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This offer has actually been around for a couple of weeks, though I only caught wind of it now.
JetBlue is offering up to a 50% bonus on purchased TrueBlue points through April 30, 2015.
The bonus is tiered, meaning you earn a higher percentage bonus the more points you buy, as follows:
- 5,000-9,500 points: 20% bonus
- 10,000-19,500 points: 30% bonus
- 20,000-29,500 points: 40% bonus
- 30,000 points: 50% bonus
The bonus applies if you purchase anywhere between 5,000 and 30,000 points. TrueBlue members can’t purchase more than 30,000 points per transaction, or 60,000 points per calendar year.
If you max out this promotion you can purchase a total of 45,000 points (30,000 points, plus the 50% bonus) for $886.88. That’s a cost of ~1.97 cents per point.
JetBlue points can typically be redeemed for ~1.4 cents each towards the cost of a ticket, so purchasing them for ~1.97 cents per point simply doesn’t make sense. If you’re redeeming for Mint Class, you’ll sometimes get up to ~1.7 cents per point of value. But that’s still nowhere near two cents per point.
If you need to top off an account towards an expensive redemption, you’re ultimately better off getting some bonus than no bonus, right?
It still does kind of make me cringe that revenue based frequent flyer programs sell points when the value is transparently so bad.
(Tip of the hat to Deals We Like)