I have had a couple friends tell me that their Capital One MilesOne card allows them to accumulate miles on its own account then, like Diners Club, transfer them to an airline of their choice.

Every offer that I have seen for this card including the online one that has the exact card pictured that my friend had, indicate otherwise. According to the offers, the "miles" are not really even miles but points in its own program that can only be redeemed directly for a flight (with a price cap) when enough of them are accumulated. There is even a Q&A section that says that "because if the flexibility of the MilesOne program, miles cannot be combined with those earned on an airline."

Does anyone have an explanation?