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

Sep 15, 2019

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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.

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

2018 TPG Award Winner: Mid-Tier Card of the Year
Chase Sapphire Preferred® Card

NEW INCREASED OFFER: 60,000 Points

TPG'S BONUS VALUATION*: $1,200

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.

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More Things to Know
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants worldwide & 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, 60,000 points are worth $750 toward travel
Intro APR on Purchases
N/A
Regular APR
17.74% - 24.74% Variable
Annual Fee
$95
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Recommended Credit
Excellent/Good

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