AMEX Membership Rewards is now offering a 25% bonus when you transfer to JetBlue points. The normal transfer ratio is 250:200, and with this bonus it becomes 250:250. JetBlue points are similar to Southwest points in that their value is basically tied to the cash price. You’ll generally get about 1.25 cents per point when redeeming for flights. If you have a JetBlue credit card, you’ll get 10% points back, which makes this a bit more valuable.