Earn 60K Southwest Points With These New Sign-Up Bonuses

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Chase has just announced the biggest sign-up bonuses I ever recall seeing on their co-branded Southwest cards. Specifically, the Southwest Rapid Rewards® Premier Credit Card and Southwest Rapid Rewards® Plus Credit Card are offering bonuses of up to 60,000 Rapid Rewards points upon completing minimum spend.

Increased Southwest Card sign-up bonus details

The basic details of these increased offers are as follows:

Southwest Rapid Rewards Premier Card

  • Earn 60,000 bonus Rapid Rewards points after spending $2,000 within three months
  • $99 annual fee
  • Receive 6,000 bonus points on your cardmember anniversary every year

Southwest Rapid Rewards Plus Card

  • Earn 60,000 bonus Rapid Rewards points after spending $2,000 within three months
  • $69 annual fee
  • Receive 3,000 bonus points on your cardmember anniversary every year

Who is eligible for these increased Southwest offers?

You can potentially pick up both of these cards, though the bonuses aren’t available to those who currently have the card, or those who have received a new cardmember bonus on the card in the past 24 months.

Furthermore, do note that these cards are subjected to Chase’s 5/24 rule, meaning you generally wouldn’t be eligible for these cards if you’ve opened more than five new card accounts in the past 24 months.

If you’re looking for rewarding Chase cards that aren’t subjected to Chase’s 5/24 rule, consider products like The Hyatt Credit CardIHG® Rewards Club Select Credit CardBritish Airways Visa Signature® Card, etc. These cards are extremely rewarding, and you can be approved even if you’ve opened more than five new card accounts in the past 24 months.

How much travel will 60,000 Southwest points get you?

Southwest Rapid Rewards is a revenue based frequent flyer program, meaning that the number of points required for a redemption is directly correlated to how much a ticket would cost in cash.

While the exact value per point isn’t consistent, the best values will always be available on “Wanna Get Away” fares, which are Southwest’s cheapest fares. To give an example, below is a Baltimore to Los Angeles flight that costs 10,367 Rapid Rewards points plus $5.60 in taxes.

Meanwhile a cash ticket on that flight would cost $169.

That means you’re getting ~1.6 cents of value per Rapid Rewards points. The exact value will vary based on the redemption. Furthermore, when calculating the per point value, you’ll want to consider the points you’re forgoing by booking an award ticket.

On a “Wanna Get Away” fare you’d ordinarily earn six points per dollar spent, so if you value those at ~1.5 cents each, you’re forgoing roughly a 10% return by booking an award ticket. That means you’re getting roughly 1.5 cents of value per point.

If you’re looking for an even easier redemption, you can redeem your Southwest points for gift cards for a variety of retailers, the most generally useful of which is probably Amazon. So you can redeem 5,000 points for a $50 gift card, meaning that 60,000 points will get you a $600 gift card. This isn’t necessarily the most efficient use of Southwest points, but it’s something that should work for just about everyone, and shows the versatility of Southwest points.

Southwest-Gift-Card

These sign-up bonuses will help you earn Companion Pass

The Southwest Companion Pass lets you take a companion with you for free whenever you fly. It doesn’t matter whether you’re on an award ticket or revenue ticket, you can always have someone fly with you just for the cost of taxes. It’s an incredible, one-of-a-kind deal.

You can use it an unlimited number of times, though can only change your designated companion at most a couple of times per year (so you can’t have a different companion on every trip).

There are two ways to earn Companion Pass, and that’s either by taking 100 flights on Southwest in a calendar year, or by earning 110,000 Rapid Rewards points in a calendar year.

Points earned through the Southwest Rapid Rewards Premier Card and Southwest Rapid Rewards Plus Card count towards that requirement. So if you picked up both cards, you’d earn Companion Pass after completing minimum spend, which is awesome.

flying-to-havana-10

Bottom line

The increased sign-up bonuses on the Southwest Rapid Rewards Premier Card and Southwest Rapid Rewards Plus Card are the best I ever recall seeing. If you’re eligible for these cards and get value out of travel on Southwest, I’d seriously consider them. At a minimum, 60,000 Southwest points can be redeemed for $600 worth of Amazon gift cards, or otherwise for ~$1,000 worth of travel on Southwest. Getting these two cards could also get you all the way to Southwest Companion Pass.

If you’ve opened more than five new accounts in the past 24 months, though, I’d instead consider another lucrative Chase card, like The Hyatt Credit CardIHG® Rewards Club Select Credit Card, or British Airways Visa Signature® Card.

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Comments

  1. @Lucky I’ve had the Rapid Rewards Premiere Card for over 24 months. If I cancelled that card and signed up for both of these offers and completed the spend would I get companion pass? Is there a probation period or anything after cancelling my current card?

  2. @Dsent24. You will not be eligible for a new card under that scenario. You need to have canceled it for 24 months.

  3. @Jo But I have heard of people consistently having the companion pass by signing up for the personal card and business card when those both had 50k sign up bonuses. They would do this in January and then cancel after their nearly 2 years of companion pass status. Then re-sign up a couple months later. That doesn’t work?

  4. when is the hilton/amazon benefit happening? I have hilton points I know I can’t use so some gift cards would be fine. They said spring but……

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