Why now is the best time to apply for a Southwest Airlines credit card

Editor’s Note: This is a recurring post, regularly updated with new information and offers.

One of the best deals in travel is Southwest Companion Card. For the value it brings, you will be surprised how easy it is to make money.

No other travel perks let you create your own buy-one-get-one-free airline ticket vouchers that can last almost two years. This pass lets you bring a partner, child, parent, or friend with you on all of your Southwest flights — for just the cost of the taxes and fees on their ticket.

Whether you book your Southwest flight in dollars or Southwest Quick Bonus PointsYour designated companion can come along Southwest Companion Card. That’s an amazing benefit no matter how you trim it—but the deal gets even better when you time everything carefully. And while it’s true that Earning a Companion Pass will be a bit harder in 2023you can make up for that while also earning a Companion Card using the absolutely simplest method possible.

I’ll show you how to get the Southwest Companion Pass in almost 24 months (if you’re in a hurry).

The perfect timing for the Southwest Companion Card

Starting in 2023, winning the Southwest Companion Pass will require earning 135,000 qualifying points in a calendar year (instead of the current 125,000).

After you earn the Companion Card, it is valid for the remainder of the year you earn it plus the entire next calendar year. Therefore, if you earn the Companion Pass in November or December 2022, it will be valid until the end of 2022 and all of 2023. However, if you earn the Companion Pass in January 2023, then it will be in effect until the end of 2024 – almost two years of validity.

That means trying to earn a Companion Pass at the beginning of the calendar year is optimal.

Since the alternative to earning a Companion Pass requires taking 100 flights with Southwest, earning points is the easiest way for most people. This is How Southwest determines what types of point activities will be counted towards earning the Companion Card:

The following do not count as eligible activities:

• Buy points.
• Points are transferred between members.
• Points redeemed from other loyalty programs or Opinion surveys are valuable.
• New member rewards for joining Quick Rewards.
• Flight bonus points.
• Partner rewards are different from Southwest Airlines credit cards.

Southwest also mentions that the Companion Card is earned from points deposited into your account in the same calendar year, so you have to start from zero on January 1 of each year. So what does all of this mean? Southwest Airlines credit card sign-up bonuses count towards winning a Companion Card and (ideally) you’d like them to hit your account in January to earn a valuable Companion Card treatment for almost 24 months.

This means opening a Southwest Airlines credit card at the end of the year and then fulfill the minimum spending requirement early January may be the easiest way to get a buy one get one free pass with Southwest Airlines.

Related: How to use the Southwest Companion Card

Now is the perfect time to start planning your Southwest Companion Pass. With advanced bonus offers on Southwest credit card runs through December 5, 2022, you should apply for one — or even two — Southwest cards to receive them in 2023 and 2024.

The Southwest Rapid Rewards Plus Credit Card ($69 annual fee), Southwest’s Premier Rapid Rewards Credit Card ($99 annual fee) and Southwest Express Rewards Priority Credit Card ($149 annual fee) all offer the same incremental bonus now. New subscribers can earn 75,000 bonus points after spending $3,000 on purchases within the first three months of account opening. Offer ends on December 5, 2022.

Related: 13 Lessons From 13 Years Going Through Southwest Companion Passes

Keep in mind that the Companion Card claims to earn 135,000 points in the same calendar year starting in 2023, so this bonus will get you 135,000 points. And there are ways to earn the rest of your points, like spending with an additional credit card, actually flying with Southwest qualifying fares, partner activity — even opening a Southwest business credit card. parallel to your Southwest personal card.

Additionally, two Southwest business cards are now offering their own cool rewards:

Earning bonuses on personal and business credit cards from Southwest Airlines will be enough to earn the Companion Card without any other qualifying activity.

Strategy to earn Southwest Companion card in 2023-2024

Unfortunately, Chase does not allow you to open more than one Southwest personal credit card at a time. But those restrictions don’t apply to the business versions.

The easiest way to achieve the Companion Card is to earn both small business card rewards and personal card rewards – no additional spending or activities required.

For example, the Southwest Rapid Rewards Premium Business Credit Card offers some Southwest perks and comes with 60,000 bonus points after spending $3,000 on purchases within the first three months of account opening. If you open this card with any Southwest personal card, you can earn a Companion Card by:

• Spend $3,000 on Southwest Performance Company (60,000 points).
• Spend $3,000 on a Southwest personal card (75,000 points).

Just $6,000 spent will earn you 135,000 points (worth over $2,000, according to TPG’s valuation) and the Southwest Companion Card. Also, you don’t need to “top up” your points to earn a Companion Card. You still keep your points in your account and can use them for reward flights – and your travel companions with you.

Related: How to redeem points with Southwest Quick Rewards program

Again, transfer the points earned on cards like Chase Sapphire Reserve or Chase Sapphire Priority Card to your Southwest Quick Rewards account does not count towards the Companion Card. However, once you have a Companion Card, you can transfer points to Instant Rewards from Chase Ultimate Rewards to book Southwest award tickets and have a designated travel companion fly with you virtually for free.

Because you want all of these points to show up in your Southwest account by early 2023, you don’t complete your spending request on one of these credit cards by January 1, 2023. , bonus points can be deposited into your account in 2022 – ruin your plans for two years Companion Card.

Who is eligible for the new Southwest credit card?

Individual Southwest cards are offering their best bonuses ever. If you’re curious about your eligibility, here’s what Chase has to say:

“Product is not available to (i) Existing Cardholders of any Southwest Express Rewards^® Credit Card, or (ii) Previous Cardholder of any Southwest Rapid Rewards Credit Card who has received a New Cardholder award within the past 24 months. This does not apply to Cardholders of Southwest Rapid Rewards Business Card and Employee Credit Card products. “

This means you can only get the new cardholder bonus on a single Southwest personal credit card within a 24-month cycle, so make sure you’re getting the best bonus possible. Please also note that, if you currently have any Southwest personal credit cards open, you will not be eligible for these offers.

The same restriction does not apply to the Southwest Rapid Rewards Premier Business Credit Card or the Southwest Rapid Rewards Performance Business Credit Card. The limitations of business cards state:

“This New Card Bonus Offer does not apply to (i) Existing Members of this business credit card or (ii) previous Members of this business credit card who have received New Card rewards for this business credit card within the last 24 months. “

This means you can earn a small business credit card and a personal credit card from Southwest in the same calendar year for activating the Companion Card. That’s how many of us have earned our passes in the past.

Related: Who qualifies for a business credit card?

In addition, you can get two small business card rewards; You cannot get two individual cards.

And don’t forget about Chase’s 5/24 Rule. If you’ve opened five or more new personal credit cards across all card issuers in the past 24 months, you’ll likely be declined if you apply for a Southwest card.

Read our article on How to use the Southwest Companion Pass for everything you should know about one of the best deals in travel.

Register here: Southwest Rapid Rewards Plus Credit Card
Register here: Southwest Express Rewards Premium Credit Card
Register here: Southwest Express Rewards Priority Credit Card
Register here: Southwest Fast Rewards Performance Business Credit Card
Register here: Southwest Express Rewards Top Business Credit Card

Additional reporting by Chris Dong, Joseph Hostetler and Ryan Smith.