Earn 5,000 bonus TrueBlue points for your first Capital One transfer to JetBlue

If you were unimpressed by Capital One's poor transfer ratio for its newest partner, JetBlue TrueBlue, it's time to take another look. Capital One is offering a one-time transfer bonus of 5,000 TrueBlue points, as first reported by Frequent Miler.

Capital One's transfer ratio for JetBlue is a less-than-ideal 5:3, meaning every 1,000 Capital One miles you transfer will give you only 600 TrueBlue points. In many cases, you'd use significantly fewer Capital One miles by booking a JetBlue flight with cash and redeeming your miles to cover the purchase at a rate of 1 cent apiece.

But now, Capital One has launched a transfer bonus that can give you an extra 5,000 TrueBlue points upon your first transfer. You must transfer a minimum of 1,000 miles in increments of 100 miles.

This means you could transfer the minimum 1,000 Capital One miles to JetBlue and come out with 5,600 TrueBlue points — an excellent transfer ratio of 1:5.6. If you transfer 10,000 Capital One miles, you'll get a total of 11,000 TrueBlue points — slightly better than a 1:1 ratio.

This is a one-time bonus. So, after you use it, you'll be back to the usual disappointing 5:3 ratio. But if you have a specific JetBlue redemption in mind, this could be a great opportunity to transfer the points you need.

Or, if you also collect another currency that transfers to JetBlue at a better ratio, you're probably better off using a combination of rewards. Chase Ultimate Rewards points and Citi ThankYou Rewards points transfer to JetBlue at a 1:1 ratio, while American Express Membership Rewards points transfer to JetBlue at a ratio of 5:4. You could transfer 1,000 Capital One miles to TrueBlue to snag the 5,000 bonus TrueBlue points, then transfer the rest of the points you need from Chase, Citi or Amex at a better ratio.

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JetBlue redemptions start at 700 TrueBlue points, so this transfer bonus alone could be enough to get you to and from your next vacation. This offer doesn't have a published end date and could disappear at any time, so start thinking about your travel plans to decide if you want to take advantage of it.

Related reading:

• Complete guide to the JetBlue TrueBlue program
• JetBlue adds 16 routes, 5 new cities in big summer expansion
• Capital One airline and hotel transfer partners: How to maximize your miles
• Best Capital One credit cards
• How to save money with Capital One Offers