This is major! In late 2018, Capital One introduced the ability to convert Venture and Spark miles into airline miles, essentially creating a new transferable points currency.
Well, today the program has announced some other significant improvements, which should get people excited. This includes more transfer partners and a new 1:1 transfer ratio for select partners. This news is on top of Capital One revealing plans to open airport lounges.
With these changes, personally, I now value Capital One miles at 1.7 cents each.
Capital One adds four more mileage transfer partners
Capital One will be adding four additional partner airline and hotel loyalty programs, including:
- British Airways Executive Club, which has been added as of April 20; convert at a 2:1.5 ratio
- TAP Air Portugal Miles&Go, which has been added as of April 20; convert at a 1:1 ratio
- Turkish Airlines Miles&Smiles, which has been added as of April 20; convert at a 2:1.5 ratio
- Choice Privileges, which is being added later in 2021; miles will convert at a 1:1 ratio
This is fantastic to see, particularly British Airways Executive Club and Turkish Airlines Miles&Smiles, given what useful programs they are.
Turkish Miles&Smiles is being added as a Capital One transfer partner
Capital One adds 1:1 mileage transfers
I’d argue that this is much more exciting news. Most programs transfer at a 1:1 ratio.
There’s no denying that some of these partners are more useful than others. In particular, being able to transfer Capital One miles to Avianca LifeMiles, Cathay Pacific Asia Miles, and Etihad Guest potentially sounds like a great opportunity.
Transfer Capital One miles to Etihad Guest at a 1:1 ratio
Why this development is significant
You might be thinking to yourself “well shouldn’t Capital One have offered 1:1 mileage transfers all along, like other programs?” Not quite.
Keep in mind that:
- The Capital One Venture Rewards Credit Card (review) offers 2x Venture miles per dollar spent
- The Capital One® Spark® Miles for Business (review) offers 2x Spark miles per dollar spent
Given the previous transfer ratio of up to 2:1.5, you were earning up to 1.5 airline miles per dollar spent on the card, which was solid for non-bonused spending. Well, now Capital One cards offer up to 2x airline miles per dollar spent, which is pretty awesome.
In fairness, Capital One isn’t the first issuer to offer up to 2x airline miles per dollar spent, though the other options have limits or require jumping through some hoops:
- The Blue Business Plus Credit Card from American Express (review) offers 2x Membership Rewards points on the first $50,000 spent every calendar year (1x after that)
- The Citi® Double Cash Card (review) offers 1% cash back when you make a purchase and 1% cash back when you pay for that purchase; in conjunction with a card like the Citi Premier® Card (review), rewards can be converted into Citi ThankYou points at a rate of one cent per point
Transfer Capital One miles to Cathay Pacific Asia Miles at a 1:1 ratio
Capital One is significantly improving its mileage transfer program. We’re seeing four more partner programs added, meaning that Capital One will soon have a total of 19 airline and hotel partners. On top of that, points transfers to nine programs will be at a 1:1 ratio. This significantly improves the value proposition of spending money on Capital One cards, at least for those looking to earn airline miles or hotel points.
What do you make of these changes to Capital One mileage transfers? Will it change whether or not you use Capital One cards?