Update March 2025. Southwest has made some big changes to how they run, and it’s not entire clear how it will affect their credit cards. The “Wanna Get Away” fare is going away later this year, to be replaced by “Basic”. I will try to update things as well as I can.
For now, Southwest still offers their unique Companion Pass, which lets you fly with a companion for free when you book both paid AND award flights on Southwest. Once you qualify by earning 135,000 points in a calendar year, you earn the Companion Pass for both the rest of the year in which you earn it AND all of the next year (ex. rest of 2025 + all of 2026). Importantly, all points earned from credit cards count toward the requirement, and each card also offers a 10,000 point boost toward the Companion Pass requirement.
New limited-time offer: Right now if you apply by 3/31/25, you have an opportunity to earn a “Promo” Companion Pass much more easily with a reasonable spending hurdle. See details below. This promotional Companion Pass doesn’t last through the end of 2026, but it does last until 2/28/26.
Southwest Rapid Rewards® Plus Credit Card
- Limited-time offer: Earn a Companion Pass(R) good through 2/28/26 plus 30,000 points after you spend $4,000 on purchases in the first 3 months from account opening.
- Receive 3,000 anniversary points each year.
- 10,000 Companion Pass® qualifying points boost each year.
- 2X points on Southwest(R) purchases.
- 2X points on local transit and commuting, including rideshare.
- 2X points on internet, cable, and phone services, and select streaming.
- 1 point per $1 spent on all other purchases.
- 2 EarlyBird Check-In(R) each year
- 25% back on inflight purchases
- All points earned count towards Companion Pass(R).
- $69 annual fee.
Southwest Rapid Rewards® Priority Credit Card
- Limited-time offer: Earn a Companion Pass(R) good through 2/28/26 plus 30,000 points after you spend $4,000 on purchases in the first 3 months from account opening.
- Receive 7,500 anniversary points and a $75 Southwest® travel credit each year.
- 10,000 Companion Pass® qualifying points boost each year.
- 3X points on Southwest purchases.
- 2X points on local transit and commuting, including rideshare.
- 2X points on internet, cable, and phone services, and select streaming.
- 1 point per $1 spent on all other purchases.
- 2 EarlyBird Check-In(R) each year
- 25% back on inflight purchases
- 1,500 TQPs toward A-List status for every $5,000 spent in purchases annually (no limit on TQP earned).
- 4 Upgraded Boardings per year when available.
- $149 annual fee.
The following are business credit cards:
Southwest Rapid Rewards® Performance Business Credit Card
- 80,000 bonus points after spending $5,000 on purchases in the first 3 months from account opening.
- 9,000 bonus points after each Cardmember anniversary.
- NEW: 4X points on Southwest(R) purchases.
- 3X points on Rapid Rewards® hotel and car rental partners.
- NEW: 2X points on rideshare.
- 2X points on social media and search engine advertising, Internet, cable and phone services and 1 point per $1 spent on all other purchases.
- 4 Upgraded Boardings per year when available.
- Inflight WiFi Credits (up to 365 x $8 credits per year).
- Up to $120 Global Entry, TSA PreCheck® or NEXUS fee credit. Receive a statement credit of up to $120 every 4 years as reimbursement for the application fee for Global Entry, TSA PreCheck® or NEXUS.
- $199 annual fee.
Southwest Rapid Rewards® Premier Business Credit Card
- 60,000 bonus points after spending $3,000 on purchases in the first 3 months from account opening.
- 6,000 bonus points after each Cardmember anniversary.
- 3X points on Southwest(R) purchases.
- 2X points and Rapid Rewards® hotel and car rental partners.
- 2X points on local transit and commuting, including rideshare.
- 1 point per $1 spent on all other purchases.
- 2 EarlyBird Check-In(R) each year
- $99 annual fee.
Value of Rapid Rewards points. Redeeming Southwest points for flights varies in a narrow range, but a very reasonable approximation from my experience is 1.3 cents in Wanna Get Away airfare in per point. That works out to $650+ in Wanna Get Away airfare for every 50,000 points or $1,300+ in Wanna Get Away airfare from 100,000 points (you are still liable for taxes and fees from $5.60 one-way). This valuation may change when they switch to “Basic”.
Now, if you manage to qualify for the the Companion Pass on every trip that you book with those points, that doubles the potential value of each award redemption. In other words, 125,000 Rapid Rewards, would usually get you $1,850 in Wanna Get Away airfare, but with the Companion Pass you’d get an extra companion ticket for every flight booked.
There may be other options like gift cards, but the redemption value is less than half the value you could get from redeeming for flights.
Southwest points expiration policy, per Southwest.com:
Do the points I earn expire?
No, your Rapid Rewards points do not expire. However, if you choose to close your account, the points in your account will be terminated.
Card restrictions. All of these Southwest credit cards are subject to “5/24” restrictions, which means that your application will be automatically denied if you have opened 5 or more credit cards in the last 24 months (check your credit reports). Our household strategy is to have one person only apply for Chase 5/24 cards, and the other person applies for everything else. There is also this language on the consumer card:
This product is available to you if you do not have a current Southwest Rapid Rewards® Credit Card and have not received a new Cardmember bonus within the last 24 months. This does not apply to Business Card and Employee Credit Card products.
Basically, you can get one sign-up bonus from a Southwest consumer card once every 24 months. You can also get one sign-up bonus from a Southwest business card once every 24 months.
Stack your Companion Pass with Chase Ultimate Rewards points. If you have the Chase Sapphire Preferred or Chase Sapphire Reserve, you can transfer Ultimate Rewards points to Southwest points on a 1:1 basis. If you book an award flight with those Southwest points while you have the Companion Pass, you can double the value of your Ultimate Rewards points as well.
Bottom line. Southwest credit cards offer new cardholders the opportunity to earn hundreds of dollars worth of Wanna Get Away airfare, but if you time things right and maybe combine the welcome offers from a personal and business card, you can also grab the Southwest Companion pass, which provides a free companion ticket on every flight bought with cash OR points booked both during the rest of the year in which you earned it, AND the full next calendar year.
Also see: Top 10 Best Credit Card Bonus Offers and the Top 10 Best Business Card Offers.
The information for the Southwest Rapid Rewards Cards has been collected independently by My Money Blog. The card details on this page have not been reviewed or provided by the card issuer.
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Can you apply for business card with social security number (without a business)? I read on another site that something called an EIN number is needed for an individual applying for a business card.
Yes, you can enter your Social Security Number as the Tax ID. This is standard for a sole proprietorship.
Jonathan
Can you do a post to show how to enter the income earned through new business savings/checking account opening bonuses please?
Sorry, not exactly sure what you’re asking?
I recently applied for the Chase Ink Business Unlimited Card in April 2019. I have applied for Chase Business cards in the past for both myself and my girlfriend, and they have all been approved with very few extra steps and no extra required documentation, etc.
This time is completely different. They want proof of business address, proof of business name, and proof of business TIN. Documents required can be Articles of Incorporation, Certificate of Formation, IRS TIN confirmation letter, sales tax permit, tax account transcript, utility bill in business name. I am a simple sole proprietor that does some construction work on the side. It probably goes without saying, but I don’t have these documents. I simply file taxes under my own SSN.
Are others experiencing similar requests, or did I inadvertently set off a flag that made Chase ask for all of this extra documentation? Is this Chase trying to crack down on what they perceive as abuse of their business credit card bonuses?
I posted my comment here because of the question above, even though my card was not the Southwest card.
can I apply both premier and performance business cards at the same time?
Just wanted to say I appreciate that you post these types of offers. Thank you! Other blogs post tons of new card offers (too many!) but the selected ones you choose are totally in line with what I am looking for in sign up bonuses. Thanks again!
Glad you find it useful!
Actually the gift card exchange right right now is 6750 for $50
https://www.1.awardhq.com/24468SWANCMSWARRNCM/shop/gift-cards/_/N-115344+4294933308
Thanks, fixed.
Should/are you able to wait until January 1 to apply to any of these cards to ensure the points are earned in 2021? Thanks.
No, there is basically no way that your bonus points would arrive before 2021. Even if you applied in early December 2020 and received the card by mid-December, your first monthly statement would not close until sometime in January. No points will post until at least after the first statement closes in 2021.
Do beware if you are not able to use the points for flying, they may be worth little or less. Earlier this year they severely devalued the gift card ratio in half (was over a penny per point) and removed many popular options (like Amazon). Over a month ago they took down the gift card conversion site entirely (for “maintenance”). Can be a great deal if you intend to use them for flying although another unannounced devaluation is likely to occur at least annually.
Thanks for the heads up.
Hello,
The Southwest points do not expire. Correct? Previously, they were valid for 2 years but now they never expire. Is my understanding correct?
From Southwest website as of October 2021:
The premiere business would be good IF you could apply later in the year (October?) and get the bonus in early 2024 so you get nearly two years of companion pass
“With this business credit card promotion for new cardholders, you could qualify for a Companion Pass with a single card. By spending the $3,000 in the first 3 months from account opening and also $15,000 in purchases well before the end of 2023, you would earn at least 15,000 points for the purchases themselves (more if in a bonus category), and then you could add the 120,000 bonus points, putting you across the 135,000 point threshold.”
Is there a 120,000-point offer or is that text wrong/outdated?
Sorry, that refers to an expired business card limited-time offer. I have removed the paragraph, thanks!
Why not apply for 2 personal cards instead of one personal card and one business card?
Chase typically won’t give you the bonus for a new second personal credit card if you already have any personal card. I do know that you have a personal and a business at the same time. You can accrue points from both your personal card and your business card in your personal Rapid Rewards account.
do the points accrue based off of date of transaction or based off of your statement closing date? so if my december spending does not close until january 2nd, does that mean those december charges will accrue points that count for 2024? or doe the charges actually have to occur after january 1st? thanks!
mike
It should go by whenever the points post to your Southwest Rapid Rewards account, usually once a month after close. I doubt they would be given the ability to know the dates when you made all your credit card purchases.
I’ve had both personal and business versions of this card in the past and it is based on statement close.
I’m once again asking: Is there an easy business I can start with the goal of getting credit cards for the business? Something legitimate but it takes up a very small amount of time and I can get credit card points.
Also, do I have to spend the business credit card on business transactions or can I buy groceries with it?
There are many things that people do as a side business – Uber, DoorDash, eBay, thrifting to resell on Amazon, crafts to sell on Etsy, and so on. You are a business in all these cases.
There is really nothing different from putting a charge on a business card than a personal card. You can charge whatever you want, but your accounting may be complicated. Often I have to split things anyway. There are some consumer protection legal differences, but often the companies replicate the coverage voluntarily on their own.