JetBlue is a top-rated U.S. airline and its co-branded credit card from Barclays, the JetBlue Plus Card, offers many benefits useful for JetBlue flyers. But are all those benefits worth the $99 annual fee?

Here’s how to decide if you can come out ahead with this card.

Valuable perks of the JetBlue Plus Card

Generous welcome offer

Earn 50,000 bonus points after spending $1,000 on purchases and paying the annual fee in full, both within the first 90 days. NerdWallet estimates JetBlue points are worth 1.5 cents each, making this welcome bonus worth roughly $600.

That’s a valuable welcome offer — especially when you consider that other cards make you spend $3,000 or more in the first three months to earn a welcome bonus.

Bonus points for restaurants, grocery stores and JetBlue flights

The JetBlue Plus Card earns 6x points on JetBlue purchases, 2x points at restaurants and grocery stores, then 1x points on all other purchases.

At a 1.5 cents-per-point value, that’s like getting 9% back on JetBlue purchases, a 3% return on groceries and restaurants and 1.5% on all other purchases. These are competitive earning rates compared to other airline credit cards.

Modest annual fee and no foreign transaction fees

The JetBlue Plus Card has a $99 annual fee. It comes with no foreign transaction fees, making this a great option to use when traveling internationally.

Each year you renew your credit card, you'll receive 5,000 JetBlue points as an anniversary bonus. Those 5,000 JetBlue points are worth about $75, reducing your effective annual fee to only $24. What's more, this bonus is a great ongoing benefit.

A chance to become an elite TrueBlue member

One especially valuable perk of the JetBlue Plus Card: You can actually earn toward elite status in the TrueBlue program from spending alone. Charge $50,000 or more in a calendar year in qualifying purchases and you earn JetBlue Mosaic 1 status (the lowest of the program's four tiers).

Mosaic 1 members get their first two checked bags for free, early boarding, access to extra-legroom seats if available and free same-day changes to flight reservations.

As you reach each JetBlue Mosaic status tier (including Mosaic 1), you also get to choose one of the program's Perks You Pick options, which include 15,000 JetBlue points, free travel for pets on an eligible flight or a $99 statement credit to your JetBlue card, among other options.

Various discounts

The JetBlue Plus Card has a few benefits that could not only save you money, but also save points for award flights. These benefits can provide plenty of value, especially if you fly JetBlue frequently.

Baggage. As airlines increase checked baggage fees, the JetBlue Plus Card offers your first checked bag free for you and up to three companions. The companions need to be on the same reservation as the cardholder in order to receive the free checked bag benefit.

In-flight dining. Considering purchasing food or a drink during your flight? Your JetBlue Plus Card gives you an in-flight savings of 50% when you pay with your card.

Vacations. JetBlue Vacations packages can be a great way to purchase hotel and airfare at the same time, potentially saving you money. The JetBlue Plus Card offers an annual $100 statement credit when you purchase a JetBlue Vacation package of $100 or more.

Points rebates. As a JetBlue Plus Card customer, every time you redeem your TrueBlue points for a JetBlue-operated flight you get 10% of those points rebated to you. There is no maximum amount of points you can receive back.

Additionally, the JetBlue Plus Card is a World Elite Mastercard, which comes with a range of perks like Lyft credits, cell phone protection, Fandango credits and other benefits.

The bottom line

For the JetBlue customer who can put its benefits to good use, the JetBlue Plus Card is absolutely worth it. Because anniversary bonus points reduce this card’s effective cost to just $24, it’s a very good value.

Even if you fly JetBlue just once or twice per year, the checked bag benefit can offset the card’s annual fee, as JetBlue charges up to $35 for one checked bag. Add in all the other benefits this card offers and there's a high likelihood you'll come out ahead.