There's huge news today for those who like to travel more and spend less: A massive 120,000-point sign-up bonus is out for the Southwest Rapid Rewards business cards.
Those 120,000 bonus points alone are worth a whopping $1,560, according to TPG's June 2024 valuations … but it's also a big enough bonus that you can feasibly earn the highly coveted Southwest Companion Pass from a single card sign-up offer!
Here is how these offers work: - Southwest® Rapid Rewards® Premier Business Credit Card: Earn 60,000 points after you spend $3,000 on purchases in the first three months from account opening, and an additional 60,000 points when you spend $15,000 in nine months.
- Southwest® Rapid Rewards® Performance Business Credit Card: Earn 80,000 points after you spend $5,000 on purchases in the first three months from account opening, and an additional 40,000 points when you spend $15,000 in nine months.
One way to obtain the Companion Pass is by earning 135,000 qualifying points in a calendar year, and that can include bonus points from a Southwest card sign-up bonus.
Since all holders of a Southwest cobranded card automatically receive 10,000 qualifying points toward the Companion Pass each year, you'd need to earn 125,000 more points through spending, flying and/or a sign-up bonus in the same calendar year.
If you earn the full 120,000-point sign-up bonus, then along with having the 10,000-point head start, you'd earn enough Companion Pass-eligible points once you factor in the points earned from the spending to unlock the bonus — assuming you do it all (and it all posts) in 2024.
The Companion Pass is good for the remainder of the year during which it's been earned, plus the entire next calendar year, so the faster you earn it, the more time you have to use it.
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