Why I Am Burning All My JetBlue Points Now

JetBlue is in trouble. The New York-based airline is heavily indebted and hasn’t made an annual profit since 2019, and now its creditors have hired restructuring advisors, according to media reports. That could signal a looming bankruptcy, during which JetBlue would likely shrink and cut costs to try to become profitable.

Several airlines, including American, Delta, and United, have filed for Chapter 11 bankruptcy and emerged successfully. Others have been less fortunate. Spirit Airlines shut down in 2026 after attempting to restructure, leaving its loyalty program members unable to redeem points.

It’s fair for JetBlue customers who have accumulated TrueBlue loyalty points to ask what they should do with them, given the airline’s situation.

I’m a frequent JetBlue flyer and love its customer service and seats, and I have one of the airline’s co-branded credit cards. But I’m going to use up my nearly 19,000 TrueBlue points before the year ends. Here’s my reasoning.

JetBlue Has a Great Product, but Loses Money

The Wall Street Journal reported that JetBlue’s creditors have hired lawyers and restructuring experts.

JetBlue reported a $257 million loss in the third quarter of 2026 and doesn’t foresee a return to profitability until 2028. That forecast depends on fuel prices. JetBlue’s fuel costs rose 57% in the third quarter from a year earlier, and continued high fuel prices remain a significant risk to JetBlue’s financial recovery.

CEO Joanna Geraghty told CNBC that “we have no intention, no plans to file for bankruptcy. We are not engaged with any restructuring company.”

According to regulatory filings at the end of September, the airline had $8.4 billion in debt and $2 billion in liquidity. Those are worrying numbers, and customers would be justified in fearing that JetBlue might end up like Spirit. But JetBlue has something that Spirit didn’t. Its $16 billion in assets include many valuable airplanes that it owns, unlike Spirit, which leased most of its fleet.

In terms of product and service, JetBlue is no Spirit. Its Mint Studio is one of the best seats across the Atlantic. On cross-country flights, Mint is also among the top flat-bed premium products. Even in economy, JetBlue usually delivers a better experience than its competition. It’s also introducing first class and opening lounges, which might help retain frequent flyers who pay the highest fares.

So what’s ahead for JetBlue? Despite the CEO’s statement, Chapter 11 bankruptcy with a restructuring plan is possible if JetBlue can’t improve its finances.

United Airlines has long been said to be interested in JetBlue, but United CEO Scott Kirby has said he doesn’t want the hassle of a takeover. JetBlue does have something United wants: a lot of lucrative takeoff and landing slots at New York’s JFK airport. United doesn’t currently fly from JFK, and Kirby wants to change that. For now, JetBlue and United are in a partnership.

But all that is hypothetical, and I have TrueBlue points in my account right now. So I’ve decided to burn them up while they are sure to have value.

How I’m Using My TrueBlue Points

I’ve used most of my TrueBlue points, but I still have 18,819 of them. That’s not a huge amount, but with JetBlue’s reasonable domestic redemption rates, they can get me pretty far.

I need to be in San Diego in mid-November, and my JetBlue points are enough for a one-way flight there, which costs 18,500 points and $5.60 in fees. I could pay just 14,200 points for a Base fare, but I don’t want to risk the $150 fee for changing or canceling the ticket.

After the flight, I’ll get 1,850 points back with the 10% rebate on award redemptions offered by The JetBlue Plus Card I’m using. Effectively, this redemption will cost me 16,650 TrueBlue points.

With JetBlue’s extensive Caribbean network, TrueBlue points can also be good for flights to vacation spots. For example, 18,819 points are enough for a November round-trip in Main Base between JFK and Nassau (NAS) in the Bahamas, with $155 in fees.

What if I use up my points and JetBlue doesn’t go under? Not a problem. There are lots of ways to earn TrueBlue points, including 1:1 transfers from credit cards I use daily. It’s unlikely those points-transfer abilities would be affected by a Chapter 11 bankruptcy restructuring.

What Will Happen With My JetBlue Plus Credit Card?

The JetBlue Plus card isn’t my most-used airline co-branded card, but it’s earned its place in my card lineup thanks to 2 features that offset its $99 annual fee.

The JetBlue Plus Card

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

Earn major points to redeem for JetBlue flights and more! Earn up to 6x points in various categories and a yearly point bonus.

Apply Now(at Barclays' secure site)

The JetBlue Plus Card

Earn major points to redeem for JetBlue flights and more! Earn up to 6x points in various categories and a yearly point bonus.

Welcome Offer

Earn 70,000 bonus points after spending $1,000 on purchases and paying the annual fee in full, both within the first 90 days.

70,000 points

Annual Fee

$99

Why We Like This Card

The information regarding the JetBlue Plus Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer. 

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The JetBlue Plus card is a must-have for frequent JetBlue flyers. Not only does it help you earn more points on all of your JetBlue flights, but also offers perks like a rebate on award tickets, free checked bags, discounts on inflight purchases, and more.

Plus, The JetBlue Plus card can help you qualify for JetBlue TrueBlue Mosaic elite status, making your future flights with JetBlue even more rewarding.

Pros & Cons

Pros

• 6x points on eligible JetBlue purchases
• 2x points at restaurants and eligible grocery stores
• Free first checked bag for you and up to 3 eligible travel companions on JetBlue-operated flights

Cons

• Charges an annual fee
• Does not earn transferable rewards

Read Full Review

Card Highlights

• Earn 70,000 bonus points after spending $1,000 on purchases and paying the annual fee in full, both within the first 90 days.
• Earn 6X points on eligible JetBlue purchases.
• Earn 2X points at restaurants and eligible grocery stores.
• Earn 1X points on all other purchases.
• Earn 5,000 bonus points every year after your account anniversary.
• Enjoy Mosaic benefits if you spend $50,000 or more on purchases each calendar year with your card.
• Enjoy an annual $100 statement credit after purchasing a JetBlue Vacations package of $100 or more with your JetBlue Plus Card.
• 50% inflight savings on cocktails and food purchases.

Financial Snapshot

• Foreign Transaction Fees: None

Rewards Center

JetBlue TrueBlue Frequent Flyer Program

First, it comes with a free first checked bag for the cardholder and up to 3 travel companions on the same reservation. Since I don’t have JetBlue elite status that would waive those fees, I’d pay $100 to check a bag on a round-trip. If I fly JetBlue round-trip with a checked bag just once a year, that benefit alone entirely offsets the annual fee.

Second, The JetBlue Plus card grants 5,000 bonus points every year after your account anniversary. We currently value JetBlue points at 1.3 cents each, so that bonus is worth $65.

There’s no incentive for me to get rid of the card, unless JetBlue does disappear, and not until then.

Final Thoughts

There are reasons to be concerned about JetBlue’s survival, even though it’s in a different situation from Spirit, the last sizable U.S. airline to go out of business.

I am not especially pessimistic about the fate of JetBlue, but I’m opting to spend my TrueBlue points soon. If you have a use for them now, spend them. If the airline remains in business, you can quickly replenish your JetBlue account with transferable credit card points.