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Capital One is spicing it up with some new changes to its rewards program. You’ll see a new transfer partner, elevated transfer bonuses and even new cancellation options to keep you feeling confident when booking flights.

New Transfer Partner

First up, Capital One is adding a brand-new transfer partner, Virgin Red. If you aren’t familiar with Virgin Red, it’s Virgin Group’s new rewards club program that launched in the United States last fall.

It allows you to earn and redeem points through flights, hotel stays, experiences and charitable donations. It can be linked with your Virgin Atlantic Flying Club account to pool your points together.

With Capital One adding Virgin Red as a transfer partner, you’ll now be able to transfer points from most of the flexible currencies including Chase Ultimate Rewards, American Express Membership Rewards, Citi ThankYou Points and Bilt Rewards. If you’ve got your eye on booking the Delta One suites through Virgin Atlantic, it’s now even easier to earn the points to do so.

Improved Cancellation Feature

Capital One will be rolling out a new feature that gives you the ability to pay a small fee within Capital One’s travel portal to cancel a flight for any reason. With this feature, you can cancel a flight up to 24 hours prior to departure and get most of your ticket cost back.

We’re not sure what the fee will be yet, but since travel has been so unpredictable over the past two years, having a feature like this gives you another layer of protection when making your purchase through Capital One Travel.

Good Welcome Offers

The Capital One Venture X Rewards Card launched in November 2021. If you’re over 5/24 and can’t get any more Chase cards, this is a great card to look into.

Capital One Venture X Rewards Credit Card

Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel


Final Thoughts

Over the past year, we’ve seen Capital One make a concerted effort to improve its rewards program by adding new transfer partners, improving the transfer ratios of those transfer partners and launching a new premium travel rewards card that is competitive with the top cards on the market.