Thursday, February 10, 2022

Quick Post: Easy way to get Southwest Companion Pass for just ONE year

Chase and Southwest have come up with a new deal to get the Southwest Companion Pass. Read on for more details ...

You may have (or may not have!) heard that Soutwest/Chase has created a way to get the Companion Pass for one year (through 2/28/23) by applying for just one (personal, not biz) credit card. If you are approved, you have to spend $5k to earn the CP and 30k SW miles. I still think the route of applying for 2 cards (personal and biz) to get the CP for nearly 2 full years (through 12/31/23) is the better option, but this one could be interesting if: a) you don't want to (or don't think you can get approved for) a biz credit card; and/or b) if you assume they will offer this each year (who knows??), and especially if you are married ("2-player game"), then you could go back & forth between you and your spouse applying for this card every-other-year.

This "b" option would be pretty nice, if we knew they would always offer this option. But we don't. Another option would be to apply for this card now ... and if the same offer doesn't pop up next year, then your spouse (or you - if your spouse gets the card this year) could apply for 2 cards (personal and biz) next year around this time.

Here's my referral link for this deal, if you're interested. Feel free to ask me any questions.

UPDATE INFO (based upon some questions) ...

Some people have asked about the current Southwest credit card situation (for the Companion Pass). In a nutshell, your options are to either:  a) get the Companion Pass (CP) for one year via getting the Personal credit card that comes with 30k miles (read more above); or b) get the Companion Pass for two years (the rest of this year and all of 2023) via getting the Personal card AND the Business card. Unfortunately, the best Personal offer right now is the 30k offer (that comes with the CP for one year - and requires $5k spend), and the best business offer is 80k requiring $5k spend (don't apply for the 60k Business card). That will only get you to 120k SW miles (both sign-up bonuses + $5k spending on each card). So you will actually need to do another $5k spending on either (or a combination of both) card(s) to get you up to 125k miles to qualify for the 2-year Companion Pass. The good news is that if you start with (and complete) the $5k spending on the Personal card, as soon as your first Chase credit card statement cuts, you should earn the CP for at least the first year. Then once you get up to 125k miles, you should see in your SW account that your CP now has an expiration of 12/31/23 (instead of just 2/28/23). Here is MY LINK to sign up for any of the SW cards (thanks for using it!). (Note: you should be able to apply for both cards on the same day, as long as you are underneath Chase's 5/24 count. That said, just know that some people have trouble getting approved for the Business card. Maybe google "tips for applying for business credit cards" if you feel like you need more info. But at least if you only get approved for the Personal SW credit card, at least you'll have the CP for ~12 months.

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