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A deal for 50,000 JetBlue points you might not want

by on Fri June 17, 2016 • 2 Comments
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jetblue50k

There’s a new bonus that will let you earn up to 50,000 JetBlue points.

Here’s the rub…

It involves taking out a loan from BestEgg, which will give you one JetBlue point for every dollar loan you take out, up to 50,000 points for a $50,000 loan.

There’s no prepayment penalty for a BestEgg loan, so you could pay off the loan immediately if you’d like and not pay interest.

The catch is, Best Egg charges an origination fee on its loans.

  • That fee can be as high as 5.99%, but as low as 0.99%.
  • So if you get a low 0.99% origination fee, it’s like buying JetBlue points for one cent each.
  • JetBlue points are worth about 1.5 cents each, so if you get the low origination fee you can come out ahead
  • But you only get the low origination fee if you choose a 3 year term (Best Egg offers both 3 and 5 year loan terms)

There’s no catch to checking what you qualify for. Best Egg will show you a loan offer without a hard pull on your credit report.

But at best you’ll get $250 or so in savings out of this, assuming you get a $50,000 loan with a 0.99% origination fee, and pay it off immediately.

If you were already planning to get a loan, then it might be a decent deal. Though there are other loan providers who will give you a loan without an upfront origination fee, like Sofi, so better to check your rate and options with one of those first.

50,000 JetBlue points could get you around 5 one way trips from New York to Los Angeles when the fare is low. Or a one way trip in JetBlue Mint Class, with points left over on days it’s going for under $600 in cash.

jetblue

It’s rare to see bonuses from JetBlue much more than the 30,000 points offered by the JetBlue Plus, which has a $99 fee and is like buying the points for 1/3 of a cent each.

But with the cost and steps involved, not to mention the questionable chance that you’ll get an offer with a low origination fee, this deal is one with pretty limited appeal.

Chase Sapphire Preferred® Card

Miles dont expireas long as card is open
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Partner Offer

50,000 bonus points

Intro Offer

$0 introductory annual fee, then $95

Annual Fee

$0

Foreign Transaction Fee Waived

Yes

Points Can Transfer to Airline Miles ?

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