When talking about the Companion Pass, I often emphasize how important the timing of this is.

I'm dedicated this week's Bootcamp to explaining the "why" of the timing -- as well as offer some reminders.

Companion Pass Tracker Resets on January 1

This is the single more important factor for timing. Your Companion Pass Tracker looks something like this. You can find it when you're logged in to your Rapid Rewards account. This is an old screenshot so it only shows 125,000 points needed.

It shows you both your "Points Available" and the points you have earned towards the Companion Pass.

On January 1, 2024 you will have the same number of "Points Available" {unless you book a flight} BUT your Companion Pass progress (the bottom line) will reset to ZERO.

Why this matters

FIRST OFF - If you are earning the Companion Pass through opening credit cards and earning the sign up bonus, you don't want your bonus points to post in 2023. If your bonus points posted in December 2023, you would briefly see them on your Companion Pass tracker....and then on January 1, the tracker would reset to zero.

You want them to post to your Southwest account after January 1 so that you have all of 2024 to keep earning your Companion Pass.

SECONDLY - the amount of time you earn a Companion Pass is tied to when you earn it. Whenever you reach 135,000 points, you earn the Companion Pass for the rest of that year AS WELL AS the whole following year. That's why we emphasize earning early in the year! If you earn it in February 2024 you will have it the rest of 2024 and all of 2025!

Don't make this mistake

If you are trying to earn a Companion Pass for 2024-2025, you need to be absolutely sure your credit card bonus points do not post until January 2024.

Every year, there are people who accidentally earn their bonus in December.

Here are the best practices to avoid this mistake:

1. Know your statement closing date. You can find this info by looking at a previous statement, calling the bank, or looking at the bank app. Emblazon this date in your mind.
2. If your December statement will close on December 15 -- make absolute certain that you are not within $500 of the amount you need to spend to get your bonus.
3. When calculating how much you have spent, don't forget to take into account any items you have purchased and then returned. Though returns lower the overall spent on your card, the purchases are sometimes still counted towards your bonus.

After you have received your December statement, you are free to complete your spending to earn your bonus. You can also wait until January 1 to complete your spending if you want to be 100% safe.

One more timing consideration

You ALSO need to make sure you earn your bonus! You have 90 days from when your account was opened to earn your bonus. Make sure you finish your spending by this date.

Happy Travels,

Katie

PS: If you are ready to apply for a card, I appreciate it so much if you use my affiliate links to do so. It costs you $0 and allows me to keep creating free resources like this bootcamp. You can find all my affiliate links for these cards here. {Scroll down to find the business cards}

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PPS: I will be taking a few weeks off from these emails as I will be traveling to Japan with my family! I will be back with a few final emails in December!

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