The Amex Membership Rewards program in the United States has just introduced its newest transfer bonus, which isn’t valid for very long. While this offers an advantageous transfer ratio to a partner where we don’t often see such offers, is it worth it? Let’s take a look…
Amex offering 10% JetBlue TrueBlue transfer bonus
Between May 4 and May 11, 2026, you can receive a 10% bonus when you transfer Amex Membership Rewards points to JetBlue TrueBlue. Points generally transfer from Amex to JetBlue at a 250:200 ratio, so during this promotion, they’d transfer at a 250:220 ratio.
This promotion is being offered on Amex’s end (in the United States), and is hard coded into the transfer ratio, meaning you should see the bonus at the time that you make the transfer. You can take advantage of this offer an unlimited number of times, though you’re limited to transferring 999,750 points per transaction (not that this is a limit that will impact many people).
There are lots of fantastic cards for earning Amex Membership Rewards points. Transfers from Amex to TrueBlue are generally instant. Keep in mind that transfers from Amex to US frequent flyer programs are subjected to a federal excise tax of 0.06 cents per transferred point, up to a maximum of $99. In other words, transferring 100,000 points would cost $60.
We last saw a transfer bonus from Amex to JetBlue back in late 2024, so an offer between the two programs seems to come around less than once a year. That being said, the last offer was for a 25% bonus, while this one is only for a 10% bonus, so this is much less generous.
Should you transfer Amex points to JetBlue TrueBlue?
How much are JetBlue TrueBlue points worth? If you’re redeeming for travel on JetBlue, each TrueBlue point will typically get you at most 1.5 cents toward the cost of a JetBlue ticket, and that’s on the very high end. Personally I value TrueBlue points at 1.3 cents each. So that’s not a terrible rate at which to cash out JetBlue points, but also not great.
I should mention that if you have JetBlue’s most premium card, you can get a 15% award rebate, so that can stretch points a bit further, but still, it’s not amazing.
One other thing to keep in mind is that JetBlue TrueBlue has gotten better about adding redemptions on partner airlines in recent times, including on Qatar Airways, Condor, and United Airlines. We’re also now seeing redemptions added on China Airlines.
For example, looking at one-way business class pricing, an award from the United States to Qatar starts at 70,000 points, and an award from the United States to Germany starts at 54,000 points.
The catch is that award availability can be tough to come by, and on top of that, connections will cost you extra. Still, at least there are some circumstances where one can get outsized value on partners using TrueBlue points.
One major hesitation I’d have with moving Amex points to JetBlue is that the program also often sells points at a reasonable cost, and at that rate I’d typically rather buy them outright, rather than using valuable Amex points.
Bottom line
Through May 11, 2026, Amex Membership Rewards is offering a 10% bonus when you transfer points to JetBlue TrueBlue, meaning you can transfer points at a 250:220 ratio. If you fly JetBlue frequently, this could be a way to get decent value with your Amex points, better than most other ways to cash out these points. There are also a limited number of partner redemption opportunities that could represent a good deal.
I don’t plan on taking advantage of this offer, personally, but I know others may find value with it.
Do you plan on taking advantage of Amex’s 10% transfer bonus to JetBlue?