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UPDATE: Capital One transfers are now live. See our comprehensive post for details.
Capital One has announced a new airline transfer program which will join its fixed-value redemption options. We’re huge fans of flexible rewards currencies and, from first impressions, Capital One has produced a well thought out mileage transfer program featuring high-value partners and transfer ratios that will encourage many cardholders to move significant spend onto Capital One cards.
Up until now, you could only redeem miles earned on the Capital One® Venture® Rewards Credit Card and Capital One® Spark® Miles for Business as a statement credit against travel purchases. Each mile was worth 1¢ when redeemed against qualifying travel purchases. This feature will be retained, but Capital One will also add the ability to transfer to partners, so you can earn a minimum 2% back on purchases when redeemed at a fixed-rate for travel purchases, or up to 1.5 airline miles with one of 14 transfer partners.
While the Capital One cards don’t feature traditional bonuses categories like cards from other flexible rewards programs, the Capital One Venture card receives 10x miles per dollar on purchases from Hotels.com/Venture, and both cards earn 2x miles per dollar on every purchase, making these cards a top choice for everyday spend.
Capital One Airline Partners and Transfer Rates
From December, cardmembers earning Venture Miles or Spark Miles will have the ability to transfer rewards to 12 airline transfer partners at a 2:1.5 ratio, or 1,000 points will transfer to 750 airline miles, and 2 transfer partners at 2:1. How long it will take points to transfer is yet unclear, but we are hoping transfers will be quick.
|Transfer Partner||Transfer Ratio|
|Aeromexico Club Premier||2:1.5 or 1000:750|
|Air Canada Aeroplan||2:1.5 or 1000:750|
|Air France/KLM Flying Blue||2:1.5 or 1000:750|
|Alitalia MilleMiglia||2:1.5 or 1000:750|
|Avianca LifeMiles||2:1.5 or 1000:750|
|Cathay Pacific Asia Miles||2:1.5 or 1000:750|
|Emirates Skywards||2:1 or 1000:500|
|Etihad Guest||2:1.5 or 1000:750|
|EVA Air Infinity MileageLands||2:1.5 or 1000:750|
|Finnair Plus||2:1.5 or 1000:750|
|Hainan Airlines Fortune Wings Club||2:1.5 or 1000:750|
|Qantas Frequent Flyer||2:1.5 or 1000:750|
|Qatar Airways Privilege Club||2:1.5 or 1000:750|
|Singapore KrisFlyer||2:1 or 1000:500|
While there are no U.S. airlines currently on the list, there is a good crossover with transfer partners from other flexible rewards programs, meaning you can pool points earned across multiple transferrable currencies to help you reach your travel goals faster. Highlights include Flying Blue (transfers from every major flexible rewards currency), Avianca LifeMiles (transfers from Amex and Citi), and Aeroplan (transfers from Amex).
Earn Up To 1.5x Airline Miles or 2% Fixed-Rate on Everyday Spend
Cardholders will be able to transfer points earned via the Venture and Spark Miles range of rewards cards at the same transfer rate, including the no annual fee versions, although the no annual fee versions earn at a lower rate than their premium counterparts.
- Capital One® VentureOne® Rewards Credit Card – 1.25 Miles per dollar on every purchase, every day. Annual fee of $0
- Capital One® Venture® Rewards Credit Card – 2 Miles per dollar on every purchase, every day. Annual fee of $0 intro for first year; $95 after that
- Capital One® Spark® Miles for Business – 2 Miles per $1 on every purchase, every day. Annual fee of $0 intro for first year; $95 after that
- Capital One® Spark® Miles Select for Business – 1.5 Miles per $1 on every purchase, every day. Annual fee of $0
Take Advantage of Increased Welcome Bonuses
In addition to the new airline transfer program which is set to launch in December 2018, Capital One also revealed increased welcome bonuses on the Capital One® Venture® Rewards Credit Card and the popular Spark Miles. Not only can you receive a higher welcome bonus than is typically offered on these cards, but the miles you earn will have a higher value come December when you can begin transferring them to airline partners!
The Capital One Venture is offering 75,000 bonus miles once you spend $5,000 on purchases within the first 3 months from account opening. On top of that, you can earn 10x miles for purchases from hotels.com/venture (which also stacks with the Hotels.com rewards program returning as high as 10% on your hotel spend).
The Capital One® Spark® Miles for Business is offering a monster welcome bonus of up to 200,000 miles. Earn up to 200,000 miles: Earn a bonus of 50,000 miles when you spend $5,000 in the first 3 months and 150,000 miles when you spend $50,000 in the first 6 months of opening your account. Limited Time Offer
The increased bonuses on these cards already provide exceptional value for cards offering fixed-value rewards, but the ability to transfer the points earned on these cards to airline partners make them much more valuable.
The addition of transfer partners to the Capital One Rewards ecosystem is an awesome present for points and miles fans, providing credible competition to Amex, Citi, and Chase, and a viable alternative for folks caught out by application restrictions from other card issuers.
We would love to hear your thoughts on the new Capital One airline transfer program, and we’ll update this post as more information and data points become available.
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