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Want a Southwest Companion Pass? Now’s the perfect time to get one

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The increased Southwest credit card offers won’t be around much longer. This is the last call to earn 75,000 bonus Southwest points after spending $3,000 on your new card in the first three months of account opening. This welcome bonus is available on all of the Southwest consumer cards:

Now is the perfect time to get a Southwest credit card if you’re interested in earning a Southwest Companion Pass and unlocking the ability to bring a companion along on all Southwest flights for just the cost of taxes and fees. You have to earn 135,000 qualifying points within a calendar year to get the Pass, which is then valid for the rest of that year and all of the following year. That means by opening a Southwest card now, you lock in your chance to earn its hefty bonus in early 2024, which maximizes the length of time you can use it.

Last call: Southwest card offers

The personal Southwest cards all currently have the same bonus offer, but each card comes with unique perks and a different annual fee. The best credit card for you will depend on your travel habits and what you want out of an airline credit card.

The Southwest Rapid Rewards® Plus Credit Card has the lowest annual fee and is best if you only occasionally fly with Southwest. Cardmembers get 3,000 bonus points on their cardmember anniversary and 25% off inflight purchases.

Southwest Rapid Rewards® Plus Credit Card

  • Rewards

    Earn 2X points on Southwest® purchases, 2X points on local transit and commuting, including rideshare; 2X points on internet, cable and phone services; select streaming. 1X points on all other purchases

  • Welcome bonus

    Earn 75,000 bonus points after spending $3,000 on purchases in the first 3 months from account opening.

  • Annual fee

  • Intro APR

  • Regular APR

  • Balance transfer fee

  • Foreign transaction fees

  • Credit needed

The Southwest Rapid Rewards® Premier Credit Card is the mid-tier Southwest card. It offers cardholders a chance to earn tier qualifying points and expedite their journey to Southwest elite status and comes with a 6,000-point bonus every cardmember anniversary.

Southwest Rapid Rewards® Premier Credit Card

  • Rewards

    Earn 3X points on Southwest® purchases, 2X points on local transit and commuting, including rideshare; 2X points on internet, cable, and phone services; select streaming. 1X points on all other purchases

  • Welcome bonus

    Earn 75,000 bonus points after spending $3,000 on purchases in the first 3 months from account opening.

  • Annual fee

  • Intro APR

  • Regular APR

  • Balance transfer fee

  • Foreign transaction fees

  • Credit needed

Diehard Southwest loyalists can do well with the Southwest Rapid Rewards® Priority Credit Card. Cardholders receive 7,500 bonus points every cardmember anniversary, an annual $75 Southwest travel credit and four upgraded boardings per year (when available).

Southwest Rapid Rewards® Priority Credit Card

  • Rewards

    Earn 3X points on Southwest® purchases, 2X points on local transit and commuting, including rideshare; 2X points on internet, cable, and phone services; select streaming. 1X points on all other purchases

  • Welcome bonus

    Earn 75,000 bonus points after spending $3,000 on purchases in the first 3 months from account opening.

  • Annual fee

  • Intro APR

  • Regular APR

  • Balance transfer fee

  • Foreign transaction fees

  • Credit needed

Who should get a Southwest credit card?

Southwest is known for having affordable flights and charging fewer fees, with no change or cancellation fees and free checked bags for all passengers. If you live near or frequently travel to/from a Southwest hub airport, opening a Southwest card is a great option for cutting your travel expenses.

Getting a Southwest personal card is an even better deal if you also qualify for one of the airline’s small business credit cards because the intro bonuses will stack to help you earn a Companion Pass. You need to earn 135,000 qualifying points in a calendar year to get a Companion Pass, and you get a 10,000-point boost just for having a Southwest card. Once you earn the current 75,000-point bonus from a personal card, the bonus from either the Southwest® Rapid Rewards® Performance Business Credit Card or Southwest® Rapid Rewards® Premier Business Credit Card should be enough to get you a Companion Pass.

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Southwest® Rapid Rewards® Performance Business Credit Card

  • Rewards

    Earn 4X points on Southwest® purchases; 3X points on Rapid Rewards® hotel and car rental partners; 2X points on rideshare; 2X points on social media and search engine advertising, internet, cable, and phone services; 1X points on all other purchases

  • Welcome bonus

    Earn 80,000 points after you spend $5,000 on purchases in the first 3 months from account opening.

  • Annual fee

    $199 applied to first billing statement

  • Intro APR

  • Regular APR

  • Balance transfer fee

  • Foreign transaction fees

  • Credit needed

Member FDIC. Terms apply.

Southwest® Rapid Rewards® Premier Business Credit Card

  • Rewards

    Earn 3X points on Southwest® purchases; 2X points on local transit and commuting, including rideshare; 2X points on Rapid Rewards® hotel and car partners; 1X points on all other purchases

  • Welcome bonus

    Earn 60,000 points after you spend $3,000 on purchases in the first 3 months your account is open.

  • Annual fee

  • Intro APR

  • Regular APR

  • Balance transfer fee

  • Foreign transaction fees

  • Credit needed

Earning a Companion Pass will also indirectly make the travel rewards you earn with certain Chase credit cards more valuable. Cards like the Chase Sapphire Preferred® Card allow you to transfer Chase points to all of Chase’s travel partners — including Southwest. These point transfers won’t help you earn a Companion Pass, but if you already have one then you’re essentially doubling the value of using Chase points for Southwest redemptions because you can bring someone on flights booked with points.

Chase Sapphire Preferred® Card

  • Rewards

    $50 annual Ultimate Rewards Hotel Credit, 5X points on travel purchased through Chase Ultimate Rewards®, 3X points on dining, 3X points on select streaming services and online grocery purchases (excluding Target, Walmart and wholesale clubs), 2X points on all other travel purchases, and 1X points on all other purchases

  • Welcome bonus

    Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Ultimate Rewards®.

  • Annual fee

  • Intro APR

  • Regular APR

    21.49% – 28.49% variable on purchases and balance transfers

  • Balance transfer fee

    Either $5 or 5% of the amount of each transfer, whichever is greater

  • Foreign transaction fee

  • Credit needed

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Bottom line

The increased Southwest credit card welcome bonus offers are ending soon. Now is an ideal time for these deals because the intro bonus counts toward earning a Southwest Companion Pass. When you earn the Companion Pass you can use it for the rest of the year you earned it and all of the following year. Earning it earlier in the year gives you more time to take advantage of this benefit.

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At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card story is based on rigorous reporting by our team of expert writers and editorsWhile CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.

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Source: CNBC

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