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Capital One is offering a transfer bonus on points transferred to Qantas. This bonus began last month, but we just realized that we never covered it. For those interested, this transfer bonus is available through October 31, 2019 and can present decent value.
The Deal
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Capital One Venture, VentureOne, Spark Miles and Spark Miles Select cardholders can get a 33.3% bonus on all miles transferred to the Qantas Frequent Flyer program by 11:59pm Eastern time on October 31, 2019.
- The normal transfer ratio from Capital One miles to Qantas is 2:1.5, but with this bonus the ratio is 1:1.
Key Terms
- Valid for transfers from 12:01am Eastern on September 16, 2019 to 11:59pm Eastern on October 31, 2019
Quick Thoughts
Qantas offers a distance-based oneworld award chart. One of the sweet spots is good for short itineraries on American Airlines — we’ve previously written about when it can be advantageous to consider booking AA flights with Qantas:
It’s worth noting that Qantas has instituted some changes to its award chart and program since the publication of that post. While those changes don’t affect the core content of that post (short AA itineraries), the Qantas award chart has changed some. See this post at One Mile at a Time for more on the program changes.
Keep in mind that Capital One rewards miles typically post within 1-3 business days after a pending charge hits your statement. There is therefore still plenty of time to earn more Capital One miles if this transfer bonus appeals to you. While Qantas may not have the most rewarding program, the ability to top off at 2 miles per dollar spent through the end of this month (if you’re using the Capital One Venture Rewards credit card or the Capital One Spark Miles business credit card) certainly may be appealing.
If you’ve never transferred to Qantas, it may also be worth considering a small transfer. That’s because Qantas occasionally offers targeted bonuses to those who have previously transferred credit card points to Qantas miles and it seems that even a very small transfer can trigger these bonuses. One other word of caution: Capital One has repeatedly flagged my account for potential fraud after making transfers to new programs. If you transfer points to a new loyalty program, expect a phone call from Capital One within the following couple of days. Answer that call to confirm that you made the transfer.
As always, we have added this to our Current point transfer bonuses page.
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[…] 33.3% transfer bonus from Capital One to Qantas (Expires 10/31/19) […]
Because you earn 2 points/miles per $1 spent on this card, you are actually earning 2 Qantas miles for every $1 spent on the card. Stating that the the conversion goes from 2:1.5 to 1:1 is confusing because if you are not aware that you actually earn 2/miles per $1 then most would assume it becomes spend $1 earn 1 Qantas mile when they would actually earn 2 Qantas miles which is a much better return.
I see what you mean, but ratios are usually stated in their simplest form I think, right? Not all of the cards earn 2x, which compounds the confusion a bit. But you’re of course right that the ratio could also be written 2:2 and you are in fact earning 2 Qantas miles per dollar spent if you transfer by 10/31, which certainly can be a decent deal (though also keep in mind that Qantas is a Citi transfer partner and you can now earn an effective 2x everywhere with the Double Cash).
Thanks for this update! One other thing you guys might’ve missed while traveling is that Rakuten has unveiled a dining rewards program that can earn 5 MR points per dollar spent. Looks like the best dining program option out there now. I don’t know if you guys normally report on that sort of thing, but figured I’d mention it.