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Capital One just announced the addition of a transfer program for their mileage currency!

I’m of the opinion that any competition is good competition, so adding a new currency to the mix is great!  Not sure what Barclays has to say about that…but we’ll see…

Capital one points will be transferrable to a number of airline programs at a rate of 2:1.5 for all airlines.  For every 1,000 Capital One points you have, you’ll get 750 partner miles, no matter which currency you’re transferring to.  A bit of a weird ratio for most programs, but 2 is a magic number for Capital One.  The Venture card and Spark Miles business card both earn 2 miles for every dollar.  So if you’re planning on transferring those hard-earned miles, you’re essentially getting 1.5 miles on every purchase.

This earning rate puts the cards on par with some of the lesser-known cobranded cards from Capital One’s transfer list:  Bank of America’s new Air France card and the Cathay Pacific card from Synchrony both earn 1.5 miles per dollar on everything, and triple miles on their respective airlines.  The BancoPopular Avianca Vuela Visa earns 3x miles on Avianca, 2x on gas and groceries, and 1x everywhere else.

Capital One Transfer Partners

Capital One will launch the program with the following 12 airline partners, but promises to add more in the future:

  • Aeromexico
  • Air Canada Aeroplan
  • Air France/KLM
  • Alitalia
  • Avianca
  • Cathay Pacific
  • Etihad
  • EVA
  • Finnair
  • Hainan
  • Qantas
  • Qatar

(SEE ALSO:  American Express Membership Rewards now transfer to Avianca LifeMiles!)

Finnair is an interesting option, none of the other major credit card currencies transfer to Finnair as of this writing.  Finnair is a oneworld airline based out of Helsinki, and I must admit I have very little knowledge of their operations of sweetspots.

Every other airline on the list already has partners, most of which include the lucrative Marriott Air and Hotel packages for redemption.  With the reduced rate (2:1.5) of transfer, I’d argue that Capital One’s program is a bit lower tier than Membership Rewards, Ultimate Rewards, or ThankYou Points.

How do I get the miles?

You’ll have to earn the miles from a Capital One card.  Capital One transfer partners will only be available to holders of the Venture, VentureOne, Spark Miles, or Spark Miles Select card from Capital One.  Once you have the miles, you’ll be able to transfer sometime next month.  No specific date has been announced yet.

It seems competition is heating up in the points game.  Transferrable points are always good to have at your disposal.  Due to their flexibility, I try to keep at least a few hundred thousand at any one time, divvied up between Membership Rewards, ThankYou Points, and Ultimate Rewards.  I don’t currently have a Capital One card (and probably won’t be getting one anytime soon – check out the warning at the bottom of the article!), but this is a great option for all you Venture holders.

How long until we hear Alex Baldwin or Jennifer Garner pitch the new transferrable points currency?

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