And now it gets interesting…
It was only a few weeks ago that Southwest was offering 60,000 points to sign up for its Chase credit card. That was a great deal, particularly at the start of a new year. And now they’re dwarfing it.
Companion Passes for Everyone
One of the best elite perks in the industry is Southwest’s Companion Pass (CP), which allows you to fly a friend with you for free. You can get their seat at the time of booking, so there’s no worry. Traditionally, you have to earn 110,000 Southwest Rapid Rewards points to get the pass, so it can be tough if you don’t spend a lot on Southwest or the card. The sign-up bonus counted toward the minimum, so the first year was easier.
For the next month, however, everyone who gets a new Southwest credit card will get a Companion Pass, good through the end of the year.* That’s (almost) a full year of BOGO (buy-one-get-one) on the airline. Pretty powerful deal. Here’s what to keep in mind:
- You need to spend $4,000 in the first three months as a cardholder to earn the Pass. It’s good through the end of the year. Doing the math, if you got the card tomorrow and spent $4,000 on day 1, you’d have 10-11 months of free companion travel.
- It’s a fantastic deal for Southwest really frequent flyers. But “all you can eat” may not be as good for others. Here’s why: A Southwest point is worth roughly 1.5 cents. This deal gives you 30,000 points, while the previous one gave you 60,000. That’s a difference of 30,000 points, or $450, which can get you a lot of Southwest flights. If you only fly them 2-3 times per year, you may be better off waiting for the next big points bonus.
- Chase’s 5/24 rule applies to this card. If you’ve received five new personal cards in the past two years from any bank, Chase won’t approve you for this one. There will be a lot of people ineligible for the card.
- You can get the bonus from one of a few different Southwest credit cards. Use the link in the second paragraph to get an idea of the differences.
If you’re going to use the Companion Pass, this is one of the best deals that I’ve ever seen to sign up for a credit card. If you’re not, don’t waste an application on it. Chase credit card bonuses are valuable. Don’t use a chit toward 5/24 if you don’t have to.
*While this promotion is pretty widespread now, I first saw it at View From The Wing. If you first saw it here and are getting the card, please use his link to apply for it.
Want to subscribe? Just enter your email in the box above (and to the right) and click on the confirmation. GMailers, check your Social or Promotions boxes!
Follow me on Twitter @FFMiles101 or share with the Facebook button below.
And finally, you can apply for credit cards through the Credit Cards for Charity link above. All card proceeds are donated to charity, so please do well by doing good!