Starting today, Capital One Venture customers can transfer their rewards miles to over a dozen travel loyalty programs. The news of today’s launch was announced last month, but since then Capital One has added two new airlines that many points/miles enthusiasts will be excited about, Emirates and Singapore Airlines, and apparently more are on the way.
For those familiar with the card, your old benefits won’t be changing. You’ll continue to earn 2x miles per dollar spent, and each mile can be redeemed for one cent towards the cost of a travel purchase. That option will continue to allow you to receive a statement credit for up to 90 days after you make a travel purchase at the rate of one cent per mile.
The new option is the ability to transfer to 14 different loyalty programs including: Aeromexico (Club Premier), Air Canada (Aeroplan), Air France KLM (Flying Blue), Alitalia (MilleMiglia Program), Cathay Pacific (Asia Miles), Avianca (LifeMiles), Emirates (Emirates Skywards), Etihad Airways (Etihad Guest), EVA Air (Infinity MileageLands), Finnair (Finnair Plus), Hainan Airlines (Fortune Wings Club), Qantas (Qantas Frequent Flyer) and Qatar Airways (Privilege Club) and Singapore Airlines (KrisFlyer).
Most transfers are at a rate of 2 Venture miles to 1.5 airline miles, but Emirates and Singapore Airlines will transfer at a ratio of 2 Venture miles to 1 airline miles. A transfer minimum of 1,000 Venture miles is in place and miles can be made in 100 mile increments.
The new transfer option is available to Capital One Venture VentureOne, Spark Miles and Spark Miles Select cardholders.
Other new benefits recently introduced include the following:
- Cardholders already earn 10x Venture miles at Hotels.com, which means that when combined with the new miles transfer benefit, Venture customers can earn up to 7.5 airline miles per dollar spent on bookings made at hotels.com/venture through January 2020.
- $100 credit towards either a TSA PreCheck or Global Entry application fee
The best way to take advantage of the new transfer functionality is with the card offers below, note the Spark Miles for Business card that is offering 200K!
- Capital One® Venture® Rewards Credit Card – 50K Bonus miles after $3K in 3 months This is the standard Capital One Venture Rewards Card with all the benefits discussed above – 50,000 points after spending $3K in 3 months. If you haven’t had a Capital One card before, this is a great start with a solid 50K sign-up
- Capital One® Spark® Miles for Business – Up to 200K (bottom of page) – This is the mega offer! An amazing 200,000 miles opportunity (50,000 after spending $5K in 3 months and then another 150,000 after spending $50,000 within the first 6 months – Limited Time Offer)
- Capital One® VentureOne® Rewards Credit Card – 20K after $1K in 3 months
- Capital One® Spark® Miles Select for Business – 20K after $3K in 3 months (click show more at bottom of page)
The 200K offer does require a business, but you likely have a business without knowing it. Any small business will do – think eBay, photography, consulting, helping friends/family book trips, etc. You can apply as a sole proprietor and so you’ll be using your social security number, no other business related identification is required. Perhaps, you need to keep your eBay expenses separate from all other spend?
Since many are new to Capital One, a few things to note:
- Capital One often pulls your credit report from all 3 credit bureaus
- Capital One unlike AmEx, Chase, and Citi, does report your small business credit on your personal credit report. That means that if you apply for one of their business cards and are approved, it will count against your Chase 5/24 stats
- Capital One limits applications to one per SSN every 6 months
Remember, there will still be many times when redeeming miles for travel statement credits at 1 cent per mile will still make sense over transferring and using the set airline chart redemption rates – domestic positioning flights, cheap international economy flights, short hops, etc. The real value for the transfer partners will of course come from business and first class redemptions where you can draw 7-10 cents per mile in value.