Southwest has brought back their 50,000 bonus point promo for the Southwest Airlines® Rapid Rewards® Premier Credit Card. That’s worth two Round trip Flight (over $700 in airfare with no limited-capacity seating hoops or $500 in Amazon.com gift cards) after you spend $2,000 in the first 3 months of opening your account. There is a $99 annual fee that is not waived the first year.
2015/2016 Companion Pass
Southwest’s Rapid Rewards Companion Pass allows you to designate one person to fly with you for free (person can be changed 3 times). To qualify, you must earn 110,000 points in a calendar year, and yes credit card points count! If you are careful with when you meet the spending requirement (wait until January), you can earn the status in very early 2015 and then you can use the Companion Pass for the rest of 2015 and all of 2016. The companion pass even works on award tickets!
Besides a lot of spending or flying, the small business version of this card has a 50,000 point bonus. Spend $2,000 on each of these two cards and you’ll qualify for both the 50k bonus and 50k bonus plus the 4k from spending for a total of 104,000 Rapid Rewards points. Spend a little more on the card or take some Southwest flights to make up the last 6,000 points and you’ll have 110,000. Those 110k points will be worth over $1,400 in Wanna Get Away airfare split up into however many flights you want + a free companion pass which can effectively double the value.
An “average” round-trip $357 Wanna Get Away fare would cost about 25,000 points. In reality, the value of the bonus is $714 in Southwest airfare broken up however you like. Any Wanna Get Away fare is eligible, so this bonus is very useful for Southwest fliers. If you take shorter flights or wait for a fare sale, this could easily be worth multiple roundtrip flights. 25,000 points can also be converted to $250 in gift cards to Amazon.com, Wal-mart, and other retailers.
Currently 70 points = $1 worth of Wanna Get Away airfare, which means you get 1.43 cents of value per point. Southwest is still offering two free checked bags, which can be a significant roundtrip savings. Here are the rest of the details:
- Get 50,000 points after you spend $2,000 on purchases in the first 3 months your account is open.
- Points Don’t Expire, No Blackout Dates
- 6,000 points after your Cardmember Anniversary.
- 2 pts/$1 spent on Southwest Airlines® purchases
- 2 pts/$1 spent on Rapid Rewards Hotel and Car Rental Partner purchases
- 1 pt/$1 spent on all other purchases
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