In late 2018, Capital One introduced the ability to convert Venture and Spark miles into airline miles, essentially creating a new transferable points currency.
This program has been considerably improved over time, with new transfer partners added, as well as transfer ratios improved.
Capital One miles transfer 1:1 to most partners
When the Capital One mileage transfer program launched, Capital One miles could be converted into airline miles at a ratio of up to 2:1.5. Then in the spring of 2021, we saw Capital One improve the transfer ratio for some partners to 1:1, and also add more transfer partners. Currently, Capital One has 18 transfer partners.
Capital One miles convert into airline miles at a 1:1 ratio with 16 of 18 of their transfer partners. These include:
- Aeromexico Club Premier
- Air Canada Aeroplan
- Air France-KLM Flying Blue
- Avianca LifeMiles
- British Airways Executive Club
- Cathay Pacific Asia Miles
- Choice Privileges
- Emirates Skywards
- Etihad Guest
- Finnair Plus
- Qantas Frequent Flyer
- Singapore Airlines KrisFlyer
- TAP Air Portugal Miles&Go
- Turkish Airlines Miles&Smiles
- Virgin Red (the overall loyalty program for the Virgin brand, rather than just Virgin Atlantic Flying Club)
- Wyndham Rewards
At this point which partners don’t offer 1:1 transfers?
- Accor Live Limitless (ALL), where transfers are 2:1
- EVA Air Infinity MileageLands, where transfers are 2:1.5
As you can see, most Capital One mileage transfers are at a 1:1 ratio, and for that matter, I’d say all the useful partners offer 1:1 transfers.
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 necessarily. 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, Capital One cards 2x airline miles per dollar spent for a vast majority of transfer partners, 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 (earned as ThankYou Points); 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
Capital One has significantly improved its mileage transfer program. Capital One miles convert into partner loyalty points at a 1:1 ratio with all but a couple of partners. This is major since it really puts the value of Capital One miles on par with the value of other major transferable points currencies.
When you consider that cards like the Capital One Venture and Capital One Spark offer 2x miles per dollar spent, that means you can also earn 2x airline miles per dollar spent. That’s awesome and makes these the first cards that directly earn 2x airline miles, with no spending caps, and no requirements to have other cards.
What do you make of these improvements to Capital One mileage transfers? Will it change whether or not you use Capital One cards?