Amex Points Turn Into Flying Blue Miles at 1:1.25 Until October 31
American Express is giving a 25% bonus on transfers to Air France-KLM Flying Blue through October 31, 2026. Capital One is running a 20% bonus to the same program over the same window. Paired with October's discounted Flying Blue promo awards, a one-way business class seat to Europe costs 36,000 Amex points.
The short version
Amex gives 25% extra, so 1,000 Membership Rewards points become 1,250 Flying Blue miles, through October 31, 2026
Capital One gives 20%, so 1,000 Capital One miles become 1,200 Flying Blue miles, same deadline
October promo awards price intercontinental business class at 45,000 miles one-way, down from 60,000
45,000 miles divided by the 1.25 Amex multiplier works out to 36,000 Membership Rewards points
Promo award bookings close October 31, 2026, with travel allowed through March 31, 2027
How much is the Amex transfer bonus worth?
American Express Membership Rewards points transfer to Flying Blue at 1:1 normally. The October bonus makes it 1:1.25, so 40,000 points arrive as 50,000 miles. The minimum transfer is 1,000 points and the maximum is 999,000. Amex puts a hard stop on the clock in its offer terms: "This transfer bonus will end at 11:59 p.m. MT on October 31, 2026." Transfers to Flying Blue post in minutes, not days.
Capital One's version pays less and works the same way. Capital One miles move to Flying Blue at 1:1.2 during the promotion, in increments of 100 miles above a 1,000-mile minimum, and the deadline is October 31 at 11:59 p.m. Eastern. Capital One also added a separate 20% bonus to British Airways Club through the same date, which matters if Avios suits your route better than Flying Blue does.
What do October's Flying Blue promo awards cost?
Flying Blue publishes a fresh set of discounted promo awards around the first of every month, cutting the lowest award price by roughly 25%. October 2026 prices intercontinental business class at 45,000 miles one-way instead of 60,000, premium economy at 30,000 instead of 40,000, and intercontinental economy at 18,750 instead of 25,000. Within Europe, economy drops to 7,500 miles and business to 18,750.
The discount applies only to the cities on this month's list, and the list changes completely every cycle. October's business class discounts cover Seattle and Mexico City. Premium economy covers Austin, Las Vegas, Miami and Chicago. Economy covers Vancouver, Calgary, Toronto, Ottawa, Montreal, Raleigh/Durham, Houston and Boston. If your airport is not named, the bonus still helps, but the promo pricing does not apply.
What does the stacked math look like?
Start with the October Flying Blue promo price of 45,000 miles for one-way intercontinental business class. With the Amex 25% bonus, you need 36,000 Membership Rewards points to cover it. With the Capital One 20% bonus, you need 37,500 Capital One miles. Either number buys a lie-flat seat across the Atlantic that Air France and KLM sell for roughly $2,000 to $3,000 in cash, which is why this stack keeps turning up in October.
Book one-way searches at airfrance.com or klm.com using the pay-with-miles option. Popular business class promo routes sell out within days of the monthly refresh, so the first week of the month is the real booking window, not the last. Flying Blue allows free cancellation within 24 hours of booking.
What is the catch?
Flying Blue split its award tickets into Light, Standard and Flex fares on September 8, 2026. Light keeps the old price and drops your checked bag and your change rights. A 45,000-mile business class promo award at the Light level is a cheap seat with no flexibility, and paying for a bag later eats part of the savings. We covered how the three award fares differ when the change landed, and that post is worth reading before you transfer anything.
The other risk is the one every transfer bonus carries. Points leave Amex or Capital One permanently. Amex spells it out: miles cannot be moved back once transferred. Transfer after you find the seat, never before. Our beginner guide to transfer bonuses walks through the order of operations, and if you are weighing programs against each other, see what points and miles are worth in 2026.
What this means for you
Search Flying Blue availability first. If you find a promo-priced business class seat out of Seattle or Mexico City in your dates, 36,000 Amex points is one of the best transatlantic prices available right now and worth the transfer. If you do not find a seat, hold your points. A 25% bonus on miles you cannot spend is worth nothing, and Flying Blue runs a bonus of some size several times a year.
FAQ
When does the Amex to Flying Blue transfer bonus end?
The American Express 25% transfer bonus to Air France-KLM Flying Blue ends at 11:59 p.m. Mountain Time on October 31, 2026, according to the Amex offer terms.
What is the minimum Amex transfer to Flying Blue?
American Express requires a minimum transfer of 1,000 Membership Rewards points to Flying Blue, with a maximum of 999,000 points per transfer.
Is the Capital One bonus better than the Amex bonus?
No. Capital One pays 20% and American Express pays 25%, so the same 45,000-mile award costs 37,500 Capital One miles or 36,000 Amex points. Use whichever currency you hold more of.
Do Flying Blue promo awards change every month?
Yes. Flying Blue refreshes its promo award list around the first of each month and the eligible cities change completely, so a route discounted in October is usually full price in November.
Can you transfer Flying Blue miles back to Amex?
No. Amex states that once Membership Rewards points are transferred, miles cannot be transferred back to the Membership Rewards account. Confirm award space before moving points.
The bottom line
October's version of this deal is the strongest in months because the bonus and the promo award discount land in the same window and close on the same day. Check your dates out of the named cities this week. The math only works while a seat exists.
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