The number of miles depends on whether you book through the Capital One Travel portal or use transfer partners. In the portal, miles have a fixed value of 1 cent per mile, so a $500 flight costs 50,000 miles. However, the "pro" move in 2026 is transferring miles to one of Capital One’s 15+ partners like Air Canada, British Airways, or Avianca. For example, you can often find a domestic U.S. flight on United for as low as 7,500 to 12,500 miles when transferred to a partner. Long-haul business class flights to Europe or Asia typically range from 60,000 to 90,000 miles one-way. Because Capital One miles transfer at a 1:1 ratio to most partners, they offer some of the most flexible "points" currency in the market, allowing you to bypass the fixed cash-price value for potentially much "cheaper" award seats.