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Open This Best Airline Credit Card to DOUBLE the Value of Your Chase Ultimate Rewards Points

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Open This Best Airline Credit Card to DOUBLE the Value of Your Chase Ultimate Rewards Points

Joseph HostetlerOpen This Best Airline Credit Card to DOUBLE the Value of Your Chase Ultimate Rewards PointsMillion Mile Secrets Team

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Let’s cut to the chase.  The best airline credit card offer comes courtesy of Southwest.

All 3 Southwest personal credit cards have spanking new limited-time offers until February 11, 2019.  You’ll earn 30,000 Southwest points and a Southwest Companion Pass after opening and meeting the spending requirements on:

The best part is that opening one of these credit cards can make your Chase Ultimate Rewards points worth 3+ cents each toward Southwest flights!

Southwest Flies to Lots of Fun and Beautiful Places, Like Grand Cayman!  The Limited-Time Offer on the Chase Southwest Cards Can Effectively Double the Value of Your Chase Ultimate Rewards Points If You Use Your Companion Pass

The Best Airline Credit Card Offer Doubles the Value of Your Chase Ultimate Rewards Points

You can use Chase Ultimate Rewards points to reserve flights in a few ways:

  • Redeem them for cash at a value of 1 cent each (DON’T DO THIS)
  • Redeem them through the Chase Portal at a value of between 1.25 cents and 1.5 cents each (depending on which card you have)
  • Convert them into airline miles by transferring them to airline partners and then reserving an award flight

Most often, the third option will save you the most money.

One of my (and the Million Mile Secrets team’s) favorite Chase transfer partner is Southwest.  Not only do they fly to tons of fun destinations all over the US and Caribbean (and Hawaii is coming soon!), but they also have UNHEARD-OF friendly policies, like:

  • Free flight changes and cancellations
  • 2 free checked bags
  • No blackout dates for award flights

Each Southwest point is generally worth at least 1.5 cents toward flights on Southwest (though I find I’m usually getting a value of ~1.8 cents)  So therefore, your Chase Ultimate Rewards points are worth at least 1.5 cents each when you transfer them to Southwest.

The Southwest Companion Pass Boosts Your Points Value

However, when you sign-up for one of the following cards and spend $4,000 on purchases in the first 3 months of account opening …

… you’ll earn 30,000 Southwest points AND the holy grail of free travel, a Southwest Companion Pass!  These offers are valid through February 11, 2019.

The Southwest Companion Pass you’ll earn allows a friend or family member to travel with you for just the cost of taxes and fees (~$6 one-way on domestic flights) whenever you travel on Southwest until the end of 2019.  It doesn’t matter if your flight is booked with points or paid for with cash – your companion flies for almost free.  Even if you fly every single day!

In other words, If you have a travel companion, your points will be worth twice as much!  Because you’re getting 2 tickets for the price of 1.  So when you transfer your Chase Ultimate Rewards points to Southwest, you’ll receive a value of ~3 cents per point (double the normal value of ~1.5 cents).

Receiving a value of 3 cents per point is really good.  To put it in context, here’s what you’ll earn with Chase Ultimate Rewards points earning cards:

  • Chase Sapphire Preferred® Card – For every $1 you spend on travel and dining, you’ll earn 2X Chase Ultimate Rewards points (effectively 6 cents in Southwest flights)
  • Chase Sapphire Reserve® – For every $1 you spend on travel and dining, you’ll earn 3X Chase Ultimate Rewards points (effectively 9 cents in Southwest flights)
  • Ink Business Preferred℠ Credit Card – For every $1 you spend (up to $150,000 per year in combined purchases) on travel, shipping purchases, internet, cable and phone services, advertising purchases made with social media sites, and search engines, you’ll earn 3X Chase Ultimate Rewards points (effectively 9 cents in Southwest flights)

Imagine an effective 9% return for your purchases!

Just understand that this math only works out if you use your points with Southwest.

Bottom Line

The Southwest Companion Pass lets you bring a travel buddy for free as often as you fly Southwest.  And you can earn a Companion Pass valid through the end of 2019 by opening any of the Chase Southwest personal credit cards and meeting minimum spending requirements.  That offer ends February 11, 2019.

You can transfer your Chase Ultimate Rewards points to Southwest at a 1:1 ratio.  Southwest points are generally worth at least 1.5 cents each toward Southwest flights.  So if you have a Companion Pass that allows you to bring a partner for just the cost of taxes and fees, you’re effectively doubling the value of your points!  Which means for every Chase Ultimate Rewards point you transfer to Southwest, you’re getting a value of ~3 cents.  That’s huge.

Let us know if you plan to earn the Southwest Companion Pass with this new offer from Chase and Southwest!

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Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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Great cards, but please mention they’re subject to Chase’s 5/24 rule. And at first blush, it’s not even clear they’re Chase cards.

How does it double the value of ultimate rewards points exactly? Companion flies free regardless of booking with points or cash, so… again, how? Please do explain.

They’re saying that if a revenue ticket is $225 or 15,000 points the companion pass allows you to get two tickets for the 15,000 points. And since you’re basically getting $450 of tickets for 15,000 points you are getting double the normal cpp (3 in my example). Since companion pass is essentially BOGO it doubles the purchasing power of whatever currency you’re using.