Capital One Adds JetBlue TrueBlue As Mileage Transfer Partner

The Capital One mileage program has just added its newest transfer partner. It’s great to have more options, though the value proposition here isn’t necessarily that great.

Transfer Capital One miles to JetBlue at a 5:3 ratio

The Capital One mileage program has just added JetBlue TrueBlue as its newest transfer partner. Capital One miles convert into JetBlue TrueBlue points at a 1,000:600 ratio, and transfers are instant. Keep in mind that many Capital One cards, like the the Capital One Venture X Rewards Credit Card (review), earn 2x miles per dollar spent, so you could be earning more than one JetBlue point per dollar spent.

Interestingly, this isn’t actually the first time that Capital One and JetBlue have partnered. The two companies had a partnership in place from 2019 until 2021, but then cut ties. Clearly JetBlue is trying to generate more revenue from its loyalty program, and I imagine this initiative is part of that.

Of the four major transferable points currencies, Capital One was the only one not partnering with JetBlue TrueBlue. So you really have your pick of which program you’d like to use for these transfers.

Is transferring Capital One miles to JetBlue TrueBlue worth it?

While it’s nice to see Capital One adding a new transfer partner, I’d say that in most situations, this probably doesn’t represent a great deal. This is for a couple of reasons.

First of all, among the transferable points currencies partnering with JetBlue TrueBlue, Capital One has the worst transfer ratio. Chase Ultimate Rewards points and Citi ThankYou points can be transfered to TrueBlue at a 1:1 ratio, while Amex Membership Rewards points can be transfered to TrueBlue at a 5:4 ratio, all of which beats the 5:3 ratio we’re looking at here.

Second of all, when it comes to redeeming JetBlue TrueBlue points, keep in mind that the program is revenue based for redemptions on JetBlue flights. You can generally expect you’ll get at most 1.5 cents (or so) per point toward the cost of a ticket (and less than that if redeeming for Mint business class).

So when you consider the 5:3 transfer ratio, you’re looking at getting less than a cent per Capital One mile toward a JetBlue flight. I wouldn’t consider that to be a great deal, especially when Capital One miles can also be redeemed for one cent each toward the cost of virtually any airline ticket.

While JetBlue TrueBlue has some redemption options on partners, you’re unlikely to get outsized value with this transfer ratio.

Bottom line

Capital One has added JetBlue TrueBlue as a transfer partner, which is the restoration of a partnership that was cut back in 2021. Capital One was the only major transferable points currency not to partner with JetBlue, so I’m not surprised to see this happen. However, don’t expect this to be all that valuable.

Could you see yourself transferring Capital One miles to JetBlue TrueBlue?