Capital One cardholders can earn either miles or cash back with several cards eligible for the No Hassle Rewards program, states Card Hub. Capital one Venture, Quicksilver and Spark cards offer the No Hassle rewards, as of 2015.
Capital One Venture credit card is one of the most popular rewards credit cards on the market, as well as one of the best travel credit cards, according to Card Hub. It gives members a bonus of 40,000 miles if they spend $3,000 in the first three months, and a double earning rate on all purchases. Earnings from the No Hassle rewards program never expire and have no cap or minimum threshold. The cash-back reward is awarded in true cash. Since there are no points or miles involved in cash back, members do not have to worry about devaluation.
Redeeming for travel and gifts provides members the most value, which is about twice that of redeeming for merchandise and cash back, notes Card Hub. There are no limitations on travel provider options, travel dates or seat availability. Cash-back cardholders can set up automatic redemption based on a date or amount. There is no minimum for redeeming cash back. Purchase Eraser is a scheme for offsetting travel related purchases using miles accumulated as rewards, states Card Hub.