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Capital One Upgrades Miles With Better Transfer Rates, New Partners

Capital One Upgrades Miles With Better Transfer Rates, New Partners

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Capital One, previously lagging behind its competitors in the transferable miles space, has significantly improved both the value and the variety of its transfer partners. Most notably, Capital One offers transfer partners that are unique to its program at a ratio that can be rewarding for cardholders.

At the same time, the bank is also premiering a lounge program and offered an enhanced welcome bonus on the Capital One Venture Rewards Credit Card. Let’s take a closer look at the new offerings and see where the value lies.

More Rewarding Transfers

With the new program, Capital One Miles will transfer to the following hotel and airline partners at 1:1 ratio as of April 20, 2021:

  • Avianca LifeMiles
  • Asia Miles
  • AeroMexico Club Premier
  • Etihad Guest
  • Finnair Plus
  • Qantas Frequent Flyer
  • TAP Air Portugal Miles&Go (NEW)
  • Wyndham Rewards
  • Choice Privileges (NEW, later in 2021)

Of this list of rate increases, Wyndham Rewards is especially compelling because they have no other credit card transfer partner and with their recent partnership with Vacasa you can use Wyndham Rewards points for a large selection of privately owned vacation rentals.

The following partners transfer at a ratio of 2:1.5:

  • Air France/KLM Flying Blue
  • Air Canada Aeroplan
  • Alitalia Millemiglia
  • Eva Air Infinity MileageLands
  • Turkish Airlines Miles&Smiles (NEW)
  • British Airways Avios (NEW)

The following partners transfer at 2:1:

  • Accor Live Limitless
  • Emirates Skywards
  • Singapore Airlines Krisflyer

Bumped-Up Welcome Bonus

If you can manage the spending requirement, Capital One has an especially lucrative welcome bonus on the Venture card: Earn 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3,000 on purchases in the first 3 months.

The Capital One® Spark® Miles for Business* also has a compelling offer: Earn a one-time bonus of 50,000 miles – equal to $500 in travel – once you spend $4,500 on purchases within the first 3 months from account opening as the welcome bonus.

New Lounge Options

Capital One has had a 2022 airline lounge at Washington Dulles (IAD) in the works for a while now, but now also has plans for a lounge at Dallas-Fort Worth (DFW) opening this summer. The lounges are being marketed in a way that sounds like they will complete with American Express Centurion Lounges.

At this time much is unknown, including the price of entry, guest access and if any further lounges are planned. This is definitely something to watch, especially in the wake of American Express announcing it will restrict guest access to its Centurion lounges starting in 2023 and Priority Pass cutting the Plaza Premium lounge network from its list.

Bottom Line

Capital One Miles used to transfer at a rate less than most of its competitors: 2:1.5 vs 1:1 offered by the other banks for many programs. Now Capital One is matching what others have to offer, making the Spark Miles and Venture Card’s 2 miles per dollar earn rate on all purchases much more compelling. Even the Capital One VentureOne Rewards Credit Card and Capital One® Spark® Miles Select for Business*, with no annual fee, become more competitive products.

Adding to the value proposition is the addition of airline lounges. Between the two developments and the increased welcome bonus, the Capital One Venture or Spark Miles may deserve a place in your wallet.

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