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Yesterday, Capital One added a new airline to the list of Capital One transfer partners: JetBlue TrueBlue. While the regular transfer rate for JetBlue transfers will be 2 Capital One Miles to 1 JetBlue TrueBlue point, they launched this new partnership with a limited-time transfer bonus, upping the ratio to 2:1.5 to kick things off.
- Capital One had added JetBlue TrueBlue as a Capital One miles transfer partner
- Regular transfer ratio is 2 Capital One Miles to 1 JetBlue TrueBlue point
- From May 1, 2019 to May 31st at 11:59pm EST, Capital One VentureCapital One® Venture® Rewards Credit Card and Capital One® Spark® Miles for Business cardholders get a 50% bonus (ratio is 2:1.5)
- Regular ratio: Transfer 1,000 Capital One miles to 500 JetBlue TrueBlue points
- Limited-time transfer bonus: 1,000 Capital One miles to 750 JetBlue TrueBlue points
- Transfer bonus valid from 12:01am EST May 1, 2019 until 11:59pm EST on May 31, 2019
According to our Reasonable Redemption Values, JetBlue TrueBlue points are worth about 1.43c each towards airfare. That means that the regular transfer ratio of 2:1 is pretty poor since you could alternatively redeem 2 Capital One Miles for 2c towards travel. Unless you’re just topping off your TrueBlue account with a few more miles for a valuable redemption, that wouldn’t make much sense.
However, with the transfer bonus, your 2 Capital One miles will buy you a little over 2 cents each in airfare when transferred to JetBlue TrueBlue — so this might be a good enough deal to take advantage (though it may still make more sense to buy a cash ticket and redeem the Capital One miles at a value of 1c each for that ticket rather than transferring).
One nice advantage with Capital One is that Capital One Miles post to your account within a few days of making your purchases (unlike other issuers which normally post rewards earned when your statement closes). That’s nice because if you find yourself just short of a redemption, a few quick purchases made at least a week before the end of the month should bring you the miles you need to close the gap before the transfer bonus ends.
Overall, this transfer partner addition and bonus isn’t wildly exciting news on its own. However, the exciting takeaway for me is that Capital One is indeed serious about continuing to add more transfer partners and offer additional transfer bonuses. I’m glad to see continued competition in that regard and it gives me more confidence in using my card knowing that I’ll have periodic opportunities to get competitive value out of my everyday spend on it.