Best time approaches to apply for Southwest Airlines’ Companion Pass via cobranded cards

The current welcome offer on the Southwest Rapid Rewards Performance Business Credit Card provides new cardholders with 120,000 points after spending $10,000 within three months of account opening. This offer brings cardholders close to meeting the threshold for a Companion Pass when combined with regular spending and annual point boosts.

Personal credit cards such as the Southwest Rapid Rewards Plus Credit Card ($99 annual fee), Premier Credit Card ($149 annual fee), and Priority Credit Card ($229 annual fee) each offer a bonus of 50,000 points after meeting minimum spend requirements. The business-oriented Premier Business Credit Card currently offers a bonus of 60,000 points after $3,000 spent in three months.

Eligibility rules vary between personal and business cards. Applicants cannot receive a new cardmember bonus if they have had any personal Southwest Rapid Rewards card bonus within the past 24 months or currently hold one of these cards. However, it is possible to earn bonuses from both a small-business credit card and a personal credit card within one calendar year.

Chase’s “5/24 rule” applies: those who have opened five or more new personal credit cards across issuers in two years may be denied when applying for another Chase-issued card.

The optimal strategy involves applying for the Performance Business card around mid-October so that required spending can be timed to ensure bonus points post in January—maximizing pass validity through nearly two full years.

"This new Cardmember bonus offer is not available to either (i) current Cardmembers of this business credit card, or (ii) previous Cardmembers of this business credit card who received a new Cardmember bonus for this business credit card within the last 24 months."

"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."

By planning application timing and meeting minimum spend requirements strategically at year-end into early next year, travelers can secure almost two years of travel benefits with their chosen companion using accumulated rewards.