I received an email from Southwest airlines offering bonus points for charges on my co-brand Visa card from Chase.
I thought it over and I’m not sure this is a great offer for most customers.
For this promo, I’d have to register and then spend a minimum of $2,000 between 3/1/2023 and 6/30/2023 to earn an additional 20% bonus.
The 20% bonus is in addition to the points you already earn with your Southwest Rapid Rewards Credit Card. The 20% bonus points will count towards Companion Pass® qualification, but will not count toward A-List or A-List Preferred qualification.
So if I was trying to get a Companion Pass this would be great.
But since I’m not using spend on a Southwest card to earn a Companion Pass. is it worth moving $2,000 of expenses to my Southwest card?
On average, I get around 1.3 cents value for each Southwest Rapid Rewards point.
The Southwest Priority card earns:
- 3 points per $1 spent on Southwest purchases
- 2 points per $1 spent on Rapid Rewards hotel and car rental partner purchases
- 2 points per $1 spent on local transit and commuting including rideshare
- 2 points per $1 spent on internet, cable, phone services and select streaming
- 1 point per $1 spent on all other purchases
I’d have to move non-bonused spending to the card to earn the bonus, which means I’d earn 2,400 points after spending $2,000. At a 1.3 cent per point valuation, I’d earn a 1.56% return on what I charge to the card after the bonus.
I already have several cards that earn a minimum of 2% cash back, and several that earn more in points, so this promo isn’t going to get me to move spending to my Southwest co-brand card. However, if you’re looking for extra points to earn a Companion Pass for 2023-2024, this will help you meet your goal.
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