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Mar 09

Citibank Transfers to JetBlue Offering A 50% Bonus

Citibank ThankYou points (TYP)* are not the most valuable currency, but they do transfer to a number of airlines. The most recent airline partner to join is JetBlue, and Citi is offering a bonus to move points to TrueBlue.

Citibank – JetBlue

thankyou points

A sentiment that won’t play well in Boston.

Typically, transferring 1,000 TYP to JetBlue will earn you 800 TrueBlue points. Until April 30, however, that number gets a 1.5X multiplier, exchanging at a rate of 1.2. I value TrueBlue points at 1.5 cents each, which means that, with the multiplier, one TYP is worth 1.8 cents. In a vacuum, that’s not a great rate (a 2% Citi Double Cash card would be better), but if you already have a lot of TYP, this could be the way to go.

JetBlue has clearly been trying to boost its profile. If you look at the number of promotions that it has run recently, it’s easy to see that the company out for market share.

 


*Beginner’s Hint: Banks generally offer a few different types of cards. In Citibank’s case, you can get ones that pay you back in cash, pay you in a partner’s points (such as the Citibank American Airlines card, which earns AA miles) and cards that give you the company’s proprietary currency. In the case of Citibank, the proprietary currency is called “ThankYou Points (TYP).” Based on the type of purchase you make and type of card you have, you’ll earn one or more TYP per dollar spent. The points can be transferred to loyalty programs, used to shop or used to pay your bill.

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