Capital One shook things up back in 2018 by introducing the ability to transfer Capital One points to 15 different airline partners. And the bank isn't done yet.
The bank announced Monday that it's adding its first hotel transfer partners in Accor Hotels and Wyndham Rewards starting Tuesday, February 4. Capital One will be the first and only U.S. credit card transfer partner for both Accor and Wyndham.
The transfer ratio to Accor Live Limitless, the global loyalty program of 34 hotel brands like SLS, Fairmont, Sofitel, Delano, Mondrian, Raffles and many more will be at a rate of 2:1, which means 1,000 Venture or Spark Miles will be equal to 500 hotel points.Â
Wyndham Hotels & Resorts operates a portfolio of 20 hotel brands, including Wyndham Grand, Trademark Collection by Wyndham, La Quinta, Tryp by Wyndham and many more. The transfer ratio to Wyndham Rewards will be at a rate of 2:1.5, which means 1,000 Venture or Spark Miles will be equal to 750 Wyndham Rewards points.Â
That means the current 50,000-point welcome bonus earned after spending $3,000 in the first 3 months on a card like the Capital One Venture Rewards Credit Card would net you 25,000 Accor Live Limitless points, and 33,333 Wyndham Rewards points.Â
Improved Transfer Ratio to JetBlue
In addition to Capital One adding their first-ever hotel transfer partners, the bank also announced they are making the transfer ratio to JetBlue TrueBlue more valuable. Starting tomorrow, February 4th, the new transfer ratio will be 2:1.5, which means 1,000 Venture or Spark Miles will equal 750 JetBlue TrueBlue points. This is an increase from the current 2:1 transfer ratio to JetBlue.
Our Analysis
The more transfer partners, the better, and it is great to see Capital One adding its first hotel transfer partners.
The ability to transfer points or book a cash fare or lodging and then cover it with points using Capital One's “purchase eraser” function gives Capital One a big boost. That flexibility is what has made other credit card points like Chase and American Express so valuable.
And even though the transferability is still new to Capital One, the bank keeps upping the ante with frequent transfer bonuses and new partners.
| Program | Type | Ratio | Transfer Time |
|---|---|---|---|
| Aeromexico | Airline | 1:1 | Instant |
| Air Canada Aeroplan | Airline | 1:1 | Instant |
| Air France/KLM | Airline | 1:1 | Instant |
| Avianca LifeMiles | Airline | 1:1 | Instant |
| British Airways | Airline | 1:1 | Instant |
| Cathay Pacific AsiaMiles | Airline | 1:1 | Up to five business days |
| Emirates | Airline | 1:1 | Instant |
| Etihad | Airline | 1:1 | Up to 1 day |
| EVA Air | Airline | 2:1.5 | Up to five business days |
| Finnair | Airline | 1:1 | Instant |
| Qantas | Airline | 1:1 | Instant |
| Singapore | Airline | 1:1 | Instant |
| TAP Air Portugal | Airline | 1:1 | Same day |
| Turkish Airlines | Airline | 1:1 | Same day |
| Virgin Red | Other | 1:1 | Same day |
| Accor | Hotel | 2:1 | Up to two business days |
| Wyndham | Hotel | 1:1 | Same day |
| Choice Hotels | Hotel | 1:1 | Same day |
That said, transferring points to Captial One's transfer partners shouldn't be your first choice for your miles. Because they do not have a 1:1 transfer partner, in my opinion, you will still be much better offer booking travel directly with your card and then using the purchase eraser feature to cover the cost of the charge. When you use the miles this way, each mile will be worth 1 cent. Far better value than is provided by any current transfer partner.
And JetBlue's TrueBlue program can be tricky to work out. In the past, the amount of TrueBlue miles you needed to book a fare was tied directly to the cash price of the fare. A $200 fare would typically cost 20,000 TrueBlue points, no questions asked.
That's gotten better in recent months, so it can be worth considering. But you'll need to do the math to figure out whether you're better off transferring your Capital One points to JetBlue or just buying the fare and using points to cover the purchase afterward using the purchase eraser feature.
Breaking Down Capital One Transfers to JetBlue
Let's look at an example.
Flights for a week-long trip from Minneapolis-St. Paul (MSP) to Boston (BOS) in May are currently selling for $146 round-trip. That means you could put the flight on your Capital One Venture card, then use roughly 14,600 Capital One points to cover the entire purchase using the Capital One Purchase Eraser.
But if booking using TrueBlue miles, the airline wants 12,600 miles for the exact same flights.
If you transfer points from Capital One with the new transfer ratio, you'd need to transfer 16,800 Capital One miles to JetBlue to book that flight. Transferring 16,800 Capital One miles would leave you with 12,600 TrueBlue miles after the 2:1.5 transfer ratio.
Keep in mind that you won't earn miles when booking a flight with TrueBlue miles – but you will if you use Capital One's Purchase eraser function. That's another factor that could sway your decision.
Either way, you'll have to do some legwork to figure out whether it's worth transferring your Capital One points to JetBlue. In this situation, the Purchase Eraser is the best option.
Bottom Line
Capital One keeps beefing up its transfer partners, and that's good news for travelers who have cards like the Capital One Venture Rewards Credit Card. They are the only program offering transfers to Accorr (the loyalty program of Fairmont, etc.), and Wyndham Rewards. And though the transfer ratios aren't the best, more flexibility with your points is always welcome news.