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Million Mile Secrets reader Josh commented:
If I were to apply for both personal Southwest cards and my 1st statements, for example, closed on December 10, 2014, should I begin spending right after the December statement closes?
The next statement with all of my spending would close January 10, 2015, and my points would be deposited into my Southwest account in 2015.
Thus, my 110,000 points would be deposited in 2015, and my Companion Pass would be valid for 2015 and 2016. Does this make sense and is it a good strategy?
But you usually have to complete the minimum spending within 3 months from when you were approved for the card.
Southwest Credit Card
Link: Chase Southwest Premier (personal)
Link: Chase Southwest Premier (business)
Link: Chase Southwest Plus (personal)
Link: Chase Southwest Plus (business)
Josh wants to make sure that his Southwest points post (to his Southwest account) in 2015 instead of 2014. That’s because he will earn the Companion Pass for the whole of 2015 and 2016 as well.
Now is the best time for Josh to apply for the Southwest cards because all 4 versions of the Southwest cards are offering 50,000 Southwest points after spending $2,000 in the first 3 months.
Because the sign-up bonus counts towards earning the Companion Pass, Josh can earn a Companion Pass by meeting the minimum spending on 2 Southwest cards and earning an additional 6,000 Southwest points.
Because each of the Southwest cards are considered a different card product, Josh can get a personal and business card at the same time.
Josh can also get the sign-up bonus again if he’s had a Southwest card in the past IF it’s been over 24 months since he received the sign-up bonus.
Josh has to be careful with the timing of when his Southwest points post. His should time his Southwest points to post to his Southwest account in 2015 (and NOT in 2014), so he’ll earn a Companion Pass valid until the end of 2016.
If they post to his account in 2014, he will have to earn 110,000 points before December 31, 2014.
He should NOT complete the $2,000 minimum spending immediately, because his Southwest points will post to his account in 2014, and his Companion Pass will only be valid through the end of 2015.
If Josh finishes his minimum spending 5 to 10 days before his statement closes, the sign-up bonus will post to his account a few days after the statement closing date.
So if Josh completes his minimum spending AFTER his December 2014 statement closes or in January 2015, his 50,000 Southwest points sign-up bonus will post to his Southwest account in 2015.
However, if wants to be 100% sure that the points will post to his account in 2015, he can complete the minimum spending after January 1, 2015. That said, I would personally start spending on the cards after my statement closed on December 10, 2014.
Because all 4 Southwest cards are offering 50,000 Southwest points after completing the minimum spending, Josh can earn a Companion Pass if he earns 110,000 Southwest points in a calendar year.
So Josh should finish his minimum spending AFTER his December 2014 statement closes so his Southwest points post in 2015.