ever concerned about points expiring or somehow losing your rewards, you can call the number on the back of your card to address your particular concern.
How Different Reward Program Points Expire
There are five major transferrable point currencies that we often discuss: Amex Membership Rewards, Capital One, Chase Ultimate Rewards, Citi ThankYou, and Marriott Bonvoy. When it comes to expiration, there is a fundamental difference between these.
Amex, Chase, Citi, and Capital One are financial institutions, and the existence of your points is linked to the credit card account you have with them. If you close an account, you'll generally lose the points associated with that card. Some banks let you avoid point expiration. For example, you can combine Chase points with another points-earning card to avoid your Ultimate Rewards points from expiring. Other banks force you to use the points associated with a card. For example, Citi points expire 60 days after account closure.
How to Keep Your Capital One Miles From Expiring
Thankfully, Capital One gives cardholders an out. Capital One cardholders can transfer Capital One miles to another account before closing a card to effectively avoid expiration. The only limitation here is that you need to have another Capital One account to transfer to.
Here's how to transfer your points out before closing an account. First, you'll want to log into your Capital One account. Then click on your miles balance right on the dashboard. That will open your account redemption options:
You can take advantage of any of these redemption options before closing your account to keep your Capital One miles from expiring. But, if you want to transfer to another account, you'll want to select the “move rewards” option at the bottom of the list. If you have another Capital One account, you can select that card and transfer your points to it.
If you don't have another Capital One account, you may be able to transfer to a friend or family member's account. But, that option isn't available online. So, you'll need to call the number on the back of your card to request a transfer.
What Capital One Cards Earn Transferrable Miles?
Capital One offers 4 credit cards that earn miles that can be transferred to nearly 20 transfer partners:
- Capital One Venture Rewards Credit Card
- Capital One VentureOne Rewards Credit Card
- Capital One Spark Miles for Business
- Capital One Spark Miles Select for Business
Other Capital One credit cards earn cashback. These include:
- Capital One Savor Cash Rewards Credit Card
- Capital One SavorOne Cash Rewards Credit Card
- Capital One Quicksilver Cash Rewards Credit Card
Capital One Rewards miles do expire, but only if you close your Capital One account. You can keep your miles from expiring by redeeming them for cash back or by transferring miles to transfer partners or other Capital One accounts.
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