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Capital One Venture card now has a new airline miles transfer option — is it worth it?

Capital One Venture Rewards COF, +0.27% cardholders will soon have another way to cash in the miles they earn with the card. The program could appeal to people who do a lot of overseas travel, but others may want to think twice.

Starting in December, Venture customers will be able to convert the miles they earn with their credit card into airline miles for 12 travel loyalty programs. They can then use those miles to book airline award tickets, get special deals, top off their mileage account and upgrade existing bookings. The miles transfer benefit will also be available for VentureOne, Spark Miles and Spark Miles Select cardholders.

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