Capital One is losing its only US airline transfer partner
Capital One made waves when it first added airline transfer partners in 2018. Not long after, it expanded its roster to include hotel partners and improved many of its transfer ratios. Unfortunately, it’ll soon lose a major airline partner.
Today, Capital One has announced that it will be dropping JetBlue TrueBlue as a transfer partner effective Oct. 25, 2021. The news was first revealed in an email to cardholders.
For more TPG news delivered each morning to your inbox, sign up for our daily newsletter.
JetBlue was first added as a transfer partner of Capital One in May 2019. When the partnership first launched, transfers were at a 2:1 ratio, though that was later improved to a 2:1.5 ratio (so 1,000 Capital One miles = 750 TrueBlue points).
Capital One is giving cardholders exactly three weeks notice before the change takes effect. So, if you’re a Capital One Venture Rewards Credit Card or Capital One Spark Miles for Business cardholder, you still have until 11:59 p.m. ET on Oct. 24, 2021 to transfer miles to JetBlue.
Related: The complete guide to the JetBlue TrueBlue program
Overall, this shouldn’t be too big of a loss for cardholders, since JetBlue was always one of Capital One’s less valuable transfer partners. TPG values JetBlue TrueBlue points at just 1.3 cents apiece, so you’ll usually get better value transferring your miles to one of Capital One’s 1:1 transfer partners like Avianca LifeMiles or Etihad Guest. Additionally, you’ll continue to be able to redeem your Capital One miles at a fixed value against the purchase of a JetBlue flight.
That said, a loss of a transfer partner is still a loss. JetBlue was Capital One’s only U.S. airline transfer partner. In some cases, it could have still been useful to have JetBlue as a transfer partner to top off your account for a specific award. After all, transfers from Capital One to JetBlue usually processed instantly. Now, your only transfer options to JetBlue will be from American Express Membership Rewards, Chase Ultimate Rewards and Citi ThankYou Rewards.
Although Capital One’s revamped rewards program hasn’t been around for too long, this isn’t the first devaluation it has seen. In May 2020, the program lost Hainan Airways Fortune Wings Club and Qatar Airways Privilege Club as transfer partners — though thankfully the new partners it’s added over the years have more than made up for those departures.
Featured photo by Zach Honig/The Points Guy.
Sign-up Successful!
Welcome to The Points Guy!
Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.
Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.