A Step By Step Guide to Using the Capital One Purchase Eraser
New to the travel rewards world? Confused by the whole points and miles system? Lucky for you, you don’t have to even think about it if you have the Capital One Venture Card.
Along with the VentureOne card, you don’t need to navigate the complex and frustrating world of points and miles to unlock free travel. That’s because these cards offer a handy tool called the Purchase Eraser. With the Capital One Purchase Eraser, you can easily redeem your points for any travel expenses. There’s no easier way to save money and book a flight for free.
Looking for an easy way to earn and use travel rewards points? Here’s how the Capital One Venture Purchase Eraser works.
About the Capital One Venture Card
Don’t have the Capital One Venture card? It’s one of our favorite starter travel rewards cards. This card offers the following benefits:
- Earn 50,000 points after spending $3,000 in three months
- $100 application fee credit for Global Entry or TSA PreCheck
- 2x Capital One points on all purchases
- 10x Capital One points on all reservations at Hotels.com
- 14 airline transfer partners
- $95 annual fee, waived in your first year with the card
- No foreign transaction fees
This card checks all our boxes for a great travel rewards card. Click Here to get more information about this card.
How to Use the Capital One Venture Purchase Eraser
Using the Capital One Purchase Eraser is one of the easiest ways to redeem travel rewards. You’ll get 50,000 Capital One points when you spend $3,000 in the first three months of opening the card. These points can be redeemed for 1 cent each towards travel, which makes the welcome offer alone worth $500 in free travel. Here’s how you can spend those miles!
Step 1: Put Travel-Related Purchases on Your Card
So you’ve got the 50,000 points you earned from the sign-up bonus. Or perhaps you’ve continued spending on this card and racked up even more points. Now it’s time to use those points on some travel expenses.
Capital One considers “travel costs” to be a multitude of things, from Airbnb stays to Uber rides to flight and hotel purchases and even cruises. I especially recommend booking your hotels through Hotels.com and paying for the hotel with your Capital One Venture card: You’ll get 10x the points from their partnership!
It’s totally fine to purchase non-travel purchases on your card. You just won’t be able to redeem your miles by “erasing” them. Let’s take a look at how that works. On the plus side, you’ll earn 2x points for every dollar you spend.
Step 2: Erase Travel-Related Purchases
The next (and last) step in this process is to redeem your Venture points using the Capital One Purchase Eraser. To redeem your points, log in to your Capital One account and click the Redeem Miles/Rewards button.
Of course, it’s the year 2018 so you can also do it on your smartphone app.
Next, select how you’d like to redeem your points. You can book flights or hotels directly through Capital One, get gift cards, or redeem for cash. Capital One just added a new feature to the Venture card: You can now also transfer your rewards to one of their partner airlines. Find out which airlines you can transfer Capital One points to, and learn how to transfer your points. Still, the easiest (and our favorite) way to redeem Capital One rewards is with the Purchase Eraser function.
Once you’ve selected to cover your travel purchases, you’ll be taken to a page where you can select which of your travel-related purchases you’ve made on your Capital One Venture card you’d like to “erase.” You can even redeem to cover just part of a purchase if you don’t want to spend your all your points. That’s a feature that few travel rewards cards offer.
As you can see, I took a lot of Ubers recently! The Venture points to cent ratio is 1:1. That makes it simple to see how many miles it will require to erase a purchase. Select which travel-related purchase you want to erase, and voila! Your points will be deducted, and your purchase has been erased!
Just please don’t make fun of my 91-point balance. I just redeemed my points for a big purchase!
Once you hit that green “Redeem” button, you’re done! You’ll have just completed one of the easiest travel rewards redemptions known to man.
The beauty of Capital One Venture card is its simplicity. There’s no easier way to redeem rewards for free travel than this Purchase Eraser function.
Whether your redemptions are big – like spending those 50,000 Capital One points you get on the sign-up bonus to “erase” a $500 flight to Thailand – or small – like using my 1,332 points I earned on Uber rides to “erase” my Uber rides from my statement – you’ll quickly master this foolproof way to get into travel rewards.
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