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How Does Capital One's Travel Credit Redemption Feature Work?
July 1, 2025
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What Was the Capital One “Purchase Eraser”?
The Capital One “Purchase Eraser” was a feature that let cardholders use their miles to erase travel purchases from their credit card statement. While the name “Purchase Eraser” has been retired, the feature itself hasn’t gone away — you can still use your miles to get reimbursed for recent travel purchases.
On your Capital One account, this feature now appears as “Cover Travel Purchases” or a similar phrase. The function is the same: redeem miles for a statement credit that offsets eligible travel charges from the past 90 days at a rate of 1 cent per mile.
For example, if you spent $200 on a flight, 20,000 miles would give you a $200 credit on your statement.
How to Use Your Miles to Cover Travel Purchases
Capital One’s website and mobile app make it simple to redeem miles toward travel expenses you’ve already paid for. Here’s how to do it:
Step 1: Log in and access your rewards
Sign in to your Capital One account online or through the mobile app. Navigate to the rewards section and look for an option such as “View Rewards” or “Redeem Rewards.”
Step 2: Select “Cover Travel Purchases”
Choose the option to cover your recent travel purchases. You’ll see a list of eligible transactions from the past 90 days, along with how many miles you need to cover each one.
Step 3: Choose a purchase to cover
Select a travel charge — like airfare, hotels, or car rentals — and decide how many miles to apply. You can cover the full amount or just part of it if you don’t have enough miles.
Step 4: Confirm your redemption
Once you confirm, the miles will be deducted immediately, and a statement credit will post within a few business days. That’s it — you’ve successfully used your miles to get reimbursed for travel.
Not sure which travel rewards card fits your spending? Kudos is a free smart wallet that compares top credit cards and helps you unlock perks automatically — so you get the most from every mile.
What Counts as a Travel Purchase?
Capital One defines travel broadly, giving you flexibility in how you use your miles. Eligible purchases often include:
- Flights and hotels
- Car rentals and cruises
- Rideshares, taxis, and trains
- Toll and parking fees
- Vacation rentals booked through travel platforms (like Airbnb)
If a purchase is coded as travel by the merchant, it usually qualifies. You have 90 days from the purchase date to redeem miles for that transaction. After that, it’s no longer eligible.
Keep in mind: each mile is worth 1 cent toward travel purchases, which is double the value of redeeming for non-travel credits or gift cards (typically 0.5¢ per mile).
Which Cards Let You Use Miles for Travel Purchases?
This feature is available on all Capital One travel rewards cards, including:
[[ SINGLE_CARD * {"id": "2888", "isExpanded": "true", "bestForCategoryId": "52", "bestForText": "Frequent Travelers", "headerHint" : "Luxurious Travel Benefits" } ]]
[[ SINGLE_CARD * {"id": "438", "isExpanded": "true", "bestForCategoryId": "52", "bestForText": "Frequent Travelers", "headerHint" : "High Travel Rewards" } ]]
[[ SINGLE_CARD * {"id": "440", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Frequent Travelers", "headerHint": "No Annual Fee"} ]]
[[ SINGLE_CARD * {"id": "3060", "isExpanded": "true", "bestForCategoryId": "52", "bestForText": "Frequent Travelers", "headerHint" : "Fee-Free Alternative" } ]]
[[ SINGLE_CARD * {"id": "3055", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Business Travelers", "headerHint": "Zero Transaction Fees"} ]]
[[ SINGLE_CARD * {"id": "434", "isExpanded": "true", "bestForCategoryId": "52", "bestForText": "Frequent Travelers", "headerHint" : "Transferrable Miles" } ]]
Each of these cards earns miles you can later apply toward travel purchases — with varying earning rates and perks depending on the card.
FAQs
Does Capital One still have the Purchase Eraser?
Not by name — but the same functionality exists under “Cover Travel Purchases.” You can still use your miles to get reimbursed for eligible travel purchases made in the last 90 days.
Do I need to redeem miles within 90 days?
Yes. You must redeem within 90 days of the purchase posting to your account. Miles themselves don’t expire while your account is open, but a specific transaction’s eligibility does.
Can I cover only part of a purchase?
Yes. You can use whatever miles you have to offset part of a charge. You’ll receive a credit for that portion, and the remaining balance stays on your card.
What qualifies as a travel purchase?
Travel-related expenses such as airfare, hotels, car rentals, cruises, tolls, parking, trains, or ride-shares typically qualify. Some experiences, like amusement park tickets, may not qualify if coded as “entertainment” rather than “travel.”
How much are Capital One miles worth?
Each mile is worth $0.01 when you use them toward travel purchases or through Capital One Travel. Other redemption options (like cash back or gift cards) offer roughly half that value.
The Bottom Line
While the “Purchase Eraser” name may be gone, Capital One’s “Cover Travel Purchases” feature continues to offer cardholders one of the easiest and most flexible ways to use miles. You can book travel however you like — directly with airlines, hotels, or third-party sites — and later use your miles to get reimbursed for those charges.
This flexibility makes Capital One miles especially valuable for travelers who want simplicity and strong redemption value without dealing with loyalty program restrictions.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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