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

Advertiser Disclosure

Capital One Purchase Eraser

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

This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. For more information check out our Advertising Disclosure.

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 X Rewards Credit Card or 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 … than making it free.

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

Related Reading: 9 Unique Ways to Use the Capital One Purchase Eraser for Travel

 

 

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 Rewards Credit Card. Once you’ve spent $4,000 within the first three months of opening the card, you’ll earn a 75,000-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 $750 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 75,000-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!

 

How to Earn Capital One Venture Miles

To spend Capital One Venture miles wisely, you’ve first got to earn them. You’re in luck: There are a handful of cards that can help you bolster your balance of Venture miles, including a brand new option.

 

The Capital One Venture X Card

There’s a new kid on the block, and it might just be the best travel credit card we’ve ever seen.

The Capital One Venture X Rewards Credit Card is the bank’s very first premium travel card. Think of it as a souped-up version of the ever-popular Capital One Venture Rewards Credit Card that’s chock full of extra benefits: Access to Capital One Lounges and Priority Pass lounges, a $300 annual travel credit, a credit for Global Entry or TSA PreCheck, great travel and rental car insurance protection, and more. The annual fee clocks in at $395 a year, but the benefits can easily outweigh that.

Here’s the best part: You can currently earn 75,000 Venture Miles after spending $4,000 in the first three months. Considering you earn at least 2x for every dollar you spend on the Venture X Card, you’ll earn a total of at least 83,000 Venture Miles.

 

capital one venture x card

 

Click Here to learn more about the Capital One Venture X Rewards Credit Card.

 

The Capital One Venture Card

The Capital One Venture Rewards Credit Card has been a fan favorite among travelers for years – and for good reason. It’s truly one of the best travel credit cards for beginners.

You earn 2x points on every purchase and even get a credit that covers the cost of Global Entry or TSA PreCheck – all for a card with a $95 annual fee.

Capital One currently offers a welcome bonus of 75,000 miles once you spend $4,000 on purchases within three months from account opening. This is equal to $750 in travel expenses – or get even more by transferring those 75,000 miles to partner airlines or hotels.

 

capital one venture card 

 

Click Here to learn more about current offers for the Capital One Venture Card. 

 

Capital One VentureOne Card

Think of the Capital One VentureOne Rewards Credit Card as the littlest sibling to the Venture X and Venture Card.

It’s a no-annual-fee card that will earn you 1.25x miles per dollar you spend. The welcome bonus is smaller, too – though still quite nice. You can currently earn 20,000 Venture Miles after spending just $1,000 in the first three months.

 

capital one ventureone card

 

Click Here to learn more about the no-annual-fee Capital One VentureOne Card. 

 

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 75,000 Capital One miles you get on the sign-up bonus to “erase” a $750 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.

15 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.

    • Hi Deva! Theme park tickets are not specifically included in what Capital One codes as “travel”.

  • How soon can I pay off purchases and still get the points? Can I make a purchase, pay it off the same day, and get the miles?

  • If I pay off my card monthly, can I still use the eraser on travel purchases? Will that come out a statement credit?

    • You can. But you’ll be able to erase purchases as soon as they post to your account within a few business days. You might as well erase them right away before paying down the full balance, but either way should work. It would just appear as a statement credit.

Leave a Reply

Your email address will not be published.

[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]