A few days ago, my wife and I earned our first ever Southwest Companion Pass. We’d set out to earn this perk last year when a deal came up that gave us the opportunity to earn the Companion Pass in the first few weeks of January. By timing it just right, we now have essentially free travel on Southwest flights for the next 24 months. It’s a pretty incredible perk.
The key to earning the Companion Pass is taking advantage of opportunities when Southwest Credit Card signup bonuses are higher than normal – that way, you can earn the Companion Pass just by meeting the minimum spending requirements on two credit cards. These opportunities seem to come up pretty regularly – I counted 3 or 4 times last year when it was possible to do this.
I’ve been on a kick recently trying to get people to earn the Companion Pass who I think could really get a lot of use from it. My buddy is a great example of someone who I think needs to take advantage of this deal – he’s a got a baby on the way, his parents live out on the east coast, and he has other family members scattered throughout the country.
If he snagged the Companion Pass right now (which wouldn’t be very hard for him to do), it would be possible for him to fly himself, his wife, and his baby to see his family anytime he wanted, completely free, for the next two years. What follows is hopefully a post that will convince him to do just that.
What Is The Southwest Companion Pass?
The basics of the Companion Pass are pretty straightforward. It works like this:
- When you earn the Companion Pass, anytime you buy a ticket, you get to designate a companion to fly with you for free. So, you basically buy one ticket, then once you’ve bought that ticket, you’ll get an option to designate a second person to fly with you. You can change your companion three times per year, so in theory, you can fly with multiple people, although you’ll probably want to fly with your spouse most often.
- You can use Southwest points to book your ticket and you’ll still be able to designate a companion with that ticket. Basically, the flight is free and your points go twice as far since your Southwest points can fly two people.
- The Companion Pass is good for the calendar year that you earn it in, plus the entirety of the next calendar year. At max, you could have the Companion Pass for 24 months (like what my wife and I have since we earned ours in January of this year). At worst, you can have the Companion Pass for 13 months. Obviously, you want the Companion Pass to last closer to 24 months then to 13 months.
The most important thing about the Companion Pass is that last bullet point – you want to earn the Companion Pass as early in the year as possible, ideally within the first 3 or 4 months of the year. That way, you’ll get somewhere between 20 and 24 months of free flights.
My wife and I basically played the Companion Pass game perfectly. We earned it in the second week of January, and as a result, our Companion Pass will be good for the next two years. That’s a lot of free flights over the course of 24 months. And when her Companion Pass expires, I’ll go ahead and earn it for myself, extending our Companion Pass for another 2 years.
How To Get The Southwest Companion Pass
Getting the Companion Pass is pretty straightforward. To earn it, one person has to earn 125,000 Southwest points in one calendar year. You can do this by spending your way to those points or flying your way to the Companion Pass – but that’s pretty much impossible for your normal traveler.
Instead, the best way to open two Southwest credit cards and earn your 125,000 Southwest points via signup bonuses.
There are currently five Southwest credit cards available as of the date this is written. Three are personal cards and two are business cards.
In order to get the Companion Pass, you will need to open a Southwest personal card and a Southwest business card, or open two Southwest business cards.
The first three Southwest cards in the above list are personal cards. Note that under the current Chase rules, you are only allowed to have one personal Southwest card open at a time. In the past, it was possible to have multiple Southwest personal cards open, but that is no longer the case. It’s up to you which of the cards makes more sense to you (they differ in their annual fees and in the benefits they offer).
The last two cards in the above list are business credit cards, and you will need to open at least one of them in order to earn the Companion Pass. A lot of people are scared of opening up business cards because they don’t think they have a business, but remember that if you do any side hustling, you absolutely have a business. In fact, if you’re reading this blog, you’re probably side hustling in some way, which means that you are a sole proprietor and have your own business. Take advantage of that fact!
With that said, here are the general steps to earn the Southwest Companion Pass in the most optimal way possible.
- First, set up a Southwest Rapid Rewards account. You’ll need your Rapid Rewards number so that your points can be designated to the right account.
- Next, decide whether you want to earn the Southwest Companion Pass by opening up 1 personal card and 1 business card, or by opening up 2 business cards.
- Once you’ve snagged both cards, make sure to hit the minimum spends in the required time. Once you hit the spend, you’ll earn your Companion Pass. If you start early in the year, you’ll have the Companion Pass for somewhere between 20 and 24 months depending on how fast you hit the spend. The optimal thing to do is to make sure the signup bonuses post as early in the year as possible.
One caveat to consider – make sure you understand the Chase 5/24 Rule. You can read more about that rule in this post. Basically, if you’ve opened up too many credit cards in the past 24 months, you won’t be able to snag these cards.
What Are Our Plans For Our Southwest Companion Pass?
Having this perk is pretty awesome – just a year ago, I’d never even thought of travel hacking as a viable money strategy. The way I see it, for most people who are good with money, flying anywhere can be very affordable (and free in many cases).
Minneapolis isn’t necessarily the best place to have the Companion Pass, but it still offers a lot of direct flights that we can take advantage of for weekend trips. I have family that lives out in DC, so flying back home shouldn’t be a problem – and it’s something I haven’t done as much since it was a little bit cost prohibitive just to fly home for a weekend. That’s not the case anymore.
I also have friends in Atlanta, which means a weekend jaunt out there shouldn’t be a problem either. In fact, my buddy has been bugging me to go visit him for months now, and this is something that my wife and I should be able to do now.
Other good destinations for us include Chicago and Denver – two places that we absolutely love. It’s amazing how close Chicago is to us – it’s pretty much only an hour away now, close enough to go there for a day trip even, in theory.
If you can, you need to take advantage of something like this. Probably the best people for the Companion Pass are people like my friend, who have a newborn baby on the way. Since babies fly for free until they’re 2 years old, someone snagging a Companion Pass in that situation can basically fly three people for free for 2 years. Just think about what a new family can do with all that travel.
If you have a use for it, the Companion Pass is just way too good to miss out on. And like with all things credit cards, you never know if it’ll stick around. My advice is to always grab what you can, while you can.
Safe travels everyone!
More Recommended Ebike/Scooters
Check out these other ebikes/scooters I've had the chance to do a review for:
- GEN3 Outcross Bike – The GEN3 Outcross is a solid, affordable fat tire ebike that does a good job of doing what I need it to do. It works great for city riding, giving me a smooth ride in all conditions. It’s works really well as a winter ebike since the fat tires give it good traction over snow and ice. Check out my GEN3 Outcross Review.
- Himiway Escape Bike – The Himiway Escape is an interesting bike for anyone looking for a moped-style ebike. If you’re a gig economy worker, the Himiway Escape is particularly interesting and it’s possible to think of it as an investment, especially if you can opt to do deliveries with the Himiway versus using a car. It’s not cheap, but you can definitely make your money back when you compare the mileage you’ll put on your car versus using an ebike. Check out my Himiway Escape Bike Review.
- Espin Sport Bike – The Espin Sport is a good ebike for someone who is looking for an ebike that feels and rides more like a regular bike. There are many ebikes that are really only bikes in name. In reality, they’re basically electric mopeds. The Espin Sport, by contrast, is a bike you could probably ride without the battery and you’d feel like you’re just riding a regular bike. Check out my Espin Sport Review.
- Varla Eagle One Scooter – The Varla Eagle One is an excellent scooter that can make sense for a lot of people. It can work as a primary mode of transportation. You can use it to work on gig economy apps like DoorDash, Uber Eats, and Grubhub. And it can also be a recreational vehicle if you’d prefer to use it for that. Check out my Varla Eagle One Review.
- Fucare H3 Scooter – The Fucare H3 is a fun scooter and I’ve enjoyed testing it out. For a daily commuter or quick trips or errands, the Fucare H3 is probably the scooter I’ll use. It’s portable and easy to maneuver, so it’s just easier to take on the road when I need it. Check out my Fucare H3 Scooter Review.
More Recommended Investing App Bonuses
For additional investing app bonuses, be sure to check out the ones below:
- M1 Finance ($10) – This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $10 for opening an account. Check out my M1 Finance Referral Bonus – Step-By-Step Guide.
- SoFi Invest ($25) – SoFi Invest is an easy brokerage account bonus that you can earn with just a few minutes of work. Use my SoFi Invest referral link, fund your SoFi Invest brokerage account with $100 and you’ll get $25 of free stock. I also have a step-by-step guide for the SoFi Invest referral bonus.
- Moomoo (5 free stocks) – Moomoo is a free investing app currently offering 5 free stocks (usually worth around $75-$100) if you open an account using a referral link and deposit $2,000. Read my Moomoo referral bonus guide for more information.
- Webull (5 free stocks) – Webull also gives you 5 free stock valued between $3-$3,000 each if you open an account using my referral link. Here’s a guide I wrote about how to earn your free stocks using Webull.
- Robinhood (1 free stock) – Robinhood gives you a free stock valued between $2.50-$225 if you open an account using my referral link.
- Public (1 free stock) - Public gives you a free stock valued between $3-$70 if you open an account using my referral link.
More Recommended Bank Account Bonuses
If you’re looking for more easy bank bonuses, check out the below options. These bonuses are all easy to earn and have no fees or minimum balance requirements to worry about.
- Chime ($100) - Chime is a free bank account that offers a referral bonus if you use a referral link and complete a direct deposit of $200 or more. In practice, any ACH transfer into this account triggers the bonus. This bonus is easy to earn and posts instantly, so you’ll know if you met the requirements as soon as you move money into the account. I wrote a step-by-step guide on how to earn your Chime referral bonus that I recommend you check out.
- Upgrade ($100) – Upgrade is a free checking account that’s currently offering a $100 referral bonus if you open an account and complete three debit card transactions. These bonus terms are easy to meet, so it’s well worth doing this bonus as soon as you can. Importantly, this bonus says that it’s now scheduled to end on October 31, 2022. As long as you get your account opened before October 31st, you should be eligible. Here’s a post I wrote with more details: Upgrade $100 Referral Bonus – Step By Step Directions.
- SoFi Money ($350) – SoFi Money is a free checking account from SoFi. They’re currently offering a $25 referral bonus if you open a SoFi account with a referral link and deposit $10. You can also make an additional $300 as well if you complete a direct deposit. This is a good bank that is also 100% free, so you won’t have to worry about managing this account. Here’s a post I wrote with instructions on how to earn your SoFi Money bonus: SoFi Money Referral Bonus: Step By Step Guide.
- Fifth Third Bank ($250) – This offer is limited to customers in the following states: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, Tennessee, West Virginia, and South Carolina. If you don’t live in one of those states, you won’t be able to open an account online but you can still open an account in-branch if you happen to be visiting a city that has a branch. This is a fairly easy bank bonus to earn, especially since there are plenty of data points showing what will trigger the direct deposit requirement. In addition, you can open the Fifth Third Momentum Checking bank account, which comes with no monthly fees or minimum balance requirements. Read my guide on this bonus here.
- Current ($50) – Current is a free fintech bank that’s offering new users a $50 referral bonus after signing up for an account using a referral link.Current is an easy bonus to earn and also gives you access to three savings accounts that pay you 4% interest on up to $2,000. That means you can put away up to $6,000 earning 4% interest. That’s very good and makes Current an account I recommend to everyone. Check out my step-by-step guide on how to earn your Current Bank bonus.
- OnJuno ($100) – OnJuno is a fintech/neobank that is currently offering a $100 referral bonus if you open an account using a referral link and complete a direct deposit of $250 or more. The account has no fees or minimum balance requirements. Even better, the bonus posts immediately after you meet the requirements. If you can meet the direct deposit requirements, OnJuno is an easy bank bonus that’s worth snagging. Check out my OnJuno referral bonus guide here.
- Varo ($50) – Varo is a free fintech banking app similar to Chime or Current. It’s currently offering a $50 bonus to new users that open a new Varo account with a referral link. The bonus for this bank is very easy to meet, all you need to do is spend $20 within 30 days of opening your Varo account. Check out my step-by-step guide to learn how to earn this bonus.
- Fairwinds Credit Union ($100) – Fairwinds Credit Union is offering a referral bonus for users that sign up using a referral link. Fairwinds has no fees or minimum balance, so this is a particularly easy bonus to earn. Since this is a smaller credit union, my gut instinct tells me this offer won’t be around long, so if you’re in a position to meet the bonus requirements, grab this bonus before it’s gone. Here is my step-by-step guide on how to earn your Fairwinds Credit Union bonus.
- Novo Bank ($40) - Novo bank is a free business checking account that’s currently offering a $40 bonus if you open a Novo business checking account using a referral link. In addition to being a good bank bonus, Novo is also a good business checking account. It has no monthly fees or minimum balance requirements and operates a good app and website. Indeed, it’s the business checking account I currently use for this blog. Check out my post on how to easily open a Novo account.
- Spiral ($50) – Spiral is a fintech bank that's currently offering new customers a $50 signup bonus after opening a free checking account with them. The Spiral referral bonus is especially good because it's a free checking account and doesn't require a direct deposit to earn the bonus. Here is my step-by-step guide on how to earn your Spiral Bank bonus.
- One Finance ($50) – One Finance is a fintech bank that’s currently offering a $50 signup bonus if you open an account using a One Finance referral link and have a direct deposit of $250 or more. This is a completely free bank account with no minimum balance requirement, so if you can meet the requirements, it’s worth doing. Check out my One Finance referral bonus guide here.
- Albert ($150) – If you can manage to do a real direct deposit, Albert is an easy account you can use to earn a referral bonus. Here’s a review about Albert I wrote. And here’s a step-by-step guide on how to earn your Albert referral bonus.
- Netspend ($20 + 5% Interest Savings Account) – Netspend is a company that provides 5% interest savings accounts. If you sign up using my referral link, you’ll get a $20 signup bonus once you make your first deposit into your Netspend account of $40 or more. That means you get a 5% interest savings account and a free $20 to start! Make sure to check out my in-depth guide on how to set up these accounts.
Kevin is an attorney and the blogger behind Financial Panther, a blog about personal finance, travel hacking, and side hustling using the gig economy. He paid off $87,000 worth of student loans in just 2.5 years by choosing not to live like a big shot lawyer.
Kevin is passionate about earning money using the gig economy and you can see all the ways he makes extra income every month in his side hustle reports.
Kevin is also big on using the latest fintech apps to improve his finances. Some of Kevin's favorite fintech apps include:
- SoFi Money. A really good checking account with absolutely no fees. You'll get a $25 referral bonus if you open a SoFi Money account with a referral link, and an additional $300 if you complete a direct deposit.
- Upgrade Bank. Upgrade is a free checking account that’s currently offering a $100 referral bonus if you open an account and complete three debit card transactions. These bonus terms are easy to meet, so it’s well worth doing this bonus as soon as you can. Note that it’s now scheduled to end on October 31, 2022.
- Novo Bank. Novo bank is a free business checking account that’s currently offering a $40 bonus if you open a Novo business checking account using a referral link. It’s the business checking account I currently use for this blog.
- M1 Finance. This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $10 for opening an account.
- Personal Capital. One of best free apps you can use to monitor your portfolio and track your net worth. This is one of the apps I use to track my financial accounts.
Feel free to send Kevin a message here.
I’ve been reading your posts for about a year and when I saw your post about this in the fall even the skeptic in me decided to give it a try. I followed your instructions to the letter, and though the points have not shown up yet in my SW account, I had Chase confirm that I had qualified on both cards last week. Companion Pass here I come!
Do you know if I have to keep the cards open for a certain period of time or can I cancel them?
Sweet! I’ve been there with being a skeptic when it comes to the travel hacking/credit card game. Companion Pass is a great way to dip your toes in the water! Sounds like a good two years of free flights or almost free flights for you.
I’d recommend keeping them open until at least next year when the annual fee comes due. Chase will refund your fees if you close/cancel the card within 30 days of when the fee posts, so wait until then before you do anything – you don’t want to mess up any potential relationship with Chase, so best to not make it look like you just signed up for the bonus and then dropped the cards as soon as you got it.
One thing to consider about both cards – the $99 annual fee card gives you 6,000 Southwest Points each cardmember anniversary. The $69 annual fee card gives you 3,000 points each year.
Southwest points can be valued at 1.5 cents per point, so in effect, those 6,000 points are worth $90 in Southwest flights. In effect, it’s like you’re paying $99 for $90 worth of flights, which, in effect, makes the annual fee really $9.
The $69 annual fee one, you only get 3,000 points each cardmember anniversary, so that’s more like the equivalent of 45 in flights, so that one is a little bit more of an effective annual fee, but still not a ton. Just worth thinking about.
So I guess my advice, wait until next year before you do anything. Just hold tight for now.
Thanks for the reply!
Applying for the Southwest cards was my intro into travel rewards. The Companion Pass was too good to pass up, and redeeming the points was straight forward (no blackouts, points never expire, can work for any flight). We got the Companion pass and have used it many times already to visit family. Portland, Denver, and Dallas are likely in our plans as well for the near future. This is a great rundown of how and why everyone should consider taking advantage of this awesome perk!
Thanks Matt – I’m really excited to get my travel on with this!
My companion pass comes in a couple short weeks! Such a great value!
Awesome! Your first one? I’m excited to try mine out!
Companion Pass is the best travel perk ever. Congrats man….
Thanks man. Already have some trips planned out with it!