Limited time offer: Transfer Capital One miles to Qantas at a 1:1 ratio

Sep 15, 2019

This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.

Update: Some offers mentioned below are no longer available. View the current offers here – Capital One Venture Rewards Credit Card, Capital One Spark Miles for Business, Capital One VentureOne Rewards Credit Card, Capital One Spark Miles Select for Business

From Sept. 16 through Oct. 31, 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, making it a 1:1 transfer.

That bonus may sound more generous than it actually is at first glance. See, Capital One miles transfer to Qantas at a ratio of 2:1.5. With this deal, the transfer ratio will become 1:1. A good deal, but nothing to flop sweat about. Here are some good examples of what you can do with Qantas miles:

  • Round-trip short-haul flights of 600 miles or less on American Airlines (16,000 Qantas miles)
  • Round-trip flight from the West Coast to Fiji on Fiji Airways (63,000 Qantas miles)
  • Round-trip flight from the East Coast to Israel on El Al (75,600 Qantas miles)

There are many fun routes you can book with Qantas miles (they’re especially generous with free stopovers), but the above examples demonstrate a fair value for jumping on this Capital One miles transfer bonus. Capital One miles are worth 1 cent each when used to offset travel purchases. But this bonus can make it worthwhile to transfer to Qantas, depending on your travel goals.

Per the examples above, you can book a round-trip coach flight from Los Angeles (easily $840+) to Fiji for 63,000 (worth $630). Or a short round-trip from Pittsburgh to Philadelphia (often $200+) for 16,000 miles (worth $160).

Earlier this summer, Qantas made some changes to their frequent flyer program and it’s a mix of good news and bad news. The good news is that Qantas is planning on lowering the price of economy-class redemptions by as much as 10%, and it claimed that it will increase the number of award seats available on Qantas- and partner-operated flights, including up to 30% more premium-cabin seats. This coincides with the addition of five new partners: Air New Zealand, China Airlines, Bangkok Airways, Air France and KLM Royal Dutch Airlines — although it’s still unclear how much awards will cost for these partners. Qantas also said that it will lower carrier-imposed fees, mostly on economy awards, and that users will be able to more easily search for awards.

As for the bad news, Qantas is increasing the price of premium cabin awards by as much as 15% and upgrade awards by up to 9%. These changes are effective as of Sept. 18, 2019, which is just two days after the bonus transfer kicks in.

Those with the lower annual fee Capital One® VentureOne® Rewards Credit Card and the Capital One® Spark® Miles Select for Business will also be eligible for the transfer bonus. The information for the Capital One Spark Miles Select card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Overall, Qantas isn’t the most rewarding loyalty program, but the ability to transfer from partners like Capital One, Amex and Citi makes it easier to collect and redeem the points. You’ll want to check out our guide on maximizing the Qantas Frequent Flyer program to see how to take advantage of the sweet spots in the program’s award chart.

However, you may be better off using your Capital One Miles with other transfer partners like Avianca Lifemiles or Air Canada Aeroplan, both of which have great redemption options.

Featured photo courtesy of Brendon Thorne/Bloomberg via Getty Images

Chase Sapphire Preferred® Card

WELCOME OFFER: 80,000 Points


CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners

*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.

Apply Now
More Things to Know
  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases within your first year of account opening.
  • Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
  • With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
  • Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.
Regular APR
15.99%-22.99% Variable
Annual Fee
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Recommended Credit

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.

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.