Through the end of October there is a potentially very lucrative promotion with US Airways where you are given a 100% bonus when sharing miles with another US Airways account. There is a cost for sharing miles, so in some ways it helps to think of this as a “buying miles” promotion. The cost to share miles is 1.135 cents per mile, but you then get a 100% mileage bonus for the account you are sharing the miles into, so it is a very good price for purchasing miles if you plan to use them for high priced tickets.
You can read all about the promotion and some examples of some great ways to use the miles you purchase/share, in this post. However, the purpose of this particular post is to share some info that a reader sent me on how they really maximized this promotion.
Just wanted to let you know that you can share your dividend miles and pay with your Capital One Venture card and get the charge reimbursed if you have enough Venture points in your account to cover the transaction. I can confirm this works as I have done this twice. It is a good way to redeem your not-so-great Venture points directly for miles. One consideration is the taxes and fees on top of the price of the miles, but in my opinion topping off my wife and my accounts at US Airways allows for much better redemption options such as an Envoy Suite to Europe, or Lufthansa Business class to Rome via Frankfurt. Those flights can be pricey as you know! Have a good one!
If you have points left from the massive Cap One Venture Card 100,000 point sign-up bonuses that were available for a limited time in early 2011 and 2012, then this may be a good use for those points. Assuming you have US Airways miles to share, someone to share them with, and you have enough Cap One points to cover the cost of the entire transaction (they are worth 1 cent per point), then you can potentially turn 56,750 Cap One points into 50,000 US Airways miles via this sharing miles promotion. Of course, you can also do a smaller transaction, but 50K is the maximum. That is a pretty solid trade in my book considering that the points from the Venture card are worth a fixed 1 cent per point for travel redemptions, and US Airways miles are conservatively worth 1.5 cents per point, and if used strategically they are worth 2 cents or more per point.
I just did a purchase/share US Airways miles transaction today back and forth with my husband’s account, but I don’t have a Venture card, so I can’t test this one out myself. I’d love to hear from others who have done this though! My pending transaction from sharing miles today shows as “Points US Airways Miles” since the transaction is processed by points.com. If I hadn’t heard from someone who’d done the transaction themselves, I would not have known it worked since the transaction is processed by points.com, and the points on the Venture card have to be used for travel…but in a way this is for travel, so there you go.