Capital One—like American Express, Chase and Citi—issues credit cards that offer either cash back or flexible currency rewards.

Capital One’s flexible currency, referred to as miles, can be used in different ways, such as buying gift cards, reimbursing previous travel purchases, purchasing travel through Capital One's travel booking site or transferring miles to partners.

Let’s look at Capital One’s flexible currency and ways to use it.

Capital One Miles

For many people in the points and miles community, Capital One Miles have become more relevant and valuable in recent years as Capital One improved its rewards program.