The annual Companion Fare available through the Alaska co-branded credit cards is one of the best perks of any branded airline credit card. It lets you book one economy fare starting at $122 ($99 fare plus taxes and fees from $23) on the same itinerary.

The Alaska Airlines Visa® credit card's Companion Fare comes with a significant caveat: New cardholders must spend at least $6,000 annually on the card to earn a Companion Fare on their card anniversary. Meanwhile business owners with the Alaska Airlines Visa® Business card earn the perk automatically when the cardholder renews.

Either way, the Alaska Airlines Companion Fare can easily offset either card’s annual fee. It can also help reduce the cost of family travel, especially during the holidays. And, with some creativity, it can provide hundreds — or even thousands — of dollars in value.

In this article, we’ll walk through what you need to know about the Alaska Companion Fare, as well as some simple ways to maximize its value.

Alaska Companion Fare basics

Consumer Alaska cardholders who had the card before Jan. 18, 2023, will continue to receive the Companion Fare automatically each year. However, new applicants who apply for the card on or after Jan. 18, 2023, will need to spend $6,000 per year to qualify for the Companion Fare on their next anniversary.

Note that new applicants will also ocassionally receive a Companion Fare when they sign up for the card and qualify for the welcome bonus, which is currently: Get 60,000 bonus miles plus Alaska's Famous Companion Fare™ ($99 fare plus taxes and fees from $23) with this offer. To qualify, make $3,000 or more in purchases within the first 90 days of opening your account.