Capital One recently added TAP Portugal Miles&Go as a 1:1 transfer partner and it is offering 5,000 bonus miles on your first transfer. To take advantage of this offer, you’ll need to transfer a minimum of 5,000 Capital One miles to TAP Portugal. Keep in mind that transfers are not immediate and can take up to seven days to process.That won’t be a problem for most people, since travel to Europe is still largely off the table, but worth considering since the promotion is valid through May 31, 2021.For more TPG news delivered each morning to your inbox, sign up for our daily newsletter.While this promotion sounds like an easy way to bank 5,000 bonus miles, it’s generally not a good idea to transfer points without a specific use in mind. Transfers are not reversible and airline miles can devalue at any time. So as tempting as it may sound to score a 100% mileage bonus in this scenario, I wouldn’t do it unless you’re topping off your account for a specific award.It’s also worth considering that Capital One now has 19 transfer partners, eight of them being 1:1 like TAP.Avianca LifeMilesEtihad GuestAsia MilesAeromexico Club PremierFinnair PlusQantas Frequent FlyerTAP Portugal Miles&GoWyndham RewardsYour Capital One miles may come in handy down the line when you’re booking an Etihad sweet spot award or topping up your Avianca Lifemiles balance for a Star Alliance award that is likely going to be cheaper than using TAP Portugal.Sign up for our daily newsletterEmail addressSign upI would like to subscribe to The Points Guy newsletters and special email promotions. The Points Guy will not share or sell your email. See privacy policy.This promotion aside, Capital One is making some exciting changes to its loyalty program. If you don’t already have a Capital One Venture Rewards Credit Card, now is a good time to consider one. Not only has the expanded partner list and 1:1 transfers made the card more valuable, but you can also score a nice welcome bonus as a new cardholder: 75,000 bonus miles after you spend $4,000 on purchases within the first three months of account opening.
