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New Southwest Bank Bonus That Counts Towards The Companion Pass (Targeted)

Mark Ostermann
Mark Ostermann

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Southwest Bank Bonus

New Southwest Bank Bonus That Counts Towards The Companion Pass

Clayton, a moderator in our Facebook groups, received a very intriguing Southwest bank bonus offer. The thing that makes this intriguing is that this bank bonus counts towards the valuable Southwest Companion Pass.  If you were chasing the Companion Pass then this may be just what you need.  It appears to be targeted and is being sent out via email.

Details Of The Offer

The email subject line was: 

Hello: (NAME), we want to reward you with an up to 35,000 Southwest Rapid Rewards points offer.

Southwest Bank Bonus

There are 3 different offers available:
Option 1
For new Chase checking customers: Get 15,000 points as a Southwest Rapid Rewards Cardmember when you open a new Chase Total Checking® account and set up direct deposit.
Option 2
For new Chase savings customers: Get 15,000 points as a Southwest Rapid Rewards Cardmember when you open a new Chase SavingsSM account, deposit a total of $15,000 or more in new money within 30 days of coupon enrollment, and maintain a $15,000 balance for 90 days from coupon enrollment.
Option 3
Open a new Chase Total Checking and a Chase Savings account, and get 35,000 points when you open both at the same time and complete qualifying activities.

Final Thoughts

Chase will often have $500-$600 bonus for their combo checking and savings account offers.  You can usually get around 1.4 cents per Rapid Rewards point, even after the devaluation, which would put 35,000 points at a $490 valuation.  That is slightly below the cash offer. Because of that I would only take this offer if I needed the 35K in points to hit the Companion Pass. Otherwise I would take the superior cash offer.

I can’t remember seeing this offer before but it is good to see Chase mixing it up.  This is something Citi has done in the past with American Airlines.  Remember that you will get a 1099 for these points since it is a bank bonus.  Often times banks value the points at 1 cent each so you would come out a little ahead there versus the cash offer from that perspective.

Let me know if you also got this offer via email.  I am curious to see how widespread it is.

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

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Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Mark Ostermann
Mark Ostermann
Mark Ostermann is a father, husband and miles/points fanatic. He left the corporate world after starting a family in order to be a stay at home dad. Mark is constantly looking at ways to save money and stay within budget while also taking awesome vacations with his family. When he isn't caring for his family or taking a weekend trip, Mark is working towards his goal of visiting every Major League Baseball ballpark.

Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

3 COMMENTS

  1. […] New Southwest Bank Bonus That Counts Towards The Companion Pass (Targeted). – Over the years, it has become harder and harder to “earn” the Southwest Companion Pass without spending a bunch on your card, getting a new one, or flying a lot. Although this Chase bank account offer is targeted, it is a great way to get closer to earning the Companion Pass. […]

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