The end of an era: Spirit Airlines ceases operations

1️⃣ The end of an era: Spirit Airlines ceases operations

What many saw as a real possibility of happening finally did. Yesterday, Saturday, May 2, Spirit Airlines announced the immediate and complete cessation of its operations. Although many believed it would be rescued or assisted in some way, in the end, a $500 million financial rescue with the US government failed to materialize.

The unstoppable rise in fuel prices due to the conflict in Iran, added to other challenges they had been carrying for years, were the perfect storm for this result. 

Unlike a traditional Chapter 11 where the airline continues flying, Spirit began an orderly shutdown (wind-down): all flights have been canceled and customer service has completely ceased operating. The end of a 34-year history.

Something we find curious is that Bilt added Spirit as a transfer partner a couple of months ago… 😳 We hope nobody transferred their points to the airline or, at least, that they used them before the shutdown. 

💳 The point of this news: Spirit mentioned that it will automatically process refunds for any flights purchased directly through them with a credit or debit card. Those who booked through travel agencies should contact their agent to request a refund. Compensation for those who booked using other methods such as vouchers, credits, or Free Spirit points will be determined at a later date through the bankruptcy process. 

✈️ Goodbye, Spirit. We will never forget the onboard fights, the hysterical passengers at the boarding gate refusing to pay for their carry-on bags and, of course, the thinnest, non-reclining seats in the air.

2️⃣ New mega welcome offer: 150,000 flexible points (or $1,500)

The premium travel card from one of our favorite ecosystems has just launched an elevated bonus of 150,000 flexible points (!!) upon spending $6,000 during the first 3 months from account opening.

Yes, it is a premium card with an annual fee of $795, although the benefits alone exceed $1,800 in value every year. Between the bonus and the benefits themselves that the card has, it can be very well worth it. Personally, we are considering changing the business version to this one to take advantage of this mega bonus. 

Some of the benefits that can justify the annual fee include:

• $300 travel credit every year (the most flexible in the industry).

• $500 credit for hotels within The Edit (luxury hotels within the bank's travel portal), split into two $250 credits each year.

• $250 credit (one-time, until 12/31/26) on prepaid hotels within the bank’s travel portal for certain brands like IHG, Montage, Virgin Hotels, and more.

• $300 credit for "dining" ($150 per semester).

• $288 in Apple TV/Apple Music.

• $300 in StubHub credits.

• $120 in credits for Lyft.

• Priority Pass Membership + access to Chase Sapphire Lounge Networks.

• And much more.

These benefits alone exceed $1,800 in value every year, and if we add the 2026 hotel credit and the elevated welcome bonus of 150,000 points (which equals $1,500 in cash and considerably more for travel), it is, as they say, a no-brainer. 

This is not the only offer worth considering right now. Here we share the best cards to consider now, we are sure one of them might fit you. The 150,000 offer is the first on the list.

💳 The point of this news: With a 150,000-point bonus and over $1,800 in tangible benefits, this card can be a pretty obvious choice for frequent travelers. Although the $795 fee is substantial, the travel and lifestyle credits "pay" the annual fee twice over without even using it. If you have the organic spend for the bonus, it is one of the best plays right now. 

3️⃣ Wells Fargo continues to expand: Cathay Pacific is its new transfer partner

It is clear that Wells Fargo is not resting on its laurels. A couple of weeks ago we saw that they added Wyndham as a transfer partner at nothing more and nothing less than a 1:2 rate (which is phenomenal), and this week the bank announced that Cathay Pacific (Asia Miles) is its new transfer partner at a 1:1 rate.  

This is its first partner 100% focused on the Asian market, making the bank's cards, especially the Autograph and Autograph Journey, much more powerful tools for international travel.

With this news, we can transfer our Wells Fargo points to Asia Miles to book not only Cathay Pacific's legendary Business Class, for example, but other airlines we might be more familiar with, such as American Airlines and British Airways, sometimes at better prices than booking with them directly. 

💳 The point of this news: Wells Fargo is betting aggressively on "catching up" with Chase, Amex, and the rest of the ecosystems. We can say that this ecosystem is looking more and more interesting to us, and it shouldn't be off your radar. In addition to expanding aggressively with new transfer partners, they have some of the cards with the best multipliers on the market that are definitely worth considering. 

4️⃣ Flying Blue Promo Rewards: Europe at very competitive prices

As on the first day of every month, Air France and KLM launched their Promo Rewards, and May arrived with good news for those who want to stretch their points in Economy (or those departing from Colombia or Argentina). 

This month we are seeing a 25% discount on routes from New York, Austin, Las Vegas, San Diego, Seattle, Portland, Chicago, Boston, and Miami to Europe for only 18,750 miles one-way in Economy. 

But the juiciest part is in the south: Bogota, Cartagena, and Buenos Aires have business class availability to Europe for 63,750 miles. Of course, you have to pay taxes, which remain the "small catch" with Flying Blue.

This promotion is valid for the month of May for travel until October 31, 2026, perfect for summer vacations and even September and October, which are our favorite months to travel around Europe. You have all the details here.

💳 The point of this news: If you have points in Bilt, Amex, Chase, Capital One, Citi, or Wells Fargo (yes, all of them), you can transfer them to Flying Blue and take advantage of these prices. Normally these seats fly fast, so if you see availability from your city, book now and ask questions later.

5️⃣ May 2026 Transfer Bonuses

• American Express → 20% to Hilton Honors (until 5/30/26)

• Chase → 65% to Marriott Bonvoy (until 5/15/26)

• Chase → 20% to Air France/KLM Flying Blue (until 5/27/26)

• Capital One → 20% to Qantas Frequent Flyer (until 5/31/26)

• Citi → 25% to Leading Hotels of the World (until 5/16/26)

💳 The point of this news: More bonuses might become active as the month progresses. If you're interested in taking advantage of any of those currently active, remember that transfer bonuses are one of the best opportunities to maximize our points.

🎁 Extra: Rakuten Big Give Week (15% cashback)

Tomorrow begins Rakuten's Big Give Week, where dozens of stores will be offering 15% cashback. 

Remember that if you have your account set up to earn Amex Membership Rewards points or Bilt points, this translates into 15 points per dollar spent. If you do not have an account with Rakuten, you can get $50 (or 5,000 points) upon making your first purchase of $50 or more (basically free) within the first 90 days using our link. 

💳 The point of this news: If you have a major purchase to make these days, doing it through Rakuten can make a giant difference in your point accumulation or cashback strategy.