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If you need to borrow money, consider the rates available from Best Egg. They will not only lend you money, but you can earn up to 50,000 JetBlue points when you borrow from the Best Egg JetBlue 50000 points promotion.
Borrowing Money? Yuck!
I hate borrowing money… except when floating purchases or MS on my credit cards or buying a new rental property. I’ve been on a path towards paying off my debt the last few years. Paid off my Tahoe, then my student loans, and then, most recently, my first rental property.
However, sometimes you just really need the money. Life happens. Just, for the love of God, please don’t borrow money to “plan a family vacation” as the email from Best Egg and JetBlue suggested. We can show you how to significantly reduce your travel costs using miles and points. DO NOT BORROW MONEY TO GO ON VACATION!!!
A personal loan will generally have much lower interest rates than carrying a balance on your credit card. Personal loan rates start as low as 5.99%, depending on your credit, whereas most credit card interest rates are 15%-25%.
If you’re shopping for a personal loan, compare rates with SoFi. They have great rates and will give you $100 if you use my referral link when applying.
Best Egg JetBlue 50000 Points Promotion
If the Best Egg rates are reasonable, and you decide to secure a loan through them, you can earn 1 JetBlue point for every $1 you borrow with this Best Egg JetBlue 50000 points promotion.
Be careful with fees and prepayment penalties, because some lenders charge them. From a quick review of their website, Best Egg charges an origination fee (when they start the loan) of at least 4.99%. If you borrow the max of $50,000, that means you’ll be paying $2,495 in fees just to get the loan. Surely, 50,000 JetBlue miles are not worth $2500!
That’s why a lender like SoFi is a better option because they don’t charge origination fees.
Or, you can apply for a credit card that has a 0% offer if you are able to pay off the loan during the zero-interest rate period.
The Bald Thoughts
Once, again, the old adage is true. Nothing in life is truly free. Yes, you can receive 50,000 JetBlue points if you participate in this promotion. However, those points are not worth the $2500 in origination fees that you’d be paying for the loan. Always consider ALL of the facts when considering taking out a loan, not just the interest rate or the amount.
If it were me, I would not participate in the Best Egg JetBlue 50000 points promotion. Instead, I would find a lender like SoFi that doesn’t charge fees or borrow from my credit card with a 0% balance transfer/cash advance offer.