Capital One Has A New Transfer Partner, But You Shouldn’t Take Advantage Of It

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Capital One added a new transfer partner today, JetBlue.

Unfortunately, while most transfer partners are at a 1:1 ratio, transfers to JetBlue are at a 5:3 ratio.

JetBlue points are not particularly valuable as they offer a fixed value per point with no outsized values. If you want to redeem for a JetBlue Mint ticket, you’ll be much better off doing that with Avios than with JetBlue points. For example a flight from JFK to London in MINT class on March 4th costs 160,000 JetBlue points compared to 78,000 Avios.

And if you really want JetBlue points, you’ll be better off transferring from Chase or Citi with a 1:1 ratio or AMEX to JetBlue at a 5:4 ratio.

For example, a JetBlue flight from JFK to Los Angeles on March 25th costs $98.30 in basic economy, $143.30 in standard economy, or $657.30 in Mint business class:

You can redeem 6.5K points+$5.60 in basic economy, a value of 1.43 cents per point, 9.6K points+$5.60 in standard economy, a value of 1.43 cents per point, or 47.8K points+$5.60 in Mint, a value of 1.36 cents per point:

As the transfer ratio is 5:3, the effective value per Capital One mile would be just 0.86 cents per point in economy or 0.82 cents per point in Mint. You would be much better off just booking the flight via the Capital One travel portal for a value of 1 cent per point, plus you would earn TrueBlue points for the paid flight, which would add to that value.

Or just use your Capital One miles for transfer to other programs with a better transfer ratio, that provide the ability to earn outsized value for your points.

Capital One transfer partners include:

• Aer Lingus (1:1 via BA, No alliance)
• Aeromexico (1:1, SkyTeam)
• Air Canada Aeroplan (1:1, Star Alliance)
• Air France/KLM Flying Blue (1:1, SkyTeam)
• Avianca LifeMiles (1:1, Star Alliance)
• British Airways Avios (1:1, OneWorld)
• Cathay Pacific Asia Miles (1:1, OneWorld)
• EVA (2:1.5, Star Alliance)
• Etihad (1:1, No alliance)
• Emirates (1:1, No alliance)
• Finnair (1:1, OneWorld)
• Iberia (1:1 via BA, OneWorld)
• Qantas (1:1, OneWorld)
• Qatar (1:1 via BA, OneWorld)
• Singapore (1:1, Star Alliance)
• TAP Air Portugal (1:1, Star Alliance)
• Turkish Airlines (1:1, Star Alliance)
• Virgin Red/Virgin Atlantic (1:1, No alliance)
• JetBlue (5:3, No alliance)
• Accor Hotels (2:1)
• Choice Hotels (1:1)
• Hilton Hotels (1:1.5 via Virgin)
• Wyndham Hotels (1:1)

Personally though, I’m a sucker for Capital One MLB redemptions, I’d expect to see the return of those over the next few weeks.

• Capital One Venture X Rewards Credit Card is offering 75,000 bonus miles for spending $4K in 3 months, plus earn 2 miles per dollar spent on every purchase, $300 annual travel credit for bookings through Capital One Travel, 10K anniversary bonus miles, Global Entry/Pre-Check, Capital One lounge access, Priority Pass Lounge membership, Hertz President's Circle status, free lounge access and status for free additional cardholders, transfer miles to airlines and hotels, 5K MLB redemptions, and more. $395 annual fee. Read more here.
• Capital One Venture X Business is offering 150,000 bonus miles for spending $30K in 3 months, plus earn 2 miles per dollar spent on every purchase, $300 annual travel credit for bookings through Capital One Travel, 10K anniversary bonus miles, Global Entry/Pre-Check, Capital One lounge access, Enhanced Priority Pass Lounge membership, transfer miles to airlines and hotels, 5K MLB redemptions, and more. $395 annual fee. Read more here.
• Limited time offer: Capital One Venture Rewards Credit Card is offering 75,000 bonus miles and a $250 travel credit for spending $4K in 3 months, plus 2 miles per dollar spent on every purchase, transfer points to airlines and hotels, 5K MLB redemptions, and more. $95 annual fee. Read more here. 
• Capital One VentureOne Rewards Credit Card is offering 20,000 bonus miles for spending $500 in 3 months, transfer miles to airlines and hotels, 5K MLB redemptions, and more. No annual fee.
• Capital One Spark Miles for Business is offering 50,000 bonus miles for spending $4,500 in 3 months, 2 miles per dollar spent on every purchase, Global Entry/PreCheck, transfer miles to airlines and hotels, 5K MLB redemptions, and more. $0 intro annual fee for the first year, then $95.
• New offer: Capital One Spark Cash Plus is offering $2,000 cash back (convertible to 200,000 miles) for spending $30,000 in 3 months, plus get another $2,000 cash back for every $500K spent in your first year, 2% back everywhere, $40 MLB redemptions, annual fee refund when you spend $150K/year, and more. $150 annual fee.

How do you redeem your Capital One miles?