On Tuesday, Captial One announced the addition of 12 new airline transfer partners that will be available for Capital One Venture cardholders. Transfers from the Capital One Venture miles program to the new transfer partners will be available starting in December.
The full list of new transfer partners is as follows. At this time, we do not know the length of time it will take to complete transfers into these programs from Venture miles. However, Capital One indicated that they should be in line with the transfer times from other flexible points programs like Chase Ultimate Rewards or Amex Membership Rewards. We are assuming that means anywhere from instantly to a few days.
|Air Canada Aeroplan||Airline||2:1.5||Same day|
|Air France/KLM||Airline||2:1.5||Same day|
|Cathay Pacific AsiaMiles||Airline||1:1||Up to five business days|
|EVA Air||Airline||2:1.5||Up to five business days|
|Qantas||Airline||1:1||Up to five business days|
|Singapore||Airline||2:1||Up to five business days|
|TAP Air Portugal||Airline||1:1||TBD|
As is outlined in the table above, Venture cardholders will be able to transfer points into all of these loyalty programs at a rate of 2 Venture miles to 1.5 airline miles. Additionally, this miles transfer benefit will also be available for VentureOne, Spark Miles and Spark Miles Select cardholders.
Because the Capital One Venture card earns 2 Venture miles per dollar spent, you are effectively earning 1.5 airline miles for every dollar you spend, should you decide to transfer into any of these programs.
When using Capital One miles with the purchase eraser feature to remove travel charges from your statement, each point is worth a flat 1 cent each.
New Increased Welcome Offer
As a part of the launch of the new mileage transfer partners available on the Capital One Venture card, the bank is offering a new limited time sign-up bonus starting today, November 13th for customers who apply directly through the CaptialOne.com website. During this limited-time offer, new Venture cardholders can earn 75,000 miles after spending $5,000 on purchases in the first 3 months of account opening. This deal is now dead.
Click Here to learn more about current offers for the Capital One Venture card.
Additionally, the new transfer partners are not limited to only the Venture Rewards card. You will also be able to transfer miles from the no-annual-fee Capital One VentureOne Rewards card and the Capital One Spark Miles Select for business cards. The VentureOne card earns 1.25x miles per dollar spent on all purchases and the Spark Miles Select card earns 1.5x miles per dollar on all purchases. This translates to 0.94 or 1.12 airline miles after a transfer respectively.
Click Here to learn more about the no-annual-fee Capital One VentureOne card.
Capital One has done a fantastic job improving the Venture card over the past year. Not only did they just add transfer partners, but in August, they added a credit to receive up to $100 for Global Entry or TSA PreCheck once every 4 years. The most impressive part? They have made these changes without adjusting the $95 annual fee.
While the new list of transfer partners isn’t the most exciting, you can still find plenty of value. We will cover this in more depth in an upcoming post. It is also worth noting that Capital One has indicated they plan to add additional partners on an ongoing basis.
Having more flexibility on how to use your Capital One Venture miles is always a welcomed change. However, I think the transfer ratio is interesting. Venture points are always worth a flat one cent each when you redeem them using the Capital One Purchase Eraser.
If you choose to utilize one of the new Capital One Venture transfer partners, you will receive 1.5 airline miles for every 2 Capital One Venture miles you transfer. By using your points for airline transfers, you will effectively get 0.75 airline miles for every Capital One Venture mile you transfer.
This represents a worse ratio than both Chase Ultimate Rewards and Amex Membership Rewards. Both programs offer a 1:1 transfer ratio with their key partners. This is also why I am not overly excited about this news. Though I love that Capital One is actively working to make improvements to the card, I think the transfer ratio adds a layer of confusion for consumers.
Surely, Capital One will pay a fee to these airlines everytime a transfer is made. This is likely why they are not offering a 1:1 transfer ratio. However, I wouldn’t be surprised if we see Capital One adjust the ratio to 1:1 in the future. Still, at the end of the day, a flat 1.5 airline miles per dollar spent is substantially better than a flat 1 cent per mile while using the purchase eraser feature.
One of the most appealing aspects of the Capital One Venture card is the simplicity the card offers. It is a card that just makes sense for the average traveler. While the Capital One Venture transfer partners are a fantastic addition, I think the transfer ratio and the quality of partners need to be addressed if they want to be a serious contender.