Credit Card Offer of the Month: Southwest Companion Pass
In the world of frequent flyer programs, there are few things as valuable as the Southwest Airlines Companion Pass. This pass allows you to add a designated companion to any Southwest flight you have booked on, including award tickets. Now is the time to get your Companion Pass, because if you get it in early 2022, it will be valid until the end of 2023.
Basics of the Companion Pass
To receive the Southwest Airlines Companion Pass, you must earn 125,000 points or complete 100 one-way flights in a single calendar year. You can earn these points through any combination of credit card bonus for a new account, credit card spending, earning points through travel and shopping partners and traveling on Southwest.
By far the fastest and easiest way for most people to earn the Companion Pass is to use the new account bonuses offered by Chase’s Southwest Rapid Rewards credit cards.
How to use credit cards to earn the Companion Pass
To earn the Southwest Airlines Companion Pass with credit cards, you must earn 125,000 points on one or more Southwest Rapid Rewards credit cards in a calendar year. Note that you only have to earn these points, not redeem them. You can still redeem these points for award flights.
When you open an account with one of Southwest Airlines’ many consumer and small business credit cards from Chase, you have the opportunity to earn bonus points that count towards the Companion Pass. And if you open both a business card and a personal card, you can receive enough points to earn the Companion Pass.
Get started with the Southwest Rapid RewardsÂ® Performance Business Credit Card, which offers new applicants 80,000 points after spending $ 5,000 on new purchases within three months of opening the account. The Rapid RewardsÂ® Performance Business card has an annual fee of $ 199 and offers a range of benefits, including free in-flight Wi-Fi for one year.
Supplement this card with the Southwest Rapid RewardsÂ® Plus credit card, which offers new applicants 50,000 bonus points after spending $ 2,000 on new purchases within three months. You can also earn an additional 50,000 points on this card after using it to spend a total of $ 12,000 within 12 months of opening your account. This card has an annual fee of $ 69.
By the time you’ve spent a total of $ 6,000 to earn a total of 120,000 bonus points with these two cards, you will have earned more than the 125,000 points needed to receive the Companion Pass. Yes, you’ll spend $ 268 in annual fees, but the 126,000 Rapid Reward points you earn can be redeemed for at least $ 1,700 in flights, and your Companion Pass can more than double that value. Use the Rapid RewardsÂ® Plus credit card to spend a total of $ 12,000 in one year, and you’ll get a whopping 186,000 points, worth about $ 2,600 in airline tickets.
The trick to getting the most out of your Companion Pass
When you earn the Companion Pass, it is valid until the end of the following calendar year. So, to maximize the value you receive, make sure you earn all points in calendar year 2022. This means you not want to earn the bonuses from your new account before the end of 2021. If you earn them at the end of 2021, then it’s valid until the end of 2022. But if you earn them early 2022, then it’s valid until the end 2023 – almost two full years.
These new account bonuses are received when you reach the spend threshold and your statement cycle ends. To avoid receiving bonus points before the end of the month, set your payment due date for the 26th of the month. This way your statement cycle will end 25 days earlier on the 1st of each month.
This means that the points and any bonuses you earn in December will be added to your account as of January 1. So if you get the card before December, just change your expiration date to 26th and don’t use it until December 1st.
If you can earn the bonuses of both credit cards with your December spending, you will receive the Companion Pass in early January 2022, and it will be valid for almost 24 months.
At the end of the line
By understanding how the Southwest Airlines Companion Pass works and how to easily earn it with a credit card, you can be sure to get two-for-one deals on all your Southwest flights through the end of 2023.
More money :
The best credit cards
Best Balance Transfer Credit Cards
How to Build Credit Quickly and Get a Good Credit Score