Southwest Airlines and Chase have launched a limited-time credit card promotion that hands new cardholders one of U.S. aviation’s most coveted perks: the Southwest Companion Pass, plus up to 40,000 Rapid Rewards points, just for opening and using an eligible personal credit card. For travelers who can meet the spending requirements and are willing to concentrate their domestic flying on Southwest, the offer could translate into hundreds of dollars in savings on airfare through early 2027.
Limited-time promotion targets leisure travelers ahead of spring and summer
The current Southwest personal card promotion arrives as airlines jostle for price-sensitive leisure travelers heading into the busy spring and summer travel seasons. Announced in early February, the offer allows new applicants for any of Southwest’s three consumer credit cards issued by Chase to earn a promotional Companion Pass along with a stash of Rapid Rewards points by hitting spending thresholds in the first three months of card membership.
Under the deal, successful applicants receive a Companion Pass valid through February 28, 2027 once they complete the minimum qualifying spend. During that period, they can designate one companion to fly on the same Southwest-operated flights for only the cost of taxes and fees, starting at 5.60 dollars each way. The promotion runs for a limited window, with applications and spending requirements needing to be completed by dates spelled out in card terms, and industry analysts expect a surge of interest from frequent Southwest loyalists and budget-minded families.
The timing is notable. Coming just after Southwest wrapped up a separate flight-based Companion Pass promotion that required travelers to fly a set number of segments, the card-based offer shifts the focus back to consumers with the credit profile and planned spending to qualify for a substantial welcome package. It also underscores how reliant U.S. airlines have become on lucrative co-branded credit card partnerships to drive customer loyalty and revenue.
How the Companion Pass credit card offer works
Normally, earning a standard Southwest Companion Pass requires a member to accrue 135,000 qualifying Rapid Rewards points or complete 100 qualifying one-way flights in a calendar year. That bar is high enough that the pass is usually reserved for heavy business travelers, dedicated Southwest fans or sophisticated points collectors who carefully stack card bonuses and flight activity.
The current promotion bypasses that usual grind. Instead of requiring six figures of points, Southwest is attaching a time-limited Companion Pass directly to the welcome offers on its three personal credit cards. Once a new cardholder is approved and meets the spending requirement within the first three months, the pass is awarded and remains valid through February 28, 2027, regardless of how much additional flying or spending they do in 2026.
In parallel, cardholders earn a chunk of Rapid Rewards points that post to their account after qualifying spend. These points can be redeemed for Southwest-operated flights and, unlike many airline programs, the value tends to track the underlying cash price of a ticket quite closely. Independent valuations peg Rapid Rewards points at roughly 1.3 cents each, giving the bonus points component of this promotion a tangible, cash-like appeal for travelers shopping for trips later in 2026 and early 2027.
Travel experts say the combined value of a nearly year-long Companion Pass and tens of thousands of points can easily exceed 1,000 dollars in realized savings for a household that flies Southwest multiple times, especially on popular vacation routes where cash fares remain elevated.
Breakdown of offers across the three Southwest personal cards
The promotion applies to all three Chase-issued Southwest consumer cards: the Southwest Rapid Rewards Plus Credit Card, the Southwest Rapid Rewards Premier Credit Card and the Southwest Rapid Rewards Priority Credit Card. While each card now carries an identical core perk, the Companion Pass through February 28, 2027, the bonus point amounts and spending thresholds rise in tiers.
At the entry level, the Southwest Rapid Rewards Plus Credit Card offers a Companion Pass valid through February 28, 2027 and 20,000 bonus points after the cardholder spends 3,000 dollars on purchases in the first three months. The Plus card carries the lowest annual fee of the three and is often marketed toward infrequent Southwest flyers who still want free checked bags and basic earning benefits.
The mid-tier Southwest Rapid Rewards Premier Credit Card elevates the package to a Companion Pass and 30,000 points after 4,000 dollars in spending within three months. The Premier version typically charges a higher annual fee than the Plus card but provides additional benefits such as tier-qualifying points toward elite A-List status and no foreign transaction fees, targeting customers who expect to fly Southwest several times a year.
At the top of the lineup, the Southwest Rapid Rewards Priority Credit Card now leads with the richest welcome bonus: a Companion Pass valid through February 28, 2027 and 40,000 Rapid Rewards points after 5,000 dollars in purchases during the first three months from account opening. The Priority card carries the highest annual fee, but it layers on perks including an annual Southwest travel credit, upgraded boardings when available and a larger anniversary points deposit, making it the flagship product for the airline’s most committed customers.
Potential value: free second ticket and hundreds of dollars in points
Analysts point out that the headline Companion Pass benefit can be worth significantly more than the points themselves. Because the pass can be used on any paid or points redemption ticket operated by Southwest, and because there is no official cap on its use during the validity window, a traveler could theoretically bring the same companion on dozens of trips through the end of February 2027 while paying only mandatory taxes and fees.
For a family that typically books two or more domestic round trips per year, the savings can add up quickly. One scenario often cited by travel strategists involves a couple planning three round trips over the coming year: a spring getaway, a summer beach vacation and a holiday visit to relatives. If each round trip would normally cost 350 dollars per person, the Companion Pass effectively reduces the total ticket cost for the second passenger to only the government taxes on each segment, cutting the overall flight bill by hundreds of dollars.
The Rapid Rewards points component adds further value. Using the commonly referenced 1.3 cents per point estimate, 20,000 points on the Plus card equate to roughly 260 dollars in flight value, 30,000 points on the Premier card to about 390 dollars and 40,000 points on the Priority card to approximately 520 dollars. Depending on route and timing, savvy travelers may be able to stretch those points even further by booking lower-fare Wanna Get Away or promotional fares.
Because Southwest redemptions include the ability to cancel flights without traditional change fees and to redeposit points if plans change, some cardholders may view the bonus points as a flexible hedge against volatile airfare pricing later in 2026.
Key restrictions, eligibility rules and fine print
Despite the headline appeal, the promotion comes with several important conditions. First, the offer is only available to new cardholders who have not received a welcome bonus on the same Southwest consumer card in the past 24 months and who do not currently hold another personal Southwest Rapid Rewards card from Chase, subject to the issuer’s standard application and credit approval rules. Existing cardholders looking to upgrade or downgrade between products are generally not eligible for the new cardmember bonus and promotional Companion Pass.
The required spending must be completed within the first three months from account opening, calculated from the date the new account is approved rather than when the card physically arrives in the mail. Industry reports and issuer disclosures indicate that both the bonus points and the promotional Companion Pass typically post a few weeks after the statement cycle in which the qualifying spend is reached, leaving a short delay before cardholders can begin booking trips with their designated companion.
The promotional Companion Pass earned through the credit card offer is fixed to an expiration date of February 28, 2027, regardless of when the spending requirement is met. Travelers who earn a standard Companion Pass separately by reaching 135,000 qualifying points or 100 one-way flights in 2026 could see that longer-duration pass supersede the promotional version, extending their companion flying privilege through December 31, 2027 under normal program rules.
Cardholders should also note that, while the companion flies free of base airfare, they remain responsible for all applicable taxes, fees and other government or airport-imposed charges on the second ticket. These start at 5.60 dollars one way on domestic itineraries but can be significantly higher on certain international routes, particularly where local departure or tourism taxes apply.
How this fits into Southwest’s broader loyalty and credit card strategy
The aggressive Companion Pass offer reflects the increasingly central role of co-branded cards in airline business models. Southwest’s partnership with Chase has long been one of its most important revenue pillars, with card portfolios generating steady fee and interest income as well as a reliable stream of mileage purchases by the bank. In turn, generous welcome offers help the airline acquire new Rapid Rewards members and deepen their engagement with the brand.
By attaching a nearly year-long Companion Pass to the first few thousand dollars of card spending, Southwest is betting that new customers will quickly see tangible value in consolidating their domestic travel with the carrier. The pass not only incentivizes repeat bookings but also effectively turns cardholders into ambassadors, since every trip with a designated partner or family member becomes a demonstration of what the program can deliver.
The move also arrives at a moment when airlines are recalibrating how they reward loyalty. Across the industry, elite status has grown more tightly linked to credit card spend and ancillary purchases rather than miles flown. In Southwest’s case, the card portfolio already contributes qualifying points toward its A-List elite tiers, and the new promotion may nudge more travelers to shift everyday purchases onto a Rapid Rewards card to unlock future benefits beyond the promotional window.
For Chase, the richer sign-up package could draw applications from consumers who might otherwise pursue competing travel cards. While the Southwest cards are more specialized than general travel products that earn transferable points, pairing a Companion Pass with a substantial chunk of airline-specific currency may prove compelling to households whose travel patterns match the carrier’s route network.
Who stands to benefit most from the Companion Pass and 40,000-point offer
Travel experts say the clearest winners in this promotion are couples, families and close friends who regularly travel together on routes where Southwest has strong coverage. A parent and child flying repeatedly between a home base and a college town, or partners who make several trips a year to the same vacation destination, are likely to reap the largest savings from an extended Companion Pass.
Residents of Southwest focus cities and hubs such as Dallas, Denver, Phoenix, Chicago and Las Vegas may find it particularly easy to maximize the benefit, given the dense schedules and multiple daily departures on popular leisure routes. In contrast, travelers who live in smaller markets with limited Southwest service, or who frequently travel internationally on carriers outside the airline’s network, may struggle to capture the full potential value.
Those considering the top-tier Priority card with the 40,000-point bonus are typically advised to weigh the richer welcome offer and ongoing benefits against the higher annual fee and larger spending requirement. Frequent Southwest flyers who already budget thousands of dollars over a few months on airfare, dining and everyday purchases may find it straightforward to hit the 5,000 dollar threshold and unlock both the Companion Pass and the upper-end points haul.
Financial planners caution that, as with any credit card promotion, the offer only makes sense for consumers who can reliably pay off their balances in full each month. Interest charges at typical travel card rates can quickly erode the value of even the most generous sign-up bonuses if cardholders carry debt to finance the required spending.
What travelers should watch for as the offer window progresses
With the promotion already live and scheduled to run for a defined period, prospective applicants face a decision that balances timing, spending capacity and travel plans. Those who anticipate significant expenses in the coming weeks, such as tax bills, home projects or existing travel bookings, may find it sensible to apply sooner so that these outlays can count toward the minimum spend.
Travelers who already had Southwest trips in mind for late 2026 or early 2027 could see outsized value by aligning their booking calendar with the Companion Pass validity window. Because the pass can be used an unlimited number of times until February 28, 2027, some cardholders may opt to cluster family visits and getaways within that period to make the most of the benefit. Others may focus on more expensive or longer-haul routes, where duplicating a ticket for a companion would normally be cost prohibitive.
Industry observers will be watching how aggressively Southwest and Chase market the promotion in coming weeks, and whether the airline follows past practice by rotating to different forms of card-linked bonuses once this Companion Pass window closes. For now, the combination of a nearly year-long two-for-one flight perk and up to 40,000 Rapid Rewards points represents one of the richest publicly available welcome offers the airline has put forward for its consumer credit card lineup.