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‘Tis the season of sharing and caring, and Capital One seems to be all-in with that mantra. Just days after going live with its new transfer program — enabling cardholders to transfer miles to airline partners for award redemptions — it has also triggered a way to share those miles with anyone. Yes, anyone!
While Chase places certain restrictions on Ultimate Rewards point sharing and Citi’s ThankYou point transfers have an expiration date, Capital One is throwing caveats to the wind. In fact, when Matt Knise, Capital One’s Business Analysis and Product Management Director, sat down with TPG himself on a Talking Points podcast episode, one thing he continually hammered home was the company’s intention to leave fine print and asterisks behind. Indeed, this transfer system looks pretty gotcha-free.
To take advantage, login to your Capital One online account, navigate to Use My Miles and select Share Rewards. You’ll then be able to shuffle points online without a transfer fee between your own Capital One cards (from a Capital One VentureOne Rewards Credit Card to the Capital One Venture Rewards Credit Card, for example). Alternatively, you can opt to transfer to someone else’s Capital One account. For now, you’ll need to call in to complete the transfer, but it appears that it’ll be available online soon.
Early reports indicate that you can transfer to anyone — not just family, friends or university buddies that you definitely owe money to — with a Capital One miles-earning account. Transferring between Venture cards and the Capital One Spark Miles for Business card (or vice versa) is possible, and you won’t run into any caps either.
The possibilities here are impressive. Given the open nature of this, you can easily help someone find those last few miles they need to make a memorable award booking happen. If you’re planning to book a trip with a spouse, friend or the whole family, you could choose to transfer miles to the account of someone who has elite status with a given airline partner in order to take advantage of his/her membership perks on the entire booking.
Earning Capital One Miles
You can earn Capital One miles with four cards from the issuer. The Capital One Venture Rewards Credit Card ($95 fee waived the first year) earns 10x miles at Hotels.com when you book at Hotels.com/Venture and pay with your card and 2x miles on all other purchases. The Capital One Spark Miles for Business ($95 fee waived the first year) earns 2x miles on all purchases and is currently offering a sign-up bonus of 50,000 miles when you spend $4,500 in the first 3 months.
Those cards’ no-fee counterparts earn miles as well. The Capital One VentureOne Rewards Credit Card earns 10x miles when you book and pay through Hotels.com/Venture and 1.25x miles on all other purchases and is currently offering a sign-up bonus of 20,000 miles after you spend $1,000 in the first 3 months. The Capital One Spark Miles Select for Business earns 1.5x miles on all purchases and is offering a sign-up bonus of 20,000 miles after you spend $3,000 in the first 3 months.
H/T: Frequent Miler
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