Credit Card News
Capital One Announces New Transfer Partners and Other Travel Updates
As hope for a revitalized travel market continues to rise, one credit card issuer has just made big moves. This week, Capital One made a series of announcements in regards to their travel partnerships and more. First, as The Points Guy reports, Capital One has enlisted four new transfer partners. These include British Airways, Turkish Airlines, TAP Portugal, and Choice Hotels. With these additions, the card issuer now offers 19 transfer partners, including 16 airlines and three hotel chains.
Going hand in hand with the newly-announced transfer partners, Capital One has also adjusted the transfer rates for several of its existing partners. Now, instead of points transferring at a rate of 2:1.5 (or 2:1 in some cases), select programs will now see points transfer at a ratio of 1:1. These 1:1 transfer partners include Avianca, Etihad, Cathay Pacific, Aeromexico, Finnair, Qantas, TAP Portugal, and Wyndham. Additionally, Choice Hotels will join this category later this year.
Elsewhere, Capital One has also shared an update on their plans to open their own airport lounges. Originally, it was revealed that Washington Dulles International Airport would be the site of the first lounge. However, the Dulles location is now slated for a 2022 debut while Dallas-Fort Worth International Airport will open the first Capital One lounge later this year. According to Capital One (via The Points Guy), these lounges will be “open to everyone, but certain Capital One cardholders will be eligible for a special entry rate and additional perks.” Each of these locations will feature such amenities as food and beverage options, a cycling and yoga room, relaxation rooms, and more.
Surely not by coincidence, the news regarding Capital One’s upgraded transfer partners and lounge plans arrives as the Capital One Venture card is currently offering a welcome bonus worth up to 100,000 points. At this time, new cardholders can earn 100,000 miles when they spend $20,000 on purchases in their first 12 months from account opening — or can still earn 50,000 miles if they spend $3,000 on purchases in their first 3 months. With the Venture card earning 2 miles per dollar spent on every purchase, this now amounts to up to 2 miles/points you can transfer to the partner of your choice. Alternatively, cardholders can redeem their miles at a rate of 1 cent per point for any hotel or airline booking with no blockout dates. It should be noted, however, that the Capital One Venture card does carry an annual fee of $95.
Overall, these recent announcements from Capital One are a positive development for cardholders and big news for the company. With the addition of new transfer partners and improved transfer ratios for some brands, Capital One’s miles currency could now prove more valuable to travelers. Meanwhile, the brand’s airport lounge roll-out begs several questions that cannot yet be answered. In any case, it looks as though American Express and Chase may have some increased competition when it comes to luring travel credit card customers.
