Capital One Adds JetBlue as a Transfer Partner with Subpar Transfer Rate

With the addition of JetBlue as a transfer partner, Capital One cardholders now have another option for redeeming their miles. Unfortunately, the transfer rate to JetBlue’s TrueBlue program is less than ideal, converting at a 1,000:600 ratio. This rate pales in comparison to some of Capital One’s 15+ transfer partners, which often offer a more favorable 1:1 transfer ratio. JetBlue’s TrueBlue points maintain a somewhat fixed value similar to Southwest, limiting the potential for extracting outsized value from transferred miles.

Capital One touts the capability of earning an effective 1.2 JetBlue points per dollar spent with its 2X earning cards. Still, this remains a suboptimal choice when considering alternatives. For transferring to JetBlue, every dollar spent might yield up to 1.8 cents in value due to the restrictive transfer ratio. In contrast, Capital One miles can be redeemed directly for travel purchases at 2 cents per point, providing substantially better value. Unless Capital One offers a generous transfer bonus, a scenario which remains speculative at best, this new transfer path delivers limited appeal. Exceptions might include situations where users are narrowly short of points for award flights, rendering small top-offs viable.

Our Take

Currently, transferring Capital One miles to JetBlue offers limited benefits. The math overwhelmingly supports direct redemptions or transfers to other partners where higher value can be leveraged. Given the transfer ratio, even when factoring potential top-off scenarios, alternatives like Chase Ultimate Rewards or Citi ThankYou points, offer better pathways for linking to JetBlue at a more favorable 1:1 rate.

To maximize your travel rewards, consider the broader landscape of available transfer partners. Keep an eye on potential promotions or bonuses that might tilt the balance, but until then, your points are better utilized through other outlets.