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I posted yesterday that the Chase Southwest Airlines credit card sign-up bonus is still counting towards the Southwest Companion Pass, so I figured I would continue on today with another Southwest update. This time the news isn’t quite as cheery. The first part of the update (which is actually good news) is that Southwest is now an official Ultimate Rewards transfer partner. For those who aren’t familiar with Ultimate Rewards, they are reward points earned by using a Chase Sapphire Preferred Card or Chase Ink Bold card. You can learn more about those cards here.
As a test, I was able to transfer 1,000 Ultimate Rewards points, and they posted to my Southwest Rapid Rewards account within about 30 seconds. Yay!
I then checked to see if they counted towards my 2012 Companion Pass total and they very much did not count toward that. Not surprising since it was stated that they would not count, but a favorable IT glitch is always appreciated. 😉
I do not personally plan to use many Ultimate Reward points with Southwest since they do not fly to the airport that I use most frequently, but it isn’t a horrible use of points if you are low on cash and want to book a Southwest “Wanna Get Away” fare. When used for Wanna Get Away fares, points have a fixed value of 1.67 cents per point. That’s not fantastic, but it’s not a horrible redemption value either. I would not recommend redeeming for “Anytime” or “Business Select” fares. The values for those types of fares are 1 cent per point and .83 cents per point respectively. You are better off using your Ultimate Reward points as cash to buy the fares and earn points for flying than to transfer them to Southwest to redeem as points.
While we are on the subject of Southwest, my “Chief Reward Officer” points finally posted. I noticed them today when I was looking around in my Rapid Rewards account. Hopefully your points from that promo have posted as well.
Are you going to be making good use of this new Ultimate Rewards transfer partner?