Lounge Frog guide
Is your Capital One Miles award a good deal?
Enter the cash price and the miles an award costs. See what each is worth on it and whether using them beats paying cash.
The same booking, paid in cash.
What the award costs.
Cash still due on the award.
Fair deal
1.80¢each
The same as the usual 1.8¢. The award saves $450; at the usual value the miles are worth $450, so using miles and paying cash come out even.
- Great deal at up to
- 20,833
- Breaks even at
- 25,000
- Poor deal above
- 27,777
Set against a typical redemption value of 1.8 US cents each: 20% or more above it is a great deal, more than 10% below it a poor one.
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<script async src="https://www.loungefrog.com/embed.js"></script>The short answer
Using Capital One Miles on an award is a good deal when it saves you 2.16¢ or more in cash for each one: 20% above the 1.8¢ Lounge Frog values them at. Under 1.62¢ each it is a poor deal, and paying cash keeps the miles for a better award. An award that saves $500 is a great deal at up to 23,148 miles, breaks even at 27,777 and is poor above 30,864.
- Great deal
- 2.16¢+
- Typical value
- 1.8¢
- Poor deal
- under 1.62¢
How many miles should an award cost?
Find the cash the award saves (its cash price less taxes and fees), then read across. Fewer miles than the first figure is a great deal; more than the last, a poor one.
| Cash saved | Great deal up to | Breaks even at | Poor deal above |
|---|---|---|---|
| $100 | 4,629 | 5,555 | 6,172 |
| $250 | 11,574 | 13,888 | 15,432 |
| $500 | 23,148 | 27,777 | 30,864 |
| $1,000 | 46,296 | 55,555 | 61,728 |
| $2,500 | 115,740 | 138,888 | 154,320 |
How to work it out yourself
Find the cash price. Look up what the same flight, room or purchase costs in cash, on the same dates and in the same cabin or room type.
Take away what you still pay. Subtract the taxes, fees and any cash part of the award. What is left is the cash the award saves you.
Divide by the miles. Divide the cash saved by the miles the award costs, then multiply by 100 for cents per mile.
Compare with the program's value. Set the result against 1.8¢: 2.16¢ or more is a great deal, 1.62¢ to 2.16¢ a fair one, and under 1.62¢ a poor one.
The 1.8¢ is Lounge Frog's estimate of what a Capital One Miles mile usually returns, an average across typical awards; any one award can be worth much more or less. Prices in other currencies are converted with ECB reference rates of 2026-10-16. An educational estimate, not financial advice.
Capital One Miles award questions
Is your Capital One Miles award a good deal?
It is when each of your miles saves 2.16¢ or more in cash, 20% above the 1.8¢ Lounge Frog values them at. Between 1.62¢ and 2.16¢ it is a fair deal, about even with paying cash; under 1.62¢ it is a poor one, and paying cash keeps the miles for a better award.
How many Capital One Miles should a $500 award cost?
If the award saves $500 in cash after taxes and fees, up to 23,148 miles is a great deal, 27,777 breaks even with Lounge Frog's 1.8¢ value, and more than 30,864 is a poor deal. For a $1,000 saving the same lines fall at 46,296, 55,555 and 61,728.
What is a good value for Capital One Miles?
2.16¢ or more each is a good redemption: 20% above Lounge Frog's estimate of 1.8¢, an average across typical awards. Any one award can be worth much more or less, so check yours.
How do I work out what my miles are worth on an award?
Find the cash price: Look up what the same flight, room or purchase costs in cash, on the same dates and in the same cabin or room type. Take away what you still pay: Subtract the taxes, fees and any cash part of the award. What is left is the cash the award saves you. Divide by the miles: Divide the cash saved by the miles the award costs, then multiply by 100 for cents per mile. Compare with the program's value: Set the result against 1.8¢: 2.16¢ or more is a great deal, 1.62¢ to 2.16¢ a fair one, and under 1.62¢ a poor one.
Do taxes and fees count?
Yes. Subtract them from the cash price first, since you pay them either way. On an award that costs $500 in cash and $50 in taxes and fees, the miles save $450, not $500.