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You can redeem Capital One miles at a fixed rate or transfer them to airline and hotel partners.
Some partners are much better than others, and a few should be avoided because of poor value.
Always compare how many miles you d transfer with what you d need to erase a paid travel purchase.
Historically, Capital One miles have been fixed-value rewards, with each mile worth 1 cent toward erasing travel purchases from your statement. A few years ago, Capital One introduced the option to transfer your miles to a variety of airline and hotel loyalty programs, and most recently added four new partners and improved some transfer ratios.
Singapore Airlines KrisFlyer (2:1)
TAP Air Portugal Miles&Go (1:1)
Turkish Airlines Miles&Smiles (2:1.5)
Hotel partners
Choice Hotels (1:1)
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While it would be great to see Capital One transition more of its partners to a 1:1 conversion rate, this starting stable is already significant. It begins to put Capital One miles on a more equal footing with other types of transferable points, such as American Express Membership Rewards and Chase Ultimate Rewards, which transfer to their own partners at 1:1 rates in most cases.
Hopefully, Capital One will add more 1:1 partners to the list, including some that U.S.-based travelers, in particular, would find useful, such as JetBlue True Blue and Air Canada Aeroplan. That said, there are still interesting ways to redeem miles from some of these other partners for high-value rewards.
Capital One is refreshing its miles program by adding four new airline and hotel partners.
Some existing and new partners will have an improved transfer ratio of 1:1.
The issuer will open new airport lounges and revamp its online travel portal in the coming months.
Capital One has made improvements to its rewards program in recent years by adding airline and hotel transfer partners in addition to redeeming miles at a fixed value toward travel. Today it announced another big update to its rewards program, and there s good news for customers who are getting ready to travel again.
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This summer, Capital One will open a brand-new airport lounge at Dallas-Fort Worth (DFW), and in 2022, another lounge at Washington Dulles (IAD). These lounges will have amenities like showers, cycling and yoga rooms, and a wide selection of food and drinks.