With travel still shaky, Capital One has expanded your options for using Venture miles from Venture and VentureOne cards. And you've got more time to do it.
As the COVID-19 pandemic first struck this spring, Capital One joined a bevy of banks allowing you to use your Venture miles for restaurant takeout, food delivery services, and online streaming platforms. These new options were originally set to expire over the summer, but have continually been extended. Most recently, Capital One announced it will now last all the way through April 30, 2021.
It's simple to redeem your Venture Miles this way – it works just the same as redeeming Venture miles toward travel. Just put the purchase on your Capital One card, and after the purchase posts (typically within a few days), and use miles to cover the cost using “Cover Your Purchases.” From there, you can redeem miles on a list of eligible purchases using the Purchase Eraser feature.
Read our full guide to using Purchase Eraser to cover travel, food, and streaming expenses.
And just as with travel purchases, miles are worth 1 cent each on food and streaming services. So a $50 charge can be erased from your card statement by using 5,000 Venture miles.
While it may be painful to use hard-earned miles for something other than travel, this could make plenty of sense. And it's great for Capital One to add another option to your arsenal.
What Expenses Qualify?
Any purchases made directly with restaurants, cafes, or fast-food chains qualify, as do DoorDash, Uber Eats, and Postmates.
The streaming services category includes purchases made from eligible music and video streaming services like Netflix, Hulu, Spotify, Disney+, Kindle Unlimited, and many more.
Read more: 6 Reasons Why the Capital One Venture Card is Great for Beginners.
Otherwise, the Capital One VentureOne Rewards Credit Card is a solid option if you're looking for a card with no annual fee. You can currently earn 20,000 miles after spending $500 in your first three months with the card.
Bottom Line
This is a smart move for Capital One. At a time when travel isn't really an option, giving cardholders more options for using their miles is a big plus. And it may help persuade more people to renew their account and pay the annual fee.
These new benefits for Capital One Venture and VentureOne cardholders are valid for restaurant delivery, restaurant takeout, and streaming service purchases through April 30, 2021. You'll have 90 days from the time of the purchase to erase the charge from your statement.