The Rules of Rewards Are Changing—and Southwest Just Made the Biggest Move
For years, a well-timed credit-card welcome bonus could put travelers within reach of Southwest’s Companion Pass. Beginning in 2027, that strategy will look very different.
Southwest’s newly announced loyalty overhaul is the biggest story in a busy week for points and miles. Hyatt has also introduced online points transfers and a new opportunity for its elite members to pursue Air Canada status. Meanwhile, American Express cardholders have a targeted Miraval discount to consider—and fresh reasons to reconsider how they use the Platinum card’s Lululemon benefit.
Together, these developments show why the details behind a rewards headline matter. A large point balance, an attractive statement credit or a promising status challenge can deliver real value, provided the qualifying rules fit the trip.
1. Southwest changes the path to Companion Pass
Southwest’s October 15 announcement goes well beyond renaming its elite tiers. Starting January 1, 2027, the airline will use Tier Qualifying Points, or TQPs, to determine Companion Pass eligibility. Welcome bonuses, referral bonuses, anniversary points and category bonus points will generally stop contributing toward qualification, even though they will continue to produce redeemable Rapid Rewards points. www.southwest.com
That distinction changes the calculation for travelers who relied on credit-card bonuses to earn the pass. A welcome offer can still help pay for flights, but its usefulness as a shortcut to companion travel is being curtailed.
Every Southwest Rapid Rewards credit card will earn one TQP per dollar in qualifying purchases beginning next year. The program will also replace A-List and A-List Preferred with Silver and Gold, while introducing Platinum. Unlimited Companion Pass trips will become a Platinum benefit, earned at 140,000 TQPs or 100 qualifying one-way flights. A milestone at 95,000 TQPs or 75 flights will provide three Companion Pass trips. www.southwest.com
For households that use companion travel regularly, the benefit can remain valuable. The challenge will be earning it through spending and flying that already make financial sense. Moving substantial purchases to a Southwest card carries an opportunity cost if another card would earn more useful rewards.
Southwest says travelers who earn Companion Pass under the current rules during 2026 will retain unlimited companion trips through December 31, 2027. Anyone considering an application should review the applicable transition terms carefully, particularly if the spending requirement or bonus posting could fall into next year. www.southwest.com
Read Southwest’s Companion Pass changes
2. Hyatt removes the paperwork from sharing points
World of Hyatt members can now transfer existing points to another member online. The digital process launched October 15, replacing a cumbersome system that required submitting a form for processing. Hyatt’s gifting page now directs members to the new transfer option. world.hyatt.com
It is a welcome improvement for travelers whose points are spread across separate accounts. Two people might collectively have enough for a hotel award while neither has enough individually. Easier transfers can help close that gap without buying points or moving additional rewards from a bank program.
Both accounts must be at least 60 days old. Transfers begin at 1,000 points and proceed in 500-point increments. Members can send up to 525,000 points and receive up to 525,000 points annually, with six outgoing free transfers permitted each calendar year. Most transfers arrive within 24 hours, although a transaction requiring review can take up to 10 business days. onemileatatime.com
The feature makes combining balances more convenient, but it does not change the price of a room or move elite status between members. Before sending points, determine which account should make the reservation and confirm the award is available.
For a booking with limited availability, allow some breathing room. A process that usually works quickly still carries a published possibility of delay.
Explore Hyatt’s points-gifting option
3. Hyatt status opens a faster route to Aeroplan status
Hyatt Explorist and Globalist members now have another reason to examine their upcoming Air Canada travel. A newly available Aeroplan challenge lets eligible members earn airline status by completing qualifying activity within 90 days.
Explorists can earn Aeroplan 25K status after accumulating 8,000 eligible Status Qualifying Credits, or SQC. Globalists can qualify for progressively higher tiers: 25K at 8,000 SQC, 35K at 12,000, 50K at 17,000 and 75K at 25,000. www.aircanada.com
The offer requires more than linking accounts. Members must register and complete eligible travel during the challenge window. Qualifying activity includes specified Air Canada flights and eligible partner flights ticketed by Air Canada. Economy Basic fares, Aeroplan award reservations and non-flight activity do not count. www.aircanada.com
The opportunity therefore fits travelers with a concentrated period of paid flying ahead of them. It deserves a closer look when those flights are already planned; purchasing extra travel solely to complete a challenge requires a much stronger justification.
Timing is particularly important. Registration uses the member’s annual challenge attempt, and processing starts the 90-day clock. For an eligible challenge registered in 2026 and successfully completed, the resulting status lasts through January 31, 2028. www.aircanada.com
Map the flights, ticketing channels and eligible fares first. Then choose a registration date that puts the greatest amount of qualifying travel inside the window.
Review Air Canada’s challenge requirements
4. A targeted Amex offer takes $200 off qualifying Miraval stays
Selected American Express cardholders are receiving an offer for a one-time $200 statement credit after spending at least $1,000 on qualifying room rates and room charges at participating U.S. Miraval resorts.
The reported offer covers eligible spending from October 15 through December 31, 2026, at Miraval Arizona, Miraval Austin and Miraval Berkshires. At exactly $1,000 in qualifying charges, the credit represents a 20% saving. travelingformiles.com
The restrictions narrow its usefulness. Reservations must be made through the specified direct Miraval website or World of Hyatt app, with payment made in person. Prepaid reservations and bookings through travel advisors or agents are excluded. Eligible charges must post by December 31. travelingformiles.com
That makes the rate comparison essential. A qualifying reservation with a $200 credit could still cost more than a prepaid package or another booking arrangement offering valuable benefits. Compare the final cost and inclusions before deciding which option wins.
Check Amex Offers before reserving, add the promotion to the intended card and retain the terms displayed in the account. Because the offer is targeted, another traveler’s eligibility does not establish your own. It is most useful as a saving on a retreat already under consideration.
See the reported Miraval offer and exclusions
5. Lululemon gift-card reports expose the limits of a popular Platinum strategy
Some American Express Platinum cardholders are finding that in-store Lululemon gift cards no longer trigger the card’s $75 quarterly statement credit. Doctor of Credit reported multiple failures on October 13, with reports suggesting the apparent change began around October 5. www.doctorofcredit.com
The evidence remains mixed. Some cardholders have reported different outcomes, and there is no confirmed explanation establishing a uniform technical change across locations.
There is also an important distinction between a new restriction and enforcement of an existing one: gift cards were already excluded by the benefit’s terms. Previous reimbursements did not guarantee that future purchases would qualify. www.doctorofcredit.com
For cardholders who used gift cards to save several quarters of credits toward a larger purchase, the reports undermine that approach. The more dependable way to use the benefit is to buy eligible merchandise during the quarter, after checking the enrollment requirements and current terms.
That also provides a useful test of the credit’s actual value. If it pays for something you would otherwise purchase, it can meaningfully offset the card’s cost. If using it means shopping simply to avoid losing it, its value is considerably lower than the advertised amount.
Izzy Hernandez, Founder, The Upgrade Life