Barclays is sending out targeted emails to JetBlue business credit cardholders offering 20,000 bonus points when using Plastiq to send $10,000 or more in payments.
- Earn 20,000 bonus points when you use Plastiq payment service for $10,000 or more in bill payment purchases.
- For bill payment purchases from October 1 to December 31, 2018.
- Plastiq signup required using unique referral number (number is given within the email).
- New customers only. Offer does not apply to current Plastiq customers and cannot be combined with a Plastiq referral code.
- The offer is valid for select cardmembers who are new registrants to Plastiq and it is not transferable.
- If you close your account during the promotional period, you may no longer be eligible for this promotion.
- All bonus miles earned will appear on your statement 6-8 weeks after the end of the promotion.
If you’re able to fulfill the $10,000 spending requirement, you’ll come out ahead even when considering the 2.5% fee for using Plastiq.
JetBlue’s TrueBlue points are worth ~1.46cpp. If you spend exactly $10,000 using Plastiq, the bonus means you’ll earn 3 points per dollar, so ~4.38cpp of value.
The JetBlue business card also earns a 10% rebate when redeeming points for award flights, making the return closer to ~4.78cpp. If you also own the JetBlue Plus card, you’ll get an additional 10% rebate which makes the return more like ~5.18%. That means that even when accounting for the 2.5% Plastiq fee, you’ll still be getting more than 2.25% of value.
h/t reader Tim