If you earned a companion pass in February of 2020, you were earning a 2021 companion pass. By earning 125,000 points prior to 12/31/2020 you earned a CP good through 12/31/2021. As a courtesy or "bonus" Southwest activates that Companion pass immediately - which of course gives us a nice loophole to exploit and earn a CP for 22-23 months by timing CC applications perfectly. While many of us are able to game the system via CCs and earn the CP early in the prior year, that's not necessarily the intent of the program. I can understand your frustration, but Southwest is really under no obligation to extend 2021 CPs as that benefit truly just kicked in 17 days ago for 2021. (I mean let's be honest, they're under no obligation to do any extensions period, for anybody)
They MIGHT choose to extend 2021 CPs in the future - Southwest is considered by many to be the most customer friendly airline out there and they've done numerous things throughout the pandemic to take care of their customers - BUT I would not count on that extension. The good news is, at least you earned 125k+ points which now never expire due to SW eliminating points expiration, and that should be worth over $1,800 in flights.
Also of note: the people who earned a 2020 Companion Passes basically got 2.5 months out of it and then had the rug pulled out from under them for the remainder of the year. I'm glad to see Southwest taking care of the folks who were most affected by this. Maybe they'll come back for 2021 folks and do something in the future, but I feel like they did the right thing for now for their customers.
RE: "the 25,000 thing" - you should soon see your CP ticker for your 2022 Companion Pass tick up by 25,000 points. (You won't actually get 25k points in your account, just the credit towards the CP). That means to earn a 2022 companion pass you now only need to earn 100k more SW points by the end of this year.
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The CP is earned for the current year AND the next year. I have no problem extending the people for 2020 passes. But I wasn’t able to fly either just like them and use my pass that I earned in 2020. And probably well into this year as well as possibly more shutdowns coming. I hope they do the right thing for those of us who earned the CP pass in 2020. Not anyone with the promotional extra points but those of us who earned it legitimately. You are right they don’t have an obligation to but I hope they do.