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This post contains links to products from our advertisers, and we may be compensated when you click on these links. Our recommendations and advice are ours alone, and have not been reviewed by any issuers listed. Terms apply to offers listed on this page. You can redeem Capital One miles at a fixed rate or transfer them to airline and hotel partners. Some partners are much better than others, and a few should be avoided because of poor value. Always compare how many miles you d transfer with what you d need to erase a paid travel purchase. Historically, Capital One miles have been fixed-value rewards, with each mile worth 1 cent toward erasing travel purchases from your statement. A few years ago, Capital One introduced the option to transfer your miles to a variety of airline and hotel loyalty programs, and most recently added four new partners and improved some transfer ratios.

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