A Step-By-Step Guide to Using the Capital One Purchase Eraser
Capital One Purchase Eraser

A Step-By-Step Guide to Using the Capital One Purchase Eraser

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New to the travel rewards world? Confused by how airline miles or hotel points work? This is the beauty of using points from cards like the Capital One Venture Rewards Credit Card: There’s nothing simpler than redeeming miles using Capital One Purchase Eraser.

Along with the VentureOne card, these cards offer a handy tool called the Purchase Eraser to use to cover the cost of flights, hotels, or even Airbnbs or cruises. It’s incredibly versatile: You can use it to book almost any travel expense imaginable. And there’s no easier to book travel … then make it free.

Looking for an easy way to earn and use travel rewards points? Here’s how the Capital One Venture Purchase Eraser works.
 

 

How to Use the Capital One Venture Purchase Eraser

There’s a growing list of ways to put your Capital One miles to use.

Sure, you can earn miles on your Capital One card and transfer them to one of nearly 20 airline and hotel partners. You can even book travel directly through the new and improved Capital One travel portal. But the easiest way to use these miles – and arguably the easiest way in the whole wide world of points and miles – is to use the Capital One Purchase Eraser.

Let’s say you’ve recently picked up the Capital One Venture Card. Once you’ve spent $3,000 within the first three months of opening the card, you’ll earn a 60,000-mile bonus. Using Purchase Eraser, those miles can be redeemed for 1 cent apiece towards any travel-related purchase. 

That means you’ve got a cool $600 in value sitting in your account. Here’s exactly how to put it to use:

 

Step 1: Put Travel-Related Purchases on Your Card

So, you’ve earned the 60,000-point sign-up bonus – or perhaps you’ve continued spending on this card and racked up even more miles. Now it’s time to use them on some travel expenses.

Start by putting any travel expenses on your Capital One Venture card. 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 – all of these count as “travel.”

That’s right: Just pay for your flight, hotel, Uber, or parking fee with your Capital One card. Then give it a few days for your purchase to finalize and post to your account.

One note: 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. On the plus side, you’ll still earn 2x miles for every dollar you spend on the Venture card.

Now let’s take a look at how to erase those travel purchases.

 

Step 2: Erase Travel Purchases

The second (and final) step in this process is to redeem your miles using the Capital One Purchase Eraser.

Start by logging in to your Capital One account and click the Redeem button on your homepage.
 

capital one purchase eraser 

Next, select how you’d like to redeem your miles: You can book flights or hotels directly through Capital One, get gift cards, redeem for cash, or transfer Capital One miles to one of their partner airline or hotel programs. Still, the easiest (and our favorite) way to redeem Capital One rewards is with the Purchase Eraser function.

From this page, select “Cover Travel Purchases.”
 

capital one purchase eraser menu 

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.” This includes all travel transactions from the last 90 days.

Don’t have enough miles – or don’t want to spend them all? You can even redeem miles to cover just part of a purchase. As you can see, we’ve got the option here to redeem Venture miles to erase the cost of train tickets and an Uber ride in Rome.
 

capital one purchase eraser redemption 

Using Purchase Eraser, each Venture mile is worth 1 cent. That means the 4,014 miles we’ve got in this account is worth $40.14. And we can cover the cost of a $9.40 train ticket from Rome (FCO) Fiumicino Airport for 940 Venture miles.

Select which travel-related purchase you want to erase, and voila! Your points will be deducted, and your purchase will be erased from your account. Or click each field and type in how many points you’d like to use to cover part of that purchase.
 

capital one purchase eraser confirmation 

Once you hit that green “Confirm” button, you’re done! You’ll have just completed one of the easiest travel rewards redemptions known to man.

Keep in mind that you have 90 days to “erase” a travel purchase before it’s no longer available. If you’re ready to use those miles, don’t wait too long to erase some recent travel purchases!

 

About the Capital One Venture Card

Don’t have the Capital One Venture card? It’s one of our favorite starter travel rewards cards, and for good reason.

The miles you earn are easy to use on travel. With the current welcome offer of 60,000 Venture Miles after you spend $3,000 in three months, you can start off with $600 towards travel. And with a $95 annual fee, it’s palatable.

Those 60,000 miles could be a $600 flight to Thailand, a multi-night stay at a hotel or Airbnb, every Uber you take for the rest of the year, and much more using this Purchase Eraser feature. Or you could squeeze even more out of these miles by using Capital One transfer partners – especially after the bank leveled up many of these partnerships.

But the perks of the Venture Card go beyond the big signup bonus. Let’s take a closer look at this card’s top benefits:

  • Earn 60,000 miles after spending $3,000 in three months
  • Earn 5x miles on hotels and rental cars booked through the Capital One travel portal
  • Earn 2x Capital One miles on all other purchases
  • Get a $100 credit for Global Entry or TSA PreCheck applications
  • Transfer miles to 19 airline and hotel partners
  • $95 annual fee
  • No foreign transaction fees!
  • And more…

 

capital one venture
 

Click Here to get more information about the Capital One Venture Rewards Credit Card.
 

Skittish of the annual fee? You could opt for the Capital One VentureOne Rewards Credit Card instead, which comes with a much lower sign-up bonus of 20,000 miles ($200 towards travel), no Global Entry or PreCheck credit, and a lower points-earning ratio, but is worth considering if the annual fee is a deal-breaker. Read our comparison of these two Capital One cards.

 

Bottom Line

The beauty of the Capital One Venture card is its simplicity. There’s no easier way to redeem rewards for travel than Capital One Purchase Eraser.

Whether your redemptions are big (like spending those 60,000 Capital One miles you get on the sign-up bonus to “erase” a $600 flight to Europe) or small – like using miles to “erase” every Uber ride you take over the next month from your statement –  you’ll quickly master this foolproof way to get into travel rewards.
 

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

11 Responses

  • What happens if I used purchase eraser for a flight that then gets canceled due to Covid-19? Can I get the rewards points?

    • Hi Heather! If the airline cancels your flight, you’re due a refund. If you booked with your Venture card, that refund would go back onto your card as a statement credit, worth the same amount of points you used.

  • If I bought a hotel stay on my card through Hotels.com, will I still accrue the 10×1 points even if I erase the purchase after I buy?

    • Hi Brandon! Unfortunately, Venture’s promotion for 10x points with Hotels.com ended January 2020.

    • Hi Russel, when you use the Purchase Eraser, you are using points to remove a travel-related purchase. This will deduct that cash amount from your next statement. Hope this helps!

  • I booked an AirBnB, then used my Cap One points to “erase” the purchase. I had to cancel the AirBnB. I got a $ refund, but what about a refund of my points? I can’t seem to figure it out. I spoke to a rep and said the points would be refunded, but it has been a month and nothing.

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