If you have a Capital One Venture card, you can now redeem your miles for food delivery and streaming services

Image
  • If you have the Capital One® Venture® Rewards Credit Card or the Capital One® VentureOne® Rewards Credit Card, you can now use your miles to pay for food delivery with DoorDash,Uber Eats, Postmates, and other services.
  • This new redemption option will be available through June 30.
  • To use your miles toward a food delivery purchase, charge the meal to your Capital One® Venture® Rewards Credit Card, then use the purchase eraser feature to wipe the charge from your account statement. Your miles will be worth 1 cent apiece.
  • Through June 30, you can also use Capital One miles to cover purchases with eligible streaming services like Netflix and Hulu from your account.
  • See Business Insider’s list of the best Capital One credit cards.

If you’ve been ordering lots of food delivery lately, you have plenty of rewards credit card options for earning bonus points or cash back on your spending. And now, Capital One has introduced an option for redeeming rewards for orders made through DoorDash and other delivery services.

If you have the Capital One® Venture® Rewards Credit Card or the no-annual-fee Capital One® VentureOne® Rewards Credit Card, through June 30 you’ll have the option to use miles to wipe eligible food delivery purchases from your account. You’ll also be able to use your miles to cancel out purchases made with select streaming services including Hulu and Netflix.

How to use Capital One miles for food delivery or streaming

One of the best features of Capital One credit cards that earn miles is the purchase eraser tool – this lets you redeem miles at a rate of 1 cent apiece to “erase” travel charges from your account. So if you spent $US125 on train tickets, you could redeem 12,500 miles to cancel out that charge.

Redeeming Capital One miles for food delivery or streaming service purchases works the same way: Just make an eligible purchase with your Venture or VentureOne card, then wait for the purchase to post on your account. Then, navigate to the rewards section of your online account and select “Cover Your Purchases.” You can select purchases made within the last 90 days and apply miles to “erase” them from your account.

According to The Points Guy, eligible food delivery services include:

You can also use your Capital One miles to cover orders placed directly with restaurants.

Eligible streaming services include:

Redeeming for food delivery and streaming purchases may not get you as much value for your Capital One miles as, say, transferring your rewards to airlines like Etihad and JetBlue and booking travel. That said, 1 cent per mile is a relatively good redemption rate, and if you’re looking to minimise your out-of-pocket expenses right now, this is a good way to put your stash of Capital One rewards to work.