There's good news for Capital One cash-back cardholders when it comes to travel benefits and rewards. The credit card issuer announced May 17th, 2022 that cardmembers can now redeem Capital One Rewards for bookings within the Capital One Travel portal, as long as they have one of two student cards — the Capital One SavorOne Student Cash Rewards Credit Card (see rates and fees) or the Capital One Quicksilver Student Cash Rewards Credit Card (see rates and fees) — or one of the following cards:
- Capital One SavorOne Cash Rewards Credit Card (See rates and fees)
- Capital One Savor Cash Rewards Credit Card*
- Capital One QuicksilverOne Cash Rewards Credit Card (See rates and fees)
- Capital One Quicksilver Cash Rewards Credit Card (See rates and fees)
- Capital One Spark Cash Plus Credit Card*
On top of that, these cardholders can earn 5% cash back on hotels and rental cars booked through the Capital One Travel portal. The portal is a fairly new feature, and comes with outstanding consumer protection options such as price alerts, price drop protection and the best available prices, plus the flexibility to cancel your flight for any reason.
Below, Select breaks down the new feature for Capital One cardholders, as well as some tips for booking travel efficiently this summer.
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Using Capital One Rewards to book travel
The cost of travel, just like nearly everything else, has skyrocketed in recent months. Airline tickets are up by 25%, rental cars have gone up by 11% and hotel room prices have increased by 20% — all within the last year.
Earning credit card rewards through Capital One — whether it's miles with the Capital One Venture Rewards Credit Card (see rates and fees) or cash-back with the Capital One Quicksilver Credit Card (see rates and fees) — will allow you to save some money on your upcoming summer vacation.
Simply visit the Capital One Travel portal to book your trip. As you go through the booking process, you will be given the option to pay with your miles or cash back, depending on the card you're using. The amount you redeem will be deducted from your rewards balance, and you're done.
Saving directly on travel at checkout makes Capital One cash-back cards that much more valuable. Depending on the card you select, you could also earn rewards for making the purchase.
The best Capital One credit cards
What's the best credit card? It's a common question among consumers. But the answer really depends on you: Your 'best' credit card is the one that earns you the most rewards based on your purchases and that best aligns with your short- and long-term financial goals.
If your goal is to fly first-class next year, for example, choosing a travel rewards credit card would help you achieve this. If your goal is to save money on your monthly expenses to bolster your emergency fund, a cash-back credit card would be a better option.
If you want to earn points and miles to put toward a summer vacation and other travels, Capital One offers several rewards cards worth considering. Here's a look at two of the most valuable Capital One credit cards, their welcome bonuses and some of their best perks for cardholders.
Capital One Venture Rewards Credit Card
Capital One Venture Rewards Credit Card
Rewards
5 Miles per dollar on hotel and rental cars booked through Capital One Travel, 2X miles per dollar on every other purchase
Welcome bonus
Earn 75,000 bonus miles once you spend $4,000 on purchases within 3 months from account opening
Annual fee
$95
Intro APR
N/A for purchases and balance transfers
Regular APR
19.99% - 29.99% variable
Balance transfer fee
$0 at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you
Foreign transaction fee
None
Credit needed
Excellent/Good
See rates and fees, terms apply.
Pros
- 5 miles per dollar on hotel and rental cars booked through Capital One Travel
- Global Entry or TSA PreCheck application fee credit up to $100 every 4 years
Cons
- No introductory APR
- There’s a $95 annual fee
The Capital One Venture Rewards Credit Card (see rates and fees) is a solid pick for consumers looking to earn miles for travel. As you spend on the card, you will earn:
- 5X miles per dollar on hotel and rental car reservations booked via Capital One Travel
- 2X miles per dollar on all other purchases
The card also offers a valuable welcome bonus allowing you to earn 75,000 bonus miles after spending $4,000 within the first three months of card membership — that's a pretty good start if you're looking to redeem miles for flights, hotels, rental cars or other travel expenses this summer.
Cardholders receive several travel-related perks, such as a credit up to $100 to put toward TSA PreCheck or Global Entry membership, access to exclusive reservations and experiences through Capital One Dining and Capital One Entertainment, 24-hour Travel Assistance Services*, and extended warranty protection.
*Benefit available to accounts approved for the World Elite Mastercard product, subject to terms, conditions, and exclusions in the World Elite Mastercard Guide to Benefits. See Account Terms or Application Terms for more details. Terms, conditions and exclusions apply.
The Capital One Venture Rewards card has a modest $95 annual fee but no foreign transaction fees. (see rates and fees)
Capital One Savor Cash Rewards Credit Card
Capital One Savor Cash Rewards Credit Card
Rewards
4% cash back on dining and entertainment, 4% on eligible streaming services, 3% at grocery stores and 1% on all other purchases
Welcome bonus
Earn a one-time $300 cash bonus once you spend $3,000 on purchases within the first three months from account opening
Annual fee
$95
Intro APR
None
Regular APR
19.99% - 29.99% variable
Balance transfer fee
4% for promotional APR offers; none for balances transferred at regular APR
Foreign transaction fee
None
Credit needed
Excellent/Good
Terms apply.
Pros
- Unlimited 4% cash back on entertainment purchases
- Ability to redeem rewards at any amount, unlike some other cards with $25 minimums
- No fee charged on purchases made outside the U.S.
Cons
- $95 annual fee
- No introductory 0% financing offers for purchases or balance transfers
The Capital One Savor Cash Rewards Credit Card* is a great pick for anyone who spends regularly on dining and entertainment. The card has valuable cash-back categories, including:
- 4% cash back on dining and entertainment, and when you pay for popular streaming services
- 3% when you spend at grocery stores (excluding Superstores like Walmart and Target)
- 1% for all other purchases
- 5% for all hotel and car rental reservations booked through Capital One Travel
Once approved for the card, you can earn an up to $300 cash bonus after spending $3,000 within three months of opening your account.
Cardholders also have access to Capital One perks such as extended warranty protection, complimentary concierge services, 24-hour travel assistance and the ability to use rewards to cover your Amazon purchases, among other benefits.
The annual fee is $95, which can be easily earned back by completing the welcome offer's conditions. There are no foreign transaction fees.
Bottom line
Travel is going to be expensive for quite some time and using the right credit card to earn rewards and book travel can be a great strategy for knocking down some of those costs.
Before applying for a new credit card, it's prudent to have a well-established budget and prioritize your emergency fund and any investing for the future. With those foundational pieces in place, a new Capital One credit card could help you earn rewards and save on travel costs.
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*Information about the Capital One Savor Cash and Capital One Spark Cash Plus credit cards has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply
