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Friday, November 10, 2017

Update on my quest to renew the Southwest Companion Pass


It's been a month since I applied for two Southwest credit cards on the same day.  You can read my original post which goes through my strategy here.  I was not instantly approved for either card, which made me nervous.

Business Premier Card:

I applied for this card at the beginning of October.  I filled out the application honestly and stated I made revenue of a couple thousand dollars reselling things such as concert and football tickets.  Once I hit submit, the window start scrolling and then a screen came up that said you application is under further review and could take up to 30 days.  This has happened before so I wasn't worried.  In the past I would check my online Chase account once a day to see if the card popped up in my account list.  The following morning I did just that and what do you know the Southwest business premier card was listed under my business accounts!

I believe the day after the card showed up in my online account the email from Chase stating I was approved showed up in my inbox.

Personal Plus Card:

I applied for this second card right after I submitted my application for the business card.  After hitting submit I got the same response as the business card - your application is pending and you will receive a decision within 30 days.  I was surprised this card wasn't approved immediately since I only had 3 other Chase personal cards open.  I checked my personal online Chase account daily for the card to show up in my account.  After a week of nothing showing up I started to get nervous.  Roughly 7 days after applying I got a letter in the mail from Chase saying I was denied!!

Just below the line about being denied was a phone number to call for reconsideration.  The letter also stated I had too many accounts open which really surprised me.  Obviously, I immediately called the reconsideration line.  A woman answered and I politely asked why I was denied.  She said I did not have enough credit capacity available through Chase.  I was instantly relieved.  Basically this means I just need to shift around some credit from other Chase cards.  I never reach my credit limit on cards so this was a simple fix.  I quickly said please move 5k from one of my other accounts to the Southwest account.  She agreed that would work and put me on hold to make the switch.  A few minutes later she was back and said it went through approved!

Spending:

We are working our way through the spending requirement for the bonus (2k for personal and 3k for business).   I've been racking up the charges by buying Christmas presents early this year.  To be safe I will probably take the cards out of my once I get within $200 on either card.  Once January 1st gets here I will quickly meet the spending requirement.  Both my statement end dates occur before the 10th of the month.  I hope to have the bonus points deposited into my account by the 20th of January.

Did anyone else go after the Companion Pass?


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