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I used the 50,000 bonus sign up for the Southwest Plus and Southwest Premiere cards. I hit companion status this week.

Is there any advantage to keeping both cards? I will probably keep the Premiere card ($99) and cancel the Plus ($69) card. 
(Actually, for non-SW purchases, I was thinking of going back to my Barclay card)

Any advantage to keeping both SW cards? Is the Plus the one to cancel?

Actually, how can I decide whether to use my SW or Barclay card? I fly a fair amount.

Thanks.

 

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Barclays arrival+ lost a lot of its shine with the changes to requiring a $100 min on rewards. To cash out my remaining points I had to book a refundable hotel, redeem my points, than cancel the hotel. More hoops than I want to jump through.

How often do you fly southwest? To earn the CP you should have a large amount of miles stored up. Do you already have enough miles to cover all of your flights through Dec 2017? Do you have any UR earning cards with Chase? Ink? Sapphire? Freedom? Are you over the 5/24 limit with chase?

If you already have a sapphire/ink card, or can qualify for one, I would use that to earn southwest points, over just using the southwest card. Having UR points stock piled gives you a lot more flexibility. You can instantly transfer them to southwest if you need them, or you can use them to book hotels. You also will earn them at the same rate, or higher if you spend in the bonus categories. Outside of the signup bonus, there really is no reason to put much spend on the Southwest card imo.

daw4888 said:   How often do you fly southwest? To earn the CP you should have a large amount of miles stored up. Do you already have enough miles to cover all of your flights through Dec 2017? Do you have any UR earning cards with Chase? Ink? Sapphire? Freedom? Are you over the 5/24 limit with chase?

If you already have a sapphire/ink card, or can qualify for one, I would use that to earn southwest points, over just using the southwest card. Having UR points stock piled gives you a lot more flexibility. You can instantly transfer them to southwest if you need them, or you can use them to book hotels. You also will earn them at the same rate, or higher if you spend in the bonus categories. Outside of the signup bonus, there really is no reason to put much spend on the Southwest card imo.

  Point transfers from UR don't count towards companion pass, unless you pass them through Marriott, for a ~2:1 loss.
You don't earn CP from using points to purchase flights either, you mostly only get it from flying on $$$, spending on the SW credit cards, or spending through their portal. (there's some other edge cases like Marriott transfers I already mentioned, which at least used to count).  So, switching to UR would not be helpful at all in maintaining companion pass.

Anyways, directed at OP:  I have noticed a small benefit my Chase SW personal and Bus card both have offered the best balance transfer terms, but I don't know if that's random or because they're SW cards.  (constantly have a 0% for 12-16 months with only 2% transfer fee offer in both those cards)  Since the rewards on the cards otherwise are worthless for me (I'd rather just get UR from CSP/Ink, since I don't need companion pass), works out best on those cards for that reason too since you can't put purchases on cards with BTs because you lose grace period.

If you are planning to churn them for CP in future years, it's probably best to close at least one of them since the AF doesn't come anywhere near breaking even on the Plus and doesn't break even on premier either.   Of course churning is made more difficult by the 5/24 rule at chase.  I still have mine both open from ~5years ago, but then I have no companion and only used the CP for 1 free flight when I had it....  It used to be the $99 fee on premier provided ~$100 in WGA flights worth of points ($6000 pts), but not anymore after the multiple point devaluations -- Now you probably only get ~$60-80 in flights on anniversary for the $99 fee.

No harm in hanging on to them until shortly before your one-year anniversary to keep your options open and make that decision then. For example, if you're just a few miles short of a ticket the annual fee might be worth it for the points.

The chase clock (assuming you are under 5/24 at the time) starts from when you last received the bonus. Citi's are from when you last opened or closed the account. At least, currently they are that way....

Thanks everyone. I have a lot to learn (5/24, churning, ultimate rewards, etc.).

I do not have a Chase Sapphire card. The only cards I have are the two Southwest cards (Plus and Premiere) and the Barclay Arrival+.
About $10K/month goes on the cards in total.

I fly SW 1-2x/month. I've already booked four flights with the companion pass in the next two months. I live near a SW airport (Midway), so I don't normally fly any other airline.
I've already spent down 75% of the points I used to get the companion pass.

About 50% of my travel is for work, 50% for family activities.

Thanks for the info. There's a lot to think about here.

I wouldn't reccomend spending on the Southwest cards without carefully considering other options. Not counting the value of the companion pass requalification, you're going to get a max value of ~1.4% in Southwest travel vs. the alternatives of other cards that give 2% cash, etc. The "what card should I put XYZ spend on?" has been covered in other threads.



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