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Just in time for the peak summer travel season, Capital One has unveiled an array of new perks for its travel rewards program. The added benefits make its rewards program much more competitive and range from a huge new limited time offer for one of its best credit cards, to a refreshed miles transfer program that brings more value to travelers. Not to mention the company just announced it will be opening a new plush airport lounge—its first ever—later this summer. Here’s what to know about all the changes.
New 100,000-mile limited time offer
Capital One just introduced an enticing limited time offer for the Capital One Venture card: New cardholders can earn up to 100,000 bonus miles after spending $20,000 on purchases in the first 12 months. If that spending threshold seems a little high, the issuer is also offering cardholders the chance to earn 50,000 miles after spending $3,000 in the first three months.
The Capital One Venture card earns two miles per dollar on every purchase. It also gives cardholders a statement credit for either a Global Entry or a TSA PreCheck membership, as well as access to the perks listed below.
Learn more about applying for the Capital One Venture card here.
Refreshed miles program
In addition to the new welcome offer, Capital One has made some major changes to its miles transfer program to benefit cardholders.
Most valuable to travelers is a new 1:1 transfer tier—meaning that one Capital One mile can be redeemed at a rate of one airline mile or hotel point with select air carrier and hotel partners. (Previously, most mile transfers in the rewards program had a 2:1 ratio.) The airline and hotel loyalty programs that are now a part of Capital One’s 1:1 transfer tier include: Avianca LifeMiles, Etihad Guest, Cathay Pacific Asia Miles, AeroMexico Club Premier, Finnair Plus, Qantas Frequent Flyer, and Wyndham Rewards.
On top of that, Capital One also added four new transfer partners to its loyalty program. That means cardholders can now redeem their miles with British Airways, Choice Hotels, TAP Air Portugal, and Turkish Airlines.
Capital One’s new airport lounges
On top of all of the new loyalty program perks, Capital One also announced that it would be opening its first-ever airport lounge at Dallas-Fort Worth International Airport later this summer. The company also has plans for a second lounge to open its doors to travelers at Washington, D.C.’s Dulles International Airport in 2022.
Capital One says its cardholders will be eligible for special entry rates depending on their card, but it hasn’t yet released specific entry fees.
The lounges will offer “a restaurant-quality in-lounge dining experience with unique touches like craft cocktails on tap, local beers, and regional wines,” the company said in a statement. Other swanky features include a cycling and yoga room, relaxation rooms, nursing rooms, and shower suites.
Condé Nast Traveler has partnered with CardRatings for our coverage of credit card products. Condé Nast Traveler and CardRatings may receive a commission from card issuers.
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