A @SouthFayetteFan mini-fireside chat: Why am I advocating for 2 business or 2 personal SW cards but NOT as keen on 1 of each:
You've seen me mention numerous times about recommending either 2 business cards (spaced out appropriately) or 2 personal cards (via MDD) as your best SW CP strategy. Why do I keep saying that? Well to examine this let's first assess the current restrictions on each card:
- IF you earned a signup bonus on ANY SW PERSONAL CARD in the past 24 months then you ARE NOT eligible for a bonus on ANY SW Personal Card (not just the card you signed up for, but ALL SW personal cards).
- IF you earned a signup bonus on A SW PREMIER BIZ CARD in the past 24 months then you ARE NOT eligible for a bonus on the SW Premier Biz Card (but you could get a SW Performance Biz).
- IF you earned a signup bonus on A SW PERFORMANCE BIZ CARD in the past 24 months then you ARE NOT eligible for a bonus on the SW Performance Biz Card (but you could get a SW Premier Biz).
So currently the "ONE SOUTHWEST PERSONAL" rule prevents you from earning the bonus on more than one SW personal card except for the MDD loophole. (side note, the 2/30 chase application rule prevents from you from triple dipping these cards so don't even try that IMO). Also of note, the 24 months is measured from when you were awarded the bonus, NOT when you applied and NOT when you met the MSR. Once you pull the trigger on one of these cards you are likely under those restrictions for the next 25-27 months!!
There is no guaranty that Chase won't change these rules in the future - potential changes could include:
- A "ONE SOUTHWEST BUSINESS" rule similar to the personal cards.
- A change in the 24 month restriction to 48 months (this could occur on personal cards, business cards, or all cards).
- MDD could die
- Something else we haven't even dreamt of yet!
So why 2 personals or 2 business but not one of each...
Flexibility my friend...it's ALL about future flexibility...
Scenario 1: You sign up for 2 personal cards via MDD
- You earn a crap-ton of points now but can't get another personal card until sometime in mid 2022.
- In the future you still could sign up for BOTH business cards to get another CP (i.e. in 2022). IF Chase enacts a ONE SW BIZ rule you can still sign up for one business card.
- If Chase enacts a 48 month rule, at least you maximized your opportunity today (and you aren't locked out of biz cards)
Scenario 2: You sign up for 2 business cards
- You earn a lot of points now but can't get either business card again until sometime in mid 2022
- In the future you still could sign up for a personal SW card or even earn another CP via MDD (i.e. in 2022).
- If Chase enacts a ONE SW BIZ rule you don't care, you already earned both bonuses!
- If Chase enacts a 48 month rule, you haven't gotten any personal cards so you're still in business there!
Scenario 3: You sign up for 1 personal and 1 biz card. NOTICE THE FLEXIBILITY RESTRICTIONS:
- Congrats you are able to earn a CP!
- You can't earn another CP until later in 2022 because you are locked out of 1 biz card and all personal cards until 25-27 months from their initial applications
- You can't get another personal card period to pad your SW balance
- You could get the other business card (for now)
- IF Chase enacts a ONE SW BIZ rule you are now out of that card until mid 2022.
- IF Chase enacts a 48 month rule you are now out on personal cards until mid 2024
- IF Chase enacts both rules you aren't earning any more SW bonuses until mid 2024
This may seem a bit doomsday but nobody saw one Sapphire coming until it hit. Nobody saw one SW personal until it hit. Nobody saw 48 mo. restriction on Sapphire until it hit. These are the types of scenarios I plan for...I try to think 10 steps and 2 years ahead when I chart my strategy. Anytime you have an opportunity leave yourself greater flexibility down the line, I say do it! Not everybody will have that flexibility now due to previous SW cards, BUT if you do, please consider this before you apply.
...boy this doesn't seem like a "mini" fireside chat after all, haha!
EDIT: I added this as a sticky on the Fireside Chat Southwest CP post on DISchurners!