When it comes to collecting points through credit card spend, I’ve long recommend earning a transferable points currency, which gives you the flexibility to transfer points to a variety of airline partners.
As of now, Amex Membership Rewards, Chase Ultimate Rewards, and Citi ThankYou are the “big three” currencies. Barclays has also tried to introduce a transferable points currency with the new Barclay Arrival Premier, but that hasn’t been very popular, and it seems like they’re regrouping, as the card isn’t open to new members at the moment.
Well, today Capital One has announced that they’re introducing a transferable points currency, and the details are super exciting.
Capital One miles will be transferable to select airlines and hotels!
Those who earn Venture miles or Spark miles will soon be able to transfer their miles to 14 travel loyalty programs, including popular options like Air Canada Aeroplan, Avianca LifeMiles, Etihad Guest, Air France-KLM Flying Blue, and more. This new feature is expected to go live in early December.
As the program has evolved, there are now 17 loyalty programs that Capital One has partnered with:
|Aeromexico Club Premier||Accor Live Limitless (ALL)|
|Air Canada Aeroplan||Wyndham Rewards|
|Air France/KLM Flying Blue|
|Cathay Pacific Asia Miles|
|EVA Air Infinity MileageLands|
|Hainan Fortune Wings Club|
|Qantas Frequent Flyer|
|Qatar Airways Privilege Club|
|Singapore Airlines KrisFlyer|
What will the transfer ratio be?
Currently the Capital One® Venture® Rewards Credit Card and Capital One® Spark® Miles for Business earn two miles per dollar spent, and each of those miles can be redeemed for one cent towards the cost of a travel purchase. That option will remain, meaning each dollar spent on the cards will continue to earn the equivalent of two cents you can redeem towards travel.
So, what will the transfer ratio for these cards be? You’ll be able to transfer Spark and Venture miles into partner airline miles or hotel points at a ratio of up to 2:1.5 ratio.
This means that both cards will essentially offer up to 1.5 miles per dollar spent, which is a solid return. This is especially solid when you consider that the alternative is earning two cents towards travel per dollar spent on these cards, which is also competitive.
These will be very flexible cards.
This is such a fantastic development on the part of Capital One, since these cards will be so flexible. The cards already offered great flexibility with points being redeemable towards the cost of virtually any travel purchase, but now you’ll also be able to convert them into airline miles at a pretty favorable ratio.
While Capital One lacks the bonus categories offered by some other cards, for your everyday, non-bonused spend, this is a return that is pretty tough to beat, as every dollar spent will earn you either two cents worth of rewards towards travel, or 1.5 airline miles or hotel points.
What do you make of Capital One’s new transferable points currency?