Capital One mile transferUpdated: Dec. 13, 2018

These days, it seems like everyone offers a loyalty program. While this gives you the potential to earn points or rewards for shopping at your favorite stores or other merchants, it can also lead to frustration as you try to balance getting the best deal with making the most of your purchases. This can be especially true when it comes to travel loyalty programs, like those offered by airlines and hotel chains. Travel isn’t cheap, and unless you are super loyal to one specific brand, you might find yourself in the frustrating situation of having earnings spread across several loyalty programs without enough in any one to make use of them. Fortunately for certain Capital One cardholders, this will soon be a problem of the past. That’s because starting on Dec. 10, 2018, users of the Capital One Venture Rewards Card, Capital One VentureOne Rewards Card, Capital One Spark Miles for Business card and Capital One Spark Miles Select for Business card will be able to transfer their earned miles to at least a dozen partner airlines. Keep reading to get the skinny on how this new miles transfer benefit will work and whether it’s worth it.

How the miles transfer benefit will work

Eligible Capital One credit card owners will be able to take the miles they’ve racked up and transfer them to participating airline loyalty programs at a rate of 2 Capital One miles for 1.5 airline miles. That’s a pretty good deal, especially since this isn’t a standard benefit offered by most other travel rewards credit cards. To start, the participating airline loyalty programs will include Aeromexico (Club Premier), Air Canada (Aeroplan), Air France KLM (Flying Blue), Alitalia (MilleMiglia Program), Cathay Pacific (Asia Miles), Avianca (LifeMiles), Etihad Airways (Etihad Guest), EVA Air (Infinity MileageLands), Finnair (Finnair Plus), Hainan Airlines (Fortune Wings Club), Qantas (Qantas Frequent Flyer) and Qatar Airways (Privilege Club). Additionally, miles can be transferred at a rate of 2 Capital One miles for 1 airline miles to Emirates (Emirates Skywards) and Singapore Airlines (KrisFlyer). If your preferred loyalty program isn’t represented here, don’t sweat it — Capital One has indicated that it may add other partners in the future, so it could be added in the future. In addition to this new transfer benefit, cardholders will still be able to redeem their miles the traditional way, with no blackout dates, via a statement credit to cover travel booked with their card or by booking directly through the Capital One Rewards Center.

Is Capital One the only issuer that offers this benefit?

If you aren’t too thrilled with the idea of trading in your hard-earned miles for less than what they’re worth with Capital One, you might consider the Chase Sapphire Preferred Card. This travel rewards card also allows users to transfer their points to participating travel loyalty programs through Chase Ultimate Rewards, but at a 1:1 ratio — meaning 1 point transferred from Chase will equal 1 point toward your loyalty program of choice. Chase also allows transfers to several hotel loyalty programs as well as airlines, which could be appealing to those who like to use their rewards to book both kinds of travel. It’s important to note, however, that Chase Sapphire Preferred Card is the only one from Chase that offers this benefit. Since this card requires excellent credit for approval, which is typically considered to be credit scores of 750 or higher, it’s not easily attainable for most people.

Capital One, on the other hand, will be extending this benefit to four of its travel credit cards, all of which are available to those with good to excellent credit (scores of 700 or higher). At the end of the day, these are both solid deals that make owning a travel rewards card from either Chase or Capital One more than worthwhile, so you’re a winner no matter which one you choose.

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