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A new JetBlue credit card may be coming – should you get the Amex now?

by on Tue November 4, 2014 • No Comment

Bloomberg reports that JetBlue is shopping around its credit card business, which for years has been with American Express.

That means it’s possible a new bank will start offering a JetBlue card that earns TrueBlue points, and either Amex will be dropped, or it will continue doing so as an alternative to the new bank.

If a new bank steps in, this could be another opportunity for you to earn a bonus by signing up for a new JetBlue card.

Of course it’s impossible to know what the terms of a new card could be, or whether it will be a better or worse deal for ongoing spending.

How does the current card stack up?

The existing JetBlue card is pretty basic.

The sign on bonus is 20,000 points, and the card earns one point per dollar on regular purchases, plus an extra point on JetBlue purchases with a low $40 annual fee.

JetBlue points are generally worth between 1 and 2 cents each, so that bonus could be worth about $300 or so in JetBlue fares.

For example, you can book a $599 seat from New York to Los Angeles in its ‘Mint’ business class for 34,900 points, about 1.7 cents per point in value.

What is the downside?

If Amex ends its JetBlue relationship it’s possible the Membership Rewards transfer option could end with it.

That would be a loss for travelers, even with the dilution when you transfer (every 250 Membership Rewards points become just 200 JetBlue points).

And JetBlue could be in the process of realigning its reward program altogether.

But if you want to gamble on the prospect of two JetBlue signup bonuses, you might want to consider a JetBlue Amex before any switch.

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