Have a Small Business? Get Companion Pass With A Single Credit Card 100k Bonus

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New limited-time 100k small business card bonus. Southwest Airlines offers a unique feature called the Companion Pass, which lets you pick one person to fly with free when you book either paid or award flights (including to Hawaii!). If you either fly 100 qualifying one-way flights or earn 125,000 qualifying points (or 100 one-way flights) within calendar year 2020, you’ll earn the Companion Pass for the remainder of 2020 and all of 2021! (That makes right now the perfect time to start your collecting.) You can change your designated companion up to three times each calendar year.

Points earned from credit cards count toward that 125,000 point requirement, including sign-up bonuses. You can often get very close to that magic number when you add up the potential miles from these Southwest consumer and business cards. This is on top of the value of redeeming those points for miles (75,000 points can get you $1,100+ in Wanna Get Away airfare).

New! – Qualify for a Companion Pass in 2020 and 2021 with a single credit card sign-up and 25k in qualifying purchases! For a limited-time, if you apply for the Southwest Rapid Rewards Performance Business card (see below) and can satisfy the required $5,000 in purchases in the first 3 months and $25,000 in purchases in the first 6 months, you will have earned at least 25,000 Rapid Rewards points from your spendings PLUS the 100,000 bonus points, which brings you to a total of 125,000 points = Companion Pass! Not to mention the roughly $1,500 worth of in Wanna Get Away airfare.

Southwest Rapid Rewards Performance Business card

  • Up to 100,000 bonus Rapid Rewards points. Earn 70,000 points after $5,000 in purchases in the first 3 months. Earn an additional 30,000 points after $25,000 in purchases in the first 6 months, for a total of 100,000 points.
  • 9,000 bonus points after each Cardmember anniversary.
  • 3 points per $1 spent on Southwest Airlines® purchases.
  • 2 points per $1 spent 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 of up to 365 x $8 credits.
  • Global Entry or TSA PreCheck® Fee credit in the form of a statement credit of up to $100 every four years.
  • $199 annual fee.

Here is the rest of the Southwest credit card line-up:

Southwest Rapid Rewards® Priority card

  • 40,000 bonus Rapid Rewards points after you $1,000 in purchases in the first 3 months.
  • 7,500 bonus points after each Cardmember anniversary.
  • $75 Southwest annual travel credit.
  • Four Upgraded Boardings per year when available.
  • 20% back on inflight drinks, WiFi, messaging, and movies.
  • Earn tier qualifying points towards A-list status.
  • 2 points per $1 spent on Southwest® purchases and Rapid Rewards® Hotel and Car Rental Partner purchases.
  • 1 point per $1 spent on all other purchases.
  • $149 annual fee.

Southwest Rapid Rewards® Plus credit card

  • 40,000 bonus Rapid Rewards points after you $1,000 in purchases in the first 3 months.
  • 3,000 bonus points after each Cardmember anniversary.
  • 2 points per $1 spent on Southwest® purchases and Rapid Rewards® Hotel and Car Rental Partner purchases.
  • 1 point per $1 spent on all other purchases.
  • $69 annual fee.

Southwest Rapid Rewards® Premier card

  • 40,000 bonus Rapid Rewards points after you $1,000 in purchases in the first 3 months.
  • 6,000 bonus points after each Cardmember anniversary.
  • 2 points per $1 spent on Southwest® purchases and Rapid Rewards® Hotel and Car Rental Partner purchases.
  • 1 point per $1 spent on all other purchases.
  • $99 annual fee.

Southwest Rapid Rewards Premier Business card

  • 60,000 Rapid Rewards points after you spend $3,000 on purchases in the first 3 months.
  • 6,000 bonus points after each Cardmember anniversary.
  • 2 points per $1 spent on Southwest® purchases and Rapid Rewards® Hotel and Car Rental Partner purchases.
  • 1 point per $1 spent on all other purchases.
  • $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 1.5 cents in Wanna Get Away airfare in per point. That works out to $600+ in Wanna Get Away airfare from 40,000 points or $900+ in Wanna Get Away airfare for 60,000 points or $1,100+ in Wanna Get Away airfare from 75,000 points (you are still liable for taxes and fees from $5.60 one-way). Importantly, Southwest does NOT have blackout dates or seat restrictions when you redeem with points. This means that Southwest points are much easier to use than a “saver award” on traditional airlines.

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.

A backup option is gift card redemptions. You can currently redeem 6,750 points for a $50 a Amazon.com or Walmart gift certificate. That makes 60,000 points worth $444 in Amazon or Walmart gift cards. It’s something, but less than half the value you could get from redeeming for flights.

Southwest still includes two free checked bags per person. The fees on the other airlines have crept up to $30 per bag, each-way. That adds up.

Our family policy is to not try out a new credit card unless it offers us $500 in total value. Just the free award flights from the points are enough to satisfy that rule, and then you can add on the potential value of the companion tickets.

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:

The product is not available to either (i) current Cardmembers of any Southwest Rapid Rewards® Credit Card, or (ii) previous Cardmembers of any Southwest Rapid Rewards Credit Card who received a new Cardmember bonus within the last 24 months. This does not apply to Cardmembers of the Southwest Rapid Rewards 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.

Extending 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. The idea is is to book an award flight with those Southwest points while you have the Companion Pass, thus doubling the value of your Ultimate Rewards points as well.

Bottom line. Right now, you can earn up to 100,000 Southwest points from qualifying for a single credit card sign-up, which in itself can be redeemed for a lot of free Southwest flights (including to Hawaii!). Earning 125,000 points overall (including from credit card rewards and bonuses) in a year will earn you the Southwest Companion pass, which provides a free companion ticket on every flight bought with cash or points for the rest of the current year and all of the next year. Finally, Southwest still includes two free checked bags per person on every flight.

Also see: Top 10 Best Credit Card Bonus Offers and also the Top 10 Best Business Card Offers.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.



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Comments

  1. 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.

  2. 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.

  3. can I apply both premier and performance business cards at the same time?

  4. 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!

  5. Actually the gift card exchange right right now is 6750 for $50
    https://www.1.awardhq.com/24468SWANCMSWARRNCM/shop/gift-cards/_/N-115344+4294933308

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