Abstract When good things happen, individuals will often retell this good news to others, a process termed capitalization. In so doing, individuals sharing their good news (i.e., capitalizers) boost their mood and relationships with the person(s) to whom they retell their news (i.e., responders). Most extant research has focused on the benefits for the capitalizers. Capitalization, however, is a social process that affects both capitalizers and responders, and research has only begun to explore the benefits of capitalization for responders. In this article, we provide a fresh perspective on the state of this literature by proposing the interpersonal model of capitalization (InterCAP). We illustrate how InterCAP (a) integrates and organizes existing research and theory, (b) formally emphasizes the interpersonal and iterative nature of the capitalization process, and (c) identifies gaps in current knowledge. We conclude by offering recommendations for integrating InterCAP with other theoretical models and suggestions for future research.