You can now earn up to 100,000 Southwest points through credit card referrals
Update: Some offers mentioned below are no longer available. View the current offers here.
One of the easiest ways to earn extra travel rewards throughout the year is through referral bonuses. Many issuers offer bonuses for cardholders when a friend or family member signs up for the card through your referral link and is approved.
For Southwest cobranded cardholders, earning a referral bonus just got even more rewarding. Each friend successfully referred will earn you 20,000 bonus points through Jan. 4, 2022 – and you can earn up to 100,000 bonus points each year through referrals. That's up from 10,000 points per referral previously.
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According to TPG's valuations, an additional 100,000 points are worth $1,500.
You can refer a friend by logging in through Chase's refer-a-friend page for Southwest. It's important to note that rewards earned through referral bonuses are considered "miscellaneous income," so you'll likely receive a 1099 from Chase next tax season.
Similar to Amex's program, Southwest expanded its referral program so that cardholders can refer someone for any Southwest personal card or the Southwest Rapid Rewards Premier Business Credit Card, even if you don't hold that specific card.
Using Referral Bonuses to Earn a Companion Pass Faster
While the idea of earning an extra up to $1,500 worth of Southwest points might be enough to convince you to refer your friends and family for a new Southwest card, there's another benefit to participating in the referral program.
The bonus points you earn through referrals also count toward earning a Southwest Companion Pass, one of the most sought-after benefits available to flyers.
If you're planning on applying for either the Southwest Rapid Rewards Premier Business Credit Card or the Southwest Rapid Rewards Performance Business Credit Card, you can earn the Companion Pass benefit just by hitting the minimum spending requirements for the sign-up bonus and earning the max referral bonus.
The Premier Business offers a 60,000-point bonus after spending $3,000 on purchases in the first three months of account opening, and the Southwest Rapid Rewards Performance Business Credit Card offers an 80,000-point bonus after you spend $5,000 on purchases in the first three months of account opening.
Bottom line
Referring friends and family members for new cards is a win-win strategy. They'll get a new card with the potential to earn a great sign-up bonus, and you'll get a nice referral bonus if they're approved. Now that Southwest is increasing its bonus to 20,000 points per referral, cardholders should make the most out of this program offered by Southwest and Chase.
Related: The best Southwest Airlines credit cards in 2021
Additional reporting by Chris Dong.