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Capital One adds new transfer partners: Japan Airlines, Qatar Airways and I Prefer Hotel Rewards
Chris Nelson is a credit cards writer for TPG. He specializes in budget travel, hotels, earning elite status through minimal spending and redeeming points for maximum value.
September 23, 2025 • 8 min read
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Quick summary
A major transferable points program has added three new transfer partners: Japan Airlines Mileage Bank, Qatar Airways Privilege Club and I Prefer Hotel Rewards.
Japan Airlines transfers are at a 2:1.5 ratio, with a 30% bonus for the first month, while Qatar Airways transfers at 1:1 and I Prefer Hotel Rewards at 1:2.
These additions expand options for booking premium flights to Asia and boutique hotel stays, increasing the flexibility and value of miles.
Japan Airlines offers award flights from several U.S. cities to Tokyo at competitive mileage rates, and I Prefer Hotel Rewards covers a wide range of independent hotels.
What to consider
Japan Airlines transfers require a seven-day waiting period for new Mileage Bank accounts before redemption is possible.
Award availability and transfer ratios vary by partner, and transfers are irreversible, so confirm availability before moving miles.
Redemption values can exceed standard valuations, especially during limited-time transfer bonuses, but always compare cash and points costs.
What you'll miss from the article
Detailed examples of how many miles are needed for specific Japan Airlines flights and how to maximize value with I Prefer Hotel Rewards.
Generated by AI with support from our editorial team.
Capital One is adding to its extensive network of 15-plus transfer partners. This is great news as select Capital One cardholders can now transfer miles to two new airline partners and one new hotel partner: Japan Airlines Mileage Bank, Qatar Airways Privilege Club and I Prefer Hotel Rewards. This makes Capital One miles even more valuable and gives cardholders more ways to redeem their miles.
Let's jump into what you need to know.
Who are the new partners?
The new transfer partners are:
Japan Airlines Mileage Bank: 2:1.5 transfer ratio (cardholders receive a 30% transfer bonus during the first month from launch)
Japan Airlines is the flag carrier of Japan and offers excellent premium cabin products. From its hubs in Tokyo, Japan Airlines serves eight U.S. destinations.
Qatar Airways is the flag carrier of Qatar and is known for its renowned Qsuite business-class product. With Qatar, you can fly to just about every corner of the globe via its hub in Doha, which serves 11 U.S. destinations.
I Prefer Hotel Rewards is a hotel loyalty program that encompasses a collection of unique hotels, including boutique and independent hotels. Some of the brands under the I Prefer umbrella include Beyond Green, Historic Hotels of America and Preferred Hotels & Resorts. This loyalty program allows you to earn and redeem points on stays and receive elitelike benefits at hotels where you normally wouldn't be able to.
The information for the Capital One Spark Miles and Capital One Spark Miles Select has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Transferring miles to Qatar Airways Privilege Club can be a great way to fly Qsuite business class (one of the best business-class products on the market) for as little as 70,000 miles from the U.S. to Doha. You can earn enough miles for this redemption by earning the welcome bonus on cards like the Capital One Venture X Rewards Credit Card or the Capital One Venture Rewards Credit Card. New Venture Rewards cardholders can earn 75,000 bonus miles after spending $4,000 on purchases in the first three months from account opening, plus receive a $300 credit to use on hotel and vacation rentals booked through Capital One Travel in the first cardholder year. With the Venture X, cardholders can currently earn 75,000 bonus miles after spending $4,000 on purchases within the first three months from account opening.
However, British Airways Club is a Capital One transfer partner, which means you could already convert your miles to British Airways Avios and then transfer your Avios from your British Airways Club account to your Qatar Airways Privilege Club account at a 1:1 ratio.
A Qatar Boeing 777 readies for takeoff at Dallas Fort Worth International Airport (DFW). SEAN CUDAHY/THE POINTS GUY
Japan Airlines Mileage Bank
I'm really excited about the addition of Japan Airlines. Currently, Japan Airlines is only a transfer partner of one major transferable points program, Bilt Rewards; Bilt Points transfer at a ratio of 1:1.
The only other way to get these hard-to-earn miles is to fly or transfer them from Marriott Bonvoy, which offers a poor ratio of 3:1.
That being said, Capital One miles will now transfer to Mileage Bank, but at a ratio of 2:1.5. Though it's not an even 1:1 ratio, Japan Airlines still operates using an award chart, which means you can find some sweet deals from several major U.S. cities to Tokyo for:
27,000 miles in economy
40,000 miles in premium economy
55,000 miles in business class
110,000-140,000 miles in first class (depending on the date)
So, if you're looking to fly from Boston Logan International Airport (BOS) to Tokyo's Haneda Airport (HND), you'd need to transfer:
36,000 Capital One miles to Japan Airlines to book economy
54,000 Capital One miles to Japan Airlines to book premium economy
74,000 Capital One miles to Japan Airlines to book business class
147,000-187,000 Capital One miles to Japan Airlines to book first class (depending on the date)
However, Capital One is offering a 30% bonus when transferring your miles to Japan Airlines for the next month, which gives you almost a 1:1 rate; technically, 1 Capital One mile is worth 0.975 Japan Airlines miles, or a 40:39 transfer rate. So, if you're looking to book the same flights mentioned above during this 30% bonus deal, you'd need to transfer:
28,000 Capital One miles to Japan Airlines to book economy
42,000 Capital One miles to Japan Airlines to book premium economy
57,000 Capital One miles to Japan Airlines to book business class
113,000-144,000 Capital One miles to Japan Airlines to book first class (depending on the date)
Note that Capital One members who open a new Japan Airlines Mileage Bank account will have to wait seven days before their miles can be redeemed. Therefore, even if you don't have a redemption in mind at the moment, we suggest signing up for Mileage Bank ASAP.
CLINT HENDERSON/THE POINTS GUY
While I am disappointed that the transfer ratio is not 1:1, I am glad I'll have access to Japan Airlines as a transfer partner at a still-respectable ratio. To help take some of the guesswork out of your award searches, you can use a tool like Seats.aero to help you find a seat. However, you should always confirm award availability on Japan Airlines' website before transferring your Capital One miles, as transfers are irreversible.
Japan Airlines is also part of the Oneworld alliance, so aside from flying from the U.S. to Japan at a very reasonable award cost, you can use this program to book partner flights on American Airlines, Emirates, Cathay Pacific and more. Mileage Bank uses different award charts for partner flights, so be sure to check out its website for pricing.
I Prefer Hotel Rewards
You can now transfer your Capital One miles at a ratio of 1:2 to book select Preferred Hotels & Resorts properties, which means for every 1,000 miles you transfer, you'll receive 2,000 I Prefer Rewards points. Rates start as low as 15,000 points per night; however, these are "starting at" rates (per the website) with some nights priced starting at 150,000 points per night.
Typically, transferring credit card points or miles to hotel loyalty programs — outside of World of Hyatt — will not help you maximize your rewards. But transferring your Capital One miles could make sense if you find a good deal.
For example, you can currently book The Emblem Prague Hotel, a boutique hotel in the heart of Old Town Prague, in June 2026 for either $569.47 a night or 30,000 I Prefer Rewards points. Since you'd only need to transfer 15,000 Capital One miles to book this hotel, you'd get a value of 3.76 cents per mile.
Since TPG values Capital One miles at 1.85 cents apiece (per our September 2025 valuations), this is well above our valuation and could be a great way to save on your out-of-pocket cost.
However, be sure to crunch the numbers and compare the cash cost and points or miles cost. If you want to maximize your Capital One miles, we recommend aiming to net a value at or above our valuation.
Capital One has added three new transfer partners to its already impressive roster of 15-plus partners. Qatar and Japan Airlines provide cardholders with excellent options for getting to Asia and beyond, and I Prefer allows you to earn and redeem points and get elitelike benefits when staying at independent boutique hotels.
Cardholders will have even more flexibility with more transfer options, making miles even more valuable.
Comments
By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
