In short, it’s pretty much the same freaking thing.
Took me way too long to actually figure this out, but it’s almost exactly the same thing.
Southwest’s Visa CC charges $69 yearly, but gives you 3000 of their made up points, which equates to $50. JetBlue’s AmEx CC chares you $40, but there are no bonuses.
With Southwest, you’re getting at least 6 points per mile, and can get more if you pay more for your flight. JetBlue? The same deal. 2 extra points are rewarded on both CC’s per dollar used. (This is the part that took most of my time.)
In terms of redemption, Southwest is a bit more direct, in that if you use the Wanna Get Away rates (the cheapest), it equates to about 60 points per dollar. With JetBlue, redemption starts at 10,000 points for round trip… which I really don’t know what to make of it until I spend any more time with this.
Anyone else want to carry this to completion? Someone could find out how many flights would be required to make the CC a good deal. Blah.
EDIT: Oh right. Expirations. Looks like JetBlue’s points expire within a year without card usage, but SouthWest’s points are okay for two years. This is… not worth my time.