Points Frog guide
American Express Membership Rewards vs Capital One Miles
American Express Membership Rewards points are worth more as of October 13, 2026: an estimated 2.1¢ each against 1.8¢ for Capital One Miles, 17% more per point. 50,000 come to about $1,050 against $900.
Values updated
| Measure | American Express Membership Rewards | Capital One Miles |
|---|---|---|
| Value per point | 2.1¢ | 1.8¢ |
| 10,000 worth | $210 | $180 |
| 50,000 worth | $1,050 | $900 |
| 100,000 worth | $2,100 | $1,800 |
| A great award | 2.52¢ or more a point | 2.16¢ or more a point |
| A poor award | under 1.89¢ a point | under 1.62¢ a point |
| Rewards currency | points | miles |
| Run by | American Express | Capital One |
| Ranked | 1 of 6, Transferable points | 4 of 6, Transferable points |
Values are Points Frog's estimates of one point redeemed for good, available awards, not cash-out or transfer rates. How we value points.
American Express Membership Rewards
Earned with: Amex Gold Card, Amex Platinum Card. Best cards by category
Capital One Miles
Earned with: Capital One Venture X, Capital One Venture. Best cards by category
Quick answers
Which is worth more, American Express Membership Rewards or Capital One Miles?
American Express Membership Rewards points are worth more as of October 13, 2026: an estimated 2.1¢ each against 1.8¢ for Capital One Miles, 17% more per point. 50,000 come to about $1,050 against $900.
How many Capital One Miles equal 50,000 American Express Membership Rewards points?
About 58,333. At 1.8¢ each, that many miles match the $1,050 estimated for 50,000 points at 2.1¢. This compares value only; the programs do not exchange points at this rate.
Is a higher value per point always better?
No. A program worth less per point can still win if it earns more points per dollar or per flight, or if its awards fly where you want to go. Compare what you would earn on your own spending and the awards you would book before choosing between American Express Membership Rewards and Capital One Miles.
Where do these values come from?
Points Frog's valuation catalog estimates what one point is worth when redeemed for good, available travel awards, in US cents. It is an editorial average, not a cash-out rate, and each program's page shows its dated valuation history.