New Capital One Transfer Bonus – Qantas Frequent Flyer Transfers 1 to 1
Capital One added transfer partners earlier this year. While adding another way to use your points is always a good thing they were the only lender to not offer any 1 to 1 transfer partners. That limited the value proposition some but it could still be valuable in certain instances. They have not stood pat with the transfer rates of 2 to 1.5 for very long though. Capital One has had 4 other transfer bonuses so far this year making this Qantas bonus their 5th promotion of the year. With the bonus the transfer rate drops to 1 Capital One rewards point for 1 Qantas Airlines Frequent Flyer mile.
Details of the Offer
Here are the details of the transfer bonus:
- The transfer bonus offer goes from September 16th at 12:01 AM Eastern till October 31st at 11:59 PM Eastern.
- Capital One® Venture® Rewards Credit Card and Capital One® Spark® Miles for Business account holders will receive a 33.3% bonus on all miles transferred to the Qantas Frequent Flyer program.
- That will bring the transfer rate from 2 to 1.5 down to a flat 1 to 1 transfer ratio.
Which Cards Are Eligible?
There are 4 Capital One cards that earn transferable points. They are as follows:
- Capital One® Venture® Rewards Credit Card (Learn More)
- Capital One® Venture® One Rewards Credit Card
- Capital One® Spark® Miles for Business (Learn More)
- Capital One® Spark® Miles Select for Business
Most people eligible will carry either the Capital One Venture personal card or the Capital One Spark Miles Business card. The Venture offers 50,000 points after $3,000 in spend in the first 3 months, whereas the Spark Miles gives 50,000 points after $4,500 in spend in the first 3 months.
How To Use Qantas Frequent Flyer Miles
Qantas is the official airline of Australia but if I am being honest I don’t know a ton about their program. They are making some changes to the program (positive and negative) but one change is award prices will be going up some September 18th. So if you had a use for the miles then I would say transfer the points early and book it before the 18th to lock in the best rates.
I know that you can use Qantas miles to fly American Airlines domestically when saver space is available. They are most valuable on short flights, 600 miles or less, that come with a cost of only 16,000 miles round trip. And this price will not be changing.
Qantas Frequent Flyer miles also appear to be a good option for domestic flights in Australia. But for long haul flights to Australia it appears that large fuel surcharges are added so they are not the best option.
If you are sitting on some Capital One miles and know how to max out Qantas’ award chart then this is a great option for you. If you do not understand Qantas’ program then I would not transfer them speculatively. It appears they have some specific value but are not widely valuable so it is better to transfer only when you know you have a use. That is my take on it at least.