Capital One announces three new transfer partners, creating a robust program that offers a very balanced assortment of airlines and hotel loyalty programs.

Capital One adds two airlines and a hotel chain

This week, Capital One added three new transfer partners:

• Japan Airlines (JAL) Mileage Bank, at a 2 : 1.5 ratio (1,000 Capital One miles to 750 JAL miles)
• Qatar Airways Privilege Club, at a 1 : 1 ratio
• I Prefer Hotel Rewards, at a 1 : 2 ratio

JAL is a member of the oneworld alliance, which brings flights across the Pacific, connecting Japan with the rest of the world. Prior to 2025, it was difficult to earn miles in JAL since it wasn’t available as a transfer partner. That changed with Bilt, which added the partner in May 2025, and now with Capital One following suit.

Qatar Airways is another program that offers avios. It’s a currency that offers quite a few different flavors, as it’s also the program for Aer Lingus, British Airways, Finnair, and Iberia. It is possible to transfer your avios freely between the accounts, so adding Qatar cuts out a potential hassle in getting the avios to your intended airline program.

I Prefer is the loyalty program for Preferred Hotels, a collection of hotels that is sometimes also bookable with Choice Privileges. Points prices for hotels under the I Prefer program can be different than what Choice Privileges charges, which adds some annoyance. Having both Choice and I Prefer as transfer partners allows you to cherry-pick the better price, which is good.

This brings the number of transfer partners to 22

Capital One now has a nice collection of transfer partners across different airline alliances and hotel loyalty programs:

• oneworld alliance: British Airways, Cathay Pacific, Finnair, JAL, Qantas, Qatar Airways
• SkyTeam alliance: Aeromexico, Air France, Virgin Atlantic
• Star Alliance: Air Canada, Avianca, EVA Air, Singapore Airlines, TAP, Turkish Airlines
• Non-alliance: Emirates, Etihad, JetBlue
• Hotels: Accor Life Limitless, Choice Privileges, I Prefer, Wyndham Rewards

More choices is never a bad thing, but rates aren’t great

Let’s first talk about JAL, which comes in with a 2 : 1.5 transfer ratio. It’s nicer when transfers are a simple 1 : 1 ratio to make it easy to calculate. Having a ratio that loses value in the transfer means you’ll need to do some math to understand if the deal is good or not. On top of that, Bilt has the ratio at 1 : 1 for JAL, so it makes you wonder why Capital One couldn’t work out a similar deal.

As a temporary measure, Capital One does have a temporary transfer bonus right at the start. Until October 22, 2025, there will be a 30% bonus on the transfer ratio. This bonus boosts the rate temporarily to nearly even at 2 : 1.95. In other words, 1,000 Capital One miles will become 975 JAL miles.

Still, not everyone has Bilt points, so to be sure, adding JAL as a Capital One transfer partner is better than not having it available, even if it’s a poor rate.

The other poor rate is for I Prefer. While it’s good news that Capital One finally introduced a rate that is greater than 1 : 1, it’s not the best rate out there. Citi ThankYou allows transfers to I Prefer at a whopping 1 : 4 rate, doubling what Capital One gives. Again, not everyone has Citi points, so it’s better having more options, but you can do better.

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