The Chase Ultimate Rewards program has just introduced its latest transfer bonus, which I’m sure some people will find to be worthwhile. This complements the 25% Air France-KLM Flying Blue bonus that’s valid through November 30, 2023.
Chase offering 25% JetBlue TrueBlue transfer bonus
Through Wednesday, January 10, 2024, you can receive a 25% bonus when you transfer Chase Ultimate Rewards points to JetBlue TrueBlue.
You can take advantage of this offer an unlimited number of times. Transfers from Chase to TrueBlue are generally instant. There are several great cards earning Chase Ultimate Rewards points, and it’s easy to combine points between the cards.
Should you transfer Chase points to JetBlue TrueBlue?
JetBlue TrueBlue is a revenue based frequent flyer program, meaning the cost of an award ticket varies based on how much a ticket would cost in cash. The thing is, the pricing isn’t totally linear, so it’s not that one point consistently gets you the same amount toward the cost of a ticket.
I find that you can usually get somewhere around 1.4 cents of economy airfare per TrueBlue point (frustratingly, Mint redemptions get you less value per point). Personally I value JetBlue TrueBlue points at 1.3 cents each, to account for the points you’re forgoing when you redeem points rather than booking a revenue fare.
Given that the transfer ratio between the currencies is typically 1:1, right now you’re getting a 1:1.25 transfer ratio. That means you could be looking at getting around 1.75 cents of airfare per Chase Ultimate Rewards point, which is quite good.
One way to get even more value is if you have the JetBlue Plus Card. That’s because the card offers a 10% refund on all redeemed points, which helps stretch your points even further. So assuming you have the card, you should be able to get somewhere approaching 2.0 cents of value per Chase Ultimate Rewards point, which is great.
JetBlue TrueBlue also recently rolled out redemptions on Qatar Airways, and you can redeem for travel in business class. You can fly from the United States to Qatar for 70,000 TrueBlue points, so with a 25% bonus, you could be looking at paying significantly fewer Chase points than that.
There’s definitely value to be had with this promotion, though there are lots of great ways to redeem Chase Ultimate Rewards points.
Bottom line
Through January 10, 2024, you can receive a 25% bonus when you transfer Chase Ultimate Rewards points to JetBlue TrueBlue. Given that TrueBlue points typically get you about 1.4 cents each toward the cost of a ticket on JetBlue, you could potentially be looking at getting around 1.75 cents of value per point toward JetBlue tickets with this promotion.
I wouldn’t speculatively take advantage of this promotion, but if you have a specific use in mind for JetBlue points, this could be a great value.
Do you plan on transferring Chase points to JetBlue TrueBlue with a 25% bonus?
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