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Families should adopt this Southwest Companion Pass strategy to potentially save thousands in travel, but time is running out to take advantage

Ready to shake off the cobwebs and start traveling with the family again? Here's the angle you need to save big money — but you'll have to act by March 14.

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Southwest Airlines.
The Southwest Companion Pass is rarely this easy to earn — and it's more useful than it's been in years.

The Southwest Companion Pass is one of the most powerful money-saving benefits in the travel world.

This golden travel ticket can help you achieve goals you've previously considered unrealistic, and it's now more useful than it's been in years. Disney World is dropping mask mandates for vaccinated travelers; coronavirus restrictions are disappearing from fun and popular areas (like Hawaii!); spring break impends.

The Companion Pass hasn't been this easy to earn in more than a year, thanks to current Southwest credit card bonuses (ending March 14, 2022):

  • Southwest Rapid Rewards® Plus Credit Card — Southwest Rapid Rewards® Plus Credit Card
  • Southwest Rapid Rewards® Premier Credit Card — Southwest Rapid Rewards® Premier Credit Card
  • Southwest Rapid Rewards® Priority Credit Card — Southwest Rapid Rewards® Priority Credit Card

From tropical getaways to Thanksgiving with faraway relatives, the Companion Pass can help you achieve nearly any bucket-list travel domestically and throughout Mexico, the Caribbean, and Central America.

And if you're a family of four or more, the Companion Pass has the potential to save you many thousands of dollars, depending on how often you use it. Here's how to do it.

Big families can save thousands with the Southwest Companion Pass

You've probably heard mention of airline credit cards that offer companion passes, such as the Delta SkyMiles® Platinum American Express Card. These card benefits can be extremely valuable, as they allow you to bring a travel buddy for cheap (usually just the cost of taxes and fees). But in every case, these companion passes are single-use. Once you redeem it, it's gone.

Read more: 10 airline credit cards that offer companion deals so you can bring along a friend for only taxes and fees

The Southwest Companion Pass is refreshingly different. Once you earn it, you've got a specific amount of time to use it (between one and two years, depending on when you earn it), and you can use it as many times as you want.

For example, the Southwest Rapid Rewards® Plus Credit Card comes with a Southwest Rapid Rewards® Plus Credit Card. From when you earn the pass until February 28, 2023, you could fly 100 times and bring a companion with you for just the cost of taxes and fees. The more you fly, the more you save.

If you and your partner are flying with two or more children, you could save a bundle by both opening a Southwest credit card to earn the Companion Pass. You can each designate a child as your companion and you'll have nearly a year of super cheap travel for spring break, summer and winter vacation, and all the holidays in between.

Read more: The Southwest Companion Pass get you nearly free travel with a buddy — here's how to earn this valuable perk

Plus, you and your partner will each earn 30,000 Southwest points after meeting the spending requirements. Insider estimates Southwest points value to be 1.4 cents each, making 30,000 points worth around $420 in flights. Combined, your family could book $1,680 in Southwest airfare before you'd have to begin paying for flights again:

  • Your family would have 60,000 points ($840 in flights)
  • Your family would have two Companion Passes, effectively doubling the value of your points (another $840 in flights)

Of course, you'd still have to pay taxes and fees for each flight, but those are only $5.60 one-way when flying domestically.

Earn a more valuable Southwest Companion Pass the "hard" way

Instead of earning the promotional pass through these credit card sign-up bonuses, you can instead earn a Companion Pass by earning 125,000 qualifying Southwest points in a calendar year. The benefit of earning it this way is that your pass will be valid through the year in which you earn it as well as the entire following calendar year.

Read more: The best Southwest credit cards of 2022

In other words, you'd receive a Companion Pass valid through December 31, 2023, instead of one that expires February 28, 2023.

The easiest way to do this is by earning the bonus on two Southwest credit cards. Unfortunately, you can only have one personal Southwest credit card at a time, and you won't qualify if you've earned the bonus from one in the past 24 months. 

There are a couple of ways to go about opening two Southwest cards.

Option 1. Open two small-business Southwest cards

There are two Southwest small-business cards:

  • Southwest® Rapid Rewards® Performance Business Credit Card — Southwest® Rapid Rewards® Performance Business Credit Card
  • Southwest® Rapid Rewards® Premier Business Credit CardSouthwest® Rapid Rewards® Premier Business Credit Card

By earning both card bonuses, you'll be swimming in 140,000 Southwest points. Not only will you earn a longer-lasting Companion Pass, but you'll have $1,960 worth of Southwest points.

Option 2. Open one personal and one small-business Southwest card

You could instead open one personal Southwest card and the Southwest® Rapid Rewards® Performance Business Credit Card.

Again, the Performance Business Card comes with Southwest® Rapid Rewards® Performance Business Credit Card. After earning both bonuses, you'd have 110,000 points, plus at least 10,000 points from spending on the card to reach the minimum spend requirement — just 5,000 points shy of a Companion Pass. But you'd also have earned a promotional Companion Pass from opening a personal Southwest card, so you could enjoy its benefits until you managed to earn the remaining 5,000 qualifying points in 2022.

Bottom line

Whether you've been itching to complete that postponed trip to Costa Rica, plan to visit grandma for the holidays, or simply want to shake off the cobwebs with an indiscriminate travel spree, the Southwest Companion Pass can be a huge help in cutting costs toward an inexpensive getaway.

Currently, all three Southwest personal credit cards are offering a Southwest Rapid Rewards® Plus Credit Card. If you travel with a family of four or more, this can translate to literally thousands in savings, depending on how frequently you fly Southwest.

Read the original article on Business Insider

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