The Venture and Spark cards were previously useful for earning rewards that could be redeemed as cash towards a travel purchase, though the miles can now be transferred to airlines and hotels as well.
Capital One currently 17 transfer partners, including some hotel partners!
You can now transfer Capital One miles to JetBlue
As of today (May 1, 2019) Capital One has added JetBlue TrueBlue as a transfer partner.
This represents Capital One’s first US airline transfer partner. There will be no fees to transfer points to JetBlue, which is great news (Amex charges a federal excise tax when transferring points to a US frequent flyer program). Here’s how transferring Capital One miles to airline partners works.
While this is a nice addition, I’d note that Amex Membership Rewards, Chase Ultimate Rewards, and Citi ThankYou all partner with JetBlue, so this isn’t exactly a unique partnership.
For context, here are Capital One’s previous transfer partners:
|Transfer Partner||Transfer Ratio|
|Aeromexico (Club Premier)||2 : 1.5 | 1000 : 750|
|Air Canada (Aeroplan)||2 : 1.5 | 1000 : 750|
|Air France KLM (Flying Blue)||2 : 1.5 | 1000 : 750|
|Alitalia (MilleMiglia Program)||2 : 1.5 | 1000 : 750|
|Avianca (LifeMiles)||2 : 1.5 | 1000 : 750|
|Cathay Pacific (Asia Miles)||2 : 1.5 | 1000 : 750|
|Emirates (Emirates Skywards)||2 : 1 | 1000 : 500|
|Etihad Airways (Etihad Guest)||2 : 1.5 | 1000 : 750|
|EVA Air (Infinity MileageLands)||2 : 1.5 | 1000 : 750|
|Finnair (Finnair Plus)||2 : 1.5 | 1000 : 750|
|Hainan Airlines (Fortune Wings Club)||2 : 1.5 | 1000 : 750|
|JetBlue (JetBlue TrueBlue)||2 : 1 | 1000 : 500|
|Qantas (Qantas Frequent Flyer)||2 : 1.5 | 1000 : 750|
|Qatar Airways (Privilege Club)||2 : 1.5 | 1000 : 750|
|Singapore Airlines (KrisFlyer)||2 : 1 | 1000 : 500|
As of February 4, 2020, Capital One miles are transferrable to JetBlue at a 2:1.5 ratio
Is transferring Capital One miles to JetBlue worth it?
JetBlue TrueBlue is a revenue-based program, meaning that the cost of an award redemption is closely correlated to how much a ticket would cost in cash.
Ordinarily, JetBlue points can be redeemed for ~1.3-1.5 cents each towards the cost of a paid ticket on JetBlue.
So, what does that mean for the value proposition of transferring Capital One miles to JetBlue?
- Capital One’s premium Venture and Spark miles offer 2x miles per dollar spent
- This means that long term you’d be earning the equivalent of 1.5 JetBlue points per dollar spent (a value of ~1.95-2.25 cents)
What makes this interesting is that Capital One Spark and Venture miles can efficiently be redeemed towards the cost of travel, as you can redeem each Venture or Spark mile for one cent towards an airfare purchase.
So long term you might be better off booking your JetBlue ticket with your Venture or Spark card, and then reimbursing yourself at the rate of one cent per point. That way you’d earn JetBlue TrueBlue points for the cost of your ticket.
Now, there are some circumstances where members may get more value transferring from TrueBlue, like if you have JetBlue’s co-branded credit card and get a 10% refund on redeemed miles, or if JetBlue is offering an award sale.
JetBlue Mint is my favorite way to travel domestically
It’s good to see Capital One adding more transfer partners, and also to see them offering transfer bonuses.
I’d love to see Capital One add some unique transfer partners. Still, more options are always a good thing, and I’m sure some people will take advantage of this partnership.
Are there any circumstances under which you’d transfer Capital One miles to JetBlue?