The Southwest Airlines Companion Pass is about the most valuable thing ever for those who want to travel for free with points and miles.
Companion Pass holders get to add someone to all of their reservations for just the cost of taxes and fees, typically $5.60 per domestic flight. This year and in previous years, my wife and I have both earned our passes by receiving the sign-up bonuses for both a personal and a small business credit card, plus a little extra spending.
But now, Southwest has released a new small business credit card with a bombshell offer of 80,000 points for new applicants. By itself, this offer will get you most of the way to the 110,000 points needed to earn the pass, which is valid until the end of the next calendar year.
About the new Southwest Rapid Rewards Performance Business credit card
The Southwest Rapid Rewards Performance Business small business credit card offers you 80,000 points after you spend $5,000 on new purchases within three months of account opening. You also earn 3x points for Southwest purchases and 2x points for spending on social media and search engine advertising, Internet, cable, and phone services. You earn one point per dollar spent elsewhere.
Benefits include four upgraded boardings per year and up to 365 credits each year towards in-flight Wi-Fi purchases (normally $8 each). You’ll also receive a $100 credit towards the application fee for TSA PreCheck or Global Entry, which includes PreCheck. There’s a $199 annual fee for this card, but you receive 9,000 points each year, worth about $135 in travel.
Southwest Rapid Rewards points are worth about 1.5 cents each towards airfare, making this sign-up bonus by itself worth around $1,200 in award travel.
How to use this card to get your Companion Pass
By meeting the $5,000 minimum spending requirement, you’ll earn at total of at least 85,000 points, leaving you just 25,000 points away from earning the Companion Pass, which will be valid until the end of 2020.
You can earn those additional 25,000 points through additional spending on your card, or any of the other Southwest Rapid Rewards credit cards you might have, or by flying Southwest.
In fact, you may have enough points already to allow this card to put you over the top and get the Companion Pass. But if you also apply for one of the personal Rapid Reward cards you’ll quickly earn more than enough points, as their sign-up bonuses are currently 40,000 points.
What you can do with the Companion Pass
You can add your designated companion to any ticket in your name, including both paid and award tickets. It even works if someone else pays for the ticket or if someone else uses their points to book your award flight.
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There’s no limit to the number of times you can add a companion, so this pass has nearly unlimited value. You can change your designated companion three times per calendar year, just note that you must fly with your companion when he or she has a ticket.
Can you qualify for a small business credit card?
Operating nearly any kind of business, no matter how small, can allow you to be approved for a small business credit card. This includes not just corporations and LLC’s, but also unincorporated sole proprietors.
So, if you babysit, drive for a ride sharing company or just sell stuff online, you can qualify for the small business credit card. If you don’t have an Employer Identification Number (EIN), you can use your Social Security Number (SSN) instead.
A quick word about credit cards
The Southwest Airlines Companion Pass is incredibly valuable, but you always have to look at the big picture before applying for a new credit card.
Money expert Clark Howard only recommends using rewards credit cards when you can avoid interest charges by paying off your entire statement balance every month. If having a credit card will cause you to make unnecessary purchases, then it’s best not to worry about them. For more information, read Clark’s philosophy on credit cards.
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