Devaluation Roundup: Citi Price Rewind, Southwest Rapid Rewards, and the "One Southwest Rule"

Citi Price Rewind Devaluation

Citi Price Rewind searches for a lower price at hundreds of online merchants after you make a purchase with your Citi card.

The price protection has dropped from $500/item to $200/item, and the maximum benefit per year is $1,000/year (down from $2,500).

 via https://www.reddit.com/r/churning/comments/89tvfv/citi_price_rewind_upcoming_devaluation/

via https://www.reddit.com/r/churning/comments/89tvfv/citi_price_rewind_upcoming_devaluation/

Update: As of writing this post (4/6/18) the updated table with the devaluation has been removed from Citi's website. Hopefully, this means that Citi decided against the devaluation. https://www.citipricerewind.com/guide

Southwest Lowers Redemption Value of Points

It's generally understood that miles and points are subject to devaluation at any time, and Southwest recently made some changes. h/t Reddit

The change to a factor of 78 certainly affects what these points are worth on a go forward basis - here are illustrations at various price points (my cents per point valuations exclude the $5.60 you pay out of pocket):

  • $103 Fare = 6,443 points = 1.51 cpp
  • $143 Fare = 9,345 points = 1.47 cpp
  • $176 Fare = 11,739 points = 1.45 cpp
  • $209 Fare = 14,133 points = 1.44 cpp

Chase Enforces "One Southwest Card Rule"

Chase and Southwest Airlines recently made a change that makes it significantly more difficult to earn Companion Pass by getting two different Southwest credit cards. h/t TPG

The "old" way to earn Southwest Companion Pass via credit cards:

  • Requirement: Earn 110,000 Southwest Rapid Rewards in one calendar year
  • Usually involves getting 2 of:
    • Chase Southwest Plus
    • Chase Southwest Premier
    • Chase Southwest Business

The new rule states that you can't hold more than one personal Chase Southwest card at any time, similar to the One Sapphire Rule

Moving forward, the only way to earn Southwest Companion Pass via credit cards is to:

  • Pick one:
    • Chase Southwest Plus
    • Chase Southwest Premier
  • Also get:
    • Chase Southwest Business

In case you're wondering, you can't transfer Ultimate Rewards points to Rapid Rewards to earn Companion Pass.

As a reminder, the Southwest cards are affected by the Chase 5/24 rule