Venture Question

[Atonswife]

Hi All...

I just checked Cap One's pre-qual site and I was pre-qualified for the both the QS Visa Sig and the Venture Card. My question is can you redeem your rewards on the Venture even if it doesn't cover the full travel expense? For example: If I book a getaway vacation thorugh Jetblue Getaways and the total cost is $900, if I only have $400 in rewards, can I redeem that as a statement credit and only pay my remaining balance of $500 to the card? OR do I have to have a full $900 in rewards available in order to have this applied to as a statement credit for this travel purchase?

I swear I searched this before asking but maybe I phrased my question the wrong way in the search box. So if anyone has a link I would be more than grateful if you can post it and I will read on my own. If not any feedback would be more than appreciated.

Thanks

[ScoreOrBeScored]

Yes you may redeem your points/miles towards your travel purchase, even if it's not enough to cover it 100%.

$900 - $400 = $500 balance left from your purchase . Capital one is one of the easiest earn/redeeming programs.

[Atonswife]

Thank you so much for your reply ScoreOrBeScored!!!

[taxi818]

Once you get experience. you will see its called the purchase eraser. inside the app. specifically for travel expernse. not just tickets. hotels rent a cars. even gas. Bus tickets. airlines. trains. all types of travel related things. taxis. . so much hard to explain. but you can use it for any of that. otherwise. if you just want a statement credit for cash. you will lose value on it. good luck.

[Anonymous]

If you get the Venture, 40000 rewards miles will not be equal to $400 if you redeem it for a statement credit.. It will be less.  Gift card- Yes.  Statement credit- NO.

Better explaination from someone I follow-

Travel eraser: this lets you use your miles against travel purchases. Each mile is worth one cent. For example, let’s say you purchase a $200 plane ticket. You could apply 20,000 miles to this purchase and you’d no longer have to pay for that purchase. If you used this option the bonus would be worth $400. People have reported that the following are available for redemption (keep in mind this might not always be the case, YMMV): Flights, hotels, car rental, tolls, taxis. Travel charges can be redeemed against for a period of 90 days after the purchase is made and there is a minimum redemption of $10. You have to redeem in increments of 1/10th of the total charge. For example if you purchase airline tickets for $1,000 you can only redeem in increments of $100. 
Gift cards: When you redeem for gift cards you get one cent per mile value as well. Amazon is one of the included gift cards. Minimum redemption on gift cards is $10.

[Atonswife]

Wow! Thank you taxi818 and Yes-Its-Me. This is some great info. I have more than enough monthly spend to meet the bonus and even make the annual fee worth it. I just want to make sure that the card itself is worth it. Living in NYC I do take cabs, tolls etc. so i'm thinking this may be a cool card.

[northface28]

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@Anonymous wrote:

If you get the Venture, 40000 rewards miles will not be equal to $400 if you redeem it for a statement credit.. It will be less.  Gift card- Yes.  Statement credit- NO.

Better explaination from someone I follow-

Travel eraser: this lets you use your miles against travel purchases. Each mile is worth one cent. For example, let’s say you purchase a $200 plane ticket. You could apply 20,000 miles to this purchase and you’d no longer have to pay for that purchase. If you used this option the bonus would be worth $400. People have reported that the following are available for redemption (keep in mind this might not always be the case, YMMV): Flights, hotels, car rental, tolls, taxis. Travel charges can be redeemed against for a period of 90 days after the purchase is made and there is a minimum redemption of $10. You have to redeem in increments of 1/10th of the total charge. For example if you purchase airline tickets for $1,000 you can only redeem in increments of $100. 
Gift cards: When you redeem for gift cards you get one cent per mile value as well. Amazon is one of the included gift cards. Minimum redemption on gift cards is $10.

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Im sorry, this isnt making sense. For example, if I buy a $500 ticket, I cant use the 40,000 miles as a $400 statement credit?

[taxi818]

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@northface28 wrote:

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@Anonymous wrote:

If you get the Venture, 40000 rewards miles will not be equal to $400 if you redeem it for a statement credit.. It will be less.  Gift card- Yes.  Statement credit- NO.

Better explaination from someone I follow-

Travel eraser: this lets you use your miles against travel purchases. Each mile is worth one cent. For example, let’s say you purchase a $200 plane ticket. You could apply 20,000 miles to this purchase and you’d no longer have to pay for that purchase. If you used this option the bonus would be worth $400. People have reported that the following are available for redemption (keep in mind this might not always be the case, YMMV): Flights, hotels, car rental, tolls, taxis. Travel charges can be redeemed against for a period of 90 days after the purchase is made and there is a minimum redemption of $10. You have to redeem in increments of 1/10th of the total charge. For example if you purchase airline tickets for $1,000 you can only redeem in increments of $100. 
Gift cards: When you redeem for gift cards you get one cent per mile value as well. Amazon is one of the included gift cards. Minimum redemption on gift cards is $10.

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Im sorry, this isnt making sense. For example, if I buy a $500 ticket, I cant use the 40,000 miles as a $400 statement credit?

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Of course you can' dont see why it's confusing. if you use the credit for travel expenses. it is full amount. The bottom line. if you don't use the credit for travel expenses and say you want cash for the 40.000 miles you will only get $200 cash. half otherwise. you get full value for travel related expense. remember 2miles per dollar for every purchase everywhere.

[northface28]

Ahh, now I follow, Im a dolt. I read statement credit and just assumed, I know you lose half the value when you redeem for statement credit.