8/2/2018
A few years ago, Elizabeth and I figured out an incredible thing with Southwest Airlines.
We’ve been spending the last couple of years flying on Southwest for buy one get one free, using their Companion Pass!
Here’s how it works: When you get 110,000 qualifying Southwest points in a calendar year, you get a Companion Pass which allows a specific person you choose (you can change the person three times each calendar year) to fly with you as many times as they want for free (just the cost of taxes) for the rest of the qualifying year and the entire following year (strategically you want to get it as early into the year as possible, but Chase knows this so the best bonuses are usually only available a few months into the new year).
Elizabeth and I qualified by getting 2 credit cards with large bonus point promotions (which are available from time to time) and a similar deal is available now. Things change regularly, so don’t just take our word for it, but make sure you put in the time to understand how it all works as there’s a huge benefit if you succeed! It’s possible (but not guaranteed) to get both a Southwest personal and a Southwest business card at once, but you will most likely not be approved if you’ve applied for 4+ cards (from any company) in the last 24 months.
IMPORTANT! If you currently have any Southwest personal card, you will need to close it! You will not qualify for the bonus is you have any other Southwest personal credit cards. If you have received a Southwest credit card bonus from a personal southwest card in the last 24 months, you will also not qualify! (Previously you could gain multiple personal bonuses at once with different Southwest cards. This is no longer possible!) Don’t own a business? It may still be possible for you; read this for guidance. Be sure to read the rules carefully to make sure you qualify!
Plan your strategy to get to 110,000 rapid reward points through Southwest credit card bonuses, Southwest credit card purchases, and Southwest Airlines ticket purchases (point transfers don’t work). Here’s an example…
Southwest Premier Credit Card……….60,000 bonus after spending $3,000 in 3 months (these change regularly so check what’s current)
Southwest Personal Credit Card…………….40,000 bonus after spending $1,000 in 3 months (these change regularly so check what’s current)
(I recommend the new Rapid Rewards Priority Card, but be sure to explore the different options.)
Points from 4k spending…………………..4,000
TOTAL………………………………………..104,000 points
That means you’ll only need to earn 6,000 more points to qualify for the companion pass. You’ll also have an annual fee of $99 for the business card, $149 (for the Priority card, but there’s a $75 yearly refund for Southwest charges, $99 for the premier card, and $69 for the plus card. However, Southwest points are valued at about 60 to 1 for tickets, so it means you’ll be able to get around $1600 worth of tickets with your 100,000 bonus points.
Some things that make this deal even better…
- You and your Companion each get up to 2 checked bags for free.
- There are no change or cancellation fees for Southwest flights. You’ll get credit for cancellations that can be used for the next year. If you used points they’ll just redeposit into your account.
- Your companion can even fly with you for free when you use points to buy your ticket!
So, here’s how to proceed…. (The same person needs to be primary on each card!)
1. If you don’t already have a Southwest Rapid Rewards frequent flyer number, register at https://www.southwest.com/account/enroll/enroll-member Be sure to write down your new number, as you’ll need it for the next two steps.
2. If you already have a Southwest Personal Credit Card(s), call and close it/them. Make sure you move your credit line to another Chase card if you have one! If it’s the only Chase card you have, see if they’ll convert it to another product (you’ll miss out on any bonuses, but it might still be worth it). Wait a sufficient period to avoid suspicion.
3. Look at the current bonuses available for Chase cards because they change regularly (remember, you’ll need to earn 110,000 rapid rewards points within a calendar year and then you will get the companion pass for the rest of that year and the entire next year).
Personal Priority card: https://creditcards.chase.com/a1/southwest/65KDual?CELL=6W8G (I don’t earn anything for the referral)
Personal Premier card: https://www.referyourchasecard.com/224/0EYK0SR2U5 (I’ll get 10,000 points for referring you.)
Personal Plus card: https://www.referyourchasecard.com/223/9WQ6J1WNSC (I’ll get 10,000 points for referring you.)
Business card: https://creditcards.chase.com/a1/southwest/60kPremierBizAEP?CELL=6W8G
4. Apply for one of the Chase Southwest Personal Credit Cards with the best bonus. (Remember, you only qualify if you don’t already have another Southwest Personal Card and have not received a bonus on any Southwest personal card within the last 24 months.)
5. The same person should apply for the Chase Southwest Business Credit Card (applying the same day should result in a total of 1 credit check for both applications). (You won’t get your bonus if you already have a Chase Southwest Business Credit Card or have gotten a bonus from a Southwest Business Credit Card in the last 24 months).
6. If you don’t receive an answer immediately, you may call and talk with someone about your applications. If they ask, are you doing it for the bonuses, the answer is no. That you want to focus your spending on getting Southwest Miles and need two cards to separate personal and work/other spending.
7. Meet the spending requirements to get your bonuses.
8. Spend whatever else is needed across both cards to reach the 110,000 rapid rewards point goal and get your Southwest companion pass.
9. If you have a significant other, in two years, when your companion pass expires, they can do the same. You can also change the person on your companion pass up to 3 times a calendar year.
10. Keep and use your cards a couple of years at least. People who get cards just for their bonuses, don’t use them after the bonus, and then cancel can get banned.
11. In a few months, if you’re still under 4 cards in 24 months, consider getting the Chase Sapphire Reserve. In addition to a great bonus (which you can’t use to earn the companion pass, but you can’t transfer to Southwest to buy tickets), you get airport club access from Priority Pass and primary car rental insurance (they’ll cover damage without using your personal insurance–you’ll still need liability coverage). It’s $450 annual fee is offset with $300 in travel credits (with a generous definition of travel). Again, do your own research as things change over time.
I know it’s a lot of information, so if you have any questions or something doesn’t make sense email or give me a call at 434.962.4927.
(Elizabeth and I have been using CreditKarma.com to monitor our credit, it’s super helpful.)