Southwest Companion Pass.What is it:
The SW CP is arguably the most valuable airline perk available today. It allows you to bring a companion with you for free on any Southwest flight, regardless of whether you are on a revenue or award ticket. All you pay are the government taxes on the ticket. The pass works for all Southwest flights, including international flights. The pass also works on Airtran flights that are sold on Southwest.com. Airtran flights that are not sold on Southwest.com are not eligible.
Like all other Southwest award bookings, the CP is not subject to any capacity controls, and as long as there is still a seat for sale on a particular flight, it is yours.
The pass is valid for the year it is earned in and the entire next calendar year. If you earned your CP in July 2014, your pass will be valid for the remainder of 2014 and the entirety of 2015.How to get it:
The SW CP is obtained by earning 110,000 Southwest points in one calendar year. For example, if you earned 8k points by flying at the beginning of 2014, you need to earn another 102k points throughout the rest of 2014 in order to qualify for CP. Once 2015 rolls around, the points you've earned in 2014 no longer qualify for earning your CP, although they will still be redeemable points.
The primary method of accumulating Southwest points is CC signup bonuses. The Southwest CC frequently offers 50k point signup bonuses on all 4 flavors of Southwest cards and signup bonuses count towards earning the CP. Get approved for 2 of these cards, meet the 2k spending requirement on each and you are only 6k points away from the CP.
All points earned through the Rapid Rewards shopping mall also count towards SW CP eligibility.
Points transferred from Hyatt, Club Carlson, Marriott, and Wyndham all count towards CP status.
Points transferred from Ultimate Rewards do not count towards CP, although you can transfer can transfer 50K Ultimate Rewards points into 50K Hyatt and 50K Hyatt transfers into 30K Southwest.
Points earned by crediting hotel stays and car rentals to Southwest also count towards CP. Using the CP:
Using your CP is very simple. Once you book a flight on Southwest, an "Add a companion" button will appear under your reservation. Just fill out the info and pay the taxes and you are done.
It is best to add your companion right when you book your own flight as there have been instances where people have forgotten to add their companion, the flight subsequently sold out and they were not able to add their companion. One thing to keep in mind is that online changes with a companion booked are not possible, you need to cancel the companion, wait 10-15 min, make the change and then add the companion again. You can make the necessary changes over the phone though.
You can change your companion up to 3 times during the life of your CP. (I believe you can change it 3 times per calendar year.)