UPDATE 11/19/17: Currently, only the Premier Business card has a 60,000 point sign-up bonus. The offer on the other two cards has expired. It will likely be back again this year so watch out for an alert on our Twitter page.
Chase is currently offering a 60,000 point sign up bonus for each of their three Southwest Airlines branded credit cards. If you frequently fly domestic and are in the market for a new travel credit card, consider getting one (or even two or three) of these.
- Southwest Rapid Rewards Plus
- Southwest Rapid Rewards Premier
- Southwest Rapid Rewards Premier Business
While each of these cards has fees, you’ll soon discover that the reward values vastly outweigh and negate them.
There are three primary reasons that I’ll discuss as to why this card may be a good fit for you.
- Redeeming free flights with Southwest.
- Earning the Southwest Companion Pass.
- Amazon credit worth $600 to $1,800.
Free Southwest Flights
This is probably the most self-explanatory reason for getting a Southwest card. If you live near a Southwest Airlines hub, you can get a lot of value out of 60,000 points. Southwest’s Rapid Rewards program is fare-based, meaning that a point’s value fluctuates depending on the actual cost of airfare. Generally, you can get at least 1¢ per point value.
The regular offer for this card is 40,000 points, so applying now will yield you 20,000 extra points per card.
Southwest Companion Pass
The Southwest Companion Pass is a highly coveted travel perk that lets you choose one person to fly with you for free every time you purchase a Southwest flight. If you and your Significant other travel often, this is a great deal because it effectively reduces your airfare cost by 50%. If you don’t have an SO, designate your friend, family member, or coworker as your travel companion.
Normally, earning a Companion Pass requires 100 qualifying one-way flights or earning 110,000 qualifying points in a single calendar year. However, the points you earn on your credit card count as qualifying points. Thus, if you earn the bonus on two of these Southwest cards at 60k each, you earn a total of 120k points and automatically qualify for the Companion Pass.
On top of that, you can still use those 120,000 Rapid Rewards points that you earned to book flights. Flights booked with rewards points also give you that extra free seat for your companion.
The Companion Pass is good for the remainder of the year in which you earned it, and the entirety of the following year. So as an example, if you earn it next month in September 2017, then you have the pass all the way through to December 31, 2018. A lot of travelers who want to maximize the CP even further will wait until January of a calendar year to get those qualifying 110k points. That way, you’ll have the Companion Pass for nearly two full years!
Amazon Gift Cards
Even if you have no desire or plan to ever fly Southwest, you might still consider getting a Southwest Credit Card for Amazon gift cards. You can redeem 5,000 Rapid Rewards points for a $50 Amazon gift card. So a sign up bonus of 60,000 Rapid Rewards points can be redeemed for $600 of Amazon credit. This also means that getting two of these bonuses will net you $1,200 of Amazon gift cards, and three will net you $1,800!
Considerations & Thoughts
5/24: These cards all fall under Chase’s 5/24 Rule. If you’re unfamiliar with this, it basically means that Chase has a policy in which they will deny applications for credit to individuals who have opened more than 5 credit cards in the last 24 months. If you’re planning on other credit cards that are most lucrative, or if you already opened more than 5 cards in this timeframe, do not apply for these cards.
2/30: Chase also has a 2/30 rule, meaning that if you apply for more than 2 Chase cards within 30 days, you will automatically be declined.
If these rules don’t impact you and you are looking for new credit cards, these are all great offers. This is a limited time offer. Though it comes back now and again, there’s no telling when the next time a 60k bonus comes rolling in. Comment down below if you have any questions.