Travel Points MathTravel points strategy and award booking

JAL Miles from Capital One or Citi: Which Costs Fewer Points

Of the big banks, only Citi and Capital One transfer to Japan Airlines Mileage Bank; Bilt Rewards also does, at 1:1. Citi's Strata Premier, Strata Elite, Prestige and AT&T Access More send 1,000 points as 1,000 JAL miles, its other cards 700, and Capital One 750 (2:1.5). Citi's 30% JAL bonus runs to October 24, 2026; Capital One's is reported as running September 1-30, 2026. The table shows what a JAL award costs from each, with and without a bonus.

Travel Points MathReviewed September 26, 2026 · Updated September 27, 202610 min read

Two of the four big banks transfer to Japan Airlines Mileage Bank: Citi and Capital One. Chase and Amex do not. Bilt Rewards, a rewards program that earns on rent and other spending rather than a bank, also lists JAL: its partner page prints 1,000 Bilt Points = 1,000 JAL miles. From Citi, 1,000 ThankYou points become 1,000 JAL miles on a Strata Premier, Strata Elite, Prestige or AT&T Access More card and 700 on its other cards. From Capital One, 1,000 miles become 750 (Capital One prints 2:1.5). So a premium Citi card is the cheapest bank route at any time; Bilt's 1:1 ties it when no Citi bonus runs. Between Capital One and Citi's other cards, Capital One wins when neither bank has a bonus running, and when both do.

Bonuses change that order while they last. Citi's own listing shows a 30% JAL bonus for transfers completed September 20 to October 24, 2026. Capital One's 30% JAL bonus is reported by Doctor of Credit and Thrifty Traveler as running September 1 to September 30, 2026; Capital One's partner page is an explainer that does not list bonuses, so check your own transfer screen. The tables below price an award with and without each bonus, so they stay usable after each window closes.

What does 1,000 points become in JAL miles from each bank?

Route No bonus With a 30% bonus
Citi Strata Premier, Strata Elite, Prestige or AT&T Access More 1,000 1,300
Citi Strata, Double Cash, Custom Cash, ThankYou Preferred and other cards 700 910
Capital One (Venture, Venture X and other miles cards) 750 975
Chase Ultimate Rewards no route no route
Amex Membership Rewards no route no route
Bilt Rewards 1,000 no bonus shown

Citi's figures are from its ThankYou partner listing (read September 25 and 26, 2026). Capital One's are from its partner page, dated January 29, 2026 (read September 25 and 26). Bilt's is from its JAL partner page (read September 27, 2026). The Chase and Amex lists are in the transfer partner matrix.

What does a JAL award cost from each bank?

Bank points to send are the award price divided by what one point becomes, rounded up to the 1,000-point transfer step. The award prices are hypothetical, not live JAL prices:

JAL award Citi premium, no bonus Citi premium, 30% bonus Citi other cards, no bonus Citi other cards, 30% bonus Capital One, no bonus Capital One, 30% bonus
25,000 25,000 20,000 36,000 28,000 34,000 26,000
50,000 50,000 39,000 72,000 55,000 67,000 52,000
85,000 85,000 66,000 122,000 94,000 114,000 88,000

How to read it:

  • Premium Citi card: always the cheapest bank route. Without a bonus it costs a quarter fewer points than Capital One (50,000 against 67,000 for a 50,000-mile award).
  • Citi's other cards against Capital One, no bonus on either: Capital One is cheaper (67,000 against 72,000).
  • Only Citi's bonus running (the position from October 1 to October 24, 2026, unless Capital One starts a new one): Citi's other cards are cheaper than Capital One (55,000 against 67,000).
  • Only Capital One's bonus running: Capital One is cheaper than Citi's other cards (52,000 against 72,000), but a premium Citi card at no bonus still wins (50,000).
  • Both bonuses running (the position reported through September 30, 2026): Capital One 52,000, Citi's other cards 55,000, a premium Citi card 39,000.
  • Bilt Rewards: at 1:1 it costs the same as a premium Citi card with no bonus (50,000 for a 50,000-mile award), and fewer than Capital One or Citi's other cards at every award size in the table, with or without their bonuses. Only a premium Citi card with its 30% bonus costs less (39,000).

If you hold both currencies, the which-points-to-transfer calculator runs this for your own award and balances, counts a bonus only while its window is open, and splits the transfer if neither balance covers it. For one bank and a bonus you are looking at now, the transfer bonus calculator pre-fills Citi's and Capital One's JAL rates.

What if you only hold Chase or Amex points?

There is no direct route. The one indirect path is through a hotel program: Chase sends Marriott Bonvoy 1:1, and Marriott's own points-to-miles page converts to most airline programs at 3 Marriott points per mile, with 5,000 bonus miles for every 60,000 points. Amex also sends Marriott 1:1, so the same path works from Amex points. Marriott's page lists JAL among its airline partners at 3:1. That turns 60,000 Chase or Amex points into 25,000 JAL miles at best, about 417 miles per 1,000 points, and costs the time of two transfers. It rarely beats paying cash. The Marriott points-to-miles guide covers that math and the checks.

What should you check before transferring to JAL?

  • Find and price the award in JAL Mileage Bank itself, in JAL miles, at the date and cabin you will book. A third-party estimate is not enough.
  • Check the card tier on Citi. The full rate belongs to Strata Premier, Strata Elite, Prestige and AT&T Access More cardmembers; everything else gets 70% of it. Your own Citi transfer screen shows the rate for your account.
  • Check the bonus on your own transfer screen, and complete the transfer inside the window. Citi counts transfers completed by October 24, 2026.
  • Hold a Capital One card that earns miles. Venture and Venture X earn transferable miles; a cash-back-only card does not transfer on its own.
  • Open the JAL Mileage Bank account first, in your own name. Capital One says the name on the loyalty account must match the name on your Capital One account; check the account-holder rule on Citi's transfer screen before a Citi transfer. Who you can then book a JAL award for is set by JAL's rules.
  • Allow for JAL's wait on new accounts. Thrifty Traveler reports that JAL normally makes new members wait 60 days before redeeming, and that Capital One arranged a shorter wait for miles transferred from Capital One. This is reporting; check JAL Mileage Bank before relying on it.
  • Read JAL's expiration and award rules. Reporting describes a fixed expiry on JAL miles and limits on who an award can be booked for. Check JAL Mileage Bank's current rules before moving points.
  • Accept that the transfer is final. Neither bank takes miles back.

When should you skip the transfer?

  • You do not have a JAL award found and priced yet.
  • The only reason to transfer is the bonus deadline. A 30% bonus is a discount on an award you already want, not a reason to hold JAL miles.
  • On Citi's lower tier or on Capital One with no bonus running, the award costs 33% to 43% more bank points than its JAL price. Compare that cost with the cash fare before transferring.
  • A partner airline's own program reaches the same flight for fewer points. Other oneworld programs on these banks' lists, such as Qantas, Cathay Pacific Asia Miles and Qatar Airways Privilege Club, can sometimes book the same flights; price them before committing to JAL.

How has the Capital One JAL bonus run before?

Capital One added Japan Airlines Mileage Bank, Qatar Airways Privilege Club and I Prefer Hotel Rewards as transfer partners in the autumn of 2025, as CNBC Select reported on October 1, 2025. Doctor of Credit says Capital One had run the 30% JAL bonus three times before the September 2026 round; Thrifty Traveler calls it the fourth in the past 12 months. That history makes another round plausible, but it is reporting, not a Capital One commitment, and no one can promise a date.

FAQ

What is the Capital One to JAL transfer ratio?

2:1.5, which Capital One prints on its partner page: 1,000 Capital One miles become 750 JAL miles. With a 30% bonus they become 975.

What is the Citi to JAL transfer ratio?

Citi's listing prints 1,000 points = 1,000 JAL miles for Strata Premier, Strata Elite, Prestige and AT&T Access More cardmembers and 1,000 = 700 for other Citi cards. With its 30% bonus, running for transfers completed September 20 to October 24, 2026, those become 1,300 and 910.

Can I transfer Chase points to Japan Airlines?

Not directly. JAL is not on Chase's partner list, and it is not on Amex's either. The only indirect path runs through Marriott Bonvoy (Chase or Amex to Marriott 1:1, Marriott to JAL 3:1 with its 60,000-point bonus), which returns about 417 JAL miles per 1,000 points at best.

Is the September 2026 Capital One JAL bonus still running?

It is reported as running through September 30, 2026 (Doctor of Credit and Thrifty Traveler). Capital One's public partner page does not list bonuses, so check your own Capital One transfer screen before relying on it, and for any later round.

What we checked, and when

What we checked Source Checked
Citi's JAL rates (1,000 on Strata Premier, Strata Elite, Prestige and AT&T Access More; 700 on other cards) and its 30% bonus for transfers completed September 20 to October 24, 2026 Citi ThankYou partner listing (issuer's own page) 2026-09-25 and 2026-09-26
Capital One's JAL ratio of 2:1.5; the name on the loyalty account must match your Capital One account Capital One Miles Transfer Partners guide, dated January 29, 2026 (issuer's own page) 2026-09-25 and 2026-09-26
Bilt's JAL rate of 1,000 Bilt Points = 1,000 JAL miles, in 1,000-point increments, with no bonus shown Bilt Rewards JAL partner page (issuer's own page) 2026-09-27
JAL is not on Chase's or Amex's partner list Chase and Amex partner pages (issuers' own pages) 2026-09-25 and 2026-09-26
Marriott converts at 3:1 with 5,000 bonus miles per 60,000 points to most programs, JAL among them Marriott Bonvoy points-to-miles page (program's own page) 2026-09-25 and 2026-09-26
Capital One's 30% JAL bonus runs September 1-30, 2026, its fourth round in about a year; JAL's 60-day new-account wait and Capital One's shorter wait Reported by Doctor of Credit, Thrifty Traveler and CNBC Select 2026-09-22

The award prices in the tables are hypothetical; live JAL award availability and prices are not covered here.

Sources

Last reviewed: 2026-09-26; Bilt's JAL page read 2026-09-27. Re-read Citi's listing after October 24, 2026, when its JAL bonus ends, and Capital One's page for any new round.

Sources

  1. Citi ThankYou, Points Transfer partner listing (Japan Airlines Mileage Bank: 1,000 points = 1,000 miles on Strata Premier, Strata Elite, Prestige and AT&T Access More, 700 on other cards; 30% bonus for transfers completed September 20 to October 24, 2026), read 2026-09-25 and 2026-09-26
  2. Capital One, Miles Transfer Partners guide (page dated 2026-01-29; Japan Airlines Mileage Bank 2:1.5; name must match), read 2026-09-25 and 2026-09-26
  3. Chase, Transfer credit card points with Chase Ultimate Rewards (partner list without JAL), read 2026-09-25
  4. American Express, Membership Rewards transfer partners (list without JAL), read 2026-09-26
  5. Bilt Rewards, Japan Airlines partner page (1,000 Bilt Points = 1,000 JAL miles; 1,000-point increments; no bonus shown), read 2026-09-27
  6. Marriott Bonvoy, points-to-miles redemption page (3:1, 5,000 bonus miles per 60,000 points), read 2026-09-25
  7. Doctor of Credit, on the September 2026 Capital One to JAL 30% transfer bonus, accessed 2026-09-22
  8. Thrifty Traveler, on the September 2026 Capital One to JAL transfer bonus, accessed 2026-09-22
  9. CNBC Select, on Capital One's new transfer partners, accessed 2026-09-22

· Reviewed

Scope: Travel points strategy and award booking. We update this guide as the underlying search behaviour changes.

Points vs cash decisions

Transfer Before the Bonus Ends, or Wait? Do the Math

Transfer before a bonus ends only if you already have a specific redemption that beats your baseline value once the bonus is applied — a deadline is not a reason by itself. Two real September 2026 bonuses (Amex to British Airways Avios at 30% through September 27, and Citi ThankYou to Leaders Club at 25% through September 19) show how deadline pressure and actual value are separate questions.

Reviewed September 16, 20269 min read