AwardWallet receives compensation from advertising partners for links on the blog. The opinions expressed here are our own and have not been reviewed, provided, or approved by any bank advertiser. Here's our complete list of Advertisers.
One of the big advantages of holding multiple Capital One cards is the ability to convert your cash-back rewards into miles that can be transferred to Capital One airline and hotel partners. While not a new feature, it's an often-overlooked benefit that can add a ton of value to the rewards you earn using cash-back cards.
- 2% cash back for your business on every purchase, everywhere
- No foreign transaction fees
- $0 intro for first year; $95 after that
- 2% Cash Back on every purchase. 5% Cash Back on hotels and rental cars booked through Capital One's travel booking site.
In this post, we look at how to convert cash back to miles with Capital One, why this is such a great deal, and which cards gain value thanks to this functionality.
Page Contents
Reasons To Convert Cash Back to Miles
The ability to choose what you want to do with your rewards is always a positive. Having more control over your redemption options and more options available is always a net positive. Some people prefer cash back. Others prefer miles that they can redeem with transfer partners. And no matter which type of Capital One credit card you hold, you can redeem your rewards for a statement credit on qualifying purchases.
Regarding Capital One cards, you can earn miles in more ways and at higher earning rates. For example, the Capital One Savor Cash Rewards Credit Card earns 3% cash back on dining, entertainment, and at grocery stores while the Capital One Venture X Rewards Credit Card earns 2x on every purchase. Instead of earning just 2x by using your Capital One Venture X everywhere, you can earn higher rates and then convert your cash back to Capital One miles.
It also allows you to take advantage of offers on premium Capital One business cards like the Spark Cash cards, and then use those miles with travel transfer partners.
Related: Best Capital One Transfer Partners
Capital One cash back is worth 1 cent per point when redeemed for cash or points. After converting cash back to miles, $5 in cash back would equal 500 Capital One miles (5 x .01 = 500).
Capital One Cards That Qualify
Cash back earned from any Savor, Spark Cash, or Quicksilver card can be converted to miles when you also carry a Capital One Venture X, Capital One Venture Rewards Credit Card, or Capital One Spark Miles for Business. Your cards must be linked under one login. If they're not already linked, you can link your cards here.
You can also share Capital One miles between linked miles-earning cards. However, you cannot convert miles to cash back.
Related: All of the Cards That Earn Capital One Miles
How To Convert Capital One Cash Back to Miles
Here's how to convert your Capital One cash-back rewards to Capital One miles:
Log in to your Capital One account (using the website, not the mobile app) and scroll down to see your rewards. You'll be asked which account you want to view. Select the account that earns cash back.
Choose “Move Rewards” at the bottom of this screen. Another pop-up will appear asking you which linked account you'd like to share these rewards with. Choose the account you want to send your rewards to and click Next.
The next pop-up, shown below, will ask you how much of your cash back you want to move. Choose any amount up to the total amount of cash back you have available. It will show you how much you'll have remaining and how miles you'll get from the conversion. Click Share.
Your conversion should be instant, and you'll see the transaction on your rewards summary shortly.
Related: How to Transfer Capital One Miles to Airline and Hotel Partners: A Step-By-Step Guide
Final Thoughts
Need a TL;DR (too long; didn't read)? Here it is in one sentence:
You can convert Capital One cash-back earnings to Capital One miles, opening the ability to earn at higher rates while still having access to transfer partners.
By using cash-back-earning cards from Capital One, you can take advantage of cash-back welcome offers. Plus, you have the potential to earn more than the standard 2x earning ratio found on Capital One's miles-based personal and business cards. By maximizing which card you use and then combining your earnings later on, your points balances grow faster. In the end, you have even more redemption options available.
Before you apply for a cash-back-earning card from Capital One, make sure to consult our guide to bank application rules and brush up on Capital One's application restrictions.
- Earn a one-time cash bonus of $2,000 once you spend $30,000 in the first 3 months
- Earn an additional $2,000 cash bonus for every $500K spent during the first year. You can earn this bonus multiple times over the course of year 1!
- Earn unlimited 2% cash back on every purchase, everywhere-with no limits or category restrictions
- 2% Cash Back on every purchase. 5% Cash Back on hotels and rental cars booked through Capital One's travel booking site.
The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
