[Expired] Transfer Capital One Miles to Qantas Frequent Flyer With a 20% Bonus [Ends May 31]

Transfer bonuses always get us excited. They give you more value from the points you’re transferring to make a flight or hotel reservation. We see them fairly frequently, and this month’s list of offers includes a 20% transfer bonus from Capital One to Qantas.

Is this a good deal? Let’s take a look.

Qantas Transfer Bonus Details

This transfer bonus is available for those with eligible Capital One credit cards, letting them convert their Capital One miles to Qantas Frequent Flyer with 20% more value.

Capital One miles typically transfer to Qantas at a 1:1 ratio. Using this bonus lets you transfer at a 1:1.2 ratio. The promotion is available until May 31, 2026, giving you plenty of time to move your miles over if you’re interested.

Is It Worth It?

Qantas Airways, Australia’s flag carrier, is not an airline you’d typically think of for redeeming rewards. Although its Frequent Flyer uses a distance-based award chart, its rates tend to be pricier than those of other airlines. That’s especially true after it increased points booking costs in 2025.

Qantas is one of the few remaining airlines that allows you to book a round-the-world ticket, so if you’re interested in that, it might be worth a look.

Beyond that, booking an award flight with Qantas is usually more expensive than with a fellow Oneworld airline, albeit with 1 exception.

Qantas’ distance-based award chart proves quite useful in this example. Air Tahiti Nui isn’t a member of Oneworld, but it does partner with several Oneworld airlines for its flights. This includes Alaska Airlines, American Airlines, and Qantas.

Thus, you can redeem Qantas Points for expensive flights to the beautiful French Polynesian island of Tahiti with Air Tahiti Nui.

Saving Miles on French Polynesia Flights

Check out this one-way business class award booking from Los Angeles (LAX) to Tahiti (PPT) flying on American Airlines:

Paying 80,000 miles for an 8-hour flight is overpriced, especially when you consider that you can fly from Los Angeles to Europe for just 57,500 miles.

Alaska Airlines offers the same Air Tahiti Nui flight at a price of 60,000 points in business class and 30,000 points in economy.

However, we can take advantage of Qantas‘ distance-based chart to find flights for 82,100 points in business — not a good price — but a fantastic 29,000 points in economy:

With the transfer bonus, you’ll need to transfer just 25,000 Capital One miles for an economy award ticket to paradise.

This becomes even more useful when you realize it’s much easier to earn Capital One miles than Alaska Airlines Atmos Rewards points or American AAdvantage miles. With massive credit card welcome offers available in the last few years, you may have a larger stash of Capital One miles than your balance with either Alaska or American.

Final Thoughts

Capital One is offering a 20% transfer bonus to Qantas Frequent Flyer until May 31, 2026. While this isn’t useful for every redemption, especially after recent increases in award costs, savvy travelers can leverage the bonus to save on flights to French Polynesia.