These are my top recommended credit cards for this month. Some have $450-550 annual fees waived exclusively for US military personnel.
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Limited time offer to earn the Southwest companion pass for the rest of 2019 with only one credit card. See details below!
Southwest offers their famous Companion Pass to military servicemembers (and the general public) if you fly 100 one-way flights or earn 110,000 Rapid Rewards points in one year. Points earned through Southwest branded credit cards (personal and business) count towards the 110,000 point goal.
Annual fees on all Chase Southwest personal cards (not business) are waived for military servicemembers. This is part of Chase's MLA policy.
The Companion Pass allows you to designate one person to fly with you for free* every time you fly Southwest. (*You only need to pay the security tax of $5.60 per one-way.) This includes points AND cash bookings!
Limited Time Offer Expires 11 Feb 2019
Updated 12 Jan 2019: Southwest is offering a Companion Pass tickets for the remainder of 2019 when you open any of their Chase Southwest credit cards. You must meet the minimum spending of $4000 in the first 3 months of opening the card.
Step 1: Sign up for any of the Southwest cards including Southwest Rapid Rewards Priority ($149 annual fee waived), Premier ($99 annual fee waived), or Plus ($69 annual fee waived). Note all annual fees are waived for military servicemembers.
Step 2: Spend $4000 in the first 3 months after opening the card. You will earn 30,000 Southwest Rapid Reward points, good for about $450 of flights. You will also earn a Companion Pass good until 31 Dec 2019.
If you even fly Southwest once per year, this could save you hundreds or potentially thousands of dollars. You can change your designated “Companion” 3 times per year, making this a very flexible benefit.
Here are the 3 cards that are offering this benefit. Military servicemembers should pick up the Southwest Rapid Rewards Priority card because the $149 annual fee is waived and it offers the most benefits.
Military spouses also get their annual fees waived on this card. If you have kids, it might make sense for both parents to get the card, earn the companion pass, and then designate a child each as your companion.
With 2 out of 4 family members flying for free, that will significantly drive down your vacation costs! Maybe you could take twice as many trips to visit the grandparents this year?
Transfer Chase UR Points to Southwest
A great way to boost your Southwest miles is by transferring Chase Ultimate Rewards points into your Southwest account. Note that this will not count towards your 110,000 mile minimum for the Companion Pass.
You can earn 50,000 Chase UR points with the Chase Sapphire Reserve card and top up your Rapid Rewards account. The Sapphire Reserve $450 annual fee is waived for military personnel and spouses.
50,000 Chase Points can become 50,000 Southwest Points, which should be able to buy you at least $750 worth of airfare. Multiply times 2 because your companion can fly for free with you and those 50,000 Chase points easily become worth $1500+ of Southwest airfare.
How to Earn a Southwest Companion Pass for almost 2 Years
One way of earning a Southwest Companion Pass is taking 100 one-way flights or earning 110,000 Southwest miles in one year. Points earned through Southwest credit cards count, but points transferred into Rapid Rewards from Chase Ultimate Rewards do not count towards the 110,000.
Once you earn 110k, you earn a Companion Pass good for the remainder of the year you earn the Pass PLUS the following year!
For example, if you open a personal and business Chase Southwest card in January 2019, earn the 110,000 points by February 2019, you will have a Companion Pass from March 2019 – 31 Dec 2020!
This is an insanely good deal. It's amazing more military servicemembers don't take advantage of it considering Chase waives all the annual fees on their personal cards, so you will only have to pay the annual fee on the business card.
The easiest way to earn the 110,000 points is signing up and meeting the minimum spend on a Southwest personal card and Southwest business credit card.
Sometimes the personal card offers a 50,000 point welcome bonus and the business card offers a 60,000 point. When that's the case, you have an easy path towards the Companion Pass.
Currently, the personal card offer is the limited time offer above.
- Click here to learn more about the Southwest Business card
- 60,000 point welcome bonus after $3000 spend in the first 3 months of opening
- $99 annual fee (not waived for military, because it's a business card)
- No foreign transaction fees
- 6000 bonus points on your Cardmember anniversary (annually)