Over the past few years, Capital One has committed significant resources to making its credit card miles competitive with other industry heavyweights. The issuer significantly improved its travel rewards program in 2018 by creating a transfer partner option, which allows cardholders to not only use their miles to offset travel expenses with the “Purchase Eraser” tool. from the bank, but also to transfer miles to one of the 16 airline and hotel partners for potentially even more value.
Over the following years, Capital One gradually improved its transfer program. But on Thursday, the issuer took what could be the latest step in making its miles program a top-notch option by shifting the bulk of its remaining partners to its top transfer ratio level.
As of October 7, all but two of Capital One’s airline and hotel partners will transfer at a 1-to-1 ratio. This means that if you transfer 1,000 Capital One miles to 14 of the 16 current program partners, you will get 1000 points or miles in the loyalty program of the corresponding airline or hotel.
Six airline loyalty programs move to Capital One’s 1-to-1 transfer ratio level: Air Canada Aeroplan, Air France / KLM Flying Blue, British Airways Avios, Emirates Airline Skywards, Singapore Airlines KrisFlyer and Turkish Airlines Miles & Smiles.
British Airways is one of six airline loyalty programs that will now be transferred from Capital One at a 1 to 1 ratio.
Most of these programs were previously moved from Capital One at a 2 to 1.5 ratio, while Emirates and Singapore were moved at a 2 to 1 ratio. Improvements mean Capital One cardholders will get 33% more points or miles than before when transferred to these programs, and 50% more when transferred to Emirates or Singapore.
These airlines are joining eight other frequent flyer programs that are already shifting from Capital One at a 1-to-1 ratio, for a total of 14 1-to-1 programs, with the Choice Privileges hotel chain slated to join as the 15th 1. for 1 transfer partner before the end of 2021. Capital One’s full partner list now looks like this:
Previously, Capital One also included JetBlue TrueBlue and Alitalita MilleMiglia as transfer partners. However, in early October, the issuer informed its cardholders that JetBue would no longer be available as a transfer partner as of October 25, 2021 and that the Italian national carrier Alitalia is currently bankrupt and in the process of being dissolved.
By moving the bulk of its partners to a 1-to-1 transfer ratio, Capital One miles are now comparable to Chase Ultimate and American Express Membership Rewards, both of which are transferred to most of their partners at a ratio of 1 for 1.. The only downside is that while Chase and Amex have at least one US national carrier in their partner lists, Capital One exclusively offers international carriers.
However, the major Capital One travel rewards credit cards – the Capital One® Venture® Rewards credit card and the Capital One® Spark® Miles for Business credit card – earn 2 miles for every dollar spent on every purchase you make. perform, giving Capital One a leg up on Chase and Amex core credit cards when it comes to earning travel rewards.
Related: Earn 60,000 bonus miles with the Capital One Venture credit card.
The issuer is also taking on its competitors by launching its own network of airport lounges. Two locations have already been announced, with an inaugural lounge slated to open at Dallas-Fort Worth Airport in late 2021 and a second at Dulles Airport in Washington, DC in 2022.
A rendering provided by Capital One of the entrance to one of the new Capital One lounges.
In addition, Capital One recently revamped its travel website to add airline price forecasting and protection features. Powered by the price prediction technology from the Hopper travel booking website, the new suite of tools includes airline ticket price prediction and price monitoring, price drop protection, best price and the ability to purchase “cancel for any reason” insurance.
If you don’t have a Capital One credit card, Capital One Venture currently comes with a signup bonus that can put many miles in your pocket pretty quickly. New cardholders can earn 60,000 bonus miles after spending $ 3,000 on purchases in the first three months after opening the account. The card has an annual fee of $ 95, but offers up to $ 100 Global Entry or TSA PreCheck credits and no overseas transaction fees.
Find out which CNN Underscored cards chose as best travel credit cards of 2021.
Get all the latest personal finance offers, news and tips at CNN Underscored Money.