How The Southwest Bonus Offer Increase Plays Into Our Plan

 

Chase just announced an increased offer on the Southwest personal credit cards....all of them. The offer is 75,000 points for a $3,000 minimum spend. The offer is valid on the plus, the premier and the priority cards. We will talk about the difference a bit later when we are ready to apply.  

So how does this increased offer play into our strategy to earn the Southwest Companion Pass? The Companion Pass is the best travel perk in the industry. It allows you BOGO on any Southwest flight for up to two years. You can change your companion three times per year. 

How The Southwest Bonus Offer Increase Plays Into Our Plan

If you are following along with me, you have not applied for your cards yet. We cancelled our old Southwest Personal Card in October and are waiting 30 days before we apply for a new one. Since we do not want to reach our minimum spend until after our December closing date or January 1st, we have time. However, we will apply soon so we can put all of that holiday shopping on the cards. 

Remember, you can only hold one personal credit card at a time and you need to wait 30 days between cancelling and applying for the new one. You also have to wait at least 24 months between bonuses. 

So how does this increased offer affect our strategy? It doesn't. 

After the 30 day waiting period, we will apply for one personal credit card and one business credit card. 

I usually apply for both at the same time. 

How The Southwest Bonus Offer Increase Plays Into Our Plan

Under the old offer, we would get 50,000 points for a $1,000 minimum spend for the personal credit card and either 60,000 points for a $3,000 minimum spend OR 80,000 points for a $5,000 minimum spend. So we would be looking at 110,000 bonus points or 130,000 bonus points and a $4,000 minimum spend or $6,000 minimum spend respectively. 

Under this new offer, we will get 75,000 bonus points for a $3,000 minimum spend for the personal credit card and the same for the business cards. So that means if you go for a personal credit card with a $3,000 minimum spend and the 60,000 bonus point business card, you are looking at a $6,000 minimum spend. If you go for the 80,000 bonus point business card, you are looking at $8,000 minimum spend. 

So yes, you may be in for a bit more spend, but you will get 25,000 more bonus points which means FREE travel. And with the increased offer, any personal card and any business card earn the companion pass. 

If the increased minimum spend is overwhelming or out of your reach, Southwest has posted an end date for the new offer of December 5th. You can just wait until that date passes and jump on the new decreased offer which will most likely carry a lower minimum spend. My referral link also seems to still be pointing to the old offer so you may be able to get in on that one for a few more days.  If your 30 day waiting period has passed and you prefer the old offer, go ahead and apply. Just DON'T reach the minimum spend before January 1st or before your December statement closes. 

So the increased offer really doesn't affect our strategy at all. Stay the course and be patient. And hold off making any big purchases!