Making sure you have the right credit card for your budget and spending is one of the best ways to save money on your everyday purchases.
And if a large portion of your monthly budget goes to Amazon.com, you can save with a card that lets you redeem your points for purchases on the site. The world’s largest retailer partners with a number of rewards programs, including American Express Membership Rewards and Chase Ultimate Rewards to help you redeem your travel credit card rewards points for purchases.
If you have an eligible Capital One credit card, you can also redeem for purchases on Amazon. These aren’t limited to Capital One miles-earning cards; popular Capital One cash back and business credit cards offer the option to shop with points through Amazon, too.
Here’s how you can redeem your Capital One rewards on Amazon — along with information to help you decide when it’s a good idea to do so and when you should pass.
Capital One Amazon Shop with Points Overview
Redeeming your Capital One rewards on Amazon is fairly simple. Capital One redemptions work the same as other credit card issuers within the Amazon Shop with Points Program, like American Express and Chase.
To do so, add your eligible Capital One credit card as a payment option in your Amazon account. You’ll have to enroll that card in Amazon’s Shop with Points Program by adding the card number, your name, and expiration date.
Once your card is enrolled in the program, you’ll be able to see your rewards balance. Each time you checkout on Amazon, you can opt to use Capital One rewards for all, a portion, or none of your purchase.
Eligible Capital One Credit Cards
Before you can redeem your Capital One miles or cash back on Amazon, you’ll want to make sure you have an eligible credit card. According to Capital One, the following cards are eligible to redeem rewards on Amazon:
- Capital One Quicksilver® Rewards Credit Card
- Capital One QuicksilverOne® Rewards Credit Card
- Capital One Venture® Rewards Credit Card
- Capital One VentureOne® Rewards Credit Card
- Capital One Savor® Rewards Credit Card
- Capital One SavorOne® Rewards Credit Card
- Journey® Student Rewards from Capital One
- Capital One Spark® Cash Plus
- Capital One Spark® Cash Select
- Capital One Spark® Miles
- Capital One Spark® Miles Select
- Capital One Spark® Classic
Before applying for any new credit card, evaluate your spending and budget to determine which one works best for you. Here’s a closer look at a few of our favorite options available today from Capital One:
Capital One Venture® Rewards Credit Card
The Capital One Venture card is a travel rewards credit card that earns 2 miles per dollar on every purchase. It has a $95 annual fee and comes with up to a $100 fee credit for TSA PreCheck/Global Entry. It’s also offering a 60,000-mile welcome bonus after you spend $3,000 in the first three months.
Quicksilver from Capital One
The Capital One Quicksilver credit card is a no annual fee cash back credit card that earns a fixed rate of 1.5% cash back on every purchase. You can earn a welcome cash bonus of $200 once you spend $500 within your first three months of account opening.
Savor Rewards from Capital One
The Savor Rewards credit card is another cash back credit card and has a $95 annual fee. Instead of flat rewards, it earns bonus rewards in specific categories, and is geared toward those who spend a good portion of their budget on dining and entertainment. It earns 4% cash back on dining, entertainment, and popular streaming services, 3% at grocery stores and 1% on all other purchases. You can earn a $300 cash bonus after you spend $3,000 on purchases within the first three months of account opening.
We also like the Savor’s sister card, the Capital One SavorOne, which offers similar rewards but has no annual fee. You’ll earn unlimited 3% back on dining, entertainment, popular streaming services, and at grocery stores, and 1% back on everything else. You can get a $200 cash bonus after spending at least $500 within the first three months of account opening. If you don’t want to pay an annual fee but you spend a lot in these categories, this card may bring you just as much value as the Savor over time.
- Intro bonus:60,000 miles
- Annual fee:$95
- Regular APR:15.99% – 23.99% (Variable)
- Recommended credit:670-850 (Good to Excellent)
- Learn more at our partner’s secure site.
- Intro bonus:$200
- Annual fee:$0
- Regular APR:14.99% – 24.99% (Variable)
- Recommended credit:670-850 (Good to Excellent)
- Learn more at our partner’s secure site.
Redeeming Capital One Rewards on Amazon
When you’re ready to redeem your Capital One rewards on Amazon, add your purchases to your Amazon cart as you normally would. When you go to check out, select your eligible Capital One credit card as the payment method.
You can also save on your Amazon spending with the Amazon Prime Rewards Visa Signature Card, one of our favorite co-branded card options available today. Eligible Prime members can get 5% back at Amazon and Whole Foods, 2% back at restaurants, gas stations, and drugstores, and 1% back on everything else.
From there, you’ll be able to see the rewards you have available, and can choose the amount you would like to use to cover your purchase.
Even if your eligible card is linked, you do not have to redeem Capital One miles for Amazon purchases unless you choose to. You can also use the card to pay for your purchases normally, and save your points for another time.
How to Get the Most Value from Capital One Rewards
Redeeming your rewards through Amazon may be convenient, but it’s generally not the best use of your rewards.
Cash Back Cards
If you earn cash back rewards with your Capital One card — like the Quicksilver or Savor cards, for example — you can redeem your rewards for the value they’re worth in cash. In other words, if you have $50 in cash rewards on your account, you can redeem that for $50 worth of Amazon purchases.
Because that’s the same value you’d get as redeeming for statement credits or cash, it can make sense to use your cash rewards on Amazon. Just remember that you’ll lose the flexibility the other options may offer.
What’s more, you also won’t earn any cash back on purchases you use points to pay for. If you want to maximize your spending, you could instead use your card to make your Amazon purchase, earn cash back on that purchase, then redeem your rewards for statement credits equal to the value of the purchase — so you don’t lose any potential rewards.
If you have a Capital One card that earns miles, like the Capital One Venture, you’ll typically get the most value by redeeming them for travel, either through Capital One’s travel portal, by transferring to partners (like TrueBlue or Air Canada Aeroplan), or using the Purchase Eraser tool to cover the cost of purchases on your statement. These redemption options can potentially boost your miles value above 1 cent per mile, depending on your specific redemptions.
You can still redeem your rewards for a value of 1 cent per mile, but it’s typically not a good idea to redeem your Capital One miles on Amazon purchases.
Tionna Hicks, a certified financial education instructor and founder of The Honest Plan, a personal finance blog, found that out the hard way when she chose to redeem her Venture card miles for Amazon purchases. Later, she discovered she didn’t get the full value of her miles using that redemption method.
“Instead of me actually doing my due diligence and looking at the conversion rates, I was using my miles and redeeming them on Amazon and making my purchases completely free,” she says.
Once she realized the lost value, Hicks started saving her miles to use toward travel instead — eventually reducing the out-of-pocket costs of her wedding. “When I realized what I was doing wrong, I let my miles stack up for my honeymoon and was able to do my honeymoon on points plus $300.” Hicks was also able to use her miles to fly a friend to her wedding, adding that was “more valuable than any Amazon purchase.”
There is one major exception to this rule. Capital One regularly has promotions throughout the year offering a discount — such as $20 off a $40 purchase — when you use your miles to cover at least part of your Amazon purchase. There is no minimum to the amount of miles you can use, so even using just 1 mile you can trigger the promotion on an eligible purchase for the least amount of miles possible.
While there was no ongoing promotion when this article was originally published, you can check for any current promotions on Amazon’s website.
How to Maximize Earning Capital One Rewards
If you’re looking to increase your Capital One rewards balance, there are a few ways to do so.
If your budget allows, apply for a card that offers a solid sign-up bonus. If you hit the minimum spending requirements in the set timeframe, you can earn a good chunk of cash back or miles rewards. For example, the Capital One Venture card is offering a 60,000-mile bonus after you spend $3,000 on purchases in the first three months.
Next, figure out your card’s most valuable redemption options. If you think you’ll be tempted to use your stash of miles on low-value redemptions such as PayPal or food delivery instead of higher-value redemptions, Hicks suggests unsubscribing from the issuer’s email list. That way, you won’t be notified about low-value redemption opportunities and can save your rewards for redemptions you really want.
Over time, continue to monitor your spending to make sure you have the right card for your budget. If you have a card that earns rewards in the categories you spend most, you can get the greatest value on the purchases that already fall within your budget. For example, the Capital One Savor card earns 4% cash back on dining, entertainment and popular streaming services, as well as 3% cash back at grocery stores, making it a great choice for people who like to go out or entertain at home.
Before applying for any new credit card — Capital One or otherwise — consider your lifestyle habits and budget to find a card that can help you maximize your earnings without overspending on balances you can’t afford to pay off.