Get a 20% Bonus on Transfers from Capital One to FlyingBlue
Capital One introduced the ability to transfer points to partner airlines late last year and it’s been on a tear ever since, adding new transfer partners and offering transfer bonuses.
Their latest addition? Starting Saturday, June 1, you’ll get a 20% bonus when transferring miles from your Capital One Venture or Spark cards to FlyingBlue, the combined frequent flyer program for Air France and KLM. The transfer bonus runs through June 30.
These transfer bonuses are basically like free airline miles – it’s why we were so excited when Capital One and Chase both started offering them this year. And it helps offset one of the glaring flaws with Capital One’s transfer partners – a relatively poor transfer ratio that takes a bite out of your Capital One points. With most airlines, including FlyingBlue, you need to transfer 2 points to get 1.5 miles in your account.
With this bonus, you’ll be able to transfer to FlyingBlue on a 2:1.8 ratio. That means if you transfer 50,000 Capital One points, you’ll have 45,000 FlyingBlue miles.
And there’s a great promotion you could use to get the most out of this transfer bonus.
How to Use the Bonus
FlyingBlue isn’t the best mileage program. It’s a lot like Delta, with unpredictable and ever-changing award rates that can skyrocket when trying to use your miles.
But there’s a bright spot. Every month, FlyingBlue runs a monthly promotion in which it slashes award rates on a handful of routes. Combined with this transfer bonus, there are some alluring opportunities in this month’s FlyingBlue Promo Rewards.
For starters, you can book a round-trip from Houston-Intercontinental (IAH) or Atlanta (ATL) to almost anywhere in Europe for 50% off. That could bring the price down to 29,000 miles – at that rate, you’d need only transfer 32,300 Capital One points with this transfer bonus.
But there’s also a 25% discount on business class fares, in this case out of Chicago-O’Hare (ORD). That means you could book a round-trip in business class for 87,000 roundtrip – transferring just 96,700 Capital One points to do so. Or book a one-way for 43,500 miles, transferring just 48,400 Capital One points after the transfer bonus.
The same 25% discount is available on business class flights from Montreal (YUL), Edmonton (YEG), and Calgary (YYC).
The one major hitch with FlyingBlue is that they pass on some sizable cash fees when flying in and out of Europe. Expect to pay $100 to $250 on a round-trip economy flight, depending on which European airport you’re using. For business class, it’s closer to $530 in cash fees.
Still, it could be a great use of Capital One Venture points if you’re looking to score a cheaper trip to Europe or fly in business class. Keep in mind you can also use Capital One points to book a flight directly, then zero it out with the Purchase Eraser function.
No matter which bank you’re talking about, there’s no better time to use points than when there’s a transfer bonus. And with the ongoing sale on flights to Europe through Air France/KLM, this 20% transfer bonus could work out quite well.
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer.