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Update: This offer is no longer available. View the current offer for the Chase Southwest Rapid Rewards Premier credit card here.
TPG Twitter follower Holliday is looking to qualify for the Southwest Companion Pass, but wants to use his Chase Ultimate Rewards points to do so:
“@thepointsguy to meet the Companion Pass requirement of 110,000 points, can I transfer Ultimate Rewards points to my Southwest Rapid Rewards account?”
Unfortunately Chase Ultimate Rewards point transfers do not count towards the Southwest Companion Pass 110,000-point qualification threshold, so what you earn on your Chase Sapphire Preferred® Card, Ink Bold and Ink Plus cards is pretty much redeemable only for travel when it comes to transferring them to Southwest.
The good news is, there are plenty of other ways to earn the points you need to qualify for the Companion Pass, which you can read about here.
Using Ultimate Rewards, you could transfer 200,000 to Hyatt and from there transfer them into 120,000 Southwest Rapid Rewards points, which would instantly qualify you for the Companion Pass and then you could redeem those 120,000 points for ~$2,160 in Wanna Get Away fares. When you factor in the free companion ticket on all of those fares, you’re essentially getting $4,320 worth of Wanna Get Away fares- plus the Companion Pass for all of 2013 and 2014 so you even get free tickets when you pay for tickets with cash. Ultimate Rewards points are valuable, but if you’re getting $4,320 for 200,000 points, that is over 2.1 cents per point plus the value of the Companion Ticket, which could easily be worth thousands more depending on how much you fly.
Back in July, the easiest way to earn these points was by hopping on the 50,000-point sign-up bonuses (when you pent $2,000 in 3 months) for the Southwest Rapid Rewards Plus Personal and Business versions as well as the Southwest Rapid Rewards Premier Personal and Business cards, which were available until August 6. Each sign-up bonus will get you almost halfway to qualification, and if you get two cards at once, which is entirely possible, you are almost all the way there.
Let me just say again, because I’ve been answering this question pretty much hourly since these Companion Pass posts came out – no, transferring Ultimate Rewards points to your Rapid Rewards account will not count towards your Companion Pass qualification. Even after the introduction of the Chase Sapphire Reserve, the Chase Sapphire Preferred is still a fantastic choice if you want to avoid the Reserve’s $450 annual fee, earn 2x on all travel & dining and earn a 50,000 point sign up bonus.
Even after the introduction of the Chase Sapphire Reserve, the Chase Sapphire Preferred is still a fantastic choice if you want to avoid the Reserve’s $450 annual fee, earn 2x on all travel & dining and earn a 50,000 point sign up bonus.