Way back in late 2018, Capital One gave travelers with its popular Capital One Venture Rewards Credit Card and other cards a new way to use their miles: Send them straight to a dozen different airline partners. But it always fell short of the ease and value of using Capital One's Purchase Eraser to book travel and erase the cost using miles.
Three years and a slew of improvements and additions later, it's now become a truly solid way to use those Venture Miles.
On Thursday, Capital One improved how many miles you get when transferring to some of its best airline partners, including Air Canada Aeroplan, Air France/KLM Flying Blue, British Airways Avios, and Turkish Airlines Miles&Smiles, among others. Rather than getting 1.5 miles for every 2 Venture miles you transfer, these all now transfer on a 1:1 basis.
Capital One made a similar move with a few other airline and hotel partners earlier this year. Combined with Thursday's news, it means you can transfer miles on a 1:1 basis to the vast majority of Capital One's 19 hotel and airline partners.
Take a look at the list and see for yourself.
|Air Canada Aeroplan||Airline||1:1||Instant|
|Cathay Pacific AsiaMiles||Airline||1:1||Up to five business days|
|Etihad||Airline||1:1||Up to 1 day|
|EVA Air||Airline||2:1.5||Up to five business days|
|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|
|Choice Hotels||Hotel||1:1||Same day|
Read our guide to transferring Capital One miles to airline and hotel partners!
This is big for Capital One. While adding the ability to transfer miles to airline and hotel accounts was a solid addition in 2018, it fell far short of banks like Chase and American Express because transferring Capital One miles wasn't nearly as valuable. They've now leveled that playing field.
It's especially important for airline partners like Turkish Airlines, Etihad, and Avianca LifeMiles – somewhat niche airline programs with great redemption opportunities. Being able to transfer 50,000 Venture Miles and get 50,000 Turkish miles or LifeMiles is a big advantage.
For example, Turkish Miles & Smiles offers one of the cheapest ways to fly business class from the U.S. to Europe: Just 45,000 miles each way to fly Turkish or United Polaris or even SWISS business class. But with its previous 2:1.5 transfer ratio, you'd need to transfer 60,000 Venture miles to make it happen.
Today, that dropped to just 45,000.
What This Means for Capital One
The Capital One Venture Rewards Credit Card is truly one of the best travel credit cards for beginners. You earn 2x points on every purchase and even get a credit that covers a Global Entry or TSA PreCheck membership – all for a card with a $95 annual fee. But the true allure for beginners is its easy-to-use Purchase Eraser to redeem miles for travel.
Just charge any travel expense – flights, hotels, Airbnbs, tours, excursions, and so on – to your Venture Card. Then go back to use points to wipe the cost from your credit card statement.
Read our guide to using Capital One Purchase Eraser!
That ease and versatility is unparalleled, especially when stacked against the confusing and constantly changing world of airline miles, award charts, and devaluations. It's the perfect entry point for travelers just getting started with points and miles.
But with a bonafide transfer partner program, Capital One Venture miles are a genuine double threat – appealing to almost any traveler from the novice to the advanced expert.
Sure, you can wipe a $300 Airbnb stay from your statement using 30,000 Venture miles. But you can also start to dip your toe into the world of transfer partners, finding outsized value as you get more comfortable with the prospect of transferring miles to individual airline or hotel programs.
Click Here to get more information about the Capital One Venture Rewards Credit Card.
This is big. For years, we've shied away from highlighting the ability to transfer Capital One miles because they were less valuable than other banks like Chase and American Express. And it added a layer of confusion to Capital One's otherwise simple setup.
As of today, that's no longer the case. Transferring 1,000 Capital One miles will now net you 1,000 miles in almost every major airline partner in Capital One's portfolio.