Capital One Adds JetBlue As a Transfer Partner: Ratio is Not Competitive
Capital One has added JetBlue's TrueBlue as a transfer partner, allowing you to freely transfer your Capital One Rewards to JetBlue at a ratio of 5:3. This isn't a super competitive linkup, as there are many other ways to use Capital One Rewards to reap better value. Still, let's cover the details.
Capital One's Transfer Partners
As one of the most versatile 'bank points,' Capital One Rewards can be transferred to fifteen airline partners and three hotel partners. You can also use Capital One Rewards to book directly through the bank's travel portal, though you'll often find that you can get a lot more value out of your points by transferring them to partners. To Capital One's credit, the bank publishes a 'transfer partner how-to guide' with some helpful information.
Why this Transfer Relationship Isn't Worth It
In short - it's terrible value. Overall, the rate is not competitive compared to other bank transfer rations. You can currently transfer points to JetBlue from three other banks at these respective ratios - Chase (1:1), Amex (1:.8), and Citi (1:1). For every 10000 Capital One Rewards you send to JetBlue, you'd net 6000 TrueBlue points. In comparison:
- 10000 Chase Ultimate Rewards = 10000 TrueBlue points
- 10000 Citi ThankYou Points = 10000 TrueBlue points
- 10000 Amex Membership Rewards = 8000 TrueBlue points
As you can see, all the other banks maintain a much more competitive transfer ratio with JetBlue than Capital One. While reasonable minds will differ regarding the inherent value of each bank currency, I'm hard-pressed to believe the difference in each bank's points is enough to justify the much lower return you'd get by transferring Capital One Rewards to JetBlue.
And then there's the opportunity cost - you can redeem Capital One Rewards in so many great ways, such as:
Taking advantage of Air Canada's quirky award chart. You can transfer Capital One Rewards to Air Canada's Aeroplan at a 1:1 ratio and fly from Western Europe to the Pacific Rim of Asia in business class for just 110,000 miles, all while adding in stopovers and open jaws.
(Part of) Aeroplan's Award Chart - Source: Air Canada
Air Canada's award chart is both zone and distance-based, allowing you to do some wild cruising in premium cabins as long as you stay within the guidelines.
Fly EVA Air business class from London (LHR) to Bangkok (BKK)...
....enjoy some Tom Yum Goong
...then fly Thai Airways business class from Bangkok (BKK) to Hokkaido's New Chitose Airport (CTS), all for the 110,000 Aeroplan miles which you transferred in from Capital One.
Who knows? Maybe there will be a transfer bonus and you'll spend even less Capital One Miles!
Conclusion
Capital One has added JetBlue as a transfer partner at a 5:3 ratio. This isn't the greatest deal, so you should consider other bank points for any necessary transfers to JetBlue. You might also want to purchase TrueBlue points if you're looking for a handful of miles.