Act Fast! Why October is the Perfect Time to Apply for a Southwest Rapid Rewards Card

In the event you’re wanting to save cash on home journey, there’s no higher software than the Southwest Companion Cross. This in style journey hacking software is surprisingly attainable for many who don’t journey continuously as a result of the Southwest bank card welcome bonuses rely towards the 135,000-point requirement to earn the go. You possibly can earn a Companion Cross with simply two bank card purposes and be in your technique to having fun with two-for-one airfare for almost two years.

Between present Southwest card welcome bonuses and the time given to finish spending necessities, October is the perfect time to begin your journey towards incomes a Southwest Companion Cross — so the clock is ticking!

Right here’s why you must apply for a Southwest bank card now to get most use from this perk.

Southwest bank cards have elevated welcome presents

The Southwest private playing cards present welcome supply: earn 85,000 bonus factors after spending $3,000 on purchases within the first 3 months from account opening. In the meantime, the enterprise playing cards are providing totally different bonuses, however both enterprise card would assist you to meet the Companion Cross necessities:

• Southwest Speedy Rewards® Plus Credit score Card ($69 annual payment) — Earn 85,000 bonus factors after spending $3,000 on purchases within the first 3 months from account opening.
• Southwest Speedy Rewards® Premier Credit score Card* ($99 annual payment) — Earn 85,000 bonus factors after spending $3,000 on purchases within the first 3 months from account opening.
• Southwest Speedy Rewards® Precedence Credit score Card ($149 annual payment) — Earn 85,000 bonus factors after spending $3,000 on purchases within the first 3 months from account opening.
• Southwest® Speedy Rewards® Premier Enterprise Credit score Card ($99 annual payment) — Earn 60,000 factors after you spend $3,000 on purchases within the first three months from account opening.
• Southwest Speedy Rewards® Efficiency Enterprise Credit score Card ($199 annual payment) — Earn 80,000 factors after you spend $5,000 on purchases within the first three months from account opening.

To earn the 135,000 factors wanted for the Companion Cross, you’ll have to be accepted for after which earn the welcome bonuses of only one private and one enterprise card, given these present bonuses.

Previous spending necessities to earn welcome bonuses have been increased on Southwest playing cards, making the Companion Cross much less attainable. However since you possibly can earn the welcome bonuses with a mixed spending of $6,000 in three months, now is a superb time to use.

Potential hurdles to keep away from

Earlier than making use of for any Southwest bank cards, do not forget that Chase has a number of utility guidelines which will affect eligibility. You’re not eligible for a Southwest card when you’ve utilized for 5 bank cards within the final 24 months. And when you obtained a welcome bonus within the final 24 months, you gained’t be accepted for an additional one.

Additionally, you’re solely allowed to have one of many private bank card choices, so if you have already got one, you probably gained’t be accepted for an additional. Nevertheless, you may maintain one among every enterprise bank card. Southwest enterprise playing cards aren’t affected by private card limitations and aren’t topic to Chase’s “5/24 Rule.”

Lastly, you may’t purchase or switch factors to earn a Companion Cross. Any factors you buy instantly from Southwest or factors you switch from Chase Final Rewards gained’t rely towards your eligibility.

You may have three months to satisfy spending necessities and earn the Companion Cross

January is the perfect time to earn the Southwest Companion Cross. The Southwest Companion Cross is legitimate by way of the top of the calendar yr following the yr during which it was earned. So, it’s necessary to notice that your progress towards incomes the Companion Cross resets on January 1.

However what does that imply? For the reason that Southwest playing cards provide you with three months to finish the spending necessities, October is the very best time to use. You’ll full the spend and qualify for the Companion Cross in January, which is probably the most opportune time. Let’s discover how the timing of if you earn the go is essential:

time incomes your Companion Cross

Welcome bonuses are one of many best methods to earn the Companion Cross however watch out to not earn your welcome bonuses earlier than January. You possibly can spend a few of your welcome bonus spending requirement now however completely wait till January to complete off that final greenback of spending. The Companion Cross is legitimate by way of the top of the next calendar yr of which it was earned. That is VERY necessary.

For instance, when you end your spending on December 10 and your assertion closes on December 22, your bonus factors will put up in 2024, that means you’ll solely have the Companion Cross by way of the top of 2025. Nevertheless, when you wait to complete your spending when your assertion closes in January, your bonus factors will put up initially of 2025, and your Companion Cross can be legitimate for nearly two full years till the top of 2026.

October is the proper time to choose the playing cards up for the reason that three months it’s a must to earn your spending bonus will carry into January. Nevertheless, the rationale you need to apply now as an alternative of nearer to the top of the yr is the welcome bonuses are elevated for a restricted time solely (till October 9, 2024).

In the event you had been to get a private and enterprise card whereas the bonuses had been elevated, these alone could be sufficient to go the 135,000-point threshold wanted to earn the Companion Cross. In the event you wait till the supply ends, the decrease bonuses probably gained’t be sufficient to go that threshold.

Vacation procuring season is beginning

Assembly bank card spending necessities could be difficult. The most effective strategy is to cost all of your bills to your bank card. The vacation procuring season begins earlier yearly, making this feat simpler.

Even when you’re not shopping for vacation presents in October, you have got loads of alternatives to knock out further bank card spending. Throughout this time of yr, folks spend extra money on items, decorations, meals, donations and journey. You may additionally see if you will get reductions on membership charges or month-to-month dues for locations you frequent in full for the yr. It’s a terrific alternative to channel that further spending towards a Southwest bank card. You’ll rack up the required spending to earn the welcome bonuses and, due to this fact, a Companion Cross extra rapidly. Plus, you’ll have loads of factors to make use of for journey subsequent yr. It’s a win-win-win.

Whereas assembly spending necessities and incomes rewards is nice, you need to be conscious of avoiding debt throughout the holidays. That’s a simple lure to fall into this time of yr when overspending is tempting. In the event you’re nervous about spending greater than you may afford, take into account setting a price range for your self after which overpaying your bank card by that quantity. When your credit score steadiness reaches zero, you may cease utilizing the cardboard for brand new purchases and as an alternative use it to auto-pay utilities and recurring bills.

You may earn the welcome bonus in time for vacation journey

Whereas January is the perfect time to earn the Companion Cross, Southwest factors are helpful year-round. In the event you aren’t involved about maximizing your time with a Companion Cross, you possibly can select to finish your bank card spending necessities as quickly as potential. Whereas this isn’t the perfect use of those playing cards, you’ll have a Companion Cross by way of 2025 and might use the welcome bonuses from the Southwest playing cards to save lots of on vacation journey this yr if you actually need it.

Whether or not you’re touring over the December holidays or planning a household trip for winter break, having some further Southwest factors can go a good distance. Southwest Speedy Rewards are price round 1.5 cents towards airfare, based on Bankrate’s valuations.

The underside line

Southwest’s Speedy Rewards program is in style for a purpose. In the event you’ve had your eye on the Southwest Companion Cross and need to make this airline a go-to for 2025 (and 2026!) rewards journey, there’s no higher time to make your transfer than proper now. You possibly can qualify with two Southwest bank card bonuses and can have important rewards after finishing your spending. Pair that with the two-for-one deal on airfare, and also you’ll have loads of alternatives to journey for the following couple of years (when you time it appropriately) — for very near nothing.

*The details about the Southwest Speedy Rewards® Premier Credit score Card has been collected independently by Bankrate.com. The cardboard particulars haven’t been reviewed or accepted by the cardboard issuer.