The Thrifty Traveler Podcast · Tuesday, September 8, 2026
Using a bank's travel portal, like Chase's or American Express's, is an easy way to redeem credit card points, typically at a flat rate of 1 cent per point. While simple, this method generally offers less value compared to transferring points to partners. Capital One offers a 'purchase eraser' feature allowing users to book travel on their card and then use miles to remove the charge, also at a 1 cent per mile rate.
“And generally speaking, when you're redeeming points directly through Chase, directly through American Express like this, you're getting a flat value of 1 cent per point. So if you're trying to book a $500 flight, you can book that for 50,000 points. Is that simple? Absolutely, it is incredibly easy to understand. There's a reason why this is the entry point for most people. It's also not that valuable.”
“Capital One allows you to instead of just using its travel portal, you can use what they used to call a purchase eraser. So instead of booking through a portal, you just book any travel expense, whether that's a flight, a hotel, a B&B, a cruise, whatever on your Capital One card. Go back a couple of days later, and erase it from your statement using your Capital One miles. Again, every mile is worth a single cent.”